AuthorBy Jeffrey Cammack
Updated: March 19, 2021

CFD trading is a form of investment made popular by tales of generous profits from trading both sides of the market – all from the comfort of working from home. CFD Brokers provide the trading software needed to connect traders with the CFD market, so the first step for a new trader will be to choose from a long list of potential brokers.

To start our review process, we evaluated the broker’s financial regulation, trading platforms, educational material, minimum deposit requirements, and fee structure. To test these CFD brokers further, we created live trading accounts, depositing the minimum required amount, and started researching the trading conditions and functionality offered to emulate a beginner trader’s experience. These are the best CFD brokers in Australia for 2021, according to our testing and our research, where extra consideration was given for low trading costs and local ASIC regulation. 

English

Best Brokers in Australia for Trading CFDs

Last updated on 19 Mar 2021
Updated 19 Mar 2021
by Editorial Director Jeffrey Cammackby Jeffrey Cammack
Jeffrey Cammack
All Brokers Regulated
All Brokers Regulated
by Trusted Authoritiesby Trusted Authorities
Trusted
1
FP Markets
Min. Deposit
USD 100
4.174.17
Min. Spread
0 pips
Fx Pairs
60+
REGULATED BY
Overall Rating
11110.54.17/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.10 pips with 6 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & IRESS platforms supported. FP Markets is regulated by CySEC and ASIC.
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FP Markets is a leading ASIC-regulated broker, providing tight spreads on their RAW account, coupled with the choice of MT4, MT5 and IRESS trading platforms. A standard commission-free account is available for entry-level traders looking for a lower minimum deposit.

Relative to other Forex brokers, FP Markets has made a serious investment in new traders with award-winning customer service and a lightweight education section, which includes daily email updates of the latest financial news impacting the currency markets.

Pros
  • Well regulated
  • Tight spreads
  • Good range of accounts
  • Great customer support
Cons
  • Expensive withdrawals
Read More About FP Markets
2
Black Bull Markets
Min. Deposit
USD 200
3.423.42
Min. Spread
0.20 pips
Fx Pairs
31
REGULATED BY
Overall Rating
1110.503.42/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.80 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Blackbull Markets is regulated by the FMA & the FSA-Seychelles.
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Founded in New Zealand in 2014, BlackBull Markets is an ECN-only broker providing direct market access on the MT4 platform. Average spreads are unpublished, though start at 0.1 pips on the commission-based account. The commission-based accounts have high minimum deposits and educational material and market analysis are weak compared to similar brokers. BlackBull are well regulated by the New Zealand FMA and professional traders will be interested in the free VPS and FIX API service.

Pros
  • Tight spreads
  • Good for beginners
  • Wide range of assets
Cons
  • Expensive withdrawals
  • Limited market analysis
Read More About Black Bull Markets
3
Pepperstone
Min. Deposit
USD 200
4.514.51
Min. Spread
0 pips
Fx Pairs
80+
REGULATED BY
Overall Rating
11110.54.51/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.09 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, and the DFSA.
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Pepperstone is a renowned Australian Forex broker, fully-regulated by ASIC and popular worldwide for its fast ECN execution of trades, tight spreads and a wide choice of trading platforms. Award-winning 24-hour support anchors their customer support, where a personalised service for individual customers is available through numerous channels.

Founded in 2010, Pepperstone won the fastest-growing company award (2014) in Australia, from BRW Magazine and emerged as the 2014 Winner of the Governor of Victoria Export Awards cementing their reputation as a strong newcomer with well-appreciated trading conditions.

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
Cons
  • High minimum deposit
  • Limited market analysis
Read More About Pepperstone
4
IG Markets
Min. Deposit
USD 250
4.694.69
Min. Spread
0.60 pips
Fx Pairs
93
REGULATED BY
Overall Rating
11110.54.69/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, ProRealTime and L2 Dealer platforms supported. IG Markets Group is regulated by FCA, ASIC, and the FSCA.
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If you’re a beginner Forex trader, you can’t find a much better broker than IG Markets. Despite being a market-maker with a single account, IG is one of our highest rated brokers for good reason. Spreads are very tight considering the low minimum deposit and the educational support and market analysis are probably the best in the industry. A wide choice of platform (including MT4) is also available and customer service is world-class.

