CFD Trading Software
CFD trading software is a vital element of any investor’s toolkit, facilitating trades and aiding with technical analysis. However, finding the best CFD trading platform can be hard given the variety on the market today. This review will show how you can compare the best platforms on the market, provide a comparison of the top platforms on offer and discuss which countries permit the use of CFD trading software.
Best CFD Trading Software
Here is a short summary of why we think each broker belongs in this top list:
- Interactive Brokers - Over 8,000 CFDs are offered on a vast array of instruments, encompassing stocks, indices, forex, and commodities. Moreover, the TWS platform lends itself to seasoned day traders, offering a comprehensive selection of over 100 order types and algorithms, alongside premium market data sourced from reputable sources such as Reuters and Dow Jones.
- xChief - You can trade a competitive range of CFDs encompassing crypto, indices, energies and metals, with very high leverage up to 1:1000. ECN pricing is available, with spreads from 0.0 pips and low commissions from $2.50. A Cent account is also available for those on a smaller budget.
- Focus Markets - Focus Markets has clearly been built for crypto traders, offering an impressive 90+ derivatives, including major tokens like Bitcoin, Ethereum and Ripple. With high leverage, a commission-free trading account and fast execution on MT5, it delivers a reliable environment for active crypto traders.
- InstaTrade - InstaTrade offers the flexibility to trade CFDs across various markets, from stocks and indices to forex and commodities. Where it excels is its dynamic leverage up to 1:1000, amplifying potential returns and losses with negative balance protection preventing accounts from falling below zero.
- Exness - Exness provides CFDs on forex, stocks, indices, commodities, and cryptos with leverage up to 1:2000, tailored for advanced day traders and featuring over 100 technical indicators in its proprietary terminal.
- IC Markets - You gain access to over 2,250 CFDs, available for trading 24/5 across popular markets such as forex, commodities, indices, stocks, and bonds. Utilizing deep liquidity and advanced bridge technology, IC Markets ensures optimal conditions for scalpers, hedgers, and algo traders alike.
CFD Trading Software Comparison
| Broker | CFD Leverage | Minimum Deposit | Minimum Trade | Regulators |
|---|---|---|---|---|
| Interactive Brokers | 1:50 | $0 | $100 | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| xChief | 1:1000 | $10 | 0.01 Lots | ASIC |
| Focus Markets | 1:500 | $100 | 0.01 Lots | ASIC, SVGFSA |
| InstaTrade | 1:1000 | $1 | 0.01 | BVI FSC |
| Exness | 1:Unlimited | Varies based on the payment system | 0.01 Lots | FCA, FSCA, CMA, FSA, CBCS, BVIFSC, FSC, JSC |
| IC Markets | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) | $200 | 0.01 Lots | ASIC, CySEC, CMA, FSA |
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Christian Harris, Reviewer
Interactive Brokers Quick Facts
| FTSE Spread | 0.005% (£1 Min) |
|---|---|
| GBPUSD Spread | 0.08-0.20 bps x trade value |
| Stocks Spread | 0.003 |
| Leverage | 1:50 |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Pros
- With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.
- Interactive Brokers has been named Best US Broker for 2025 by DayTrading.com, recognizing its long-standing commitment to US traders, ultra-low margin rates, and global market access at minimal cost.
- IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account.
Cons
- TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
- You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
- IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
xChief
"xChief continues to prove popular with investors looking to trade highly leveraged CFDs on the popular MetaTrader platforms. The broker's rebate scheme and investment accounts will particularly appeal to seasoned traders. However, the lack of top-tier regulatory oversight is a major drawback."
xChief Quick Facts
| FTSE Spread | 70 |
|---|---|
| GBPUSD Spread | 0.9 |
| Stocks Spread | 50 |
| Leverage | 1:1000 |
| Regulator | ASIC |
| Platforms | MT4, MT5 |
| Account Currencies | USD, EUR, GBP, JPY, CHF |
Pros
- Traders can access a copy trading solution via the MetaQuotes Signals service
- The broker offers a turnover rebate scheme geared towards active investors, as well as trading credits and several other occasional bonuses
- xChief offers STP/ECN execution with low spreads from 0.0 pips and low commission rates starting from $2.50 per side
Cons
- The total range of 150+ assets is much lower than most competitors who typically offer hundreds
- The broker trails competitors when it comes to research tools and educational resources
- Fees and minimums are imposed on most withdrawal methods, including a €60 minimum for SWIFT bank transfers
Focus Markets
"Focus Markets is perfect for experienced traders familiar with MetaTrader 5, offering flexible crypto transactions (USDT and BTC) and access to over 90 cryptocurrencies for seamless speculation, deposits, and withdrawals."
