5 best CFD Trading platforms for investors – Comparison and test

Introduction:

The single most important tool used in CFD transactions is the trading platform.  Even if you have the best support, educational materials, and leverage, if your platform is slow or limited to specific devices, your journey to becoming a good trader will be impossible to achieve. In this article, we will look at the top 5 best CFD trading platforms for investors- comparison and test. 

1. XTB

XTB is one of the popular FX and CFD brokers in the world. From their humble beginnings in Poland in 2004, they now serve close to 300,000 clients. They offer trading in ETFs, Forex, Commodities, and Indices.

Your investments are safe with XTB since they are supervised in all the major markets they operate. They are regulated by the KNF of Poland, FCA, CySEC, DFSA (Dubai), IFSC (Belize), and the CNMV (Spain).

Trading with XTB is hassle-free with the introduction of a multi-asset platform. Forex trading comes easy with 57 currency pairs. You can even trade the stocks of around 2,000 CFDs including Facebook, Google, and Microsoft. Or try one of the 135 ETF CFDs, 23 commodities, and 35 indices to get better investment exposure.

If cryptocurrencies excite you, they offer trading in Bitcoin, Litecoin, Bitcoin Cash, Ethereum, and Ripple.

All clients of XTB have access to the xStation 5 which is a multi-functional trading platform. Don’t get fooled by the simple interface as it comes loaded with features. Feel free to use it with your web browser, desktop app, or mobile app. It will cost you nothing to download the app from the App Store or the Google Play store.

Once you are inside xStation 5 be sure to explore the many sections and instructional videos there. Get breaking news as they happen all days of the week. Feast on the more than 1,000 articles, videos, and trading quizzes.

Now it’s time to trade. Go to the website or open the app and sign up for a new account. You are free to select between a Standard account or a Professional one. Give your basic information such as name, number, and tax ID and send it together with a valid ID card. After a verification process, you will now have your new trading account.

For beginners, don’t worry as there is a free demo account made for you. Practice all you want and get the feel of the trading environment. Test out different strategies to grow your virtual money.

Once you are ready, load up your account through PayPal or QIWI. You will not be asked to deposit a minimum amount, but there will be fees levied for each transaction. The professional account will have lower fees than the standard account holders. And note that you will be charged by PayPal or QIWI every time you transfer money. So, try to send bigger amounts to save on those extra fees. Take time to review the different fees and commissions at the time of registration.

To show that you are valued, XTB put in place a dedicated support team 24 hours a day, from Monday to Friday. Avail of the live chat through the web platform, desktop app, or mobile app. Talk to them in your preferred language whether it’s English, French, Thai, Russian, German, Vietnamese, Arabic, and many others.

But not all countries are supported. If you live in Japan, Singapore, United States, Canada, Israel, India, Cuba, Turkey, Australia, Pakistan, Syria, Bosnia and Herzegovina, Iran, Romania, Slovakia, Mauritius, Ethiopia, Kenya, Iraq, and Uganda you will not be able to use XTB.

XTB at a glance:

  • Over 300,000 clients trading daily
  • Regulated by the leading trade agencies in the world
  • Owns the trading platform xStation 5 the comes loaded with features
  • Demo account available to practice trading without losing money
  • No requirement for a minimum initial deposit
  • Trade in any device and operating system
  • Live chat supported in various languages anytime, Monday to Friday

2. Markets.com

Markets.com is the brainchild of Finalto (BVI) Limited, and tech giant Playtech. With strong support from these companies, it is no surprise that Markets.com is one of the most trusted CFD and FX brokers today.

All your money invested through Markets.com is assured by top regulators that include ASIC (Australia), the FSC, FCA, and CySEC.

Trading is never going to be boring since Markets.com has a wide selection of trade assets at your disposal. Take Forex as an example. You can trade with 67 major and minor currency pairs, more than enough to keep you glued for the day. You can also trade any one or any combination of the 25 digital currencies actively traded in Markets.com including Bitcoin Futures, Ethereum, Ripple, and many others.

