The best low minimum deposit forex brokers
Three brokers in our ranking let you open an account with no minimum deposit: Pepperstone, Interactive Brokers and OANDA (on its standard account). Pepperstone is our top pick because it pairs a $0 minimum with top-tier regulation and low published costs. XM asks for just $5 and IG for $50 by card. A low minimum is only useful if the entity holding your money is well regulated, so we flag the caveats for each. Figures were verified November 2026.
Our picks
- Pepperstone ($0): no minimum, ASIC/FCA/CySEC/DFSA licences, 1.1-pip Standard average.
- Interactive Brokers ($0): no minimum, the broadest top-tier regulation we track, very low commissions.
- OANDA (no minimum on standard): no minimum on the standard account, NFA-regulated for US residents.
- XM ($5): the lowest non-zero minimum, but most international clients join the Belize entity.
- IG ($50 by card): low entry with top-tier regulation; $250 for IG US.
Minimum deposit comparison
| Broker | Minimum deposit | Score | Regulation tier | Entity caveat | US clients |
|---|---|---|---|---|---|
| Pepperstone | $0 | 92/100 | Top-tier | Some international sign-ups placed with the Bahamas entity | No |
| Interactive Brokers | $0 | 90/100 | Top-tier | NFA fine of $250k in 2023 for retail FX supervisory failures | Yes |
| OANDA | No minimum on standard; $10,000 for US core pricing | 86/100 | Top-tier | Lower-cost pricing needs $10,000 | Yes |
| XM | $5 | 80/100 | Mixed | xm.com operated by the Belize entity, leverage up to 1000:1 | No |
| IG | $50 by card; $250 for IG US | 91/100 | Top-tier | No current published average spread | Yes (IG US) |
1. Pepperstone: $0 minimum with top-tier regulation
Pepperstone has no minimum deposit and is licensed by ASIC, the FCA, CySEC and the DFSA, where retail leverage is capped at 30:1. Small accounts can use the Standard account, which averaged 1.1 pips on EUR/USD in August 2026, or the Razor account at 0.1 pips plus $7 round turn. Platforms include MT4, MT5, cTrader and TradingView. It scores 92/100.
Caveat: it also has an entity regulated by the SCB in the Bahamas, and some international sign-ups may be placed there, with fewer protections and higher leverage. It does not accept US residents.
2. Interactive Brokers: $0 minimum and very low costs
Interactive Brokers has a $0 minimum and is regulated by the SEC, CFTC, NFA and FINRA in the US, plus the FCA, Central Bank of Ireland, ASIC, CIRO, MAS, SFC and SEBI. Forex trades use interbank quotes plus 0.20 basis points per side, about $4 to $5 round turn per 100,000 units. It scores 35/35 for regulation and 90/100 overall, and it accepts US clients.
Caveat: it has no MT4 or MT5, and its platforms have a steep learning curve. It was fined $250,000 by the NFA in 2023 for retail FX supervisory failures.
3. OANDA: no minimum on the standard account
OANDA has no minimum on its standard account and is regulated by the CFTC and NFA for US clients, plus the FCA, ASIC, MAS, CIRO, FSA Japan and KNF. It offers OANDA web and mobile platforms and TradingView, and has been owned by the FTMO group since December 2025. It scores 86/100.
Caveat: a small account pays the spread-only price, which averages 1.4 pips on EUR/USD for US clients. The cheaper core pricing ($14 round turn) needs $10,000.
4. XM: $5 to start
XM's $5 minimum is the lowest non-zero figure among the brokers we rank. It offers MT4, MT5 and its own app, 1,400+ instruments, and a CySEC-regulated EU entity with 30:1 leverage. It also holds DFSA and FSCA licences. It scores 80/100.
Caveat: xm.com is operated by XM Global Limited, regulated in Belize, with leverage up to 1000:1, and that is where most international clients sign up. Standard spreads start at 1.6 pips, and dormant accounts are charged monthly inactivity fees, which can eat into a very small balance.
5. IG: $50 with the broadest licensing
IG's minimum is $50 by card, or $250 for IG US. It was founded in 1974, is part of a FTSE 100-listed group, and is regulated by the FCA, BaFin, ASIC, FINMA, MAS, DFSA, JFSA, FSCA and, for IG US, the CFTC and NFA. Platforms include IG web and mobile, TradingView, MT4, MT5 and ProRealTime. It scores 91/100, but its minimum is higher than the others here, so it ranks fifth on this page.
Caveat: forex is spread-only from 0.6 pips, and the latest published EUR/USD average is from 2021.
A worked example: trading a $100 account
With $100 and a rule of risking 1% per trade, you can lose $1 on a trade. On EUR/USD, a micro lot (1,000 units) is worth about $0.10 per pip, so with a 10-pip stop you would trade one micro lot ($0.10 × 10 = $1). At XM's 1.6-pip starting spread, that trade costs at least $0.16 to open and close; at Pepperstone's 1.1-pip Standard average, about $0.11. Small, but on a $100 balance, ten trades at XM's minimum spread cost at least $1.60, or 1.6% of the account. Our position size calculator does this for any balance and stop.
How we chose
For this page we ranked our editorial brokers by their published minimum, lowest first, and used the WizardTrader score to order brokers with the same minimum. We then flagged regulation and entity caveats from each broker's regulation note. Brokers with higher minimums (Tickmill and Eightcap at $100, IC Markets at $200) were left out. See the methodology for how scores are built.
What to check before you open an account
- The entity behind the low minimum. A $5 account at an offshore entity has fewer protections than a $0 account at an ASIC, FCA or CySEC entity.
- Fees that hit small balances. Inactivity fees and withdrawal charges matter more on $50 than on $5,000.
- Leverage. Up to 1000:1 can wipe out a small account on a single move. Read leverage and margin explained.
- Whether you can trade small enough. Check micro-lot availability and use the pip value calculator.
New to trading? Start with forex trading for beginners.
Sources
Provider data on this page was verified November 2026 against these sources:
Pepperstone
- Pepperstone: licensing and regulation
- Pepperstone: trading accounts
- Pepperstone: who we are
- Pepperstone Financial Services Guide (PDF)
Interactive Brokers
OANDA
- OANDA: regulatory disclosures
- OANDA: pricing
- OANDA: spreads and commission
- Finance Magnates: FTMO closes OANDA deal
XM
IG
Trading involves substantial risk of loss and is not suitable for everyone. Leveraged products can lose money quickly. Past performance does not guarantee future results. This page is general information, not financial advice. Rankings are editorial and not paid. Read our risk disclaimer and advertiser disclosure.