If you want to trade but your budget is only up to $10, don't get discouraged because these brokers accept deposits from $10.
It is a common misconception that you need to invest a lot of money in order to trade in forex. With the forex industry growing every day, there are always improvements to the system which allows more people to start trading more easily.
Today, there are quite a few brokers offering a low minimum deposit in order to attract more clients who are unable to invest too much too soon.
Below are some forex brokers which offer a minimum deposit of only $10:
- Exness: offers $10 minimum deposit, except payment using FasaPay.
- FXTM: requires a minimum deposit of $10 in Micro Account.
- FXOpen: offers $10 minimum deposit for STP and Crypto Account.
- RoboForex: provides various account types with the $10 minimum deposit.
- NordFX: allows a minimum deposit of $10 in its Fix Account.
- Tifia: accepts a minimum deposit of $10 in Starter Account type.
- PaxForex: offers a $10 minimum deposit using Neteller, Skrill, and Perfect Money.
- TenkoFX: requires a minimum deposit of $10 in its STP Account.
- Grand Capital: allows a minimum deposit of $10 for their Micro Account.
- Trading 212: provides only a single trading account that has a minimum deposit of $10.
Exness
Founded in 2008, Exness is one of the most prominent retail brokers in the financial industry. Over the years, they have built a brand name for themselves by maintaining a client-focused approach and constantly upgrading their services to meet their growing demands.
Exness offers a minimum deposit of $10 in some of their accounts, depending on your method of payment. That is because payment over Internet Banking and FasaPay took a minimal amount of $15. There is no commission as Exness already charges spread.
Currently, Exness maintains a monthly trading volume in the hundreds of billions of dollars and has over a hundred thousand active clients trading on their platform every day.
The choice of broker is adjusted to the needs of each trader. If you are a trader who only needs a basic platform and trading features with the best attributes, then Exness can be your best choice.
Exness covers its lack of feature variations with other advantages like low spreads starting from only 0.1 pip. This is very suitable for traders who use scalping strategies (Scalper). Spreads on major pairs in certain account types can also be as low as 0.0 pip, depending on market conditions.
Not only that, but traders can also enjoy other advantages such as automatic fund withdrawals. Exness processes the majority of client withdrawals instantly, without manual checks; however, withdrawals may be subject tos depending on the payment provider or method of choice.
The safety of traders' funds is also guaranteed as Exness is one of the European-based STP/ECN brokers. Exness's ability to become an official partner of the Real Madrid soccer team for 3 years, starting July 2017, also provides evidence that the company has high solidity.
Deposits and withdrawals may be made 24 hours a day, 7 days a week. However, it is important to note that the company shall not be liable fors in processing deposits and withdrawals if suchs are caused by the payment system.
Traders do not need to worry about transaction fees when depositing and withdrawing. Exness doesn't charge any transaction fees to traders even though some charges may be incurred depending on the payment provider of choice. A variety of payment methods are provided for traders, including Wire Transfer, Bank Card, Neteller, Skrill, and many others.
The financial reports and metrics on the Exness website are audited quarterly by Deloitte, one of the four largest public accounting firms globally.
Moreover, Exness is one of the mote transparent brokers in the online trading industry. Traders can find out all information about this company on the website, such as trading volume, number of active clients, client deposits, company funds, and many more.
The platforms provided by Exness vary in MetaTrader 4, MetaTrader 5, Web, and Mobile platforms. This makes it easy for traders when trading on Exness, as they can also access Exness platforms anywhere and anytime.
Over the years, Exness has developed into a broker that attracts traders. Trader's trust is further enhanced by its compliance with financial regulations like the FCA and CySEC.
One measure of client confidence can be put on the trading volume. By December 2018, their clients' monthly trading volume reached USD348.4 billion and active traders around the world surpassed 50,342.
Through the program offered by Exness, traders also have the opportunity to earn extra income by becoming their partners. From the Introducing Broker (IB) program, partners can earn up to 33% spread commission from every new client that registers with them.
Additional income can also be obtained from Exness Partners. Traders can get a spread commission of up to 25% per transaction made by traders who register through an affiliate link.
