Forex is indeed a very big market and there are large numbers of brokers available lately. There are thousands of brokerage firms that have mushroomed lately offering expertise in financial instruments. These brokers share a similar set of characteristics with each other and also differ from each other at the same time. Like for instance, one broker can differ from another in terms of trading platform, assets coverage, markets so provided, the minimum amount required to open a trading account and many others. The initial amount to start the Forex trading varies considerably as you can spot one broker asking $25 to open an account while on the other hand there are brokers who even require you to deposit a minimum of $5,000 to start trading.
Obviously, not everyone is rich and have a large amount of capital with them. As a result of which only a few people have the luxury of opening a trade account by investing $5000 up front. If you are one of those people who are not financially stable and don’t have sufficient amount of money, there is no need to worry. There are lowest deposit Forex brokers available especially for the newbie traders where they can start their FX career by depositing very small amount of money. In this way, you will not be able to risk your hard earned money and even if you experience losses, it will not have a drastic impact on your overall financial condition.
Best Rated Lowest Deposit Forex Brokers
When you get online you will be able to come across numerous brokers that offer low deposit in order to open a trading account. You should know that not all low deposit Forex brokers are best as some of them are rather questionable. It is just a tactic or ruse for them to attract new customers. Given below are two of the very best merchants you should know about if you are interested in Forex brokers that require lowest deposits:
- EasyForex: It is a very popular Forex broker which is regulated by CySec, CFTC, and ASIC. It requires just $25 to start the trading account and it offers leverage up to 400:1. It offers 4 different types of trading platform namely Web Trading, Meta Trader 4, Trade Desk and iPhone App. Customer service is very satisfactory with 24 hours assistance available throughout the business days of the week. It is a very reliable merchant that offers payouts up to 85% with fixed spreads. The payment method is very good and it incorporates all the popular payment services for deposits and withdrawals. The trading platform has a rich interface and it is a very good broker for the newbie traders.
- HotForex: It is a very promising and a committed broker for FX trading. Minimum amount to open an account is just $5 which is really very nice. It is regulated by CySec and FSC and offers a leverage ratio of 1000:1. It offers 8 different types of the trading platform with the best innovative features and great trade executions. There is no downloads or installations required and is graphical intuitive at the same time. The spreads start from 0.2 pips and one can deposit and withdraw money through several payment services like bank wire transfer, Webmoney, Ukash, Neteller, CashU etc. The staff members are very professional and have the best knowledge of the market. Customer support is available 24 hours all 5 days a week and that too in 12 different languages. There are wide varieties of trading instruments available and one can get high bonuses with great special promotions.
Benefits of Trading Forex with Small Amount
It is sometimes very convenient for traders concerned to commence their FX career with small deposits. By trading a mini lot and investing a small amount of money, the trader will not gain the desired amount of experience in online trading but at the same time protect themselves from the financial losses; if any. Once the trader gets the substantial amount of experience, they can head further with larger amounts for Forex trading. There are mini Forex accounts available where you can test the overall service of the broker concerned and its trading platform. You can also check for any other additional features the broker has to offer. In this way, you will be able to access the best lowest deposit Forex broker for your less-risky Forex trading.
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