All of this is coupled with regulation from the FCA and ASIC and a long history of satisfied clients. As the winner of the Broker of the Year 2018 (UK Forex Awards) and Best CFD Provider 2017 (Investment and Wealth Management Awards), IG Markets is an attractive choice for both beginner and experienced traders.

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Excellent education
  • Excellent market analysis
Cons
  • High minimum deposit
Read More About IG Markets
5
XM
Min. Deposit
USD 5
4.384.38
Min. Spread
0.60 pips
Fx Pairs
57
REGULATED BY
Overall Rating
11110.54.38/ 5
AlertLeverage limitations apply to all the EU regulated entities of the group.
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XM Group lets traders deposit as little as $5 to open an account; offers 500:1 leverage, and has a generous bonus scheme for new accounts.  Fully regulated by ASIC, CySEC and the FCA, XM Group offers accounts to suit most traders including those interested in tight spreads and automated trading.

XM Group partners with investment-grade banks and uses segregated accounts to ensure security, your personal account manager ensures your satisfaction, and customer service is available 24/5, via live chat, email and in 30 languages.

Pros
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
Cons
  • Dealing desk
Read More About XM
6
CMC Markets
Min. Deposit
USD 5
4.694.69
Min. Spread
0.70 pips
Fx Pairs
330
REGULATED BY
Overall Rating
11110.54.69/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & CMC Proprietary platforms supported. CMC Markets is regulated by the ASIC, FCA, MAS and the FMA.
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CMC Markets is a British CFD broker with regulation from ASIC, the FCA, MAS and the FMA – making it is one of the world’s best-regulated brokers. Clients at CMC Markets can trade on Forex, indices, shares, commodities, treasuries, cryptocurrencies, and share baskets. The single trading account has a 5 USD minimum deposit and offers commission-free trading on 330 Forex pairs, one of the largest sets of Forex pairs in the industry.

CMC Market’s offers spreads as low as 0.70 pips pips on the EUR/USD, much lower than most other commission-free brokers. Traders will appreciate these low trading costs, advanced order management tools, and CMC Markets’ powerful and innovative platform, but beginners may be disappointed by the limited educational material.

Pros
  • Well regulated
  • Tight spreads
  • Good for beginners
  • Excellent education
  • Excellent market analysis
Cons
  • No swap-free account option
Read More About CMC Markets
7
eToro
Min. Deposit
USD 200
3.693.69
Min. Spread
1 pips
Fx Pairs
52
REGULATED BY
Overall Rating
1110.503.69/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 1 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. Only eToro proprietary trading platform supported. eToro is regulated by CySEC, FCA, and ASIC.
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eToro is a world-famous internationally and ASIC-regulated CFD broker offering clients a unique experience trading Forex, stocks, commodities, cryptocurrencies, ETFs and indices. While eToro’s main attraction is a bespoke crowd trading platform built to encourage clients to follow expert traders or select market strategies, their trader community is continually let down by inadequate disinterested customer support and tortuously long response times.

eToro has a reduced minimum deposit to 50 USD for all Australian clients, making the platform more appealing to entry level traders. Upon sign up, eToro’s clients become part of a massive community of traders all following expert traders or professional traders contributing to their social trading platform. 

For the most part, the trading conditions at eToro align with other market makers with a unique platform offering, but in contrast, eToro has numerous non-trading fees on both deposits and withdrawals. All in all, a trader who is looking for a traditional trading environment eToro won’t find a fit. Still, for those looking for a strong copy trading platform, eToro wrote the book on copy trading and still stands out as the leader.

Pros
  • Well regulated
  • Good for beginners
  • Innovative trading tools
Cons
  • Limited education
  • Wide spreads
Read More About eToro
8
Plus500
Min. Deposit
USD 100
3.693.69
Min. Spread
0 pips
Fx Pairs
70+
REGULATED BY
Overall Rating
1110.503.69/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.80 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. Plus500 proprietary platform support. Plus500 Group is regulated by FCA, CySEC, ASIC, and MAS. All information presented is verified as of the date of the review.Most retail CFD accounts lose money. Your capital is at risk.
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With 50+ Forex CFD pairs available, tight spreads and fast execution, Plus500 is a popular broker with both its new and long-standing customers.  Even though a lot of effort has been put into creating a user-friendly platform, CFDs are complex financial products, and thus the platform is not suitable for inexperienced traders.

