Best CFD Forex Brokers for 2019

What is an important factor that you must consider when deciding which CFD broker to trade with? If you are like most people, you will probably consider the regulations, spreads and of course what leverage they offer. Brokers understand the role each of these play in attracting new traders. As a result of this, they try to find different ways of remaining competitive. 

Note, however, that our scope for vetting extends way beyond leverage, regulation or spreads. We have been following and vetting different CFD brokerages and have come up with a list of what we consider the best CFD brokers, breaking down CFD trading in the process.

Best CFD Brokers

eToro
Key Features
Accepts customers from the USA
Award-winning Cryptocurrency trading platform
Wide variety of crypto assets
One of the fastest growing brokers in the world
Min Deposit
$50
United States
Key Features
Accepts customers from the USA
Award-winning Cryptocurrency trading platform
Wide variety of crypto assets
One of the fastest growing brokers in the world
Top Coins
Payment Methods
Wire Transfer, Bank Transfer
eToro is a social trading platform based in Cyprus. The company has revolutionised the online trading industry by introducing innovative ways for traders to capitalise from the financial markets.
Cryptoassets are highly volatile unregulated investment product. No EU investor protection. Your capital is at risk.
PaxForex
Key Features
Low minimum deposit
Founded in 2010
Spreads from 0.3 pips
Min Deposit
$200
United States
Key Features
Low minimum deposit
Founded in 2010
Spreads from 0.3 pips
Top Coins
Payment Methods
Credit Card, Debit Card, Wire Transfer, Bitcoin, Ethereum, Neteller, Perfect Money, QIWI, Skrill, UPayCard, WebMoney
You are unlikely to find a more comfortable broker than PaxForex. Our company provides customers the best possible conditions for successful Forex\Cryptocurrencies, Spot metal\Stocks trading. We have offers for both beginners and experienced traders. The main engines of our progress at the financial trading t are spotless reputation; focus on customers and innovative approach to business development. Our achievements have been confirmed by the successes of every one of our traders. Today we are a well-known lowest spread broker trusted by hundreds of thousands of customers worldwide. We assure you that working with PaxForex ensures the highest level of service, strict compliance with all the terms of trading, and reliability provided by the most advanced technologies.
Coinbase
Key Features
Trusted provider
Online Wallet
2 Factor Authentication
Beginner friendly
Min Deposit
$
United States
Key Features
Trusted provider
Online Wallet
2 Factor Authentication
Beginner friendly
Top Coins
Payment Methods
Credit Card, Debit Card, Euro Bank Account, 3d Secure Credit Card
Coinbase is one of the first places that made it easy to buy bitcoin and has since become a widely trusted exchange in the market.
Bitcoin Revolution
Key Features
Partnered with only top quality, reliable and professional brokers
Easy to use trading platform with auto or manual trading options
