The question here is – Can Forex be traded with $50? To activate a live trading account and begin trading, users will need to first transfer an required amount of capital to their chosen Broker. The minimum deposit requirements will differ between Brokers, but there is no set minimum deposit for Forex trading. Traders will need to have enough capital in order to open up a position. So, the answer is Yes, Forex can be traded with $50.
Here is an overview of the 9 Best Forex Brokers and Trading Platforms who require a Minimum Deposit of $50:
OctaFX
OctaFX is a Forex ECN broker registered in St. Vincent and the Grenadines, regulated by CySEC. OctaFX offers three main types of trading accounts called MetaTrader4 Micro, MetaTrader5 Pro and cTrader ECN paired with globally recognised trading platforms such as MetaTrader4, MetaTrader5 and cTrader.
Assets available for trade – dependent on the chosen account option.
MetaTrader4 Micro:
- 28 Currency Pairs
- 4 Stock Indices
- 3 Cryptocurrencies
- 2 Metals
MetaTrader5 Pro:
- 28 Currency Pairs
- 10 Stock Indices
- 3 Cryptocurrencies
- 2 Metals
- 2 Energy
cTrader ECN:
- 28 Currency Pairs
- 2 Metals
Customer Support is available 24/5 via email, live chat and phone.
Markets.com
Markets.com is an online forex and CFD broker regulated by the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).
Account types on offer include: CFD accounts under the Marketsx brand
Trading Platforms on offer include:
- Marketsx
- Marketsi
- MT4
- MT5
Assets available for trade include:
- 67 currency pairs
- Six cryptocurrencies
- 26 commodities
- 2,007 equity CFDs
- 42 index CFDs
- 59 ETFs
- 21 Blends
Customer support is available 24/5 via phone support or live chat.
LMFX
LMFX is a stock and forex broker which offers low fees and high leverage.
Accounts on offer include:
Premium Account
- Personal account manager
- Minimum deposit $50
- Spreads from 1 pip
- 1:1000 leverage
- Flexible bonuses
- No commission
Fixed Account
- Personal account manager
- Minimum deposit $250
- Flexible bonuses
- No commission
- 1:400 leverage
- Fixed spreads
Zero Account
- Personal account manager
- Minimum deposit $100
- $4 commission per lot
- Flexible bonuses
- 1:250 leverage
- Raw spreads
All coupled with the ever-popular MetaTrader4 trading platform.
Assets available for trade include:
- 48 forex pairs
- 7 major pairs
- 21 minors
- 20 exotics
- 5 CFDs on commodities
- 3 energy CFDs
- 4 precious metal pairs
- 9 global stock indices
- 36 stock CFDs
- 15 NYSE shares
- 11 NASDAQ stocks
- 10 assets from the London Stock Exchange.
Customer Support is made available via phone and email respectively.
FxNet
FxNet is an online forex broker regulated by the IFSC.
Account types on offer include:
Standard Account
- Spreads from 2.3 pips
- Minimum deposit $50
- Leverage up to 1:500
- All instruments
- Limited support
- No commission
VIP Account
- Spreads from 1.9 pips
- Minimum deposit $10,000
- Leverage up to 1:500
- All instruments
- Full support
- No commission
Platinum Account
- Spreads from 0 pips
- Minimum deposit $25,000
- Leverage up to 1:500
- All instruments
- Excellent support
- 2 pips commission
Coupled with the Industry leading MetaTrader4 trading platform.
Customer Support is available 24/5 via email and phone.
TFI Markets
TFI Markets Ltd is a CySEC regulated financial institution which provides multi-platform currency trading.
Accounts on offer include:
- Standard
- Mini
- Demo
Trading Platforms on offer are:
- Proprietary Platform
- MetaTrader4
Assets available for trade:
- CFDs
- Commodities
- Metals
- Oil
- Gold
- Binary Options
Customer Support is made available 24/5 via email.