If this is still not enough for you, why don’t you try trading the stocks of close to 2,000 big-name companies, the 40 market indices, or the 28 commodities in the portfolio of Markets.com?

Another exclusive to Markets.com is the trading platform MarketsX. It works on your web browser or through a mobile application. It comes with many exciting and informative contents that can make the new trader think like a professional trader. You can also consult with seasoned traders before making a live trade in the feature called trader insights. Use our most loved feature, the market sentiment, to gain insights into the psychological connection of the market with the trading asset. For highly mobile traders, download the app and never miss an opportunity to grow your money. Search for it from the Apple or Google Play stores and download it for free.

Another delightful feature that you will not want to miss is trading cubes. Using this will allow you to multi-task as you check several assets and trends in one convenient glance. Imagine the energy and time you can save from this one powerful tool.

Getting started with trading is easy with Markets.com. There are no complicated steps to follow. Simply submit your personal information and the documents, and then select your preferred account type. The retail account is for ordinary traders while the professional account is for big-time traders with more than half a million dollars funds. Muslim clients will be happy to know that an Islamic account is available.

Get ahead of the game with a free virtual account. Test the waters using paper money and avoid losing your cash. Explore the many sections, features, and opportunities within the platform to get yourself prepared for the real deal. Stay active in trading with your demo account as it will be deleted if there are no transactions done for the past 90 days. Markets.com also allows you to use demo and live accounts simultaneously so you can test several assets first before using actual money.

Once you mustered enough confidence in your trading skills, it’s time to get real. Activate your live account by depositing at least $100 through bank transfers, credit cards, or your digital wallet. A small commission will be charged to you for trading activities. Even inactive live accounts will be penalized so make sure you keep on trading. But you can reverse these charges by participating in rewards programs like sign-up bonuses and the member gets member schemes.  

If you encounter any difficulty, Markets.com created channels to get the help you need. Just pick up the phone (for UK clients) or click the contact us section (for all countries). A live chat feature is also available to get solutions to your concerns round-the-clock, 5 days a week. If you prefer to be anonymous, check the knowledge database for frequently asked questions in English, Arabic, or Spanish.

Trading with Markets.com happens in a lot of countries except the following: Singapore, India, Hong Kong, Iran, Syria, Japan, Turkey, Israel, United States, Russia, Puerto Rico, Canada, Brazil, Belgium, and New Zealand.

Markets.com at a glance:

  • Supported by large companies Playtech and Finalto (BVI) Ltd.
  • Adheres to regulatory policies in several countries
  • Hassle-free use of MarketsX platform from one device to another
  • Protects you from losing more money than you have in your account
  • Analyze different assets at the same time with Trading Cube
  • Simultaneously use Test and Live accounts to get better chances of success
  • Rewards programs are available for all clients
  • Support comes in many forms 24 hours a day, 5x per week

3. Capital.com

Capital.com is a newbie in the trading business compared to the other top traders. However, since its founding in 2016, it has become one of the fastest-growing with more than 780,000 clients and upwards of $13 billion trades executed.

All dealings and transactions done by Capital.com are strictly watched by the FCA and CySEC so you can be assured of top quality and legitimate trading practices.

They have more than 4,000 trading instruments that include stocks, crypto, indices, commodities, and Forex. You can choose from the more than 3,500 share options or the 31 commodities including gold. Forex trading is also done every day in more than 138 currency pairings. If you are into crypto, you will be happy that they have over 200 digital currencies to invest in.

The major difference of Capital.com against competitors is in the trading platform used. It is the only one that uses AI or artificial intelligence to increase the chances of profit. It works like a recorder that stores your trading patterns and then correlates them with successful trade results. Don’t be surprised to see something like- “you have lost in trading this week by more than 50%, consider widening your portfolios.”

