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By trading CFDs, you can get exposure to markets without actually owning any of the assets and make a profit off your speculations, so if you are interested in this type of trading, we recommend using one of the following 30 Best CFD Forex Brokers.
CFD trading, otherwise known as “Contract for Difference” trading, is a form of speculative derivatives trading whereby profits can be made by forecasting price movements and without actually owning the underlying assets.
In a nutshell, when you trade CFDs, you agree to exchange the price difference of an asset from the moment it is opened to the moment it is closed.
This form of trading can be profitable whether prices decrease or increase and you can either sell and “go short” or buy and “go long”.
CFD trading is also commonly used for hedging against losses, whereby any loss in one portfolio could be balanced by a gain in your CFD portfolio.
One of the greatest advantages of CFD trading is that it is usually leveraged, which means that you can gain much more exposure to markets than you would with any other form of trading. The reason why leveraged CFD trading is so popular, is that you will only have to pay the price difference once the trade is closed, and not the full cost.
However, there is always a risk with leveraged trading and trading this way should be approached with great caution!
AvaTrade
AvaTrade is regulated by BVI, FFAJ, ADMG, FSA, FRSA, FSCA, ASIC and MiFID, and has more than 300,000 clients worldwide.
AvaTrade offers demo accounts and educational resources for inexperienced traders, but also provides advanced tools for research and analysis.
AvaTrade clients can choose from 4 accounts and can fund their accounts using AUD, USD, GBP, EUR or CHF.
Pros and Cons of AvaTrade:
| ✔️Pros | ❌Cons |
| Many regulations | No US clients |
| Proprietary platform | |
| Educational material provided | |
| Trading bonuses |
Admirals
Admirals is a MetaTrader-friendly broker that is regulated by FCA, ASIC, EFSA and CySEC.
In addition to being compatible with MT4 and MT5, Admirals offers a proprietary platform, as well as demo and Islamic accounts.
Clients can choose from 5 accounts when trading with Admirals and accounts can be funded using CHF, EUR, USD, RON, GBP, PLN, HUF, BGN, HRK or CZK.
The minimum deposit required to activate a live trading account with Admirals ranges from 1 USD to 100 USD and a maximum leverage of 1:500 is offered.
Pros and Cons of Admiral Markets:
| ✔️Pros | ❌Cons |
| Low minimum deposit | Cash rebates depends on region |
| 10 funding currencies | Penalty fees |
| Tier-1 regulations | |
| Recommended for beginners |
Pepperstone
Pepperstone offers 2 unique accounts that can be funded using JPY, NZD, HKD, SGD, USD, CHF, EUR, GBP or AUD, and a minimum deposit of 200 USD is required.
Pepperstone is a trusted broker that is regulated by several agencies, including ASIC, CySEC and FCA.
Pepperstone clients can use demo and swap-free accounts and SMART trading tools are provided, along with AutoChartist and Figaro.
Pros and Cons of Pepperstone:
| ✔️Pros | ❌Cons |
| Suitable for social trading | High minimum deposit |
| Commission-free trading | |
| No penalty fee | |
| Tier-1 regulations |
OANDA
OANDA requires no minimum deposit and several currencies are accepted for funding an account, including CHF, CAD, HKD, SGD, EUR, AUD, GBP, USD, or JPY.
OANDA provides customer support 24 hours a day and has developed an innovative proprietary trading platform, as well as a special platform for API trading.
OANDA offers Metals, Indices, Bonds, Commodities and Forex, and clients have the option to use demo and Islamic accounts.
Pros and Cons of OANDA:
| ✔️Pros | ❌Cons |
| No minimum deposit | No trading promotions |
| Active trader account | Low maximum leverage |
| 9 base currencies | |
| Many regulations |
IronFX
IronFX is available in 180 countries and is suitable for clients of the Muslim faith and beginners.
IronFX offers 7 trading accounts that can be funded using GBP, PLN, CZK, BTC, USD, AUD, JPY or EUR, and a minimum deposit of 100 USD is required.
IronFX is a great option for clients who are interested in trying copy trading and tight spreads are guaranteed.
