Reliable broker with low initial deposit?

exister78 · June 23, 2014, 9:54am

Hi,
Looking for a reliable broker (ECN) with a low initial deposit.

For scalping style trading.

Hotforex seem the lowest I’ve found $50…are they any good?

Thanks!

bradleyfx · June 23, 2014, 10:59am

Try FXCM, Armada Markets or Alpari. All have ECN and low initial deposits around 100 USD. Compare also the spreads and commissionsas makes no sense to feed the broker who has large commissions and wide spreads.

dollace · June 24, 2014, 3:25am

Sound you’re from EU as hotforex minimum deposit is $50 for Eu citizens while in Asia, it’s from $5.

exister78 · June 24, 2014, 10:34am

Hi, yes I am in the EU…Just testing armada demo at the moment, it’s great, but you need 300 for their better account…I think I’ll save for that one though!

alfazfx · June 25, 2014, 11:44am

you should try cent account first as that would be good for trading.

FOREXunlimited · June 25, 2014, 11:48am

Check this out.

Important to understand the concepts presented in the article.

Exness_Support · June 29, 2014, 6:12pm

Well good to know hotforex offering ECN with only $50,
You can try exness too starting ECN account at $300. I am using it execution is very fast

jingoy · July 3, 2014, 4:44am

hotforex is a good broker, been trading with them for a while now, though im not much of a scalper but executions is good, I’d avoid news trading it can be a bit messy.

sistemfx · July 4, 2014, 10:33am

The order execution of liteforex broker also very fast and quick. Lite have been improving the the ECn technology…
All scalper like it so much…

dollace · July 7, 2014, 4:12am

so you want a lower initial deposit broker? as 25 or 5$?

exister78 · July 8, 2014, 6:18am

Hi, no sorry, was hoping to find an ecn broker for $100 but looks like most decent ones start at $200/$300.
That’s ok though…am testing a few demos at the moment.

Don_xyZ · July 15, 2014, 10:24pm

Lots of good broker are offering $1 initial minimum.
Even those who are offering ECN also have low minimum.

I tried Alpari Ru, Exness, Octafx, Instaforex, Mayzus and they are all good for ECN or standard account. Just check out directly to their sites.

Currently though I only maintain account in Exness, Octafx and Instaforex each for different trading style.

buterfly · July 21, 2014, 1:58am

i trade in liteforex . they have lite account. we can deposit 1$. but i think we can not earn money with 1$.

Don_xyZ · July 21, 2014, 9:02am

Yeah, I agree with you… it’s darn crazy to trade with just $1.

Moreover, stats revealed that those who trade with smaller balance tend to blow up their account for several different reasons such as impatient, not really taking it serious (because the balance is small), not enough buffer to handle trade(s) etc.

However, if a trader is that good then he can take advantage of the welcome bonus (or other kinds of bonus) given by the broker. Once he make like 100% from the bonus then he can just withdraw his initial deposit and trade with the bonus + the profit made from it.

FOREXunlimited · July 21, 2014, 9:03am

Trading with under $5k (at a bare minimum) is definitely going to be challenging.

Read this

Don_xyZ · July 21, 2014, 9:18am

Yes, if you’re in the U.S.

The situation is just difficult there. Don’t you think it’s better to trade ES than FX? With a leverage of only 1:50 it’s just make sense to trade ES with $500 margin IMHO.

Outside the U.S. though… super traders exist.
Depending on the balance (thus, the max leverage applicable to that account) on the trader’s account you’ll see a trader make anything between 50% to 100% a month. Of course, the percentage goes down as the account grow. That’s the case with super traders

One such trader was here in this forum back in 2009 (dunno if he’s still here… didn’t check) growing 300 euro to 20k euro in a lil’ less than 3 months. Damn it’s getting off-topic now …

seyola9 · July 23, 2014, 5:23am