5 best Forex brokers & platforms with mini accounts in comparison

List of 5 best Forex Brokers with mini accounts in comparison:

Minimum Deposit:
Open account:
1. RoboForex
RoboForex logo
(36+ currency pairs)
+ Many awards
+ Huge diversity
+ Many account types
+ 1:2000 Leverage
+ Bonus program
+ Low spreads
+ Low commissions
+ 9,000+ assets
Live account from $10(Risk warning: Your capital can be at risk)
2. FBS
(40+ currency pairs)
+ MT4 & MT5
+ 24/7 support
+ Bonus program
+ Low spreads
+ Low commissions
+ 1:3000 Leverage
+ International trading
Live account from $1(Risk warning: Your capital can be at risk)
3. XM
(55+ currency pairs)
+ Cheap trading fees
+ No hidden costs
+ Regulated and safe
+ International trading
+ 1000+ assets
Live account from $5(Risk warning: Your capital can be at risk)
4. HotForex
(47+ currency pairs)
+ Multi-regulated
+ Low min. deposit
+ International trading
+ Supports MT4 & MT5
+ Professional support
Live account from $5(Risk warning: Your capital can be at risk)
5. OctaFX
(28+ currency pairs)
+ Leverage up to 1:500
+ Supports MT4 & MT5
+ Spreads from 0.2 pips
+ Low commissions
+ Deposit bonus
+ Many account types
Live account from $100(Risk warning: Your capital can be at risk)

If you are reading this article, chances are you have decided to finally jump into the online forex trading bandwagon. It’s easy to see why this profession is quite popular among many people. After all, you can work at your own time and even in the comfort of your own home. But trading forex is not as easy as you think.

The first hurdle you have to tackle is finding the forex broker that has everything you need. If you’re just starting out, you would want a broker that offers mini accounts. Mini accounts are ideal for beginners, mainly because it uses a smaller size for trading quantities and market positions. This means you don’t need to shell out a lot of funds to start trading.

But you have to dedicate a lot of your time to research when looking for a broker. You can’t simply rely on online articles or blog posts about a certain forex broker. You have to get to know them on your own. Here are some things you should consider before you deposit any amount into your forex trading account:

  • Does a reputable agency regulate the broker?
  • Are the fees and commissions affordable?
  • Does it have the forex pair that you want to trade?
  • Can you access it from your country?
  • Can you rely on the customer service representatives?
Forex trading chart

This article features five companies that offer a forex broker mini account to their clients. This should help narrow down your list of potential forex brokers. You will get essential information as well as the pros and cons of each broker, so you can make a more informed decision.

List of the 5 best Forex brokers with mini accounts in comparison:

1. RoboForex

The official website of the forex broker RoboForex

RoboForex has been operating since 2009. It caters to traders around the globe. However, RoboMarkets Ltd oversees all the operations in the EEA and the EU countries. The company has won over ten prestigious awards, including Most Trusted Broker, Best Affiliate Program, and Best Investment Products.

This broker is regulated by IFSC, International Financial Services Commission, CySEC, and the Cyprus Securities and Exchange Commission. With over 800,000 clients from more than 160 countries, RoboForex ensures that the clients’ funds are safe and segregated into separate accounts.


  • The minimum deposit is only $10
  • This broker offers free research tools and trading signals.
  • It features CopyFx, which is a unique program used for investment.
  • You can instantly withdraw your funds.
  • A mobile application is available for all mobile devices.
  • MetaTrader 4, MetaTrader 5, cTrader, R Web Trader, R Mobile Trader, and Rs Stocks Trader are the available trading platforms.
RoboForex logo


  • There are only 36 tradeable currency pairs for specific account types.
  • There’s a significant lack of trading tools when you’re using the R Trader platform.

RoboForex’s customer support is available around the clock and supports 11 languages. These languages include English, Kazakh, Taiwanese, Vietnamese, Thai, Malay, Arabic, Ukrainian, Portuguese, Chinese, Uzbek, Spanish, and Czech.

(Risk Warning: Your capital can be at risk)

2. FBS

The official website of the forex broker FBS
Official website of FBS

FBS is an online broker that has been around since 2009. It has a main office located in Cyprus, and it serves more than 17 million clients from countries like Pakistan, South Africa, The Philippines, Indonesia, and many more.

Tradestone Ltd controls the operations in the EU area. This company is regulated by CySEC or the Cyprus Securities and Exchange Commission. As for the global branch, it is overseen by FBS Markets. It holds a license to operate issued by the IFSC or the International Services Commission of Belize.


