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Best Mini Account Forex Brokers

Written by
Fact-checked by Steven Hatzakis
Fact-checked by Joey Shadeck
Edited by John Bringans

October 10, 2023

Please note:

A member of our editorial team used a proprietary blend of Generative AI technologies to assist in the creation of the content on this page. All information contained herein has been fact-checked by our lead writer in conjunction with our research team, and thoroughly edited by our editorial staff. Learn more about our generative AI policies, our editorial principles, and our testing methodologies.

Mini forex accounts can be a great option for new or inexperienced forex traders looking to gain experience without risking a large amount of capital. In this beginner's guide, we'll explore the advantages and risks associated with mini forex accounts. We'll also provide guidance on how to get started with your own mini account for forex trading.

What is a mini forex account?

A mini forex account is a type of trading account that allows individuals to trade smaller lot sizes compared to standard accounts. This means that you can enter the forex market with a lower initial investment, making it more accessible for those who are just starting out or have limited funds.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 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.

Best mini account forex brokers

Check out our pick for the best forex brokers that offer mini account options:

  • IG
    - 9.9/10 Overall
  • Saxo Bank - 9.7/10 Overall
  • Interactive Brokers - 9.9/10 Overall
  • CMC Markets - 9.6/10 Overall
  • TD Ameritrade - 9.3/10 Overall
    - 9.4/10 Overall
  • City Index - 9.3/10 Overall
  • XTB - 9.1/10 Overall
  • eToro - 8.8/10 Overall
9.9/10 Overall
Minimum Deposit£250.00
Tier-1 Licenses8
Tradeable Symbols (Total)19537

Year after year, IG has shown itself to be the best broker in the forex industry and a fantastic choice for forex traders. Highly trusted and regulated across the globe, IG delivers a wide variety of rich features, market research, and powerful trading tools. Fans of copy trading will appreciate IG’s seamless integration of trading signals into its web platform.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Visit Site

Join 239,000+ traders worldwide.

(Trading forex carries a high level of risk.)

Saxo Bank
9.7/10 Overall
Minimum Deposit0
Tier-1 Licenses7
Tradeable Symbols (Total)70000

Saxo Bank is a highly trusted broker that operates multiple banks and is regulated across the globe. Saxo Bank delivers an incredible cross-platform experience alongside powerful research and a vast selection of more than 60,000 symbols across multiple asset classes. It’s worth noting that minimum deposits at Saxo are steep.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
Interactive Brokers
9.9/10 Overall
Minimum Deposit$0
Tier-1 Licenses9
Tradeable Symbols (Total)8500

Interactive Brokers is a highly trusted broker regulated across the globe that delivers access to over 100 markets, including forex and CFDs. Its Trader Workstation (TWS) platform offers a variety of advanced trading tools for experienced traders, and IBKR's web-based platform is great for beginner forex traders.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
CMC Markets
9.6/10 Overall
Minimum Deposit$0
Tier-1 Licenses5
Tradeable Symbols (Total)12074

CMC Markets is a highly trusted multi-asset broker regulated in multiple Tier-1 jurisdictions. CMC's powerful Next Generation trading platform for web and mobile delivers a huge selection of markets and a fantastic user experience. CMC Markets also ranks highly for its high-quality research and educational content.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
TD Ameritrade
9.3/10 Overall
Minimum Deposit$0
Tier-1 Licenses5
Tradeable Symbols (Total)0

TD Ameritrade, part of financial conglomerate Charles Schwab, is a leader in platform technology and trusted by millions of investors globally with trillions in assets under its brands. Available exclusively to U.S. residents, TD Ameritrade's forex offering consists of just over 70 currency pairs, along with powerful research and trading tools.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
9.4/10 Overall
Minimum Deposit$100
Tier-1 Licenses7
Tradeable Symbols (Total)5500 is a highly trusted brand with a long history of offering forex in the U.S. and across the globe. offers its own flagship trading platforms for web and desktop, as well as the full MetaTrader suite. Though its pricing is higher than average, is a balanced choice for traders of all experience levels.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Visit Site

A Global Market Leader!

