ACTUAL FOREX TRADING
BECOME A PROFITABLE FOREX TRADER
THE HIGHEST RANKED CFD BROKERS
The Top CFD Brokers for Forex, Indices, Stocks, & More
"Most retail Forex brokers offer the ability to trade Forex and indices through CFD trading only. Trading on the actual foreign exchange market is often exclusive to professional traders, funds, and institutions only.
There is nothing wrong with CFD trading. It is often the best choice for the small fry traders - like me and you!"
My recommended Forex CFD brokers are ranked by...
- The tightness of spreads
- The variety of markets offered
- How highly regulated they are
- Overnight fees and other costs
- My personal trading experience with them
- The ease of depositing and withdrawing funds
Read on to learn more.
The Best CFD Brokers
BROKER #1 - IC Markets
IC Markets is at the top of the list. I cannot recommend them highly enough!
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You can apply for an account if you reside in the UK, Europe, Canada, Australia, Singapore, and other locations.
Broker Summary
Range of Markets 9/10
Trading Platforms 8/10
Spread Tightness 9/10
Brokerage Fees 9/10
Regulation 7/10
Reliability 9/10
OVERALL SCORE
51/60
Highlight # 1 - Markets Offered
This broker offers various markets, including Forex, Futures, Cryptocurrencies, Stocks, Bonds, Commodities, and Indices.
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Forex CFDs - over 60 currency pairs offered, including very exotic currency pairs, such as EURPLN, NOKSEK, SEKJPY, USDCZK, USDDKK, USDKKD, USDHUF, USDSEK, and USDTRY. They also offer the most traded pairs, such as EURUSD and USDJPY.
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Stock CFDs - thousands of stocks from multiple exchanges; ASX, NASDAQ, NYSE, Euronext, LSE, Xetra, and Bolsa.
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Index CFDs - all major stock index CFDs offered, including less common ones.
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Commodity CFDs - various precious metals, softs, and energies are available. They also offer CFD futures.
Highlight #2 - Spreads
The tightest spreads I have ever experienced in the Forex CFD industry - they can't be beaten!
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EURUSD is available with a 0.0 spread. These tight spreads are also available on all the major Forex pairs - zero spreads on GBPUSD, USDCAD, USDCHF, and USDJPY.
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You must open a Raw Spread account to get these ultra-low spreads.
Highlight # 3 - Ease of depositing and withdrawing
I have deposited and withdrawn funds many times (likely over 50). I have never had any issues.
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You can deposit by card, PayPal, bank transfer, wire transfer, Klarna, Neteller, Skrill, UnionPay, and RapidPay.
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Withdrawals are processed by the same method that you deposited. Unless your withdrawal method limit is reached, cash withdrawals must then be withdrawn using PayPal or wire transfer.
Personal Experience & Summary
I cannot recommend IC Markets more highly. They are reliable, have excellent execution, and have a range of trading platforms and markets.
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Their spreads are very impressive. They offer high leverage (if needed).
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You can open a free demo account with IC Markets here.
BROKER #2 - IG
IG is a UK-based CFD broker that is FCA regulated.
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You can apply for an account if you reside in the UK, Europe, Canada, Australia, Singapore, and other locations.
Broker Summary
Range of Markets 10/10
Trading Platforms 7/10
Spread Tightness 7/10
Brokerage Fees 6/10
Regulation 10/10
Reliability 10/10
OVERALL SCORE
50/60
Highlight # 1 - FCA Regulation
This is one of IG's unique selling points - FCA regulation.
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IG is highly regulated and based in London, England. They are safe, trustworthy, and provide a reliable trading service.
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Under FCA regulation, your trading funds are protected by the FCA compensation scheme, which covers capital of up to £85,000, if the trading firm fails.
Highlight #2 - Range of Markets
Another one of IG's unique selling points.
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The amount of tradeable instruments and financial markets that IG offer is well beyond any of its competitors. At over 18,000 financial products, you are never going to feel limited.
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Forex CFDs? Sure. Around 100 currency pairs. TRYJPY? Not a problem. USDBRL? It is available. CHFNOK? They've got it. NZDCNH? This is just getting silly!
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Stock CFDs? 1,000's.
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Index CFDs? Will over 70 indices suffice?
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How about Forex options, stock options, commodity options, and index options? They have them. ETFs, bonds, rates, cryptocurrencies? Yep. You can trade them all as a CFD.
Highlight # 3 - Spread Betting Option
Another highlight is IG offers spread betting for UK clients, which makes trading profits tax-free. The same wide range of markets are available, whether you spread bet or trade CFDs.
Personal Experience & Summary
A fantastic broker, which is highly regulated.
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Spreads can get very wide, especially during times of low liquidity. Their overnight financing fees are expensive. IG is ideal for day trading or short-term swing trading.
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You can open a free demo account with IG here.
BROKER #3 - DARWINEX
Darwinex is another CFD broker that is UK-based and FCA regulated.
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You can apply for an account if you reside in the UK, Europe, Canada, Australia, Singapore, and other locations.
Broker Summary
Range of Markets 7/10
Trading Platforms 6/10
Spread Tightness 8/10
Brokerage Fees 8/10
Regulation 10/10
Reliability 9/10
OVERALL SCORE
48/60
Highlight # 1 - FCA Regulation
Another FCA-regulated CFD broker!
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Darwinex offers the most transparent and reliable trading experience I have ever had. Darwinex will look after you - they are trustworthy.
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Under FCA regulation, your trading funds are protected by the FCA compensation scheme, which covers capital of up to £85,000, if the trading firm fails.
Highlight #2 - Overall Reliability and Customer Service
I have never had any issues. The customer service team is quick to respond and always friendly. Spreads are predictable. The overall trading experience is constant and reliable.
Highlight # 3 - Darwins
If you are profitable, you can create a Darwin - a social copy trading account allowing others to copy your trades. This will earn you a second income and is a great alternative to prop firms as there are no strict prop firm criteria.
Personal Experience & Summary
What more can I say.
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If you want a hassle-free broker, this is the CFD broker.
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You can open a free demo account with Darwinex here.
