Top 10 Best CFD Trading Apps Revealed 2021!

Oct 25, 2021CFD Trading0 comments

Contract for Difference(CFD) trading over the last few years has increased in popularity. And as the demand for CFDs increases, many retail brokers have started to offer CFDs to their clients. Trading CFDs has the attention of many traders as they can profit when there’s gain and a loss of the underlying instrument. However, there are key determining factors to consider before you venture into trading CFDs.

This article will be looking at the best CFD app that traders should look out for. We’ll show the key factors to consider when choosing the CFD trading application to make use of and expert tips on trading CFD.

Part 1: Top 10 CFD applications worth considering in 2021!

Here is a review on top 10 CFD app that is worth considering

1. eToro

eToro is a tremendous and top-rated retail CFD trading app. Every hour, they facilitate thousands of transactions and provide millions of users with a brokerage. Their consumer services are one of the best in the business.

eToro is regulated by top trusted financial authorities worldwide, so you can be sure that everything is under control. They use an advanced risk management feature like customizable Stop losses, and to mitigate the volatility of CFDs, they use the real-time alert.

Is eToro safe?

eToro is operated under the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investment Commission (ASIC). eToro individually is not listed under any stock exchange. As the service units are regulated under top-tiers, eToro is considered safe.

Customer service:

eToro customer service provides an average service performance. It tries to provide relevant answers to the traders. The customer service of eToro provides the options like live chat and web-based ticketing. Traders can get their answers through email. It provides services from Monday to Friday. But it provides customer support 24 hours daily.

Instruments:

The offered instruments on eToro are Commodities, Crypto, Indices, Stock, ETFs, and Currencies.

Spread:

The spreads levers are changeable on eToro. eToro tries to ensure to provide the best possible rates.

Margin:

Margin is determined through the invested amount and leverage.

Deposit and withdrawal:

A minimum deposit amount requirement on eToro is $50.

The requirement will be at least $500 through all deposit options of Bank Transfer. A minimum deposit of $10,000 is required while opening a corporate account only for USD accounts. It has a requirement of some conversion fees for non-USD deposits while a $5 fee for withdrawal.

Leverage:

The basic leverage limitations are:

  • 30:1- major currency pairs
  • 20:1- non-major currency pairs
  • 20:1- commodities and major indices
  • 10:1- commodities and non-major indices
  • 5:1- CFD stocks
  • 2:1- cryptocurrency

Trading platforms:

  • eToro OpenBook
  • Webtrader

Trading experience:

eToro provides a simple process and makes placing a trading simple. All buttons for trading are easily accessible in its watchlist. Traders can easily create watchlists.

Active clients:

eToro has 20 million active users globally.

etoro cfd

PROS

  • Wide variety of trading instruments
  • Simplified financial reports
  • Demo account available

CONS

The account allows only one currency base

2. Plus500

Plus500 started operations in the year 2008 in Israel. Now, they have expanded to other regions, making themselves well-regulated brokers. This CFD trader app works best for trading CFD, as other trading forms are not available.

Is Plus500 safe?

Plus500 is under the London Stock Exchange. This broker is well-authorized under the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC). And so, it is considered secure.

Customer service:

Plus500’s customer support includes live chat, WhatsApp, and email. It offers great customer support with 24/7 availability. The live chat and the email responses are fast and provide reliable answers.

Instruments:

Plus500 offers trading instruments such as Forex, Commodities, Shares, Crypto, Indices, Options, and ETFs.

Spread:

There are some spreads of major currencies available on Forex.

  • AUD/USD Spread is $0.0008 per unit/0.01%.
  • GBP/AUD Spread is 0.02%. In Sept 2021- $0.00029 per unit.
  • EUR/AUD Spread is $0.00025 per unit, and in Sept 2021- 2.5 pips/0.02%.

Note: Plus500 does not disclose the spreads of instruments except Forex’s spread.

Margin:

On Forex, the margin is 0.33% for major pairs. For other instruments, the margin varies because of the trading leverage.

Note: Plus500 does not disclose the margins of instruments except Forex’s margin.

Deposit and withdrawal:

Plus500 has the requirement of a minimum deposit of $100. Its deposit and withdrawal services have many options. The withdrawal process is free of charge. It includes a credit/debit card option too.