Pros and Cons of IronFX:
| ✔️Pros | ❌Cons |
| 300+ instruments | No US clients |
| Zero-commission trading | No Cryptocurrencies |
| Accounts with fixed spreads | |
| Recommended for inexperienced traders |
FP Markets
FP Markets is a trusted and regulated CFD broker that is recommended for social traders and beginners.
FP Markets guarantees low latency and tight spreads and is compatible with the MetaTrader platforms.
FP Markets also provides a proprietary trading platform, as well as demo and swap-free accounts.
A minimum deposit of $100 is required to start trading with FP Markets and accounts can be funded using SGD, CAD, HKD, NZD, AUD, EUR, USD, CHF, GBP or JPY.
Pros and Cons of FP Markets:
| ✔️Pros | ❌Cons |
| 10 Base currencies | No trading bonuses |
| ASIC-regulated | No fixed spreads |
| Tight spreads |
CMC Markets
CMC Markets clients can choose from 3 trading accounts and over 300 Forex pairs are offered, in addition to a variety of Treasuries, Cryptocurrencies, Indices, Shares, ETFs and Commodities.
No minimum deposit is required to start trading with CMC Markets, but accounts can be funded using several currencies, including GBP, USD and EUR.
CMC Markets is recommended for inexperienced traders and active traders, and swap-free accounts are provided for clients of the Muslim faith.
Pros and Cons of CMC Markets:
| ✔️Pros | ❌Cons |
| 300+ currency pairs | Spread Betting account does not support USD |
| No minimum deposit | Not many regulations |
| 10 base currencies |
Capital.com
Capital.com is regulated by CySEC, ASIC and FCA, and is trusted by more than 1 million clients worldwide.
We recommend this broker for beginners, but unfortunately, no swap-free accounts are provided and it may not be suitable for Islamic clients.
The base currencies supported by Capital.com include USD, GBP, AUD, EUR and PLN, and a minimum deposit of 20 USD is required.
Pros and Cons of Capital.com:
| ✔️Pros | ❌Cons |
| Low fees on Forex and CFDs | No Islamic accounts |
| Low minimum deposit | Low maximum leverage |
| Tier-1 regulations | |
| 4,000+ instruments |
FxOpen
FXOpen is compatible with a variety of platforms, including FIX API, MT5, Myfxbook TickTrader, and MT4.
FXOpen is a trusted broker that is regulated by tier-1 agencies, such as ASIC and FCA.
FXOpen guarantees tight spreads and commission-free trading is offered.
FXOpen is available in over 100 countries and 4 accounts types are offered, with AUD, CAD, CNY GBP, EUR, CHF, JPY or USD accepted as funding currencies for accounts.
Pros and Cons of FXOpen
| ✔️Pros | ❌Cons |
| Low minimum deposit | No fixed spreads |
| Hedging and scalping allowed | Not recommended for beginners |
| Cashback program | |
| VPS provided |
XM
XM is a multi-regulated broker that is registered with ESMA, DFS, CySEC, FCA, ASIC and IFSC.
A low minimum deposit of only 5 USD is required to start trading with XM and accounts can be funded using GBP, USD, HUF, PLN, AUD, JPY, CHF, RUB or EUR.
XM offers Stocks, Crypto, Commodities, Forex, Metals, Energies and Shares, and can be used with the MetaTrader 4 and 5 platforms and tools.
XM is available in 196 countries but is not available to citizens of the United States. However, Islamic accounts are provided, as well as demo accounts for beginners.
Pros and Cons of XM:
| ✔️Pros | ❌Cons |
| 1,000+ instruments | No fixed spreads |
| Low minimum deposit | No US clients |
| Many regulations | Inactivity fees |
| Promotions and bonuses |
easyMarkets
We recommend easyMarkets for beginners, as demo accounts are provided and there is plenty of educational material available on the website.
easyMarkets can be used with MetaTrader4 and TradingView, and a proprietary platform is also provided alternatively.
easyMarkets’ clients have the benefit of exclusive trading features, such as dealCancellation and Freeze Rates, and can start trading with only $25.
Pros and Cons of easyMarkets:
| ✔️Pros | ❌Cons |
| 19 base currencies | No US citizens |
| Fixed spreads | |
| Low minimum deposit |
FXCM
FXCM is a copy trader-friendly broker that is suitable for beginners and high-volume traders and offers an active trader program.
