CFD Brokers

The best CFD brokers 2022 can get lost in the long list of providers. Before you join a CFD trading platform, you need to understand what a CFD broker is, how they make money, and what to compare when weighing up your options. We’ll also cover regulation, payment methods and reviews of some of the largest, top CFD brokers in the world.

Top CFD Brokers

  1. Go long and short on a range of popular financial markets

    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
  2. Trade leveraged CFDs on a variety of assets including stocks, commodities and forex

    Forex trading involves risk. Losses can exceed deposits

    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
  3. Trade CFDs on FX, stocks, indices, & cryptocurrencies

    FTSE Spread
    1
    GBPUSD Spread
    0.7
    Stocks Spread
    Variable
    Leverage
    1:30 EU, 1:500 Global
    Regulator
    HCMC (Greece), FSCA (South Africa)
    Platforms
    MT4, MT5
  4. 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
  5. IB Boast a huge market share of global trading. With a minimum deposit of $10,000 however, they remain an option for larger traders only.

    FTSE Spread
    0.005% (£1 Min)
    GBPUSD Spread
    Commission (.20 pts x trade value)
    Stocks Spread
    From 0.003 per share, variable
    Leverage
    1:50
    Regulator
    SEC, FCA, IIROC, SFC
    Platforms
    AlgoTrader, OmniTrader
  6. Use leveraged CFDs to speculate on popular financial assets with tight spreads.

    FTSE Spread
    Av. Floating 100 pips
    GBPUSD Spread
    Av. Floating 0.6
    Stocks Spread
    Floating, commissions as low as 0.01%
    Leverage
    1:1000
    Regulator
    BVI FSC
    Platforms
    MT4, MT5

What Is A CFD Broker?

CFDs, often traded with leverage or on margin, are an over the counter (OTC) derivative instrument, meaning you never own the underlying asset. Instead, profits are made from movements in price from when you enter and close a trade. A CFD Broker is the online trading platform that gives you access to these instruments, and different brokers may offer CFDs on different underlying assets like currency pairs, stocks, commodities and cryptos.

See here for further guidance on trading CFDs, including strategies.

How Do CFD Brokers Work?

CFD brokers facilitate the trading process through an online platform. Users sign up for an account, deposit funds, trade CFD products and then withdraw any profits.

Account types differ, as does the quality of platforms, the fees charged, and customer service.

The products available also vary. However at the biggest brokers, you can expect to trade online CFD products in:

  • Forex
  • Stocks
  • Futures
  • Options
  • Commodities
  • Cryptocurrency
  • ETFs

Types Of CFD Brokers

CFD brokers can be split into two categories:

  1. Market makers – Brokerages purchase significant positions from liquidity providers which they then sell to individuals. They match selling assets to traders with buy orders and vice versa. Market makers often accept lesser deposits as they can cover liquidity deficits.
  2. Direct Market Access (DMA) brokers – DMA brokerages let users go straight to liquidity providers. The most common type is an Electronic Communication Network (ECN) broker. Upon entering a position, your trade heads straight to the ECN, passing through the broker without any intervention. The downside is that users need more capital as DMA providers don’t cover liquidity gaps.

Note there are also advisory brokers, who give guidance and recommend trades. However, following a crackdown from legislators, the list of regulated CFD advisory firms has shrunk. This article will concentrate on non-advisory CFD brokers.

Types Of Accounts

The top CFD brokers offer different accounts. Some are best for beginners while others are geared towards advanced traders:

  • Micro Account – Best for beginners, minimum deposits start at just $50.
  • Mini Account – Good for beginners and up, minimum deposits start at $500.
  • Standard Account – The most popular type of account requiring an average minimum investment of $1,000. This type of account will also come with higher leverage options.
  • VIP Account – Mostly used by institutional investors, you’ll need $20,000 to open a VIP account. However, leverage and customer support will trump other accounts.

How Do CFD Brokers Make Money?

When you’re doing a comparison of CFD brokers, you need to consider costs. But to do that, you first need to understand how they make money.

Spreads & Commissions

Most platforms will make money through spreads. This is the difference between the quoted buy and sell prices, and real market prices.

It’s essentially a mark-up for the broker’s services. Fees also come in the form of commissions which take a percentage of each trade. The good news is that to stay competitive, many of the best CFD brokers are waiving commission fees.

Financing & Hedging

CFD brokers make money through financing. When clients trade using margin or leverage, they essentially borrow funds from the brokerage to increase their position size. Most firms factor in a fee for these financing services.

