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Best Micro Account Forex Brokers 2023
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Best Micro Account Forex Brokers 2023
FXTM, previously known as ForexTime, was founded in 2011 and has grown to become one of the largest forex trading platforms in the world. The broker has a good selection of international currencies to invest in with a collection of over 57 currency pairings. Because of their above-board operations and highly regulated structure, FXTM is highly trusted and respectable. The Financial Services Commission of the Republic of Mauritius, the Financial Conduct Authority of the United Kingdom, the Financial Sector Conduct Authority of South Africa, and the Cyprus Securities and Exchange Commission are all regulatory bodies that oversee FXTM.To get more news about best micro account forex brokers, you can visit wikifx.com official website.
fpmarkets is an ASIC-regulated Australian brokerage which launched in 2005. For most traders, the unique selling point of this broker is in the extremely wide range of tradable assets offered, providing the opportunity to trade over ten thousand individual stocks and shares including publicly quoted Hong Kong and Australian companies. Ffpmarkets also offers 60 Forex pairs and crosses, 11 equity indices, the major commodities, and 5 cryptocurrencies including Bitcoin. fpmarkets offers an unusual hybrid ECN/STP execution model, meaning their clients can choose between ECN style of execution giving a very high level of speed, and a “straight through processing” execution style which allows for more “natural” spreads.
BlackBull Markets was founded in 2014 in New Zealand. Like many antipodean Forex brokers, BlackBull Markets is an ECN broker, offering raw spreads and commissions. They are regulated in New Zealand by the Financial Services Providers Register (FSPR) and offer a maximum leverage on some Forex currency pairs as high as 500 to 1. In addition to their global headquarters in New Zealand, BlackBull Markets also has presences in the form of branch offices in New York and Malaysia. BlackBull Markets offers a relatively tight range of tradable assets: 27 Forex currency pairs and crosses, gold, silver, crude oil, natural gas, and 6 major equity indices. That should be sufficient for those traders with more focused strategies not requiring wide diversification.AvaTrade was founded in 2007 and their headquarters are based in Ireland. This reputable and trusted forex broker is regulated in various counties around the world. Starting with their home country of Ireland, the broker is regulated by the Central Bank of Ireland. Furthermore, they are regulated in Australia by the Australian Securities and Investments Commission, in the British Virgin Islands, AvaTrade is regulated by the highly regarded FSC, in South Africa, the South African Financial Sector Conduct Authority, and in Japan they hold two different licences from two regulators, namely the Financial Futures Association and the Financial Services Agency. They also hold licences in Israel and the UAE.
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.
Methodology
We reviewed over 100 brokers based on eleven criteria. Each research consists of over 2,000 words and lasted more than ten hours. Over 100 brokers were reviewed in-depth and from a trader's perspective, ignoring the marketing tactics deployed by some to confuse retail traders. Therefore, we sourced the list of our best micro account Forex brokers from more than 200,000 words of dedicated research compiled over 1,000 hours, ensuring the most comprehensive approach to identify the best micro account Forex brokers.
AvaTrade is one of the best-regulated brokers, and maintains a market-leading trading academy, SharpTrader, spun out due to its success. When researching “What is a micro trading account?”, AvaTrade does not have one for Forex traders, where the minimum transaction size is 0.01 standard lots or 1,000 currency units. AvaTrade offers equity traders on select CFDs on the MT5 trading platform a trade size of 0.001 standard lots or 100 units, but the minimum deposit is $100.XM is another excellent choice for traders who wish to take advantage of the benefits of a micro Forex account. For a minimum deposit of only $5, clients get access to an excellent asset selection and maximum leverage of 1:888. XM offers its micro alternative in eleven base currencies. There is a 100 lots restriction per order ticket, and each account remains limited to 300 positions, or a total of 30 standard lots, which suffices for all micro lot traders.
FXTM remains one of the best overall Forex brokers and an award-winning educational section. The Cent Account is only available with the MT4 trading platform, which receives an upgrade via six plug-ins. Traders get 25 currency pairs, plus gold and silver, but the minimum spread is 1.5 pips. FXTM grants maximum leverage of 1:1000 for this account type, and the minimum deposit is only $10 or a currency equivalent. FXTM also offers its FXTM Pivot Points Strategy as an EA.