Focus Markets Quick Facts
| FTSE Spread | 1.2 |
|---|---|
| GBPUSD Spread | 0.0 |
| Stocks Spread | Variable |
| Leverage | 1:500 |
| Regulator | ASIC, SVGFSA |
| Platforms | MT5 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, SGD |
Pros
- While its meagre four commodities won’t meet the needs of some serious traders interested in softs and metals, Focus Markets offers a huge suite of 90+ cryptos, providing short-term opportunities on high-reward, high-risk assets.
- Focus Markets is regulated by ASIC – one of the most respected regulatory bodies in the financial industry with robust safeguards like negative balance protection, ensuring you can’t lose more than your balance in volatile markets.
- Focus Markets’ MT5 platform delivered fast, seamless trade execution during testing with advanced charting, multiple timeframes, and useful tools like Depth of Market (DOM). Its clean interface made navigation easy, while clear risk/reward ratios ensures precise trading.
Cons
- A significant drawback of Focus Markets is the lack of platform variety. It only support MT5, excluding popular platforms like MT4, cTrader, and TradingView, plus it hasn't developed its own software that could better meet the needs of beginners.
- Regulatory protection is a location lottery at Focus Markets – Australian traders benefit from strong ASIC oversight, but those using the SVGFSA-registered entity face limited recourse options in disputes.
- Focus Markets’ 24/5 support lacks direct phone help and unresponsive live chat, while email replies took a full business day during our latest tests. This slow support is a major drawback for active traders who need quick resolutions.
InstaTrade
"Although InstaTrade offers active trading on a comprehensive platform, it stands out with its fairly unique Fixed Income Structured Product (FISP), providing passive investment opportunities with up to 50% returns in 6 months if conditions are met. "
InstaTrade Quick Facts
| FTSE Spread | 660 |
|---|---|
| GBPUSD Spread | 0.2 |
| Stocks Spread | 8 (Apple Inc) |
| Leverage | 1:1000 |
| Regulator | BVI FSC |
| Platforms | InstaTrade Gear, MT4 |
| Account Currencies | USD, EUR, RUB |
Pros
- InstaTrade delivers an excellent suite of charting tools for day traders with its web trader comprising 250+ indicators, 11 chart types and a user-friendly design.
- Despite an average investment offering of around 300 assets, InstaTrade offers a particularly strong suite of currency pairs, catering to advanced traders seeking opportunities in volatile exotics.
- InstaTrade claims to "guarantee" returns through the structured element of its passive trading solution (FISP), with applications approved within 24 hours.
Cons
- InstaTrade’s growing educational tools provide valuable information for aspiring traders, but still trail category leaders like eToro with no structured course based on experience level.
- InstaTrade sports one of the most cluttered websites and client cabinets in the industry, potentially overwhelming new traders, especially compared to XTB’s intuitive trading journey and resources.
- Profits are only guaranteed in the FISP if investors do not reach the 50% profit level and attract other users with a total sum of $4 for each dollar in compensation.
Exness
"After slashing its spreads, improving its execution speeds and support trading on over 100 currency pairs with more than 40 account currencies to choose from, Exness is a fantastic option for active forex traders looking to minimize trading costs."
Exness Quick Facts
| FTSE Spread | 15.2 |
|---|---|
| GBPUSD Spread | 0.0 |
| Stocks Spread | 0.5 (Apple Inc.) |
| Leverage | 1:Unlimited |
| Regulator | FCA, FSCA, CMA, FSA, CBCS, BVIFSC, FSC, JSC |
| Platforms | Exness Trade App, Exness Terminal, MT4, MT5, TradingCentral |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, CHF, HKD, SGD, AED, SAR, HUF, BRL, NGN, THB, VND, UAH, KWD, QAR, KRW, MXN, KES, CNY |
Pros
- Improved execution speeds, now averaging under 25ms, offer optimal conditions for short-term traders.
- Excellent range of account types for all experience levels, including Cent, Pro plus the introduction of Raw Spread, ideal for day traders.
- Fast and dependable 24/7 multilingual customer support via telephone, email and live chat based on hands-on tests.
Cons
- MetaTrader 4 and 5 are supported, but TradingView and cTrader still aren’t despite rising demand from active traders and integration at alternatives like Pepperstone.
- Apart from a mediocre blog, educational resources are woeful, especially compared to category leaders like IG which provide a more complete trading journey for newer traders.
- Retail trading services are unavailable in certain jurisdictions, such as the US, UK and EU, limiting accessibility compared to top-tier brokers like Interactive Brokers.
IC Markets
"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."