Leverage:

The minimum lavage on Plus500 is 30:1. See leverage on other instruments.

  • On Forex, major currencies’ leverages are currently 300:1.
  • On shares, traders utilize leverage through Contracts For Difference with charged commission-free on trades.
  • On Indices, offered leverage is up to 300:1.
  • On commodities like Gold are traded for AUD 100.
  • On commodities, leverage is lower at 300:1.
  • On ETFs have leverages of each 1:100.

Trading platforms:

  • WebTrader (proprietary platform)

Trading experiences:

Plus500 provides a proprietary platform called WebTrader for a great trading experience with its easy-to-use interface. It helps set up own watchlists with a customized option, analyze trading charts including around 100 technical indicators, place orders, and monitor them. The platform has stable and easy access from several types of systems and devices.

Users:

Plus500 trading platform provides services to up to 100,574 new customers.

plus500 cfd

PROS

  • User-friendly interface
  • Outstanding customer support services.
  • Easy account opening process

CONS

  • Minimal tools for research
  • Trades CFDs only

3. Interactive Brokers

Interactive Brokers is one of the oldest brokers as it has been in operation since the 1970s. They started in the UK, where the FCA regulated them but expanded into the US, gaining SEC regulation. Being the oldest, they are reliable, especially for day-traders. Though there is no minimum deposit fee, they are not suitable for beginners. This CFD trading app provides lots of information. It provides users with an overwhelming amount of data.

Is Interactive Brokers safe?

Interactive Brokers are under the financial top-tiers such as the Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC). It is observed under a stock exchange and thus is safe.

Customer service:

The customer service of Interactive Brokers is not good. It should be better. It allows contacting through phone support, email, live chat and provides an automated ‘iBot.’ Traders may get most contact options not available 24/7.

Instruments:

Interactive Brokers allows access to a vast range of markets. Traders will find all available types of instruments.

Spread:

The spread of Interactive Brokers will vary. The minimum spread on Forex for trading EUR/USD is 0.1 pips.

Margin:

The initial margin requirement of the Federal Reserve Regulation is at least 50%. And the margin requirement of maintenance is at least 25%.

Deposit and withdrawal requirements:

An Interactive Brokers account requires funding a minimum of $100. Funding the account requires a minimum of $25,000 for investing in portfolios. Interactive Brokers offers free withdrawal once a month for using only bank transfers.

Leverage:

The maximum leverage of Interactive Brokers is 1:40.

Trading platforms:

  • Desktop-based Trader Workstation (TWS)

Trading experience:

Because of having a desktop-based Trader Workstation (TWS), the trading experience of Interactive Brokers becomes outstanding to the traders. The workflow is intuitive on the mobile app.

Active clients:

Interactive Brokers provides services to around 607,000 users’ accounts.

interactive brokers cfd

PROS

  • Many useful research tools.
  • No minimum deposit fee.
  • Margin rates are low

CONS

  • Not a suitable platform for beginners.

Opening of account takes 1-3 days.

4. IG

IG is also one of the old trading apps regulated by many top authorities globally, such as FCA in the UK and Germany’s Basin, and thus, regarded as one of the biggest CFD brokers in the world. It doesn’t make use of the MetaTrader platform; instead, it innovated theirs. Their proprietary platform is customizable and easy to learn. IG provides in-depth information to its users.

Is IG Markets safe?

IG Markets is safe, under the Federal Financial Supervisory Authority (BaFin) and the Financial Conduct Authority (FCA), and observed under the London Stock Exchange.

Customer service:

IG offers customer service support with 24/7 availability. Traders are provided relevant answers through its service supports. Email and phone service can be slow. The live chat stays offline most of the time.

Instruments:

IG offers instruments such as Commodities, Forex, Indices, Shares, CFTC, and Cryptocurrencies.

Spread:

The spread begins from 0.6 pips on major Forex currency pairs such as EUR/USD. On commodities like Spot Gold has spread from 0.3 pips.

Margin:

The margins vary between 3.33% and 50%. The margin of Forex, indices and Commodities (Spot Gold) will leverage 200:1.

Deposit and withdrawal requirements:

The minimum amount on IG is $300 for card payment. IG provides free withdrawals with multiple methods such as PayPal, bank wire transfer, and credit card.

