Trading is becoming increasingly popular. As more ordinary people dabble in the stock market, they begin to trade other stocks or futures, such as ETFs, options, or CFDs. However, because CFDs are not traded in the United States, they are one of the most notoriously tricky markets to find a great trading platform.
However, choosing a CFD trading platform is far more critical than you think.
Regarding CFD choices, some trading platforms provide bonuses that their rivals don’t, essentially allowing you to choose from a broader range of or higher-quality CFD products. Others may have better interfaces or different jurisdictions depending on where they are from.
Let’s look at the best cfd trading platform today and see which ones are best for different traders.
- Forex.com:
Forex.com is a well-known trading platform regulated in countries ranging from the United States to Japan and the Cayman Islands. Their CFD options, on the other hand, are available to many non-US clients and are incredibly affordable. They are among international traders’ most affordable and effective CFD trading platforms.
If you don’t want to use a platform with a lot of trading fees, Forex.com is an excellent option. While their stock index CFD fees are low, their stock CFD fees are high, which is typical of other trading platforms. After a year of inactivity, they charge a $15 monthly fee, but this isn’t much, and Forex.com is still reasonably priced.
Opening an account is simple and completely digital, though it takes two business days to complete. This is a more approachable CFD trading platform due to the low initial deposit requirement of around $50. There are three account types available: two with higher spreads and no commission, one with a lower spread and a low commission of $2 per lot per trade.
- Interactive Brokers:
Interactive Brokers offers nearly every trading tool you can imagine, catering to advanced and novice investors. They offer a pair of desktop and mobile apps that are strikingly similar and intuitive, and they’re an excellent choice for various reasons.
You’ll appreciate the low commission fees, competitive margin rate, and flexible trading tools in this regard. It is, without a doubt, the best CFD trading platform for long-term use and potential.
Interactive Brokers offers two tiers of service, the standard IKBR for professional or experienced traders and the more basic IKBR Lite for a novice or infrequent investors. If you go with the second option, all stock and ETF trades on US exchanges are free. It supports 31 countries and 125 markets, making it an excellent choice for global traders.
- eToro:
eToro is a Cyprus-based premium trading platform that was founded in 2007. They are pretty popular on a global scale, and while they may not be the best option for general stock trading, they are an excellent option for CFD trading in particular.
With a wide selection of CFDs, low initial and ongoing CFD fees, and a focus on niche markets, they are among the best (or specialized) CFD trading platforms without breaking the bank.
Furthermore, eToro is regulated in two tier-1 jurisdictions and one tier-2 jurisdiction; this means that CFD and forex trading are relatively low risk.
You can access around 2000 CFD options through their limited general product catalogue. To compensate for this, eToro’s CFD product catalogue is more extensive than you might expect. This is because the company employs several algorithms to scour markets for data and potential CFD offerings that are not yet available but could be shortly.
Best forex brokers in India:
Let’s have at two of our best recommended best forex broker in india and let you decide to choose what is best for you.
- XM – Multiple Forex Trading Accounts with a $5 Minimum Deposit:
For low-budget investors, XM is one of the best Indian forex trading platforms. This broker’s supported account types all require a $5 minimum deposit. This can be funded using a debit/credit card, a bank wire, or other accepted payment methods.
In addition to accepting low minimum deposits, one of XM’s many selling points is its high leverage, which can reach 1:1000 on major forex pairs and lower on other asset classes. The minimum trade size at XM is 0.01 lots. We also like that XM has created its mobile app, which is available for free download on iOS and Android devices. Online trading is also possible with MT4 and MT5.
- HotForex – Offshore Forex Broker with High Leverage:
From our list of the best forex brokers in India, HotForex is another top-rated platform to consider. That this broker provides access to over 1,200 different trading products is a significant selling point for us.
There are 15 payment methods, including bank wires and debit/credit cards. Fees are also very competitive here, though this will vary depending on the account type selected. The raw account, for example, has zero spreads on majors and a commission policy of $3 per lot.
This account type has a $200 minimum deposit and a maximum leverage facility of 1:500. A micro account may be preferable for inexperienced traders. This provides commission-free forex trading with a one-pip starting spread. The micro account has higher leverage limits of 1:1000 and a $5 minimum deposit.