IC Markets Quick Facts
| FTSE Spread | 1.0 |
|---|---|
| GBPUSD Spread | 0.23 |
| Stocks Spread | 0.02 |
| Leverage | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) |
| Regulator | ASIC, CySEC, CMA, FSA |
| Platforms | MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade, Quantower |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.
- IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
- IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders.
Cons
- There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.
- The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
- While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.
How CFD Trading Works
CFD stands for ‘contract for difference’, an agreement between a buyer and seller to exchange the difference between the current price of an asset and its value at the contract’s expiry date.
So, if an asset goes up in value after purchase, the trader will be able to close the position having made a profit; if the asset loses value, they’ll have made a loss.
CFDs are a type of derivative contract. Their value is derived from that of the underlying asset and traders simply speculate on the price movements without owning the instrument itself.
They are also leveraged products, meaning investors can only put up a fraction of the trade value as a deposit to open a position.
This means that the results of a trade are multiplied, creating larger profits than could have been achieved purely from the original deposit amount. However, leverage also amplifies the risk and losses can exceed your deposit amount.
The best CFD trading platforms provide a gateway to global financial markets, whether you’re trading from Australia, Singapore, Germany, New Zealand (NZ), UAE, South Africa, the UK, Malaysia or Canada. However, the CFD trading software on offer varies by broker, with the top options primarily being MetaTrader4 (MT4) and MetaTrader5 (MT5), a proprietary platform or API capabilities for integrating bespoke CFD trading software.
The best CFD trading software will provide a range of order types, technical analysis indicators, charts, timeframes and more. However, as we touch on later, even the best CFD trading platforms are banned in certain countries (including the US), so your selection could be limited by your jurisdiction.
Best CFD Trading Software Comparison
MT4
MetaTrader 4 is the most popular CFD trading software in the world. It offers 30 built-in technical indicators, access to thousands of trading signals and interactive charts with nine timeframes.
The MT4 Codebase allows investors to access automated trading software (known as bots or Expert Advisors) that execute positions using algorithms. Plus, trade sizes as small as 0.01 lots mean traders can utilise risk management techniques with smaller positions for hedging.
Collectively, these features make it one of the best CFD trading platforms across the globe, including in locations that are well-known for being financial service hubs, such as the UK, UAE, Singapore, Australia and Europe (EU).
MT5
MetaTrader 5 is another popular CFD trading platform, highly regarded in the industry and provided by the same software developers at MetaQuotes. In many ways, MT5 is more advanced than MT4, offering more technical indicators and charting tools, more sophisticated backend infrastructure and additional order types.
Moreover, the MT5 CFD trading software is ideal for experienced CFD traders, equipped with the latest charts and tools like oscillators, Bill Williams and volume indicators.
In particular, MT5’s CFD trading software allows for switching between several broker accounts. Automated trading and EAs are also supported in the same way as with MT4.
ProRealTime
ProRealTime is the CFD trading platform offered by IG Markets for online CFD trading. Notably, this CFD trading software is designed for automation and is equipped with assisted creation tools that allow you to build your strategies without any coding.
Additionally, the CFD trading software offers 100 indicators that are suited to both new and advanced traders. The software is also free for users who trade at least four times a month.
Trader Workstation
Trader Workstation is another great piece of CFD trading software that is designed for active CFD day traders who wish to utilise multiple assets.
The TWS Mosaic CFD trading software offers easy access to order management, charts, watchlists and tools on a customisable interface. Users can get real-time access to news, research and market data.
Additionally, Trader Workstations offers over 100 order types and algorithms that limit risk, speed execution and price improvement. However, Trader Workstation is only available on desktop and is not best-suited for beginners.
eToro CopyTrader
eToro is a CFD trading platform provider. It is well known for its social trading platform where you can follow the most successful top investors. CFD traders can monitor signals and copy successful trader’s positions. With its vast user base, CFD traders can enjoy a highly liquid environment across multiple assets. Plus, its user-friendly interface makes it one of the best CFD social trading platforms for beginners.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Thinkorswim
Thinkorswim is a popular CFD trading software provided by TD Ameritrade. Thinkorswim is typically used for short to medium term CFD trades and is accessible via a desktop, web or mobile. The software has real-time research features and advanced trading and backtesting capabilities. It also offers additional order types beyond the standard ones, such as trailing stop %, stop-limit and limit on close. Therefore, Thinkorswim CFD trading software is more suited to advanced CFD traders.
How To Compare CFD Trading Software
Market Access
CFD trading allows you to trade in multiple markets with ease, including stocks and shares, indices, cryptocurrencies and commodities. However, when making your comparison, be aware that some platforms specialise in a few assets while other software offers access to thousands of global markets. Check out the CFD trading software you’re interested in beforehand to ensure it caters to your needs.