Your investments done through Capital.com are easily accessible through the webpage or the mobile app. Download a free copy for yourself through Apple or Google Play stores.

Creating your trading account is a breeze with Capital.com. It will only take you 3 minutes to complete. First, submit all your details and documents, then put money into the account (minimum of $20 or Euro 20 or 20 GBP), and you can start trading in no time. But don’t forget that this broker also offers a demo account that is useful when you want more practice before you start using your real money. You can create a total of 20 accounts under one person: 10 virtual and 10 live accounts. Imagine how it becomes easier to predict the winning formula when you have several trading strategies running at the same time

Another feature you will love from Capital.com is the Investmate, a personalized trading mentor that will allow you to interact with courses, video lessons, and animations. With this, you can fast-track your learning curve and be a pro in a few months.

If you ever get lost or stuck while trading, you will appreciate the 24/7 customer service support that they offer. Now you don’t have to worry about your investments on a weekend or wait until the next trading day to get the help you need right now.

Capital.com at a glance:

  • One of the fastest growing trading companies today
  • Trades legitimately with regulation from FCA and CySEC
  • Uses AI or artificial intelligence
  • Low minimum deposit of only $20/Euro 20/GBP 20
  • Multiple accounts allowed: up to 10 live and 10 demo accounts
  • Features Investmate, your personalized trading mentor
  • Support is available 24 hours, 7 days a week

4. BDSwiss

BDSwiss started small in Switzerland in 2012 and experienced huge growth to become one of the biggest FX and CFD traders today. They operate in 186 countries with over a million traders using it. It created several companies to cater to the needs of their diverse client base with BDS Markets, BDSwiss LLC, BDSwiss Holdings PLC, and BDSwiss GmbH.

You can rely on the BDSwiss Group to take care of your money as they follow regulations from the NFA, CySec, BaFin, BaFin, FSA, and the FSC.

Get your hands on various trading instruments like Forex, commodities, shares, indices, cryptocurrencies, and ETFs with BDSwiss. There are more than 50 currency pairs to trade in Forex. If you want to trade ETFs and shares of the 900 big companies like Alphabet and Apple, this is just a click away. In commodities, easily trade the valuable resources of oil and expensive metals.

Indices trading comes fast with BDSwiss. And if digital currencies interest you, start trading in Bitcoin, Ripple, Litecoin, and Ethereum.

BDSwiss offers a wide range of platforms to match the different needs of their clients. Select the popular MetaTrader 4 or 5 if you want to focus on Forex. For stocks and other assets, the BDSwiss Mobile App or the BDSwiss Web Trader will be better for you. Users gave it a very high mark and bagged the 2021 Best Mobile Trading Platform award.

If you want speed, BDSwiss is your best bet. They can open an account for you in just a few seconds. Choose one from Classic, VIP, Raw, or Invest Plus as your account type. With Classic, you only need a $100 investment, and the price increases to more than $5,000 for Invest Plus clients. Load up by using digital wallets, online bank transfers, or credit cards. You are charged fees and commissions for trading and spreads that get higher as you move to the basic account types. So, if you plan to be active in trading, getting a more premium account will save you more from fees and other charges.

But hold on to your excitement first as you will need actual hands-on experience to succeed in trading. This is where the free demo account comes in handy. With Euro 10,000 in virtual funds in the demo account, you can easily test your trading skills. But the catch is that before activating this demo account, BDSwiss will require one-on-one discussion with a trading agent.

Being part of the BDSwiss platform opens you to a wealth of resources and helpful features that you must take advantage of. Learn new things from the daily market updates, marketing insights, video tutorials, and others. Join the training academy and get the best training from experts and follow a step-by-step guide to make you an advanced trader in no time.