  • You can use either the MetaTrader 4 or MetaTrader 5 trading platform.
  • The minimum deposit is very low ($5)
  • The broker offers competitive spreads at zero pips.
  • They offer numerous promos for their clients.
  • Open a demo account without having to spend a dime.
FBS logo


  • For EU customers, you can only choose from a few account types.
  • EU customers have limited options when it comes to trading.

If you wish to contact FBS’s customer support representatives, you can email them, call them on their hotline, or send them a message on their live chatbox on the website. You can ask for English, French, Italian, Portuguese, Spanish, and German assistance.

(Risk Warning: Your capital can be at risk)

3. XM

The official website of the forex broker XM trading
XM trading official website

XM, also known as XM Group, consists of four online brokers. These are Trading Point MENA Limited, XM Global, Trading Point of Financial Instruments Pty Ltd, and Trading Point of Financial Instruments. XM Group serves more than 1.5 million traders in over 190 countries with a wide global reach.

The Dubai Financial Services Authority regulates it, the Australian Securities and Investments Commission, the International Financial Services Commission, and the Cyprus Securities and Exchange Commission.


  • Free educational materials like e-books, video tutorials, and articles are available on the website.
  • The minimum deposit is $5.
  • It offers a free VPN service to all its clients.
  • A free demo account is available for anyone to use, and it comes with virtual funds.
  • MetaTrader 4 and MetaTrader 5 are the available trading platforms.
  • The mobile app is available on both Android and Apple devices.
  • You can enjoy low spreads on a wide range of forex pairs.
XM Trading logo


  • Customer service representatives are only available on weekdays.
  • The different account types lack diversity.

XM features a live chat support service found on the website and platform. However, clients can also email them or give them a call if they have any concerns or questions. Chat support is available in English, Malay, and Polish. Indonesian, Swedish, Arabic, Portuguese, Filipino, Chinese, Vietnamese, French, German, Dutch, Czech, Korean, Italian, Spanish, and many more.

(Risk warning: 75.59% of retail CFD accounts lose)

4. HotForex

The official website of the forex broker HotForex
HotForex website

Through its ten years in the trading business, HotForex has earned a reputation for itself and has gained a huge number of clients from around the globe. It holds numerous titles like Best Forex Broker, Best Forex Mobile Application, Most Transparent Broker, Faster Growing Forex Broker, and many more.

Since HotForex is one of the biggest forex brokers, it is regulated by five regulatory agencies. These are the Financial Services Authority, Financial Sector Conduct Authority, Dubai Financial Services Authority, and Financial Conduct Authority.


  • MT4 and MT5 trading platforms are available.
  • FX Blue Labs provides Premium Trader Tools that enhance the trader’s experience when using the MetaTrader platforms.
  • $5 is the minimum amount required in your trading account.
  • There are more than 50 major, minor, and exotic currency pairs to trade with HotForex.
  • Trading platforms are also available on Apple and Android devices.
  • The education tab features video courses, webinars, tutorial videos, and many more.
HotForex logo


  • Although there are a lot of educational videos, the education tab could also use some articles.
  • The cost for trading is slightly higher compared to other brokers.

In case you have any more questions, you can contact the company’s customer support representatives through the live support tab found on the upper side of the website. Keep in mind, however, that this is only available 24/5. The website can be viewed in English, Italian, French, Spanish, German, Filipino, Korean, Japanese, Portuguese, Indonesian, Malay, Vietnamese, Polish, and many more.

(Risk Warning: Your capital can be at risk)

5. OctaFX 

The official website of the forex broker OctaFX
OctaFX website

OctaFX is known for being a low-cost trading platform that also has a social copy-trading feature. It was founded in 2011, and it offers its services to over 30,000 clients from more than 100 countries around the world. Its main office can be found in St. Vincent and the Grenadines.

The company that oversees and regulates OctaFX is the FCA or Financial Conduct Authority. To avoid any problems with funds, OctaFX makes sure to keep their client’s money in a segregated account.


  • The minimum deposit is only $5.
  • OctaFX has its own proprietary trading platform that is dedicated to copy-trading.
  • The website has a forex calculator as well as an economic calendar.
  • The company features contests where users can participate and win prizes every now and then.
  • A 50% bonus is also offered to clients.
  • You can watch free tutorial videos on the website.
  • The website is very easy to navigate.
OctaFX logo


  • An offshore company regulates the company.
  • There’s a limited selection of forex pairs to trade on the platform.

