30 Best CFD Forex Brokers

30 Best CFD Forex BrokersBy 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

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 (Admiral Markets)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

30 Best CFD Forex Brokers

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

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

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

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

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

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

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

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!