Top 10 CFD Brokers and Trading Platdorms of 2024
We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the top CFD brokers based on our analysis:
- 1
IC Markets - Best CFD trading account - A wide range of trading assets. Low spreads. Variety of trading platforms. - 2
Pepperstone - Wide selection of trading platforms. Tight spreads and favourable trading conditions. Numerous regulatory licenses. - 3
AvaTrade - A wide selection of financial assets. Innovative trading platforms. Highly rated educational resources. - 4
Roboforex - A variety of trading platforms. Over 12,000 trading assets. Different types of trading accounts. - 5
FxPro - Various trading platforms. A diverse range of available markets and products. Multiple analytics tools. - 6
AMarkets - A wide range of trading assets. Extensive analytical capabilities using modern tools and trading robots. No commissions on many operations. - 7
- 8
ActivTrades - Wide range of trading assets. A wide variety of trading platforms. Extensive training materials including webinars, videos, articles and guides. - 9
- 10
XM - Wide range of trading assets. Extensive educational resources. Tight spreads on the Ultra Low account.
Trading on financial markets is becoming increasingly accessible and popular. One of the most sought-after trading instruments is Contracts for Difference (CFD).
For successful CFD trading, a reliable and professional broker is essential. Considering your needs and criteria, this rating will help you choose the most suitable broker.
CFD Brokers List 2024
1. IC Markets
IC Markets is a reliable and versatile broker that offers a wide range of services and tools for trading in the financial markets. The company provides impressive trading instruments, high-quality trading platforms, advanced analytical tools, and valuable education for traders of all levels.
IC Markets is likely most suitable for experienced traders who value deep liquidity, tight spreads, and advanced trading tools. Beginner traders can also benefit from the educational materials offered by the company, but they should be prepared for some additional expenses and a higher minimum deposit requirement.
Pros and Cons of IC Markets
Pros
- A wide range of trading assets.
- Low spreads.
- Variety of trading platforms.
- Quality educational materials.
- Efficient customer support service.
Cons
- High minimum deposit.
2. Pepperstone
Pepperstone is a significant and reliable broker that offers a broad range of trading instruments and attractive trading conditions. With regulation by serious authorities, clients can be confident in the security of their funds.
The broker is suitable for various types of traders. Beginners will find extensive educational materials, including trading guides, webinars, instructional videos, and Forex trading courses. Experienced traders will also appreciate Pepperstone's opportunities, including favorable trading conditions, various trading platforms, and access to complex trading instruments.
The broker's technical support operates at a high level, offering clients quick and efficient responses to any questions.
Pepperstone is an excellent choice for traders of all experience levels. With a unique combination of educational materials, trading tools, and high-quality customer service, this broker ensures excellent conditions for successful trading.
Pros and Cons of Pepperstone
Pros
- Wide selection of trading platforms.
- Tight spreads and favourable trading conditions.
- Numerous regulatory licenses.
- A large number of trading assets.
Cons
- Lack of diversity in types of trading accounts.
3. AvaTrade
AvaTrade is ideal for traders looking for various trading tools and a high level of investment protection. Beginners will be comfortable with the intuitive interface of the AvaTradeGO mobile platform, while experienced traders will appreciate the depth of MetaTrader's customization and analytical tools. However, traders who need access to STP or ECN accounts should pay attention to other brokerage companies.
Pros and Cons of AvaTrade
Pros
- A wide selection of financial assets.
- Innovative trading platforms.
- Highly rated educational resources.
Cons
- Limited trading account options.
- Account inactivity fee.
4. RoboForex
RoboForex is recognized as one of the few Forex brokers with an impeccable reputation. The company strictly adheres to its regulations, does not delay payments, and provides fair quotes. RoboForex can be a good choice for both novice and professional traders due to its robust offerings, which include a variety of trading instruments, account types, platforms, and competitive trading conditions. The broker's commitment to transparency and customer service further solidifies its standing in the Forex community.
Pros and Cons of Roboforex
Pros
- A variety of trading platforms.
- Over 12,000 trading assets.
- Different types of trading accounts.
- Competent 24/7 customer support.
- Loyalty programs and bonus offers for clients.
- Low spreads and fees.
Cons
- Regulation in an offshore jurisdiction.
- Beginner traders may find a lack of educational materials.
