Choosing the best CFD broker and trading platform is not an easy task. While hundreds of brokers compete for your attention, advertising “the fastest execution” and “the lowest prices”, not all of them are the same. Fortunately, we are here for you, and we’ve done the hard work to make your choice easier and clearer.
Our team of expert traders, analysts, and researchers has reviewed over 330 brokers and collected extensive data to recommend brokers that fit your specific needs. Whether you are an active day trader, a professional scalper, or a beginner who has just started the trading journey, we have found an option for you.
We have opened an account with each of the broker we reviewed to test their platforms, live spreads, and live trading conditions. Our methodology includes over 250 data points that cover a broker’s safety, regulatory status, trading fees, platforms and tools, tradable instruments, customer support quality, and much more.
Below, I have highlighted the CFD brokers that performed best in our reviews across specific categories, along with some practical insights to help you choose the broker that fits your trading style and needs.
We carefully considered the needs of CFD traders and focused on the qualities that matter most to them.
Our team of experts has identified brokers’ strengths and weaknesses using FXEmpire’s comprehensive methodology.
Now, let’s go through the selected brokers.
Vantage is an award-winning CFD broker headquartered in Sydney, Australia. Since launching in 2009, Vantage has grown to acquire over 5 million active clients worldwide, according to its website. Clients have access to 1,000+ CFDs from 3 account types, fast ECN execution, low spreads, and excellent market research, making Vantage our best overall CFD broker.
Broker Features
After exploring Vantage’s website, client portal, and trading platforms, I judged it to be a well-rounded broker thanks to its high performance in all our review categories. The whole range of trading platforms is excellent, including how easily Vantage links to TradingView, which is my favorite platform. With over 50 million traders sharing ideas and research, it’s a great way to see what the rest of the crowd is trading, from one of the easiest platforms in the industry to navigate. For automated traders, Vantage also offers the popular MT4 and MT5 platforms, which work well with their free VPS hosting to run strategies 24 hours a day.
I did find the fees on the Standard STP account slightly higher than the industry average. EUR/USD came in at 1.2 pips, while our database shows the average for commission-free CFD brokers is 1.08 pips. However, there are 2 other ECN account types which offer spreads from 0.0 pips and a low commission of $6 per round turn, which are the accounts that I would go for.
Vantage earned a perfect 5 out of 5 score in the education category of our review – and for good reason. I found over 350 high-quality educational articles in the Vantage Academy covering technical analysis, forex trading, psychology, and more. The standout feature is Vantage’s weekly live trading webinars by industry experts, which can help beginner traders to learn more and experienced traders to stay abreast of market news. Overall, Vantage is a top broker to consider.
Founded in 2010 and headquartered in Australia, Pepperstone is a financial derivatives broker offering access to over 1,380 tradable instruments across forex, commodities, share CFDs, indices, and cryptocurrencies. It distinguishes itself with an excellent lineup of platforms, ultra-fast execution speeds of less than 30 milliseconds, and one of the best raw spread trading accounts we’ve seen.
Broker Features:
I opened Pepperstone’s Raw Spread Razor account, which has a commission of $6 per round-turn, per traded lot (100,000 units). The commission rate is in line with the industry average, while the broker’s spreads on popular instruments are much lower than the industry benchmark. For example, our database shows that for raw-spread accounts, the average spread on EUR/USD is 0.06 pips. Pepperstone showed 0.0 pips, signifying a huge cost saving.
The Razor account has no minimum deposit requirement, making it an affordable and easy way to get started for all traders. The 100% margin call and 50% stop-out level is across all of Pepperstone’s available platforms and is in line with the industry standard, providing a safer trading environment. The standout feature is that Pepperstone reports a 99.32% fill rate, which drastically reduces the risk of negative slippage and suits the needs of high-volume traders very well.
Pepperstone’s range of platforms is a great fit for high-precision traders looking for tight order execution, in particular with the cTrader platform. This platform has been designed for short-term, active, high-frequency traders and offers fast execution, over 100 analytical tools, and a user-friendly interface. Alongside rebates for high-volume traders (depending on region), Pepperstone is a top raw-spread broker to trade with.
Founded in 2007, IC Markets is a veteran of the forex and CFD industry. With over 200,000 active clients worldwide, the ability to trade over 2,220 CFD instruments from MT4, MT5, cTrader, and TradingView, IC Markets is the go-to broker for rock-bottom fees. Even its standard commission-free account massively beat the industry-average spread across our database of brokers’ live accounts.
