10 Best CFD Forex Brokers
and Trading Platforms

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

Contract for Difference or CFD,  is an agreement held between two parties, a buyer and seller, to exchange the difference between the original value of the underlying asset when the contract was opened and the value of the underlying asset on the contract closing. A CFD broker acts as the ‘middle-man’ between traders and the market, providing a trading platform and the necessary services to conduct tradingCFDs allow traders to speculate on price movements of the underlying financial instruments and they are traded over-the-counter with a broker or market maker, known as a CFD provider.

As mentioned above, CFD brokers serve as intermediaries and traders will get access to financial markets through trading platforms, provided by these brokers. Trading terminals offer users trading instruments and technical analysis tools necessary in tradingCFD brokers do vary in regards to the services, trading instruments and trading conditions provided. Traders choose the CFD broker which best suits their trading expectations and preferences. In order to check the reliability of a broker, traders can open a real account, invest a small amount of money and start trading. To date, there are a large number of brokers which provides quite similar trading conditions and it is the duty of each CFD broker to outline contract terms, margin requirements and the underlying instruments of trading. CFD trading includes a diverse range of instruments – stocks, indices and commodities.

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

What are the Similarities between CFDs and Forex?

There are multiple similarities between CFD trading and Forex trading and both types of trading involve a similar trade execution process. In both, traders can easily enter or exit the market and trades are executed on the same platform, using similar charts and pricing methods. In both CFD and Forex, trades are executed in the over-the-counter market, which means it is run electronically within a network of banks, with no physical location or central exchange.   Another similarity is that the only cost of trading is the spread.

Here is a quick overview of the 10 Best CFD Trading Forex Brokers and Trading Platforms - AvaTrade

AvaTrade, one of the largest and most regulated online brokerages in the world. AvaTrade is licensed as a regulated broker in the EU, Japan, Australia, South Africa and the British Virgin Islands.  They are regulated in 6 different jurisdictions and offices worldwide which boast over 200,000 clients with monthly trades of over 2 million.

AvaTrade offers customer support in multiple channels in multiple languages as well, all of which make it a good option to traders of all levels.

Pros

Cons

Easy and Fast account opening

Only CFDs, Forex and Crypto offered

Free deposit and withdrawal options

Poor phone support

No withdrawals fees

Inactivity fee

 

XM Group

XM Group

XM is known for its superb platform that is great for both beginner traders as well as experienced tradersXM is authorised and regulated in 3 countries: Australia (ASIC), Cyprus (CySec) and the United Kingdom (FCA).

For the beginner trader, XM offers a great deal of educational resources as well as a demo account with $100,00 USD of virtual currency to learn with.  The platform boasts over 1.5 million clients with traders in 196 countries.

Pros

Cons

Great Educational tools

Limited product portfolio

Easy and fast account opening

Inactivity fee after 90 days

No withdrawal fees

Only average Forex fees

Low minimum deposit

 

alpari

Alpari

Alpari Financial Services Ltd (Alpari) is one of the world’s leading independent forex brokers globally and offers a wide range of products.  Alpari is  regulated and licensed by the Financial Services Commission of Mauritius.  Alpari offers a variety of account types and have an excellent customer support team with support in over 30 languages.  Demo accounts and copy trading is also on offer for beginner traders to learn with.

Pros

Cons

Low minimum deposit

Limited educational resources

Best Broker for copy trading accounts

Lack of resource tools

Diverse selection of tradeable assets

High fees

Demo accounts and social trading available for the beginner trader

Withdrawal fees

Good support in over 30 languages

 

Forex Time (FXTM)

FXTM

FXTM is an award-winning broker that places a huge emphasis on their customer support offering support over multiple channels, in multiple language 24/7.  They offer a huge range of educational resources, materials and tools available making it a great place for a beginner trader to start and grow.  FXTM is regulated by several financial authorities, including the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).

Pros

Cons

Great customer Service

Inactivity and withdrawal fees

Strong Educational tools for the beginner trader

High CFD fees

Fast account opening

Limited product range.

FP Markets

FP Markets

FP is an ASIC-regulated, STP broker with simple account options and an exciting set of tools for traders.  Their minimum deposits are higher than average, but traders will find a lot of value for their money.  Great educational tools, exceptional customer service, large product offerings and great pricing all make the initial deposit worth it as you get a lot out of the relationship.

Pros

Cons

Great Educational tools

Limited portfolio

Great Customer Service

Web Platform needs to be updated a bit

Large Product offering

High fee for international bank withdrawal

Easy and quick account opening

 



Go Markets

GO Markets has grown to become a leading broker with a huge client base from over 150 countries and they are known to be especially strong as Forex and CFD brokers for both new and experienced traders.  They have a long track record in the industry and are known for their fast and efficient execution of trades and low fees.  GO Markets’s offering of educational materials are good but they shine with good research tools and analysis too.  GO Markets is licensed by the Australia Securities and Investment Commission (ASIC).

