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3 Best Forex Brokers with Micro Account for 2024

Searching for the top broker with a micro account offering? Based on our hands-on analysis, we’ve identified 3 best options tailored to various trading needs. Practical tips from our experts are included.

Jitan Solanki
Reviewed By:
Aviva Gurevich
Updated: Mar 27, 2024

List of Top Forex Brokers with Micro Accounts

25 online course videos. 33 platform video tutorials. ECN pricing micro-lot accounts. Trade from MT4, MT5 and cTrader platforms.

Multiple accounts for micro lot trading. Low spreads and commissions. Bonuses and promotional offers. Low minimum deposit of 10 USD.

Micro lot and nano lot accounts available. Trade from MT4, MT5 and XM App. Extra custom-made MetaTrader indicators. Live trading forex webinars in 9 languages.

Why Choose Forex Micro Accounts?

If you have a limited amount of trading funds, a micro account could be the perfect option for you. Micro accounts allow traders to transact in micro lots. A lot represents the standardized size of currency units in a standard contract. Traditionally, brokers offered the ability to trade using only standard lots, equivalent to 100,000 units of currency. This required a sizeable trading account.

To appeal to a wider base, many brokers now offer the ability to trade in micro lots, which are one-hundredth the size of a standard lot. This means transactions can be made in 1,000 units of currency, making them a perfect fit for account holders trading with smaller funds.

How did FXEmpire select the Best Micro Lot Size Forex Brokers?

FXEmpire's Methodology

  • We only selected brokers with high overall scores from our proprietary rating system.
  • We verified the regulatory licenses for each jurisdiction in which the broker operates.
  • We ensured that each broker offers the ability to trade in micro lots.
  • We examined the number of tradable instruments to ensure a wide range of markets is available for trading with micro lots.
  • We tested the broker’s spreads by opening live trading accounts and comparing them to the industry average, ensuring they are competitive and transparent.
  • We checked for a range of feature-rich trading platforms that are easy to access and use.
  • We assessed the broker’s research and education offering for support in how to trade the market using micro lots.

Using FX Empire’s comprehensive methodology, our team of experts has identified the best forex brokers offering micro accounts for this year. Here’s how we test.

Now let’s explore the selected brokers.

Best Overall

Contracts for Difference (CFDs) are leveraged over-the-counter derivative products and carry a high level of risk to your capital. You should only risk capital that you can afford to lose. In certain circumstances, due to fluctuations in market value you may not get back your initial investment amount. You may not only lose your initial investment but you may incur a liability to pay a further amount to cover losses. This means you can lose more money than you have invested.
  • Min Deposit
  • Tradable Instruments
  • Fees

Founded in 2005, FP Markets is an Australian broker providing an excellent range of detailed, insightful, and helpful educational materials, including webinars, articles, videos, eBooks, and courses. With raw ECN pricing micro lot trading accounts, multiple trading platforms, and a broad selection of forex pairs, FP Markets stands out as a top broker to consider.

Key Micro Lot Account Features:

  • Regulators: CySEC, ASIC, FSCA, Unregulated SVG entity
  • Max Leverage: 1:500 (depending on region)
  • Accounts: Standard, Raw
  • Minimum Deposit: 100 AUD
  • Tradable Instruments: 70+ Forex Pairs and Metals, Indices, Commodities
  • Fees (Standard Account): EUR/USD Avg. Spread 1.1 pips, Zero Commission
  • Platforms: MT4, MT5, cTrader

FP Markets offers an impressive range of trading courses for beginner and intermediate traders. There are 25 online video courses covering topics such as ‘What is Technical Analysis?’, ‘What is Fundamental Analysis?’, ‘The Stochastic Oscillator Introduction’, and many more. Some courses are short videos, while others are longer, up to 40 minutes in duration. I found the 33 platform video tutorials to be an excellent resource for beginner traders.

The broker offers over 70 forex pairs for trading in micro-lots (0.01), a better range than most brokers. Quotes are based on its ECN pricing model, received directly from the interbank market with no broker intervention, ensuring fast and precise trade execution. In our live fee test of the Standard Account, the spread for EUR/USD averaged 1.1 pips, close to the industry average of 1.0 pips.

