Last updated: June 9, 2023
We’ve made a detailed side-by-side comparison of the most established CFD brokerages to find the best brands for your trading needs.
Finding the best broker to trade CFDs or contracts for difference is not a problem if you know what to look for and this user-friendly guide that has been written by our experts will help you on that. Based on the several analysis and tests that we've made, we were able to create this shortlist of the top CFD brokers for the year 2023.
So how did we evaluate these brokers? We've considered the most important factors to look for in a broker such as the minimum deposit, the available platforms, the number of tradable assets and what market classes do they offer. We've also taken into consideration the payment methods that they accept since this is crucial for funding your online trading account. And aside from deposits, we've also looked at their withdrawal processing time. Their spreads have also been compared and their licenses from financial regulators as well. Those that were able to make it on our list are the ones that have an active license from CySEC, FCA or ASIC.
Our Score: 9.8
Best for traders who are looking for a well-diversified portfolio
| SPECIFICATIONS | Minimum Deposit: $100
Platforms: Web Trading, AvaTradeGo, MT4, MT5, AvaOptions, DupliTrade, AvaSocial Tradable Assets: 1000+ Payment Methods: Credit Card, Debit Card, Neteller, Skrill, WebMoney, Wire Transfer, Other Payment Methods Withdrawal Processing Time: 1 to 7 business days Spreads: As low as 0.9 pip License: CySEC, ASIC, FSA, FFAJ, CBI, FSCA, BVIFSC, ADGM, FRSA, ISA |
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| REASONS TO TRADE WITH | ➕Diverse range of assets
➕Regulated ➕Segregated client accounts from Europe, Australia and Japan ➕Award-winning brand ➕Competitive spreads |
| REASONS TO AVOID | ➖US traders not accepted
➖Demo account valid for 21 days only |
This award-winning online brokerage firm has landed on our list of top recommended brands for CFD trading due to its numerous features. First of all, it managed to get a significant number of licenses as compared to its competitors which usually have around 1 to 3. As of this writing, AvaTrade has 10 active licenses from international financial regulators including the CySEC, ASIC, FSA, and others.
Also worth mentioning about this brokerage firm is that it only requires a minimum initial deposit of $100 in order to start trading on their platforms. It's not the lowest but certainly much more affordable as compared to other brands that require double the amount as initial capital. They also accept the most common payment methods including credit and debit cards, Neteller, Skrill, WebMoney, wire transfer and others.
As for the platforms, the offer not just the standard MetaTrader 4 and 5, but also their own web-based platforms with the opportunity to trade options or copy the trades of other traders. This gives you more options on investing which makes it more interesting. They have over 700 tradable instruments so there are plenty of markets to explore including stocks, forex, indices, commodities, ETFs and even cryptocurrencies.
Their customer service is also top-notch and they can be contacted via phone, call back, email and live chat. Whatever mode of communication you choose, the support quality is same.
Read our AvaTrade full review
Start trading with just a $100 - You can instantly open an AvaTrade account in just a few minutes and initially fund it with just $100. You have the option to use this capital for live trading, or you can simply use the practice account that's loaded with $10,000 virtual money so you can explore the platform and device your own trading strategy.
Our Score: 9.7
Overall, the best online brokerage – copy trading and 0% commission on real stock trading
| SPECIFICATIONS | Minimum Deposit: $10 to $1000 (country-specific)
Platforms: Web, Mobile Apps Tradable Assets: 3000+ Payment Methods: Credit Card, Debit Card, Online Banking, Wire Transfer, PayPal, Other Online Payment Solutions Withdrawal Processing Time: 1 to 2 business days Spreads: As low as 1 pip License: CySEC, FCA, ASIC |
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| REASONS TO TRADE WITH | ➕Low minimum deposit ($10 for US & UK traders) ➕Quick registration ➕Advanced social trading network ➕Over 3,000 instruments available ➕Real-time quotes |
| REASONS TO AVOID | ➖No MetaTrader platforms |
eToro has an extensive social investment network that currently has over 28 million users worldwide. What makes them unique and different from their competitors is that they integrated the copy trading feature, which makes it more interesting to trade the instruments that they offer on their well-designed platforms. You have the choice of browsing the instruments and invest on them based on your own trading decisions or simply follow and copy the positions of more experienced traders on their network.
Another reason why this broker landed on top of our list is due to the fact that they are multi-regulated. They managed to get a license from the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA), and he Australian Securities and Investments Commission (ASIC). In addition to that, they are thee pioneer in integrating online trading with social media, the popular investment method which is now known as copy trading.
If you're new to online trading, there's a free demo account that you can utilize so you can test the platform without the need to use any real money. It comes with a $100,000 virtual fund that you can use to do some practice trades or even for making your own strategies. It's a feature that we strongly recommend that you should take advantage of before you go for live trading. It's simply similar to doing a test drive before you finally decide to buy a car.
