Forex Brokers With $10 Minimum Deposit

Forex Brokers With $10 Minimum Deposit

Forex Brokers With $10 Minimum Deposit - Trading With Smaller Account Sizes

$10 is a relatively low minimum deposit to trade Forex. However some traders may want to trade with smaller account sizes at least at the beginning, as the minimum deposit defines the initial size of the capital in the account, until it is added to or subtracted from by trading. The brokers on this page are chosen because they have a $10 minimum deposit and make it potentially feasible to trade Forex with a smaller account size.

Forex Brokers With $10 Minimum Deposit
BrokerTrading PlatformsWhat It Does
IQ Option
Broker
Web Trader, Desktop Download & Apps
Trading Platforms
IQ Option offers Forex trading with a minimum order size of $1 (or 0.001 lots) and a minimum deposit of $10
What It Does
IQ Option
IQ Option
RoboForex
Broker
MT4, MT5, cTrader, RTrader
Trading Platforms
RoboForex has a wide range of account types including its Cent account for MetaTrader with a minimum deposit of $10
What It Does
IronFX
Broker
MT4
Trading Platform
IronFX offers trading on MT4 with support for trading with robots and has a minimum amount required to trade of $10
What It Does

To trade with a smaller account size, the trader generally needs either to increase leverage or to decrease trade size or to do both. Increasing leverage increases risk, as the size of the account is a factor which determines the extent to which a trader can withstand adverse moves. Increasing leverage allied with a smaller account size can leave little room for retracements and other adverse moves against the traded direction.

Many brokers have a minimum Forex trade size of micro lots (0.01 standard Forex lots). Thus trading with a smaller account size can be an issue, especially if leverage is limited. However some brokers do indeed offer $10 minimum deposits allied with small trade or order sizes, allowing the trader to potentially trade with a smaller account size.

The brokers in the table offer cent accounts or very low minimum order sizes or may provide higher leverage (or combinations of these, depending on location). A cent account is a type of MetaTrader account which is denominated in cents, thus on a cent account a micro lot is in fact 0.0001 standard lots.

The minimum trade size on a cent account can vary, but it typically either 0.001 or 0.0001 lots. These very small trade sizes make it more feasible to trade with small account sizes. The actual value of each move (its pip value) will be correspondingly smaller, but proportionate to the account size in the way increasing leverage with a smaller account size may not be.

Some brokers with a $10 minimum deposit do not have MetaTrader, thus these brokers may provide a low minimum order size (however a MetaTrader cent account is not necessary for allowing smaller order sizes). This means that the trader can set an order size from the minimum upwards when choosing a market to trade. The value of each move with be correspondingly smaller, but also potentially more proportionate to the account size.

Candlestick chart with technical indicator for trading

Leverage can also be used, but the trader should be cautious of using this to trade with smaller account sizes as there may be insufficient capital in the account to deal with adverse moves, where the pip value is subtracted from the account potentially triggering a stop out (which is related to the account size).

What are the consequences of trading with a low minimum order or trade size ? An account accumulates capital when the move goes in favour of the trader (i.e. when its direction matches the direction of the trade). An account subtracts capital when the move goes against the traded position. In neither case are changes in account capital realised until the trade or part of the trade is ended.

However the amount of capital during a trade will affect trade ending risk management factors, such as a Stop Loss, Take Profit or Stop Out. With a low minimum trade or order size and a smaller account balance (i.e. the capital the move adds to or subtracts from) then the sums subtracted may be more manageable and the sums added to will be smaller. It can be helpful not to assume that a move will go in the trader's favour.

The path to a successful trade can be paved with adverse moves as well. So even a successful trade will need to be managed in such a way that it can withstand adverse moves. This is why leveraged trades designed to have a higher pip value may be problematic as they can stop out a trade or make it unmanageable on the path to succeeding. So part of sustainable trading is to get a balance right between leverage, trade size and account size.