HERE IS A LIST OF FOREX BROKERS THAT OFFER FOREX ACCOUNTS FROM AS LITTLE AS $1
Forex Brokers With $1 Minimum Deposit
Brokers in the financial market that offer 1$ dollar as the minimum deposit are attractive to traders who can't spare large sums of money to invest. Additionally, low minimum deposits allow beginner traders to learn and experiment by minimizing their risk. Furthermore, the clients can spread the risk across various brokers due to affordability.
Below, we are going to look at the best forex broker with a $1 minimum deposit in South Africa.
Forex Brokers With $1 Minimum Deposit in South Africa
HFM
HF Markets, formerly known as HotForex, was launched in 2010 and has since established a strong presence in South Africa, amassing one of the largest client bases of any broker in the country. Its appeal to traders lies in a variety of features, including a no minimum deposit requirement on most accounts.
On this broker site, there is no minimum deposit on the Premium, Cent, and Zero accounts. This means you can start with as little as $1. Only the Pro and Pro-plus accounts require a slightly higher minimum deposit.
The Premium and Cent accounts offer spreads starting at 1.2 pips with no commission on forex trades. The Pro account provides spreads as low as 0.5 pips on major currencies, also with no commission. The Pro-Plus account improves this further, with spreads starting at 0.2 pips* and no commission. The Zero account, however, charges a $0.03 commission per 1,000 lot traded but offers spreads from 0.0 pips.
The variety of market products available to trade is another attractive feature of this broker. Traders on the HF Markets broker site have access to CFDs on forex currency pairs, metals, indices, energies, stocks, commodities, bonds, ETFs, and even cryptocurrencies. The trading platforms available to use include MT4, MT5, and the HFM Platform.
Regulation is a top priority for many traders, and HFM meets this need effectively. TThe broker is overseen by several regulatory bodies globally, with significant oversight from the FSCA in South Africa, underscoring its commitment to compliance and investor protection. It is also regulated by the CMA in Kenya, the FCA in the UK, the CySEC in Cyprus, and the DFSA in the DIFC.
Pepperstone
Pepperstone does not have a minimum deposit requirement. Clients can therefore deposit any amount and start trading. This means they can start with as little as $1. Notably, Pepperstone is regulated by well-respected organizations in multiple jurisdictions. These include the CMA in Kenya, the CySEC in Cyprus, the FCA in the UK, the BaFin in Germany, and the ASIC in Australia. Such regulations give Pepperstone a good reputation in the market. Furthermore, clients can invest in over 1200 CFDs on forex, shares, indices, ETFs, commodities, and currency indices.
On top of that, Pepperstone offers various platforms which include MT4, MT5, TradingView and cTrader. These trading platforms give Pepperstone some of the fastest order execution times in the market. Clients accessing the company’s services from South Africa enjoy order execution times averaging less than 60 milliseconds. The spreads on the standard account start from 1.0 pips with no commission required and can go as low as 0.0 pips on the raw account with a low commission of $3.5 per side per lot required.
XTB
XTB does not determine the amount of the minimum initial deposit. This means you can open an account and start trading from any amount. This is very attractive to South African traders. Moreover, with XTB, clients would be trading with a regulated broker. XTB has regulations from well-respected organizations that include the FSCA in South Africa, the CySEC in Cyprus, and the prestigious FCA in the UK.
Spreads on XTB’s standard account start as low as 0.5 pips for major currency pairs like the EURUSD pair. The maximum leverage available to South African traders is fairly high at 1:500. The trading platform available to clients is the in-house-built xStation which is available for mobile users on both Android and iOS.
AXI
Axi also does not have a minimum deposit requirement. Clients can, therefore, invest any amount they have and start trading with this broker. This means they can start with just 1 USD. Here, clients can trade CFDs on forex, gold and silver, oil, commodities, indices, and cryptocurrencies. Even with a small investment, clients can still diversify their portfolios on this broker site.
In terms of regulations, this company has licenses and authorization from a couple of organizations including the CySEC in Cyprus, the ASIC in Australia, and the FCA in the UK. This regulatory status, together with Axi’s longevity in the market, gives it some credibility among traders.
Further, Axi provides a trading platform that is industry standard and simple enough for both beginner and advanced traders. MT4, offered by Axi, is one of the most popular trading platforms in the world right now. With this platform, traders receive 4 different trading systems, several analytical functions, trading signals, and copy trading capabilities.
Finally, let’s look at the fees charged by this broker. Axi offers low spreads in the market that start from 0.9 pips, 0.0 pips and 0.0 pips for the standard, pro, and elite accounts respectively. There is no commission on the standard account. However, the Pro account charges a commission of $7 per round trip and the Elite account charges a $3.50 commission per round trip.