And if you're the type of trader who wants to learn more, you can make use of their trading academy which has tons of informative and educational materials that you can use for free. They also regularly offer webinars that are conducted by experienced financial traders so be sure to check this out.
Read our eToro full review
The most cost-effective platform - Opening an account with eToro will only require a minimum initial deposit of $10 (US and UK traders) or $50/$200 (depends on your country). It won't require you any subscription fees and won't they won't charge you for trading on their platform. They only collect a very small commission via the spread between the bid and ask price. And while other brokerages may charge you with exorbitant fees for withdrawals, you will only incur $5 every time you withdraw your money from eToro regardless of the amount you wish to take out from your account.
Our Score: 9.4
Best for traders who want to learn - extensive online education including webinars/seminars, video tutorials and more.
| SPECIFICATIONS | Minimum Deposit: $5
Platforms: MT4 for PC, MT4 for Mac, MT4 Multiterminal, MT4 WebTrader, MT5 for PC, MT5 for Mac, MT5 WebTrader, MT4 for iPhone, MT4 for Android, MT5 for iPhone, MT5 for Android, MT4 for iPad, MT4 for Android, MT5 for iPad, MT5 for Android Tradable Assets: 1000+ Payment Methods: Multiple local payment methods Withdrawal Processing Time: Within 24 hours Spreads: As low as 0.6 pip License: FSC, ASIC, CySEC |
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| REASONS TO TRADE WITH | ➕Fully regulated by CySEC, IFSC and ASIC
➕Forex Islamic accounts available ➕Over 20 supported banking methods ➕Unlimited demo account ➕$5 minimum deposit |
| REASONS TO AVOID | ➖Deposits via PayPal not accepted
➖USA and Canada traders not accepted |
With over a decade of providing online trading services worldwide, XM is among the top brokerages that we recommend for trading CFDs. This group of regulated online brokers currently has more than 5 million customers and this number certainly proves that they are safe and trustworthy. In addition to that, they are also licensed by the CySEC, ASIC and FSC.
They offer both the MetaTrader 4 and MetaTrader 5 platforms which can be accessed on PCs, Macs, browsers, tablets and smartphones. And with over 1000 markets available, there are plenty of trading opportunities. You can invest on stocks, forex, crypto, commodities and indices.
When it comes to trading education, this is by far the best in providing their clients all the resources and information that they need. Aside from the free demo account, they also regularly hold webinars and face-to-face seminars in various locations across the globe. They also have education rooms that offer live interactive training sessions every day which are hosted by experienced forex tutors.
They are also very generous in offering bonuses of up to $5,000. This is by far one of the biggest trading promotions we've known so far but do take note that the bonus is only offered for clients who are not registered under the EU and ASIC regulated entities of XM Group.
Read our XM full review
Open a trading account and make a minimum deposit of $5 - You can sign-up for an XM online account with a starting capital of just $5. That's how affordable it is to invest via this brokerage firm. With this amount, you have the choice of signing-up for the Standard, Micro, Ultra Low or Swap-Free account types with leverages of up to 1:1000.
Our Score: 9.2
Ideal for traders who are looking for a low-cost broker with fast trade executions and ultra low spreads.
| SPECIFICATIONS | Minimum Deposit: $1
Platforms: MetaTrader 4, MetaTrader 4 Mac, MetaTrader 5, WebTrader, iPhone, Android, iPad/Tablet, cTader, cTrader WebTrader, cTrader cAlgo, cTrader Mobile Tradable Assets: 1200+ Payment Methods: Credit Card, Debit Card, POLi, Bank Transfer, BPay, PayPal, Neteller, Skrill, UnionPay Withdrawal Processing Time: 1 to 2 business days Spreads: As low as 0 pip License: FCA, ASIC, SCB, DFSA, CMA, BaFin |
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| REASONS TO TRADE WITH | ➕Ultra low spreads
➕1-day withdrawal processing ➕Variety of supported payment methods ➕Regulated ➕Over 1200 tradable instruments |
| REASONS TO AVOID | ➖USA traders not accepted
➖Demo account valid only for 30 days ➖Average minimum account size |
Regulated, check ✅. Spreads as low as 0 pips, check ✅. Fast trade executions, check ✅. Over 1200 markets, check ✅. These are just some of the many advantages of Pepperstone. Specifications-wise, it certainly beats most of its competitors and what's great about this broker is that they keep on improving their service. They used to only offer just around 500 instruments but now, they have already doubled it and the number of instruments will continue to increase.
