Overview
A micro account is a trading account that is tailor-made for retail investors who want improved exposure to foreign exchange trading without risking a significant amount of real money.
A micro account is one of the smallest contract sizes, also known as a micro-lot and it consists of 1,000 units of the base currency. The micro lot is one-hundredth the size of a standard lot or standard account, which is 100,000 currency units.
When beginner traders and retail traders use micro-lot trading accounts, they can use smaller trading sizes. This makes it the perfect retail investor account option for beginner traders to start trading live in trading environments.
The account is also popular among seasoned traders who use it to test their trading strategies in a risk-free forex market environment, using real money, but with less risk involved.
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
Alpari
Features
Established in 1998, Alpari is a well-regulated and multi-asset STP and ECN broker that provides forex traders of all experience levels with a range of tradable financial instruments, flexible retail trading account options, and competitive trading conditions.
Alpari has low minimum deposits which ensure a lowered entry level for all types of traders who want to trade forex spread across different currency pairs, stocks, and several others.
Alpari offers micro accounts that can be used for smaller trade sizes, ensuring that beginners can have a convenient and safe trading experience while trading forex markets. The trading services that traders can expect with Alpari are comprehensive and they cater to the trading objectives of all traders.
Pros and Cons
| PROS | CONS |
| Member of the Financial Commission | Fixed spreads are not provided |
| Trading signals offered through AutoChartist | Lack of educational materials |
| PAMM Accounts are provided | A limited number of tradable instruments offered |
| Offers MetaTrader 4 and MetaTrader 5 | |
| Multilingual customer support provided | |
| Negative balance protection offered on accounts |
FXTM
Features
FXTM is a popular and well-established STP and ECN online broker that has offices in the United Kingdom, South Africa, Cyprus, and Mauritius, with respective regulations in each of these regions.
FXTM is an award-winning broker that provides micro trading accounts, comprehensive standard accounts, and forex trading accounts that cater to professional traders.
The trading platforms that FXTM offers ensure that traders can get the best technology to ensure an immersive trading experience and access across different asset classes including currency pairs, shares, crypto trading, and more.
FXTM has competitive minimum deposits, and it is one of the micro account forex brokers that offers access to a wide range of advanced trading tools, technical indicators, commission-free trading options, competitive spreads, decent maximum leverage levels, demo accounts, and more.
Pros and Cons
| PROS | CONS |
| Well-regulated online forex broker | Inactivity fees are charged |
| Offers a wide range of financial instruments | US clients are not accepted |
| Offers multiple account types to choose from including micro-trading accounts | |
| Low minimum deposit requirements and transparent trading costs | |
| Quick and easy funding options provided | |
| Advanced trading tools offered |
IC Markets
Features
IC Markets is a well-regulated forex broker and one of the largest true ECN online brokers in the world. IC Markets provides traders access to multiple financial instruments that are spread across several different asset classes.
IC Markets is one of the best forex brokers for trading micro-lots because of the ultra-low spreads and low trading costs, providing traders with a wide selection of forex pairs and several other instruments.
In addition, IC Markets also offers a comprehensive economic calendar, technical analysis, and a plethora of trading opportunities that ensure that traders can meet their trading goals despite their trading capital or trading experience.
IC Markets caters to all trading objectives by offering flexible trading solutions in South Africa and several other regions.
Pros and Cons
| PROS | CONS |
| Well-regulated broker | Fixed spreads are not offered |
| Decent selection of financial instruments | US clients are not accepted |
| Institutional-grade liquidity offered | |
| True ECN model | |
| Supports the use of a variety of micro-trading strategies | |
| Inactivity fees are not charged |
XM
Features
XM is a multi-award-winning and globally recognized trading service provider that has more than 2.5 million registered traders from around the world.
XM is known for offering tight spreads, no requotes, fast trade execution, commission-free options, and negative balance protection which is applied to all retail trading accounts.
XM offers over 1,000 financial instruments spread across major currency pairs, minor and exotic pairs, shares, indices, and many others.
XM is one of a few micro account forex brokers that provides forex traders in South Africa with tight minimum spreads, decent swap rates, excellent customer service, quick deposit processes, and a reliable withdrawal process.
XM supports different trading strategies including micro-lot trading, algorithmic trading, social-copy trading, hedging, scalping, and several others. Traders also have access to advanced trading tools, mobile trading apps, and educational materials that will help novice traders on their trading journey.
Pros and Cons
| PROS | CONS |
| Well-regulated by several entities | Fixed spreads are not offered |
| Negative balance protection offered | Inactivity fees are charged |
| Powerful trading platforms offered | US clients are not accepted |
| Personal customer service provided | |
| Tight spreads and commission-free trading options offered | |
| Zero fees charged on deposits or withdrawals |
FXOpen
Features
FXOpen is an ECN and STP broker that is well-regulated by the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC), providing competitive trading conditions and a wide range of tradable assets to traders from around the world.
