CFD Trading Apps
Nowadays, investors have several platform options where they can trade contracts for difference – the most versatile being CFD trading apps. With their rise in popularity, new applications are entering the market all the time, making it increasingly hard to know how to find the best of the bunch. In this review, we’ll dive into what CFD trading apps are, how they work, their advantages and disadvantages, plus how to compare them. We’ve also listed the brokers offering the best CFD trading apps in 2023 below.
Top Brokers With CFD Trading Apps
- Forex.com - iOS & Android
- IG Group - iOS & Android
- IQCent - iOS & Android
- Kwakol Markets - iOS & Android
- ForexChief - iOS & Android
- Videforex - Android
- Sage FX - iOS and Android
- Coinexx - iOS & Android
- World Forex - iOS, Android + Web Browser
- RaceOption - iOS & Android
#1 - Forex.com
Go long and short on a range of popular financial markets with low fees.
- FTSE Spread: 1 pt
- GBPUSD Spread: 1.0 Var
- Stocks Spread: 0.1% (Min Commission Applies)
- Leverage: 1:200
- Regulator: CySEC, IIROC, NFA, CFTC, FCA, CIMA
- Platforms: MT4, MT5
Mobile Apps
iOS & Android
Forex Trading
Forex.com is a leading FX broker. Offering a large range of currency pairs and some of the tightest spreads in the industry.
Stocks Trading
Forex.com offer access to thousands of US, EU and UK stocks, with spreads of just 1 point. See why Forex.com are about more than just forex...
Crypto Trading
Trade the major cryptos against USD, EUR, GBP and AUD. All traded with tight spreads. No virtual wallet required, just a trading account. Note, cryptos are not available in the US, UK or Canada.
About Forex.com
Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer tight spreads on a cutting edge platform.
Pros
- MT4 integration
- Demo account
- Multiple account currencies
Cons
- No copy trading
#2 - IG Group
Trade leveraged CFDs on a variety of assets including stocks, commodities and forex
- FTSE Spread: 1.0 pt
- GBPUSD Spread: from 0.589 pips
- Stocks Spread: Variable
- Leverage: 1:30
- Regulator: FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin
- Platforms: MT4
Mobile Apps
iOS & Android
Forex Trading
Trade a range of major, minor and exotic currencies
Stocks Trading
LSE-listed IG Group offers stock trading via CFDs, spread betting (in the UK) and digital 100s. Margin requirements vary.
Crypto Trading
Trade four major cryptocurrencies paired with USD
About IG Group
IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
#3 - IQCent
Trade leveraged CFDs on popular markets including stocks and commodities.
- FTSE Spread: From 0.7 pips
- GBPUSD Spread: From 0.7 pips
- Stocks Spread: Variable
- Leverage: 1:500
- Regulator: IFMRRC
- Platforms: Own
Mobile Apps
iOS & Android
Forex Trading
IQCent offers major, minor and exotic currency pairs with tight spreads.
Stocks Trading
IQCent offers trading on four German stocks alongside several established indices.
Crypto Trading
Trade popular crypto tokens via leveraged CFDs.
About IQCent
IQCent is an offshore binary options and CFD broker with 10+ payment methods and a $50 minimum deposit. Clients benefit from copy trading tools and in-depth market analysis.
#4 - Kwakol Markets
Trade CFDs with high leverage and spreads from 0.0 pips on premium accounts.
- FTSE Spread: From 0.8 pips (Standard Account)
- GBPUSD Spread: From 0.8 pips (Standard Account)
- Stocks Spread: From 0.8 pips (Standard Account)
- Leverage: 1:1000
- Regulator: ASIC, FINTRAC
- Platforms: MT4, MT5
Mobile Apps
iOS & Android
Forex Trading
Trade forex with ECN executions and tight spreads.
Stocks Trading
Trade stocks with zero commissions and ultra-fast trade executions.
Crypto Trading
Trade cryptos against fiat currencies, other cryptocurrencies and metals like gold.
About Kwakol Markets
Kwakol offers trading on the MT4 & MT5 platforms with high leverage & copy trading.
#5 - ForexChief
ForexChief offers a competitive range of CFDs, encompassing crypto, indices, energies and metals.
