How to Choose the Best CFD Forex Interactive Brokers


Written By: Ehsan Jahandarpour

best cfd forex interactive brokers

When choosing a CFD forex interactive broker, you need to consider several factors. First, you should consider the type of regulation the brokers are subject to. Different countries have different levels of regulation. This can be very important for you as a trader, as they may have different maximum leverage levels and may even require brokers to keep funds in segregated accounts. Also, it is important to know how brokers charge their clients. Some do not charge commissions, while others take a cut of every trade.

OANDA

OANDA offers clients a range of trading options including standard forex margin accounts, corporate/trust accounts and Advanced Trader benefits. Unlike most other brokers, OANDA does not charge a flat-rate commission. Instead, the broker makes its money through variable dealing spreads. Its platforms display the buy and sell rate, which correspond to other forex brokers’ bid and ask rates.

The website of OANDA is well-organized and features several different user interfaces. Its customer support is available around the clock via email. While there is no live chat or phone support, customer representatives are courteous and responsive. There is also a searchable knowledge base that answers most questions about the trading platform. However, the lack of flat trading fees may prove difficult for some traders, especially for those who are new to the market.

XTB

XTB is one of the leading global CFD and Forex brokerages. Its head office is in London and its offices are spread across 12 different countries. The company is regulated by the Financial Conduct Authority, Poland’s Financial Supervision Authority and the National Securities Market Commission, and has over 495,000 customers. The firm offers access to over 100,000 different financial instruments. These include indices, forex, commodities, and stocks.

XTB offers a variety of deposit methods, including PayPal, credit/debit cards, and bank transfers. The account opening process is free, and the minimum deposit is $250. XTB also offers a standard trading account with over 1500 different instruments. The company offers negative balance protection, automated trading, and low spreads.

IG Markets

The IG brokerage does not charge any deposit or withdrawal fees. You can deposit through a credit or debit card, bank transfer, or even through Paypal. IG offers more than 90 Forex pairs and other assets, including commodities and precious metals. Withdrawals take about two to five working days. The minimum withdrawal amount is PS100.

The account opening process is relatively simple and hassle-free. You can upload all necessary documents digitally. It may take some time to verify your identity, but this is much faster than other brokers. In addition, IG offers unique trading tools that other brokers do not have. However, these tools are not available to traders in all countries.

TD Ameritrade

TD Ameritrade is an online broker in the US that provides CFD trading on a variety of underlying assets. It is regulated by the CFTC, SEC and FINRA. It is also a member of the NFA. Investors can trade with TD Ameritrade through a number of investment platforms and enjoy a high level of customer service.

Thinkorswim, TD Ameritrade’s desktop trading platform, provides advanced charting and research capabilities. The platform features a customizable dashboard, 382 technical indicators, and over 80 trading strategies. It also allows traders to simulate their trades before they enter the real-money trades.

eToro

eToro is an online brokerage that offers CFD trading on a variety of assets. It also offers CFDs on other assets such as cryptocurrency. The platform allows you to trade using leverage and includes social networking tools and a community for support and guidance.

eToro offers trading on shares, and you can even invest in real company shares. In some countries, you don’t have to pay a commission when you buy shares. However, you have to understand that you can only invest in real shares if you are making long-term, unleveraged trades. CFDs, on the other hand, are short-term investments. You can choose from hundreds or thousands of shares, depending on your needs.

Another great feature is eToro’s copy trading feature. Copy trading allows you to copy the trades of other traders on the platform without incurring any additional costs. It takes just three simple steps to copy a trade. eToro’s customer service is also responsive.

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