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AuthorBy Chris Cammack
Updated: October 24, 2022

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 India for 2022, according to our testing and our research

These are best CFD brokers for 2022

Best CFD Trading Brokers 2022

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Broker
Overall Rating
Official Site
Min. Deposit
Max. Leverage (Forex)
Total CFDs
Share CFDs
Commodity CFDs
Indices
Currency Pairs
Trading Cost (Forex)
Regulators
Trading Desk
Platforms
Support Hours
Compare
FP Markets
4.22 /5
Read Review
Visit Broker >
Your capital is at risk
AUD 100
30:1
10162
10000
11
17
70
USD 7
ASIC Regulated Forex Brokers
CySEC Regulated Brokers
ECN/DMA
IRESS
24/5
XTB
4.29 /5
Read Review
Visit Broker >
Your capital is at risk
USD 0
30:1
4211
1892
26
37
57
USD 7
CySEC Regulated Brokers
FCA Regulated Brokers
Dubai Financial Services Authority
International Financial Services Commission
Komisja Nadzoru Finansowego
Market Maker NDD
xStation5
24/5
Pepperstone
4.61 /5
Read Review
Visit Broker >
Your capital is at risk
USD 0
30:1
0
0
17
28
70
USD 6
FCA Regulated Brokers
ASIC Regulated Forex Brokers
CySEC Regulated Brokers
Dubai Financial Services Authority
Bundesanstalt für Finanzdienstleistungsaufsicht
Securities Commission of the Bahamas
Capital Markets Authority
NDD
24/7
XM
4.25 /5
Read Review
Visit Broker >
Your capital is at risk
USD 5
888:1
1510
1291
10
14
57
USD 16
CySEC Regulated Brokers
ASIC Regulated Forex Brokers
FCA Regulated Brokers
International Financial Services Commission
Market Maker
24/5
HFM (HotForex)
4.43 /5
Read Review
Visit Broker >
Your capital is at risk
USD 5
500:1
1169
71
5
24
53
USD 10
CySEC Regulated Brokers
FCA Regulated Brokers
FSCA Regulated Forex Brokers
Dubai Financial Services Authority
Financial Services Commission
The Seychelles Financial Services Authority
STP
24/5
AvaTrade
4.38 /5
Read Review
Visit Broker >
Your capital is at risk
USD 100
400:1
872
625
25
33
55
USD 9
ASIC Regulated Forex Brokers
FSCA Regulated Forex Brokers
British Virgin Islands Financial Services Commission
Financial Services Agency
CySEC Regulated Brokers
Central Bank of Ireland
Market Maker
Avatrade Social
AvaOptions
24/5
FxPro
4.29 /5
Read Review
Visit Broker >
Your capital is at risk
USD 100
200:1
2241
2090
0
19
70
USD 14
CySEC Regulated Brokers
FSCA Regulated Forex Brokers
Market Maker NDD
FxProEdge
24/7
Skilling
4.07 /5
Read Review
Visit Broker >
Your capital is at risk
EUR 100
500:1
905
750
6
16
73
USD 8
CySEC Regulated Brokers
The Seychelles Financial Services Authority
Market Maker
Skilling Trader
24/5

FP Markets – Widest Variety of CFDs

FP Markets is an Australian CFD broker offering thousands of CFDs to trade, including 60+ Forex pairs, shares, metals, indices, commodities, and cryptocurrencies (Bitcoin, Etherium, Ripple, Bitcoin Cash and Litecoin). Both MT4 and MT5 are available with ECN pricing, ensuring low spreads and fast execution. But for the full range of FP Market’s CFDs the IRESS trading platform offers direct exchange access and leverage of 20:1 on 10,000 global stocks.

MT4 and MT5 trading accounts can be opened with a minimum deposit of 100 AUD. Average spreads on the RAW Account are 0.1 pips (EUR/USD) and commission on this account is 6 USD round turn, making the total trading costs at the low end for the industry. IRESS trading accounts require higher minimum deposits, starting at 1000 AUD for the Standard Account. IRESS trading accounts also attract a brokerage rate, IRESS platform fee and an ASX Live Data fee unless a minimum monthly commission is reached.

FP Markets also offers a range of trading tools including VPS, Autochartist and copy-trading via Myfxbook AutoTrade. For beginners, the Traders Hub gives beginner CFD traders the education they need to get started and includes video tutorials and trading courses.

Pros
  • Well regulated
  • Tight spreads
  • Good range of accounts
  • Great customer support
Cons
  • Expensive withdrawals
AlertAccepts Indian Clients. Average spread EUR/USD 0.10 pips on 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.