Their execution speeds of less than 30-60 milliseconds are quite remarkable in comparison with other brokerages which only take around less than a second in executing trading positions. This is a great advantage especially when the markets are highly volatile. This lessens the chances of experiencing slippage since the price you entered will most likely be the same when you complete an order with this speed.
Their spreads are entirely flexible usually and start at 0 pips. This makes them among the world's major FX brokers particularly for the AUDUSD pair. As per our extensive evaluation, the spreads via the MT4 platform varies but the numbers can still reach 0 pips for the majors like the EURUSD even when there's liquidity in the market.
Read our Pepperstone full review
Open an account with as low as $1 capital - Here's the deal: you can open a Pepperstone account in just a few minutes but it gets even better: you can make an initial deposit of any amount and it can be as low as $1! You are free to explore the platforms via their demo account and if you wish to go for live trading, then you can do so with your initial capital.
Our Score: 9.1
The most generous brokerage firm in offering bonuses to their clients - $30 welcome bonus or 120% no deposit bonus.
| SPECIFICATIONS | Minimum Deposit: $1
Platforms: MetaTrader 4, MetaTrader 5 Tradable Assets: 170+ Payment Methods: Visa, MasterCard, FasaPay, Local Banks, Neteller, PerfectMoney, Qiwi, Skrill, UnionPay, SticPay, Alipay Withdrawal Processing Time: Within 1 to 2 hours Spreads: As low as 0 pips License: FSA (registered) |
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| REASONS TO TRADE WITH | ➕Wide range of payment methods supported
➕Tight spreads ➕Low minimum deposit ➕Up to 1:3000 leverage ➕Qualified support team |
| REASONS TO AVOID | ➖US traders are not accepted
➖Doesn't support PayPal |
JustMarkets (formerly JustForex) is the broker we recommend if you're the type of trader who likes bonuses. Based on all the brokerages we've tested and evaluated, they are among the most generous in offering promotions for their clients and we're not complaining! As of this writing, they have a $30 welcome bonus and a 120% no deposit bonus which you can avail when you sign-up today.
And when you open an account, the minimum initial deposit requirement is just $1 so you'll have more flexibility with the capital that you'd like to use for investing. And if you're the type of investor who want to learn or improve your trading strategies then you'd surely enjoy their educational events such as seminars and training gatherings.
What we also liked about this brokerage firm is that they have greatly improved the quality of their customer service. You can reach them via the most common channels including phone, email and live chat. Additionally, they can also be contacted via messaging apps like Skype, WhatsApp, Messenger and Viber. This is by far the broker with the most number of options for contacting them via online messaging.
Read our JustMarkets full review
Get your welcome bonus - Complete the basic registration process and access the JustMarkets Back Office and get your $30 bonus after opening your welcome account.
Our Score: 9.0
Award-winning broker with individual online training and useful forex trading signals.
| SPECIFICATIONS | Minimum Deposit: $1
Platforms: MetaTrader 4, MetaTrader 5, Multiterminal, WebTrader, InstaTick Trader Tradable Assets: Payment Methods: Bank card (Visa and MasterCard), Bank wire, Online banking, PayCo, Bitcoin, Litecoin, Tether, Local Transfers Withdrawal Processing Time: Within 24 hours Spreads: As low as 0 pips License: FSC |
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| REASONS TO TRADE WITH | ➕Over 300 tradable instruments
➕No deposit bonus for new clients ➕Unique regularly updated Forex Analytics ➕Leverage from 1:1 to 1:1000 ➕Award-winning brand |
| REASONS TO AVOID | ➖Doesn’t accept US traders
➖$10 fee for inactive accounts |
This online brokerage has been in operation since 2007 and they currently have around 7 million customers across the globe. Our comprehensive research also revealed that the InstaForex brand has been a recipient of multiple awards and recognitions. They currently have around more than 300 tradable instruments but even though this is a little smaller as compared to other top brokerages that we recommend, they have a number of notable advantages which gives them the right to be included in our list.
They have the ForexCopy system which is quite interesting to use as it lets you select a trader based on several criteria and set the platform to automatically copy their positions. There's also the Tick trades that features basic trading strategies and educational resources and we believe that this is ideal to use if you're a novice investor.
What also sets this broker apart from the rest is that they offer a number of bonuses (terms and conditions apply). In the CFD trading industry, it's a rarity to find a brand that still provides such promotions so be sure to take advantage of what they are offering.
Read our InstaForex full review
Get a bonus of up to $2000 - Take this opportunity to get a bonus after you signed-up for an InstaForex account and made your very first deposit. This is a 100% welcome bonus of up to $2000 that is available for Standard USD, US Cent or Standard EUR, EUR Cent accounts. Aside from this bonus, you'll also have the opportunity to take advantage of other InstaForex bonuses.