MultiBank Group
MultiBank Group (MultiBank) is a Forex and CFD broker regulated in many jurisdictions including Germany, the British Virgin Islands and the Cayman Islands.
3 different account types are on offer:
- ECN Pro account
- MultiBank Pro account
- Maximus account
Trading platforms on offer include:
- MetaTrader4
- Proprietary Trading Platform
Assets available for trade:
- CFDs
- Commodities
- Metals
- Stocks
- Oil
- Gold
- Indices
Customer Support is available via phone.
Boston Merchant Financial
Boston Merchant Financial is a forex trading services broker regulated by ASIC (AFSL #379035), and FMA in New Zealand (FSP 328066).
Accounts on offer include:
- Demo account
- Micro account
- Standard account
- Managed account
- Islamic account
Trading Features:
- Allows scalping
- Allows hedging
- Offers STP
- Low min deposit
- Guaranteed stop loss
Trading Platforms on offer include:
- Unitrader
- MetaTrader4
Assets available for trade include:
- Major Forex Pairs
- Metals
- Energies
- Agriculture
- UK Shares
- US Shares
- German Shares
- Japanese Shares
Customer Support is available via email, live chat and phone.
Forex.com
Forex.com is a global FX and CFD broker regulated by several financial authorities, including the top-tier Financial Conduct Authority (FCA) in the UK and the US Commodity Futures Trading Commission (CFTC).
Traders may choose between the Standard account, the Commission account, and the STP Pro Account coupled with two web trading platforms, Web Trader and MetaTrader4.
Pros:
- Wide range of product offerings
- TradingView charts built into web platform
- Regulated by FCA (U.K.) & CFTC, NFA (U.S.)
Cons:
- No account protection for U.S. clients
- No guaranteed stop losses for U.S. clients
- Live chat advertised but unavailable
- Subpar website maintenance
Assets available for trade include:
- 80+ currency pairs
- 220+ equities
- Commodities
- Indices
- Bonds
- ETFs
- Sectors
- Cryptocurrencies
- Gold & Silver
- Futures & Futures Options – U.S. (Futures Online)
Customer Support is available online chat and live phone support.
LiteForex
LiteForex is an established CFD and forex broker registered in the Marshall Islands (registration number 63888) and regulated in accordance with Marshall Islands Business Corporation Act.
Accounts on offer include:
- ECN Account
Recommended for professional traders and investors. The ECN account offers an interest rate of 2.5% on surplus funds, plus an unlimited duration of transactions and trades are delivered directly to liquidity providers. Traders should take note – only the MT4 platform is available to ECN account holders.
- Classic Account
The Classic account is available to experienced traders and No interest is paid on surplus funds. With the Classic account no commissions are charged. Both the MT4 and MT5 trading platforms are available.
Trading Platforms on offer include:
- MetaTrader4
- MetaTrader5
Assets available for trade include:
- Currency
- Commodities
- Global Stock Indexes
- Cryptocurrency
Customer Support is made available via email and phone.
What should a trader consider when choosing a Low Minimum Deposit Forex Broker?
There are several factors which a trader should consider when looking for any Broker type, some will obviously be more important than others. Here are the top factors to consider, especially for beginner traders, when looking for a Low Minimum Deposit Forex Broker.
Regulatory Compliance
A Brokers’ regulation is always important and however it may be more crucial when trading with large account size, choosing a broker with no regulation is not a wise decision no matter how small the deposit may be.
So, Why is it so important for an online broker to be financially regulated by one or more reputable regulatory bodies?
It all boils down to the safety of a traders capital, the money they invest and the promise of the broker to use these funds solely for the right purpose. When a Forex broker is not regulated there is no regulatory organization monitoring them. What this means is that the brokerage firm does not abide by any set rules or regulations and in essence, they can take a traders money and disappear. For this reason, traders will easily find lists of unregulated online brokers described as scams or frauds.