Leverage:

IG offers low leverage of 50:1.

Trading platforms:

  • Mobile trading
  • Algorithmic trading
  • ProRealTime
  • MetaTrader 4
  • API interfaces
  • Trading signals
  • Trading alerts

Trading experience:

IG provides great trading experiences through its technology designed to provide an easy-to-use web platform.

Active clients:

IG has almost 313,300 active clients worldwide.

ig cfd

PROS

  • Exceptional trading platform
  • Give users access to their financial statements
  • Regulated by top authorities

CONS

  • Slow account opening process
  • Requires a few for stock and Forex CFDs

5. FP Markets

FP Markets is a CFD and forex broker, Australia-based, regulated by the ASIC that supports up to 10 based currencies for different accounts. It has a quick account opening process and requires a small amount for a minimum deposit. FP is known for its well-structured fee and pricing. They are among the few brokers who charge nothing for inactivity for dormant accounts. They also have no cost attached for withdrawals.

Is FP Markets safe?

FP Markets, founded in 2005, is maintained by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities & Exchange Commission (CySEC), & the Financial Services Authority of St. Vincent and the Grenadines. ASIC regulates FP Markets, and it is considered safe.

Customer service:

FP Markets provide customer service options; live chat, phone support, and email in multiple languages, 24/7. Its phone service is fast, and email support is excellent.

Instruments:

FP Markets include Forex, Indices, Shares, and Commodities including gold, oil, silver, and more.

Spread:

FP Markets offer Forex minimum spreads on RAW ECN accounts from 0.0 pips to 1.0.

  • Forex: Raw ECN A/c- Min-0, Avg- 0.9, Standard A/c, AUD/CAD- Avg 1.9.
  • Metal: Raw ECN A/c- Min- 0, Avg- 0.13, Standard A/c- XAU/USD- Min 0.31
  • CFD Commodities: Standard A/c- WTI- Min- 0.04, Avg- 0.04
  • Cryptocurrency: Standard A/c- BTC/USD- Min-9.34, Avg- 17.7
  • Indices: Standard A/c- AUS200- Min- 0.1, Avg- 1.2

Deposit and withdrawal requirements:

FP Markets requires $100 as a minimum deposit. Its withdrawal processes require no fee in several cases. Their deposit options are credit/debit cards, bank transfers, and electronic wallets.

Leverage:

This platform offers FP Markets Pro Account for experienced and professional traders. Traders will get here maximum leverage of 500:1.

Trading platforms:

  • Metatrader 4 (MT4)
  • Metatrader 5 (MT5)
  • Mobile Trading App
  • WebTrader

Trading experience:

FP Markets offers several platforms with user-friendly interfaces to trading. Traders can get a great experience overall.

fpmarket cfd

PROS

  • Demo account available with virtual funds
  • It is regulated

CONS

  • Very few markets and products.

The trading platform is not satisfactory.

6. PepperStone

PepperStone is an exclusive broker regulated in Australia by the ASIC and in the UK by the FCA with leverage of up to 500:1 for traders outside the EU. This is to increase the position size but could lead to significant losses.

PepperStone provides traders with a wide range of accounts to select from, including ECN and STP. It also makes available a Sharia-friendly account on request.

Is PepperStone safe?

PepperStone, established in 2010, is under the three top-tier financial authorities such as the UK’s Financial Conduct Authority (FCA), Germany’s BaFin, and the Australian Securities and Investments Commission (ASIC). And so, the platform is considered safe.

Customer service:

PepperStone customer service is excellent through live chat, phone support, and email in several languages, providing relevant answers. But, PepperStone customer service is only available from Sunday to Friday.

Instruments:

The offers instruments of PepperStone are Forex, Cryptocurrencies, Shares, ETFs, Commodities, Indices, and Currency Indices.

Spread:

All spreads are different based on the current price of instruments. Let’s check some of the offered spread of PepperStone.

