Adam Rosen - Lead financial writer
The minimal amount of money that must be placed into an account before it may be opened at a financial institution is referred to as the minimum deposit or initial deposit. Accounts that provide premium services often have higher minimum deposits, whereas accounts that are geared at a mass audience typically have lower minimum deposits in order to attract new consumers.
The minimum deposit required to open an account with many of the most reputable online brokers is relatively low or even nonexistent. Traders who want to test a live account before investing significant cash are attracted to trading platforms with low minimums. Nevertheless, it is essential to select a broker that is governed by regulations and provides the trading tools essential to your success.
There are certain cheap brokerage and investment management platforms that provide low-cost platforms that, in some situations, do not need a minimum deposit from its customers. The low-cost strategy has also been expanded to include other charge categories, such as doing away with per-trade costs. This occurs as a result of the increased level of competition among companies providing financial services.
New traders should look for online brokers that have low required initial deposits if they want the best options. They establish a connection between investors and the financial markets and make it possible for traders to evaluate the various services offered by brokers. However, it is essential not to lose sight of the fact that you are going to need a reputable platform that provides you with the tools and access you require.
🤴 IC Markets is Used By: 180,000
âš¡ IC Markets is Regulated by: Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)
💵 What You Can Trade with IC Markets: Forex, Majors, Energies, Metals, Agriculturals,
💵 Instruments Available with IC Markets: 232
📈 IC Markets Inactivity Fees: No
💰 IC Markets Withdrawal Fees: No
💰 IC Markets Payment Methods: Credit Cards, VISA, MasterCard, Debit Cards, Visa, MasterCard, Bank Transfer, PayPal, Neteller, Neteller VIP, Skrill, Poli, Cheque, BPAY, UnionPay, FasaPay, QIWI, RapidPay, Klarna, Electronic wallets (eWallets), Broker to Brokers, Thai Internet Banking, Vietnamese Internet Banking,
IC Markets Risk warning : Losses can exceed deposits
🤴 Roboforex is Used By: 10,000
âš¡ Roboforex is Regulated by: Financial Services Commission (FSC) License 000138/437
💵 What You Can Trade with Roboforex: Forex, Minors, Majors, Exotics, Indices, Metals,
💵 Instruments Available with Roboforex: 100
📈 Roboforex Inactivity Fees: No
💰 Roboforex Withdrawal Fees: Yes
💰 Roboforex Payment Methods: Credit cards, VISA, MasterCard, JCB, Debit cards, Bank Transfer, Electronic wallets (eWallets), Neteller, Skrill, Perfect Money, AdvCash, BPAY, China UnionPay, FasaPay, CashU, WeChat Pay, ecoPayZ, AstroPay, Sofort, Giropay, Poli, Wepay, iDEAL, Payoneer,
Roboforex Risk warning : Losses can exceed deposits
🤴 AvaTrade is Used By: 200,000
âš¡ AvaTrade is Regulated by: Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), British Virgin Islands Financial Services Commission (BVI)
💵 What You Can Trade with AvaTrade: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, UK Stocks, US Stocks, Energies, Metals, Agriculturals, ETFs, IPO, Bonds,
💵 Instruments Available with AvaTrade: 1000
📈 AvaTrade Inactivity Fees: No
💰 AvaTrade Withdrawal Fees: No
💰 AvaTrade Payment Methods: Credit cards, VISA, MasterCard, Bank Transfer, Electronic wallets (eWallets), PayPal, Neteller, WebMoney, Payoneer,
AvaTrade Risk warning : 71% of retail CFD accounts lose money
🤴 FP Markets is Used By: 10,000