Broker Features
I found that IC Markets offers access to 3 trading accounts called Standard, Raw, and cTrader Raw. The most competitive trading fees are on the cTrader Raw account, as this offers spreads from 0.0 pips with a round turn commission per lot of $6, which is in line with the industry standard. A better comparison between brokers is on their commission-free accounts, as this is where they include the commission into the spread. In fact, this is how we measure brokers in our reviews, so we can do an equal side-by-side comparison. What did we find?
The spread on EUR/USD averaged 0.8 pips in the London and New York sessions. This is much better than the industry average of 1.08 pips from our database of live spreads from our broker reviews. The spreads on minor forex pairs, commodities, indices, cryptocurrencies, and share CFDs all beat the industry average by some distance. However, the overnight swap fees were slightly higher but not by much. With no fees for deposits, withdrawals or inactivity, IC Markets is the top choice for cost-conscious traders.
Established in 2009, Belize-based broker RoboForex offers over 12,000+ tradable instruments from the MT4, MT5, and R Web Trader platforms. It’s a top broker for automated trading as its free VPS service allows you to run Expert Advisors 24/5 with fast ECN trade execution, zero overnight fees on forex and metals, and safety from its EUR 2.5 million private insurance.
Broker Features
We determined RoboForex as an excellent choice for algorithmic traders, thanks to its comprehensive offerings. You can choose between MetaTrader 4 and MetaTrader 5 platforms, both of which feature Expert Advisors (EAs) and include built-in strategy testers, allowing algorithmic traders to backtest their strategies against historical price data. You can also access the MetaTrader Market and purchase EAs from other programmers.
RoboForex also offers Virtual Private Server (VPS) hosting for low-latency trading, which is available free of charge for funded accounts with a minimum balance of $500 and at least 3 lots of traded volume per month. Our test showed an execution speed averaging 45 milliseconds, which is much better than the 60 milliseconds industry average. While the combination of fast execution and EAs that can run on a VPS 24/7 is essential for automated traders, so are fees.
There are 5 different account types to choose from. The best for automated trading is the RoboForex ECN account. This offers spreads from 0.0 pips and a low round turn commission per lot of just $4 – the industry average is $6. With a low minimum deposit of $10, RoboForex is a great option for automated traders.
London-based ActivTrades was founded in 2001 and now serves traders in over 170 countries worldwide. The multi-regulated broker offers over 1,000+ tradable instruments from the best CFD trading platforms in the industry, like MT4, MT5, and TradingView. The broker’s flagship ActivTrader platform is a standout feature with high-quality market research directly in the platform and a whole host of other tools that cater to different styles of trading.
Broker Features
The range of trading platforms available at ActivTrades is impressive, but the best depends on your style of trading. For example, the MT4 and MT5 desktop platforms are great for automated traders and those who need a high level of customization. Unfortunately, the MetaTrader web platforms are archaic and too basic for most traders and do not compare to the power of the TradingView web platform. Over 50 million people use TradingView, which is the biggest social platform in the world and caters to all styles of trading, from short-term, technical, and fundamental.
Having said this, I found the ActivTrader web platform and mobile app to be a great option for CFD traders. The charts are powered by TradingView, so you get all of the 9 different timeframes, 106 technical indicators, 16 chart types, 75 drawing tools, and order types available. The bonus is the built-in economic calendar, market research, and news, created by ActivTrades’ in-house analysts. I found the articles helpful for breaking down the fundamentals driving the market.
Founded in 1999, Spreadex is a UK-based and FCA-regulated broker offering CFD trading and spread betting (UK traders). It’s a top broker for day trading thanks to low spreads on forex and European indices and the advanced trading tools in the Spreadex web platform, like the built-in candlestick pattern scanner and automated support and resistance line indicator.
Broker Features
The Spreadex and TradingView web platforms both offer one-click trading and trading from the chart, allowing day traders to be nimble and get in and out of the market quickly. TradingView offers a social community where day traders can share ideas and charts with other traders, which can be useful feedback. While I use TradingView every day, I was seriously impressed with the Spreadex platform and the tools it offers for day traders.
For example, the Top Risers/Fallers watchlists in the Spreadex platform help to quickly identify high-volatility instruments that may present opportunities. When using this, I like to see the same category of instruments as the top risers or fallers (lots of JPY pairs or all the US indices, etc.), as it helps identify correlated markets where a big theme is developing for day traders to capitalize on. I especially like the Candlestick Pattern recognition tool within the Spreadex platform, which highlights candlestick patterns on the chart in real time, helping day traders to make quicker decisions.