XTB – Best Proprietary CFD Trading Platform

A well-regulated STP broker, XTB offers trading on multiple assets, including Forex, indices, commodities, stock CFDs, ETFs, and cryptocurrencies.  XTB offers trading on two live accounts with competitive trading conditions, including tight spreads, high leverage, and no minimum deposit requirements. The main draw at XTB is the award-winning xStation 5 trading platform. Intuitive, powerful, and fast, xStation 5 shows XTB sentiment data in the platform and offers powerful charting tools, one-click trading, and real-time performance statistics so traders can identify areas for improvement.

While xStation 5 is a multiple award-winning platform, some traders may be disappointed that XTB recently removed its support for MT4 – severely limiting platform choice. It’s important to note that as xStation 5 is a proprietary platform it can not be used at other brokers, so traders may feel tied to XTB. For beginners, XTB has some of the best Forex education available. Its Trading Academy is structured into topics and experience levels; it is clear and concise and structured like a course. Market analysis is less detailed but will assist new traders looking for trading opportunities.

Pros
  • Well regulated
  • Tight spreads
  • Low minimum deposit
  • Good for beginners
Cons
  • Limited platform choice
AlertAccepts Indian Clients. Average spread EUR/USD 0.70 pips on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & xStation platforms supported. XTB Group is regulated by CySEC, FCA and the IFSC

Pepperstone – Best ECN CFD Broker

Pepperstone is the leading ASIC-regulated ECN/STP Forex and CFD broker with CFD trading on over 1000 instruments, including Forex, indices, shares, commodities, cryptocurrencies, and currency indices. Pepperstone’s two ECN accounts offer market execution with some of the tightest spreads in the industry – the Razor Account has spreads from 0 pips for the EUR/USD and 7 USD commission.

Pepperstone also offers fixed spreads on its indices CFDs, after-hours trading for US shares, and crypto basket trading – indices of the world’s most highly traded cryptocurrencies.

Pepperstone’s award-winning, 24-hour support provides the foundation for its excellent customer service, where personalised assistance is available via several methods. For beginners interested in CFD trading with an ECN broker, Pepperstone’s also has one of the better education sections offered by a market execution broker.

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
Cons
  • Limited market analysis
AlertAccepts Indian Clients. Average spread EUR/USD 0.60 pips with 0.0 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 Group is regulated by the FCA, ASIC, and the DFSA.

XM – Best CFD Education

An FCA regulated CFD broker with tight spreads over three simple account types, XM offers trading on Forex, shares, commodities, indices, precious metals, and energies. XM stands out for its educational support and market research. XM’s research team provide frequent market updates across all CFD classes in an easy-to-understand manner, highlighting trading opportunities and technical insight. Webinars are available 7 days a week in 19 languages and educational videos cover basic, intermediate, and advanced trading concepts.

All XM accounts have a max leverage 1:30, negative balance protection, and minimum deposits start from 5 GBP. XM also has a strict no-requotes/rejection policy, which means that all trades are always filled at the price expected. Platform support is offered for MT4 and MT5 but MT4 users will only be able to trade Forex, stock indices, precious metals, and energies.

Pros
  • Well regulated
  • Excellent education
  • Free deposits and withdrawals
Cons
  • Dealing desk
  • Wide spreads on its entry-level accounts
AlertAccepts Indian Clients. Average spread EUR/USD 1.60 pips on trading account with lowest minimum deposit. Max leverage 888:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the IFSC.

HFM (formerly known as HotForex) – Best Regulated CFD Broker

HFM is a global CFD broker with regulation from the FCA, CySEC, FSCA, and the CMA. It provides a variety of CFDs including Forex pairs, commodities, indices, shares and crypto. HFM offers lightning-fast STP execution and access to 1000+ CFD instruments on all four different accounts that it offers. The minimum deposit on the Micro Account is exceptionally low, at 5 USD and spreads start at 1 pip on the EUR/USD. For beginners, HFM offers unlimited demo versions of all its account types. For more experienced traders, the HFM Zero Spread Account offers spreads down to 0 pips for a 200 USD minimum deposit.

HFM supports MT4 and MT5 via every method, including the MT4 MultiTerminal, which allows traders to manage multiple MT4 accounts from a single platform. MT4 and MT5 are also available via web, desktop, and Android and iOS apps. Trading tools available include free Autochartist, VPS services and the HFCopy copy trading service.

Pros
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
Cons
  • Limited base currencies
AlertAccepts Indian Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA.