(Trading forex carries a high level of risk.)

City Index
9.3/10 Overall
Minimum Deposit£100.00
Tier-1 Licenses7
Tradeable Symbols (Total)13500

City Index, part of StoneX Group, is an award-winning, highly trusted broker with a long history of offering forex and CFDs across its global offices. City Index delivers a well-designed mobile trading app and a powerful web platform, as well as a large range of tradeable markets (though pricing is just average).

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
9.1/10 Overall
Minimum Deposit$0
Tier-1 Licenses2
Tradeable Symbols (Total)6010

XTB is a highly trusted brand with a proprietary platform (xStation 5) that delivers a rich selection of trading tools. XTB also offers CFDs for a wide range of asset classes, including multiple cryptocurrencies. Beginners will appreciate XTB's excellent educational content and the hundreds of lessons that are available via its Trading Academy.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
8.8/10 Overall
Minimum Deposit$10-$10,000
Tier-1 Licenses3
Tradeable Symbols (Total)3479

Best known for its copy trading platform suite, eToro is a highly trusted broker offering a large selection of cryptocurrency products, CFDs, shares, forex pairs, and a wide range of powerful trading tools. It’s worth noting that eToro is not a discount broker (though it offers zero-dollar commissions for U.S. stocks).

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)No
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No

Forex broker mini account comparison

Compare the best brokers that offer mini account options, side-by-side, with our data-driven comparison table:

Company Minimum Deposit Mini Trade Size (10,000 units) Average Spread EUR/USD - Mini Overall Rating Visit Site
IG logoIG £250.00 Yes 0.98 info 9.9 Visit Site
Saxo Bank logoSaxo Bank 0 Yes 0.8 info 9.7
Interactive Brokers logoInteractive Brokers $0 Yes 0.63 info 9.9
CMC Markets logoCMC Markets $0 Yes 0.51 info 9.6
TD Ameritrade logoTD Ameritrade $0 Yes 1.25 info 9.3 $100 Yes 1.4 info 9.4 Visit Site
City Index logoCity Index £100.00 Yes 0.74 info 9.3

Looking to compare two specific brokers, check out our compare tool.

Characteristics of Mini Accounts

Mini accounts can be good for new traders or those who are entering the world of online trading for the first time. The primary factors that distinguish mini accounts from the other account types are the following:

  • Minimum deposit amounts
  • Trade size
  • Maximum size of investment
  • Accessibility to certain features

Account features: Mini account holders usually gain access to the most basic account features. Traders typically gain access to more features when they level up to a Standard account type.

Minimum deposits: The capital requirements for mini accounts are usually smaller than those for other account types. It's not unusual to see the minimum deposit for mini accounts to be as low as £100 on some platforms, whereas VIP accounts on the same platform may have minimum deposit requirements ranging from a few thousand euros up to a few hundred thousand euros, depending on the broker.

Trade size: Mini accounts usually allow the trading of micro lots (i.e. 0.01 lots), with positions sizes not exceeding a few mini-lots. Mini account holders are usually not allowed to hold Standard lot positions and are also not allowed to execute full CFD (contracts for difference) contracts.

Advantages of mini forex accounts

One of the main advantages of a mini forex account is the reduced financial risk. With smaller lot sizes, your exposure to potential losses is limited. This can help beginner forex traders to learn how to trade forex peace of mind for beginners who are still learning the ropes of forex trading.