  • Forex:. AUD/USD Razor minimum spread- 0, Razor average spread 00.17, Standard minimum spread- 0.6, and Standard average spread- 0.77.
  • Indices: US 500 Index: Minimum spread: 0.4, US Wall Street 30 Index: 2.4
  • Commodities: Spot Silver ($) Minimum spread- 0.5, Average spread- 1.09, Spot Gold ($) Minimum spread- 0.05, Average spread- 0.13
  • Cryptocurrencies: Bitcoin: Minimum spread- 30, Average Spread- 31.39
  • Shares: Facebook: Minimum- 0 + market spread, Apple: Minimum- 0 + market spread

Margin:

Margin may vary as 0.5%, 2%, and 1% by calculating the maximum leverage in a trading account.

Deposit and withdrawal requirements:

The minimum deposit requirement is AUD 200 to trade. Pepperstone provides multiple deposit and withdrawal options. It will require a $20 fee for bank withdrawals to clients outside Australia and the EU.

Leverage:

PepperStone offers leverage of up to 30:1 for its retail clients. For professional clients, leverage is up to 500:1.

Trading platforms:

  • MT4
  • MT5
  • cTrader

Trading experiences:

MetaTrader provides the web trading platform of PepperStone that is customizable in many languages with a poor design. It doesn’t offer a two-step login option or shows price alerts.

Active clients:

Pepperstone has up to 300,000 active traders globally.

pepperstone cfd

PROS

  • No cost for deposit and withdrawal.
  • Very low inactivity fee.
  • Risk protection and stop losses available.

CONS

  • Meager research tools.
  • Trading with CFDs incurs a high commission.

7. IQ Option

IQ Option is a Cyprus-based broker that CySEC regulates. They launched in 2013 and have since built a reputation for themselves as one of the best Europe CFD brokers.

It has a simplified account opening process and a relatively low minimum deposit, attracting new traders. IQ Option has some account types that traders can choose from according to their needs. A free demo account is also available.

Is IQ Option safe?

IQ Option is authorized and maintained by the Cyprus Securities Exchange Commission (CySEC). And so, IQ Option is safe.

Customer service:

IQ Option serves by assisting depending on the client’s needs. The broker platform provides services 24/7 through email, live chat, and the telephone.

Instruments:

Instruments that IQ Option provides include Forex, Stock, Commodities, Crypto, and EFTs.

Spread:

Offered spreads of IQ Options on instruments include:

  • CFD and FTSE Spread: GBP/USD Spread- 1, Oil Spread- 2.3, Stocks Spread- 2
  • Forex: GBP/USD Spread- 5 pips, EUR/USD Spread- 14 pips, EUR/GBP Spread- 15 pips
  • Cryptocurrency: BTC 7%, ETH 12%

Margin:

The margin requirements of IQ Option are 0.2%.

Deposit and withdrawal:

The minimum IQ Option deposit is 10 USD/EUR /GBP, which can be through a debit or credit card, Skrill, Webmoney, Neteller, and other e-wallets.

Leverage:

The leverage is 1:30 for EEA traders.

  • Stock: Leverages up to 1:20
  • Forex: Leverages up to 1:1000
  • Commodities: Leverages up to 1:100
  • Crypto: Leverages up to 1:100
  • EFTs: Leverages up to 1:20

IQ Option offers a maximum leverage requirement of 1:500 for non-EEA members.

Trading platforms:

  • Desktop Windows / Web / MacOs / Mobile

Trading experience:

IQ Option offers a proprietary platform that is well-designed for trading and user-friendly. Traders can monitor the conditions through a proposed prominent chart feature. The platform provides multiple trading tools.

Active clients:

The total number of total active clients in 2021 is more than 48,091,542.

iq option cfd

PROS

  • Several CFD instruments are available
  • Excellent Mobile application
  • Quick trading transactions.

CONS

    • Poor customer service

    8. AvaTrade

    AvaTrade is a known broker, launched in Dublin in 2006. The Central Bank of Ireland regulates them, making it a highly secured broker. AvaTrade uses the MT4 and MT5 platforms and comes with different functions. They also have a proprietary platform for trading, AvaOptions, which is focused basically on CFDs. Avatrade is a well-designed and information platform, but it uses only a single-step login wish that is open to Cyberattack.

    Is AvaTrade safe?

    AvaTrade is well-maintained by authorities like the Central Bank of Ireland. And so, it is considered safe.

