Even if you’re an experienced trader, sometimes you just need to check out what a certain broker has to offer or test a few strategies without investing too much.
Novice traders also want to start trading on real markets without spending too much money at first. Luckily, many brokers allow users to trade with very small deposits starting from $1, but you need to find the best conditions to make a rational choice here. To help you out, the Traders Union team has analyzed such brokers and found the best one.
Crucial characteristics
The experts have evaluated several crucial characteristics of each analyzed broker. Reputation is the most important of them: if a broker is known for shady operations or scams in the past, it shouldn’t be trusted. Security is another crucial thing: a broker with advanced security measures makes sure your money won’t disappear one day. Other criteria include basic trading conditions, bonuses, investment options, and withdrawal conditions.
Best $1 Forex broker
With all these criteria in view, it seems that Exness is the best Forex trading platform with $1 deposits right now. Founded in 2008, this company has proven to be reliable, secure, and novice-friendly. The broker is regulated by several major financial organizations, including FCA and CySEC. It undergoes independent audits frequently, and its operations are closely monitored by authorities to ensure your funds are protected.
The broker offers a wide variety of available trading instruments, including more than 120 Forex pairs, stocks, commodities, and cryptocurrencies. The minimum deposit on basic accounts is $1, and there is also an interesting feature for small deposits: you can use infinite leverage until your overall deposit reaches $1,000. That means you can make serious profits without investing too much at first. Once an account is worth more than $1,000, your leverage rate is limited to 1:2000 for some instruments.
Additional features
This Exness review would be incomplete without naming at least a few most interesting features that can be pretty useful for novice traders. First of all, the broker has outstanding customer support in 13 different languages, and this service works 24/7. The platform also features several convenient ways for withdrawing your money. However, you need to verify your phone number before you can use the broker and withdraw any funds.