Additionally, mini forex accounts often offer flexible leverage options. Leverage allows traders to control larger positions with a smaller amount of capital. However, it's important to note that while leverage can amplify profits, it can also magnify losses. Therefore, it's crucial to use leverage responsibly and understand its implications before utilizing it in your trades.

schoolLearn the basics of forex trading

Beginner forex traders can learn more about risk management and leverage by checking out the full beginner's educational series at our sister site,

How to open a mini forex account: step-by-step guide

When choosing a broker for your mini forex account, look for reputable platforms that cater specifically to mini accounts. These brokers typically offer competitive spreads and low minimum deposit requirements. Conduct thorough research and read reviews from other traders to ensure you select a reliable broker that suits your needs.

To get started with a mini forex account, follow these steps:

  1. Educate yourself: Familiarize yourself with basic concepts and strategies related to forex trading. We recommend and BabyPips for educational content.
  2. Choose a reliable broker: Select a reputable broker that offers mini accounts.
  3. Open an account: Complete the necessary registration process and fund your account with an amount suitable for your risk tolerance.
  4. Practice on demo accounts: Many brokers offer demo accounts where you can practice trading without risking real money. Use this opportunity to familiarize yourself with the platform and test your strategies.
  5. Develop a trading plan: Create a well-defined trading plan that outlines your goals, risk management strategies, and entry/exit criteria.
  6. Start trading: Begin executing trades based on your analysis and adhere to your trading plan.

Remember, forex trading is risky. It's important to approach the forex market with caution and proper risk management. A mini forex account can be an excellent starting point for beginners, allowing you to gain valuable experience while minimizing potential losses – but using a mini or micro forex account does not eliminate risk.

Risks that come with mini forex accounts

A mini forex account allows traders to trade smaller lot sizes, typically 1/10th of a standard lot. This means that the margin requirements and initial investment are significantly lower compared to standard forex accounts. While this can be appealing for those with limited funds, it also exposes traders to certain risks.

Leverage: One of the main risks associated with trading mini forex accounts is increased leverage. With smaller lot sizes, traders often have access to higher leverage ratios, which amplify both potential profits and losses. While leverage can magnify gains in favorable market conditions, it can also lead to substantial losses if the market moves against you.

Higher spreads and fees: Some brokers offering mini forex accounts may have higher spreads or commissions compared to brokers catering to standard account holders.

Less opportunity to diversify: Trading with a smaller account size may limit your ability to diversify your trades effectively. With limited capital, you may not have sufficient funds available to spread across multiple currency pairs or implement risk management strategies effectively.

reportAlways choose a well-regulated broker

If you are considering a mini forex account, it's still crucial to choose a reputable broker that offers competitive pricing, reliable execution, and strong regulatory oversight. Check out our list of the best, most well-regulated forex brokers in the industry.

Tips for successful trading with a mini forex account

When it comes to trading with a mini forex account, there are several tips that can help you maximize your success. A mini forex account is a great option for traders who are just starting out or have limited capital to invest. Here are some tips to keep in mind:

  1. Choose the right broker: Make sure that your forex broker is reliable and licensed in reputable regulatory jurisdictions. Other factors to consider are minimum deposit requirements, competitive spreads, and reliable customer support.
  2. Start with a realistic amount of capital: Determine how much capital you can comfortably afford to trade with and open your mini forex account accordingly. It's important not to overextend yourself financially, especially when starting out.
  3. Practice risk management: Implementing proper risk management strategies is crucial when trading with a mini forex account. Set appropriate stop-loss orders and limit your exposure on each trade to protect your capital.
  4. Focus on quality over quantity: Instead of making lots of trades, focus on identifying high-quality trading opportunities that align with your strategy.
  5. Use leverage wisely: Leverage allows you to control larger positions with smaller amounts of capital, but it also amplifies both profits and losses. Use leverage judiciously and be aware of its potential risks.
  6. Stay informed and educated: Keep up-to-date with market news, economic indicators, and relevant events that may impact the currency markets. Continuously educate yourself about different trading strategies and techniques.
  7. Maintain discipline and patience: Successful trading requires discipline and patience. Stick to your trading plan and avoid impulsive decisions.