    Customer service:

    The offered contact options of AvaTrade are live chat, phone support, and email. AvaTrade provides relevant answers in many local languages.  Customer service support of AvaTrade is available 24/5 only.

    Instruments:

    Offered instruments of AvaTrade are Commodities, Forex, Stock, ETFs, Indices, FXOptions, Bonds, and Cryptocurrencies.

    Spread:

    The average spread ranges from 0.03 on bonds, 0.9 on FX Options, 0.3 pips on Indices, and 0.34 on commodities. Check out some requirements of spread:

    • Stocks: .13%
    • Forex: EUR/USD- 0.9, GBP/USD- 1.6, USD/JPY- 1.1, EUR/CHF- 2
    • Commodities: Gold- 0.34, Crude oil- 0.03, Silver- 0.029, Platinum- $1.10 over market

    Margin:

    Check out some margin requirements below.

    • Stock: All types of stock
    • Forex: on major currencies 0.25%
    • Commodities: Gold- 0.5%, Crude oil- 1%, Silver- 2.0%

    Deposit and withdrawal:

    The minimum deposit of AvaTrade is $100. The deposit and withdrawal options include credit/debit cards and bank transfers. The negative point is the withdrawal process may take up to 3 business days. The deposits through a debit card can be slow.

    Leverage:

    Check out some leverage options.

    • On major Forex currencies: 400:1
    • Stock: Average Leverage- 10:1
    • Commodities: Gold- 200:1, Crude oil- 50:1, Silver- 100:1, Platinum- 50:1

    Trading platforms:

    • MetaTrader 4
    • MetaTrader 5
    • AvaTradeGO
    • Ava Social
    • AvaOption
    • Mac Trading
    • Web Trading

    Trading experience:

    AvaTrade offers a great trading experience. The main objective of AvaTrade is to focus on a Customer-First Approach.

    Active clients:

    AvaTrade trading platform serves up to 200,000 registered clients.

    avatrade cfd

    PROS

    • Quite a large number of trading instruments are available.
    • Fast and easy account opening process.
    • Top-Notch research tools.

    CONS

    • Free demo account only available for 21 days.

    Heavy penalty for inactivity.

    9. Markets.com

    Markets.com is one publicly listed broker well regulated by five different top authorities that uses its own trading platform MarketsX. It is a well-designed and simplified platform with integrated research tools. Apart from his ability to offer Traders access to MT4 and MT5 platforms, they also have few trading instruments.

    Is Market.com safe?

    Markets.com is regulated by the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). And so, it is safe.

    Customer service:

    Markt.com has email, live chat, phone support, and online query form options for their customers. But its service is not available on weekends. There are several local phone number calling services for phone support. It provides the local phone numbers on the website.

    • EU: +357 2222 2121
    • AU: +61 280 144929
    • Other countries: +44 203 1500 380

    Instruments:

    Markets.com’s product portfolio includes CFDs, Forex, and real stocks.

    Spread:

    Markets.com spreads vary on its different accounts.

    • Forex: USD/JPY- MarketsX Account 0.70, Spread Betting Account 0.60, Islamic Account 0.70, and EUR/GBP MarketsX Account 0.90, Spread Betting Account 1.00, Islamic Account 0.90.
    • Index: US 500- 0.40, FTSE 100- 1.00 for MarketsX Account, Spread Betting Account, and Islamic Account.
    • Index futures trading offers only the minimum spread.
    • Commodities: Gold- 0.30, UK Oil- 0.06for MarketsX Account, Spread Betting Account, and Islamic Account
    • Cryptocurrencies: BTC- MarketsX Account 86.0, Spread Betting Account 86.0, Islamic Account 86.0, and XRP- MarketsX Account 0.0100, Spread Betting Account 0.0100, and Spread Betting Account 0.0100.
    • Bonds: 0.06 for MarketsX Account, Spread Betting Account, and Islamic Account
    • Shares (Marketsi Account): US Stocks- 2c (min $15), after 3 free months; EU Stocks- 2c (min $15), after 3 free months

    Margin:

    Margin is determined based on the leverage of Market.com.

    Deposit and withdrawal requirements:

    Markets.com has a requirement of a minimum deposit of $100. It offers many deposit and withdrawal options. Withdrawals are free of charge.

