Brokers With Low Minimum Deposit
Brokers with low minimum deposits are great for traders starting out – facilitating quick and easy access to the financial markets. So whilst many forex and stock trading platforms require thousands to open an account, some of the best online brokers offer little or no cash requirement. Here, we explain the benefits and drawbacks of platforms that require minimal capital outlay and list the top brokers with low minimum deposits.
Best Brokers With The Lowest Minimum Deposit
These are the best brokers for new traders with the lowest minimum deposit requirements:
- AvaTrade
- OANDA US - $0
- Deriv.com - $5
- Pepperstone - $0
- XM - $5
Brokers With Low Minimum Deposit Comparison
| Broker | Minimum Deposit | Minimum Trade | Deposit Methods | Leverage | Visit |
|---|---|---|---|---|---|
|
- | 0.01 Lots | Boleto, Credit Card, Debit Card, FasaPay, JCB Card, Mastercard, MoneyGram, Neteller, Perfect Money, Skrill, Swift, WebMoney, Wire Transfer | 1:30 (Retail) 1:400 (Pro) | Visit |
|
$0 | 0.01 Lots | ACH Transfer, Debit Card, Mastercard, Visa, Wire Transfer | 1:50 | Visit |
|
$5 | 0.01 Lots | 1ForYou, ADVcash, Airtm, AstroPay, Banxa, Boleto, Credit Card, Diners Club, FasaPay, JCB Card, JetonCash, Maestro, Mastercard, Neteller, Paysafecard, Paytrust, Perfect Money, Skrill, Sticpay, Trustly, Visa, WebMoney, Wire Transfer | 1:1000 | Visit |
|
$0 | 0.01 Lots | BPAY, Credit Card, Debit Card, Mastercard, Neteller, PayPal, POLi, Skrill, UnionPay, Visa, Wire Transfer | 1:30 (Retail), 1:500 (Pro) | Visit |
|
$5 | 0.01 Lots | Apple Pay, Credit Card, Debit Card, Google Wallet, M-Pesa, Neteller, Perfect Money, Skrill, TransferWise, Visa, Wire Transfer | - | Visit |
|
$50 | 0.01 Lots | Credit Card, Mastercard, Neteller, Perfect Money, QIWI, Skrill, Visa, Western Union | 1:30 | Visit |
|
$0 | 0.01 Lots | BPAY, Credit Card, Debit Card, Mastercard, PayID, PayNow, PayPal, Visa, Wire Transfer | 1:30 (Retail), 1:50 (Accredited Investor), 1:200 (Sophisticated Investor), 1:300 (Wholesale Investor), 1:400 (Professional Trader). Varies with jurisdiction. | Visit |
|
$10 | 0.01 Lots | Bitcoin Payments, Boleto, Credit Card, Mastercard, Visa, Wire Transfer | 1:2000 | Visit |
|
$50 | $10 | Debit Card, iDeal, Klarna, Neteller, PayPal, Przelewy24, Rapid Transfer, Skrill, Sofort, Swift, Trustly, Visa, Wire Transfer | - | Visit |
|
$10 | 0.01 Lots | ADVcash, Alipay, AstroPay, Cashu, ecoPayz, Giropay, iDeal, MoneyGram, Neteller, Perfect Money, POLi, Rapid Transfer, SafeCharge, Skrill, Sofort, Trustly, Vietcombank Transfer, Visa, WeChat Pay, Wire Transfer | 1:2000 | Visit |
|
- | - | AstroPay, Bitcoin Payments, Ethereum Payments, Giropay, Mastercard, Neteller, Przelewy24, Rapid Transfer, Skrill, Visa, Wire Transfer | - | Visit |
|
£0 | £25 | Cheque, Debit Card, Maestro, Mastercard, Visa, Wire Transfer | - | Visit |
|
$20 | 0.01 Lots | Bitcoin Payments, Credit Card, Debit Card, Mastercard, PayRedeem, Visa | 1:1000 | Visit |
|
$0 | 0.1 Lots | Credit Card, Debit Card, Mastercard, PayPal, Skrill, Visa, Wire Transfer | 1:500 (entity dependent) | Visit |
|
- | 0.01 Lots | Apple Pay, Klarna, Mastercard, Neteller, PayPal, Skrill, Trustly, Visa, Wire Transfer | - | Visit |
#1 - AvaTrade
Why We Chose AvaTrade
AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, alongside a comprehensive education center and multilingual customer support.