When trading with Exness, clients can also make use of its free VPS hosting services. A VPS (Virtual Private Server) offers increased reliability and stability for traders as they can maintain their trades and expert advisors without interruption in the event of unexpected technical issues, such as internet or electricity downtime.
From the review above, it can be concluded that Exness is a favorite broker for traders because of low spreads and flexible account types. This condition is very suitable for traders with limited funds but is in need of more opportunities to get maximum profit. This broker is also well known for its maximum support on both new and existing partners.
FXTM
FXTM, also known as ForexTime, was founded in 2011 and is one of the oldest brokers in the forex industry. It is widely known for its minimum deposit requirement of $10 in their Micro Account. The same amount is also applied for deposit made in Euro and Pound.
FXTM has various deposit methods including WebMoney. The broker is considered to be one of the safest brokers in the industry due to being regulated by some of the top-tier financial regulatory bodies such as the Financial Conduct Authority (FCA).
It is also able to offer a lot more financial assets for trading than the average broker.
FXTM was initially launched in 2011 with a unique vision to provide unparalleled superior trading conditions. Opening an account in FXTM would also bring about access to advanced education and sophisticated trading tools in the forex industry.
Now, FXTM is registered under the Financial Conduct Authority of the UK with the number 600475. The company is also regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, and is licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614
FXTM has 1 million registered accounts with more traders joining every day. The company continually tries to improve their performance and have got many awards such as Best Trading Experience 2019 by World Finance Awards, Best Online Forex Trading Company Nigeria 2018 by International Finance Awards, Reputable Investor Education Forex Broker Award 2018 by Hexun.com, Forex Brand Of The Year China 2018 by Fxeye.Com, and many more.
As a responsible broker, they determine leverage (expressed as a ratio of transaction size relative to trader's buying power) according to the trader's level of knowledge and experience in trading, which is evaluated by the Appropriateness Assessment. The company also enables trading with leverage up to 1:1000.
As for spreads, FXTM offers low spreads starting from 0.1 pip, so traders can withdraw profits at the start of trading. The company, which has headquarters in several countries, uses No Dealing Desk (NDD) technology and partners with credible liquidity providers to provide the best bid and ask prices.
For beginners, there is an automatic trading facility called algorithmic trading provided. When trading in FXTM, traders can develop their trading strategy or adopt other traders' strategies. Furthermore, the strategy is applied to automated trading systems, such as Expert Advisors. The purpose of this system is traders do not have to worry about losing opportunities while not observing the market so that profits can still be earned.
Three types of ECN accounts use the MT4 and MT5 trading platforms. There are also mobile and Tablet Apps trading platforms. Aside of providing many account variants, FXTM goes above and beyond to ensure that their client receives excellent support that they deserve, making their trading experience optimal and user-friendly.
FXTM also provides a diverse range of products. In addition to over 50 currency pairs, they provide gold, silver, CFD on commodity futures (oil), CFD on ETFs, and indices.
Education about the basic concepts of the forex industry is also accessible in this broker. Traders can read all the concepts provided in the form of e-books, video tutorials, articles, webinars, and forex seminars. There are 17 languages provided on the FXTM website to make it easier for traders to learn about forex.
Traders are also given various choices for payment methods, including Credit Cards (Visa, Mastercard, Maestro) and E-Wallet (Neteller, Skrill, Western Union). For withdrawing funds, traders are not charged a fee with a length of 2 hours to 2 days. Traders can live chat to ask further questions and contact the admin via email. There is also a question and answer page about forex trading on FXTM.
FXOpen
FXOpen was founded in 2003 by a group of people who were forex traders themselves. They founded this brokerage service as a natural next step in their career in the forex industry.
They wanted to create a platform where they could constantly bring new features to the forex space while also listening to their clients' remarks and taking them into account as well.
FXOpen currently offers two accounts that require a minimum deposit of $10; the Standard STP Account and the Crypto Account. Traders can fund their account through various methods which includes Visa, WebMoney, FasaPay, and Cryptocurrency.
