Nowadays, CFDs are the best instrument for short-term trading and hedging. Therefore, demand for CFD trading continues to increase among both professional and retail traders. However, there are hundreds of options for CFD trading platforms, so it is difficult to choose the right one. Therefore, to aid you in your trading, Finxpd conducted an extensive review on them as follows.
List of Contents
eToro
Account Minimum: $10
Fees: 1%
Why We Selected It
eToro is a newbie to the United States market. It provides a crypto exchange with 65 cryptocurrencies for trading, as well as an online brokerage platform with a limited range of equities and exchange-traded funds (ETFs). The CFD trading platforms has a clear pricing structure and an active user community. However, if you are searching for low-cost crypto exchange, be aware that eToro has quite high trading costs.
EXANTE
Account Minimum: $10,200
Fees: U.S. stocks $0.02 per share, London $0.05 per share, Toronto $0.02 CAD, metals $3, futures $1.5, cryptocurrencies 0.5%
Why We Selected It
Exante is a next-generation investing platform that offers over 400,000 products from over 50 worldwide marketplaces. The platform provides a strong proprietary platform designed exclusively for professional trading. Although the minimum deposit is surprisingly large, you may also participate in professional trading with a wide variety of supported APIs. Additionally, Exante provides access to a diverse variety of marketplaces, including most of any European broker. It is likewise well-liked by both European and Asian dealers.
Awonar
Account Minimum: Not required
Fees: Not charge
Why We Selected It
Awonar is the top social trading platform established on 2019. Its headquarter is located in Cyprus. The interesting point of Awonar is that it offers both investing in stocks and cryptocurrencies and trading CFDs with various underlying assets. Furthermore, Awonar has its trading platform, enabling traders to use social trading. Thus, traders can copy trading from other renowned traders. Additionally, traders are not only enabled to trade via computer, but also enable to trade via mobile phone since it has iOS and Android applications. Importantly, the overnight fees for holding orders across the day are very cheap when compare to others. If talking about the bonus, it is available for beginners at $50. Besides, trading fees and account minimum are not required. Finally, all of these outstanding points encourage us to consider it as one of the best CFD brokers in 2022.
Pros
- Trading fees are not required
- Offering $50 bonus for beginners
- Social trade fees are not required
- Offering various underlying assets
Cons
- Live chat supports only the English language
- Since the products are an underlying assets, the holding is not available.
- The amount of assets may not be as much as the stock exchange
BDSwiss
Account Minimum: $100
Fees: Depending on the trading account
Why We Selected It
BDSwiss was founded in 2012 and immediately launched on what is seen as an extraordinary development trajectory. While this broker presents itself as part of a global operating organization with Swiss holdings, the Cyprus Securities and Exchange Commission seems to be the major regulator (CySEC). Moreover, BDSwiss is also licensed by the Financial Services Commission of Mauritius, enabling the broker to provide more flexible leverage alternatives to non-EU clients. Importantly, the trading of Forex and commodities remains commission-free. The prices of commodities, indices, and stock CFDs are acceptable.
XTB
Account Minimum: Not required
Fees: Not charge
Why We Selected It
XTB is proven to be a compelling option to other CFD and Forex brokers due to its unique features. It is a hybrid of a market maker and an STP broker. Moreover, the selection includes more than 5,000 instruments. Up to 100,000 euros per month may be traded commission-free in real shares and ETFs, as well as CFDs on cryptocurrencies. The deposit insurance, which covers 90% of accounts up to 22,000 euros, is the most criticized aspect of the system. That is the absolute least that is imaginable.
Conclusion
In short, the CFD trading platforms we mentioned above are just 5 of the many best CFD trading platforms. Importantly, each platform has its pros and cons depending on traders’ trading styles. Nevertheless, as we always tell you that investment has risk, so you should make your trading plans before investing.
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Read more: Popular Brokers
Source: Forbes, Nerdwallet