5. FxPro
FxPro provides a comprehensive range of services and tools for traders. With its variety of trading accounts, platforms, and available markets, it is well-suited to meet the needs of different traders. This broker suits traders looking for a wide selection of markets, diverse platforms, and analytical tools. It is also apt for beginner traders, thanks to the educational materials and experienced traders who value flexible trading conditions.
Pros and Cons of FxPro
Pros
- Various trading platforms.
- A diverse range of available markets and products.
- Multiple analytics tools.
- Extensive educational materials.
Cons
- An inactivity fee.
- Absence of cent accounts and services for copying trades.
6. AMarkets
AMarkets is a versatile broker offering a full range of services in the Forex market. It enables independent trading and investing funds in copy trading with equal success.
Traders can access several accounts with low spreads, permitted scalping, and fast trade execution. Up-to-date analytics, valuable services, and rapid fund withdrawal support a stable technical platform.
Investors who are not keen on engaging in independent trading can still achieve significant profits by copying the trades of successful traders. Building a portfolio is time-efficient and offers the possibility of passive income.
Pros and Cons of AMarkets
Pros
- A wide range of trading assets.
- Extensive analytical capabilities using modern tools and trading robots.
- No commissions on many operations.
- Convenience and simplicity of opening an account and managing it.
Cons
- Not the most extensive educational materials.
- On some assets, spreads are higher than those of competing Forex brokers.
7. Admirals
The broker Admirals is suitable for a broad spectrum of traders. With its strict regulation, various account types, and a competent set of educational and analytical materials, this broker provides high-quality services for novice and experienced traders.
Beginners seeking detailed educational resources and support will undoubtedly appreciate this broker. Experienced traders will also find it beneficial due to competitive trading commissions, abundant tools for analysis and trading, and the convenience of the depositing and withdrawal process.
Pros and Cons of Admirals
Pros
- Low trading fees.
- Wide range of payment methods.
- Extensive analytical resources.
- A rich collection of educational materials.
Cons
- Inactivity fee.
- Some users complain about the intrusiveness of the support service.
8. ActivTrades
ActivTrades is suitable for beginner traders who value simplicity and intuitive trading platforms, as well as a variety of educational materials to improve their skills. Moreover, this broker can be a suitable option for experienced traders who prefer to trade various instruments and use the powerful features of the MetaTrader 4, MetaTrader 5 and TradingView platforms.
However, for traders with more specific requirements, such as a variety of trading accounts or individual conditions for professional traders, ActivTrades may be less attractive.
Pros and Cons of ActivTrades
Pros
- Wide range of trading assets.
- A wide variety of trading platforms.
- Extensive training materials including webinars, videos, articles and guides.
- Professional Support Team.
Cons
- Lack of diversity in trading accounts.
9. OANDA
Oanda is an excellent choice for traders seeking a reliable and regulated broker with competitive spreads and various trading assets.
With quality analytics and diverse educational materials, Oanda suits beginners and experienced traders.
Pros and Cons of Oanda
Pros
- Tight spreads.
- Diverse markets and products.
- Advanced trading platforms.
- Quality analytics.
- Extensive learning section.
Cons
- Limited trading account types.
- Inactivity fee.
- High swaps.
10. XM
XM broker offers a wide range of services, making it an attractive option for various traders. With over 1500 trading instruments, extensive educational resources, and numerous trading platforms, XM is ideally suited for beginners and experienced traders. Novice traders will particularly appreciate the accessible educational materials and low entry threshold, while professionals will find the competitive spreads and diversity of instruments appealing.
Pros and Cons of XM
Pros
- Wide range of trading assets.
- Extensive educational resources.
- Tight spreads on the Ultra Low account.
- Many analytical materials.
- Commission-free deposits and withdrawals.
Cons
- Inconsistency in technical support.
- Inactivity fee.
- Standard account has a higher spread than the market average.
How was the list of CFD brokers compiled?
In compiling the top 10 CFD brokers, we relied on strictly defined and weighted criteria:
- The basis for ranking brokers was taken from our Forex broker list.
- Brokers were selected based on the stringent standards of our testing methodology, ensuring their quality and reliability.
- All selected brokers provide services on terms accessible to a wide range of traders, including offers specific to CFD trading.
- The brokers included in the list meet high-security standards and offer trading conditions necessary for successful CFD market operations.