InstaForex
Trading Forex and CFDs entail risk. Your capital is at risk.
InstaForex is one of the brokers that accept South African traders and has a minimum deposit of $1. Unfortunately, this company is not regulated by the FSCA in South Africa and we do not have any personal experience with it. As such, we cannot vouch for its credibility. However, the company does have regulations from the CySEC in Cyprus. It also has regulations from the FSC, the SIBA and the BVIFSC. InstaForex advocates full transparency and ethical practices across the online trading industry.
The trading platforms that Instaforex offers include MetaTrader 4 and 5, Multiterminal and web trader. The MetaTrader platforms contain everything a trader needs, alongside advanced trading infrastructure like charts and automation tools. Clients can use either one of the MetaTrader platforms or choose another platform that best suits their needs.
With its wide variety of trading instruments, clients can choose to invest in a variety of global markets. These include forex, shares, indices, metals, oil and gas, cryptocurrency, instafutures and commodity futures. With such diversity, clients are able to spread their investments across various markets to reduce risk. Investing with this broker features some fairly high spreads compared to some competitors. The standard account on this broker site features spreads that only go as low as 3.0 pips.
While there are many other brokers with zero or 1 USD minimum deposit, we could not find any more that would be reputable. However, there are other brokers that require low deposits of $5, and $10 with similar or even better trading conditions. Let’s look at some of those below.
Forex Brokers With A $0-10 Minimum Deposit
Exness
Trading Forex and CFDs entail risk. Your capital is at risk.
Exness accepts a minimum deposit of 10$ which is also relatively low in the market. With licenses and regulations from leading international bodies, Exness stands out among its competitors. This company is regulated by the the FSCA in South Africa, the CySEC in Cyprus, and the FCA in the UK. As such, traders can expect fair trading conditions from Exness as required by these regulatory commissions.
In addition, Exness has several trading accounts to choose from. There are two standard accounts one of which is a standard cent account that allows investors to trade on a cent-based model. These accounts are primarily spreads-based with spreads starting from 0.3 pips. Additionally, there are three professional accounts with spreads starting from 0.0 pips and different commissions involved.
Further, Exness supports the diversification of portfolios by providing a wide range of trading instruments. Clients can trade various global markets including forex, stocks, indices, energies, metals, and cryptocurrencies. Some of the trading platforms offered by Exness include Meta Trader 4, MetaTrader 5, Exness Terminal, and Exness Trade App. This gives clients the freedom to choose a platform that best suits their needs while investing.
XM.com
XM offers as little as 70 ZAR/5$ as the minimum deposit. For most parts of the world, including South Africa, this is affordable for both beginner and experienced traders. This broker is regulated by world-class regulators in Cyprus by the CySEC, and in Australia by the ASIC. Such regulations give clients a sense of safety when trading financial markets.
In terms of trading fees, XM offers some of the tightest spreads in the market. These start from as low as 0.6 pips for major currency pairs on the Standard account. XM avails over 1,500 trading instruments for traders to speculate on. Clients can trade instruments from the forex, stocks, indices, shares, energies, cryptocurrencies, and precious metals markets.
IQ Option
Trading Forex and CFDs entail risk. Your capital is at risk.
IQ Option accepts a minimum deposit of 10$, which is available for South African traders. With this small investment, clients can start trading a variety of market instruments including CFDs on forex, cryptocurrencies, commodities, stocks, indices, and ETFs. Additionally, IQ Option offers spreads as low as 1.0 and financial leverage of 1:500 to South African traders.
Besides that, IQ Options offers an advanced trading platform called IQ Option. It is a proprietary platform available on the web, as a desktop application, and as a mobile application. It offers clients a seamless trading experience with powerful analytical tools to help clients on their investment journey.
Libertex
Libertex has a low minimum deposit that starts from 10$ which is affordable for South African traders who have access to a fairly high maximum financial leverage of 1:999.
Furthermore, Libertex has various trading platforms that include MetaTrader 4 and 5. These are rightfully considered the best trading platform that both experienced and advanced traders can easily use. Libertex trading instruments range from stocks, crypto, forex, metals, indices, and oil and gas. The spreads on this broker site can go as low as 1.0 pips for major currency pairs. They can go even lower starting from 0.0 pips for professional clients.
Advantages of Low Minimum Deposit
Evidently, there is a crucial place for forex brokers with low minimum deposits in the market. South Africa is one of the most active and growing jurisdictions in the forex market with new traders entering the market every angle day. Such traders are in dire need of the advantages offered by brokers that accept small minimum deposits.
Nonetheless, even such brokers need to be reputable with regulations from world-class organizations. On top of that, the broker you choose should offer you fair trading conditions with low fees and fast order executions.