  • Extensive educational materials.
  • Regular live trading webinars.
  • ECN pricing micro-lot accounts.
  • Commission-free trading.
  • cTrader platform not available in all regions.

Best Low Spreads

Forex trading involves risks.
  • Min Deposit
  • Tradable Instruments
  • Fees

Founded in 2009 and based in Belize, RoboForex is the Official Sponsor of Club Cienciano. The broker offers five different trading accounts, multiple trading platforms, and its own copy trading solution, CopyFX.

Key Micro Lot Account Features:

  • Regulators: FSC Belize
  • Max Leverage: 1:2000
  • Accounts: Prime, ECN, Pro
  • Minimum Deposit: 10 USD
  • Tradable Instruments: 36+ Forex Pairs and Metals, Cryptocurrencies
  • Fees (Prime Account): EUR/USD Avg. Spread 0.1 pips, Commission 1 USD per lot
  • Platforms: MT4, MT5, RTrader

RoboForex offers five trading accounts: Prime, ECN, R Stocks Trader, ProCent, and Pro. The Prime, ECN, and Pro accounts allow trading in micro-lots (0.01), feature a low minimum deposit of 10 USD, and offer a good range of 36 forex pairs. Additionally, these accounts offer cashback rebates of up to 10% of the commission, which can be beneficial for active traders.

In our live fee test of the Prime Account, the average spread for EUR/USD was 0.1 pips, with a commission of $1 per lot. This significantly beats the industry average commission of $3.50. The broker also offers 24/7 customer support, which I find extremely helpful in case any trading or account issues need handling.

  • Low spreads and commissions.
  • Multiple trading platforms.
  • Cashback rebates.
  • 24/7 customer support.
  • Limited education materials.

Best MT4

Your capital is at risk.
  • Min Deposit
  • Tradable Instruments
  • Fees

XM provides the option to trade on the industry-standard MT4 and MT5 trading platforms. It also offers a VIP Education Package for these platforms, which includes proprietary indicators such as the Ribbon Indicator, River Indicator, and others.

Key Micro Lot Account Features:

  • Regulators: CySEC, ASIC, DFSA, FSC Belize
  • Max Leverage: 1:1000 (depending on region)
  • Accounts: Ultra Low Standard, Zero
  • Minimum Deposit: 5 USD
  • Tradable Instruments: 55+ Forex Pairs and Metals, Indices, Commodities, Cryptocurrencies
  • Fees (Standard Account): EUR/USD Avg. Spread 1.7 pips, Zero Commission
  • Platforms: MT4, MT5, XM App

The XM MT4 platform offers over 100 built-in technical analysis indicators and drawing tools, nine timeframes, three chart types, and multiple orders (market, limit, and stop). The MT4 platform has long been considered the gold standard for forex trading. I particularly enjoy using the MetaTrader Marketplace from the platform, which provides an extensive database of customized indicators and automated trading strategies.

The XM Ultra Low Standard and Zero accounts offer a minimum trade volume of 0.01 on a standard lot contract of 100,000 units, effectively allowing micro lot trading on these accounts. However, it can be confusing that the XM Ultra Low Micro Account offers a minimum trade volume of 0.1 lots, but on a contract size of 1,000 units. This arrangement enables trading at even lower volumes than a micro lot, at 100 units of currency, known as a nano lot, which is beneficial for very small accounts.

In our live fee test of the Standard Account, the spread for EUR/USD averaged 1.7 pips. This is higher than the industry average of 1.0 pips for a zero-commission trading account.

MT4, MT5, MT MultiTerminal
Micro lot and nano lot accounts
Extra MetaTrader indicators
Detailed XM Research

Not the most competitive spreads

  • MT4, MT5, MT MultiTerminal.
  • Micro lot and nano lot accounts.
  • Extra MetaTrader indicators.
  • Detailed XM Research.
  • Not the most competitive spreads.

How to Choose the Best Broker for Micro Lot Trading?