No hidden fees with free to use software
Min Deposit
$200
United States
Key Features
Partnered with only top quality, reliable and professional brokers
Easy to use trading platform with auto or manual trading options
No hidden fees with free to use software
Top Coins
Payment Methods
Visa, Mastercard, Credit Card, Debit Card, Wire Transfer
Bitcoin Revolution is an automated trading platform that trades bitcoin for you. It will get you into a trade and close the position, all you need to do is turn it on.
Bitpanda
Key Features
Fully automated platform with instant transactions
A wide variety of payment options
Good for beginners
Min Deposit
$
United States
Key Features
Fully automated platform with instant transactions
A wide variety of payment options
Good for beginners
Top Coins
Payment Methods
Visa, Mastercard, Neteller, Skrill, Sofort, Giropay, EPS, Credit Card
BitPanda is a Bitcoin broker based in Austria. It offers a wide range of payment methods and has good prices.
Bittrex
Key Features
One of the largest cryptocurrency exchanges.
High volume across all pairs
Perfect for large and small buyers/sellers
Min Deposit
$
United States
Key Features
One of the largest cryptocurrency exchanges.
High volume across all pairs
Perfect for large and small buyers/sellers
Top Coins
Payment Methods
Credit Card
CEX
Key Features
Margin Trading
Legal compliance
Advanced Reporting
Various Payment options
Min Deposit
$20
United States
Key Features
Margin Trading
Legal compliance
Advanced Reporting
Various Payment options
Top Coins
Payment Methods
Credit Card, Debit Card, Wire Transfer, Cryptocurrencies
Cex.io offers exchange of fiat currency for Bitcoin and Ethereum, as well as Bitcoin/Ethereum trading against the USD.
Binance
Key Features
Huge range of cryptocurrencies
Highly liquid
2 Factor Authentication
Min Deposit
$
United States
Key Features
Huge range of cryptocurrencies
Highly liquid
2 Factor Authentication
Top Coins
Payment Methods
Cryptocurrencies
Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.
Coinmama
Key Features
Safe & Secure cryptocurrency exchange
Easy Intuitive interface
Impressive limits
Liquidity Accepted in over 200 countries
Min Deposit
$60
United States
Key Features
Safe & Secure cryptocurrency exchange
Easy Intuitive interface
Impressive limits
Liquidity Accepted in over 200 countries
Top Coins
Payment Methods
Debit Card
Coinmama is a bitcoin broker based in Israel. They specialize in selling bitcoins for credit card to nearly anyone in the world.
AEX
Key Features
Min Deposit
$
United States
Key Features
Top Coins
Payment Methods
Debit Card, Cryptocurrencies, Wire Transfer
Coinbull
Key Features
Multiple Cryptocurrencies Available
Deposit in BTC
Easy to use Platform
Min Deposit
$275
United States
Key Features
Multiple Cryptocurrencies Available
Deposit in BTC
Easy to use Platform
Top Coins
Payment Methods
Debit Card, Credit Card, Wire Transfer
Coinbull is a leading cryptocurrency trading platform, offering over 20 cryptocurrencies it has become a hugely popular provider for traders of all experiences
Coinfloor
Key Features
Min Deposit
$
United States
Key Features
Top Coins
Payment Methods