OctaFX’s support service is available 24/7. You can easily get in touch with a representative via the live chat on the website. You can also email them or message them on Facebook Messenger, Twitter, or Instagram.

The website supports English, Indonesian, Malay, Chinese, and Vietnamese. Arabic, Hindu, Spanish, German, Portuguese, and many more languages.

(Risk Warning: Your capital can be at risk)

What is a mini account for forex trading?

Mini or micro accounts are online forex trading accounts that are designed for beginners. These accounts often have a very low deposit requirement and have the highest micro lot trading and leverage. These mini accounts can also be used by traders to practice trading in a live environment without having to invest a lot of money.

Although mini forex trading accounts are ideal as a start, they are not great if you wish to be in the forex trading profession for a long time. With mini accounts, you are trading in a smaller size. These are called mini lots. Mini lots are only 10,000 units instead of the standard 100,000.

It’s also important to keep in mind that mini accounts don’t have the same features as standard accounts. For example, standard accounts may have access to certain tools that enhance their trading experience while mini accounts don’t.

Typically, brokers offer mini accounts to help convince traders to invest in forex. But this doesn’t mean you don’t stand to gain at all if you are using a mini account. You can make a profit, but don’t expect to earn thousands or millions of dollars. After all, mini accounts only require a small amount as a deposit. And when it comes to trading, the higher you invest, the higher the possible profit.

How to open a mini account

Forex trading chart

To open a mini account, you simply have to sign up with the broker of your choice. Information like your complete name, email address, and telephone number are required. The broker will also ask you to verify your email address and telephone number.

Next, you will choose the account type that you wish to create. In this case, click on the mini, micro, or cent account. After that, the broker will ask you to deposit funds into your account so you can start trading live.

Keep in mind that additional information like your address and a couple of bank details may be required. This information is required when you need to make a withdrawal from your account.


Using a mini account has numerous advantages. As previously mentioned, this account type is designed for beginners or novice traders. With a mini account, you only need to invest a small amount of money to be able to start trading.

Additionally, the lot sizes are lowered to 10,000 units instead of the normal 100,000 per lot. This allows the trader to get used to trading in a live environment without having to spend too much. It also helps minimize the risk of loss.


Although it sounds like the risk is lessened when you use a mini account, this is not true. Since you are using higher leverage, the risk will also be significantly higher than normal. And since the minimum deposit required is quite low, one slip-up could wipe out your account entirely.

Micro accounts are also not ideal if you want to try to make a fortune in forex trading. Smaller investments mean smaller gains. Additionally, you will be trading micro lots instead of standard lots.


Forex brokers typically allow mini account holders to use more leverage compared to standard account holders. This is because instead of standard lots, mini lots are being utilized by the client. However, the leverage offered depends on the broker. Make sure to check out each of the brokers to get additional information on how high the leverage they offer is.

Forex chart


  • RoboForex
roboforex logo

RoboForex supports a wide range of deposit methods. For bank payments, you can use Santander, Santander Rio, Boleto, PSE, China UnionPay, Bradesco, Bancolombia, Eximbank, TPBank, Asia commercial bank, and many more. It only takes one day to process payments made with this method.

If you want to deposit using an e-wallet, you can use Skrill, AstroPay, Neteller, AdvCash, Perfect Money, and NganLuon Wallet. Typically, the funds will be credited to your account in a couple of minutes or hours. The bank cards supported by RoboForex are China UnionPay, MasterCard, Visa, and JCB. Deposits take up to one day.

  • FBS
fbs logo

With FBS, you can top up your account with your Visa card, Perfect Money, Skrill, STICPAY, and Neteller. These methods support both EUR and USD currency, and the funds will instantly reflect on your FBS account.

  • XM
xm logo

Once you successfully create an account with XM, log in to the Members Area, and you will see a list of deposit methods supported by this broker. Electronic payments, bank or wire transfers, and credit card payments are among the available method.

  • HotForex
hot forex logo

This broker supports multiple deposit methods. For deposits with debit or credit cards, HotForex accepts Visa and MasterCard. BitPay, WebMoney, VLoad, Skrill, Neteller, and FasaPay are available for online wallets. Bank and wire transfers can also be utilized by the client.

Deposits usually show up on your HotForex account instantly. But you should at least give it up to ten minutes. If you used the wire transfer method, however, it may take two to seven business days to transfer the amount you deposited.

  • OctaFX 
OctaFX logo

To deposit funds to your OctaFX mini account, you can use the bank or wire transfer method. This method usually takes three to seven business days. However, if you use your debit or credit card or any online wallet, your funds will reflect on your account immediately.

