Best 10 CFD Brokers (2021) To Help You Make Money

Can You Make Money With CFD Trading?

CFDs are known as Contract For Differences. They are mostly used to trade a whole lot of financial securities. They include cryptocurrencies, forex, stocks (mostly global and other kinds of commodities. To answer the question as to whether you can make money through CFD trading, the short answer is yes. The long answer however means you're going to have to know a lot of things and take a lot of precautions. Just like other investment platforms, if you're not careful, you can rake in more losses than profits. So to make sure that doesn't happen, you have to make sure you do your research, have a strategy in place, and try to make sure you can minimize your losses right from the start. Without further ado, let's jump right in.

Best 10 CFD Brokers (2021) To Help You Make Money

Forex.com

Forex.com has been ranked overall to be the best CFD broker out there. Apart from the fact that it offers 220  CFDs across major asset classes, navigation of the trading platform would show you all you need to know about the broker services. This would in turn give you the satisfaction that your funds are in the right hands. Apart from a robust and thorough trading platform that's also easy to use, this platform also offers speed and outstanding performance. The Advanced Trading Platform of Forex.com is accessible to everyone. So no matter what you trade, you can get access to it. You also don't have to worry about being in a particular situation before you can check the progress of your stocks and shares or make a trade. It offers mobile and web-based trading options so you don't miss out on updates. Although Forex.com recommends you start reading with 2,500 of whatever currency you plan to trade in to enhance flexibility and help manage your risks, the minimum you can start with is 50. 

IG

IG is a highly comprehensive broker that offers similar services as Forex.com. It provides complete access to the market and also allows the trading of up to 80 currencies. There is no minimum requirement to open a trading account. Like most brokers, IG has a mobile trading platform that's easy to navigate. It also has a web-based platform that can be accessed on a computer. This is good news, especially for traders new to the forex market. However, advanced traders are not left behind in this. Its provision of features such as charting tools and the selection of indicators would aid traders who have been in the market for a long while. Another thing that makes IG stand out is its provision of a native tablet interface. Don't worry, it's available on both IOS and Android. It's also quick to verify traders so they can start with their accounts immediately.

FXTM

Since its launch in 2021, FXTM has offered impeccable services and access to its web trading platforms (which include both Metatrader 4 and Metatrader 5). Apart from its wide and elaborate selection of trading tools, it also offers secondary services to aid traders. These services include tools like economic calendar, market analysis, videos for beginners and advanced traders, market outlook, and so on. Its customer services also include chat support on most social media platforms such as Live Chat, Viber, Facebook Messenger, and Telegram. It also offers an option for callbacks. It has three kinds of accounts with different requirements for opening them. The Micro account requires a minimum of $50, the ECN Advantage account requires a deposit of $500. The same also goes for the ECN Advantage Plus.

Plus500

Like most brokers mentioned above, City Index offers CFD trading on currencies, cryptocurrencies, bonds, metals, interest rates, and so on. Like Plus500, City Index also provides WebTrader services. It offers three kinds of trading accounts (trader, premium trader, and professional trader). A premium trader account not only comes with broker assistance in your trading, but it would also make you eligible for loyalty rewards, prioritized service, and so on. The minimum requirement for trading on City Index is 1 CFD. Its margin rate is from 3.3% on currency pairs, 20% on shares, and 5% on indices.

XTB

Let's go straight to the pros and cons. ActivTrades offers a free and seamless account opening system. This means opening your trading account with them wouldn't come with any sort of unnecessary stress. It also offers, like other brokers, low trading fees, generally. However, there are a few downsides to this brokerage firm. The research tools for one are limited and not that advanced. They may be good for new traders but advanced traders may find them difficult. There is also the presence of an inactivity fee. If you're not trading for a while, you get to pay a certain fee. The last downside is that the product portfolio is not elaborate or robust enough. Its web trading platform, ActivTrader, has a highly customizable interface and comes in several languages. It, however, doesn't offer price alerts.

Pepperstone

Being the last on our list, pepperstone is not highly recommended, especially for newbie traders. This is because, first, it charges a minimum deposit of $200 before you can open a trading account. There is also a limited selection of products that can be traded, unlike other platforms. Despite these downsides, it is still preferred due to its impeccable risk management, provision of trading suites (both MetaTrader and cTrader), and its better-than-average selection of research tools.