20 Best Mini Accounts Forex Brokers

Simply put, a mini account is a forex account which allows beginner traders to trade in the Forex market with much smaller trading amounts and lot size positions. Trading with a mini account lowers an investors risk and limits possible losses. When a trader makes use of a demo account, no real money is at risk.  This will give traders the opportunity to become accustomed to the trading platform and to implemented trading strategies at certain price levels under live market conditions.  Once a trader  has developed their trading strategies in a forex demo account, it is recommended that they consider using a forex mini account as their next logical step.  This will allow traders to navigate the market under live conditions where real money is at risk, without investing a large sum of money.

Here is an overview of the 20 Best Forex Brokers and Trading Platforms with Mini Accounts on offer.

Forex Time (FXTM)

FXTM or ForexTime was founded in 2011 and  is a registered brand name of Exinity Limited, regulated by the Financial Services Commission of Mauritius with license number C113012295.  FXTM offers users seven different accounts types where the execution method, range of markets, available platform, and commissions and fees may vary.  Three accounts are offered under the Standard category.  Forex Time (FXTM) is a MetaTrader broker which offers forex and CFD traders multiple account options for both MT4 and MT5 platforms.

Pros and Cons

FXTM provides research in the form of daily technical and fundamental news analysis provided by an in-house team of analysts.

Trading Benefits

Customer Service is available phone, email, online chat options – WhatsApp, live chat, Viber, Telegram or Messenger.

Axi

Axiis an online broker which was founded in 2007 and offers Forex, CFDs and Social Trading, is a global broker and has a head office situated in Australia with no minimum deposit needed to get started plus a demo account is on offer.  Axi is authorised and regulated by the Australian Securities & Investments Commission (ASIC).

Pros and Cons

Axi is able to accommodate various levels of traders and offers the MT4 forex trading platform plus mobile apps for Android and iOS, respectively.

Trading Benefits

Customer support is available via Phone, Live Chat and Email.

FXPrimus

FXPrimus is an online broker founded in 2009 offering Forex trading, and Social Tradingand is global broker with a head office in Cyprus.

• Regulated by the Cyprus Securities and Exchange Commission (CySEC), The markets in financial instruments directive (MiFID)
• Used by over 10,000 traders

Pros and Cons

FXPrimus has won numerous industry awards over the 11 years a wide variety of instruments and trading currency pairs.  FXPrimus offers over 125 different instruments to trade, including over 43 currency pairs.

Trading Benefits

Customer Support is available via email, webform, phone and live chat.

IronFX

IronFX is the trade name of Notesco Limited which is based in Bermuda, Regulated By ASIC, CySEC, FCA and offers a multi-asset class Forex and CFD trading experience with 7 different account types to trade on over 200 financial instruments which covers Forex, Metals, Indices, Commodities, Futures and Shares on the MetaTrader 4 trading platform for PC, Mac, Web, Android and iOS.

Pros and Cons

IronFX offers users the ability to trade on the MetaTrader 4 trading platform for PC, Mac and Web and mobile devices.

Trading Benefits

IronFX provides customer support 24/5  via email, live chat, a telephone support line and an FAQ section.

City Index

City Index is a Spread Betting, CFD and Forex trading broker which is regulated by the UK Financial Conduct Authority (FCA).  City Index offers traders the ability to trade on 12,000+ instruments covering Indices, Shares, Forex, Cryptos and Commodities, all on the MetaTrader 4 platform, the broker’s own proprietary, web-based HTML 5 trading platform or the AT Pro desktop download.

Pros and Cons

Trading Benefits

Customer support is available 24/5 via Live Chat, Telephone, Email and an Online Contact Form.

CMTrading

CMTrading is a South Africa-based forex & CFD broker which is regulated by the South African Financial Sector Conduct Authority (FSCA) under the official business name Blackstone Marketing SA (PTY) LTD. Underlying assets available for trading includes a selection of close to 50 forex pairs, a selection of major equity indices, shares of more than 50 US-based companies, as well as commodity and crypto CFDs.

Pros and Cons

All assets can be traded via either the well-known MetaTrader 5 (MT5) platform or the Sirix WebTrader.

Trading Benefits

Customer support is available via email, live chat, phone, and WhatsApp as well as local phone numbers for Canada, Malaysia, the UK, China, France, Mexico, Brazil, Saudi Arabia, Bahrain, and Russia.

