Table of Contents
Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Top-Rated Micro Account Forex Brokers

By Huzefa Hamid
Reviewer Adam Lemon
Fact-checker DailyForex.com Team

I’m a trader and manage my own capital. I trade the major Forex pairs, some Futures contracts, and I rely entirely on Technical Analysis to place my trades. Today, I am also a Senior Analyst for DailyForex.com. I began trading the markets in the early 1990s, at the age of sixteen. I had a few hundred British pounds saved up (I grew up in England), with which I was able to open a small account with some help from my Dad. I started my trading journey by buying UK equities that I had read about in the business sections of newspapers. The 1990s were a bull market, so naturally, I made money. I was fortunate enough in my early twenties to have a friend that recommended a Technical Analysis course run by a British trader who emphasized raw chart analysis without indicators. Having this first-principles approach to charts influences how I trade to this day.

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.

The most effective way to learn how to trade Forex is in a micro account with a small deposit. It offers a real trading experience and prevents beginner traders from falling victim to the “demo account trap”, where success in a demo environment is incorrectly believed to prove readiness for success in a real money environment.

74-89 % of CFD traders lose
1
4.9/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
24/5 + 18/2 customer support & Quality education and research for beginners.
No minimum deposit requirement & a choice of payment processors and currencies.
2
4.7/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Micro lots trading from 0.01 lots or 1,000 currency units.
24/7 multi-lingual customer support & quality beginner education.
3
4.6/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
0.01 lot minimum trade size & competitive, commission-based trading fees
Superb choice of cutting-edge trading tools like Capitalise AI for code-free algo trading.
4
4.6/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
24/7 customer support via live chat & quality education and research.
Micro lots trading from 0.01 lots or 1,000 currency units.
5
4.5/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Micro lots trading from 0.01 lots or 1,000 currency units.
A well-balanced asset selection, including options, ETFs, and crypto.

  • Pepperstone, Great ECN execution on MT4/5, cTader, TradingView and Pepperstone proprietary platform..
  • FP Markets, ECN trading with leverage up to 1:500.
  • Eightcap, Competitive pricing + excellent daily videos.
  • BlackBull Markets, Best ECN trading environment, with scalping and hedging.
  • AvaTrade, Highly regulated, choice of fixed or floating spreads.

Comparison of the Best Micro Account Brokers

Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCBASIC, CMA, CySEC, FSCAASIC, CySEC, FCA, SCBFMA, FSAASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFID
Year Established
20102005200920142006
Execution Type(s)
No Dealing Desk, NDDECN/STPECN/STP, Market MakerECN/STP, No Dealing DeskMarket Maker
Minimum Deposit
$0
$100
$100
$0
$100
Average Trading Cost EUR/USD
1.1 pips1.2 pips1.0 pips1.3 pips0.9 pips
Average Trading Cost GBP/USD
1.4 pips1.4 pips1.2 pips2.0 pips1.5 pips
Average Trading Cost Gold
$0.15$0.16$0.12 $0.90 $0.29
Trading Platform(s)
MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading ViewMetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-basedMetaTrader 4, MetaTrader 5, Trading ViewMetaTrader 4, MetaTrader 5, cTrader, Trading ViewOther, MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based+
Islamic Account
Negative Balance Protection
N/A

Pepperstone

In Summary Great ECN execution on MT4/5, cTader, TradingView and Pepperstone proprietary platform.

Pepperstone ranks among the best micro account Forex brokers due to its cutting-edge trading environment. It upgrades the out-of-the-box MT4/MT5 trading platforms with the Smart Trader Tools package, featuring 28 plugins. Autochartist is also available, but Capitalise AI, which supports algorithmic trading in a code-free environment, sets Pepperstone apart from most competitors.

The well-balanced asset selection, including cryptocurrencies and ETFs, plus competitive commission-based trading fees, ensure traders pay less and earn more. Pepperstone connects social traders to TradingView, where 50M+ traders interact and share ideas. Copy traders get embedded MT4, MT5, cTrader service, the well-known Myfxbook Autotrade, and DupliTrade.

Read more on Pepperstone »
4.9/5 in this category
Get Started
74-89 % of CFD traders lose

Pros & Cons

  • Excellent choice of trading platforms consisting of MT4/MT5, cTrader, TreadingView and Pepperstone Platform
  • Market-leading MT4/MT5 upgrade package, Autochartist, and API trading
  • Social trading support via Signal Start, MetaTrader Signals, Copy Trading by Pepperstone, DupliTrade
  • Leverage of up to 1:400 depends on jurisdiction and superb trade execution
  • Demo accounts have 60-day time limits

FP Markets

In Summary ECN trading with leverage up to 1:500

FP Markets upgrades the MT4/MT5 trading platforms with 12 plugins, Trading Central and Autochartist. The well-balanced asset selection, including cryptocurrencies, ETFs, and bonds, while the commission-based account features raw spreads from 0.0 pips for a commission of $6.00 per 1.0 standard round lot. FP Markets maintains excellent payment processor choices, including cryptocurrencies, and a reasonable $100 minimum deposit requirement. It places FP Markets highly on my best micro account brokers listing.