AvaTrade – Best Mobile Trading Experience

AvaTrade is an internationally regulated beginner-friendly CFD broker offering trading on Forex, cryptocurrencies, commodities, indices, stocks, bonds, vanilla options, and ETFs. The AvaTradeGO app provides one of the best mobile trading experiences, and all 1000+ CFD instruments offered by AvaTrade are available in the app, as is the AvaProtect tool, which protects traders from losses for a limited time. Other app highlights include a market trends monitor, zoom function, and seamless synchronisation with AvaTrade’s webtrader.

Avatrade single account features some of the tightest spreads for a commission-free account with a 100 USD minimum deposit – as low as 0.7 pips on the EUR/USD. Maximum leverage is set at 1:400 on MT4 and MT5, which include EA’s, indicators, scalping, hedging, and provides free access to the integrated Trading Central dashboard for both platforms. 

Pros
  • Good for beginners
  • Well regulated
  • Low minimum deposit
Cons
  • Dealing desk
  • Limited market analysis
AlertAccepts Indian Clients. Average spread EUR/USD 0.90 pips on trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA.

FxPro – Best MT5 CFD Broker

FxPro is a respected and well-regulated CFD broker, offering NDD execution on MT5, MT4, cTrader and its own browser-based trading platform. The MT5 account offers a 100 USD opening deposit combined with competitive spreads on 70+ Forex pairs, futures, indices, shares, metals, and energies. Most trades are executed in less than 10 milliseconds and only 9% of orders receive negative slippage. These execution statistics are ideal for traders who want to take advantage of MT5’s algorithmic trading capabilities across a range of assets.

The MT5 account at FxPro offers market execution, variable spreads, no requotes and will allow for partial fills for orders that lack liquidity.  The MT5 account is commission-free with spreads sometimes down to 0.6 pips, though traders will find that the average spread on the EUR/USD is closer to 1.2 pips. FxPro offers a range of technical analysis indicators from Trading Central for MT5 as well as a free VPS service. 

Pros
  • Well regulated
  • Great platform choice
  • Tight spreads
Cons
  • Limited education
AlertAccepts Indian Clients. Average spread EUR/USD 1.40 pips on trading account with lowest minimum deposit. Max leverage 200:1. Islamic account available. MT4, MT5, cTrader and FxPro proprietary trading platform supported. FxPro Group is regulated by FCA, CySEC, FSCA, and the DFSA

Skilling – Most Transparent CFD Broker

Founded in 2016, Skilling is an innovative broker with regulation from CySEC and the Seychelles FSA. It has four simple account options, excellent trading conditions, a broad range of tradable assets, a great range of trading platforms and free deposits and withdrawals.

Skilling’s Standard Accounts require a minimum deposit of 100 EUR and have spreads starting at 0.8 pips (EUR/USD), tighter than the spreads on other brokers’ entry-level accounts. On the Premium Account, spreads tighten to 0.1 pips (EUR/USD) with a commission of 6 USD (round turn), but the minimum deposit is 5000 EUR.

MT4, cTrader, and Skilling’s proprietary trading platform are all supported, with seamless integration provided between cTrader and Skilling’s own platform – an industry first. Skilling is a good all-around CFD broker with a transparent and client-centred approach that will appeal to both beginners and more experienced traders.

Pros
  • Copy trading accounts
  • Tight spreads
  • Great platform choice
Cons
  • No swap-free account option
  • Limited education
AlertAccepts Indian Clients. Average spread EUR/USD 0.80 pips on the trading account with lowest minimum deposit. Max leverage 500:1. MT4, Skilling, and cTrader platforms supported. Skilling is regulated by CySEC, the FCA, and the FSA-Seychelles.

What are CFDs?

What is CFD Trading?

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 market maker CFD brokers in 2022:

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Overall Rating
Regulators
Min. Deposit
Cost of Trading
Trading Commission
No. of FX Pairs
Compare
4.69 /5
Read Review
ASIC Regulated Forex Brokers
Bundesanstalt für Finanzdienstleistungsaufsicht
Dubai Financial Services Authority
Commodity Futures Trading Association
USD 0
USD 6
Fees Included in Spread
80
4.68 /5
Read Review
FCA Regulated Brokers
CySEC Regulated Brokers
ASIC Regulated Forex Brokers
USD 20
USD 6
Fees Included in Spread
137
4.58 /5
Read Review
FCA Regulated Brokers
CySEC Regulated Brokers
ASIC Regulated Forex Brokers
British Virgin Islands Financial Services Commission
USD 100
USD 7
Fees Included in Spread
67
4.38 /5
Read Review
ASIC Regulated Forex Brokers
British Virgin Islands Financial Services Commission
CySEC Regulated Brokers
Central Bank of Ireland
USD 100
USD 9
Fees Included in Spread
55
4.27 /5
Read Review
CySEC Regulated Brokers
FCA Regulated Brokers
Financial Services Commission
Capital Markets Authority
USD 10
USD 15
From 4 USD / ECN Accounts
62