CFD brokers may also make money through hedging. To do this, they aim to offset potential losses by matching a complementary trade in a different market. So if the trader wins, for example, they have offset their liability.

Note some brokerages also charge deposit and withdrawal fees.

CFD Broker Reviews

The best CFD trading brokers will have positive customer reviews. Of course, it’s important to note that rankings will vary depending on what you’re seeking. The best broker for beginners may not suit the advanced needs of an experienced trader.

To compare the top CFD providers you also need to factor in where you live. The best DMA brokers in the UK, for example, will be different from those in New Zealand or Nigeria.

Reviews of CFD Brokers
Broker Demo Min Dep. MT4 Bonus
10TradeFX Yes $200 No Yes
12Trader Yes $500 No No
4xCube Yes $10 Yes No
A+ Trader No $100 Yes Yes
AAAFx Yes $10 Yes Yes
AAATrade Yes 0 No Yes
Absolute Markets Yes $50 Yes Yes
AccentForex Yes $50 Yes Yes
ActivTrades Yes $10 Yes Yes
ACY Securities Yes $50 Yes No
Admiral Markets Yes $100 Yes No
AdroFX Yes $25 Yes Yes
ADS Securities Yes $100 Yes No
AETOS Yes $250 Yes Yes
AGEA Yes $1 Yes Yes
Alpari Yes $5 Yes Yes
Alpho Yes $100 No No
Alvexo Yes 500 EUR/USD Yes No
Amana Capital Yes $50 Yes Yes
AMarkets Yes $100 Yes Yes
AMP Global Yes $100 No No
Anzo Capital Yes $100 Yes Yes
ArgusFX No $0 Yes No
Arum Capital Yes $500 No No
AskoBID No €250 No No
ATC Brokers Yes $5,000 No No
ATFX Yes 5000 $/€/£ Yes No
AvantGardeFX Yes $500 Yes No
AvaTrade Yes $100 Yes Yes
Axes Yes $100 No No
Axi Yes 0 $/€/£ Yes No
Axiory Yes $10 Yes No
Ayondo Yes $100 No Yes
AZAforex Yes $1 No No
Baxia Markets Yes $50 Yes No
BCS Forex Yes $1 Yes Yes
BDSwiss Yes 100 $/€/£ Yes No
Binary.com Yes $5 Yes No
BinaryCent Yes $250 No Yes
BlackBull Markets Yes $0 Yes No
Blackwell Global Yes $250 Yes No
Blueberry Markets Yes $100 Yes No
BMFN Yes $50 Yes No
BP Prime Yes $5,000 Yes No
Brokereo Yes $250 Yes No
Bulbrokers Yes $100 Yes No
BUX X Yes $50 No No
Capex Yes $100 No Yes
Capital Index Yes $100 Yes Yes
Capital.com Yes £/$/€20 (By credit card - varies by payment method) Yes No
CGS-CIMB Yes 100 SGD Yes No
City Credit Capital Yes $500 Yes No
CityIndex Yes £/$100 (varies by location) Yes No
CIX Markets Yes $500 Yes No
CLMarkets Yes $100 Yes No
CMC Markets Yes £0 Yes No
CMSTrader Yes $500 No No
CMTrading Yes $100 Yes No
Colmex Pro Yes $500 Yes No
Core Spreads Yes $0 Yes No
CPT Markets Yes $100 Yes No
CrescoFX Yes $1,000 Yes No
Daniels Trading Yes $2,000 No No
Darwinex Yes $500 Yes No
DeltaStock Yes $100 Yes Yes
Deriv.com Yes $5 No No
DIF Broker Yes Undisclosed No No
DirectFX No $100 Yes No
DMM FX Yes Undisclosed Yes No
Dukascopy Yes $100 Yes Yes
E-Trade Yes $500 Yes Yes
EagleFX Yes $10 Yes No
Easy Markets Yes €100 Yes No
EFG Hermes Yes $0 No No
Eightcap Yes £/€/$100 Yes No