 

Best Brokers for Gold, Silver and Oil CFDs

Broker Gold Spread (100 oz) Silver Spread (5000 oz)    Oil (1000 barrel) CFDs
ForexTime (FXTM) yes
HYCM yes
easyMarkets 50 5 12 yes
10Markets 70 6 7 yes
1BillionForex yes
24FX yes
4XNetworks yes
AAAFx 51 6 6 yes
AAFX Trading yes
Abshire-Smith 35 2.3 3 yes
AccentForex 110 5 15 yes
ACM Gold 50 5 2 yes
ActivTrades 50 5 9 yes
Admiral Markets 80 4 10 yes
ADS Securities London yes
AFX Capital 60 4 5 yes
AGEA 80 5.5 n/a yes
AGM Markets 50 10 n/a no
AL Trade 50 7 3 yes
Alfa Financial
Alpari n/a yes
Alpha Capital Markets yes
ALVAST TRADE n/a yes
AmigaFX 90 5 14 no
ArgusFX yes
AssetsFX n/a no
ATC Brokers (non-US) 10 10 10 yes
ATIORA yes
Atom8 n/a yes
AvaTrade 70 7 4 yes
Axiory 55 8 n/a yes
Axiory Europe yes
AxiTrader 50 5 5 yes
AZAFX yes
Back Bay Markets yes
BANX Trading yes
BCapitalsFX yes
BILLION CAPITALS yes
BlackBull Markets no
Blackwell Global 50 4 yes
BMFN – Boston Merchant Financial 55 4 3 yes
BTFX 30 2 yes
Bulbrokers EAD yes
Caesar Trade yes
Capital Index yes
Capital Investment Brokers (CIBFX) yes
CAPPROFX yes
ITI FX yes
CFD1000 yes
CFDTimes yes
CFH Clearing 20 0.6 2 yes
CFI Markets yes
CIM Bank 5 yes
Circle Markets yes
City Credit Capital 3 4 yes
Citypoint Trading 90 5 7 yes
CM Trading 60 6 6 yes
CMC Markets 50 n/a yes
CMC Markets UK n/a yes
ContinentalFX yes
CornerTrader yes
Deltastock 80 6 yes
DF Markets 60 4 yes
Direct FX 40 5 yes
Divisa Capital (DCFX) 25 2.5 n/a no
DMM FX n/a yes
easyMarkets yes
EightCap yes
Elxi Markets yes
eToro 90 5 14 yes
ETX Capital yes
Euro Pacific Bank n/a yes
EverFX yes
EVFOREX n/a yes
EXNESS 70 6.5 1-3 yes
FastBrokers 33 10 10 yes
FBS 10 2 n/a yes
FIBO Group 39 4.1 10 yes
FIBO Group Holdings 39 4.1 10 yes
Fidelis 20 10 n/a no
Finpro Trading yes
FIPFX GLOBAL yes
FirewoodFX n/a no
Forex Club n/a yes
FOREX.com 45-60 3-8 13 yes
Forex.ee n/a no
Forex4you 100 5 150 yes
ForexCT 50 5 yes
Forex Broker Inc 60 6 6 yes
Forex Corporate yes
Forex FS 70 7 n/a no
Forex Time (FXTM) yes
ForexYard 100 6 6 yes
Forex Global Market (FXGM) 50 4 6 yes
Forex Rally yes
FP Markets yes
Formax Prime Capital (UK) yes
ForexMart n/a yes
Fort Financial Services 60 4 5 yes
Fortress Capital no
FreshForex n/a yes
Fullerton Markets yes
FW Markets n/a no
FX Money World yes
FX-EDGE yes
FXBM yes
FXCC 25-75 2-3 yes
FXCM n/a n/a 5 yes
FXDD 50 5 10 no
FxGlory yes
FxNet 70 12 7 yes
FXOptimax 100 n/a no
FXFair yes
FXFINPRO Capital yes
FXFlat 5 yes
FXOpen 100 4 yes
FXOpen UK n/a no
FxPlayer 50 5 5 yes
FXPRIMUS 50 5 5 yes
FxPro 50 4 yes
GAINSY 40 4 n/a no
Gallant Capital Markets 50 5 n/a yes
GCI Financial 50 3 5 yes
GCM Forex yes
GKFXPRIME 50 5 5 yes
Global Clearing Group – 2pipsforex 30 3 n/a no
Golden Tangent yes
GDMFX yes
Global Prime Forex n/a no
GO Markets yes
Grand Capital 60 35 5 yes
Grinta Invest yes
Hadwins yes
HalifaxOnline 65 6 4.5 yes
Hantec Markets 50 4 yes