âš¡ FP Markets is Regulated by: Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Financial Services Authority (St. Vincent and the Grenadines)
💵 What You Can Trade with FP Markets: Forex, Minors, Majors, Exotics, Indices, Metals,
💵 Instruments Available with FP Markets: 100
📈 FP Markets Inactivity Fees: No
💰 FP Markets Withdrawal Fees: No
💰 FP Markets Payment Methods: Credit cards, VISA, MasterCard, Debit cards, Bank Transfer, Electronic wallets (eWallets), Neteller, BPAY, POLi, PayPal, Neteller, Skrill, PayTrust, NganLuong VN, Fasapay, Broker to Broker, OnlinePay China, Directa24, Klarna, PayTrust88, Payoneer,
FP Markets Risk warning : Losses can exceed deposits
🤴 NordFX is Used By: 10,000
âš¡ NordFX is Regulated by: Cyprus Securities and Exchange Commission (CySEC), License No: 209/13
💵 What You Can Trade with NordFX: Forex, Majors, Metals,
💵 Instruments Available with NordFX: 50
📈 NordFX Inactivity Fees: No
💰 NordFX Withdrawal Fees: No
💰 NordFX Payment Methods: Bank Transfer, Neteller, PerfectMoney, WebMoney, FasaPay, CashU, Payza, QIWI,
NordFX Risk warning : Losses can exceed deposits
🤴 XTB is Used By: 250,000
âš¡ XTB is Regulated by: Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comision Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa
💵 What You Can Trade with XTB: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, UK Stocks, US Stocks, Pennystocks, Energies, Metals, Agriculturals, ETFs,
💵 Instruments Available with XTB: 4000
📈 XTB Inactivity Fees: Yes
💰 XTB Withdrawal Fees: No
💰 XTB Payment Methods: Credit cards, MasterCard, Maestro, Visa, Debit cards, Bank Transfer, Electronic wallets (eWallets), PayPal, Neteller, Skrill, Poli, Paysafe, Payoneer,
XTB Risk warning : 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
🤴 Pepperstone is Used By: 89,000
âš¡ Pepperstone is Regulated by: Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217
💵 What You Can Trade with Pepperstone: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, Energies, Metals,
💵 Instruments Available with Pepperstone: 100
📈 Pepperstone Inactivity Fees: Yes
💰 Pepperstone Withdrawal Fees: No
💰 Pepperstone Payment Methods: Credit cards, VISA, MasterCard, Debit cards, Bank Transfer, Electronic wallets (eWallets), PayPal, Neteller, BPAY, POLi, UnionPay, FasaPay, QIWI, Payoneer,
Pepperstone Risk warning : CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money
🤴 XM is Used By: 10,000,000
âš¡ XM is Regulated by: Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)
💵 What You Can Trade with XM: Forex, Stock CFDs, Commodity CFDs, Minors, Majors, Exotics, Equity Indices CFD, Energies CFD, Precious Metals
💵 Instruments Available with XM: 1000
📈 XM Inactivity Fees: Yes
💰 XM Withdrawal Fees: No
💰 XM Payment Methods: Credit cards, Debit cards, Bank Transfer, Electronic wallets (eWallets), Moneta, ABAQOOS, PRZELEWY24, Neteller, PerfectMoney, WebMoney, UnionPay, FasaPay, CashU, Payza, QIWI, SOFORT, Giropay, Payoneer, Skrill,
XM Risk warning : CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.74% of retail investor
accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford
to take the high risk of losing your money.
🤴 eToro is Used By: 20,000,000
âš¡ eToro is Regulated by: Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC)
💵 What You Can Trade with eToro: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, UK Stocks, US Stocks, Energies, Metals, Agriculturals, ETFs,
💵 Instruments Available with eToro: 2000
📈 eToro Inactivity Fees: Yes
💰 eToro Withdrawal Fees: Yes
💰 eToro Payment Methods: Credit cards, VISA, MasterCard, Maestro, Debit Cards, Bank Transfer, PayPal, Neteller, Skrill, WebMoney, Giropay, eWallets,
eToro Risk warning : 76% of retail investor accounts lose money when trading CFDs with this provider.