These criteria guarantee that the brokers included in the list are reliable and offer quality services in CFD trading.
FAQ
What is CFD trading?
CFD trading (Contract for Difference) is a financial instrument that allows traders to speculate on the price movements of various assets, such as stocks, commodities, indices, or currencies, without owning the underlying asset. Traders can profit from both rising and falling markets by entering buy or sell positions. CFD trading also offers leverage, enabling traders to control larger positions with a smaller amount of capital, but it carries higher risk due to market volatility.
What are CFD providers?
CFD providers are financial institutions or brokers that offer Contracts for Difference (CFDs) to traders. These providers allow individuals to trade on the price movements of various underlying assets, such as forex, stocks, indices, commodities, and cryptocurrencies, without owning the actual asset. CFD providers typically offer leveraged trading, enabling traders to control larger positions with less capital. They earn money through spreads, commissions, and overnight fees, and it's essential to choose a well-regulated provider to ensure transparent pricing and secure trading conditions.
What is the commission of CFD brokers?
The commission of CFD brokers can vary depending on the broker and the type of asset being traded. Typically, brokers charge through the spread, which is the difference between the buy and sell price. Some brokers may also charge a fixed commission per trade or an overnight fee (swap) for holding positions open beyond a trading day. It’s important to check a broker’s fee structure before trading, as it can significantly affect profitability.
Which broker is best for CFDs?
The best brokers for trading CFDs are known for their reliable trading conditions, wide range of instruments, low fees, and excellent customer service. Some of the top Forex brokers for CFD trading include:
- IC Markets: Known for its extensive range of CFDs on stocks, indices, commodities, and currencies.
- Plus500: Offers a user-friendly interface and a broad selection of CFD instruments.
- eToro: Features social trading and a wide variety of CFDs on different assets.
- CMC Markets: Provides a comprehensive range of CFDs and an excellent trading platform.
- Saxo Bank: Offers extensive CFD trading opportunities with competitive spreads.
Are CFD brokers safe?
The safety of a CFD broker depends on its regulation and reputation. To ensure the safety of your funds, choose brokers that:
- Are regulated by reputable authorities: Such as FCA (UK), ASIC (Australia), CySEC (Cyprus), and others.
- Have transparent trading conditions and a long history of operation.
- Segregate client funds in separate accounts to protect them from being used for the broker's operational activities.
- Offer negative balance protection, so clients cannot lose more than their investment.
How to choose the best CFD broker?
When choosing the best CFD broker, consider the following factors:
- Regulation and licenses: Ensure the broker is regulated by reputable financial authorities.
- Trading conditions: Look for tight spreads, low commissions, leverage options, and fast order execution.
- Range of instruments: A broad selection of CFDs on stocks, indices, currencies, commodities, and cryptocurrencies.
- Trading platform: Ease of use, availability of mobile versions, and additional analysis tools.
- Customer service: 24/7 support, educational materials, and positive reviews from other traders.
What is the biggest CFD broker?
One of the largest CFD brokers is IG Markets. The company has over 45 years of experience in the market, offers a wide range of CFDs on various assets, and is regulated by top financial authorities worldwide.
What are the best trading platforms for CFDs?
The best platforms for CFD trading include MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. MT4 is widely used due to its ease of use, customizable charts, and automated trading features. MT5 offers additional functionalities like more timeframes and advanced order types, making it suitable for traders seeking more flexibility. cTrader is known for its institutional-grade tools, fast execution, and transparent pricing. Choosing the right platform depends on your trading style, the features you need, and compatibility with your broker.
Has anyone made money with CFD?
Yes, many traders have made money trading CFDs. Success in CFD trading depends on the trader's knowledge, experience, risk management strategies, and discipline. However, it is important to remember that trading CFDs involves high risks, and traders can experience both profits and losses.
Which is better, Forex or CFD?
The choice between Forex and CFDs depends on your trading preferences and goals:
- Forex: Focuses primarily on trading currency pairs. It is suitable for those interested in currency markets and trading on global macroeconomic news.
- CFDs: Offer the ability to trade a wide range of financial instruments, including stocks, indices, commodities, and cryptocurrencies. It is suitable for those who want to diversify their portfolio and take advantage of various market opportunities.
Both options have their advantages, and your choice will depend on your trading interests and strategies.
