For me 1:500 is too good and deposit should be under $50. I lost hundreds many times. $50 to test out a broker is worth.
With what I’ve heard, but I don’t know how true it is, is that you can almost never succeed if you join the forex market with a low deposit
Consider Exness, Hotforex or Tickmill, for low deposits and infrequent manual trading you will likely not be able to spot difference
I think hotforex offers 5usd deposits good for testing, and 100usd for bank wire, but always double check with support to be sure, and make sure your account is fully verified.
Exactly what i`ve mean.
Though starting with $100 is the best deal for beginners to start with. Some brokers like AximTrade is also offering minimal deposit requirements starting from $1 where traders can choose from Standard, CENT, ECN and Infinite Leverage trading accounts.
I have found fxview’s deposit fees quite low and reasonable, you can start trading for just 5 dollars with them.
I suggest trading with ICM or FP Markets for low deposits because ICM has a minimum opening balance of $200 AUD with an $8 commission cost per lot round, and FP Markets has a $100 AUD with a $6 commission cost per lot round.
You can also give a try to turnkey forex, min deposit is $10 plus commissions are also low - $2 rt.
You can try Forexchief, when I started with them their minimum account size is as low as $10, but you can still check to know if it is still same. Am particularly recommending them not just because I have been with them for sometime now, but they have very good trading platforms with some of the best trading conditions around.
It’s good broker however I decided to switch to Hotforex because after a series of tests I noticed that execution deteriorates during times of high volatility, could be liquidity issue. It’s a big disadvantage for scalping traders, haven’t noticed this with hf
It’s not bad to switch brokers if things are not going the way you wish, this is the reason we have so many in the market. Our aim is to profit not remain loyal to a broker who is not performing well again. I traded with a couple of brokers over the years, two of them to be precise ( not gonna mention name though), I made the switch to Forexchief because they offered more than what I was previously experiencing.
Among many other reasons I saw, the fact that they are particular about client-based growth and development, with constant updating of accounts, and the addition of new trading instruments in demand by traders was impressive.
You can give a try to Hotforex or Tickmill this are lows spread and fast execution brokers, I used scalping software on their platforms and accumulated a good sample of trades from which I could get unbiased estimates of slippage and execution. I was satisfied and even impressed by execution in certain market conditions.
These are great options too to be honest, but for now having tried several brokers in the past I will stick with Forexchief and see how things continue to go, especially how they give this freed with their platform is impressive. How traders can open additional accounts in the personal area, manage funds on trading accounts and keep free funds on transitory accounts in USD or EUR, is just nice for me!
Currently trading with coinexx, minimum deposit is just $10 but would recommend going a little high in order to get better results.
This is so important, you have to be certain you are with a good broker. Reason you have to leave no stone untouched while looking for one. Even while I am currently with forexchief especially for being regulated and having good conditions, I still stay alert for anything that will make me bounce.
This is something we should always do, keeping our eyes open.
If you are a beginner I think low deposit brokers are the best choice as you’ll be able to learn trade on the real market without risking much.
Apart from low deposit also consider the trading conditions and type of withdrawal process they offer.