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.

CFD Brokers Explained
A CFD broker, just like a forex broker, is a kind of middleman between an investor and the market. The broker in this place is tasked with the duty of providing a trading platform to facilitate trading and enhance the relations of the trader to the market. It's important to note that there are differences between these brokers. They vary when it comes to expectancy, market services, and trading conditions. Hence, it is up to the trader to determine which broker would suit his needs and demands from the market. There is no quick note way to determine whether a broker is trustworthy or not. The best way is to open an account with the said broker and trade with them for a moment. When you experience the customer service and trading platforms of several CFD Brokers, you're likely to determine on your own which is the best to work with.


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

Although we mentioned working with several CFD Brokers to determine which one you're likely to stick with due to your needs and demands, it doesn't mean we won't tailor the ones to try for you. This is why we've compiled the top ten CFD Brokers as of 2021 that can help you make money in the market. 

Broker Name

Stock Fees

Best For

Forex.com

$6.1 base fee for USD

$7.5 base fee for GBP

Mobile Trading, Offering Of investments, and so on.

IG

Minimum of $10 per trade ($0.02 per share on US stocks)

Most regulated CFD broker. Also the largest out there.

FXTM

Minimum Volume in Lots per Trade: 0.01

Maximum Volume in Lots per Trade: 2,000

Advanced trading platform and wide research tools

Plus500

Zero commission trading. Profits through the spread.

Allows trades for unique CFD options.

City Index

Minimum rate of $10

Offers low-cost fees on cryptocurrency trades 

XTB

The Commission is already built into the spread.

Overall CFD trading

CMC Markets

Current fees are $29.95

Known to be one of the best CFD and stockbroking brokers

eToro

Free stock and ETF trading.

Known as one of the best social trading brokers, also good for copy trading.

ActivTrades

Zero fees for account opening, deposits, and withdrawals.

Easily accessible mobile trading platforms across all devices.

Pepperstone

$3.75 plus spread.

Top forex broker for MetaTrader 4



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. 

When it comes to trading hours, Forex.com is available to its traders 24/5. So you can trade anytime from Monday through Friday.


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


Apart from a selection of over 2,000 instruments, Plus500 offers CFD trading for stocks, cryptocurrencies, options among other things. This brokerage firm does not charge any kind of trading fee or commission. However, its money is made through spreads (the difference between the ask price and bid). It has a web trading platform (WebTrader). It also offers mobile trading platforms that can be accessible on iOS, Android, and Windows phones. iPads are also not excluded


City Index

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

Apart from financial transparency, one of the reasons most traders deem XTB to be safe is the fact that it's listed on a stock exchange. This broker offers a fast account opening that doesn't necessarily require a minimum deposit. Its deposit and withdrawals are also free. It charges no fees and commissions for ETFs and some stocks and charges low fees generally. There are times, however, that it would charge high fees for some stocks. This has been seen as a major disadvantage for the brokerage firm. Bank transfer withdrawals on the other hand are mostly free. Its account opening method is fast and stress-free. Your account would be ready to trade the same day it opened.


CMC Markets


Apart from a web-based trading platform, CMC offers trading apps for mobile and desktop to enable easier access and facilitate trading from anywhere. It offers a wide range of trading tools that new and advanced traders would find incredibly helpful. It's important to note from here that CMC does not offer the opportunity to trade other asset classes such as mutual funds, options, or real stocks. There is no minimum deposit required to open an account on CMC. It's completely digital and completely free. When it comes to deposits and withdrawals, there are a few things to note. Deposits are free, withdrawals are also free except for same-day or international bank withdrawals. There is also a provision for credit and debit cards. All in all, it has terrific educational tools, low forex fees, and a smooth customer experience.


eToro

eToro is mostly recommended for traders who are only invested in social trading. What we mean by social trading is when traders trade based on how veteran traders also trade. It also offers zero commissions on stock trading. Like other brokers, its account opening system is free and hassle-free. Free stock and ETF trading are also part of the items offered by this platform to facilitate trader experience. A downside to this platform is its $5 withdrawal fee. Another downside is the fact that it only offers one base currency.


ActivTrades


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.


What Makes A Good CFD Broker?

There are certain conditions to be fulfilled before a good CFD broker can be determined. These factors include fee structure. How it charges commissions, deposit fees,s and withdrawal fees. Another criterion is account opening. A good CFD broker can be determined by how stress-free their account opening system is. The last condition to consider is the provision of research tools and web trading platforms. Not only do these tools have to be advanced and well suited for both newbies and advanced traders but, they also have to be easily navigated and easy to access. 

There you have it. All you need to know about CFD Brokers. We hope this article gives you some clarity and better understanding. Trade safe.