🤴 FXPrimus is Used By: 10,000
âš¡ FXPrimus is Regulated by: Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Vanuatu Financial Services Commission (VFSC)
💵 What You Can Trade with FXPrimus: Forex, Minors, Majors, Exotics, Indices, UK Stocks, US Stocks, Energies, Metals,
💵 Instruments Available with FXPrimus: 130
📈 FXPrimus Inactivity Fees: No
💰 FXPrimus Withdrawal Fees: Varies
💰 FXPrimus Payment Methods: Credit cards, VISA, MasterCard, Debit cards, Bank Transfer, Electronic wallets (eWallets), Neteller, Skrill, Payoneer, SafeCharge, TrustPay, EmerchantPay, Bitcoin, UnionPay, FasaPay, Giropay,
FXPrimus Risk warning : Losses can exceed deposits
🤴 easyMarkets is Used By: 142,500
âš¡ easyMarkets is Regulated by: Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI)
💵 What You Can Trade with easyMarkets: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, Energies, Metals, Agriculturals, Options,
💵 Instruments Available with easyMarkets: 200
📈 easyMarkets Inactivity Fees: No
💰 easyMarkets Withdrawal Fees: No
💰 easyMarkets Payment Methods: Credit cards, MasterCard, Maestro, American Express, JCB, Astropay, Debit cards, Bank Transfer, SOFORT, GiroPay, iDeal, Bpay, Electronic wallets (eWallets), Skrill, Neteller, WebMoney, UnionPay, WeChatPay, FasaPay, STICPAY,
easyMarkets Risk warning : Your capital is at risk
🤴 Trading 212 is Used By: 15,000,000
âš¡ Trading 212 is Regulated by: Financial Conduct Authority (FCA), Financial Supervision Commission (FSC)
💵 What You Can Trade with Trading 212: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, UK Stocks, US Stocks, Energies, Metals, ETFs, Bonds,
💵 Instruments Available with Trading 212: 10000
📈 Trading 212 Inactivity Fees: No
💰 Trading 212 Withdrawal Fees: No
💰 Trading 212 Payment Methods: Credit cards, MasterCard, VISA, Debit cards, Bank Transfer, Electronic wallets (eWallets), PayPal, Skrill, Dotpay, Carte Bleue, Direct eBanking, Apple Pay, Google Pay, iDeal, Giropay,
Trading 212 Risk warning : CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
🤴 Admiral Markets is Used By: 10,000
âš¡ Admiral Markets is Regulated by: Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Jordan Securities Commission (JSC)
💵 What You Can Trade with Admiral Markets: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, UK Stocks, US Stocks, Energies, Metals, ETFs, Bonds,
💵 Instruments Available with Admiral Markets: 148
📈 Admiral Markets Inactivity Fees: No
💰 Admiral Markets Withdrawal Fees: No
💰 Admiral Markets Payment Methods: Credit cards, Visa, MasterCard, Debit cards, Bank Transfer, Electronic wallets (eWallets), PayPal, Neteller, Skrill, SOFORT, Safety Pay, Przelewy, iDEAL, Klarna,
Admiral Markets Risk warning : Losses can exceed deposits
🤴 SpreadEx is Used By: 10,000
âš¡ SpreadEx is Regulated by: Financial Conduct Authority (FCA)
💵 What You Can Trade with SpreadEx: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, UK Stocks, US Stocks, Pennystocks, Energies, Metals, Agriculturals, ETFs, IPO, Bonds, Options, Treasuries,
💵 Instruments Available with SpreadEx: 15000
📈 SpreadEx Inactivity Fees: No
💰 SpreadEx Withdrawal Fees: 0, minimum £50
💰 SpreadEx Payment Methods: Credit cards, VISA, Switch, Maestro, Debit cards, Bank Transfer, Payoneer,
SpreadEx Risk warning : Losses can exceed deposits
🤴 Markets.com is Used By: 4,000,000
âš¡ Markets.com is Regulated by: Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), BVI Financial Services Commission (BVI FSC)
💵 What You Can Trade with Markets.com: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, UK Stocks, US Stocks, Energies, Metals, Agriculturals, ETFs, Bonds,
💵 Instruments Available with Markets.com: 2200
📈 Markets.com Inactivity Fees: Yes
💰 Markets.com Withdrawal Fees: No
💰 Markets.com Payment Methods: Credit cards, Debit cards, Bank Transfer, Electronic wallets (eWallets), Skrill, Neteller, PayPal,