Additionally, clients can maximise their earnings with the referral program and cash rebates, and the account offers by FXCM can be used on Trading Station, TradingView, NinjaTrader, Capitalise AI, MT4 and ZuluTrade.
A minimum deposit of $50 is required to activate a live account and accounts can be funded using EUR, GBP, USD or CHF.
Pros and Cons of FXCM:
| ✔️Pros | ❌Cons |
| Low minimum deposit | High withdrawal fees |
| Beginner-friendly | Inactivity fees |
| Trading bonuses | |
| Many platforms |
XTB
An account can be created with XTB without paying a minimum deposit and the base currencies supported are GBP, USD, HUF, PLN and EUR.
XTB offers one flexible account that can be used to trade Commodities, Forex, Indices, CFDs Stocks, ETFs and Crypto on the xStation 5 platform.
XTB provides a trading academy that can be used with a demo account and is a great option for inexperienced traders.
Pros and Cons of XTB:
| ✔️Pros | ❌Cons |
| No minimum deposit | No US clients |
| 2,100+ instruments | Only one account |
| Trading academy for beginners | |
| FCA-regulated |
TD Ameritrade
TD Ameritrade offers several different accounts tailored for different financial needs, as well as an innovative proprietary platform called “thinkorswim” that can be used with a demo account and educational content.
TD Ameritrade does not require a minimum deposit to open an account and you can trade Forex, Crypto, Stocks and more.
Pros and Cons of TD Ameritrade:
| ✔️Pros | ❌Cons |
| Variety of accounts | Only USD for funding accounts |
| Commission-free trading | No Islamic account |
| No minimum deposit | |
| Suitable for beginners |
FXTM
With FXTM, you can start trading with as little as 10 USD and trade with a maximum leverage of up to 1:2000.
FXTM offers 3 accounts that can be funded with NGN, USD, GBP or EUR, and this broker is a great option for copy traders, providing more than 5,000 strategies to choose from.
FXTM is compatible with the MetaTrader 4 and 5 platforms and has also developed a proprietary FXTM Trader platform as an alternative to the mainstream platforms.
Pros and Cons of FXTM:
| ✔️Pros | ❌Cons |
| Tight spreads | No US clients |
| 5,000+ strategies | Penalty fees |
| Low minimum deposit |
Alpari
Alpari can be used to trade CFDs, Metals and Forex, and offers a total of more than 300 instruments.
Alpari is suitable for inexperienced traders and clients who are interested in copy trading and clients can choose from 4 accounts.
Alpari requires a minimum deposit of only 100 USD and accounts can be funded with USD, EUR, GBP or NGN.
Pros and Cons of Alpari:
| ✔️Pros | ❌Cons |
| 300+ instruments | Only 4 base currencies |
| Copy Trading allowed | Limited asset classes |
| Multiple accounts | No clients from Japan, Russia or USA |
| Trusted by millions of traders |
Markets.com
With Markets.com, you can trade over 2,200 CFD products and a minimum deposit of only 100 USD is required to activate a live account.
The Markets.com account can be funded with USD, CHF PLN, GBP, SEK, AUD, EUR, DKK, ZAR, NOK or CZK, and is compatible with the proprietary Markets.com platforms and MetaTrader 4 and 5.
Pros and Cons of Markets.com:
| ✔️Pros | ❌Cons |
| 2,200+ CFDs | No trading bonuses |
| Supports MetaTrader platforms | Inactivity fees |
| 11 base currencies | |
| Tight spreads |
Forex.com
Forex.com is regulated by CFTC, IIROC, FCA and ASIC, and is a MetaTrader-friendly broker that offers 3 types of trading accounts.
Forex.com can be used to trade over 4,500 shares and high-volume traders can get more out of their investments with the active trader program.
Accounts can be funded using USD, CHF, EUR, JPY, AUD or GBP, and only 50 USD is required to activate a trading account with Forex.com.