Equiti Yes $500 Yes No
ETFinance Yes $250 Yes No
EuropeFX Yes €200 Yes No
EuroTrader Yes $0 Yes No
EverFX Yes $250 Yes Yes
eXcentral No $250 Yes No
Exinity No Trader Pro: $10,000; Trader: $100; 
World: $20 Yes No
Exness Yes $10 Yes No
EZ Invest Yes $500 Yes No
Fair Forex Yes $50 Yes No
FairMarkets Yes $0 Yes No
FBS Yes $1 Yes Yes
FCMarket Yes $500 Yes No
FIBO Group Yes $50 Yes No
Financial Spreads Yes £250 No No
Financika No $200 No Yes
Finexo Yes $100 Yes No
Finotrade Yes $1,000 Yes No
FinPros Yes $100 No No
Finq.com Yes $100 Yes Yes
Finveo Yes $100 Yes No
Focus Option Yes $10 No No
Fondex Yes $0 No No
Forex.com Yes $100 Yes Yes
Forex4you Yes $0 Yes Yes
ForexChief Yes $10 Yes Yes
ForexMart Yes 1 EUR/USD Yes Yes
ForexTB Yes $250 Yes No
Fortrade Yes $100 Yes No
FP Markets Yes $100 Yes No
FreshForex Yes $10 Yes Yes
Fullerton Markets Yes $100 Yes Yes
Fusion Markets Yes $0 Yes No
FXCC Yes $0 Yes Yes
FXCentrum Yes $10 No Yes
FXChoice Yes $100 Yes Yes
FXCL Yes $1 Yes No
FXCM Yes £300 Yes No
FXDD Yes $/£1 Yes No
FXFlat Yes €200 Yes No
FXGiants Yes $100 Yes Yes
FXGM No $200 No No
FxGrow Yes $100 No No
FxNet Yes $50 Yes No
FXOpen Yes $1 Yes No
FXPesa Yes $5 Yes Yes
FXPIG Yes $200 Yes No
FxPlayer Yes $50 Yes Yes
FXPrimus Yes $15 Yes Yes
FxPro Yes $100 Yes No
FXTM Yes $50 Yes Yes
FXTrading.com Yes $200 Yes Yes
Fxview Yes $200 EU clients, $50 global clients Yes No
GCI Yes $500 Yes Yes
GemForex Yes $1 Yes Yes
GKFX Yes €100 Yes No
Global Market Index Yes $2,000 Yes No
Global Prime Yes AUD $200 Yes No
GO Markets Yes $200 Yes Yes
Golden Brokers Yes $100 No No
GoStreams Yes $100 Yes No
Grand Capital Yes $10 Yes Yes
Hantec Markets Yes $10 Yes No
HotForex Yes $100 Yes No
House Of Borse Yes $5,000 Yes No
HQBroker No $250 Yes No
Hugo's Way Yes $50 Yes No
HYCM Yes $100 Yes Yes
IC Markets Yes $200 Yes No
ICE FX Yes $30 Yes No
ICM Brokers Yes $300 Yes No
ICM Capital Yes $200 Yes No
IFC Markets Yes 1 USD / 1 EUR / 100 JPY Yes Yes
IFGM Yes $200 Yes No
iFOREX Yes $100 No No
IG Group Yes £250 Yes No
IMMFX Yes 50 USD Yes Yes
Infinox Yes £1 Yes No
InstaForex Yes $/€1 Yes Yes
Interactive Brokers Yes $10000 No No
InterForex Yes $500 No Yes
Intertrader Yes $500 Yes Yes
IQ Option Yes $10 No No
IQCent Yes $50 No Yes
IronFX Yes $100 Yes Yes
ITradeFX Yes $0 No No
JFD Bank Yes $500 Yes No
JP Markets Yes $0 Yes Yes
Juno Markets Yes $100 Yes Yes
Just2Trade Yes $100 Yes Yes
JustMarkets Yes $1 Yes Yes
Key To Markets Yes $100 Yes No
Khwezi Trade Yes R500 Yes Yes
KLMFX Yes $250 No Yes
Land FX Yes $300 Yes Yes
Larson & Holz Yes $250 No Yes
LBLV Yes $5,000 No Yes
LCG Yes 0 $/€/£ Yes No
LDC Yes $100 Yes No
LegacyFX Yes $500 No No
LH Crypto Yes €10 No No
Libertex Yes €100 Yes No
LidyaTrade Yes $300 No Yes
LiteFinance Yes $50 Yes Yes
LiteForex Europe Yes $50 Yes No
Livemarkets Yes $250 Yes No
LMFX Yes $50 Yes Yes