Make sure to deposit using USD so you won’t have to pay a fee. However, you do have the option to deposit using a different currency. Just keep in mind that a conversion fee will apply, and you will have to shoulder it.


When it comes to withdrawing your funds, it’s ideal for you to use the exact same method you used to deposit funds into your live online forex trading account. This makes the withdrawal process smoother and easier.

No fees are charged when you withdraw your funds for most brokers. But make sure to read the terms and conditions to prevent any misunderstandings. Also, read the information provided above. When you withdraw your funds, you will see if the broker charges a commission or fee.

The processing time for withdrawals made via wire or bank transfer is usually a couple of days. For debit or credit cards, this takes at least a day. For online wallets, this is usually instant, but you should give it up to 24 hours.

If the process is taking way too long or you have any concerns, you should immediately get in touch with your broker. They will help you with the withdrawal process and even give you an update on your withdrawal request. But you can rest assured that you will get the funds that you withdraw eventually.

Conclusion – Micro accounts are great for beginners

The process of looking for a forex broker that offers a mini account is not a walk in the park. Although articles like this exist to help you through the decision-making process, you should not blindly trust the information you get from the internet.

Take some time to visit the potential broker. Sign up for a demo account and check out the platform and its tools. Chat with an agent through the live chat feature and try to get to know the company even more by asking them important questions.

It’s important for you to conduct your own research before jumping in with both feet and signing up with a broker. After all, they will act as your trading partner. You want a broker that you can completely trust and rely on.

Trading on a mini or micro account is great for beginners. But this doesn’t mean professionals can’t use this type of account. It works great as a training account because there’s minimal risk, and you don’t have to invest a lot of money.

Oftentimes, professional traders use mini accounts to hone their skills or develop new trading strategies for them to use on their standard accounts. Demo accounts can also be used, but training on the live market speeds up the learning process. It also helps discipline you since real money is involved.

In conclusion, if you are looking to start trading but you are a bit skeptical, make use of a mini account. Alternatively, if you want to test your skills as a trader, or you want to learn new things, sign up for a mini account before you trade on a standard account.

Forex trading chart analysis

FAQ – The most asked questions about Forex Brokers with mini accounts :

How do I trade using a mini or micro account? 

Clients holding a mini or micro account trade the exact same way as standard account users. However, there are quite a few differences when it comes to lot sizes, fees, and commissions. 
These all vary depending on the broker you are partnered with. So make sure to thoroughly read the conditions of the micro account that they offer. If you are having trouble getting the information you need, you can contact their customer support.

What is a micro or mini account?

Micro accounts were created for newbie traders or clients who want to practice trading with minimal risk. Micro accounts have a smaller deposit requirement, and the clients are allowed to use higher leverage to reduce the risk when trading.

How much should I deposit in my micro account?

Brokers usually only require $5 to $10 if you are using a micro account. However, you can add more funds if you wish to try to gain a bit more. Just keep in mind that trading is risky, and you should not put all your money into this profession.

Can I earn on a micro account?

Absolutely! As long as you play your cards right and you invest the right amount of money, you can earn a profit. But keep in mind that the less you invest, the less your profit will be.

What is a forex broker mini account?

A forex mini account enables beginners to trade foreign exchange using mini lots, which are smaller trading sizes. Mini lots represent 10,000 currency units rather than 100,000, which is a tenth of the size of a standard lot. As the same amount of cash may be spread across a wider variety of currency pairs, trading in small lots may allow for better forex diversification.

What are the advantages of having a forex broker mini account?

The advantages of having a forex broker mini account are mentioned below.
– Mini lot sizes for a forex mini account are 10,000 units instead of 100,000 units for a conventional lot.
– This implies that a change of one pip in a currency pair based on the US dollar equals $1 instead of $10 for a regular lot.
– With less risk, the smaller lot size encourages learning and experimentation among rookie forex traders.
– Additionally, traders have more control over position sizing with smaller lot sizes.

What are the cons of a forex broker mini account?

Mini accounts have several drawbacks, but their main drawback is that experienced traders cannot use them. The small account will no longer be appropriate for such uses once the trader has gained experience and is urged to start trading larger positions.

Furthermore, several of the key elements that are accessible to other traders and which could improve trading outcomes are not offered to users of small accounts. 

Regular updates and daily market analysis are common for Standard or VIP account members, but some of these features are unavailable to mini-account holders.

Last Updated on January 27, 2023 by Arkady Müller