Pros and Cons of Forex.com:
| ✔️Pros | ❌Cons |
| Low minimum deposit | No swap-free accounts |
| Many regulations | Inactivity fees |
| Trading bonuses |
Axi
Axi does not require an initial minimum deposit for an account to be activated and accounts can be funded using HKD, USD, AUD, SGD, NZD, CAD, EUR, GBP, JPY, PLN or CHF.
Axi provides a trading Academy for beginners and experienced traders can use a variety of advanced tools.
Axi offers a total of 3 trading accounts with free VPS and access to Autochartist, and tight spreads are guaranteed with this broker.
Pros and Cons of Axi:
| ✔️Pros | ❌Cons |
| No minimum deposit | Demo account only valid for 30 days |
| Tight spreads | Commission on ⅔ accounts |
| 10 base currencies | |
| 140+ Forex pairs |
Moneta Markets
Moneta Markets has over 10 years of industry experience and is trusted by more than 70,000 clients globally.
Moneta Markets offers 2 types of accounts that can be funded using AUD, JPY, EUR, HKD, CAD, GBP, USD, SGD or NZD, and is compatible with MetaTrader 4.
Moneta Markets also provides a proprietary platform and a variety of popular trading tools.
Clients benefit from a deposit bonus and a referral program and this broker is suitable for beginners.
Pros and Cons of Moneta Markets:
| ✔️Pros | ❌Cons |
| 300+ CFDs | No Crypto |
| Low minimum deposit | Not ASIC- or CySEC-regulated |
| Spreads start at 0.0 pips | |
| Hedging allowed |
LiteFinance
LiteFinance offers 2 types of accounts that can be funded with EUR, MBT, USD, MBT, USD or EUR, but the currency that can be used will depend on the chosen payment method.
LiteFinance offers access to 5 major stock exchanges and requires a minimum deposit of only $50 to activate live accounts.
LiteFInance is recommended for beginners and offers educational material and demo accounts to practice on.
Pros and Cons of LiteForex:
| ✔️Pros | ❌Cons |
| 30% deposit bonus | Difficult to find detailed account info |
| Tight spreads | No US citizens |
| Supports MetaTrader platforms | |
| Low minimum deposit |
Vantage FX
Vantage FX is a beginner-friendly, regulated broker and clients can maximise their earrings with an active trader program, referral rewards and a welcome bonus.
Clients will be required to deposit 200 USD to trade with Vantage FX and accounts can be funded using JPY, HKD, GBP, NZD, AUD, USD, SGD, CAD or EUR.
Vantage FX can be used with several different trading platforms, including MetaTrader 4 and 5, Metaquotes, Zulutrade, Myfxbook, Duplitrade and the proprietary Vantage FX platform.
Pros and Cons of Vantage FX:
| ✔️Pros | ❌Cons |
| 9 base currencies | High minimum deposit |
| Tier-1 regulations | Commission fees on ⅔ accounts |
| Many platforms |
ActivTrades
ActivTrades requires an initial minimum deposit of 50 USD and accounts can be funded using EUR, CHF GBP or USD.
ActivTrades is compatible with MetaTrader 4and 5 but also offers its own proprietary trading platform called “ActivTrader”.
ActivTrades rewards clients with trading bonuses and also provides demo accounts and educational resources.
ActivTrades Pros and Cons
| ✔️Pros | ❌Cons |
| Referral program | No US clients |
| Cashback rewards | High minimum deposit |
| FCA-regulated | |
| Tight spreads |
IC Markets
IC Markets is a reliable broker and accounts can be funded with several base currencies, including JPY, AUD, SGD, CAD, USD and more.
A minimum initial deposit of 200 USD is required to start trading with IC Markets and there are 3 accounts to choose from.
Tight spreads are guaranteed with this broker and it is a suitable option for inexperienced traders.
Pros and Cons of IC Markets:
| ✔️Pros | ❌Cons |
| Beginner-friendly | No US citizens |
| VPS services | High minimum deposit |
| Many base currencies |
eToro
eToro requires a reasonably low minimum deposit of only 50 USD and accounts can be funded using USD, GBP, CAD, JPY, RUB, CNY, AUD or EUR.
This broker is trusted by over 17 million traders across the globe and we highly recommend eToro for beginners.