LonghornFX Yes $0 Yes No
LQDFX Yes $20 Yes Yes
M4Markets Yes $5 Yes Yes
Markets.com Yes $100 Yes No
Mega Trader FX Yes $0 Yes Yes
Mitrade Yes $0 No Yes
Mitto Markets Yes $0 Yes No
Moneta Markets Yes $50 Yes Yes
MTrading Yes $100 Yes Yes
MultiBank FX Yes $50 Yes Yes
Naga Yes $250 Yes Yes
NBH Markets Yes $100 Yes No
nextmarkets Yes $0 No No
Noble Trading Yes $100 Yes Yes
NordFX Yes $10 Yes Yes
NPBFX Yes $10 Yes Yes
NSFX Yes $300 Yes No
OBR Invest Yes $250 Yes No
OctaFX Yes $100 Yes Yes
OpoForex Yes $100 Yes Yes
Orbex Yes $200 Yes No
OspreyFX Yes $50 Yes Yes
Oval X Yes £250 Yes No
PaxForex Yes $10 Yes Yes
Pepperstone Yes $500 recommended Yes No
Plus500 Yes $100 No No
Price Markets Yes $5,000 Yes No
ProfitiX No $250 No No
ProOption24 Yes $200 No Yes
PU Prime Yes $50 Yes Yes
Purple Trading Yes $20 Yes No
Questrade Yes $1,000 No Yes
RaceOption Yes $250 No Yes
Robinhood No $0 No No
RoboForex Yes $10 Yes Yes
RoboMarkets Yes $/£/€100 Yes No
Rockfort Markets Yes $200 Yes Yes
Sage FX Yes $10 Yes Yes
Saxo Bank Yes $10000 No No
Scope Markets No $500 No No
Sheer Markets Yes $200 Yes No
SimpleFX Yes $0 Yes No
Skilling Yes 100 EUR/USD/GBP or 1000 NOK/SEK Yes Yes
Smart Prime FX Yes $25,000 Yes No
SmartFX Yes Undisclosed No No
SolidusX No $500 No Yes
Spectre.ai Yes $0 No No
Spread Co Yes £200 No No
Spreadex No £0 No Yes
SquaredFinancial Yes $100 Yes No
Stratton Markets Yes £250 Yes No
StreamsFX Yes $500 Yes No
SuperForex Yes $1 Yes Yes
SVK Markets Yes $100 Yes No
Swissquote Yes $1000 Yes No
Switch Markets Yes $50 Yes Yes
SynergyFX Yes $50 Yes Yes
TeleTrade Yes 100 EUR/USD Yes No
Templer FX Yes $1 Yes Yes
TeraFX Yes $100 Yes No
ThinkMarkets Yes $0 Yes No
Tickmill Yes $100 Yes Yes
Tier1FX Yes $1,000 Yes No
Tiger Brokers Yes $0 No No
TIO Markets Yes $50 Yes No
Tixee Yes $10 Yes Yes
TMGM Yes $100 Yes Yes
TMS Brokers Yes $0 No No
TopFX No $50 Yes Yes
TP Global FX Yes $200 Yes Yes
Trade Nation Yes $0 Yes Yes
Trade Republic No $0 No No
Trade.com Yes $100 Yes No
Trade12 No $250 Yes No
Trade360 Yes $250 No No
TradeFW Yes $250 Yes Yes
Trader's Way Yes $10 Yes Yes
TradeStation Yes $500 Yes No
TradeTime Yes $500 Yes Yes
Tradeview Yes $100 Yes Yes
Trading 212 Yes €/£/$1 No No
TrioMarkets Yes $500 Yes No
UFX Yes $100 Yes No
UOB Kay Hian No $3,000 No No
Uptos No $250 No No
Valutrades Yes $0 Yes No
Vantage Yes $200 Yes Yes
Varianse Yes $500 Yes No
Vault Markets No $5 Yes Yes
Videforex Yes $250 No Yes
VT Markets Yes $200 Yes Yes
Weltrade Yes $25 Yes No
WH SelfInvest Yes €500 Yes No
Windsor Brokers Yes $100 Yes Yes
World Forex Yes $1 Yes Yes
XBTFX Yes $5 Yes No
XE Prime Yes $50 No Yes
XGlobal Markets Yes $500 No No
XM Yes 5 $/€/£ Yes Yes
XTB Yes $0 No Yes
XTrade Yes $250 No No
Yadix Yes $100 Yes Yes
Zenfinex Yes $50 Yes No
Zero Markets Yes $200 Yes Yes
ZuluTrade Yes Varies depending on broker, minimum balance $100 Yes No