The trading platform or platforms on offer is a traders gateway to the financial market. Traders should make sure the platform and any software connected thereto, is easy to use, visually pleasing, has a variety of technical and/or fundamental analysis tools available.
Here is an overview of the Best Trading Platforms most commonly on offer:
MetaTrader4
MetaTrader4, also known as MT 4, is one of the most popular and widely used trading Platforms available on the market to date. MetaTrader4 is a multilingual trading platform where users can benefit from trading signals and expert advisors plus, traders can make the most out of advanced technical analysis, algorithmic trading, flexible trading systems and much more. MetaTrader4 is also available for iOS and Android capable devices.
MetaTrader5
MetaTrader5 stands out as a multifunctional and easy-to-use brokerage platform, suitable to both professional forex traders and beginner investors. MetaTrader5 offers complete solutions including the full use of various tools and trading possibilities, including automated trading systems, copy trading, and technical analysis tools, to name but a few. MetaTrader5 is also for iOS and Android capable devices.
cTrader
cTrader is a multi-asset trading platform which allows users to trade Forex as well as other CFDs with high-speed execution. cTrader only functions as an ECN (Electronic Communication Network) platform and will only connect traders directly to the global Forex market. What this means is that cTrader will not permit any dealing desk intervention, automated or otherwise. cTrader offers a fully customisable layout and traders can pick a chart-only layout or the default option which includes analysis and trading news.
The charts on offer are also customisable and allows traders to display different charts side-by-side, or toggle between them. For users who tend to trade with a certain set of currencies, the platform allows them to create a “favourites” window with easy access to their most-traded currency pairs.
Marketsx
Marketsx is a trading platform by Markets.com which offers traders fast, low-cost trading on over 2,200 financial instruments. Marketsx provides CFD trading on stock, Forex, commodity, indices, cryptocurrency, ETF and bond markets plus in-depth charting and asset comparison tools.
Zulu-Trade
Zulu-Trade is a trading platform which allows traders to earn by both investing in other traders and in through independent trading. The terminal has an accessible interface and the official site provides a detailed guide. The official site also offers instructions for attaching a trading account to the platform. Zulu-Trade is an independent organization which cooperates with multiple reliable brokers. A Zulu-Trade demo mode, which displays the true capabilities of the platform, is also made available.
You may also be interested in – 25 Best Forex Trading Software and Platforms
Ease of Deposits and Withdrawals:
Each forex broker will have specific account withdrawal and funding policies on offer.
Things to consider include:
- Do they accept deposit by credit/debit card?
- Can traders deposit in their preferred currency?
- If there is a currency exchange, what is the exchange rate?
- How long do deposits take to appear in a traders account?
- How long does it take for a withdrawal to appear in a traders account?
- Can a trader make a withdrawal via the same method in which they made the deposit?
Methods of funding an account may include:
- Credit card
- ACH payment
- PayPal
According to research, PayPal is one of the most contemporary and popular online payment
systems widely offered by brokerages and dealing centres for depositing into their trading accounts. The payment system is used by currency traders from over two hundred countries globally and is easy to use and secure. Any transaction committed with PayPal follows all the contemporary security requirements and connects traders with their bank card or bank account. PayPal is one of the most convenient and low-cost methods to deposit and withdraw funds.
- Wire transfer
- Bank check
- Business or personal check
Withdrawals can typically be made by check or by wire transfer.
You may also be interested in – 22 Best Forex Brokers that accept PayPal
Customer Service
A broker’s customer support should be available to their users at any time.
Traders should consider the following:
- Do they offer customer support by phone/email/live chat?
- What hours are they available?
- How quickly do they respond to queries?
Traders should take a look at the brokers site and see the range of customer service features it has on offer. If a Forex Broker is available to their clients 24/7, it shows their commitment. Common contact methods include email, phone and live chat.
In Conclusion
Traders should take their time when looking for a forex broker, as the wrong choice might be a costly one. Top brokers will offer traders robust resources, low trading costs and access to the financial markets.
Top 4 Brokers
