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Depending on the kind of broker you choose, it usually needs some investment to make money in forex trading. Most Forex brokers have reasonable requirements toward account opening. Of course, there are always some who have higher or lower account minimums. In the given post, you will get a better understanding of what to expect from the leading brokerage companies on the market.
XM.com
XM.com is a decent broker with good educational materials, reasonable transaction fees, and flexible account options. The special thing about XM.com is its devotion to superior trade execution. More than 98% of all trading operations are executed in less than one second. Thus, XM.com managed to complete 150 million trades without requote or rejection. Once registered on the broker’s website, the minimum deposit amount is estimated at $5 for Micro and Standard accounts, while Zero accounts need a minimum deposit of $100.
HotForex
In spite of being a new player in the retail forex market, HotForex has managed to expand its customer base to more than 2,000,000 live accounts. HotForex has recently turned into HF Markets for EU customers. A variety of accounts made HotForex stand out from the crowd. Thus, you can easily find an account type that addresses your needs, whether you are a beginner or professional. Every trader and investor has an opportunity to open up to 5 live accounts in order to take advantage of the benefits of each type. In addition, HotForex invites you to request particular account features if you need extensive customization. HotForex provides some of the most generous promotions including a 100% reward on your first deposit up to $50,000. Remember that all bonuses cannot be accessed by European clients per current EU policies.
IC Markets
IC Markets is one of those Fore brokers that do not charge a deposit fee. This is nice because the broker won't take anything from your deposits so that you just need to calculate the costs charged by the bank you send the money through. While there is no deposit charge at IC Markets, the available deposit options are also crucial for potential users.
IC Markets require a minimum deposit in order to address their initial costs related to the development of a new account and profitability. The bigger deposit you make, the higher your chances to trade are. Thus, the minimum deposit at IC Markets is $200. This is considerably low, while most CFD brokers usually require around $2,000.
FxPro
FxPro is a Forex broker administered by the Financial Conduct Authority in the UK. FxPro is focused mainly on forex trading and spread betting activities, which makes it the best forex broker. It also enables a comprehensive accessibility to shares, commodity, indices and metal markets. Once you decide to create an account on the broker’s website, you will need to place an account. The minimum deposit for FxPro is currently estimated at $100. The unique features it has are offered in a professional and efficient way, which provides all traders with an adequate approach to trading. The major features that give FxPro a plus involve the transparency and reliability, unique trading instruments, numerous support languages, and a readily available FxPro demo account.
Exness
Exness is an international award-winning Forex broker, having been on the market since 2008. This broker is administered by FCA and CySEC. Traders and investors of the Exness broker aim to enjoy great trading conditions such as flexible leverage, low spreads, fast and easy withdrawals, low minimum account requirements, as well as efficient 24/7 customer support. When it comes to account opening, customers have to know about the deposit placement limitations. Exness is one of not many online brokers having the minimum deposit of $1 with low spreads for the Cent and Mini accounts. The mini account is usually developed for newcomers to the FX market, so they can gain trading experience and prepare for the “big” games.
Why Should You Sign Up for one of the Above-Mentioned Brokers
Forex brokers are always ready to provide traders and investors with all the specific trading needs, as well as guaranteed financial safety. Forex brokers’ stability is based on the few jurisdictions that manage their operations. Another crucial thing to pay attention to is that trading securities involve exposure to an essential amount of risk. It has been stated that the educative materials applied, approaches, indicators and strategies provide profitability. So, there is no need for you to be nervous. You, as a trader and investor, should know that every risk is a serious opportunity. As long as you can place the minimum deposit, you get closer to your financial goals. Things are quite easy, so don’t miss your chances.
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