The STP account is an average forex account with no special features. With this account, you will have access to 50 currency pairs which is hardly half of what is offered by other brokers. Meanwhile, the Crypto Account is focused on cryptocurrencies for trading.
FXOpen started its operation as an online trading provider for retail clients since 2005. The company was founded by a group of traders with a mission to provide services that refer to the interests of traders. FXOpen claimed to be one of the firsts to offer ECN trading via MetaTrader 4 (MT4). With FXOpen's unique proprietary price aggregating technology, their clients can benefit from the industry's most competitive spreads (from 0 pips) and low trading commissions.
In 2006, FXOpen also became the first broker to offer a micro account and a swap-free account. After that, they continue to be the pioneers of several new and high-tech services, including the first Crypto account that can provide trading facilities on 24 Cryptocurrency pairs such as Bitcoin, Litecoin, and Ethereum.
Furthermore, the company provides One Click Trading and Level 2 MT4 plug-ins, enabling traders to place trades with just one click of the mouse. Traders do not need to worry about trading security at FXOpen. They have registered in Nevis, the UK FCA, and ASIC Australia.
A variety of trading accounts are provided such as STP, Micro, ECN, and free unlimited demo accounts. The minimum deposit for each account depends on the account type; USD1 in Micro Account, USD10 in STP and Crypto Accounts, and USD100 in ECN Accounts. As for leverage, FXOpen offers up to 1:3 (for Crypto Accounts), and up to 1:500 (for Micro, STP, and ECN Accounts).
Besides, traders can enhance their trading capabilities with Myfxbook and Zulutrade automated trading systems. Both of these services allow anyone to copy the transactions of experienced traders. Thus, traders can replicate the results of professional traders' strategies.
The FXOpen PAMM Service allows copying trades from a Master account to one or more than one Follower account and automates the distribution of profits and losses. The Master operates personal capital through a PAMM account, and his trading strategy is replicated to the Follower's capital. The owner of the Follower account can view and analyze the performance of the PAMM account with the help of advanced analytics. There are 3 PAMM accounts in FXOpen, namely STP, ECN, and Crypto PAMM.
On ECN accounts, traders will get direct price quotes from leading liquidity providers, including Dresdner, SG Paris, Standard Chartered, Barclays Capital, Bank of America, CRNX, JP Morgan, Morgan Stanley, Deutsche Bank AG, RBS, CITI, and UBS. This is one of the reasons why FXOpen's ECN account has become a trader favorite.
After seeing the various advantages offered by FXOpen, traders can easily register an account, simply by filling out the form in the registration menu on the FXOpen website. Traders will be asked to verify documents in advance if the trader will make a deposit or withdrawal of funds. Based on traders' experience and information since FXOpen was founded, there have not been any major complaints about payments (depositing or withdrawing funds) from clients.
Once registered with the FXOpen broker, traders also have the opportunity to get other benefits. One example is the FXOpen cashback program for the first 90 days from registration as a new client. The minimum cashback is USD5 and the maximum is USD1,000.
Furthermore, free VPS is available for ECN, STP, and Crypto account holders. Traders can use FXOpen VPS without any fees for 1 month if they can maintain equity of USD5,000 at the end of the month or trade with a trading volume of USD10,000,000 per month. The advantages of VPS on FXOpen are excellent accessibility, flexibility, and speed.
Trading on FXOpen is made easier because traders can add insight into trading by entering contests. FXOpen Broker offers weekly and monthly trading contests on demo accounts through the ForexCup.com site. Traders can join competitions that are free of charge to hone their skills. If a trader wants a bigger challenge, there is also a trading contest on a real account.
The company also offers Forex partnership programs to traders, Forex brokers, and website owners who publish information about fiat and crypto-currency trading. There are 3 types of partnership levels, including Forex IB (Forex Agent) that attracts new clients to FXOpen using a referral (affiliate) link, Forex Rebate, and individual partnership conditions.
In Conclusion, FXOpen is a well-rounded forex brokerage for traders with a desire to try various trading instruments, a trading environment in ECN account, low minimum deposits, the best cryptocurrency trading condition, as well as interesting trading features like PAMM and demo contests.
