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Forex brokers with a minimum deposit of $50

Retail forex brokers require a low minimum deposit to start using a live trading account. It’s also known as an initial deposit. The minimum deposit depends on which forex broker you use.

Trading accounts with low initial deposits are the best accounts for beginner traders. You can learn how to trade in real time and experiment with your trading strategy, but you minimise the risk of losing a lot of your own money because you trade with small lot sizes.


Founded 2011

Regulated IFSC

Headquarters Belize

Tradeable assets Currencies, commodities, indices

Trading platform MT4

Trading desk NDD

Minimum deposit $50



Founded 2019

Regulated CySEC, FSA(SC)

Headquarters Seychelles

Tradeable assets Currencies, commodities, indices, stocks, crypto, futures

Trading platform MT4, MT5

Trading desk DMA, ECN, MM

Minimum deposit $50



Founded 2005

Regulated ASIC, CySEC

Headquarters Australia

Tradeable assets Currencies, commodities, indices, stocks, crypto, futures

Trading platform IRESS, MT4, MT5, WebTrader

Trading desk No dealing desk (NDD)

Minimum deposit $100

Best for Multiple trading platforms



Founded 2008

Regulated CySEC

Headquarters Cyprus

Tradeable assets Currencies, indices, stocks, crypto

Trading platform MT4, MT5

Trading desk ECN

Minimum deposit $50



Founded 2011

Regulated SVGFSA

Headquarters St Vincent and the Grenadines

Tradeable assets Currencies, commodities, indices, stocks, crypto

Trading platform cTrader, MT4, MT5

Trading desk ECN, STP

Minimum deposit $50

Best for Beginner and professional forex traders



Founded 2015

Regulated FCA, SCB

Headquarters United Kingdom

Tradeable assets Currencies, Commodities, Indices, Stocks, Crypto, Futures

Trading platform MT4

Trading desk DD, ECN, STP

Minimum deposit $50


Why low minimum deposits are good for beginners

When beginner traders are ready to go live and start trading forex with their own money, a low minimum deposit is the way to go. Regardless of whether you’ve been on a forex trading course and you’ve spent hours practicing on a free demo account, you won’t understand how factors like emotions and slippage can affect how you trade forex until you’re using your own money.

This is why it’s vital to start small with a low initial deposit when going live with a forex trading account. It gives you time to test your trading plan and rein in your emotions as well as gain confidence in your trading strategy.

Trading forex with an account with a low minimum deposit is basically learning to walk before you run. It allows you to develop the discipline of placing precise orders without your emotions getting in the way and practicing using risk management tools so you don’t lose money on a panicked response.

Why these forex brokers are best for beginner forex traders

The forex brokers we’ve listed above are best for beginner forex traders because they are regulated by at least one Top-tier authority. They are considered to be transparent, reliable and are safe to use by forex traders in Africa. These retail forex brokers provide a significant level of protection and they operate within policies, guidelines and standards stipulated by the regulatory authority in each jurisdiction.

In fact, traders of all levels of experience should only buy and sell currency pairs through a licensed and regulated broker. Forex trading is one of the most risky asset classes to trade so why make it even more riskier by trading with an un-regulated broker?

Why it’s important to use a regulated forex broker

You can protect yourself by choosing a forex broker that is strictly monitored by a regulatory authority. These authorities exist to prevent and investigate fraud in the non-banking sector, keep activities transparent and to make sure forex broker clients are treated fairly, their funds are safe and data is secure.

Avoid using a retail forex broker that is not regulated. The forex market is the largest and most liquid asset in class and it does attract it’s fair share of fraudulent brokers and forex scams. This includes unwarranted commissions, loose spreads, hidden terms and conditions and withdrawal restrictions.

If you use an un-regulated broker and you have a problem, you have no recourse because there is no regulatory authority that you can report the issue to and get help. You don’t need to take the risk of trading with an unregulated broker because there are many licensed brokers who are well-established and offer a trustworthy, reliable service.

Benefits of low minimum deposits for forex trading

The main benefit of opening an account with a forex broker that offers a low minimum deposit is you can learn how to trade with a live account in real time without the risk of losing too much of your own money.

Starting to trade with a low amount means you can test the trading experience with the retail forex broker and experiment with your trading strategy without staking too much capital in the beginning. It’s a good idea to open a trading account with a low minimum deposit with several brokers and then you can choose the forex broker that you felt delivered the best trading conditions.

What is the difference between a Micro, Mini and Standard accounts for forex trading?

Beginner traders migrate to a Micro, Mini or Standard accounts after fine-tuning their trading style on a free demo account. The main difference between the three types of trading accounts is:

  • Micro and Mini accounts cater for beginner traders who want to trade forex but they don’t want to risk losing a lot of money; these accounts require very low (sometimes zero) initial deposit and you trade with very small lots.
  • Standard accounts are used by more experienced forex traders. They generally require higher minimum deposits and you trade with larger lots.

Lot sizes for the different types of forex accounts

1 micro lot = 1 000 currency units

1 mini lot = 10 micro lots = 10 000 currency units

1 standard lot = 10 mini lots = 100 micro lots = 100 000 currency units

What is a Micro and Mini account for forex trading?

Micro and Mini trading accounts allow you to trade with a small lot size. For example, the mini lot size is one-tenth of a standard lot of 100 000 units, or 10 000 units. This means one pip of a currency based in US Dollars is equal to $1 as opposed to $10 for a Standard lot.

A smaller lot size is best for beginners because you can learn and experiment with the broker’s trading platform while managing your risk. Smaller lot sizes give you greater control over the size of positions which is important when you’re a beginner trader.

The disadvantage of a Micro or Mini account is you won’t make larger profits and you certainly won’t make a living trading an account with a low minimum deposit. It really exists as an entry-level account for forex traders going live for the first time or experienced traders testing trading strategies.

What is a Standard account for forex trading?

A Standard account is the most common entry-level account for beginner and intermediate forex traders. They offer potential for genuine profits because of the larger deposit size and access to higher leverage. You also get more services from the broker.

Many brokers don’t offer a Mini or Micro account. It’s more common for brokers to offer a Standard account with a lower deposit but not as low as a Micro or Mini account. Beginner traders should choose a forex broker that offers a Standard account with a reasonable minimum deposit for the same reason as discussed; to test your trading skills while minimizing the risk of losing funds in your trading account.

The disadvantage of Standard accounts for beginner traders is the potential for significant losses. This is because larger capital requirements give you access to higher leverage.

Why free demo account are recommended for beginner forex traders?

Beginner traders are encouraged to start trading with a free demo account. This means you can learn to trade and get to know how a trading platform works with virtual money, rather than real money. This is the best way to avoid losing a lot of your own money in the beginning while you are learning how to trade forex.

While a demo account is a good option for beginner forex traders, it doesn’t give you a real trading experience. When you have nothing to lose financially, you can trade without letting your emotions get in the way. When you trade with your own money, that is when emotional trading happens and traders can lose a lot of money in volatile trading conditions.

Acquaint yourself with forex trading on a demo account and then move onto a Mini or Micro account with a low initial deposit. Once you feel confident with the trading platform and you’ve fine-tuned your trading style, you can move onto trading with a Standard account that requires a higher minimum deposit.


Forex is a complex instruments and trading forex involves a high risk of losing money rapidly due to leverage. You need to understand how forex trading works and decide whether you can afford to take the risk of losing money on trade orders that do not go your way.

Forex Trading Africa annually reviews brokers regarded as the best in the world and provides information on the products, fee structure, market analysis and service they offer. We aim to provide important information for you to base your decisions on when choosing the right forex broker for your needs.

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