FP Markets was founded in 2005 in Sydney, Australia, and has entities regulated worldwide. It’s a top broker for professional traders due to the sheer number of tools available to support every type of trader. This includes over 10,000+ instruments that can be traded from MT4, MT5, cTrader, TradingView, and Iress. MAM and PAMM accounts are available to manage investor funds, as well as Myfxbook for copy trading.
Broker Features
FP Markets offers competitive trading costs: in my live tests, I experienced spreads of 14 pips in gold and 4 pips in crude oil. Speed is the name of the game at this broker – made possible with low latency trade execution delivered from the Equinix NY4 facility server cluster. I also confirmed that scalpers and algorithmic traders can be more confident of having a stable trading environment thanks to free VPS hosting.
The FP Markets’ selection of platforms, including MetaTrader 4, MetaTrader 5, and cTrader, is robust and can cater to the most sophisticated traders. I noted another important feature for professional traders: MAM/PAMM accounts that allow money managers to trade multiple accounts simultaneously from a master account.
Founded in 2010, IronFX is a global forex and CFD broker with an impressive range of tradable instruments, tools, and account types. My examination showed that the Cyprus-based broker has entities regulated by top-tier CySEC and FCA and an unregulated Bermuda entity.
Broker Features
MT4 is the longest-standing trading platform in the world and is what helped launch forex trading to retail traders. Its basic features include the ability to trade directly from the chart, set alerts and watchlists, access multiple order types, and one-click trading. There are 30 technical indicators, 24 drawing tools, 9 timeframes, and 3 different chart types available.
The MT4 desktop platform offers automated trading capabilities but requires a steeper learning curve. The web and mobile apps are much easier to use and great for beginner and casual traders. Through the IronFX MT4 account, you can access the broker’s TradeCopier service. From the client portal, you can view the performance of other traders and have their trades copied onto your own MT4 account. With no minimum deposit, IronFX offers a seamless way to benefit from the features of using the MT4 platform.
Founded in 2014 and headquartered in Cyprus, Tickmill is a top multi-asset class broker that caters well to the needs of beginner traders. A low minimum deposit of $100 will allow you to access over 630 CFD instruments from the MT4, MT5, TradingView, and Tickmill Trader platforms, trading signals from Acuity, and an outstanding educational library full of articles, videos, webinars, and ebooks.
Broker Features
Tickmill scored 5/5 in our review of the broker’s education offering. I found a wide variety of educational articles, videos, webinars, and ebooks covering basic to advanced concepts. For beginners, I would recommend reading the “In-Depth Look at Risk Management” and “Trading the Majors: Insights & Strategies” ebooks to start with. It’s also good to try to attend the broker’s live trading webinars to further expand your knowledge.
There are 3 account types available, but the best for beginners is the Classic Account, as it is commission-free. While the spreads are higher than the other 2 accounts, the Classic Account will make risk management calculations far easier as the costs are included in the spread. The account also has an option of starting on a demo account first before transitioning to a live account.
Founded in 2016, Capital.com is regulated globally and now dominates the industry by providing access to over 5,000 CFD instruments, including 543 cryptocurrencies and 2,799 knock-out options from the MT4, MT5, and TradingView platforms, as well as its proprietary Capital.com Web Trader and Mobile App. Where the broker really stands out is its ultra-fast execution of under 25 milliseconds and FIX API solutions for Direct Market Access (DMA) trading.
Broker Features
I discovered that Capital.com achieves ultra-fast order execution speeds averaging around 25 milliseconds, beating the industry average of 60 milliseconds. It also provides FIX API solutions for even faster performance, which traders can use to obtain raw spreads directly from an exchange’s order books. This type of execution is excellent for short-term scalpers and day traders, as well as high-frequency automated traders. Fortunately, Capital.com makes all of these styles of trading possible.
Automated traders can use the MT4 and MT5 platforms to run Expert Advisors, while scalpers and day traders can trade from TradingView and the broker’s proprietary Web Trader platform, which I was particularly impressed with. Its flagship platform features over 100 analytical tools, advanced charting capabilities, one-click trading, depth of market, a built-in news screener, and sentiment indicator. With only a $20 minimum deposit, Capital.com is a top broker to trade with fast order execution.