RoboForex
Founded in 2009, RoboForex has built a brand name for itself over the years. Therefore, RoboForex is still a broker that is trusted by most professional traders despite being an offshore company.
RoboForex offers various account types with the $10 minimum deposit being available in most of them. The funding methods include FasaPay, Skrill, Neteller, Perfect Money, debit cards, credit card, Qiwi, and many more.
Each account is unique in its own way, giving potential clients with low starting budgets a good selection of accounts to choose from.
Well-known as one of the most committed brokers in trading technology advancements, RoboForex reaches out to a wide range of traders, from beginners to the more experienced ones who seek sophisticated trading environments with ECN-like spread and execution. The company is established in 2009 and holds a head office in Belize. Registered under the IFSC Belize, RoboForex manages to attract clients with fantastic leverage as high as 1:2000.
Following its commitment to be the forefront in terms of a high technology forex broker, RoboForex provides various trading platform choices including MetaTrader 4, MetaTrader 5, Social Platform, and its proprietary platform.
Trading instruments range from Currencies to Metals, Indices, Energies, Stocks, and ETFs. Aside from basic service, trading in RoboForex also presents a collection of distinctive features such as the PAMM system and Social Trading network developed with their own brand of CopyFX, ETFs, and stocks that reaches up to thousands as the available trading assets, and tight spreads.
RoboForex also accepts payment through a surprising online gateway besides wire transfer and credit card. The alternative methods are Skrill, Neteller, UnionPay, Perfect Money, and other similar online payments.
After opening an account, traders can start with a minimum deposit as low as $10 in Pro Accounts. To specify, here is a short description of each type of accounts that traders can choose from in RoboForex:
Pro-Standard
- Minimum Deposit: $10
- Spread: from 1.3 points
- Minimum order volume: 0.01
- Leverage: up to 1:2000
ECN-Pro
- Minimum Deposit: $10
- Spread: from 0 points
- Minimum order volume: 0.01
- Leverage: up to 1:300
Prime
- Minimum Deposit: $5,000
- Spread: from 0 points
- Minimum order volume: 0.01
- Leverage: up to 1:100
Pro-Cent
- Minimum Deposit: $10
- Spread: from 1.3 points
- Minimum order volume: 0.1
- Leverage: up to 1:2000
R Trader
- Minimum Deposit: $100
- Spread: from $0.01
- Minimum order volume: 1 stock
- Leverage: up to 1:200 (during the trading session) and up to 1:4 (after the trading session)
The R Trader account signifies RoboForex's attempt to distinguish forex and stock trading condition. It appears that the platform used in that particular account is RoboForex's in-house product that is specifically designed for stock online trading.
The overall description above depicts RoboForex as a distinguished broker despite its status as an offshore-regulated entity. Not only successful in providing various trading technology, but RoboForex also focuses on stock trading for more conservative traders. However, it is also important to note that RoboForex is one of the few brokers that boldly offer an extremely high perimeter of leverage at 1:2000.
NordFX
NordFX was founded in 2008 and is an international broker offering market access to forex, cryptocurrencies, stocks, indices, and commodities. They have won numerous rewards in the financial industry due to their competence and due diligence to provide the best experience for clients.
NordFX offers a minimum deposit of $10 in their Fix Account. With this account, traders will have access to 28 financial assets, which is ideal for beginners as they won't get overwhelmed with too many assets.
NordFX is known as an online Forex and CFD broker company operating in Vanuatu. Following the norm of forex brokers in the country, NordFX is registered under the Vanuatu Financial Services Commission (VFSC). Although not as popular as Cyprus as an offshore destination, Vanuatu still serves as one of the main offshore jurisdictions for retail online brokers.
One of the main advantages of opening a trading account in NordFX is the simplicity in trading registration and flexibility in trading conditions. Those characteristics somehow offset the negative sides of offshore brokers that concern the majority of traders with big deposits.