"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting
- Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM
- Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
- Minimum Trade: 0.01 Lots
- Leverage: 1:30 (Retail) 1:400 (Pro)
Pros
- There's a great range of fee-free deposit methods, including bank wire, credit cards and popular e-wallets like Skrill
- The broker’s unique risk management tool, AvaProtect, protects against losses up to $1 million and is easy to activate in the platform
- WebTrader is well-suited to beginners and features a strong suite of technical analysis tools and market research for day traders
Cons
- Traders from the US are not accepted
- There is no ECN account with raw spreads
- There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
#2 - OANDA US
Why We Chose OANDA US
OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.
"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."
- DayTrading Review Team
- Instruments: Forex, Crypto
- Regulator: NFA, CFTC
- Platforms: OANDA Trade, MT4, TradingView, AutoChartist
- Minimum Deposit: $0
- Minimum Trade: 0.01 Lots
- Leverage: 1:50
Pros
- The broker's API facilitates access to 25 years of deep historical data and rates from 200+ currencies
- Seasoned day traders can access industry-leading tools, including an MT4 premium upgrade and advanced charting provided by MotiveWave
- The broker offers a transparent pricing structure with no hidden charges
Cons
- There's only a small range of payment methods available, with no e-wallets supported
- It's a shame that customer support is not available on weekends
- The range of day trading markets is limited to forex and cryptos only
#3 - Deriv.com
Why We Chose Deriv.com
Deriv.com is a low cost, multi-asset broker with over 2.5 million global clients. With just a $5 minimum deposit, the firm offers CFDs, multipliers and more recently accumulators, alongside proprietary synthetic products which can't be found elsewhere. Deriv provides both its own in-house charting software and the hugely popular MetaTrader 5.
"Deriv.com will suit day traders looking to make fast-paced trades using CFDs and multipliers with high leverage up to 1:1000. The broker is also the industry leader in synthetic indices, which simulate real market movements and are available around the clock. "
- DayTrading Review Team
- Instruments: CFDs, Multipliers, Forex, Stocks, Indices, Commodities
- Regulator: MFSA, LFSA, VFSC, BFSC
- Platforms: Deriv Trader, MT5
- Minimum Deposit: $5
- Minimum Trade: 0.01 Lots
- Leverage: 1:1000
Pros
- Beginners and experienced day traders can access a good range of 20+ technical indicators in Deriv Trader vs 30+ in MT5
- Traders can use multipliers between 1 and 30, with take profit, stop loss and deal cancellation parameters
- The free demo account is ideal for practicing short-term trading strategies and no registration is required
Cons
- There's no loyalty program or rebate scheme for high volume traders
- There are limited copy trading tools and analysis features compared to alternatives like IQ Cent
- The range of 100+ assets trails some competitors such as Quotex which offers 400+
#4 - Pepperstone
Why We Chose Pepperstone
Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.
"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."
- DayTrading Review Team
- Instruments: CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
- Regulator: FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
- Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
- Minimum Deposit: $0
- Minimum Trade: 0.01 Lots
- Leverage: 1:30 (Retail), 1:500 (Pro)
Pros
- Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.
- There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
- Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for day trading.
Cons
- Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.
- There’s no simplified proprietary trading platform, nor are there any social trading features, which could be a disadvantage if you are new to day trading.
- Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
#5 - XM
Why We Chose XM
XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.
"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."
