We took the time to check 40+ brokers to come up with the best one.
Before we go in to how to choose a good CFD broker and our top rated candidates for the job, let us take a look at what CFD trading is about.
What Is CFD Trading?
In very simple terms, a CFD or Contract for Difference is an agreement to exchange the difference in value of a particular financial instrument. This happens between the time that its position was opened and the time at which it is closed.
Here are the best CFD Brokers that we have tested:
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By trading on margin, a trader does not have to expose the full position of any given asset, just a small percentage of it.
The instruments that can be traded in CFDs include shares, indices, commodities, foreign exchange and treasuries. As with any form of online trading however, you do need a broker to get you started.
Make sure you only sign up with trusted brokers. This way you can avoid the scam platforms.
Choosing the Best CFD Broker
Before we unravel the reviews of our top recommendations, let us first consider what key features to look for in an efficient brokering service.
1) How Do The Reviews Look?
The only reason anyone would trouble themselves to review anything is because they might have good reasons for why you should or should not try out the same product for yourself.
In the case of CFD Brokers, an unbiased review of any broker you are looking up can supply you with some handy information to help you decide whether or not you want to work with them. An added tip is to look up multiple reviews on the same broker and check if they are all consistent.
2) Is The CFD Broker Legitimate?
If the broker is not licensed and regulated by a government authority, you have absolutely no solid evidence to suggest it will serve you authentically and not be a scam.
While regulated brokers are not exactly squeaky clean on issues like extortion, their complaints tend to be isolated incidents or misunderstandings on the part of their clients. The bottom line is an official certificate should be a must-have of any broker on your radar.
3) Is The Broker Compatible With Your Trading Style?
This calls into account details like trading platforms, types of accounts, assets to trade in, methods of making deposits and withdrawals etc.
As a trader, you will have your own unique preferences when it comes to trading so it is best that you go with the broker that is most compatible them.
Reviews of CFD Brokers: We are now ready to take a look at a few of the best CFD brokers you can choose from.
Other Good CFD Broker
Please take a look at the recommended brokers in the list above. If you want to check out other CFD brokers then look here:
One of the largest binary options brokers in the world, 24Option now also offers traders to trade with CFDs and Forex as well. It is a regulated broker in multiple jurisdictions most notably under the FCA in the UK CySEC in Cyprus and IFSC in Belize.
This broker provides clients with the highly popular MT4 trading platform for CFD and Forex while for binary options traders, it offers Scipio. There are numerous currency pairs as well as over 100 assets to trade in.
Deposit options with this broker are plenty. International traders can make deposits through Webmoney, AstroPay, Qiwi, Sofort and Skrill. The minimum initial deposit for brand new accounts is $250 while the minimum trading amount is $24. A demo account is also available but only after that minimum initial deposit is made.
Finally, the other notable feature of this broker is its customer service. It is available in 16 different languages via an online chat or over the phone through 16 different codes. The staff is very professional and courteous.
Markets.com is a Forex broker for the most part but also includes CFDs. It is a licensed and regulated broker under CySEC in Cyprus and FSB in South Africa.
In terms of assets, Market.com offer over 200 stocks, commodities indices and currency pairs to trade. It uses the Markets Web Trader platform which has been tuned to work well on mobile devices. Leverage is a generous 200:1 which is about ideal for most traders. The minimum deposit required to open an account is $100.
CFD traders are given all the mandatory financial aid to be expected from a good broker such as the ability to trade shares, commodities, indices etc. without owning the underlying assets.
For the benefit of all traders, a demo account is available for an unlimited time so traders can experiment with new financial strategies without risking their real funds.
Top Rated CFD Brokers
While these are a few of the best brokers in CFD trading currently operating, do not be flattered by their glittering reviews and ratings. What you should really be concerned about is how well regulated they are as well as how adept they are at serving your personal financial interests.