As for NordFX, the maximum leverage offered reaches up to 1:1000, allowing traders to dream big with small capitals (but high-disciplined trading rule and psychology). The available instruments vary from tens of forex pairs, commodity-based CFDs, and index-based CFDs. This allows traders to get involved in not only currency markets but also stock indices, precious metals, and oil markets.
Compared to other forex brokers with a similar level of credibility, NordFX is quite generous in its spread policy. The Pro and Zero accounts are equipped with spreads starting from 0.9 pips and 0.0 pip respectively. Yet, the Fix account is presented with 2 pips spread, which is quite ironic since the account is the most suitable for small traders with a minimum deposit starting only from $10.
Here are the basic specifications for each account types in NordFX:
Fix Account
- Minimum deposit: $10
- Spread: from 2 pips
- Leverage: up to 1:1000
- Account Balance: in USD, ETH, and BTC
- Quote precision: 4 digits
- Commission: None
Pro Account
- Minimum deposit: $250
- Spread: from 0.9 pips
- Leverage: up to 1:1000
- Account Balance: in USD, ETH, and BTC
- Quote precision: 5 digits
- Commission: None
Zero Account
- Minimum deposit: $500
- Spread: from 0.0 pips
- Leverage: up to 1:1000
- Account Balance: in USD, ETH, and BTC
- Quote precision: 4 digits
- Commission: 0.0035% per trade (each side)
For platform choices, trading in NordFX allows the use of both MetaTrader 4 and MetaTrader 5; all available for desktop and mobile interfaces. It signifies the broker's initiative to keep up with current trends as MetaTrader 5 is starting to gain followers, while MetaTrader 4 is kept to facilitate its faithful users. Both have a tremendous selection of Expert Advisors, custom indicators, as well as Strategy Providers in their built-in mirror trading feature.
NordFX accepts payment from nearly all of the popular online methods among retail traders around the globe. Hence, it’s not surprising to see it offering traders a wide range of payment methods that include Bank Transfer, Visa, MasterCard, WebMoney, Skrill, Neteller, Perfect Money, Qiwi, and many others. However, NordFX hasn't accepted payments via cryptocurrency wallets even though the broker is starting to promote the digital asset as its latest recommended trading instrument.
To conclude, NordFX may hold the unavoidable impression of being an offshore forex broker. However, it is still highly competitive and considered ideal as traders' preferred choice for a broker with zero spread conditions and flexible leverage. Since the loose trading condition usually goes hand in hand with a high-risk trading environment, it is also important to implement cautious measurements on all front when calculating money management and risk management in NordFX.
Tifia
Tifia is a global financial broker with headquarters in the United States. Founded in 2011, they are among the oldest brokers in the industry.
However, they are unfortunately not regulated by any top-tier bodies. This creates a trust barrier between the broker and any potential clients that may have wanted to invest with them.
Tifia offers a minimum deposit of $10 on their Starter Account type. This is a mini version of their regular account which you can open with a minimum deposit of $100.
With the starter account, you only have access to three base currencies; USD, EUR, and NGN. This gives you access to a total of 28 forex assets and 2 metals.
PaxForex
PaxForex is an offshore broker that was founded in 2010 and is owned by Laino Group Limited. It is available in almost all countries but it focuses its attention on the Asian market, especially China and Japan.
One of the unique features of PaxForex is the minimum deposit option of $10 for payment over Neteller, Skrill, and Perfect Money. This is to meet the income bracket of potential Asian clients.
They also translated their website into various different languages and offer live chat support in multiple languages to attract customers from all over the world. This tactic has been proven to be a success thus far.
Founded in 2011, PaxForex offers online trading services to forex retail traders. The company is registered in St. Vincent and the Grenadines, a well-known offshore jurisdiction for CFD brokers with the intention of providing the most flexible trading environment for all types of traders. However, the broker is yet to be licensed as a financial service provider by the Financial Services Authority of St. Vincent and the Grenadines.
PaxForex embraces traders from all over the world, including the USA; an extremely unique decision as offshore-based forex brokers rarely allow traders from the US to register under their service. The trading instruments offered include Forex pairs (majors, crosses, exotics), Spot Metals, Shares, and Cryptocurrencies. The trading condition details for each asset are displayed thoroughly on PaxForex's official website, so anyone can attest to their products with no significant difficulties.