Founded in 2009 and headquartered in Cyprus, XM has a strong global presence and offers an excellent range of features and tools for avid crypto CFD traders. Of the 1,400 CFDs available, there are 60 crypto CFDs covering major and alt pairs that can be traded 24/7 from state-of-the-art trading platforms like MT4, MT5, XM Web, and XM App.
The 60 crypto CFDs available at XM cover major coins like Bitcoin and Ethereum, as well as alt coins like Sushi. This enables traders to move in and out of majors and alts very easily. I also found a broad range of other asset classes available to trade on, covering forex, commodities, indices, and shares, providing a true multi-asset class offering. As you can trade crypto CFDs 24/7 with XM, it can be a great way to capitalize on any market-moving events over the weekend.
There is also strong market research and education on crypto trading from the broker’s in-house research team, as well as from Trading Central. The broker’s crypto pairs are available to trade on MT4, MT5, XM Web, and XM App. I would highly recommend the XM Web platform as its user-friendly interface and sleek design make it easy to trade from. It offers over 90 technical indicators, 50 drawing tools, 10 time frames, 15 chart types, and a built-in copy trading service.
Founded in 2005 and headquartered in Dubai, Multibank is licensed by 15 financial authorities and offers a wide range of CFDs, with over 14,200 instruments covering forex, commodities, indices, cryptocurrencies, and shares. With access to high CFD leverage (depending on your region), ECN accounts, and multiple trading platforms, it’s a top CFD broker to consider.
Multibank’s CFD offering is top-notch and well-suited to multi-asset-class traders. There are over 40 forex pairs, 11 commodities, 23 indices (cash and futures), 13 cryptocurrencies and 14,100 share CFDs covering the US, EU, and Asia. While there are no ETFs or bonds, the range is broad and diverse and exceeds the industry average. All of these CFD instruments can be traded via MT4, MT5, Multibank Web, and the Multibank App.
I was particularly impressed with the Multibank web platform. It has an easy-to-navigate design with a high level of customization. I found over 107 technical indicators, 50 drawing tools, 7 time frames, and 12 chart types. Charts are powered by TradingView, ensuring price action is fluid, scalable, and in high definition. The Top Gainers and Top Losers list is a great way to see what is moving in the market, and the built-in copy trading service is a great add-on for CFD traders to diversify their trading.
When searching for a CFD broker, consider the following key points.
Most traders will compare brokers by only looking at the spread advertised, which could be vastly different from the broker’s actual, live spreads. More importantly, it is not the only cost of trading and doesn’t provide the full picture. Here is a breakdown of all the trading fees to consider:
The overnight swap rate deserves special attention. Since CFDs are leveraged instruments, holding positions overnight for a long period of time can become expensive and eat into your profit. In some cases, the swap fee can end up costing more than the spread you paid to enter the trade.
As you can see, it’s important to understand and compare the fee structures of different brokers before deciding which one to use. This is why we compare brokers using real trading data by opening live trading accounts and viewing the live spread, commission and overnight swap rates.
The consistency across our reviews means you can make a like-for-like comparison on the brokers’ commission-free accounts, rather than relying solely on advertised minimum spreads.
Discover Best lowest spread forex brokers and Best zero spread forex brokers.
You finally find a broker with low trading costs, but when you execute a trade, you get requoted at a different price, and it doesn’t fill. Most traders never think about a broker’s execution quality. Simply put, if a broker can’t execute your trades well, it doesn’t matter how good their trading costs are.
During volatile market conditions, the price you see on the chat and the price at which your trade is filled can be different – this is known as slippage. While you may sometimes receive positive slippage, most of the time it will be negative. As prices can change very quickly, you may not get the price you request as your broker’s execution speed is low, resulting in high slippage.
Some brokers may even requote or reject your entire order if they have poor liquidity providers and cannot match your orders with another trader. A good broker should be able to provide fair and stable price execution, especially around news releases and fast-moving price action. Much of this will depend on the broker’s execution model.
An instant execution model is often associated with market maker models, where they match your orders to their own clients and liquidity pool first. This may result in more requotes and price slippage.
A market execution model is commonly associated with STP (Straight Through Processing) or ECN (Electronic Communication Network) brokers. This type of execution usually fills orders at the best available market price, and the ECN-style typically allows you to access more liquidity from investment banks and hedge funds.
Read more about Best ECN brokers and Best STP brokers.
This is why our Best Low Spread Broker IC Markets discussed above has the most competitive spreads and offers a zero requote policy – it is an ECN broker with institution-grade liquidity from 25 different top-tier liquidity providers.