- DayTrading Review Team
- Instruments: Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures
- Regulator: ASIC, CySEC, DFSA, FSC, FSCA
- Platforms: MT4, MT5
- Minimum Deposit: $5
- Minimum Trade: 0.01 Lots
Pros
- XM is a hugely respected broker authorized by tier-one regulators
- The broker offers premium research including market sentiment, fundamental insights and strategy builders
- 1000+ instruments are available, including recently added thematic indices, providing exposure to emerging industries
Cons
- There's $5 inactivity fee after only 3 months, though this won't affect active traders
- There is weak regulatory oversight through the global entity
- PayPal deposits are not supported
Minimum Deposits Explained
Online brokers typically require a deposit to set up an account and start trading. So whether you’re trading stocks, forex or binary options, you’ll often need to put down hundreds or thousands before you can open a position. Of course, minimum deposits vary between providers.
Brokers with low minimum deposits can appeal to traders looking to test a live account before investing significant cash. They can also be used to diversify risk exposure by breaking up a large pot between multiple strategies and platforms. Additionally, some strategies can only be tested under real-market conditions, so a paper trading account won’t tick the box.
Market makers, brokers that take the opposing side of trades, generally have the lowest minimums, though ECN forex brokers can also offer little to no deposit requirement. But while capital requirements may vary, it’s important to still choose a broker that’s regulated and offers the trading tools you need to be successful. For example, brokers in Europe are usually regulated by the CySEC while Australian traders should look for licensing from the ASIC and UK investors for oversight from the FCA. Equally, South African and Kenyan investors should check providers are licensed in their jurisdiction.
Pros Of Brokers With Low Minimum Deposits
There are several benefits to opening an account with low or no minimum deposit:
- Beginners – New starters can learn about the forex market, for example, without risking more than they can afford.
- Access – If you want to test several markets, you can spread your pot across multiple assets, from indices like the NASDAQ to precious metals such as gold.
- Order size – Brokers with low minimum deposits may accept smaller order sizes which can appeal to those with less cash.
- Resources – Most brokers provide a range of guides, tutorials and tips to help support trading strategies, and a small deposit, even just $1, could grant you access to a company’s suite of tools.
Cons Of Brokers With Low Minimum Deposits
There are several drawbacks to using brokers with low minimum deposits:
- Scams – There are a large number of retail trading scams online. And some brokers may lower capital requirements to reel traders in. As a result, investors should check a broker is still regulated by the relevant authority and receives positive reviews.
- Hidden fees – Platforms may reduce cash requirements and then charge extra for other trading services, from account inactivity fees to monthly maintenance costs. That’s why it’s important to opt for a legitimate broker with transparent pricing.
Final Word
Online brokers with low or no minimum deposits are a great option for new traders. They connect investors to the financial markets, allowing traders to test a broker’s range of services or refine strategies. However, it’s important not to forget that you still need a legitimate platform with the necessary tools, market access, and regulatory protection. Check out our list of the best brokers with low minimum deposits to start trading today.
FAQ
Why Do Brokers Require A Minimum Deposit?
Online brokers require an initial payment to cover the costs of creating an account and to ensure traders have enough capital to open positions in their chosen market. Minimum deposits vary from several thousand dollars to just $1.
Who Are The Best Binary Options Brokers With Low Minimum Deposits?
Among the best binary options platforms accepting low deposits is IQ Option. A $10 payment is needed to get started and clients can trade cryptocurrencies, stocks and digital options. For more alternatives, see the list of low deposit binary options brokers.
Can I Trade Forex With $1?
Yes, some online brokers offer minimum deposits from just $1, including regulated trading platforms. See our list for leading recommendations and detailed reviews.
Which Online Brokers Have A Minimum Deposit Of $10?
There are a number of trading platforms offering deposits from just $10, including RoboForex and FXTM. Both provide access to a range of leveraged trading products with competitive spreads and reliable customer support.
Who Are The Best HFX Brokers With Low Minimum Deposits?
Some of the best FX brokers with low minimum deposits include Forex.com and XM. They offer an impressive suite of tools and hundreds of trading assets alongside free mobile applications.