How To Trade Forex With Just $1

Can you trade Forex with just $1 as a starting capital? The answer is yes. You can do this using a cents Forex account. This account gives you a little feel of the real Forex market experience. And best of all, you can trade with less than $1. Hence the name “cents” account.

But here is a catch. It is difficult to make any tangible profits trading with $1. Because you could be forced to use very high leverage, also, this can go against you within seconds of entry. But this is by the way.

In this article, we are going to explain what a Forex cents account is. We will show you a bit-by-bit step in opening and trading a cents account. And also, other ways to trade Forex with just $1. So, brace up as we dive deeper.

Why Is It Difficult to Trade Forex with Just $1?

Trading with just $1 is difficult because it is rare to make any significant profits. As Forex traders, we can confidently say that making profits is the major aim of trading. Now an obvious question. Why is it difficult to make any significant profit using only one dollar?

There is something called leverage in Forex trading. There is also something called pips. Leverage is always expressed in a ratio as it tells a trader the marginal amount needed to open a particular position. Pips, on the other hand, means Points in Percentage. It is the smallest movement in the prices of currency pairs. Let’s look at two cases to see how these terms add up to make trading with just $1 difficult.

Case 1:

A 0.01 standard lot position is the least for most Forex brokers. It is equal to 1000 currency units, in this case, 1000 dollars. So, you want to open a position like this, but you can only afford $1 max. This becomes a problem in itself. Because to enter a trade like this, you will need a starting leverage of 1:1000. (You can even go as far as 1:2000 leverage for some brokers). What this means is that with a margin deposit of just $1, you can control a $1000 position.

Now here is the problem. Every loss or profit you make will not be expressed as a percentage of $1. Rather, it will be expressed as a percentage of the 1000-dollar position. So, with as little as a 0.1℅ loss, your marginal deposit will be reduced to $0. This is why it is advisable to trade lesser leverage. It is also advised to use a cents account when trading Forex with just $1.

Case 2:

Even at that, you still stand to gain very little when trading with a cents account. Here is why. A cent lot is equal to 0.01 of a standard lot. This also equals 1000 cents (or just $10 if you decide to convert). Let us assume that the AUD/USD currency pair is been traded here.

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Now, the price for this pair is currently 0.6530 US dollars for one Australian dollar.  Assuming also that we are trading a cent lot, (which is $10). The Point In Percentage should be about 0.0015 dollars, (or just 0.15 cents). This simply means that for every point change in the AUD/USD price, its equivalent will be a 0.15 cents addition or subtraction on your Forex trading balance.

So, for as large as a 100-pip gain, you should be expecting only a 15-cent return. Do you see how little the gain is? This is a reason why making profits with just $1 is a bit unrealistic and hence difficult.

Can I Trade Forex With $1?

Of course, you can trade Forex using just $1. The easiest way to do this is by using a cents account. Noticing the frequency at which this term is mentioned, one may ask, what is a cents account?

According to Wikipedia, a Forex cents account has its trading account balance displayed in cents rather than dollars. In other words, you can buy or sell below $1 worth of currencies using this account. It allows you to trade using cents on a dollar. A cents account is no different from other Forex account types. This is because it follows the same trading principles. The only difference here is the size of the lot (or the amount) used in trading.

So, instead of switching to a standard Forex account from a Demo account beginners can enter real positions and trade Forex with just $1. Also, instead of using a demo account, experienced Forex traders can test out new strategies. They use a cents account because it gives them a real feel of the market. As they are at risk of losing actual money, but in this case, in low-risk cents.

So Yes, you can trade Forex using only $1 with a cents account. And not just that, you can do this with a few other methods. These methods will be briefly treated as you read on.

How To Trade Forex With $1

How to Trade Forex With Just $1
How to Trade Forex With Just $1

Now, we have already established that it is possible to trade the Forex market using just $1. We also established that it can be important for both experienced traders and beginners. And that the easiest way to do this is by trading with a cents account.

But what we haven’t shown you is a step-by-step way to trade Forex using only $1. This is what we intend to treat next. If you cannot afford a high trading capital… It is important to know this, so you don’t make avoidable mistakes and blow the little you have.

 Here are five detailed steps to trade Forex with as little as $1. Among these steps is a way to scale up your trading account balance, and hence make more profits.

1. Register with A Forex Broker That Offers Cents Accounts

The very first step in trading a $1 account is to research and choose a suitable Forex broker. Another step is to register with that chosen broker of yours. Now, you can’t do the latter without the former, can you? This is why we took ample time to do this research for you.

Listed below, are brokers that allow you to trade Forex with just $1 and below. These Forex brokers are highly rated among experienced Forex traders. Some of them just have their lowest trading capital to be $1. At the same time, others offer micro accounts, Nano trading accounts, or even cents accounts. Either way, you can trade through these brokers using only a dollar deposit.

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Forex BrokersAverage Rating out of 5.0Support $1 Trading?Support cents Account?
Exness Broker4.6 ratingYesYes
BDSwiss Broker4.7 ratingYesYes
FXOpen Broker4.6 ratingYesYes
HFM Broker4.0 ratingYesYes
Forex Brokers that allow $1 Minimum Deposit

So now that you have seen a list of suitable Forex brokers that allow you to trade with $1 and below… How do you register with them? It is quite easy. Let’s take the Exness broker for example:

  • Key in your personal information, like your name, email address, nationality, or country of residence.
  • Choose the “Cent Account” option from the list of available account types.
  • Create a username and password for your trading account.