    Leverage:

    The leverages start from 25:1 for futures markets up to 100:1 for commodities like Gold and silver. Another trading instrument offers leverages of up to 1:300.

    Trading platforms:

    • MT4
    • MT5
    • Marketsx: for share-dealing and investing.
    • Marketsi: for CFD trading
    • Mobile

    Trading experience:

    Overall trading experience of Market.com is good in both web browser and phone.

    market.com cfd

    PROS

    • Easy to use web version of trading app.
    • More than 2,000 CFDs available.

    CONS

    • A very high spread.

    Research tools can expand.

    10. XTB

    XTB is a global online CFD and Forrest broker that has its offices in Warsaw and London. Britain’s FCA regulates it. XTB is a reliable broker that publishes its financial statement regularly and is one of the best CFD brokers available. They have a competitive fee and commission structure compared to other brokers. They offer a $0 minimum deposit for account opening.

    Is XTB safe?

    XTB is well-authorized by the Financial Conduct Authority (FCA) and under the Warsaw Stock Exchange, so XTB is considered secure.

    Customer service:

    Customer service of XTB includes email, phone support, and live chat. The phone and live chat services of XTB are reliable and are available in many languages.

    Instruments:

    The offered instruments of XTB are Forex, Commodities, Indices, and CFDs on Bitcoin, Stock CFDs & ETF CFDs, and other cryptocurrencies.

    Spread:

    Take some idea of the popular instrument’s spread on XTB.

    Forex: AUD/CAD MIN SPREAD 0.00044

    TARGET SPREAD 0.00046

    Indices: AUS200 MIN SPREAD 4

    TARGET SPREAD 5

    Commodities: ALUMINIUM MIN SPREAD 11

    TARGET SPREAD 12

    Crypto: BITCOIN MIN SPREAD 0.22%

    TARGET SPREAD 0.22% – 0.35%

    Margin:

    Through margin level differs based on the leverage; check the below-average margin level of each instrument:

    • Forex: AUD/CAD: 0.2%; AUD/CHF: 0.2%
    • Commodities: ALUMINIUM: 1.5%; BUND10Y: 0.5%
    • Indices: AUS200 1%
    • Crypto:  BITCOIN: 20%

    Deposit and withdrawal:

    The maximum deposit of XTB depends on the location of an account. Check the deposit requirements based on area:

    • From the USA- $250
    • From the UK- £250
    • From European Union- €250

    The only way traders can withdraw money is through bank transfer.

    Leverage:

    Some instrument’s leverages on XTB are below:

    • Forex 1:500 (on major pairs)
    • Commodities: ALUMINIUM 1:67; BUND10Y 1:200
    • Indices : AUS200 1:100
    • Crypto: BITCOIN 1:5

    You can check the official website to know the current status of leverage on more instruments.

    Trading platforms:

    • xStation 5
    • xStation Mobile

    Trading experiences:

    XTB’s trading experiences are great because it tries to provide excellent customer service. This platform is helpful as publicly traded and also is a safe broker with low-risk for trading.

    Active clients:

    XTB has up to 275,000 users around the world.

    xtb CFD

    PROS

    • Very suitable for CFD and forex trading.
    • Free withdrawal of over $10. Very high inactivity fee.

    CONS

      • Very high commission for CFD on the stock.

      PPart 2: What factors to look for before choosing the best CFD trading app

      To find the best CFD brokers online, there are certain advantageous features you should look for before finally making a decision and opening an account. Here is the list of factors to look for when choosing a CFD trading application.

      Leverage: This is a tool provided by the CFD trading platform that enables investors to gain greater market exposure with less initial capital. When looking for the best CFD brokers, you should ensure that they have a good leverage ratio. These ratios control the value of your position relative to the amount of capital.

      Free demo account-the best CFD brokers should provide you with the Option of trading through a demo account before opening an account with real currency; this should primarily be a free option for you to participate.

      Risk management tools: There is usually much information and tools available for you to use on a good CFD trading platform. When opening a position on the market, or if you choose to edit the current position, you should be able to apply a stop loss or stop-loss limit. The stop-loss limit protects your profits, minimizes your losses, and closes the position at a specific price you set.

      Access to various tools and markets: Good investors will have a diversified portfolio, so the relevant CFD trading platform should have a broad range of tools to trade in and allow you to enter markets around the world.