FXPro

FXPro is an online broker which was founded in 2006 and offers Forex, Share Dealing, Spot Indices, Futures, Spot Metals and Spot Energies trading.  FXPro is a global broker with a head office located in the UK. FXPro is regulated by CySEC and operates under the CIF license number 078/07. As a CySEC regulated broker, FXPro is also a member of the Investor Compensation Fund scheme.  FXPro provides traders with access to top-tier liquidity and advanced trade execution with no dealing desk intervention and a starting account will need a minimum deposit of $100.

Pros and Cons 

With FXPro, the minimum and maximum trade requirements vary depending on the trader and the instrument chosen.

Trading Benefits

FXPro offers customer support 24 hours a day, 5 days a week via Live Chat, Telephone and Email in a variety of different languages including English, Spanish, French, Polish, Malay, Arabic, Chinese, Greek, Hungarian, Japanese, Korean, Russian, Thai, Vietnamese, Indonesian and others.

EasyMarkets

EasyMarkets is one of the most popular choices for Beginners and is regulated by CSEC (Cyprus) and ASIC (Australia) and offers beginner forex traders:

• Enhanced risk management tools as standard
• Fixed spreads on all forex pairings
• An easy-to-use forex trading platform

Pros and Cons

The available trading platforms offered are MT4 and the EasyMarkets web platform.

Trading Benefits

Customer Support is available 24/5 via  various chat channels, email, phone and web forms.

OctaFX

OctaFX is an online broker which was founded in 2011, offering Forex trading.  As OctaFX is regulated by the Financial Conduct Authority (FCA), each new client must pass a few basic compliance checks when signing up for an account.  OctaFX has won numerous industry awards over the course of 9 years and is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5.

Pros and Cons

OctaFX provides an array of educational tools to assist beginner traders to become more experienced and even professionals in trading.

Trading Benefits

Customer Support is available 24/5 via Live Chat, Email, Phone, WhatsApp and an Enquiry Form across multiple languages including English, Indonesian, Hindi, Chinese and more.

Roboforex

Roboforex are an online, global broker which was founded in 2009 and offers traders Forex and CFDs trading.  RoboForex is authorized and regulated by the International Financial Services Commission (IFSC) with license number IFSC/60/271/TS.

Pros and Cons

When starting off with Roboforex traders will need to make a minimum deposit of $1 and there is an option available for a demo account for those who would like to get acquainted with the platform.  Roboforex can accommodate various levels of traders, from experienced to beginner, and they can trade a wide variety of instruments and currency pairs.  Roboforex offers over 100 instruments and over 35 currency pairs in total.   Roboforex offers traders both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform developed for traders.   Roboforex also offer mobile apps for Android and iOS.

Trading Benefits

Customer support is available via phone, Webchat, Wechat, Skype, Viber, Telegram, Facebook chat, WhatsApp, email and a call-back request.

Admiral Markets

Admiral Markets is an online broker which was founded in 2001 and offers Forex and CFDs trading, is globally recognized and has a head office based in the UK.  Traders will need a minimum deposit of $200 to start and can sign up for a demo account to in over 148 instruments and over 40 currency pairs.   Admiral Markets is authorised and regulated by the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) and the Estonian Financial Supervision Authority (EFSA).

Pros and Cons

Admiral Markets offers both of the MetaTrader platforms; MT4 and MT5 and mobile apps for Android and iOS.

Trading Benefits

Admiral Markets offers multilingual customer support via Telephone, Live Chat and Email.

Exness

Exness is authorised by the Financial Services Authority (FSA) of Seychelles and was founded in 2008. Traders have the ability to trade on Forex and CFDs on Crypto, Metals, Energies, Stocks and Indices on the MetaTrader 4 and MetaTrader 5 trading platforms for Windows, Mac, Linux, Android and iOS and the Exness Web Terminal.

Pros and Cons

Exness offers traders 5 different trading accounts to choose from and over 105 different instruments to trade, including over 103 currency pairs.

Trading Benefits

Exness supports a wide range of languages including English, Russian, Chinese, Urdu, Malay, Indonesian, Hindi, Arabic, Bengali, Farsi, Tamil, Vietnamese, Thai, Korean, and Spanish via Live Chat and Email.