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 ECN CFD brokers in 2022:

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Overall Rating
Regulators
Min. Deposit
Cost of Trading
Trading Commission
No. of FX Pairs
Compare
4.46 /5
Read Review
CySEC Regulated Brokers
ASIC Regulated Forex Brokers
The Seychelles Financial Services Authority
USD 200
USD 8
7 USD / lot - Raw Spread Account
64
4.44 /5
Read Review
ASIC Regulated Forex Brokers
CySEC Regulated Brokers
Finansinspektionen
AUD 200
USD 7
6 USD / lot - GoPlus+
49
4.34 /5
Read Review
FCA Regulated Brokers
ASIC Regulated Forex Brokers
Financial Markets Authority of New Zealand
Dubai Financial Services Authority
USD 0
USD 10
7 USD / lot - PRO account
70
4.27 /5
Read Review
CySEC Regulated Brokers
FCA Regulated Brokers
Financial Services Commission
Capital Markets Authority
USD 10
USD 15
From 4 USD / ECN Accounts
62
4.27 /5
Read Review
CySEC Regulated Brokers
Finansinspektionen
Financial Services Authority – St. Vincent & the Grenadines
USD 25
USD 6
Fees Included in Spread
35

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

Forex Charts

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 CFD brokers with the best demo accounts in 2022:

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Overall Rating
Regulators
Min. Deposit
Cost of Trading
Trading Commission
No. of FX Pairs
Compare
4.48 /5
Read Review
CySEC Regulated Brokers
FCA Regulated Brokers
Labuan Financial Services Authority
FSCA Regulated Forex Brokers
USD 100
USD 4
4 USD / lot
62
4.68 /5
Read Review
FCA Regulated Brokers
CySEC Regulated Brokers
ASIC Regulated Forex Brokers
USD 20
USD 6
Fees Included in Spread
137
4.69 /5
Read Review
ASIC Regulated Forex Brokers
Bundesanstalt für Finanzdienstleistungsaufsicht
Dubai Financial Services Authority
Commodity Futures Trading Association
USD 0
USD 6
Fees Included in Spread
80
4.58 /5
Read Review
FCA Regulated Brokers
CySEC Regulated Brokers
ASIC Regulated Forex Brokers
British Virgin Islands Financial Services Commission
USD 100
USD 7
Fees Included in Spread
67
4.29 /5
Read Review
CySEC Regulated Brokers
FCA Regulated Brokers
Dubai Financial Services Authority
International Financial Services Commission
USD 0
USD 7
Fees Included in Spread
57

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. 

Traders should always use a regulated CFD broker

To protect traders, brokers are required to comply with the following rules:

  • Segregated Accounts: Regulatory bodies require CFD brokers to keep traders’ money in a separate bank account from their own. This means that traders can get their money back if a CFD broker goes bankrupt.
  • 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. The best regulators are CySEC (Cyprus Securities and Exchange Commission), the UK’s FCA (Financial Conduct Authority) and the Australian Securities and Investments Commission (ASIC). 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 CFD brokers with MT4 in 2021 according to our expert’s research:

Scroll for more detailsPreviousNext
Overall Rating
Regulators
Min. Deposit
Cost of Trading
Trading Commission
No. of FX Pairs
Compare
4.69 /5
Read Review
ASIC Regulated Forex Brokers
Bundesanstalt für Finanzdienstleistungsaufsicht
Dubai Financial Services Authority
Commodity Futures Trading Association
USD 0
USD 6
Fees Included in Spread
80
4.68 /5
Read Review
FCA Regulated Brokers
CySEC Regulated Brokers
ASIC Regulated Forex Brokers
USD 20
USD 6
Fees Included in Spread
137
4.58 /5
Read Review
FCA Regulated Brokers
CySEC Regulated Brokers
ASIC Regulated Forex Brokers
British Virgin Islands Financial Services Commission
USD 100
USD 7
Fees Included in Spread
67
4.48 /5
Read Review
CySEC Regulated Brokers
FCA Regulated Brokers
Labuan Financial Services Authority
FSCA Regulated Forex Brokers
USD 100
USD 4
4 USD / lot
62
4.43 /5
Read Review
CySEC Regulated Brokers
FCA Regulated Brokers
Dubai Financial Services Authority
Financial Services Commission
USD 5
USD 10
6 USD / lot - Zero Account
53

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 withdrawal fee. 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 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 consider what you want from a CFD broker when comparing.

Forex Risk Disclaimer

Trading Forex and CFDs is unsuitable 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

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Featured Brokers

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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