Award-winning customer service is available 24/7 and the Plus500 platform is web-based with no need for any downloads or setup, making this a good provider for those starting out who want to keep it simple. 

Plus500 has one account with a 100 USD minimum deposit requirement and keeps simplicity at the core of its business.

Pros
  • Well regulated
  • Wide range of assets
Cons
  • Limited education
  • Limited account options
Read More About Plus500
9
FXCM
Min. Deposit
USD 50
4.134.13
Min. Spread
0 pips
Fx Pairs
40
REGULATED BY
Overall Rating
11110.54.13/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 1.30 pips on trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4 & Ninja Trader platforms supported. FXCM is regulated by FCA, ASIC, and the FSCA.
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FXCM is an ASIC-regulated provider of online Forex trading and CFD trading and is recognised as a leader in the industry. No commission is charged on the standard account and no fees are charged on deposits or withdrawals. Customer service is available 24/5 via live chat, phone, email and drop-in to FXCM’s local office in downtown Sydney.

Clients have the advantage of one-click order execution and trading from real-time charts across MT4, NinjaTrader or FXTM’s award-winning Trading Station platform – which has many of MT4’s best features without the lengthy setup or complications.  FXCM is also renowned for the number of specialty trading platforms on offer for more experienced traders.

Pros
  • Well regulated
  • Great platform choice
  • Excellent education
  • Innovative trading tools
Cons
  • Limited demo account
Read More About FXCM
10
Axitrader
Min. Deposit
USD 5
4.344.34
Min. Spread
0 pips
Fx Pairs
80+
REGULATED BY
Overall Rating
11110.54.34/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 1.20 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Axi Group is regulated by the FCA, ASIC and the DFSA
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Founded in 2008 in Sydney, AxiTrader is an ASIC and FCA regulated ECN broker for serious traders. While trading platform choice is limited to MT4, Axitrader’s platform setup and support have received multiple awards including Best MT4 Broker 2018 (Compare Forex Brokers Australia) and Best MT4 Provider 2018 (UK Forex Awards).

Neither account at AxiTrader requires a minimum deposit, spreads are tight and all clients receive AutoChartist for free; as an ECN broker all trades are posted directly to market and educational and analytical support is good for beginners.

Pros
  • Low minimum deposit
  • Wide range of assets
  • Well regulated
  • Tight spreads
Cons
  • Poor customer service
  • Limited demo account
Read More About Axitrader
11
Admiral Markets
Min. Deposit
USD 100
4.244.24
Min. Spread
0.10 pips
Fx Pairs
40+
REGULATED BY
Overall Rating
11110.54.24/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.50 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4, MT5 & MT4 Supreme Edition platforms supported. Admiral Markets is regulated by ASIC, CySEC, and the FCA.
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Founded in 2001, Admiral Markets offers reliability, market leadership and simple modern trading. A global presence, a large Australian and international client base, flexible trading accounts, competitive trading conditions, and peerless educational material have attracted both beginner and experienced traders to the brand.

Admiral Markets offers their own custom version of the MetaTrader trading platforms, the MetaTrader Supreme Edition, compatible with both MT4 and MT5. Additionally, most Admiral Markets accounts have free access to Trading Central – providing independent market insight and technical analysis – and the company offers one of the best cryptocurrency offerings on the market by a Forex broker.

Pros
  • Well regulated
  • Excellent education
  • Wide range of assets
Cons
  • Expensive withdrawals
Read More About Admiral Markets

What are CFDs?

A CFD is a Contract For Difference. It is an agreement between you and a CFD broker to pay the difference in the price of an asset (like gold, or oil, or Tesla stock) after it increases or decreases.

Trading CFDs is speculating on the price movement of an asset without ever owning it.

CFDs are usually traded with leverage (money borrowed from the CFD broker) and neither the trader nor the broker ever owns the underlying asset.

What is a CFD Broker?

CFD brokers are the companies that provide access to a CFD market and provide a trading platform to open and close trades. To trade CFDs, you will need to open an account with a CFD broker. Once you open an account you will need to fund it with the minimum deposit required by the CFD broker.