- FTSE Spread: 70
- GBPUSD Spread: 0.9
- Stocks Spread: 50
- Leverage: 1:1000
- Regulator: VFSC
- Platforms: MT4, MT5
Mobile Apps
iOS & Android
Forex Trading
ForexChief supports spot foreign exchange trading on all account types for 40+ major, minor and exotic currency pairs on both MT4 and MT5.
Stocks Trading
ForexChief offers 100 US company stocks CFDs for MT4 DirectFX and Classic+ account holders.
Crypto Trading
ForexChief supports crypto CFD trading with five major digital currencies paired against the US dollar.
About ForexChief
ForexChief is a foreign exchange and CFD broker with offshore regulation and access to both MT4 and MT5 trading platforms.
Pros
- MT4 integration
- Full range of investments
- Copy trading
Cons
- Weak regulatory oversight
#6 - Videforex
A suite of CFDs are available across popular markets with high leverage.
- FTSE Spread: Floating from 0.2
- GBPUSD Spread: Floating from 0.1
- Stocks Spread: NA
- Leverage: 1:500
- Regulator:
- Platforms: Own
Mobile Apps
Android
Forex Trading
Videforex offers leveraged trading on major, minor and exotic currency pairs.
Stocks Trading
Videforex offers trading on major exchanges such as the FTSE.
Crypto Trading
Start trading on cryptos against fiat currencies and other alt coins.
About Videforex
Videforex accepts deposits in a range of cryptos and fiat currencies. Payouts reach 98% per trade.
Pros
- Full range of investments
- Copy trading
- Demo account
Cons
- Weak regulatory oversight
- No MT4 integration
#7 - Sage FX
SageFX offers retail trading on financial markets with competitive spreads.
- FTSE Spread: 5.0
- GBPUSD Spread: 0.9
- Stocks Spread: N/A
- Leverage: 1:500
- Regulator: Pending
- Platforms: MT4
Mobile Apps
iOS and Android
Forex Trading
Sage FX offers trading on major and cross currency pairs.
Stocks Trading
Sage FX offers retail trading on major stock indices from around the world.
Crypto Trading
Sage FX offers leveraged trading on crypto and USD pairs.
About Sage FX
Sage FX is an MT4 trading broker offering high leverage rates and secure mobile investing.
#8 - Coinexx
Take positions on popular markets with tight spreads, high leverage and micro lots.
- FTSE Spread: From 0.0 pips
- GBPUSD Spread: From 0.0 pips
- Stocks Spread: NA
- Leverage: 1:500
- Regulator:
- Platforms: MT4, MT5
Mobile Apps
iOS & Android
Forex Trading
Trade currency pairs with ECN spreads and zero SL/TP limits.
Stocks Trading
Speculate on stock indices with 1:500 leverage and ECN spreads.
Crypto Trading
Trade cryptos against the US Dollar with 1:5 leverage.
About Coinexx
Coinexx is an ECN broker with 1:500 leverage, 80+ instruments and a joining bonus.
Pros
- MT4 integration
- Full range of investments
- Demo account
Cons
- No regulatory oversight
- Few payment methods
- No copy trading
#9 - World Forex
Speculate on 40+ share CFDs with high leverage and low fees.
- FTSE Spread: NA
- GBPUSD Spread: NA
- Stocks Spread: From 0.03
- Leverage: 1:1000
- Regulator: SVGFSA
- Platforms: MT4, MT5
Mobile Apps
iOS, Android + Web Browser
Forex Trading
Take positions on a long list of forex pairs with tight spreads and low commissions.
Stocks Trading
Trade 40+ stock CFDs including big names like IBM and American Express.
Crypto Trading
Trade on 10 cryptos paired with the USD and EUR. Crypto only pairs are also available.
About World Forex
World Forex offers commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
Pros
- MT4 integration
- Copy trading
- Multiple payment methods
Cons
- Weak regulation
#10 - RaceOption
Go long and short on popular financial markets via the RaceOption platform
- FTSE Spread: Floating
- GBPUSD Spread: Floating
- Stocks Spread: Floating
- Leverage: 1:500
- Regulator:
- Platforms: Own
Mobile Apps
iOS & Android
Forex Trading
Trade major and minor currency pairs with competitive leverage rates
Stocks Trading
Trade more than 50 stocks and shares on US, UK and European markets.
