Casual forex traders might be on the lookout for a broker that offers micro lots. This amounts to 1% of a standard lot, so USD/CAD, for instance, would amount to a minimum position size of 1,000 units – or $1,000.To get more news about best micro account forex brokers , you can visit wikifx.com official website.
In this guide, we review the best micro forex accounts for fees, tradable markets, analysis tools, customer service, regulation, spreads, and more. Best Micro Forex Accounts Reviewed In order to select the best micro forex account, traders should focus on what fees the broker charges, what the minimum deposit amounts to, and how competitive spreads and commissions are. Other important metrics to consider include customer support, tradable currency pairs, and the availability of analysis tools. 1. eToro – Overall Best Micro Forex Account for 2023 Often billed as one of the best forex brokers for beginners, eToro is another top-rated option to consider today. This user-friendly platform offers a minimum lot size of 0.01 alongside leverage. As a result, retail clients wishing to stake the absolute minimum will only require a capital outlay of $33.33 per trade.
As noted earlier, this is based on a lot size of $1,000 alongside leverage of 1:30. eToro offers access to nearly 50 currency pairs across the majors and minors, alongside a selection of popular exotics. The platform operates a spread-only pricing system that starts from 1 pip on EUR/USD. 2. XTB – 0.01 Lot Account With Spreads That Start From 0.1 Pips
XTB is another option to consider when searching for the best micro forex account. It takes just five minutes to get set up with XTB and there is no first-time deposit to meet. Payments can be made via a debit/credit card without charge, or Skrill at a 2% fee.
XTB is very competitive when it comes to fees. No commissions are charged when trading forex or any other supported market and spreads start from just 0.1 pips. There are more than 2,100 CFD instruments on offer at XTB, which, in addition to forex, includes stocks, ETFs, crypto, and commodities. 3. Avatrade – 0% Commission Forex Broker With Tight Spreads AvaTrade logoThe next broker to consider on our list of the best micro forex accounts is AvaTrade. This heavily regulated CFD trading platform offers 0% commission markets across all of its supported asset classes. This is inclusive of 55 forex pairs, alongside commodities, crypto, indices, and stocks.
Spreads are typically competitive here considering the 0% commission pricing structure on offer. For instance, EUR/USD starts at just 0.9 pips. Moreover, no deposit or withdrawal fees are charged by AvaTrade and the minimum first-time funding requirement amounts to just $100. Debit/credit cards are supported too. 4. Pepperstone – Raw Spread Accounts With a Minimum Lot Size of 0.01 Pepperstone is a regulated CFD broker that offers one of the best micro forex accounts for those seeking low spreads. Put simply, the Pepperstone razor account offers ECN-like spreads, not least because traders will have access to institutional-grade currency quotes.
Not only that, but the razor account comes without a minimum deposit requirement and lots of 0.01 can be traded. To benefit from ECN-like spreads, a commission of $3.50 will be taken from each lot that is traded. Therefore, by trading the minimum of 0.01 lots, this would amount to a commission of under 4 cents.