CFD brokers usually require a minimum deposit to open an account

All CFD brokers offer the same basic services – like a trading platform and access to a market – but they can be quite different in other ways.

Types of CFD Brokers

CFD brokers come in two main forms: Market Makers or Direct Market Access (DMA)

Market Makers

Market makers are CFD brokers who create an artificial market for traders. When you trade with a market maker, you are not trading with real market prices. Instead, you are trading with prices that a market maker thinks are fair.

Market makers are always counterparty to your trade

Because a market maker is the market, it will always take the other side of your trade. This is called being the counterparty. So, when you lose money the market maker will profit – and when you profit the market maker will lose money.

Market makers will often require low minimum deposits to open an account and offer instant execution of trades.

These are the best ASIC-regulated market maker CFD brokers in 2021:

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Overall Rating
Official Site
Regulators
Min. Deposit
Cost of Trading
Trading Commission
No. of FX Pairs
Compare
Official Site
4.69 /5
Read Review
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Your capital is at risk
USD 5
USD 7
Fees Included in Spread
330
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4.69 /5
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USD 250
USD 6
Fees Included in Spread
93
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4.39 /5
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USD 250
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50+
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4.38 /5
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USD 5
USD 16
7 USD / lot - XM Zero Account
57
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Your capital is at risk
4.19 /5
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USD 50
USD 11
Zero Accounts
85
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Direct Market Access (DMA)

ECN-Network

Unlike market makers, DMA brokers provide access to the CFD market. The most common form of DMA broker is called an ECN (Electronic Communication Network) broker. When you trade with an ECN broker, it will pass your trade to a member of its network to take the other side of your trade.

DMA brokers pass your trade to other members of the CFD market

ECN brokers and other DMA brokers usually require high minimum deposits to open an account and trade execution is never instant.

These are the best ASIC-regulated ECN CFD brokers in 2021:

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Overall Rating
Official Site
Regulators
Min. Deposit
Cost of Trading
Trading Commission
No. of FX Pairs
Compare
Official Site
4.51 /5
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USD 200
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USD 7
7 USD / lot - True ECN account
60
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4.34 /5
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USD 12
7 USD / lot - PRO account
80+
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4.19 /5
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USD 11
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85
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4.18 /5
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7 USD / lot - ThinkZero Account
36
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What is a CFD Trading Account?

CFD trading accounts are accounts opened with a CFD broker. Many CFD brokers will offer different accounts with different costs and benefits.

Unless it is a CFD demo account, traders have to transfer money into the trading account to start trading.

Types of CFD Trading Accounts

Accounts with CFD brokers can be split into two main groups: Demo Accounts and Live (or Real) Accounts.

Demo Accounts

Demo accounts are the best way to practice CFD trading with zero risk. All CFD brokers will offer a demo account for beginners to practice trading and get used to the broker’s trading platform. They are free to open, and the broker will load them with virtual money.

Demo accounts have fake money, but real market conditions

Even though there is no real money involved, demo accounts have real market conditions; traders with a demo account are seeing exactly the same thing as traders with a real account. Demo accounts are indispensable for new traders who want to understand how it feels to trade CFDs.

Some CFD brokers will put a time limit on their demo accounts, usually 2 or 3 weeks, forcing new traders to switch to a real account. The best CFD brokers have demo accounts that never expire, so traders can continue to practice as long as they want.

These are the ASIC-regulated CFD brokers with the best demo accounts in 2021:

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Overall Rating
Official Site
Regulators
Min. Deposit
Cost of Trading
Trading Commission
No. of FX Pairs
Compare
Official Site
4.24 /5
Read Review
Visit Broker >
Your capital is at risk
USD 100
USD 5
6 USD / lot - Prime Account
40+
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Your capital is at risk
4.69 /5
Read Review
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Your capital is at risk
USD 5
USD 7
Fees Included in Spread
330
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4.46 /5
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USD 200
USD 7
7 USD / lot - True ECN account
60
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Your capital is at risk
4.38 /5
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Your capital is at risk
USD 5
USD 16
7 USD / lot - XM Zero Account
57
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4.51 /5
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Your capital is at risk
USD 200
USD 7.90
From 7 USD / lot - Razor Account
80+
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Your capital is at risk

Live Accounts

Live accounts come in many different forms depending on the CFD broker. Most CFD brokers have several live accounts, with different required minimum deposits. Generally, live accounts with lower minimum deposits have worse trading conditions (i.e. making trades is more expensive).