Markets.com Risk warning : 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
🤴 HYCM is Used By: 10,000
âš¡ HYCM is Regulated by: Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048
💵 What You Can Trade with HYCM: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, UK Stocks, Energies, Metals, Agriculturals,
💵 Instruments Available with HYCM: 100
📈 HYCM Inactivity Fees: Yes
💰 HYCM Withdrawal Fees: No
💰 HYCM Payment Methods: Credit cards, Debit cards, Bank Transfer, PayPal, WebMoney, Payoneer,
HYCM Risk warning : Losses can exceed deposits
🤴 Swissquote is Used By: 300,000
âš¡ Swissquote is Regulated by: Swiss Financial Market Supervisory Authority (FINMA), Commission de Surveillance du Secteur Financier (CSSF), Financial Conduct Authority, Dubai Financial Services Authority (DFSA), Hong Kong Securities and Futures Commission (SFC), Monetary Authority of Singapore (MAS)
💵 What You Can Trade with Swissquote: Forex, Minors, Majors, Exotics, Indices, UK Stocks, US Stocks, Pennystocks, Energies, Metals, Bonds,
💵 Instruments Available with Swissquote: 100
📈 Swissquote Inactivity Fees: No
💰 Swissquote Withdrawal Fees: $10
💰 Swissquote Payment Methods: Credit cards, Debit cards, Bank Transfer, Payoneer,
Swissquote Risk warning : Losses can exceed deposits
🤴 Axi is Used By: 10,000
âš¡ Axi is Regulated by: Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Dubai Financial Services Authority (DFSA), Financial Service Authority of St. Vincent and the Grenadines (FSA)
💵 What You Can Trade with Axi: Forex, Minors, Cryptocurrencies, Majors, Exotics,
💵 Instruments Available with Axi: 100
📈 Axi Inactivity Fees: No
💰 Axi Withdrawal Fees: No
💰 Axi Payment Methods: Credit cards, Debit cards, Bank Transfer, Neteller, BPAY, UnionPay, Payoneer,
Axi Risk warning : Losses can exceed deposits
🤴 ThinkMarkets is Used By: 500,000
âš¡ ThinkMarkets is Regulated by: Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Financial Sector Conduct Authority (FSCA), Financial Services Authority Seychelles (FSA), TF Global Markets (UK) Limited is authorised and regulated by the Financial Conduct Authority FRN 629628, TF Global Markets (AUST) Limited is the holder of Australian Financial Services License number 424700, TF Global Markets (South Africa)(Pty) Ltd is an Authorised Financial Services Provider (FSP No 49835),TF Global Markets Int Limited Is authorised and regulated by the Financial Services Authority Firm Reference Number SD060
💵 What You Can Trade with ThinkMarkets: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, Energies, Metals,
💵 Instruments Available with ThinkMarkets: 1500
📈 ThinkMarkets Inactivity Fees: Yes
💰 ThinkMarkets Withdrawal Fees: No
💰 ThinkMarkets Payment Methods: Credit cards, Debit cards, Bank Transfer, Electronic wallets (eWallets), Neteller, Skrill, BitPay,
ThinkMarkets Risk warning : CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money
🤴 ForTrade is Used By: 1,000,000
âš¡ ForTrade is Regulated by: Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Investment Industry Regulatory Organization of Canada (IIROC), National Bank of the Republic of Belarus (NBRB)
💵 What You Can Trade with ForTrade: Forex, Minors, Cryptocurrencies, Majors, Exotics, Bonds,
💵 Instruments Available with ForTrade: 100
📈 ForTrade Inactivity Fees:
💰 ForTrade Withdrawal Fees: No
💰 ForTrade Payment Methods: Credit cards, Debit cards, Bank Transfer, PayPal, Neteller, Payoneer,
ForTrade Risk warning : Your capital is at risk
Before opening an account with any forex broker, forex brokers consider a number of factors, one of which is the minimum deposit required. The minimum deposits can range anywhere from several thousand dollars to as little as one dollar. In order to cover the expenses associated with creating an account and to ensure that traders have sufficient capital, online brokers require an initial payment.