For active, short-term traders, I would recommend checking whether the platform offers slippage control. For example, in the cTrader platform, you can place normal orders with entry, stop loss, and target, but also select a maximum allowable slippage for market orders. If the market moves beyond this range, the order will not be filled, protecting the trader from receiving an unfavorable price.
From the list of Best CFD brokers above, the ones that offer cTrader include: IC Markets, Pepperstone, and FP Markets.
Just because a broker is regulated doesn’t mean it is safe to trade with, as there are different tiers of regulation, like Tier 1, Tier 2 and Tier 3. Tier 1 regulators are based in well-known financial jurisdictions and include the UK FCA, CySEC, ASIC and others. Tier 2 regulators are based in lesser-known financial hubs but in strong legal jurisdictions and include the FMA New Zealand and the Dubai DFSA. Tier 3 regulators are generally based offshore and include the Bahamas SCB and Vanuatu VFSC.
Trading with a broker regulated by a Tier 1 regulator is far safer than trading with a broker regulated only by a Tier 3 regulator. Most Tier 1 regulators impose certain requirements on brokers that Tier 2 and Tier 3 regulators don’t. For example, the UK FCA, CySEC and ASIC require brokers to segregate client funds from company funds. This ensures the broker is not using your money to fund their daily operations. They also require brokers to provide a negative balance protection policy so your account does not go below zero due to an adverse move in the market.
It’s important to check with the entity you are opening an account with. For example, the Best MT4 broker listed above, IronFX, has entities regulated by Tier 1 regulators CySEC and the UK FCA. But they also have entities regulated by offshore Tier 3 regulators and have 2 unregulated entities.
I would highly recommend NOT trading with an unregulated broker, as there is no legal recourse to reclaim your money if an adverse move in the market, or poor execution wipes out your trading account or if the broker simply decides to shut their operations.
In our reviews, we detail all the entities a broker has, who regulates them, and what protections you do or do not have with them, so be sure to read them.
Explore our list of Best regulated forex brokers.
An intuitive, easy-to-navigate platform will allow you to launch into the trading world with minimal hitches. The most user-friendly platforms are typically browser-based platforms created by the broker.
Look for easy-to-implement features such as watchlists, trading from the chart, search, news, and a customizable interface. MetaTrader and cTrader platforms have advanced features like backtesting, automated trading, and a wide range of order types, though are less user-friendly.
There are a variety of trading platforms available to CFD traders. Here are a few that you may want to consider for great trading results.
Also, check out our dedicated guide on Best forex trading platforms.
The risk management tools a broker offers should be a major part of your selection process, as CFD trading magnifies both profits and losses. While a stop loss is essential to use on every trade, it may not get you out at the exact price you request, as it doesn’t protect against market gaps.
Some brokers (mainly UK-based entities) offer guaranteed stop-loss orders. This will close your trade at the exact stop price level you set – even if the market gaps through it. These orders usually come with an extra fee or wider spread, but are useful when trading over corporate earnings releases and other economic news announcements.
It’s also worthwhile checking how a broker handles margin calls and stop-out levels. A margin call is a warning that your account equity has fallen close to the required margin level to keep your positions open. A stop-out level is when the broker automatically closes your positions because your account equity has fallen too far.
Each broker has different thresholds and they can be tricky to find. Most of the time, they’re hidden deep in the broker’s legal terms and conditions for trading with them. Fortunately, our analysts find this information and share it with you in each broker review under the Account Types category.
To conclude, the best CFD broker is not necessarily the one with the lowest spread. It’s important to compare the full cost of trading, execution quality, platform availability and risk management tools each broker has to offer, to find the right balance for your needs.
As someone who has been trading for nearly two decades, I place the most amount of emphasis on a broker’s regulation and investor protection. Protecting my trading funds is the number one priority. Be sure to check the broker’s entity you open an account with, where it is based, who regulates it, and if it segregates client funds from its own.
Overall, there are some fantastic brokers in the industry that offer a high level of safety, low trading costs, high-quality platforms, fast execution, and other useful tools to support retail traders. Be sure to read FXEmpire’s broker reviews for detailed analysis of each broker so you can choose the best option for you.
The team of forex and CFD analysts and editors at FXEmpire is comprised of trading industry professionals and seasoned financial journalists. Our experts are published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later, Dan gained insight into the forex industry during his time as a Series 3 licensed futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later, Dan gained insight into the forex industry during his time as a Series 3 licensed futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.