Here is a quick guide on choosing a forex broker with micro accounts.

1. Is the broker well-regulated?

Nowadays, brokers can be categorized as either regulated or unregulated. I recommend steering clear of unregulated brokers, as there is no legal recourse to reclaim your capital if they act fraudulently and steal it.

A regulated broker is legally required to adhere to strict standards in handling your capital. However, it’s important to note that not all regulators provide the same level of protection. In our broker reviews, we classify regulatory bodies into three tiers:

  • Tier-1 Regulators: These are well-established financial authorities operating in recognized financial jurisdictions. Examples include the FCA, CySEC, ASIC, IIROC, and others.
  • Tier-2 Regulators: Although less widely recognized, these regulators operate in reputable financial regions. Examples include the DFSA, FMA, FSCA, and others.
  • Tier-3 Regulators: Typically situated in offshore locations, these regulators include entities like the VFSC, BVI FSC, SCB, and others.

Brokers licensed and authorized by a Tier-1 regulator provide the highest level of investor protection. For example, brokers regulated by the UK FCA, IIROC, CySEC, and ASIC must legally segregate client funds from their own, ensuring that client deposits aren’t utilized for the broker’s operational needs.

Check out our dedicated guides on best CySEC-regulated brokers and best FCA-regulated brokers.

Furthermore, these regulators enforce a negative balance protection policy, preventing a retail client’s account from dipping into negative territory during adverse market movements. It’s important to note that professional traders may waive this protection.

The FCA, IIROC, and CySEC take another step by mandating brokers to participate in compensation schemes. These schemes can safeguard client deposits up to a specified amount in case the broker goes bankrupt.

To verify your broker’s regulatory status, review the legal terms and conditions and consult the regulator’s online register in the country they operate. Read more about best regulated forex brokers in our comprehensive guide.

2. Are the fees transparent and competitive?

There are a variety of fees to take into consideration when using a micro lot trading account.

  • Spread: The difference between a financial instrument’s buy and sell prices. See our guides on the best zero spread and best lowest spread forex brokers.
  • Commission: The fee associated with executing a buy or sell transaction.
  • Overnight or Swap Fee: The cost incurred for holding a leveraged or margined position overnight. Find the list of the lowest swap brokers in our detailed guide.
  • Payments: Fees related to depositing or withdrawing funds.
  • Inactivity: A charge applied in the absence of trading activity within a specified period.

When trading on micro lot accounts, be aware that some brokers may significantly mark up the spread they receive from the interbank market. This is because micro lots allow traders to transact at very small stakes, resulting in minimal profit for the broker. Therefore, they may impose higher spreads on these accounts to generate more revenue.

To verify a broker’s fee structure, you can review the account or fee page on their website or contact customer support.

3. Which account type is best?

Brokers aim to attract a diverse range of clients. Therefore, many brokers offer various account types, including standard, mini, micro, and nano lot accounts. But what do these terms mean?

A lot represents the standardized quantity of currency units in a position. In forex trading, the standard size of one lot is typically 100,000 units of the base currency.

  • 1 Standard Lot represents 100,000 units of currency (1.0 lot).
  • 1 Mini Lot represents 10,000 units of currency (0.1 lot).
  • 1 Micro Lot represents 1,000 units of currency (0.01 lot).
  • 1 Nano Lot represents 100 units of currency (0.001 lot)

Some brokers will offer a trading account called Micro. This means that when you trade, you are trading one-hundredth of a standard lot (0.01 lots).

However, during my research, I found that many brokers offer trading in 0.01 lots on many of their other standard accounts. Many non-micro-named accounts may offer better terms and trading fees than a micro-named account. It’s well worth doing your due diligence and researching each account type the broker offers before committing.

The ideal scenario for micro lot traders is to use an account with the lowest trading fees and the most trading features. This may not necessarily be the micro-named account but any account that allows trading a volume of 0.01 lots. Check the broker’s account page, terms and conditions, and speak to customer support if in doubt.

Check out our picks of Best forex demo accounts.