Accounts with a low, average, or even no initial deposit are designed with novice and learning forex traders in mind. It's possible that a new retail forex trader won't have sufficient financial resources to open large positions when they first begin trading forex. They need an account that is cheap, one that has cheap trading costs, and one that has no minimum deposit requirement.
Brokers that require no minimum deposit allow traders to practise on their platforms without having to spend any money. The forex trader has the ability to determine the maximum amount that they are willing to trade. They can put up any amount of money they want to risk because there are no limits on how much they can lose. This makes it a good way to practise different strategies.
Con artists often assume the identity of forex brokers when operating in other industries, including the foreign exchange market. The majority do not require any sort of minimum deposit, which is one of the main selling points. As soon as the victims deposit money into their platforms, the scammers use unethical methods to manipulate the trades in such a way that causes forex traders to lose their money.
IC Markets was established in 2007 and has a track record of successfully delivering foreign exchange services to more than 180,000 customers. On bank transfers, traders are able to open an account with no initial deposit required. It is governed by the forex industry's top six most important regulatory bodies, known as tier-1 regulators.
There are seven distinct types of forex trading accounts offered by IC Markets. Designed to accommodate a wide range of different types of traders in order to foster an atmosphere of healthy competition. In addition to that, there is the Islamic account, which abides by the Sharia laws. In accordance with Sharia law, Muslims are exempt from paying overnight fees, which are among the many fees that the laws consider to be exploitative.
After completing the necessary steps to register for the demo account, traders have access to IC Markets free demo account. Over twenty thousand virtual funds are available for use by forex traders so that they can practise on the IC Markets platform. Trading platforms such as MT5, MT4, cTrader are also available from IC Markets.
Traders have access to these trading platforms through the web-based version, the desktop application, and the mobile application. It provides a straightforward interface that is simple to grasp for traders of any level of experience. In addition to having access to the Autochartist and the Daily Fx, forex traders have access to a total of over 30 trading indicators.
Ig uses a system called direct market access to offer narrow spreads that are relatively close to the liquidity providers. They offer a spread on the EUR/USD currency pair that is typically 0.1 pips in average. The commissions are higher than those offered by other forex brokers, but there are no fees associated with deposits or withdrawals.
On their website, you have the option to make deposits using a variety of payment methods, including bank transfers, credit and debit cards, and e-wallets like Neteller, Skrill, and PayPal.
Customers have access to live chat, various social media platforms, and the telephone to make contact with them. Their customer service department provides prompt responses, which contributes to the company's credibility.
RoboForex is a low deposit foreign exchange broker. When it first appeared on the market in 2007, it contracts for difference (CFDs) on stocks, cryptocurrencies, commodities and foreign currencies which are all available to traders. There is a $100 requirement that you make a minimum deposit in order to open an account.
Forex traders who use RoboForex have the option of opening either the standard or the pro account. You have the option of opening either an individual account, a joint account, or a cooperative account. Muslim traders have the choice to trade using either conventional accounts or Islamic accounts, along with a variety of other trading options.
RoboForex provides clients with access to a wide variety of instruments and leverage that can reach up to 1:500. Before making the transition to trading in real time, new traders would benefit from using this tool. New traders can benefit from the trading signals provided by the Auto-chartist function made available in Meta Trader 4 trading platform.
VPS hosting provides traders with an environment that is beneficial for trading and helps to reduce laxity. The mobile application, the desktop version, and the web-based version all come equipped with each and every one of these features.
When you open a forex account, the spreads on RoboForex will change accordingly. The standard account does not charge any commissions, but the forex spreads are very wide. The professional account has tight spreads that start from 0.0 pip.