HighSky Brokers 60 40 5 yes
HeartForex n/a no
HiWayFX yes
HotForex 32 14 5 yes
HYCM 70 5 6 yes
Hydra Markets yes
IamFX 50 4 5 yes
IC Markets 50 0.5 0.5 yes
IC Markets Forex Rebates 50 0.5 0.5 yes
ICM – iTrade Capital Markets 50 30 5 yes
ICM Brokers 50 30 4 yes
ICM Capital 50 4 10 yes
IFC Markets 65 6 10 yes
iFOREX 70 5 8 yes
IFX Markets 70 50 7 yes
IG Markets 50 5 6 yes
IKON Group yes
IMMFX yes
Indigo DMA yes
InstaForex 100 4 n/a yes
Interactive Brokers 35-50 2-5 3-7 yes
InterTrader yes
InterTrader Direct yes
INTFX yes
Invast yes
Investorseurope yes
IronFX 50 4 2 yes
IsikFX yes
Juno Markets yes
JustForex n/a no
KAWASE yes
Key To Markets yes
KGI Ong Capital n/a no
KRCNZ n/a no
KVB Kunlun 50 5 6 yes
LAND-FX yes
Lider Forex 50 40 5 yes
LiteForex 75 5 10 yes
LMAX 36 20 n/a yes
LMFX yes
London Capital Group (LCG) 50 4 5 yes
Lucror FX n/a no
MahiFX n/a no
MaxFX yes
MAYZUS 75 7.5 10 yes
MB Trading n/a no
MBA yes
MEX EXCHANGE yes
Mocaz Financial Markets no
MTrading yes
NAS Broker yes
Nexsus Financial Markets yes
NoaFX yes
NordFX 50 4 n/a no
NSFX yes
OANDA 85 7 n/a yes
OctaFX 50-65 4-5 n/a no
OloFx yes
One Financial Markets 50 5 4 yes
Orbex yes
Pacific Financial Derivatives (PFD) 40 4 5 yes
PaxForex 100 5 n/a yes
Pepperstone 60 6 n/a no
PCM Brokers 30-40 4-5 2-3 yes
PhillipCapital yes
PhillipCapital UK yes
Price Markets yes
Profiforex 60 n/a n/a yes
Questrade 80 n/a n/a yes
Range Markets yes
Real Trade Group 65 5 n/a no
Renesource Capital 75 3 9 yes
Royal Forex Trading 65-70 4.5-5 yes
RoboForex 50-100 2.5-5 n/a yes
Rubix FX n/a yes
Saxobank 65 6 4.5 yes
SimpleFX yes
Smart Markets yes
Solforex n/a no
Sterling Gent Trading 50 5 5 yes
StoxMarket yes
Sucden (UK) Limited 60 5.5 ?
Sun Hung Kai Forex 30 5 n/a no
Sunbird 50 5 4 yes
SuperForex yes
SVSFX 40 2.7 yes
Swiss International 75 5 3 yes
Sword Capital yes
tegasFX n/a yes
TeleTrade yes
TFI Markets 100 6 n/a yes
TFX Markets yes
ThinkMarkets 50 5 yes
thinkorswim, Inc. 33-35 10 4-10 yes
Tickmill 60 21 n/a yes
Tifia yes
Titan FX yes
TopFX n/a no
TRADE.com yes
Trade Fintech yes
Trade12 yes
TradeFxP yes
Tradenext 63 11 15 yes
TraderNovo yes
Trader’s Way 40-60 4-7 4-8 yes
Traders Trust 90 36 10 yes
TradersChoiceFX 45-60 3-8 5-13 yes
TradeV yes
TradeWiseFX yes
TradingBanks yes
TradingForex.com 62 3.3 n/a yes
Tradeview Forex 30 3.8 3 yes
Trading 212 yes
Tradize yes
TrioMarkets yes
Trust Capital yes
UFX 70 7.5 10 no
Uniglobe Markets yes
UpFX 100 40 3 yes
USGFX yes
Valbury Capital n/a n/a no
Valutrades n/a yes
Vantage FX 50 5 no
VARIANSE yes
Velocity Trade 80 n/a n/a no
Victory International Futures yes
Vinson Financials yes
Vipro Markets yes
Vunani Private Clients yes
Wenn Markets yes
WH SelfInvest 50 10 4 yes
Windsor Brokers 35-50 2-3 3-5 yes
xCFD yes
XGLOBAL Markets 30.4 3 n/a no
XM 40-50 3-7 10 yes
XTB UK 30-200 2-4 7 yes
YouTradeFX 70 7 5 yes
ZAR FX yes