Pros

Cons

Low minimum deposit

Only two account types

Very fast execution of trades

 

Good trading analysis tools on offer

 

Demo option available

 

Low Forex fees

 

xtb best broker

XTB

XTB is a leader in the Forex trading space mainly due to its proprietary award-winning trading platform.  They also offer excellent educational material in its training academy and a host of analysis resources as well.  Great customer service backs up their already solid offering.  XTB is regulated in markets across Europe by the IFSC, FCA, KNF, and CySec.

 

Pros

Cons

Award winning platform which is very user friendly

Limited product portfolio

Free and fast deposit and withdrawal

No website trading platform

Training Academy

Poor support

Low trading fees

.

No withdrawal fees

 

trading212 best forex

Trading 212

Trading 212 has created state of the art web and mobile trading platforms that are both easy to use and navigate.  They also have made opening an account easy and fast, with no minimum deposit as well.  Trading 212 is authorised and regulated by the Financial Conduct Authority (FCA).

 

 

Pros

Cons

No minimum deposit

Limited product portfolio

Great user-friendly platform

Basic research tools

Quick and easy account opening

No live chat for support

Large product portfolio

Sometimes problems with verification

No Inactivity fee

 

eToro best brokers

eToro

eToro is one of the biggest and most well-known names in the online trading market.  They have a AAA grade support rating through multiple channels, with a wide range of languages on offer as well.  They make account opening fast and easy with no deposit fee or minimum deposit requirements.  eToro is supervised by the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC).

Pros

Cons

Easy and fast account opening

Withdrawing money is slow and expensive

No deposit fees

 Account only based in one currency

Low minimum deposit

High Forex fees

Cityindex best broker

City Index

City Index is well known in the marketplace for having a top-notch trading platform.  The also offer great market analysis, very good research tools and multiple platform options. Their educational resources are also first grade through their own Trading Academy which provides a host of videos covering a host of subjects as well as webinars.  The primary regulator of Gain Capital UK, the owner of City Index, is the Financial Conduct Authority (FCA).

 

Pros

Cons

First class trading platform

12 weeks is better than some but may not be enough time to skill up and gain confidence in forex trading

Great educational resource

Basic research tools

No minimum initial deposit to start trading for bank transfers

No Volume discounts

Low Forex fees

 

 

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

What makes a good CFD broker?

Essentially, traders should look for a CFD broker with the best balance of available services and client requirements. Some of the characteristics to look for include:

  • Reasonable capital requirements
  • Reasonable charges
  • Variety of CFDs

Here are 10 More of the Best CFD Forex Brokers worth consideration -

ic markets

IC Markets

IC Markets offer their proprietary copytrading platform Zulutrade which is one of the best in the market.  With 500,000 trades per day they understandably cater most to high volume traders.  IC Markets isn’t limited to copytrading and high volume, however.  They offer many services and features designed for both beginner and experienced traders.  They have an excellent trading platform and wide range of products and have a quality 24/7 support team over multiple channels round their offering out.  IC Markets is authorised and regulated by the Financial Services Authority (FSA) of Seychelles.

Pros

Cons

Low Forex fees

No negative balance protection

Easy and fast account opening

Only Forex, crypto and CFD trading

Free deposit and withdrawal

 

Low minimum deposit

 

oanda best broker

OANDA

Oanda was one of the early online forex brokers and was the first to have a fully automated forex trading platform, which is easy to use and excellent.  They operate across eight global financial centres, with clients in over 196 countries.

 

OANDA is the Most Regulated Forex Broker and operate across six of the most credible authorities including:

 

  • Australia AISC (Australian Securities and Investments Commission)
  • United States CFTD (Commodity Futures Trading Commission)
  • Europe and UK FCA – (Financial Conduct Authority)
  • Japan IFFA (Institute Financial Futures Association)
  • Singapore MAS (Monetary Authority Of Singapore)
  • Canada IIROC (Investment Industry Regulatory Organization of Canada)

 

Pros

Cons

Low fees

High bank withdrawal fee

Easy and digital account opening

Poor customer service

Easy to use web trading platform

Limited offering of only Forex and CFDs

Low minimum deposit

ID verification issues can delay account opening

 

 

pepperstone best broker

Pepperstone

Pepperstone trades in accordance with the regulatory principles set down by the European Securities and Markets Authority and the Financial Conduct Authority and was founded and launched in London.  Pepperstone has built its highly regarded reputation on providing institutional grade trading to the online forex trader.  They offer a huge number of tools and a ton of different platforms to choose from.   This comes from an ethos of being a bespoke solution for each individual trader by giving a host of technological options.