Lower minimum deposits = worse trading conditions

As well as lower trading costs, CFD brokers will also offer more perks on accounts with higher minimum deposits. Perks can include one-on-one training and advanced trading tools.

Some CFD brokers will offer both market maker accounts (so you will be trading against the broker) and direct market access accounts (so you will be trading on the market).

What Types of CFDs Can You Trade?

Tradeable CFDs include: Forex (currency pairs), commodities (oil, gold, coffee, grain, etc.), stocks (Tesla, Apple, etc.), indices (like the NASDAQ or FTSE 100) and cryptocurrency pairs (such as BTC/USD). There are other CFDs, but these are the most common.

The most popular form of CFD trading is Forex trading

The most popular form of CFD trading is Forex trading, or the trading of currency pairs such as EUR/USD (Euro/US Dollar) or GBP/JPY (British Pound/Japanese Yen).

How do CFD Brokers Make Money?

Money

CFD brokers make money from traders with:

  • Spreads and commission
  • Overnight interest
  • Hedging
  • Deposit and withdrawal fees
  • Optional services.

Once you understand how these fees work, you will be able to compare CFD brokers by cost.

Spreads and Commission

Most CFD brokers will make money from the spread. The spread is the broker’s fee for their services. It is the difference between the buy and sell price a CFD broker gives traders and the real market price. The lower (or tighter) the spread, the cheaper a broker is to trade with.

The spread is the CFD broker’s fee for their services

Market makers brokers have wider spreads than direct market access brokers. But direct market access brokers usually charge a commission. This commission is paid when you open a trade and when you close a trade and is usually a fixed amount, charged in USD.

Direct market access brokers have tight spreads but usually charge a commission

Overnight Interest

CFD brokers also make money from interest. CFD trading is leveraged, which means that you borrow money from the broker to increase the size of your position. Brokers will charge you interest for borrowing money from them, this is charged on all trading positions that are held overnight.

Hedging

Market maker CFD brokers will also hedge their counterparty trades. If a CFD broker is the counterparty to a trader buying gold, it will also sell gold to protect itself from the trader winning.

Deposit and Withdrawal Fees

Some CFD brokers also charge deposit and withdrawal fees. These can be either a fixed fee or a percentage of the deposit or withdrawal. Always check with the CFD broker first before you make a deposit or withdrawal to avoid being surprised.

Other Fees

CFD brokers also charge other fees. The most common is an inactivity fee for trading accounts that have not been used for many months. But brokers may also charge for optional services such as advanced trading tools, in-depth education, and VPS services.

CFD Broker Ratings and Reviews

It is important to read reviews and check the ratings for CFD brokers when comparing them. CFD brokers tend to be strong in some areas and weaker in others, only a very few are excellent overall.

The best CFD broker for you will depend on your trading experience, educational background, and financial situation.

For instance, the best CFD broker for beginners will have excellent education and trading accounts with low minimum deposits. But the best CFD broker for experienced traders will have advanced trading tools and trading accounts with high minimum deposits and exceptional trading conditions.

Regulated CFD Brokers

Regulators are national authorities that protect citizens from financial scams and unethical businesses. Traders should always use CFD brokers that regulated by at least one national authority. In Australia, the national regulator is the Australian Securities and Investments Commission (ASIC).

Traders should always use a regulated CFD broker

To protect traders, ASIC-regulated CFD brokers are required to comply with the following rules:

  • Segregated Accounts: CFD brokers are required to keep trader’s money in a separate bank account from their own. This means that traders can get their money back if a CFD broker goes bankrupt.
  • Negative Balance Protection: Traders with ASIC-regulated CFD brokers can never lose more money than they have in their trading account. This means that any negative balance cannot be claimed by the brokers.
  • Leverage Limits: From 29th March 2021, all CFD brokers regulated by the ASIC can only offer leverage of 30:1. This means that traders can only borrow from the broker 30 times more than they have in their trading account.
  • Regular Audits and Inspections: ASIC-regulated CFD brokers are subject to audits of their finances and surprise inspections of their trading setup. This prevents brokers from cheating their traders.

