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Best CFD Trading Platforms and Brokers in South Korea 2024

Written By

James Barra

Written By

James Barra

James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.

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Fact Checked By

Jemma Grist

Fact Checked By

Jemma Grist

Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.

» Jemma Grist Profile Page

Updated

Mar 20, 2024

CFD trading in South Korea has come under the spotlight in recent years, having been suspended in 2023 after stock manipulation schemes cost investors up to one trillion won. It has since resumed under tighter rules from Korea’s Financial Services Commission, resulting in fewer local brokers.

Explore our selection of the best CFD brokers in South Korea. Every CFD trading platform accepts retail investors from South Korea and has earned the trust of our experts.

Top 5 CFD Trading Platforms in South Korea

After testing close to 500 brokers, these 5 platforms emerged as the best for CFD traders in South Korea:

1. AvaTrade - AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit.
2. Deriv.com - Deriv.com will suit day traders looking to make fast-paced trades using CFDs and multipliers with high leverage up to 1:1000. The broker is also the industry leader in synthetic indices, which simulate real market movements and are available around the clock.
3. Pepperstone - Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support.
4. XM - XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading.
5. 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.

Best CFD Trading Platforms and Brokers in South Korea 2024 Comparison

Best CFD Trading Platforms and Brokers in South Korea 2024 Comparison

Broker	CFD Trading	Minimum Deposit	Markets	Platforms	Leverage	Visit
	✔	$100	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting	WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade	1:30 (Retail) 1:400 (Pro)	Visit
	✔	$5	CFDs, Multipliers, Forex, Stocks, Indices, Commodities	Deriv Trader, MT5	1:1000	Visit
	✔	$0	CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting	MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade	1:30 (Retail), 1:500 (Pro)	Visit
	✔	$5	Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures	MT4, MT5	1:1000	Visit
	✔	$200	CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto	MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade	1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)	Visit
	✔	$100	CFDs, Forex, Stocks, Indices, Commodities, Crypto	MT4, MT5, TradingView	1:500	Visit
	✔	$100	CFDs, Forex, Indices, Commodities, Stocks, Crypto	MT4, MT5	1:500	Visit
	✔	$100	Forex, CFDs, Stocks, Indices, Commodities, Futures, Options, Crypto	MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral	1:200 (Retail), 1:500 (Pro)	Visit
	✔	$50	CFDs, Forex, Stocks, Indices, ETFs, Smart Portfolios, Commodities, Futures, Crypto, NFTs	eToro Web, CopyTrader, TradingCentral	-	Visit
	✔	$10	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures	R StocksTrader, MT4, MT5, TradingView	1:2000	Visit
	✔	$1	Currencies, Cryptocurrencies, Stocks, Indices, Metals, Oil and Gas, Commodity Futures and InstaFutures	MT4, MT5	1:1000	Visit
	✔	$20	Forex, CFDs, Stocks, Indices, Commodities, Crypto	MT4	1:1000	Visit
	✔	$0	Forex, CFDs, Indices, Shares, Commodities, Futures, Bonds, Cryptos (Bahamas Entity Only)	MT4	1:500 (entity dependent)	Visit
	✔	$100	Forex, CFDs, Stocks, Indices, Commodities and Cryptos	Skilling Trader, MT4, cTrader, TradingView	1:1000	Visit
	✔	$0	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting	Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral	1:30 (Retail), 1:250 (Pro)	Visit

#1 - AvaTrade

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Review

Why We Chose AvaTrade

AvaTrade's 1250+ leveraged CFD products span a wide range of asset classes including stocks, indices, commodities, bonds, crypto, and ETFs. You can speculate on underlying assets in the broker’s feature-rich web and mobile platforms with market-leading research tools to help discover opportunities.

• FTSE Spread: 0.5
• GBPUSD Spread: 1.5
• Stocks Spread: 0.13
• Leverage: 1:30 (Retail) 1:400 (Pro)
• Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM
• Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade

About AvaTrade

AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, alongside a comprehensive education center and multilingual customer support.