Pros

Cons

Free withdrawals and deposits

Limited product portfolio of CFD, Forex and Crypto

Great customer service

No Research or technical analysis data

Low minimum deposit

 

Low Forex fees

 

No Minimum deposit

 

fx pro

FXPro

FXPro is another of the most well-known brokers in the forex trading market and are solidly considered as one of the top MetaTrader brokers, offering the full suite of MT4 and MT5 platforms.

Their trading executions are quick and they have great customer service to back it all up. FXPro is globally licenced and regulated by the Financial Conduct Authority, the Cyprus Securities and Exchange Commission, the South Africa Financial Sector Conduct Authority and the Securities Commission of The Bahamas.

Pros

Cons

Great customer service

Temperamental website

Quick transactions

 Minimum transaction size

Access to multiple trading platforms

 

easyMarkets

EasyMarkets

Easy Markets started with the ideology that they would be a very beginner-friendly forex broker which is evident in its wide range of excellent educational and training resources.  They also have a great support platform on multiple channels.  easyMarkets is regulated by CySEC.

Pros

Cons

Excellent customer support

Deal cancellations not available on the MT4 platform

Real world scenarios to trade in

 

Markets.com

Markets.com was founded in 2008 and rebranded in 2019 to MarketsXMarktes.com is a part of the TradeTech Group which is a company listed on the London Stock Exchange.  The Markets.com group is regulated by the Cyprus Securities and Exchange Commission (CySEC), the British Virgin Islands Financial Services Commission (FSC), the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC) and the Financial Sector Conduct Authority of South Africa (FSCA).

Users can trade commission-free on over 2,200+ CFD instruments covering Shares, Indices, Bonds, Blends, Commodities, Currencies, ETFs and Cryptos plus invest in real stocks and shares via a Marketsi account.

Pros

Cons

CySEC, FSC, FCSA, FCA and ASIC regulated.

 

Limited trader education.

 

Commission-free CFD trading on 2,200+ instruments.

 

Spreads are a little higher than others in the industry

Can invest in real stocks and shares with Marketsi.

 

 

Feature-rich MarketsX trading platform.

 

 

Unique and insightful sentiment trader tools.

 

TMGM is authorised and regulated in multiple jurisdictions including the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC). Users can trade on more than 15,000+ financial CFD instruments over 7 asset classes including Forex, Metals, Energies, Cryptocurrencies, Commodities, Indices and Shares from the US, Australia and Hong Kong.

ProsCons
15,000+ financial instruments to trade onLimited trader research and education resources.
Commission-free trading available 
ECN trading accounts 
MT4/MT5 and IRESS trading platform 
24/5 customer service 
BDSwiss

BDSwiss

BDSwiss offers users trading accounts regulated under the Mauritius Financial Services Commission and the Cyprus Securities and Exchange CommissionTraders can trade on more than 250+ financial CFD instruments covering Forex, Commodities, Cryptocurrencies, Indices and Equities. Three account types are on offer,  called Classic, VIP and Raw on the MetaTrader 4 and MetaTrader 5 trading platformsCustomer service is available 24/5.

Pros

Cons

Multiple regulations.

Best spread accounts require higher minimum deposits.

Commission-free trading available.

 

Access to raw spreads available.

 

Can trade on MetaTrader 4 and MetaTrader 5.

 

Tickmill

Tickmill

Tickmill is regulated by the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA).  80+ CFD instruments are made available to trade, covering Forex, Indices, Commodities and Bonds.  Three core trading and a demo account is on offer.

Pros

Cons

Multiple regulations and licences.

No stocks available.

Commission-free trading accounts available.

MetaTrader 5 not available.

Competitive spreads and overnight swap charges.

 

Impressive range of trader research tools and analysis.

 

FXCM

FXCM

FXCM Group is an international online forex and CFD brokerage brand which maintains offices in several jurisdictions, including Australia and South Africa.  Tradable products on offer include spot forex markets, cryptocurrencies, Treasury bond (the bund) and Contract for Difference (CFDs) for market indices and commodities. FXCM is regulated by top-tier financial authorities like the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

Pros

Cons

Regulated Broker

Limited product portfolio

Multiple choices of trading platforms

No longer accepts US clients after losing US regulatory license

Numerous free trading tools provided

 

Low minimum deposit requirement

 

Comprehensive educational section

 

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

In Conclusion

Most CFD brokers will promise potential users attractive leverage options, a user-friendly platform, and a wide range of products and traders must make sure to do a thorough comparison before signing up.

EXNESS is this month's #1 Broker