Crypto Trading
Trade Bitcoin against the USD and CNY
About RaceOption
RaceOption is a binary options and CFD platform offering trading contests and prize giveaways.
What Is A CFD Trading App?
To start trading CFDs, you will need to use platform software provided by a broker. This can be accessed via desktop, web platform or mobile app. However, CFD trading using an application allows you to execute trades through a mobile device, such as a tablet or smartphone. CFD mobile trading has revolutionised traditional methods of investing, offering greater control on the go instead of being bound to your desktop.
The best CFD trading applications should offer the same tools, charts, services and markets with the same functionality as the web platform. However, this is not always the case as we will cover later.
How Do CFD Trading Apps Work?
CFD trading apps allow you to trade your chosen instruments with a mobile device wherever and whenever you want. Whether you’re investing from the UK, US or Australia, CFD trading apps offer global access to markets from one mobile trading platform. Your account usually accessed on your desktop should mirror the positions on your mobile app, making for seamless trading wherever you go.
The application will have the same interface as the desktop platform with mobile-optimized charting and technical analysis tools that are specifically designed for Android and iOS operating systems.
To start using a CFD trading app, you’ll need to download it through the app store of your choice. Once you’ve created a CFD trading account, you can explore the markets available and open long or short positions. Plus, you can set up trading alerts to receive in-app push notifications for instant updates on your trades and instruments. CFD trading app notifications allow you to monitor open positions on the platform and close them directly on the application.
Pros Of CFD Trading Apps
- Flexibility: The key benefit of CFD trading apps is the ability to trade on the go. Modern traders do not have to tie themselves to multiple trading screens for long hours. Instead, they have access to a powerful platform within the reach of their pocket.
- Instant Notifications: The best CFD trading apps have a wide range of notifications options, such as trading and price alerts. In this way, you’re able to keep up-to-date with trades instantly without waiting to hop on a web trading platform. CFD mobile traders have the option of setting up push, SMS or email notifications so you never miss a key event, order notification or price alert.
- Ubiquitous: CFD trading apps are becoming much more commonplace as platforms prioritise having mobile solutions. Nowadays, most regulated brokers offer CFD trading apps, so traders don’t have to restrict their options or compromise.
- Improved Technology: Top brokers are constantly developing and enhancing their CFD trading app software to match the tools and charts on the web-based platform. Therefore, the gap between the CFD mobile trading experience and desktop platform is narrowing.
- Full Functionality: CFD trading apps provide access to all the features you need to open, monitor and close your positions at any time and anywhere. Additionally, the best applications provide flexible access to thousands of global markets with fast execution.
Cons Of CFD Trading Apps
- Restrictions: Not all CFD trading apps will have equal access to markets compared to what is offered on desktop trading software. The restricted access can prevent the execution of a trader’s strategy and access to their full product portfolio.
- Connectivity Issues: Mobile connectivity can still be an issue in remote areas, making it difficult to access a mobile app-based CFD trading platform. Connection issues can cause a delay on a live data feed and potentially disrupt traders from placing an order whilst on the go. When the speed of execution is key, a delay in information can make or break trades.
- Limited Screen Size: Typically, web CFD trading software provides data that can be hard to view on a smaller screen. Therefore, traders may find the small screen size a big drawback of CFD trading apps.
How To Compare CFD Trading Apps
When it comes to choosing the best CFD trading apps, there are several factors to consider:
Compatibility
Before you open an account with a CFD trading app, you want to make sure their mobile platform is compatible with your tablet or smartphone. Check whether the application is suitable for an iOS or Android operating system and available for download on the App Store or Google Play Store.
Features
Each CFD trading app has unique features that will suit your personal trading style. Some may require a watchlist or specific order types, while some may need trading alerts or one-click execution. In particular, scalpers may want a selection of charts with up to one-minute timeframes.