AvaTrade

AvaTrade is an online broker which was founded in 2006 and offers Forex, CFDs, Spread Betting and Social Trading and is a global broker with their head office situated in The British Virgin Islands. AvaTrade is regulated in Europe, the British Virgin Islands, Australia, Japan, and South Africa by ASIC, CySEC and FCA.

Pros and Cons

For those who are looking to start out with AvaTrade will need a minimum deposit of $250 and a demo account is available for those who want to get acquaint with the popular MT4 forex trading platform.  AvaTrade also offer mobile apps for Android and iOS.

Trading Benefits

Customer support is available by email, phone, or live chat.

HotForex

HotForex was established in 2007 is well regulated by FCA, CySEC, DFSA, FSCA and SFSA.

Pros and Cons

The HotForex MT5 terminal offers 21 different timeframes, superior analysis tools, trading across HotForex asset classes, close to 100 simultaneous charts, hedging and one-click trading and 80+ technical indicators plus an in-built economic calendar.  The account can be accessed from anywhere using an iPhone, interactive charts for 9 timeframes, advanced trading functions, one-click trading, 24 analytical objects, and 30 technical indicators.

Trading Benefits

Customer support is available via phone and email.

Forex.com 

Forex.com is a platform which can be used for trading foreign currencies and precious metals. Traders can trade over 80 currency pairs as well as silver and gold.

Pros and Cons

To open a live trading account, traders will need a minimum deposit of at least $50.

Trading Benefits

Customer support is available by phone, live chat, or email 24 hours a day during market hours.

Tickmill

Tickmill is a Forex and CFD broker with licences from the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA).

Pros and Cons

Tickmill offers trading on 80+ markets covering Forex, Indices, Commodities and Bonds on the MetaTrader 4 trading platform for Windows, Mac, Web, Android and iOS.

Trading Benefits

Multilingual client service is available via Telephone, Email, Online Contact Form and Live Chat.

Saxo Bank

Saxo is a globally regulated, multi-asset class broker which offers traders the option to trade on more than 40,000 instruments covering Forex, CFDs, Stocks, Options, ETFs, Commodities, Futures, Bonds and Mutual Funds from a single account across multiple platforms including their own – SaxoTraderGO and professional-grade SaxoTraderPRO.

Pros and Cons

The Saxo Group is regulated in 15 jurisdictions including authorisation from the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Financial Services Agency of Japan (FSA) and many more.

Trading Benefits

Customer support is available in nearly 30 different languages via phone, email and an FAQ section.

IG

IG Group was founded in 1974 and is regulated by the Financial Conduct Authority (FCA) in the U.K. and the Australian Securities and Investment Commission (ASIC) in Australia.

Pros and Cons

The country of a traders residency will determine which account type they can open. In most countries, they will only be able to trade forex, CFDs and options.  Traders can choose between two trading platforms, IG’s proprietary trading platform or MetaTrader 4.

Trading Benefits

Customer Service is available 24/7 via Phone, Live Chat and Email.

HYCM

HYCM is an online broker which was founded in 1977 and offers Forex and CFDs trading on the popular MT4 forex trading platform plus mobile apps for Android and iOS.

Pros and Cons

Traders starting off with HYCM will need to make a minimum deposit of at least $100 and have the choice to sign up for a demo account perfect for various levels of traders, experienced or novice.

A wide variety of instruments and currency pairs are available for trade:

• Over 100 instruments
• Over 40 currency pairs

Trading Benefits

HYCM customer service is available through WhatsApp, Skype, Viber, Telegram Instant messaging services, Facebook Chat and Phone – 24/5.

FXCM

Forex Capital Markets Limited or FXCM is a Spread Betting, CFD and Forex trading broker, authorised and regulated by the UK Financial Conduct Authority under the Forex Capital Markets Limited and is part of the Leucadia Company, which offers users the ability to trade on Forex, Forex Baskets, Indices, Commodities and Crypto on its own proprietary Trading Station platform for Desktop, Web and Mobile, as well as on MetaTrader 4, NinaTrader and ZuluTrade.

Pros and Cons

FXCM offers traders 4 main types of trading accounts to choose from, including  Spread Betting, CFD Trading, Active Trader and Professional Clients. A Free Demo account is also made available.

Trading Benefits

Customer Support is available via Live Chat, Phone, Email and SMS.

In Conclusion

A mini account is seen as the most appropriate account choice for beginner traders who are looking to make the transition from a risk-free demo account to live account trading with as little risk as possible.