Fees
Whether you’re trading from the UK, Australia or India, most users will be looking for the cheapest CFD trading platform with low commissions. On the other hand, a high-quality service could be the difference between a profitable trade and one that pushes you into the red. The key is to find a happy medium between the two that is most suited to your needs. If you’re a frequent trader, like a scalper, the cheapest CFD trading platform may make more sense, with low fees being vital for your strategy. On the other hand, you may be an advanced trader who wants access to the best tools for technical analysis.
Tools and Features
CFD trading software can vary in the breadth of trading tools on offer. Some advanced CFD trading platforms have charts, indicators and graphical objects used for technical analysis, while others also feature news and sentiments suited to fundamental analysis. On top of that, some CFD trading software comes with automated trading features, APIs, backtesting capability, signals or copy trading functionality. The software you choose should depend on the tools you need to maximise your CFD trading strategy.
Deposit and Withdrawals
It is important to consider whether your CFD broker offers a range of payment methods for funding your CFD trading account. The best CFD trading platforms could allow you to fund your account in any number of ways, including via globalcollect, debit/credit card and even cryptocurrency. Instant deposits and withdrawals are other popular factors that can make or break your trading experience.
User Interface
Your skill level also plays a part in which CFD trading software to choose. A platform that allows for several accounts, hundreds of indicators, detailed price information and several order types can be overwhelming for a beginner, even if it is the best CFD trading platform. Ensure that the CFD trading software’s user interface has all the features that are compatible with your experience.
Leverage
A key advantage of CFDs is the ability to trade with leverage. While most regulated brokers will be limited to the leverage they’re permitted to offer, it is worth shopping around for a suitable leverage amount. CFDs are a very risky instrument that requires careful risk management, so consider whether high leverage fits with your trading strategy. For added security, opt for a CFD provider with negative balance protection and a piece of CFD trading software with sophisticated risk management options.
Mobile Trading
Are you someone that likes to trade CFDs on the go? Unfortunately, not all top CFD trading software is available via an app, which may restrict your trade activity to times when a desktop is accessible. If you wish to trade away from the home office, selecting CFD trading software that is available on a mobile will be key.
CFD Trading Software Around The World
Not all CFD trading software is permitted to operate in every country due to regulation. Therefore, when looking for the best CFD trading platform, it is important to understand the rules and requirements around CFD trading from your country.
CFD trading software is permitted in many of the biggest global financial hubs, including the UK, Germany, Singapore, Australia, South Africa, Canada and Malaysia. While CFD trading platforms are permitted in India, there is limited regulatory oversight through a licensing system. Therefore the best CFD trading platforms for Indian traders can often be found with regulated offshore brokers.
As for the US, CFD trading platforms are banned by the Securities and Exchange Commission for US residents and, while CFD trading software is permitted in Australia, the Australian Securities and Investment Commission (ASIC) has issued tougher restrictions on leverage offered to retail clients.
Final Word
CFD trading software provides a gateway to CFD markets, allowing traders to open positions and complete vital analyses. However, when it comes to the best CFD trading software, there is no one-size-fits-all. Each CFD trading platform will cater to different trading strategies, experience levels and markets. Nonetheless, the most popular pieces of CFD trading software in the market are the MT4 and MT5 platforms, available with many of the top brokers.
FAQs
What Is CFD Trading Software?
CFD trading software provides a gateway for traders to analyse the market and open and close positions. It is the platform interface that enables transactions between traders and the broker and provides access to the markets.
What Are The Cheapest CFD Trading Platforms?
The cheapest CFD trading platforms will be dictated by the broker and not the choice of the software itself. Opt for a broker with low commission, no hidden fees and low interest on overnight positions. Additionally, you should consider any deposit and withdrawal charges or minimum deposit requirements.
What Is The Best CFD Trading Platform For Beginners?
MetaTrader’s MT4 is one of the best CFD trading platforms for beginners. MT4 is available for users all over the world, including the UK, Australia and UAE. The platform has a user-friendly interface with a good range of tools and charts to suit new traders.
Can I Trade On CFD Trading Software In The US?
Unfortunately, CFD trading platforms are not permitted in the US. The Securities and Exchange Commission has banned US residents from trading CFDs. US traders can still trade on unregulated CFD trading platforms but run the danger of being scammed in an already risky market.
How Do I Know If A CFD Trading Software Is Good For Me?
Most CFD providers offer the opportunity for virtual or ‘paper’ trading using a demo account. This gives traders the ability to test out the CFD trading software and its functionality before committing to a real, live account. Demo accounts are ideal for those new to trading as they provide a risk-free environment to test out strategies with virtual funds.