The size of the minimum deposit is an important criterion for choosing a broker for novice traders. The lower the minimum deposit the better it is for a beginner, as it provides an opportunity to test trading conditions without investing a large amount. Analysts at the Traders Union, also known as TU, created a rating of brokerage companies with low requirements for the minimum deposit. It can be found in the research titled Open A Forex Trading Account with Minimum Deposit published on the Traders Union website.
Brokers with the lowest minimum deposit in 2022 according to Traders Union
TU experts selected 10 companies offering new clients to start trading with a small amount, while still being highly reliable and ensuring top-quality of service.
Minimum deposit requirement of brokers from the Traders Union rating:
- $1 — Exness, InstaForex, Interactive Brokers, Admiral Markets, Forex4You, FxOpen;
- $5 — XM Group;
- $10 — RoboForex.
The rating also includes companies that do not have any minimum deposit requirements. These are Oanda and AMarkets. You can deposit any amount you are comfortable with in order to start trading with them.
Algorithm for creating the rating | How TU analysts select brokers
In order to create a list of companies based on a certain criterion, Traders Union experts follow a universal mechanism:
- Step 1 — selection of brokers that meet the goal of the research. In this case, Forex brokers with the lowest minimum deposit were selected;
- Step 2 — a comprehensive evaluation of the companies chosen at the first stage based on more than 100 criteria. These include reliability and financial stability, trading conditions, quality of order execution, the response time of customer support service, etc. Also reviews of real clients published on the TU website are analyzed;
- Step 3 — entering data to a special program (software). It processes information, assigns a score to each broker based on a built-in script, and then forms the rating.
Ratings are updated monthly to ensure that TU website visitors always have up-to-date information on the brokerage services market.
How does Traders Union help achieve success in the Forex market?
Traders Union mission is to provide quality market analytics and useful information to traders. Creation of broker ratings is just one task of TU experts. They are also responsible for filling out profiles of different companies, including Forex, stock, binary options brokers, cryptocurrency exchanges, and digital banks. Pepperstone Forex is one of over 400 broker profiles available on the Traders Union website.
In addition to large amounts of useful information, members of the community have access to legal support and financial rewards in the form of rebates for the spread. The Traders Union also has one of the largest forums for communication of Forex traders.