There are many other regulators around the world. Apart from ASIC, the best regulators are CySEC (Cyprus Securities and Exchange Commission) and the UK’s FCA (Financial Conduct Authority). Some CFD brokers are regulated by more than one national authority.

CFD Trading Platforms

All CFD brokers will offer a trading platform to access the markets. Some brokers have their own platforms, while others use popular independent trading platforms that you can download to your computer.

The most popular CFD trading platform is MetaTrader 4

The most popular trading platform in the world is MetaTrader 4 (MT4). Other popular CFD trading platforms are MetaTrader 5 (MT5) and cTrader. All three platforms provide access to the CFD markets and allow users to make trades.

These are the best ASIC-regulated CFD brokers with MT4 in 2021 according to our expert’s research:

Scroll for more detailsPreviousNext
Overall Rating
Official Site
Regulators
Min. Deposit
Cost of Trading
Trading Commission
No. of FX Pairs
Compare
Official Site
4.69 /5
Read Review
Visit Broker >
Your capital is at risk
USD 5
USD 7
Fees Included in Spread
330
Visit Broker >
Your capital is at risk
4.51 /5
Read Review
Visit Broker >
Your capital is at risk
USD 200
USD 7.90
From 7 USD / lot - Razor Account
80+
Visit Broker >
Your capital is at risk
4.46 /5
Read Review
Visit Broker >
Your capital is at risk
USD 200
USD 7
7 USD / lot - True ECN account
60
Visit Broker >
Your capital is at risk
4.39 /5
Read Review
Visit Broker >
Your capital is at risk
USD 250
USD 6
Fees Included in Spread
50+
Visit Broker >
Your capital is at risk
4.38 /5
Read Review
Visit Broker >
Your capital is at risk
USD 5
USD 16
7 USD / lot - XM Zero Account
57
Visit Broker >
Your capital is at risk

All three platforms also allow CFD traders to install small software programs called robots and indicators. Robots trade automatically, based on pre-determined signals, and indicators help traders find opportunities in the markets.

Trading robots will trade automatically for you based on pre-set signals

All trading platforms are also available on Android and iOS mobile devices. CFD brokers with their own platforms will often have their own mobile apps too. MT4, MT5 and cTrader are also available as mobile apps.

Deposits and Withdrawals with a CFD Broker

The best CFD brokers offer a range of methods to make deposits and withdrawals. Almost all CFD brokers will accept credit/debit cards, bank wires and ewallets such as Skrill or Neteller.

Deposits can usually be made instantly with credit/debit cards and ewallets, but bank transfers usually take a few days – or longer if you are making an international bank transfer.

Withdrawals tend to take a little longer, but the best CFD brokers will allow you to withdraw to your credit/debit card or ewallet within 24 hours. Again, bank transfers will take a few days and international bank transfers even longer.

The best CFD brokers will not charge for deposits or withdrawals

The best CFD brokers will not charge for deposits or withdrawals, but unfortunately, this is quite rare. Many CFD brokers will allow free deposits but will charge a fee for withdrawals. Some CFD brokers will even charge for both.

International bank transfers will always incur a fee from the banks involved in the transfer and CFD brokers will usually not cover this cost.

Learn How to Trade CFDs

Forex education

Trading CFDs with a CFD broker (even the best) is risky, and most traders lose money.

The first step to being a profitable CFD trader is to be an educated CFD trader

Most CFD brokers will offer some form of education, but the best CFD brokers excel when it comes to teaching new traders. CFD education should be comprehensive and well-structured. It should be a mix of video and written content, featuring input from market experts and trading professionals.

The best CFD brokers will also have an in-house team of market analysts to provide technical insight and detailed coverage of events that affect the CFD markets.

Final Word

The best CFD brokers will be well-regulated, have low trading costs and will provide excellent education and powerful but easy-to-manage trading platforms. Because there are quite a few brokers who will fit those criteria, it is important to think about what you want from a CFD broker when making your comparison.

Forex Risk Disclaimer

Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. 

Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (Learn more from the FCA or from ASIC)

Our Methodology

Our State of the Market Report and Broker Directory are the result of extensive research on over 100 Forex brokers. The explicit goal of these resources is to help traders find the best Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.

With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal. 

In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from your perspective.

All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and by sifting through the fine print. Learn more about how we rank brokers

References

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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