4. How much leverage is available?

One reason forex and CFD trading is so popular is leverage. When trading on leverage, you can open a larger position using a small deposit, amplifying both gains and losses.

For example, a leverage ratio of 1:30 allows you to initiate a position valued at $30 with a mere $1 deposit, granting control over a position thirty times the size of your deposit.

Regulators in the Tier-1 category, including the FCA, CySEC, ASIC, and IIROC, have imposed restrictions on retail trading leverage, capping it at 1:30. However, many offshore brokers may offer extremely high leverage, reaching up to 1:2000 in some cases. While this can help to maximize your returns, it can also wipe them out due to the potential of a margin call.

When trading with leverage, your profit and loss are calculated on the total trade value, not the margin deposited. The broker might issue a margin call if your account lacks adequate capital to manage the larger position. The broker will automatically close your trades in such circumstances, potentially leading to unforeseen losses.

For traders seeking high-leverage options, FX Empire offers a list of the best forex brokers with high leverage, carefully selected to suit specialized trading needs.

5. What trading platforms are available?

Accessing and trading the financial markets successfully requires a reliable trading platform that is both swift and secure and offers a comprehensive range of features and tools. Some of the widely used trading platforms are:

  • MetaTrader 4 (MT4): A dependable platform equipped with real-time charts, advanced order tickets, diverse timeframes, and an array of technical analysis indicators and drawing tools. Discover best MT4 brokers.
  • MetaTrader 5 (MT5): An upgraded version of MT4, offering additional execution styles, order types, timeframes, and indicators. Discover best MT5 brokers.
  • cTrader: Tailored for high-frequency, algorithmic traders and scalpers, cTrader is designed for fast-timeframe and short-term trading. Read more about best cTrader brokers.
  • TradingView: A web-based social trading platform with advanced research and charting capabilities covering all asset classes globally. See our detailed list on the best TradingView brokers.
  • In-House Proprietary Software: Some brokers develop their proprietary platforms, often providing more features than third-party alternatives.

I personally favor brokers that provide multiple platforms accessible on various devices. This approach ensures seamless switching to an alternative platform or device in case of issues, guaranteeing uninterrupted management of my account. You can also check out our dedicated guide on best forex trading platforms.

What to avoid when choosing a forex and CFD broker?

When choosing a forex and CFD broker offering micro lot trading accounts, be cautious of the following:

  • Unregulated Brokers: Trading with an unregulated broker carries significant risks. In case of fraudulent activities, there are no protective measures to assist in recovering lost or stolen funds.
  • Lack of Transparency: Difficulty comprehending and verifying a broker’s regulatory status, trading fees, and terms suggests a lack of transparency. Do not trust your capital with such brokers, as they may be trying to hide something.
  • No Physical Presence: Brokers lacking a physical office and staff in a reputable region is a major red flag. Reputable brokers typically maintain offices in well-known financial regions and employ a substantial workforce to run the brokerage.
  • Unrealistic Profit Promises: Brokers who make exaggerated and unrealistic promises of substantial profits are dishonest. It’s essential to recognize that all trading involves inherent risks.

How to avoid forex and CFD scams?

To safeguard yourself from forex and CFD scams, adhere to the following guidelines:

  • Only trade with regulated brokers, ideally one regulated by a Tier-1 regulator.
  • Conduct a reputation check by researching the broker online and reviewing customer feedback, news articles, and other relevant sources.
  • Check the broker has a physical office in a safe and credible region.
  • Ensure you can access live customer support to help with any issues.
  • Only use payment methods that you recognize.
  • Always read the terms and conditions carefully.

And if you are still uncertain, you can always check out our database of reviews to find the most reliable brokers.

Our Methodology

To identify the best forex brokers with micro accounts, we evaluated brokers using our proprietary rating system, which analyzes 250 data points across nine core categories:

  • Trustworthiness: We verify the broker’s licenses and regulatory status with the regulator in the jurisdiction they operate in.
  • Fees: We test the competitiveness and transparency of the broker’s trading fees by opening a live account.
  • Trading platform and tools: We test the broker’s trading platforms for user-friendliness and the number of features and tools they provide.
  • Tradable instruments: We examine the number of tradable instruments offered by each broker to ensure a broad range of instruments are available to trade on.
  • Customer support: We engage with the customer support team through different channels to test the ease of access, knowledge, and helpfulness.
  • Payment methods: We examine the different payment methods to check their fees and processing times.
  • Account types: We check each account type to identify the execution method, minimum deposits, fees, and any additional tools or features they provide.
  • Research and education: We explore the quality and depth of each broker’s research and educational materials.