Fees
Traders should always consider the transactions costs of a CFD trading app. However, these are likely to be the same as you’d get on a desktop. Regardless of the platform, brokers will usually charge interest for long positions held overnight on CFDs. Commission charges will be a percentage of a trade size e.g. 0.3% or as a minimum charge, like $7. However, some CFD trading apps provide commission-free trading depending on the broker you select.
Market Access
Do you wish to trade CFDs in indices, shares, commodities or forex? Do you want access to the global markets? Some CFD trading apps restrict access to some assets or currency pairs, which you’ll have to consider before opening an account. The best CFD trading apps in the UK, Germany and Australia, such as IG and CMC Markets offer global market access.
Reliability
CFD trading apps need to be dependable, especially when your live funds are on the line. These factors can make or break your profitability. Can you execute instant orders with up to date and live price quotes? You’ll want to ensure that the pricing structure is transparent with no hidden fees. While you don’t need to choose a regulated CFD trading app to enter the market, a licensed provider authenticates the application’s legitimacy.
Security
The best CFD trading apps should take additional steps to ensure account security. Some key features to note are two-factor authentication, SSL encryption and segregated bank accounts. Additionally, regulated CFD trading applications provide an additional layer of compensation should the provider go bankrupt.
Deposit & Withdrawals
Not all deposit & withdrawal times are the same across CFD trading apps. Some brokers will allow instant deposits to your account, meaning you can begin trading right away. However, longer deposit times are common, making same-day trading difficult. Consider, does the CFD trading app provide a wide range of payment methods or your most preferred payment option?
Customer Support
Sometimes, you may encounter issues with the CFD trading app that need to be resolved with urgency. Therefore, it’s vital that you opt for a reliable and responsive customer support team. Nowadays, the best CFD trading apps offer in-app 24/7 support in multiple languages.
Education
Whether you’re a new CFD trader or an experienced professional, CFD trading apps usually offer educational resources. As a leveraged instrument, trading CFDs are highly risky. Therefore, careful risk management should be embedded into your strategy. Make use of stop-losses and buy limit orders so that you don’t run the risk of losing more than you can afford.
Final Word On CFD Trading Apps
In this article, we covered how to compare CFD trading apps for iOS and Android and discussed how the flexibility that comes with mobile applications can benefit your strategy. However, traders must also consider the limitations of mobile trading, in particular, connectivity issues and screen size. Whether you’re trading in the US, UK or Australia, choosing the best CFD trading apps can be overwhelming with the wide range of options. Nonetheless, the level of innovation among the best CFD trading apps means that prioritising your investing needs can come first.
FAQs
How Do I Get Started Trading CFDs?
To start trading CFDs, you will need to open an account with an online broker. Brokers facilitate access to the market through CFD trading software. This is provided through web-based, desktop or mobile platforms. You will then need to fund your trading account. CFD trading apps allow you to manage and execute your trades on the go. Plus, you can test out a CFD trading app with a free demo account.
How Do I Find The Best CFD Trading Apps?
Choosing the best CFD trading apps for you will depend on several factors, such as your trading style, skill level and even your country. Therefore, you should consider your priorities during your research. Perhaps commission-free trading is important to you, or an application with a wide range of tools for technical analysis. Some of the best CFD trading apps to download in the UK and Australia from regulated brokers include CMC Markets, IG and eToro.
What Is The Difference Between Web-based CFD Trading Software And CFD Trading Apps?
The main difference between web-based CFD trading software and a mobile application is that you can trade on the go without being tied to your desktop. However, some brokers allow differences in instruments on CFD trading apps vs desktop platforms. Another key difference is the limitation of screen size when comparing a mobile device and desktop. This can make technical analysis difficult for traders that love to dive into the data. Fees, deposit and withdrawal methods should remain the same between platforms, but it is worth noting any differences on the broker’s website.
How Do I Test CFD Trading Apps?
Most CFD trading apps offer a free demo account to test out their platform in a simulated environment with virtual funds. Generally, you will only be asked to input a few simple details, such as your name and email to get started.
Does Barclays Offer A CFD Trading App?
Barclays offers a trading app for novice and experienced investors called Smart Investor, which can be accessed through their mobile banking app. Here, you can invest in thousands of instruments, including derivatives like CFDs.