Pros and Cons of eToro:
| ✔️Pros | ❌Cons |
| Low minimum deposit | No trading bonuses |
| Trading academy | High fees |
| Top-tier regulations | Does not support MetaTrader |
| Large client base |
Dukascopy
Dukascopy requires a minimum deposit of $100 and accounts can be funded using many different currencies, including GBP, EUR, SGD, ZAR, CHF, AUD, XAU, TRY, USD and SEK.
With Dukascopy, you can trade Metals, Crypto, Energy, Forex, Stocks, Bonds, ETFs and Indexes on the proprietary JForex platform or MetaTrader 4.
Dukascopy is regulated by JFSA, FINMA and FCMC, and offers demo accounts and swap-free accounts.
We would not recommend this broker for beginners as no educational material seems to be available on the website.
Dukascopy Pros and Cons
| ✔️Pros | ❌Cons |
| 10+ currencies can be used to fund accounts | Not suitable for beginners |
| Trading bonuses | No US clients |
| Advanced market research features | Withdrawal fees |
| Wealth management services provided |
BDSwiss
BDSwiss is regulated by CySEC, FSC, FSA and BaFIN, and offers its own innovative proprietary trading platform.
This broker offers demo accounts and swap-free accounts for clients of the Muslim faith and offers more than 250 trading instruments and a trading academy for inexperienced traders.
A minimum deposit of 100 USD is required to activate a live trading account with BDSwiss and accounts can be funded using USD, EUR or GBP.
Pros and Cons of BDSwiss:
| ✔️Pros | ❌Cons |
| Many top-tier regulations | 3 base currencies |
| Trading academy | No US clients |
| Instant withdrawals | |
| Beginner-friendly |
GO Markets
GO Markets offers 2 types of trading accounts that can be funded using EUR, HKD, NZD, SGD, GBP, AUD, USD, CHF or CAD.
To start trading with this broker, you must deposit at least 200 USD into your trading account.
Once your accounts is activated, you will be able to use the MetaTrader 4 and 5 platforms, and trade a variety of instruments, including Indices, Forex, Metals, Commodities and Shares.
GO Markets is regulated by 3 top-tier regulators and we recommend this broker for beginners.
Pros and Cons of GO Markets:
| ✔️Pros | ❌Cons |
| Tier-1 regulations | No swap-free account |
| MetaTrader compatibility | Inactivity fees |
| 9 base currencies | High minimum deposit |
Plus500
Plus500 offers an innovative proprietary trading platform that can be used to trade Forex, Shares, Options, Commodities, Indices, ETFs and Cryptocurrencies.
This broker requires a minimum initial deposit of 100 USD and accounts can be funded with many currencies, including GBP, PLN, HUF, CHF, CAD, TRY, CZK, USD, SGD, JPY, AUD, EUR, SEK and NOK.
Plus500 is regulated by FMA, CySEC, FCA and ASIC, and provides 2 types of accounts with flexible trading conditions and the option to use a demo account or a swap-free account.
Pros and Cons of Plus500
| ✔️Pros | ❌Cons |
| Suitable for beginners | No MetaTrader support |
| 5+ base currencies | Inactivity fees |
| Tier-1 regulations | |
| Many asset classes offered |
IG
IG is a multi-regulated broker that can be used to trade in over 17,000 markets.
The IG account can be used with MetaTrader 4, ProRealTime and L2 Trader.
IG supports several base currencies for the funding of accounts and a minimum initial deposit of 250 USD is required to trade with this broker.
Pros and Cons of IG:
| ✔️Pros | ❌Cons |
| Many regulations | High minimum deposit |
| Trading bonuses | No Islamic accounts |
| Low fees |
Conclusion
There are many advantages to trading CFDs and this style of trading can be incorporated into your trading strategies to diversify your portfolio in ways that may not have been possible before.
If you are considering trading for the first time, we recommend choosing a broker that requires a low minimum deposit, offers demo accounts and provides an extensive range of educational material.
However, if you are more experienced and are interested in trying leveraged trading, this article does review several brokers that offer more flexible leverage options and active trader programs.
Whatever your trading goals may be, we hope that this list of the 30 Best CFD Forex Brokers will help you choose the right broker for you!