Pros

• AvaTrade is a heavily regulated and trustworthy broker with licenses from the ASIC, CySEC and more
• The broker’s unique risk management tool, AvaProtect, protects against losses up to $1 million and is easy to activate in the platform
• The broker offers reliable 24/5 multilingual customer support with fast response times during testing

Cons

• A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
• Traders from the US are not accepted
• It’s a shame that there are no rebate schemes for serious traders looking for additional perks - CMC Markets would be a better choice here

Visit AvaTrade

#2 - Deriv.com

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Review

Why We Chose Deriv.com

You can trade CFDs on popular markets, including the broker's exclusive synthetic indices which are available 24/7. There are plenty of charting tools available for technical traders, including over 20 indicators in the Deriv Trader platform. New users can also open an account and start trading CFDs instantly.

• FTSE Spread: 0.5
• GBPUSD Spread: 0.5
• Stocks Spread: 0.07
• Leverage: 1:1000
• Regulator: MFSA, LFSA, VFSC, BFSC
• Platforms: Deriv Trader, MT5

About Deriv.com

Deriv.com is a low cost, multi-asset broker with over 2.5 million global clients. With just a $5 minimum deposit, the firm offers CFDs, multipliers and more recently accumulators, alongside proprietary synthetic products which can't be found elsewhere. Deriv provides both its own in-house charting software and the hugely popular MetaTrader 5.

Pros

• The low $5 minimum initial deposit suits those on a lower budget
• The free demo account is ideal for practicing short-term trading strategies and no registration is required
• Deriv continues to offer fast and reliable 24/7 support and the WhatsApp service is particularly convenient

Cons

• There are limited copy trading tools and analysis features compared to alternatives like IQ Cent
• The range of 100+ assets trails some competitors such as Quotex which offers 400+
• There's no loyalty program or rebate scheme for high volume traders

Visit Deriv.com

#3 - Pepperstone

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Review

Why We Chose Pepperstone

Pepperstone maintains its position as one of the fastest and most dependable CFD brokers during our latest round of testing. With execution speeds averaging around 30ms and an outstanding fill rate of 99.90%, the broker ensures a seamless trading experience without requotes or dealing desk interference. It also provides ample trading opportunities across over 1,300 assets.

• FTSE Spread: 1.0
• GBPUSD Spread: 0.4
• Stocks Spread: 0.02
• Leverage: 1:30 (Retail), 1:500 (Pro)
• Regulator: FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
• Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade

About Pepperstone

Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.

Pros

• There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
• Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for day trading.
• Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.

Cons

• Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
• There’s no simplified proprietary trading platform, nor are there any social trading features, which could be a disadvantage if you are new to day trading.
• Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.

Visit Pepperstone

#4 - XM

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Review

Why We Chose XM

Day traders can speculate on leveraged CFDs with zero commissions, spanning popular markets including currencies, equities and commodities. Additionally, the MetaTrader platforms collectively offer dozens of advanced technical indicators built for short-term strategies.

• FTSE Spread: 1.5 pts
• GBPUSD Spread: 1.9
• Stocks Spread: 0.002
• Leverage: 1:1000
• Regulator: ASIC, CySEC, DFSA, FSC, FSCA
• Platforms: MT4, MT5

About XM

XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.

Pros

• XM is a hugely respected broker authorized by tier-one regulators
• The broker offers premium research including market sentiment, fundamental insights and strategy builders
• XM continues to deliver diverse and multilingual educational materials and offers a useful live education schedule for its webinars and insights

Cons

• PayPal deposits are not supported
• There's $5 inactivity fee after only 3 months, though this won't affect active traders
• There is weak regulatory oversight through the global entity

Visit XM

#5 - IC Markets

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Review

Why We Chose 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.

• 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, FSA
• Platforms: MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade

About IC Markets

IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.

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.
• With ultra-fast execution speeds averaging 35 milliseconds and deep liquidity, IC Markets provides an optimal trading environment for scalpers, hedgers, and algorithmic traders.
• As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.

