Looking for the top forex broker for micro lot trading? After testing 80 brokers this year, our experts have identified the 2 best options tailored to diverse trading needs, complete with practical tips.
Using FXEmpire’s comprehensive methodology, our team of experts has identified the best forex brokers offering micro accounts for this year.
Now, let’s explore the selected brokers.
FP Markets was founded in 2005 and is based in Sydney, Australia. I verified that the broker is licensed and authorized by multiple regulators, including top-tier ASIC and CySEC. You can test drive your strategies with minimal risk thanks to micro lot trading and demo accounts.
Key Micro Lot Account Features:
My hands-on tests showed that FP Markets has competitive spreads, for example 0.8 pips in the Dax 40 versus the industry average of 2.4 pips. You can find lower costs using the Raw account, with spreads from 0.0 pips plus commissions. And FP Markets does not charge any fees for inactivity or deposits/withdrawals.
FP Market earned a perfect score in research. From the Traders Hub, in-house analysts provide insightful coverage of events like central bank meetings and major economic events. You can also get clear-cut signals from Trading Central and Autochartist, with features like automated chart pattern recognition and technical trade ideas.
Roboforex was founded in 2009 and is based in Belize. You can access 115 CFDs via MetaTrader 4 and MetaTrader 5, and over 12,000 CFDs and real shares via its R StocksTrader platform. All accounts offer micro-lot trading, and the ProCent account is specifically designed for testing strategies and Expert Advisors (EAs).
Key Micro Lot Account Features:
The broker offers competitive trading conditions with raw spreads accounts with floating spreads from 0 pips. The minimum deposit is $10, and leverage of up to 1:2000 is available via the Pro and ProCent accounts. And you can choose to denominate your account in EUR, USD, or even gold.
I was also impressed by the education section. The Trading Strategies section walks beginners through 69 practical strategies across different timeframes and indicators. It’s one of the most practical resources I have come across. You can also get real-time market insights and trade ideas from Acuity by installing its plugin to MT4 and MT5.
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.
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 licensed 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 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.
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.
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.
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 licensed 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.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.