iForex Minimum Deposit Requirement

One of the main reasons people chose iForex over other, less popular forex trading brokers is the iForex minimum deposit which is lower than some of its other competitors. For only $100, you can start trading different currencies, commodities, shares, indices, and other instruments. This small iForex minimum deposit can give you a good foot in the door to using the website, especially since the broker does not offer a demo account to those who have not made a real account.

iForex minimum deposit vs others

But how does iForex compare with its competitors?

Among its major competitors, the iForex minimum deposit is at par with XTrade and Plus500, which both also only require $100 to start trading. However, when compared to another leader, FXCM, iForex becomes much more enticing as the former has a minimum deposit of $2,000.

When compared with some of the smaller companies in the market, iForex is at par with the likes of AvaTrade, Markets.com, eToro, ETX, and FXCC, all of which allow clients to start trading with only a $100 deposit. They even beat their fellow Cyprus-based broker UFX that requires a minimum deposit of $500.

However, some of the smaller companies seem to have tried to lower their required minimum deposit in order to attract clients to choose them over some of the larger players. For instance, Easy-forex only requires a $25 deposit. HotForex and OctaFX only require $5 minimum deposits.

While these smaller brokers probably do not have as many advantages that come with using iForex, the small minimum deposit required to start trading with them is definitely an advantage, especially for novice traders who are only starting out.

The benefits of low minimum deposit

iForex minimum deposit helps brokers better start with forex trading. While there may be lower minimum deposits out in the market, the fact that one of the most reputable traders with a long history has such a low minimum deposits allows traders to get started with forex trading with a broker that they will most likely want to stick with rather than just learn from before switching to a more known broker.

Traders should also factor in the leverage that iForex offers. It has one of the highest leverages among the major traders at as high as 400:1. This means that while you may only be investing $100, you will be able to have as much as $40,000 worth of purchasing power. This is much higher than you will have with other brokers. This purchasing power allows you to make more investments and have higher returns for your investments. This leverage combined with the relatively low minimum required deposit allows its clients to invest a small amount and potentially earn more than they could have expected.

Another iForex feature that goes well with its low minimum deposit is its protected account. This allows users to be protected from issues concerning a negative balance. Since you will only be putting in a small amount, you want to make sure you do not risk losing more than you put in.

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