Cons

• 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.
• Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
• There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.

Visit IC Markets

How We Chose The Best CFD Trading Platforms In South Korea

To find the best CFD trading platforms in South Korea, we took our database comprising nearly 500 brokers that have been tested over many years, identified those that accept South Korean traders, and then ranked them by their overall rating which considers key factors, notably:

We Prioritized Brokers We Trust

We only recommend CFD brokers we trust after balancing their regulatory credentials with their standing in the industry and the observations of our experts during the hands-on testing process.

CFD trading in South Korea is overseen by the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS), with the FSC responsible for policy decisions and the FSS in charge of executing policies and overseeing brokers.

Korean regulators introduced stringent rules on CFDs in September 2023 after Ra Deok-yeon, head of a trading firm, capitalized on flaws in the local CFD trading environment to manipulate stock prices, leading to huge investor losses.

As part of the changes, CFD traders must put down at least 40% of the trading amount, while the monthly balance requirement for qualifying CFD traders has jumped from 50 million won to 300 million won, amongst other requirements.

As a result, the number of locally registered CFD brokers has dropped from 13 to just 4, potentially turning more South Koreans towards trusted global brokers regulated in other jurisdictions.

We Prioritized Brokers With Transparent Leverage Requirements

One of the main draws of CFDs is the ability to use leverage to amplify returns.

Let’s say you want to trade CFDs on popular South Korean stocks, such as Samsung Securities. 1:5 leverage on an outlay of 150,000 won would multiply your trading power and subsequent returns or losses by 5.

Therefore, we selected CFD platforms which offer leverage trading with clear margin requirements, ensuring you understand how much you need to deposit and the balance you need to maintain to prevent a margin call (a request from your broker to deposit more funds before they automatically close out your position).

We Prioritized Brokers With A Great Selection Of Markets

For over 30 years, South Korea has had strict rules in place to prevent foreign investors from entering local markets. And whilst the nation is opening up on domestic stock and bonds, not many global brokers offer CFDs on South Korean instruments beyond currency pairs with the Korean won, such as the USD/KWR.

Even brokers known for their huge investment offerings, such as IG and Interactive Brokers, are being slow on the uptake to add Korean stocks to their suite of CFDs, despite the growing demand we’re seeing from seasoned traders.

In the meantime, we’ve favored brokers with a wide range of CFD trading opportunities, for example, access to stocks and indices from neighboring Asian countries such as Japan.

We Prioritized Brokers With Low Pricing

Maximizing profits is about more than just selecting the right CFD trades – it’s about choosing a broker that offers great spreads, low to no commissions, and potentially rebates if you’re a high-volume trader.

That’s why we record and analyze fees on popular markets and then balance them with the overall CFD trading environment, considering the availability of research tools that provide helpful insights, for example, into the decisions from the Bank of Korea or companies listed on the Korean Exchange.

We Prioritized Brokers With Excellent Trading Tools

CFDs are short-term trading products that lend themselves to strategies like day trading, which typically require powerful charting tools for technical analysis.

We’ve been testing CFD brokers that accept traders from South Korea for years and MetaTrader 4 remains the most widely available option. It’s reliable, feature-rich and also caters to algo traders.

However, an increasing number of in-house solutions rival the MetaTrader suite in the charting department, while also delivering more user-friendly workspaces for aspiring traders, notably eToro.

FAQ

Who Regulates CFD Trading Platforms And Brokers In South Korea?

The Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) regulate CFD trading platforms and brokers in South Korea.

Many CFD brokers registered and authorized in other jurisdictions accept traders from South Korea, however you may give up regulatory safeguards.

How Much Money Do I Need To Open A CFD Trading Account In South Korea?

Our analysis of hundreds of brokers reveals you normally need between 0 and 250 USD, around 0 to 330,000 won, to open a CFD trading account in South Korea.

Having said that, some CFD trading platforms stand out for budget traders, notably Blackbull Markets and Pepperstone, featuring no minimum deposit.

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