Which CFD brokers let me start with a small first deposit?
Verdict
- Pepperstone is our pick for a small first deposit: it asks for $10 or the local equivalent, and you can hold the account in HKD.
- Capital.com's minimum is 20 in USD, EUR or GBP (50 EUR by bank wire). XS sets no account minimum, but its payment methods start at $15 (Skrill, Neteller), $20 (cards) or $300 (bank transfer), and its Elite account needs $500.
- OANDA and ActivTrades, which also accept Hong Kong residents, list no minimum deposit in our data.
- A small deposit limits what you can trade safely: at $10 a pip on a standard lot, even a 0.01 lot moves $0.10 a pip on EUR/USD.
Several brokers now let you open with the price of lunch, so the minimum alone does not decide much. What matters is whether the payment method you will actually use has its own minimum, and whether a small account can still trade the instruments you want without being stopped out by normal price moves. Pepperstone handles both well, and it is the broker we would start a Hong Kong account with.
Pepperstone: $10 to start, in HKD if you like
Pepperstone's international site sets the minimum at '$10 or your local equivalent' for both Standard and Razor accounts. Cards, Apple Pay, Google Pay, PayPal, Neteller and Skrill take deposits from $10, bank transfer has no minimum, and crypto starts at $18; Pepperstone lists all of them as free. HKD is one of ten base currencies, which avoids converting every deposit. A beginner with a small balance will usually be better off on Standard (no commission, 1.1-pip EUR/USD average) than Razor, where the $7 round-turn commission per lot is charged on top.
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First-deposit minimums compared
| Broker | Account minimum | Method minimums worth knowing |
|---|---|---|
| Pepperstone | $10 or equivalent | Cards and e-wallets $10; bank transfer none; crypto $18 |
| Capital.com | 20 USD/EUR/GBP | 50 EUR by bank wire |
| XS | $0 ($500 for Elite) | Skrill/Neteller $15; cards $20; bank transfer $300 |
| OANDA | $0 | Check per method |
| ActivTrades | $0 | Check per method |
| FP Markets | $100 | — |
What $10 can actually trade
Leverage lets a small deposit open a larger position, which is exactly why small accounts get wiped out. Pepperstone's international entity allows retail leverage up to 1:200 on FX. Rough arithmetic on EUR/USD:
- A 0.01 lot (1,000 units) moves about $0.10 per pip. A 50-pip move against you costs $5, half of a $10 balance.
- Margin at 1:200 on that position is about $5 to $6, leaving little room before a margin call.
- Retail clients at Pepperstone's international entity are not liable for a negative balance, so you cannot lose more than you deposit, but you can lose all of it in one move.
- A deposit of a few hundred dollars, traded at the same small size, gives each trade room to work.
Before you send the first deposit
- Choose the base currency now: HKD at Pepperstone, while XS offers only USD, EUR and JPY.
- Deposit by a method you can also withdraw to, as Pepperstone returns funds to the original source.
- Read who holds the account: Pepperstone serves Hong Kong through Pepperstone Markets Limited in the Bahamas and has no SFC licence.
- Test a small withdrawal early so you know how long it takes.
Sources
Can I really open a Pepperstone account with $10?
Yes. Pepperstone's international site gives the minimum as $10 or your local equivalent, by card, e-wallet, Apple Pay or Google Pay.
Is a no-minimum broker better than a $10 one?
Not in practice. A broker with no account minimum may still set minimums per payment method, as XS does with $300 for bank transfers.
Should a small account use Razor or Standard?
Usually Standard. With no commission, small positions are simpler to cost; Razor pays off when you trade larger or more often.
Can I lose more than my first deposit?
Not as a retail client of Pepperstone's international entity, whose terms say retail clients are not liable for negative equity.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This page is not investment advice; broker terms change, so check them on the broker's own site before you open an account.