Copy traders can diversify via the in-house FP Markets Copy Trading solution, embedded copy trading services in MT4, MT5, cTrader, or fee-based Signal Start and Myfxbook Autotrade.

Read more on FP Markets »
4.7/5 in this category

Pros & Cons

  • Choice of trading platforms and auxiliary trading tools
  • Very competitive cost structure and excellent asset selection
  • Low minimum deposit requirement and leverage of up to 1:500
  • Well-regulated and trustworthy
  • Availability of Iress geographically restricted

Eightcap

In Summary Competitive pricing + excellent daily videos

Forex trading has lower capital entry requirements, but beginners often approach it with $100 or less. It makes standard Forex trading accounts unsuitable, and smaller portfolios require micro lot trading. Eightcap offers minimum transaction sizes of 0.1 lots, which is 1.0 micro lot. Unlike many competitors, Eightcap maintains the same competitive trading fees, as it does not feature a stand-alone account type for micro lot trading.

Eightcap also ensures beginners have quality educational content and connects accounts to the active TradingView community. MT4/MT5 has embedded copy trading services, and Capitalise AI allows traders to automatize strategies in a code-free environment.

Read more on Eightcap »
4.6/5 in this category

Pros & Cons

  • Low minimum deposit and high leverage of up to 1:500
  • Competitive cost structure
  • Excellent technology infrastructure and seasoned management team
  • Daily research and quality educational content
  • Limited leverage in some areas

BlackBull Markets

In Summary Best ECN trading environment, with scalping and hedging

I consider BlackBull Markets among the best micro account brokers as it has no minimum deposit requirement and supports cryptocurrency deposits and withdrawals. It makes BlackBull Markets one of the most accessible micro lot Forex brokers. Traders get the Autochartist for MT4/MT5 and the out-of-the-box cTrader trading platform. Competitive leverage with negative balance protection and deep liquidity ensures traders have an edge.

BlackBull Markets is also a leading copy and social trading option for micro lot traders. Copy trading solutions are the embedded MT4/MT5/cTrader services, BlackBull Markets CopyTrader, ZuluTrade, and Myfxbook Autotrade. Social traders can connect via TradingView.

Read more on BlackBull Markets »
4.6/5 in this category

Pros & Cons

  • ECN/NDD execution model with deep liquidity
  • Institution-grade pricing for retail traders via proprietary price aggregation
  • ZuluTrade and Myfxbook for social trading
  • Leverage of up to 1:500
  • Limited deposit options

AvaTrade

In Summary Highly regulated, choice of fixed or floating spreads

Beginners receive industry-leading education via the spun-out Ava Academy and on-site content, the MT4 Guardian Angel plugin, and the fee-based Ava Protect insurance policy protecting against losses. AvaTrade also maintains reasonable commission-free Forex costs from 0.9 pips or $9.00 per lot. Therefore, I rank AvaTrade among the best micro account brokers.

AvaTrade developed its WebTrader and mobile app AvaTradeGO with embedded Trading Central services and the specialized trading platforms Ava Option and Ava Social. Algorithmic traders can manage portfolios from the MT4/MT5 trading platforms. The high-paying partnership program features 70,000+ registered partners from 150+ countries and $250,000,000+ commission payouts.

Read more on AvaTrade »
4.5/5 in this category

Pros & Cons

  • High quality educational offering via AvaAcademy
  • Excellent choice of trading platforms catering to various trading needs
  • Broad asset selection and cross-asset diversification opportunities
  • Well-regulated and trusted broker with oversight from a central bank
  • Trading costs competitive but nothing special

Top Forex Brokers with Mini, Micro, & Cent Accounts

We have researched the best micro account Forex brokers so that you can choose the best Forex broker to use to start Forex trading in a beginner-friendly and competitive trading environment. We also outline the benefits of a micro account Forex and assist you in deciding between a micro vs. standard option.

What is a Micro Account?

A micro account is the best option for retail traders to learn how to trade with a small deposit in a live account. While not every broker offers a dedicated Forex micro account, most brokers support micro lot trading from 0.01 lots, or 1,000 currency units.

Benefits of a micro account:

  • Ideal for exposure to live trading conditions without risking much capital.
  • Low minimum deposit requirements.
  • Allows copy traders to evaluate signal providers.
  • Algorithmic traders can test and bug-fix EAs and other algorithmic strategies.
  • Advanced traders can test new strategies or tweak existing ones.
  • 1.0 micro lot equals 1,000 currency units, and traders can place trades from 0.10 lots or ten currency units.