You can load money into your RoboForex account by using any major credit or debit card, including Visa, Master Card, and Maestro. Skrill, Union Pay, and Neteller are a few additional payment options you have.
Customer service at Danske Bank is consistently ranked highly within the foreign exchange market. Only for the next five days will you be able to contact them via email and live chat around the clock. It is available in English, German, French, and Spanish, and it supports a variety of languages that are spoken in different parts of the world.
When you open an account with XM, there is no requirement that you make a minimum deposit. XM provides direct access to the forex market. It was established in 2009, and its headquarters are located in Russia; it currently serves a clientele of seven million traders. Foreign exchange traders are able to open positions with a minimum lot size of 0.1.
There are five distinct account types, each with its own set of features. The standard forex account offers no commission on deposits but has high fees associated with trades. Forex traders have access to a comprehensive library of educational materials, which can be utilised during trading. There are also videos, webinars, seminars, and courses available to attend.
ECN gives traders access to over 100 different types of markets, including futures, stocks, commodities, and foreign currencies. It offers leverage as high as 1:1000, but the maximum amount varies depending on the regulatory laws of each country. Meta Trader 4 is the trading platform that XM employs in order to access the market.
There are no fees associated with deposits or withdrawals on XM; however, there is a $10 per month inactivity fee that kicks in after a year of inactivity. It offers floating spreads with an average of 0.2 pips, but the specifics of the spread can change depending on the type of account you trade from.
It is compatible with both credit and debit cards, in addition to digital currencies such as bitcoin. In addition, you have a selection of options available to you, including Bank transfer, UnionPay, Credit Card, Debit Card, Skrill, Neteller, Sorfort. The payment methods are additionally influenced by the location of the forex trader.
Their customer service is quick to respond and is available around the clock. You can get in touch with them through a variety of channels including e-mail, live chats, and social media platforms.
This foreign exchange broker was established in 2002 and is supervised by the financial conduct authority (FCA) of the United Kingdom and the Cyprus Securities and Exchange Commission (CySEC). It operates offices in 13 countries across the globe and serves more than 250,000 currency traders. Demo, standard, and professional accounts are the three varieties that can be chosen from on their website.
For as little as one micro lot, forex traders can open positions in the majority of the world's financial markets. You also have the option of using the professional account, but in order to do so, you must first meet certain requirements. They provide traders who operate in accordance with sharia law with an Islamic account that they can use. It functions in the same way as the other forex accounts, with the exception that forex brokers cannot use it to access the cryptocurrency market.
XTB provides its users with access to a variety of trading tools, including market analysis and news. It employs cutting-edge technology, beginning with the charting software that it uses. More than thirty different charting tools and technical indicators are available to traders. In addition to that, they offer courses on forex trading that are catered specifically to different experience levels.
Access to the XTB forex broker's platform can be gained through a mobile application, desktop version, or web-based version, respectively. The XTB broker does not provide its customers with an automated trading platform, which is one of the company's many shortcomings. It has made amends for this by offering research conducted by analysts with expertise in forex.
XTB does not charge any fees for deposits, withdrawals, or account maintenance. Forex spreads begin at 0.1 pip increments in the United Kingdom but can range anywhere from 0 to 1 pip in other countries. A commission fee of 0.08% is applied to stock trades, ETF trades, and CFD trades by XTB.
On XTB, there are no fees associated with withdrawals or deposits; however, there is a fee associated with conversions. You can avoid this problem by setting up a digital wallet, as doing so will allow you to convert currencies at a lower cost. XTB is able to accommodate a variety of modes of payment, including bank transfers and credit cards issued by Visa, MasterCard, and Maestro.
For customers located within Europe, customer support is available 24 hours a day, five days a week, while for customers located outside of Europe, support is available 24 hours a day, seven days a week. They respond to emails, live chats, and phone calls within twenty-four hours through their support channels.
We list some Low Or No Minimum Deposit Brokers related brokers below.
If you would like to see Low Or No Minimum Deposit Brokers compared against each you can do so by clicking on the links below.