CFD Trading Platforms

The best CFD brokers provide clients with an easy to use platform. Some will have developed their own bespoke trading platform, others will integrate popular well established platforms.

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are particularly popular platforms. Many brokers will try and ensure their platform integrates with Metatrader. Some traders use it for analysis, and integrated trading gives them confidence in their broker.

cTrader is a similar platform that is utilised by a range of online cfd brokers.

Most top providers offer systems that are available on both your computer and through a mobile app.

When considering your options, a useful tip is to open a demo account. You can take the platform for a test run first, checking it’s reliable and has all the charts and analysis tools you’ll need.

Payment Methods

The best online CFD brokers will offer a range of deposit and withdrawal methods. Most providers facilitate debit and credit card transactions.

Bank transfers are also popular, but while secure, they can take several days. Other common payment methods include PayPal and cryptocurrency.

When looking at reviews, it’s worth checking for any deposit and withdrawal fees. Your comparison should also include a check for payment limits. A prime example found at many platforms is a limit on the number of free payments per month, with any additional incurring a charge.

Regulation

Traders should only use regulated CFD brokers. Regulatory bodies protect users from scams and uphold confidence in the market. Fortunately, the list of regulated platforms in most countries is long.

In the UK, CFD brokers are regulated by the Financial Conduct Authority (FCA), headquartered in London. The protection afforded by the FCA includes caps on leverage and margin trading.

ESMA (European Securities and Markets Authority) is a Pan-European organisation that makes recommendations to national regulators, like the FCA in the UK, or CySec in Cyprus.

As these regulators ‘passport’ their services throughout the EU, they must adhere to the ESMA guidance – so there is almost two level of regulation in the EU right now.

Other regulators under the ESMA umbrella include BaFin in Germany, and the regulators in France, Switzerland and Denmark.

Elsewhere, providers in Dubai are regulated by the Central Bank of the UAE and the Dubai Financial Services Authority (DFSA).

In Switzerland, CFD brokers fall under the supervision of the Swiss Financial Market Supervisory Authority. You’ll also find many global brokers with negative balance protection, meaning you can’t lose more than your original deposit.

Access to the best CFD brokers in the USA is largely restricted. Fortunately, there are still some platforms that accept US clients. But on the whole, for US citizens it does mean more shopping around is required. Note UK and European investors can still trade CFD assets on US stocks.

The key takeaway is to check a provider is regulated in your jurisdiction before you open an account. See our regulation page for more details.

Interactive Brokers

US-based Interactive Brokers receives particularly positive reviews for its CFD offering. Promising competitive spreads and commissions, plus generous financing and margin requirements, it’s a sensible choice for clients focussed on pricing and costs. Their platform also has a straightforward margin calculator.

The list of CFD products at Interactive Brokers includes stocks and shares found on multiple indices, such as the DAX, plus forex, gold, and cryptocurrencies like Bitcoin. Note Interactive Brokers’ CFDs on stocks pay dividends too.

Interactive Brokers use the Trader Work Station (TWS) platform. Although arguably not the best system, which is often thought to be MetaTrader 4 (MT4), it still contains all the trading tools, symbols, and charts needed.

Interactive Brokers also has permission to offer CFD products in the UK, Germany, and Japan, amongst others. But CFD products are not available to offshore residents from certain countries, including Canada and Hong Kong.

Check out our reviews of other big names, including Plus500 and eToro.

Final Word

The best CFD brokers promise attractive leverage options, a user-friendly platform, and a wide range of products. With the list of regulated CFD brokers growing, make sure you do a thorough comparison before you sign up. Finally, remember there is no universal best broker, it will come down to personal preference.

FAQ

What’s a CFD broker?

A CFD broker enables users to trade assets through their online CFD trading platform.

How do CFD brokers make money?

CFD brokers make money through commissions, including a mark-up on spreads and financing, plus through hedging.

What assets can you trade with a CFD broker?

You can trade almost all assets through a CFD broker, from stocks and shares to forex, ETFs and cryptocurrency.

Should I open a demo CFD trading account or a live account?

A demo account is a fantastic tool for beginners. It allows you to trial a broker while also practicing CFD trading. When you’re comfortable, you can then open a real account.

Can CFD brokers be trusted?

To make sure you are using a reliable CFD broker , check they are regulated where you live and read our reviews.

This will help keep you away from websites set up to scam hopeful CFD traders.

For Specific Countries