Tips on using a micro account:

  • Learn about psychology and risk management before making a deposit.
  • Understand the relationship between risk management and leverage.
  • Consider how much money you can afford to deposit before trading with real money.

Micro vs. Standard Account

A Forex micro account offers traders notably more flexibility for smaller portfolios, as they can transact from as little as ten currency units, or 0.10 micro lots, versus 1,000 currency units, or 0.01 standard lots in a standard account. It also lowers the pip value to a minimum of $0.01, which may seem insignificant but makes a difference once traders take dozens of positions.

Beginner traders should consider learning how to trade in a micro account vs. a standard account, as they can get exposure to live trading conditions with small deposits. It increases their longevity and educational value before earning their way into a standard account. The lower minimum deposit requirements also ensure all types of traders have access to the most efficient form of learning how to trade.

Here are the primary differences between a micro vs. standard account:

  • 1.0 lot equals 1,000 currency units vs. 100,000 currency units.
  • Minimum trade size of 0.10 lots or ten currency units vs. 0.01 lots or 1,000 currency units.
  • Pip value per lot, if the base and quote currencies are in US Dollars of $0.10 vs. $10.00.

Trading with a Micro Account - Pros & Cons

Before choosing among the best micro account Forex brokers, I recommend traders consider the pros and cons.

The pros of micro account Forex brokers include:

  • Low minimum deposit requirement.
  • High leverage with negative balance protection.
  • Low trading volumes and pip values.
  • Ability to learn Forex trading in live trading conditions.
  • Testing new strategies and tweaking existing ones.
  • Evaluating signal providers
  • Testing and bug-fixing algorithmic trading solutions.

The cons of micro account Forex brokers include:

  • Limited availability
  • Decreased profit potential for the same effort.

Tips for Choosing a Micro Account Forex Broker

I focused my best micro account Forex brokers criteria on the following aspects, as they apply to all traders, irrelevant to individual preferences and requirements.

  • Regulation - A clean regulatory track record exceeding 10+ years.
  • Low Forex trading fees - Competitive fees and low swap rates, including positive ones.
  • Trading platforms - Traders should ensure algorithmic, copy, and mobile trading capabilities.
  • Asset diversity - A choice of liquid trading instruments.
  • Deposits/Withdrawals - Low minimum transaction requirements and no internal fees.

Bottom Line

When evaluating a Forex micro vs. standard account, new traders should always opt for the former. It remains the best option to learn how to trade, work on trading psychology, risk management, and trading strategies while avoiding the “demo account trap” that leads most traders to lose their capital.

You might also be interested in reviewing the below top brokers:

FAQs

What is a cent account in Forex trading?

expand.png

A cent account in Forex allows traders to transact in micro lots, with the smallest possible size of 0.10. The pip value of a 0.10 lot trade in a micro account is just $0.01, hence the name cent account.

What is a micro account in Forex?

expand.png

A micro account in Forex is the more commonly used name for a cent account. It grants traders exposure to pip values as low as $0.01, allowing traders to manage smaller portfolios of sub-$100 effectively. They are ideal for new traders to learn and for seasoned traders to test new strategies.

What is the best leverage for a micro account?

expand.png

Most Forex brokers offer 1:500, while some grant an improvement to 1:1000 and even 1:2000. The most critical aspect of leverage remains risk management and the strict implementation of it.

Can I trade Forex with $10?

expand.png

While it is possible to trade with $10 in a micro account in Forex, I recommend no less than $100. Traders with less than $1,000 should always consider the advantages of micro vs. standard. Most brokers have a limitation on the maximum balance allowed in a micro account before upgrading to a mini or standard alternative.

Can I trade Forex with cents?

expand.png

Yes, you can trade Forex as small as 10 cents per pip, but even if you profit, it is probably going to be very little.

Is a cent account profitable?

expand.png

Whether you use a cent account or another differently sized account, it will not have any effect upon your profitability.

What is the minimum lot size for a cent account?

expand.png

The minimum lot size for a cent account is 0.01 lots, which is equal to 1 micro-lot.

What is an MT4 cent account?

expand.png

An MT4 cent account is a cent account, allowing trading in minimum lot sizes of 0.01 lots, which can be traded with the MetaTrader 4 trading platform.

Huzefa Hamid
About Huzefa Hamid

I’m a trader and manage my own capital. I trade the major Forex pairs, some Futures contracts, and I rely entirely on Technical Analysis to place my trades. Today, I am also a Senior Analyst for DailyForex.com. I began trading the markets in the early 1990s, at the age of sixteen. I had a few hundred British pounds saved up (I grew up in England), with which I was able to open a small account with some help from my Dad. I started my trading journey by buying UK equities that I had read about in the business sections of newspapers. The 1990s were a bull market, so naturally, I made money. I was fortunate enough in my early twenties to have a friend that recommended a Technical Analysis course run by a British trader who emphasized raw chart analysis without indicators. Having this first-principles approach to charts influences how I trade to this day.