Latest news: Gold & Silver trading ban in US

 

What is a CFD?

A contract for difference (CFD) is a financial product that allows a trader to speculate on the price movement of various financial instruments. When trading CFDs, you are essentially speculating on the changes in price/value. This can be commodities like gold, shares and stocks, currencies, cryptocurrencies, and even energies like oil without needing to own the said asset.

How does CFD trading work?

CFD trading is an agreement between a broker and a trader. Either party agrees to compensate the other based on the price movement of a given financial instrument. This can be described as a bet where the trader wins (earns a profit) when they get their price prediction right and lose (reports a loss) when the price goes against their prediction.

Here is an example: If EUR/USD was trading at 1.25 and the trader believes the market will go up, he/she will buy it at the current price. If the market goes up to 1.30, they are in profit, but if it skids off to 1.20, they will be losing. 

What are the pros and cons of CFD Trading?

Pros:

Cons:

What makes a good CFD broker?

With so many CFD brokerage firms out there, how do you differentiate them? Here are some of the factors that we think you should put into consideration when vetting CFD brokers to register with:

  1. The number of markets offered: A good CFD trading platform should also maintain an expansive list of tradable instruments.
  2. The simplicity of the trading platform: An ideal CFD broker must also have an easy-to-use trading platform. Whether MetaTrader, cTrader etc
  3. Trading leverage: A good CFD brokerage firm should offer its traders with flexible leverage ratios.
  4. Regulation and reputation: Your ideal CFD broker must be registered, licensed, and regulated by a reputable financial regulatory body

Is CFD trading safe?

CFD trading is a high-risk venture that demands a lot of understanding, willingness to learn, and patience. The risk can nonetheless be toned down to manageable levels if you commit to implementing the different risk management techniques. These range from setting up a stop loss and guaranteed stop loss for trades, prudent use of leverage, and not entering into trade position during periods of huge volatility.

CFD trading fees and commissions

Some of the most common fees include:

Spreads:

Spreads are most common with CFD forex trading. It refers to the difference between the ask price (the selling price) and the bid price (the buying price).

For instance, if the current bid price for the EUR/USD pair was 1.090 and the asking price 1.095, the spread will be 5 pips(smallest incremental difference).

Overnight (swap) fees:

Most brokers will also charge an overnight fee for all CFD positions that remain open at the end of the trading day. This is known as the swap and acts as an overnight interest

CFD regulation and security

Different countries have varied approaches to regulating CFD trades. In the United States, for instance, CFD trading is banned. The United Kingdom has, on the other hand, embraced a raft of measures addressing CFD trades that include lowering leverage offered to traders.

Most regulators also demand that all brokers maintain separate cash accounts for the company and customer funds. And that customer funds shouldn’t be used to cover the broker’s operational expenses.

In the event of a broker going bankrupt, some brokers also offer compensation up to a certain level.

What Instruments can I trade as a CFD?

The most common CFD products include:

  • Forex
  • Cryptocurrencies
  • Commodities
  • Shares and stocks
  • Bonds and options
  • Energies
  • Indices and ETFs
CFD Instruments
Source: Panchenko Vladimir | Shutterstock.com

Conclusion

CFD trading has made it possible for virtually anyone to invest in the stock, commodities, forex, and crypto markets. The high leverage provided by different brokers means that you don’t need to be an accredited investor to invest in either of these markets. The advanced trading tools that can be used have levelled the playing field for both experienced and beginner traders. You only need to find the right broker, and you are good to go.

FAQs

What does going short or long on a CFD mean?

Going short involves speculating on the possibility of a particular market losing value and turning a profit if it does. Going long, on the other hand, involves speculating on the possibility of a rise in value – buying at the current price and turning a profit when it gains value. CFD brokers are good because they offer risk management tools that allow you to trade both long and short by offering specific orders that mean you can exit the market despite the direction.

How do I start CFD trading?

You first need to learn about the basics and practice in the risk-free demo-trading environment. Proceed to choose the right platform and strategy and only invest what you can afford to lose.

What is the difference between CFD trading and Forex trading?

CFD trading is a comprehensive form of trade that covers virtually every investment market and class, Forex trading is, therefore, one form of CFD trading.

How much can I make as a CFD trader?

Several factors play a key role in determining how much you make as a CFD trader. These include the choice of a broker platform and their trading costs, your CFD trading experience, and the volatility of your preferred trading asset.

In what countries is CFD trading allowed?

CFDs are currently traded in the United Kingdom, Canada, Australia, Switzerland, New Zealand, throughout the EU, Russia, Japan, South Africa and other countries.

 

 

 


Brokers vary in what they offer their clients, there are lots of different trading conditions that brokers will offer, below we have pulled together the best brokers for each trading condition:

 

 

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