In this article we will look at 3 brokers that only requires a minimum deposit of $5 to get started trading with them.
If you are trader with low funds, it is beneficial to find a broker that only require a low minimum deposit to get started with trading. The first great broker we are going to talk about is XM Broker. Also, towards the end of the article, we will have table comparing these brokers.
It can be quite hard to find a broker that only requires $5 as the minimum deposit because most brokers require a minimum deposit of $100. That’s why we put this compressive article together.
Broker 1 – XM Broker
XM broker is an award winning broker who only require a minimum deposit of $5 for you to get started trading with them. XM Group was founded in 2009 and currently has over 10+ million clients worldwide. XM is an award winning trading platform.
XM broker is regulated by 3 regulators including tier 1 regulators (it is important that you trade with highly regulated broker like XM).
These regulators are,
- Australian Securities and Investment Commission (ASIC)
- Cyprus Securities and Exchange Commission (CySec)
- Financial Services Commission of Belize (IFSC)
XM also provides a range of trading platforms to trade in. If you prefer trading on the desktop, the XM broker provides you with the MetaTrader 4 and MetaTrader 5 trading platform. These 2 platforms are great for trading on the desktop, both on mac and pc. They also support algorithmic trading as well.
If you prefer trading on the mobile, XM provides traders with a mobile application. This mobile application supports both Android and IOS. The following image (figure 1) shows the XM mobile trading application.
With XM Broker you can trade 6 Asset Classes. The 6 asset classes are Forex, Stocks, Commodities, Equity Indices, Precious Metals and Energies.
The spreads when trading with XM starts at 0.6 pips and the XM brokers does not charge any commissions.
When it comes to customer service, XM provides traders with world class customer service, 24/5. You can contact XM’s customer service through live chat, email and phone. If you are interested in trading with XM Broker, click the button down below. If you want to read our complete review of the XM Broker click here.
Broker 2 – FBS Broker
Another great broker that only requires a minimum deposit of $5 to get started trading with is the FBS Broker. FBS Broker is award wining international broker that was founded in 2009. FBS provides traders with 6 asset classes to trade with, these are Forex, Metals, Indices, Energies, Stocks, and Cryptocurrencies.
The FBS broker is regulated by 4 different regulators. These are,
- Cyprus Securities and Exchange Commission (CySEC)
- Australian Securites and Investment Commission (ASIC)
- Financial Services Commission of Belize (FSC)
- Financial Sector Conduct Authority South Africa (FSCA)
Like the XM broker, FBS broker provides traders with multiple trading platforms. These include MetaTrader 4, MetaTrader 5 and FBS mobile trading application. The following image shows the FBS broker mobile trading application.
The spreads when trading with FBS broker starts at 0.7 pips and the commissions starts from 0%.
When it comes to customer service, FBS broker provides you with 24/7 customer support. You can contact FBS customer support through messenger, email, WhatsApp, line and telegram.
If you are interested in trading with the FBS broker click the button below.
Broker 3 – Deriv Broker
Deriv Broker is another broker that only require a minimum deposit of $5. Deriv brokers was started 25 years ago and has grown to over 2.5 million users worldwide. Deriv broker has also won many awards and is regulated by multiple regulators.
Deriv broker is regulated by 4 different regulators. These are
- Malta Financial Services Authority (MFSA)
- Labuan Financial Services Authority (Labuan FSA)
- British Virgin Islands Financial Services Commission (BVI FSC)
- Vanuatu Financial Services Commission (VFSC)
Deriv broker provides traders with a range of platforms to trade on. These are Deriv MT5, Deriv-X, Deriv cTrader, SmartTrader, Deriv Trader, Deriv GO, Deriv Bot and Binary Bot. The following image shows the Deriv brokers mobile trading application, Deriv Go.
With the Deriv broker, you can also trade 6 asset classes, these are, Forex, Derived Indices, ETFs, Stocks & Indices, Cryptocurrencies, Commodities.
The spreads when trading with Deriv broker starts at 0.5 pips and the commissions are 0%.
When it comes to customer service, Deriv broker provides you with 24/5 customer support. You can contact Deriv Broker customer support through email and live chat.
Broker Comparison
Below is a comparison table between the 3 brokers we discussed in this article.
| XM Broker | FBS Broker | Deriv Broker |
|---|---|---|
| Minimum Deposit – $5 | Minimum Deposit – $5 | Minimum Deposit – $5 |
| Regulated By – ASIC, CySec, IFSC | Regulated By – CySEC, ASIC, FSC, FSCA | Regulated By – MFSA, Labuan FSA, BVI FSC, VFSC |
| Spreads – Starts at 0.6 pips | Spreads – Starts at 0.7 pips | Spreads – Starts at 0.5 pips |
| Commissions – 0% | Commissions – from 0% | Commissions – 0% |
| Customer support – 24/5 customer support, contact through email and phone | Customer support – 24/7 customer support, contact through WhatsApp, message, line, telegram | Customer support – 24/5 customer support, contact through email and live chat |
| Trading Platforms – MetaTrader 4, MetaTrader 5 and XM Mobile Application | Trading Platforms – MetaTrader 4 and MetaTrader 5 | Trading Platforms – Deriv MT5, Deriv-X, Deriv cTrader, SmartTrader, Deriv Trader, Deriv GO, Deriv Bot and Binary Bot |
| Leverage – Up to 1:1000 | Leverage – Up to 1:3000 | Leverage – Up to 1:1000 |
Conclusion
In this comprehensive article, we discussed about 3 brokers that you can trade with that only requires a $5 minimum deposit. These brokers we XM Broker, FBS Broker and Deriv Broker. These brokers, not only allow a low minimum deposit but also are highly regulated by tier 1 regulators. There forex you can trust these brokers.