Remember that success in trading takes time and practice; it's important not to get discouraged by initial setbacks or losses when using a mini forex account. With dedication, knowledge, and careful execution of trades, you can gradually build your skills as a trader while managing risk effectively.

Conclusion: Is a mini forex account right for you?

If you are new to forex trading or have limited funds to invest, a mini forex account may be the right choice for you. A mini forex account is designed for traders who want to start with smaller amounts of capital and trade in smaller lot sizes.

Choosing the best forex broker for small accounts is crucial when considering a mini forex account. Look for brokers that offer competitive spreads, low minimum deposit requirements, and reliable trading platforms. It's also important to consider factors such as customer support, educational resources, and regulatory compliance.

In conclusion, if you have limited funds or are new to forex trading, a mini forex account can provide an accessible entry point into the market. No matter what account type you use, however, it's essential to carefully manage your risk while gaining experience as a forex trader. 2023 Overall Rankings

To recap, here are our top forex brokers for 2023, sorted by Overall ranking.

Company Overall Rating Minimum Deposit Average Spread EUR/USD - Standard Trust Score Tradeable Symbols (Total) Read Review Visit Site
IG logoIG 9.9 £250.00 0.98 info 99 19537 IG Review Visit Site
Saxo Bank logoSaxo Bank 9.7 0 0.9 info 99 70000 Saxo Bank Review
Interactive Brokers logoInteractive Brokers 9.9 $0 0.63 info 99 8500 Interactive Brokers Review
CMC Markets logoCMC Markets 9.6 $0 0.51 info 99 12074 CMC Markets Review
TD Ameritrade logoTD Ameritrade 9.3 $0 1.25 info 99 0 TD Ameritrade Review 9.4 $100 1.4 info 99 5500 Review Visit Site
City Index logoCity Index 9.3 £100.00 1.4 info 99 13500 City Index Review
XTB logoXTB 9.1 $0 1.07 info 96 6010 XTB Group Review
eToro logoeToro 8.8 $10-$10,000 1 info 90 3479 eToro Review
Swissquote logoSwissquote 8.8 $1000 N/A info 99 472 Swissquote Review
AvaTrade logoAvaTrade 8.7 $100 0.92 info 94 1260 AvaTrade Review
FXCM logoFXCM 8.5 Starts from $50 1.38 info 95 440 FXCM Review
Plus500 logoPlus500 8.6 €100 0.8 (August 2021) info 99 5500 info Plus500 Review 8.7 $20 info 0.67 info 87 3119 Review
XM Group logoXM Group 8.4 $5 1.6 info 88 1429 XM Group Review
Pepperstone logoPepperstone 8.4 $200 0.77 info 95 2342 Pepperstone Review
OANDA logoOANDA 8.5 $0 1.57 info 93 1744 info OANDA Review
Admiral Markets logoAdmiral Markets 8.5 $100 0.8 info 93 6942 Admiral Markets Review
FP Markets logoFP Markets 8.3 $100 AUD 1.1 info 87 10000 FP Markets Review
IC Markets logoIC Markets 8.1 $200 0.62 info 84 3583 IC Markets Review 8.1 $100 1.9 info 96 2179 Review
FxPro logoFxPro 8.1 $100 1.51 info 90 2249 FxPro Review
Tickmill logoTickmill 8.1 $100 0.51 info 83 725 Tickmill Review
Fineco Bank logoFineco Bank 8.0 $0 N/A info 95 126 Fineco Bank Review
BlackBull Markets logoBlackBull Markets 8.0 $0 0.827 info 77 26000 BlackBull Markets Review
DooPrime logoDooPrime 7.8 $100 N/A info 83 10000 DooPrime Review
Vantage logoVantage 8.0 $50 1.30 info 90 1000 Vantage Review
