Trading with a raw spread account has a number of advantages, especially when you add a low deposit on top of that. Here are the best raw spread brokers with low deposits.
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 for more people to start trading much easier. 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. On top of that, many of them offer low deposits for their raw spread accounts to win people as clients.
Although you have found numerous brokers out there offering raw spreads, of the many, which one provides low deposit? Below are some of the best brokers which offer a raw spread account on a low deposit.
ICMarkets
ICMarkets is a CFD-focused international broker. It was founded in 2007 and is therefore relatively experienced in the industry. In order to compete with other trusted several brokers, they decided to offer their raw spread account on a minimum deposit of $200. This significantly increased their popularity, especially among traders who weren't ready to make a big investment in this industry yet. In addition, this account allows you to trade on the tightest spreads and minimal commissions.
IC Markets is an online forex broker operating under the company of International Capital Markets Pty Ltd. Traders under the Australian jurisdiction are provided with the trading service of IC Markets AU that is headquartered in Australia and licensed by the Australian Securities and Investments Commission (ASIC).
On the other hand, non-Australian traders who open an account in this broker are registered under IC Markets SEY that is based in Seychelles, and regulated under the Seychelles Financial Services Authority (SFSA). The dual operation is a result of the relatively new rules from ASIC that prohibit their regulated broker to offer trading services outside Australia.
Classified as an ECN broker, IC Markets provide clients with MetaTrader 4, MetaTrader 5, cTrader as platform trading options. This broker also follows market trends to include Cryptocurrencies as one of its products, enriching its already wide selection of trading assets that include Currencies, Indices, Metals, Energies, Softs, Stocks, as well as Bonds.
The minimum deposit in IC Markets is in the middle range compared to other ASIC-regulated brokers, as it reaches $200 for every client. Market analysis materials are also prepared regularly for trading insights on IC Markets's official website, proving their competence to serve their traders with important contents created by market experts that work specifically for them.
For payment methods, IC Markets allows funding and withdrawal via wire transfer, credit card, PayPal, Skrill, Neteller, FasaPay, UnionPay, as well as Bitcoin via BitPay. The more interesting aspect from this broker is its multi-base currencies that include USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD.
As the trading technology in IC Markets is highly equipped with co-located servers and extremely low latency (especially on cTrader), the broker is widely known for its capability in hosting traders with the special needs for high-frequency trading as well as scalping.
To sum up, IC Markets is a fitting destination for active traders looking for a well-regulated broker. IC Markets is also flexible in terms of base currency and payment methods, signaling their commitment to welcome traders beyond their home country. As of late 2019, IC Markets provided their website in 18 international languages including English, Korean, Indonesian, French, Spanish, Italian, Malay, German, and Chinese.
RoboForex
RoboForex was founded in 2009 and is one of the most trusted brokers in the industry. They are offshore-based so they offer some really great assets at market competitive rates. They have a raw spread account which they offer at a minimum deposit of $10.
Through this raw spread account, you'll have access to 36 currency pairs, Metals, CFDs, and Cryptocurrencies. Despite being located offshores, they have pretty great reviews and have built a trusted name for themselves over the years in the forex space.
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.
LiteFinance
LiteFinance, also previously known as LiteForex, is a forex broker that is well known for its social trading platform and raw spread accounts. They were founded in 2005 and are offshore-based. They offer their raw spread account on a minimum deposit of $50. Note that this account charges a commission of about $0.5 per lot which is actually one of the best rates in the industry. You even get free access to their social trading platform with this account.
Regulated by the Cyprus Securities and Exchange Commission (CySEC), LiteForex is also subjected to the European Securities and Markets Authority (ESMA). However, aside from basing its operation on Cyprus, LiteForex also branched to the Marshall Islands. Here, LiteForex hasn't been regulated by any financial regulator yet and conducts its operation under the name of LiteForex Investments Limited (different from LiteForex European Limited which is regulated under CySEC).
Based on some traders' experience registering in LiteForex, the company doesn't strictly limit EU-based traders to LiteForex European Limited. Such traders can openly register under LiteForex Investments Limited that is not subjected to higher leverage restrictions issued by ESMA.
Trading assets in LiteForex range from Currency, Metals, Oil, Stock in CFD, Global Indice, as well as Cryptocurrency. More importantly, the broker provides traders with the chance of trading more than 40 large American companies' Stocks in CFDs.