The account types are specifically designed to suit several types of traders with the following conditions:
Cent Account
- Minimum Deposit: $10
- Minimum Spread: from 2.4 pips
- Shares: No
- Priority Execution: No
- Minimum lot size: 0.0001
Mini Account
- Minimum Deposit: $100
- Minimum Spread: from 1.4 pips
- Shares: No
- Priority Execution: No
- Minimum lot size: 0.01
Standard Account
- Minimum Deposit: $2000
- Minimum Spread: from 0.4 pips
- Shares: Yes
- Priority Execution: No
- Minimum lot size: 0.1
VIP Account
- Minimum Deposit: $10,000
- Minimum Spread: from 0.4 pips
- Shares: Yes
- Priority Execution: Yes
- Minimum lot size: 0.01
From the specified details above, it is quite easy to see that traders with a small amount of capital and have low-risk tolerance would fit the Cent Account perfectly. Aside from the low minimum deposit, the account applies a minimum trade size as low as 0.0001, so traders can trade with only $0.001 pips value.
Meanwhile, Mini Account is the meeting ground between small capital traders and the need for low spread. This is because the spread given in Cent Account is not competitive for retail brokers' standards. For the more experienced traders who are finally ready to step up their game, Standard Account provides an even lower spread and the option to trade Shares. On the other hand, the high requirement of deposit amounts in VIP Account signifies that it is not for everyone.
There is nothing groundbreaking in terms of trading technology since trading in PaxForex serves traders with the choice of only using MetaTrader 4 as the main platform. The broker may upgrade their platform list by adding MetaTrader 5, as MetaQuotes itself confirm that the operation of MT4 would eventually cease in the future.
What PaxForex lack in the trading platform, they cover it with their commitment to providing traders with convenient payment methods, both for deposit and withdrawal purposes. In addition to bank transfer and credit cards, PaxForex enlists Neteller, WebMoney, FasaPay, Perfect Money, and Qiwi to complete the options of payment methods. Beyond the usual e-payments, this broker also manages to add Bitcoin and Ethereum as alternatives.
In terms of trading education, PaxForex creates the study resources in various forms of media, including written articles, infographics, as well as video tutorials. The analysis is also provided with two divisions of concepts, mainly by their focus on in-depth fundamental and critical technical contents.
All in all, PaxForex is an adequate choice for retail trading in the forex market with a minimum deposit and lot size. Their resourceful contents are also proved unique and insightful for traders with a high interest in continually expanding their knowledge.
TenkoFX
TenkoFX was founded in 2011 and is a forex broker that is focused on their clients' satisfaction. They claim to be always improving their services in order to meet the growing demand of the forex industry.
TenkoFX offers a minimum deposit of $10 in its STP Account and three base currencies; USD, EUR, and RUB. The one drawback with this account is that they charge a $10 fee for every month of inactivity.
Although there seem to be some restrictions, it is still a bargain if you look at the 'price tag' of $10.
Grand Capital
Grand Capital was founded in 2006 and claims to be based on three main principles; trust, quality, and reliability. They offer CFDs and cryptocurrencies along with their forex side of the business.
This is done mainly to attract more clients and to meet the growing demands of existing ones. Grand Capital offers a minimum deposit of $10 for their Micro Account.
If you're new to forex, starting with just $10 is a safe choice to make. With this account, traders have access to 66 financial assets in total for trading. This makes it easier for beginners to choose the right assets for them.
Trading 212
Trading 212 was founded in 2006 and is a top-tier financial broker that is regulated by the Financial Conduct Authority (FCA) and other regulatory bodies. They have headquarters in London and are accessible from almost all countries.
Trading 212 offers only a single trading account that has a minimum deposit of $10. This account has all the basic features offered by most forex brokers. They also don't have an inactivity fee which is a huge plus point in attracting clients who are seasonal traders.
Apart from brokers with $10 minimum deposits, there are also some choices that allow deposits even lower than that. Find the shortlist in the Lowest Deposit Forex Brokers.