0.70 Points
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TradingView:
Regulated by: Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI.
HQ in Ireland.
0.3 Points
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TIOmarkets is a forex, stocks, crypto and CFDs broker, providing services in online trading to retail clients in more than 215 countries worldwide. With account types from $0 commissions per lot and raw spreads, the company positions itself as a low-cost broker for any trader wishing to access the global financial markets on the MT4 or MT5 trading platforms.
0.6 Points
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TradingView:
Regulated by: CySEC, FCA, ASIC, DFSA
HQ in Cyprus & Belize.
1 Points
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Regulated by: Financial Conduct Authority, CySEC, ASIC.
HQ in Cyprus, UK.
0.8 Points
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Regulated by: CySEC and ASIC.
HQ in Cyprus, Australia.
1.70.1 Points
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Regulated by: CySEC and FCA
HQ in Cyprus, UK.
1.3 Points
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TradingView:
0.9 Points
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TradingView:
1.5 Points
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TradingView:
NA Points
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TradingView:
0.8 Points
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TradingView:
3 Points
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TradingView:
1.5 Points
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cTrader:
TradingView:
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cTrader:
TradingView:
0.80 Points
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Platform
Spreads from
EURUSD:
0.70 Points
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About Avatrade
Regulated by: Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI.
Established in 2006
HQ in Ireland.
Used by 200,000+ traders.
PLATFORMS
MT4:
MT5:
MT Web Trader:
Mobile App:
FUNDING METHODS
Credit cards:
Bank Transfer:
Paypal:
Spreads from
EURUSD:
0.3 Points
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About Tio Markets
TIOmarkets is a forex, stocks, crypto and CFDs broker, providing services in online trading to retail clients in more than 215 countries worldwide. With account types from $0 commissions per lot and raw spreads, the company positions itself as a low-cost broker for any trader wishing to access the global financial markets on the MT4 or MT5 trading platforms.
Established in 2019
PLATFORMS
MT4:
MT5:
MT Web Trader:
Mobile App:
FUNDING METHODS
Credit cards:
Bank Transfer:
Paypal:
Spreads from
EURUSD:
0.6 Points
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About XM Group
Regulated by: CySEC, FCA, ASIC, DFSA
Established in 2009
HQ in Cyprus & Belize.
Used by 700,000+ traders.
PLATFORMS
MT4:
MT5:
MT Web Trader:
Mobile App:
FUNDING METHODS
Credit cards:
Bank Transfer:
Paypal:
Spreads from
EURUSD:
1 Points
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About eToro
Regulated by: Financial Conduct Authority, CySEC, ASIC.
Established in 2006
HQ in Cyprus, UK.
Used by 6,000,000+ traders.
PLATFORMS
MT4:
MT5:
MT Web Trader:
Mobile App:
FUNDING METHODS
Credit cards:
Bank Transfer:
Paypal:
Spreads from
EURUSD:
0.8 Points
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About Easy Markets
Regulated by: CySEC and ASIC.
Established in 2001
HQ in Cyprus, Australia.
PLATFORMS
MT4:
MT5:
MT Web Trader:
Mobile App:
FUNDING METHODS
Credit cards:
Bank Transfer:
Paypal:
Spreads from
EURUSD:
1.70.1 Points
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About FXTM
Regulated by: CySEC and FCA
Established in 2011
HQ in Cyprus, UK.