      PPart 3: 10+ Survival Expert Tips for CFD trading 2021

      Here are the expert tips on how to trade CFD.

      1. Use a stop-loss order

      Use a stop-loss order. Make sure to limit your downside by using stop-loss orders or even guaranteed stop-loss orders.

      2. Use a demo account first

      Before you enter directly, we recommend that you start your CFD trading journey by learning how to trade using a demo account provided by many online brokers. Before risking your actual fund, a demo account is the right place to begin. If you start a demo account, it’s a great idea to test run it with an amount that you’re willing to trade in real life.

      3. Do your homework

      Understand what you are doing, including the basics of CFD trading and your specific trading combination. So don’t start trading until you know what a limit order or market order is. Don’t try trading forex CFDs until you

      4. Use the correct trading position

      Some brokers don’t give users the means to manually lower the leverage. In these cases, you may need to consider going below your trading position. In any case, always understand your pending risk exposure.

      5. Develop a trading strategy

      Make sure to set a strategy or plan for each trade before opening each trade. For example, you should consider where to close a position in advance in the best and worst cases. You should consider how much loss you can afford or how satisfied you are with the profit on that particular position.

      6. Consider cutting your losers

      Now is the tricky part. If things don’t go well, make sure you don’t start chasing losses and continue to work on the original strategy. When you are emotional and want to “win back” what you lost, you may make the worst mistakes. Don’t do that. Make your rules and follow them.

      7. Leverage is two-way

      Leverage is a double-edged sword-we cannot emphasize enough. By using leverage, you can invest more. This is certainly a nice feature, but it requires a responsible approach. Leverage not only magnifies your gains; it also magnifies your losses. Please pay attention to the leverage ratio you choose and make sure to correctly set the size of your trading position.

      8. Be prepared for rainy days

      There will always be a few days when your trading position is not suitable for you, so please always keep enough equity/cash in your account in case you need to provide additional margin.

      9. Don’t put all funds into a particular trade

      CFD trading allows you to access various markets and assets, so there are plenty of opportunities for diversification and you should. Just because you realise oil stocks are the next epic thing, don’t enter Exxon Mobil, Shell and BP, and crude oil at the same time. If you are proven wrong, you are grossly wrong because these assets are interrelated and likely move in the same direction.

      10. Choose a reliable CFD broker

      Having a good CFD broker can indeed have an impact on your trading results. On the one hand, the cost is high. When you trade frequently, transaction fees can bring you a large part of your profits. When trading CFDs, the most significant cost is the cost of spread: the difference between the buying price and the selling price. Make sure that the way the broker you find determines the spread will not affect all your trading results. Then there is financial safety.

      Check out the comparison table for the mentioned platforms mentioned above:

      CFD platforms

      Overall Rating Fees Account opening Deposit and withdrawal Trading platform Markets and products Research Customer service Education
      eToro 4.7 4.4 5.0 3.5 4.8 3.8 3.5 3.3 3.5
      Plus500 4.4 2.9 5.0 5.0 4.9 1.9 3.3 5.0 3.5
      Interactive Brokers 4.9   4.2 3.4 3.5 3.7 5.0 4.3 3.4 4.5
      IG 4.6 4.5 4.4 3.1 5.0 3.9 3.5 3.6 5.0
      FP Markets 4.5 4.7 5.0 4.1 3.5 2.3 3.3 4.0 5.0
      PepperStone 4.5 4.4 5.0 4.3 3.5 1.7 3.3 4.5 5.0
      IQ Option 4.3 4.5 4.5 4.2 4.0 3.5 3.3 4.5 4.0
      AvaTrade 4.5 3.5 5.0 4.5 4.1 2.0 4.6 4.5 5.0
      Markets.com 4.4 2.7 5.0 5.0 3.9 2.9 4.5 4.4 5.0
      XTB 4.7 3.8 5.0 4.5 4.4 2.8 4.1 4.4 5.0

      Conclusion

      Thus, you can now see the best app for CFD trading to consider when you want to start trading CFD. Also, take into note the beneficial factors that play an essential role in CFD trading. Finally, practice the expert tips for the maximum result when using a CFD trading app.

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