BDSwiss logoBDSwiss 7.7 $100-$5000 info 1.6 info 76 1081 BDSwiss Review
HFM logoHFM 7.9 $0 1.2 info 86 3500 HFM Review
FlowBank logoFlowBank 7.7 $0 N/A info 80 408600 FlowBank Review
HYCM (Henyep Capital Markets) logoHYCM (Henyep Capital Markets) 7.9 $20 0.6 info 88 1199 HYCM Review
Trading 212 logoTrading 212 7.7 €10 N/A info 77 9732 Trading 212 Review
ThinkMarkets logoThinkMarkets 7.8 $0 info 1.1 info 92 4000 ThinkMarkets Review
Eightcap logoEightcap 7.5 $100 1.0 info 85 736 Eightcap Review
Trade Nation logoTrade Nation 7.6 $0 0.6 85 601 Trade Nation Review
Moneta Markets logoMoneta Markets 7.5 $50 1.27 info 72 1016 Moneta Markets Review
VT Markets logoVT Markets 7.3 $100 1.2 info 70 1000 VT Markets Review
TMGM logoTMGM 7.6 $100 0.96 info 83 12000 TMGM Review
ACY Securities logoACY Securities 7.4 $50 1.2 info 75 2200 ACY Securities Review
easyMarkets logoeasyMarkets 7.3 $50 0.9 info 80 199 easyMarkets Review
RoboForex (RoboMarkets) logoRoboForex (RoboMarkets) 7.3 $100 1.4 info 71 12000 Roboforex (RoboMarkets) Review
IronFX logoIronFX 7.2 $50 1.2 83 340 IronFX Review
Exness logoExness 7.0 $1 0.9 info 71 112 Exness Review
Spreadex logoSpreadex 7.2 $0 0.78 info 71 2000 Spreadex Review
IFC Markets logoIFC Markets 7.2 $1 1.44 info 67 630 ATFX Review
Trade360 logoTrade360 7.2 $250 N/A info 76 1062 Trade360 Review
Axi logoAxi 7.1 $0 N/A info 81 175 Axitrader Review
GKFX logoGKFX 7.0 $0 N/A info 65 354 GKFX Review
Vestle logoVestle 7.0 -1 N/A 78 750 Vestle Review
Octa logoOcta 7.2 $25 0.9 info 70 229 OctaFX Review
FXOpen logoFXOpen 7 $100 N/A info 80 87 FXOpen Review
TeleTrade logoTeleTrade 7.1 $100 N/A 71 500 Teletrade Review
FXPrimus logoFXPrimus 7.0 $100 N/A info 71 140 FXPrimus Review Visit Site
Forex4you logoForex4you 6.9 $0 N/A info 61 150 Forex4you Review
GBE brokers logoGBE brokers 6.8 $500 N/A info 71 500 GBE Brokers Review
Alpari logoAlpari 6.8 $20 N/A info 68 105 Alpari Review
TopFX logoTopFX 6.7 Depends on payment method N/A info 67 655 TopFX Review
Libertex (Forex Club) logoLibertex (Forex Club) 6.7 $10 N/A info 73 300 Libertex Review
LegacyFX logoLegacyFX 6.7 $500 N/A 67 425 LegacyFX Review 6.6 $5 N/A 69 117 FXGT Review
ATFX logoATFX 6.5 $500 N/A info 73 150 ATFX Review
Xtrade logoXtrade 6.5 $250 N/A info 80 142 Xtrade Review
xxxRIP UFX logoxxxRIP UFX 6.6 $100 3 info 67 619 UFX Review

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Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.

About the Editorial Team

BrokerNotes is powered by a dynamic team of writers, researchers, content strategists, data analysts, editors, traders, and investors. We are obsessed with creating the best finance content on the internet, and we are dedicated to helping our readers make great choices for their money.

Steven Hatzakis
Steven Hatzakis

Steven Hatzakis is the Global Director of Research for and Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

Joey Shadeck
Joey Shadeck

Joey Shadeck is the Content Strategist and Research Analyst for and He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.

John Bringans
John Bringans

John Bringans is the Senior Editor of and An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.