PLATFORMS
MT4:
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Mobile App:
FUNDING METHODS
Credit cards:
Bank Transfer:
Paypal:
Spreads from
EURUSD:
1.3 Points
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About Roboforex
Established in 2009
PLATFORMS
MT4:
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Mobile App:
FUNDING METHODS
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Spreads from
EURUSD:
0.9 Points
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About OctaFX
Established in 2011
Used by 300,000+ traders
PLATFORMS
MT4:
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FUNDING METHODS
Credit cards:
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Spreads from
EURUSD:
1.5 Points
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About FXPrimus
Established in 2009
300,000+ active traders
PLATFORMS
MT4:
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Credit cards:
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Spreads from
EURUSD:
NA Points
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About Forex4You
Established in 2007
PLATFORMS
MT4:
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Spreads from
EURUSD:
0.8 Points
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About Alpari
Established in 1998
PLATFORMS
MT4:
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Spreads from
EURUSD:
3 Points
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About UFX
Established in 2007
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MT4:
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Spreads from
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1.5 Points
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About Spread Co
Established in 2005
PLATFORMS
MT4:
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Spreads from
EURUSD:
0 Points
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About Hantec Markets
Established in 1990
PLATFORMS
MT4:
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Mobile App:
FUNDING METHODS
Credit cards:
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Spreads from
EURUSD:
0.80 Points
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About XTB
XTB is a European broker that was founded in 2002, and is one of the largest stock exchange listed brokers in the world with offices in 13 countries including the UK, Poland, Germany, France and Turkey.
PLATFORMS
MT4:
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Compare Forex Micro Accounts
Comparing Forex micro accounts empowers traders to make informed decisions that align with their trading goals, experience level, and risk tolerance. Whether you’re a beginner honing your skills or a trader looking for a cost-effective way to enter the market, careful comparison ensures that you select the best micro account option for your individual journey in Forex trading.
How to open a forex micro account
Opening a Forex micro account is a straightforward process that allows traders to start trading with smaller trade sizes and lower capital requirements. Here’s a step-by-step guide on how to open a Forex micro account:
- Choose a Forex Broker: Begin by researching and selecting a reputable Forex broker that offers micro accounts. Look for brokers with a solid reputation, regulatory compliance, and a user-friendly trading platform.
- Visit the Broker’s Website: Once you’ve chosen a broker, visit their official website to explore their account types and offerings.
- Account Registration: Locate the “Open Account” or “Sign Up” button on the broker’s website and click on it to start the account registration process.
- Select Micro Account Type: During the registration process, you’ll be prompted to choose the type of account you want to open. Select the micro account option.
- Provide Personal Information: Fill out the required personal information, including your name, email address, phone number, and country of residence.
- Verify Your Identity: Depending on the broker’s requirements, you may need to verify your identity by submitting identification documents such as a passport or driver’s license
Generally speaking, micro forex or micro for lots are more popular among new traders as they want to keep their risk under control. As a new forex trader, it is immensely important that you keep risk under control. Losing control of risk is a perfect way to blow out your account. So, when new traders are starting their accounts, they generally start it small lots.
Micro accounts are one of three categories of forex trading accounts, the others being mini and normal accounts. A trader can use a micro account to trade with a contract size of 1000 units of currency. This form of trading account is mainly used by new traders since it allows them to play the forex market without putting a large amount of money at risk.
What is the distinction between a micro and a mini account?
The contract size distinguishes a tiny account from a small account. A micro account has a contract size of 1000 units of currency, whereas a mini account has a contract size of 10,000 units of money. Furthermore, each account comes with its own set of bonuses and trading restrictions. With a bigger account type, for example, you may be given reduced spreads and more leverage.
Advantages and Disadvantages Of Micro Accounts
The primary benefit of a micro account is that it allows a novice trader to restrict his trading losses while gaining exposure to real-world market experiences. As a result, it is an excellent way for a rookie trader to get experience in the markets without putting big sums of money at risk.
The biggest downside of a micro account is that it restricts your earning potential because you will be trading with a tiny amount of money. Furthermore, spreads on a micro account are often larger than those on a conventional account.
FAQ
Most frequent questions and answers
When you trade FX, you wager on the rate of exchange between two currencies. For example, if you bet on EUR/USD going up (buy), you’re betting on the euro’’s value versus the US dollar increasing. As a result, if the EUR/USD rate rises, you will profit; if it falls, you will lose. When you short sell EUR/USD, you’re wagering that the Euro will lose value against the US dollar. Read More
The most popular trading platform is Metatrader 4. Metatrader 5 is also among trader favorites. You can check the difference between the two here
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