When you face a wall of challenges while practicing your trading skills, reaching out is the best thing to do. BDSwiss client assistants are available 24 hours every day, from Monday to Friday. What is more, they can speak many languages so you can freely express yourself. Aside from English, they are also good at Portuguese, German, Spanish, Italian, Greek, and French. If you want to do personal research, the help and support database has a long list of Q&A, as well as how-to videos to make trading more accessible to everyone.

It is impossible to trade with BDSwiss if you come from the USA, Congo, India, Cyprus, South Africa, and Belgium.

BDSwiss at a glance:

  • Trusted by millions of clients every day
  • Keeps your money safe by adhering to regulator policies
  • Active in over 180 countries
  • Open an account in seconds
  • Free demo account comes with Euro10,000 virtual fund
  • Low starting deposit of $100 for the basic account
  • Multi-lingual client support available 24/5
  • Wide range of payment and withdrawal options

5. Etoro

Etoro is a million-miler broker that has an impressive 10 million users in 140 countries. Its strategy of being active in several social media channels paid off as they are one of the most recognizable brands in trading today, even among non-traders.

When you put your money in Etoro, you are assured that they will protect it based on the guidelines from FinCEN (US), FINRA (US), FCA (UK), ASIC (Australia), CySec, and GFSC (EU).

Etoro uses a trading platform that is both user-friendly and highly functional. Select from the many trading instruments offered including crypto, indices, commodities, currency pairs, and ETF. Trade with Tesla, Amazon, Facebook, and over 900 other stocks from all over the world.

They have the greatest number of currency pairings in the industry at 53 pairs making Forex trading with Etoro a storehouse of knowledge and experience. Trade different combinations at different times to get the best exposure possible.

Etoro has taken the concept of mobile trading to a whole new level with a fully equipped mobile platform that offers the same functionality as the webpage. Access all the charts, updates, market trends, and the different trading assets all from your mobile phone. Switching between devices is also effortless as the platform is fully integrated. Not to mention that the app is free to download from the Apple and Google Play stores.

The feature we like the most and think is cutting edge for this company is the CopyTrader. With this, you can easily replicate the trading methods of seasoned traders and take it as your own. By observing how successful traders do it, you can become an expert too in no time.

Are you excited to start trading with Etoro? First things first, you need to apply for an account. But don’t worry because there is only one account type to make the process easier than it is. Just give your contact details, send the documents, and wait for approval. Once your account is set up, deposit a minimum of $200 and you are ready to trade. Loading your account is also made more convenient with the multiple ways of depositing money: by credit card, bank transfer, or digital wallet. It gets even better for traders from the USA since the initial deposit is only $50.

Do you think that’s a great deal? For sure, but it gets better with a free demo account that comes with a $100,000 virtual cash. Now you can trade all you want, anytime, anywhere without the fear of losing your hard-earned cash.

Now let’s look at how Etoro makes money. We mentioned that they ask for a minimum deposit of $200 for each client. In addition, they also deduct fees from your account for trading transactions, currency conversion, and withdrawal of funds. Read the fine print of the terms of engagement for a detailed list of fees and commissions they charge.

Etoro also takes customer service to a whole new level with a one-stop-shop for all client concerns. Just ask and you will get answers from a knowledge database. You can also speak with a client service agent for more specific queries round the clock, 5 days a week.

As good as they are, Etoro has limitations in countries they can trade. Traders from Singapore, Japan, Turkey, Iran, Macau, Hong Kong, India, Saudi Arabia, Canada, Madagascar, and New Zealand cannot use the platform.

Etoro at a glance:

  • Serving more than 10 million clients in 140 countries
  • Actively present in social media platforms
  • Follows strict regulation by the authorities
  • Developed CopyTrader as a tool to help new traders
  • Do trading anywhere and on any device
  • Offers a demo account containing $100,000 virtual funds
  • Instituted a one-stop-shop to address client concerns
  • Various payments and withdrawal channels available

What is a CFD trading platform?

A CFD Trading platform is a program that is created to get started with CFD trading in real-time. It includes relevant information, moving charts, and other functionalities. Almost all the big trading companies have their CFD trading platform.