We abide by our strict guidelines for editorial integrity based on the objective standards we have set for our reviews. You can read more about our review process here.

For this page, we also confirmed that each broker provides a micro lot trading account with low minimum deposits, a wide range of currency pairs to trade, and a feature-rich trading platform.

Meet Our Writers

The team of forex and CFD writers and editors at FX Empire is composed of trading industry professionals and seasoned financial journalists. Our writers have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.

Get to Know Our Authors

Dan BlystoneBroker Analyst

Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.

Jitan SolankiBroker Analyst

Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.

Plamen StoyanovBroker Analyst

Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.

Vladimir ZernovBroker Analyst

In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.

A forex micro account allows you to trade one-hundredth of a standard forex contract. This means you can trade in currency units of 1,000 instead of the standard 100,000.
Forex micro accounts are suitable for traders with small funds as they allow the ability to transact in small currency units.
A micro lot is one-hundredth of a standardized forex contract. A standard contract of 1 lot in forex trading equates to 100,000 units. A micro lot allows you to transact in 1,000 currency units.
Leverage is available when trading with a forex micro account, although the amount of leverage varies between brokers and depends on their regulatory authority.
The advantages of trading in micro lots is that you can trade in very small currency units. This means you can take small positions in the market, which is ideal for small account holders.
One potential risk of micro lot trading is that your broker might operate as a market maker and take the opposite side of your trade. This means you may experience price requotes more frequently than with a standard lot trading account.
The minimum deposit required for a micro account varies depending on the broker. Among the forex brokers with micro accounts listed on this page, minimum deposits range from $5 to $500.
Typically, brokers will allow the trading of micro-lots on forex pairs only. However, some may offer other instruments, such as gold and silver and some indices.
Most trading platforms will support micro lot trading if the broker allows it. Common platforms include MT4, MT5, cTrader, and TradingView.
The top brokers offering micro accounts include FP Markets, RoboForex, and XM.
Most brokers will allow you to open multiple accounts with them, making it easy to upgrade from a micro account to a standard account.
A negative balance protection in forex trading is a policy in which your broker automatically closes your trades to ensure your account does not go below zero.
To verify if your broker has negative balance protection, read the legal terms and conditions of the entity with which you open an account. If it is not stated, it is unlikely they offer it.
A compensation scheme provides clients with compensation up to a certain amount in the event the broker goes bankrupt.
If your broker is part of a compensation scheme, it will be written in the legal terms and conditions document. If it is not stated, it is unlikely they offer it.
A segregated fund holds clients’ deposits in a separate bank account from the company’s. This ensures the broker is not using client deposits to run the business.
If your broker segregates client deposits from their own, it will be written in the legal terms and conditions document. If it is not stated, it is unlikely they offer it.

About the Author

Jitan SolankiBroker Analyst

Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.

Why you can trust FX Empire

At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.

Why you can trust FX Empire

FXEmpire was founded in 2011, making us one of the first forex broker review sites. You can trust FXEmpire because of our thorough and unbiased review process. With over a decade of experience, we have a team of industry experts who conduct rigorous tests to ensure our reviews are accurate and unbiased. Our reviews are designed to bring clarity and confidence to the process of choosing a broker, and are based on objective criteria and measurable data. Our editorial team is composed of trading industry professionals and seasoned financial journalists, who ensure that our reviews are accurate and unbiased. Additionally, our review system is based on 9 core categories and over 250 distinct variables, which ensures that all aspects of a broker are considered before giving a final rating. So, you can trust FXEmpire to provide you with honest and informative reviews that will help you make an informed decision on which broker will best enable you to reach your financial goals.