The minimum deposit amount required by brokers varies greatly, but many brokers offer accounts with very low or even no minimum deposit requirements, particularly for forex trading. Some brokers allow you to start with as little as $1, while others might require $10, $100, or even $1,000 or more, especially for certain account types or mutual funds.
Factors influencing Minimum Deposit
Broker Type
Different brokers and account types have varying minimum deposit requirements. Forex brokers, especially those offering micro accounts, often have very low minimums.
Account Type
Some brokers offer different account tiers with varying minimum deposits. For example, a standard account might have a higher minimum than a micro or cent account.
Asset Class
Some asset classes, like mutual funds, might have higher minimum investment requirements compared to forex or other instruments. Broker’s Business Model:Brokers that focus on accessibility and attracting a large number of traders might have lower minimum deposit requirements.
Examples
$1: Some forex brokers offer cent accounts with a $1 minimum deposit. $10: Many forex brokers have minimum deposit requirements around $10. $100: Some brokers may have a minimum deposit of $100. $1,000: Some mutual funds or certain broker accounts may require $1,000 or more.
Tips for choosing a Broker
Capital
Determine how much you’re comfortable investing to start. Research brokers: Compare minimum deposit requirements across different brokers.
Look beyond the minimum
Consider other factors like spreads, execution speed, and available trading tools.
Explore demo accounts
Many brokers offer demo accounts that allow you to practice trading with virtual money before depositing real capital.
Brokers and Deposits
- DERIV
Start trading with as little as $5 with Deriv
2. WELTRADE
With as little as $5 you can join Weltrade