Most of the trading platforms are web-based. It can be accessed through any web browser: Safari, Chrome, Firefox, etc. But as more people are getting mobile, the need for app-based platforms has increased. It is the reason for the creation of applications that mimic the browser platforms. Although there are still a few things that apps cannot do, they can provide updates, basic charts, and webinars. And the features in the apps will only improve in the next few years.

A CFD Trading platform must always be secured. It contains personal information such as your name and contact details. It also has your money through deposits and linked financial records. Before you open a CFD trading account or register through any application, be sure to read the terms and conditions. Also, look for the security seal provided by reputable third-party authentication partners for added assurance. Ensure that you transact only with reputable trading companies.

What is the best CFD trading platform?

All the trading platforms developed by the top5 in this list are already winners. The ability to integrate web-based platforms with mobile versions is a big achievement worthy of mention. Seamless and fast trading is also important to CFD traders all over the world. The inclusion of industry-leading features such as sentiment tracking, virtual trainers, and a lot more make the fight for the best CFD Trading platform more complicated.

However, based on our test and assessment, Etoro’s trading platform is a clear winner from all the rest. First, Etoro developed their mobile trading platform to work the same way as their web-based platform with even the minor features integrated into the mobile phone environment. This is a cut above the rest since most mobile versions are just an excuse to jump into the need for increased mobility and portability. They either have missing features or disrupted representation of charts and trends from the web platform.

Second, CopyTrader is our favorite added feature since this allows even beginners to succeed in trading where the risk of losing money is very high. They can follow expert traders, look at their strategies, and copy the trading of the source as if it was their very own trading strategy. This also gives beginners and moderate traders more exposure to the winning strategies of experts and widens their knowledge base founded on reality and not just theories from the textbooks.

Where can I trade CFD?

CFD trading happens in real-time, but you will need a platform designed by brokers or middlemen to carry out the transaction. The most common and widely used trading platform is through the webpage. Here you can get access to all the trading instruments available from this trader which you can study and chart to get informed decisions when to buy, when to hold back, or when to sell. It also carries other functionalities including webinars, educational materials, and interactive lessons. They also have news content as and when they happen since these have an impact on trading policies and pricing trends.

But as more and more people adopt a mobile lifestyle, CFD trading has also evolved to add mobile-based trading platforms into their portfolio. Now we can see almost all the big traders either creating a mobile app version of their website, or a truly standalone mobile app designed for traders on the go. In the future people will move more to the mobile app trading platforms and as they do, we can expect more and more improvements to the app.

Can I test a CFD Trading platform for free?

Most of the CFD Trading platforms have a demo or virtual accounts that allow the user to trade without using real money. It works like a free trial where the customer gets firsthand experience of the platform without a commitment or deposit.

In choosing the right demo account for you, look at factors such as the amount of virtual money you can use, the number of free accounts you can use per day, and the ability to trade simultaneously between the demo and the live account.

There are different terms and conditions associated with demo accounts. Some require a minimum deposit amount, while others will want to get you on a call to activate the free trial. It is important to read the terms and conditions of each free trial account to be sure that your privacy and security are protected.

Conclusion

Trading platforms are the single most important instrument for CFD trading. There are a lot of platforms available from different traders that promise speed, functionality, and a whole lot more features. Some overpromise and underdeliver. Before you even realize it, it may be too late to back out, especially when you started to put your investments on their platforms.

Save yourself from heartaches and avoid losing your hard-earned cash and valuable time. Study the advantages and disadvantages of each CFD trading platform and choose the one that is right for your level of experience and needs. Of course, you must only trust traders that are regulated by the authorities to safeguard your investments. Take advantage of the free demo accounts and assess the performance of the platform. Only by being vigilant will you have greater chances of success in CFD trading.

Last Updated on February 8, 2022 by Andre Witzel