15 Best CFD Brokers

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 15 Best CFD 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 account 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 offered 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

 

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 15 Best CFD Brokers will help you choose the right broker for you.

Good luck with your trading!

 

Disclaimer

Remember, 75% of retail investors lose money when trading CFDs and there is a high risk of losing your capital in the forex markets.

The information on this website is in no way intended to be used as financial advice and opening an account with any broker is done at your own discretion and risk.