FXOpen offers traders of all experience levels the chance to trade currency markets using micro accounts with competitive trading conditions. With a low minimum trade size, experienced traders can easily use forex micro accounts to test different trading strategies to reduce potential losses in a real trading environment.
Pros and Cons
| PROS | CONS |
| Low minimum deposit requirement | Limited educational material for beginner traders |
| Tight spreads and low trading commissions | |
| Rapid execution speeds | |
| Proprietary technology offered | |
| Powerful and user-friendly trading platforms offer | |
| Micro-lot trading strategies supported |
OANDA
Features
OANDA is a popular and well-regulated Market Maker broker that has been in operation since 1996. OANDA is regulated and authorized by the Financial Conduct Authority (FCA), and several other reputable entities.
OANDA offers a generous amount of trading instruments that are spread across different financial markets. OANDA offers versatile funding options and features low minimum deposit requirements.
Pros and Cons
| PROS | CONS |
| There is a flexible proprietary trading platform offered | Fixed spread accounts are not offered |
| Offers a choice in different account types | Inactivity fees are charged |
| Supports micro-lot trading | |
| Offers comprehensive trading guides | |
| Customer support is available in multiple languages 24/5 | |
| Advanced trading tools are offered |
OctaFX
Features
Established in 2011, Octa is a well-regulated ECN and STP online broker that offers flexible account types that suit all forex experience levels.
With Octa, traders can trade a multitude of CFD and forex instruments with competitive fees. Octa also offers comprehensive trading solutions, trader tools, and a wide range of educational resources.
Pros and Cons
| PROS | CONS |
| Flexible funding options provided | UK and US clients are not accepted |
| Negative balance protection applied to accounts | |
| Supports several different trading strategies | |
| Proprietary copy trading app provided | |
| Fixed spread accounts offered | |
| Well-regulated by several reputable entities |
FBS
Features
FBS is a Belize-based STP and ECN broker that offers comprehensive CFD and forex trading instruments, competitive trading conditions, and powerful trading platforms through which trades can be executed instantly.
Traders also have access to market analysis, trading tools, technical indicators, convenient funding options, and a range of educational materials for novice and experienced traders alike.
Pros and Cons
| PROS | CONS |
| Demo trading accounts offered | High spreads on micro-lot accounts |
| Dedicated customer support | Inactivity fees are charged |
| Ultra-low minimum deposit requirements | |
| A choice between advanced and powerful trading platforms | |
| Social trading opportunities offered | |
| A choice between different retail trading accounts including micro trading accounts |
HotForex
Features
HotForex is a globally recognized brand that is associated with trust and social responsibility. HotForex is one of the most popular forex trading brokers in the world that has won several industry awards.
HotForex offers a choice between versatile trading accounts that allow traders to trade different position sizes. In addition to competitive trading conditions, traders also receive access to different educational materials and advanced trading tools.
Pros and Cons
| PROS | CONS |
| Client funds are kept in segregated accounts | Restricted leverage on EU accounts |
| Commission-free trading options offered | Fixed spreads are not offered |
| Premium trader tools provided | |
| Member of an investor compensation fund that offers client protection | |
| Traders have access to AutoChartist, free VPS, and several other trading advantages | |
| Negative balance protection applied to all retail trading accounts |
RoboForex
Features
Established in 2009, RoboForex is a well-regulated Market Maker, STP, and ECN broker that is known for its versatile trading solutions and competitive trading conditions.
RoboForex offers more than 9,400 trading instruments that can be traded through powerful and flexible trading platforms spread across web browsers, desktops, and mobile trading apps.
Along with a choice between different retail accounts, traders can expect a range of useful trading tools and in-depth market analysis.
Pros and Cons
| PROS | CONS |
| Negative balance protection is applied | Fixed spreads are not offered |
| Client funds are segregated from the broker’s funds | EU clients have restricted leverage levels |
| Offers over 9,400 tradable instruments | |
| Traders have a choice between different trading platforms | |
| Member of the Financial Commission | |
| Analytics Centre and Verify My Trade provided |
FAQ
What is a micro-lot?
Micro, mini, and standard lot sizes are commonly traded contract sizes that are offered by most forex brokers. Micro, mini, and standard lots are typically available for most major currencies as well as minor forex pairs when traders participate in the forex market.
What is the best leverage ratio for a micro trading account?
This will depend on the trader’s unique trading plan and trading strategy. However, leverage levels of 1:30 are typically considered as the best ratio when trading forex using a micro account.
Who should use micro trading accounts?
Regardless of trading experience, micro accounts and micro currency units are the best approaches to mitigating trading risks inherent with forex trading. Thus, micro trading accounts are suitable for beginner, experienced, and professional traders alike.
What is the biggest advantage of trading on micro accounts?
The fact that potential losses are minimized and the fact that traders can navigate volatile market conditions more safely when they use this account.
What are micro account brokers?
They are financial companies that offer live trading by using micro-lots that are equivalent to 1,000 currency units.
Top 4 Brokers