With these few steps above, you now have a Forex cents account. This should be your next step.

2. Open A Demo Account and Practice With 100 cents/$1

Despite having a Forex cents account, it is still important to first practice with a demo account. Losing in cents may be insignificant, but it doesn’t mean you shouldn’t mind. With a Forex demo account, you can set your balance to a $1 maximum. This will enable you to learn the character needed for this type of trading. You’ll learn the tight risk and money management attitude involved, the privilege of formulating your best cents trading strategy, and so on.

In addition, a Forex demo account allows you to familiarize yourself with your chosen trading software. And you do this saving your $1 for the actual Forex trading. A cent/$1 Forex account is low-risk, yes. However, it is still important for beginners to start with a demo account. This is because a Forex demo account not only familiarizes you with your trading software, it also acts as a “pre-introductory” guide on how a $1 trade works in the market.

3. Master Your Risk Management System

In this step, you should still be in the stage of practicing with a Forex demo account. This was mentioned before. Developing and mastering a suitable risk management system is better done with a demo account. This is because, unlike trading with a $1\cent account, you don’t lose a dime. So, you get to test out different systems without the fear of losing money.

What are these risk management systems we speak of? Forex risk management systems for $1 trading could include elements like:

  • Getting a grasp on $1 leverage trading: understanding leverage is an important element for making tangible profits with $1 in Forex.
  • Using stop-loss and take-profit orders: with this concept, you get to set a limit to losses made on an ongoing trade. You also get to set limits on profits to avoid being too greedy.
  • Building an overall good trading plan: this is perhaps the most important. With a bad trading plan, you are at risk of making bad trading decisions that are subject to emotions like fear, greed, rage, and so on.

4. Revisit Your Cents Account and Start Trading Forex With $1

Once you are done with Risk Management and Demo Trading, you should switch to your $1 account. The training and practice you did on the Demo account should make you more familiar with your trading strategy.

Your knowledge of Risk Management will help you survive longer while trading with a one-dollar account.

After successfully trading with a one-dollar account, you should try to scale up your account.

5. Scale Up your Account

Now, this is more like an additional step. This article was not written for you to be stuck with trading with $1. It was written in the light that you will advance from $1 into a higher capital. After mastering the basics of the Forex market, you should be able to grow your account to a certain extent.

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Even if you are not able to, you are now properly armed with the experience needed to handle a bigger trading account. So, if you get hold of a bigger capital you will be able to make profitable trading decisions.

Why Should I Use A Cents Account?

Experienced Forex traders can use a cents account to test out new trading strategies. This should also be the reason why beginning Forex traders should trade on a cents account.

As explained above, it is very difficult to make a significant profit while trading Forex with a $1/cent account. So, your major aim should be to gain the needed experience. And also to make the little realistic profits that can be made. Just like most experienced Forex traders, you should be profit-minded, but in a realistic way. Your focus should also be on testing out strategies, managing risks effectively, and making a concrete trading plan.

These are the potential values a $1/Forex cents account can offer to those who use it rightly.

Other Ways to Trade Forex with $1

Most of this writeup has been about using a Forex cents account as a way to trade with just one dollar. In this section, we are going to explore other ways you can do this. These methods include:

  • Using brokers that offer a $1 minimum deposit. These could range from all “cents trading” Forex brokers to the “$1 trading” Forex brokers. The reason why the “cents trading” brokers were included is because most of them have a separate $1 minimum trading account. So, you can still trade Forex with $1 without opening a cents account.
  • Using brokers that offer Nano accounts. This is the smallest size of a standard account. It is similar to a cent account. A Nano account has a lot size of 100 units worth of currency. And yes, you can trade Forex with $1 using these types of accounts.
  • By using very low leverage. Despite choosing a broker that offers $1 Forex trading… You will still need a tool to make your position more realistic. In this case, that tool is leverage. However, when you use too much leverage, you increase the risk of blowing the entire $1. Therefore, Forex traders should bear this in mind when using any broker that offers a $1 minimum trading deposit.

This should be noted though. The ease and benefits of trading with $1 using a cents account can not be overemphasized. With a proper cents account, you last longer and make better profits while trading within $1.

Frequently Asked Questions About How to Trade Forex With $1

What Is the Smallest Account You Can Trade with Forex?

With some micro accounts, Nano accounts, and cents accounts, you can trade Forex with as little as $1. You can even go below this with a proper cents account. However, high money management risks will be needed to maintain a trading capital of $1.

Which Broker Has $1 Minimum Deposit?

Some Forex brokers allow you to trade with just $1. They include Exness Trade, BDSwiss, FXOpen, HFM, FXTM, and so on. To select the one suitable for you, you can check their rating on trusted websites like Trust Pilot. You can also check their authenticity through any financial regulatory body.


Is it possible to trade Forex using just $1? Yes, it is. It will be challenging as there will not be room for flexibility. Some good opportunities will have to be overlooked because they don’t fit into your risk management strategy.

Finally, as we would always point out. Check out the stories of the top traders in the world. You’ll hear stories like “I started with $25,000”. So what are we trying to say?

You can trade forex with $1 but don’t expect anything reasonable out of it other than learning and gaining experience.


What Pips are in Forex— Investopedia

What Margin is — Babypips

Definition of a cents account— Wikipedia

How a demo account works— Investopedia

Nano Forex account explained—

Exness website—

What Forex risk management is—

How to use stop-loss and take-profit orders—