With the support of both MetaTrader 4 and 5 platforms, LiteForex traders are given the freedom of trading various instruments with the most well-known technologies in trading. It is also the gateway to access an extremely wide selection of custom indicators and Expert Advisors that everyone can discuss and download in MQL4 and MQL5 sites.
ECN and Classic are the only account types offered by LiteForex. Although relatively limited, the account choices have managed to accommodate the majority of traders' needs, particularly those with early to intermediate levels of trading experience.
Interestingly, LiteForex boasts its capability of giving an annual interest for ECN traders which amounts to 2.5% of the accumulated daily free margin. As a complimentary, LiteForex also built a Social Trading system that manages to completely resemble a social media platform with special features solely based on usual trading necessities. The said platform is also easily integrated with traders' Member Area.
On the payment methods' front, LiteForex provides a lot of choices ranging from standard Bank Transfer to electronic payments like Skrill and Neteller. This broker is also known for its ongoing Zero Fees program that relieves traders from the attached fees from each method payment.
More than its commitment to ease traders' experience in terms of payment and trading, Liteforex used to be recognized as one of the first brokers initiating the innovation of Cent Account for small traders, thus the name "Lite". However, the company's focus seems to change over the years so they now choose to limit their service only to ECN and Classic traders.
Furthermore, LiteForex has been serving global retail traders since 2005, an accomplishment not many forex companies can achieve. Therefore, it can be concluded that even though LiteForex is operating as an offshore forex broker, its durability for more than 10 years serves as a reminder of retail traders' trust.
Another thing to note from this broker may come from its expansion to Asian countries and their passionate effort to penetrate the markets profoundly. Not only the language support in the official website, but LiteForex also goes beyond to maximize its commitment by providing local payments and other means specifically tailored for each country's traders.
To keep their traders engaged in more trading activities, LiteForex also holds seasonal trading contests and various kinds of promotional bonuses. Their profile in numerous review sites also indicates a relatively safe broker for retail traders.
Yet, it is important to note that LiteForex offers its service globally as LiteForex Investments Limited which hasn't been registered to any financial regulations. This may subject traders to difficulties in filing complaints and compensation claims should there be unfortunate incidents in the future.
But if we take a look at its long-standing as a comparatively experienced broker since 2005, it is quite safe to say that trading in LiteForex can be considered quite reliable, especially considering its status as an offshore brokerage.
Axiory
Axiory is a global forex and CFD broker. It was established in 2011 and is relatively new to the industry. Due to being located offshores, they're able to offer a lot more financial assets for trading to their clients. This has made them extremely popular among traders worldwide.
They're also well-known for having $10 minimum deposit requirements on some of their account types. This includes their Alpha account which is a raw spread account. This account has spreads starting from 0 pips and they charge a commission of about $1.5/lot.
Blackwell Global
Blackwell Global is an international company that provides all sorts of financial services. They were founded in 2010 and have offices all around the globe with their headquarters in the UK. In order to promote their services, they're offering all their account types on a $1 minimum deposit. This includes their raw spread account which offers the tightest spreads on a commission of about $9 per round lot. This is a highly trusted broker as it is regulated by some of the best regulatory bodies including the top-tier Financial Conduct Authority UK (FCA).
Forex4You
Forex4You is an offshore forex broker. Despite being established in 2007, they have yet to gain the trust of traders worldwide. In order to promote their services, they've offered their accounts for $1 minimum deposit requirements. This includes their raw spread account which has spreads starting at 0 pips with a commission of $8 per lot. This broker is not regulated by any trusted regulatory broker and therefore should be traded with caution.
ForexChief
ForexChief is an offshore broker that offers about 35 financial assets for trading which include forex pairs, CFDs, and other derivatives. They were founded in 2018 and are relatively new to the industry.
They offer a raw spread account on a minimum deposit of $10. Through this account, you'll have access to the tightest spreads at a commission of $15 per lot. The commission is pretty high compared to other brokers. They aren't regulated by any top-tier broker which is why the high commissions don't even make sense.
Some of the low deposit raw spread account offerings you find out there could be a marketing trick to lure you in. Therefore, it is important to understand the background and reputation before deciding which broker to choose, especially if you are a beginner.