Best CFD Brokers in India 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 broker in India - 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
Libertex - Tight spreads and attractive trading conditions. Wide selection of trading assets. Rich selection of educational materials and analytics. - 5
Roboforex - A variety of trading platforms. Over 12,000 trading assets. Different types of trading accounts. - 6
FxPro - Various trading platforms. A diverse range of available markets and products. Multiple analytics tools. - 7
- 8
ActivTrades - Wide range of trading assets. A wide variety of trading platforms. Extensive training materials including webinars, videos, articles and guides. - 9
HF Markets - Regulated by reputable financial authorities. Wide selection of trading assets. A variety of educational materials and analytical reviews. - 10
XM - Wide range of trading assets. Extensive educational resources. Tight spreads on the Ultra Low account.
The brokers we selected are distinguished by their advanced trading platforms, competitive commissions, and extensive range of CFDs, making them excellent choices for trading in the CFD market.
Comparison of Top 10 CFD Brokers in India
Choosing the right CFD broker involves evaluating several factors, including regulation, fees, trading platforms, and customer support. Below is a comparison of the top 10 CFD brokers available to Indian traders in 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. Libertex
Libertex is an established broker offering various trading instruments and educational resources. With zero commission on deposits and various analytical tools, this broker can appeal to novice and experienced traders.
Pros and Cons of Libertex
Pros
- Tight spreads and attractive trading conditions.
- Wide selection of trading assets.
- Rich selection of educational materials and analytics.
Cons
- High swaps and inactivity fee.
5. 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.
6. 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.
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. HF Markets
HF Markets is a reliable and appealing Forex broker, offering a wide selection of trading assets, a variety of account types, and access to the popular trading platforms MetaTrader 4 and MetaTrader 5. With its regulation and industry experience, the company has earned a reputation as a dependable partner for traders of varying experience levels.
HF Markets is recommended for those seeking a trustworthy and vetted broker with favorable trading conditions and customer support.
Pros and Cons of HF Markets
Pros
- Regulated by reputable financial authorities.
- Wide selection of trading assets.
- A variety of educational materials and analytical reviews.
Cons
- There is no alternative to MetaTrader.
- High swaps and wide spreads.
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.
What is CFD?
Contracts for Difference (CFDs) are financial derivatives that allow traders to speculate on the rising or falling prices of underlying assets without owning them. CFDs cover a wide range of instruments, including stocks, indices, commodities, and currencies.
How CFDs Differ from Other Financial Instruments
Unlike traditional trading, CFDs do not involve the ownership of the underlying asset. Instead, traders enter into a contract with the broker to exchange the difference in the asset's price from the time the contract is opened to when it is closed. This allows for leveraged trading, enabling traders to control larger positions with a relatively small initial investment.
Pros and Cons of CFD Trading
Advantages
Leverage: Amplifies potential returns by allowing traders to control larger positions with a smaller capital outlay.
Flexibility: Ability to trade in both rising and falling markets, providing opportunities in various market conditions.
Diverse Markets: Access to a wide range of financial instruments and markets from a single platform.
Cost-Effective: Lower transaction costs compared to traditional trading methods, with no stamp duty in some regions.
Disadvantages
Risk of Losses: Leverage can magnify losses, potentially exceeding the initial investment.
Complexity: Requires a good understanding of the markets and trading strategies to manage risks effectively.
Regulatory Risks: Varying regulations across different jurisdictions can impact trading conditions and broker reliability.
Overnight Fees: Holding positions overnight may incur additional costs, affecting overall profitability.
Key Factors to Consider When Choosing a CFD Broker
Selecting the right CFD broker is essential for a successful trading experience. Here are the key factors to evaluate:
- Regulation and Security. Ensure that the broker is regulated by reputable financial authorities. Regulation provides a level of security, ensuring that the broker adheres to strict financial standards and practices.
- Trading Fees and Costs. Compare the spreads, commissions, and other fees charged by brokers. Lower trading costs can significantly impact your overall profitability, especially for high-frequency traders.
- Trading Platforms. A user-friendly and reliable trading platform is crucial. Look for platforms that offer advanced charting tools, fast execution speeds, and compatibility with various devices.
- Asset Availability. Choose a broker that offers a wide range of CFDs on different asset classes. This will allow you to diversify your trading portfolio.
- Customer Service. Responsive and knowledgeable customer support can be invaluable, especially when dealing with technical issues or account queries.
- Educational Resources. Access to comprehensive educational materials, including tutorials, webinars, and market analysis, can help enhance your trading skills and knowledge.
How Was the List of the Best CFD Brokers in India Compiled?
In compiling the list of CFD brokers for Indian traders, we adhered to a meticulously defined and weighted set of criteria to ensure only the most reliable and high-quality brokers were selected. Our selection process included the following key factors:
We began by leveraging our comprehensive Forex brokers list as the foundation for ranking, ensuring that brokers with proven excellence in Forex trading were also evaluated for their CFD offerings.
Brokers were rigorously assessed based on our strict testing standards, which evaluate their overall quality, reliability, and performance. This methodology ensures that only brokers meeting high operational standards make it to our final list.
All selected brokers offer services tailored to Indian traders, providing terms and conditions that are accessible and favorable to a wide range of Indian investors.
We ensured that each broker provided specific offers and features for CFD trading, catering to both novice and experienced traders. This includes a diverse range of trading instruments, competitive spreads, and robust trading platforms.
The brokers in our list ensure the security of client funds by maintaining segregated accounts and adhering to regulations from respected authorities like CySEC, FCA, and ASIC.
By applying these comprehensive criteria, we have curated a list of CFD brokers that are not only reliable and secure but also specifically cater to the needs of Indian traders. This ensures that our recommended brokers provide exceptional quality services, enabling Indian investors to engage in CFD trading with confidence and peace of mind.
FAQ
Is CFD trading legal in India?
Yes, CFD trading is legal in India, but it is regulated by the Securities and Exchange Board of India (SEBI). To safeguard their investments, traders must ensure they use brokers that comply with local regulations.
What is the minimum deposit required to start trading CFDs?
The minimum deposit varies by broker but typically ranges from $1 to $200. Some brokers offer micro accounts with lower deposit requirements, catering to beginners.
Can beginners successfully trade CFDs?
Yes, beginners can trade CFDs successfully with proper education and risk management, starting with a demo account to practice trading strategies without risking real money. Additionally, be sure to check out our Best Forex Brokers for Beginners in India list to find brokers that are well-suited for those just starting out.
What are the risks associated with CFD trading?
CFD trading involves significant risks, including the potential for large losses due to leverage, market volatility, and the complexity of the instruments. It's essential to understand these risks and implement effective risk management strategies.
How do I choose the right trading platform for CFDs?
Choose a trading platform that is user-friendly, reliable, and offers the necessary tools and features to support your trading style. Consider factors such as speed, customization options, available indicators, and compatibility with your devices.
Can I trade CFDs on my mobile device?
Yes, most CFD brokers offer mobile trading apps that are compatible with both iOS and Android devices, allowing you to trade on the go with ease.
What types of assets can I trade with CFDs?
CFDs cover a wide range of assets, including forex pairs, stocks, indices, commodities, cryptocurrencies, and ETFs, providing ample opportunities for diversification.
How do CFD brokers make money?
CFD brokers earn money through spreads (the difference between the buy and sell prices), commissions on trades, and overnight financing fees for leveraged positions.
Are demo accounts available for practicing CFD trading?
Yes, most CFD brokers offer demo accounts that allow traders to practice trading with virtual funds, helping them familiarize themselves with the platform and develop their trading strategies without financial risk.
