The Best CFD Forex Brokers For Beginners

Written By: Ehsan Jahandarpour

best cfd forex brokers

CFDs are financial products that are over-the-counter copies of a real asset. The primary purpose of CFD Forex Brokers is to hedge risk and protect their clients from other traders on the market. They originally developed as a tax-free way to invest in the stock market and have become a popular financial product for retail traders. As prices continue to rise, CFDs make investing in the stock market a relatively simple process.

IG Markets

IG offers its customers many benefits that are important for CFD trading, including free deposit and withdrawal options, no commission charges, and fast account processing. Withdrawals can be done through a variety of methods including credit card, PayPal, and wire transfer. The minimum withdrawal amount is $150, and funds will arrive in your account in 3-5 business days. You can check the status of your withdrawal request in your account.

IG’s fees are competitive, with spreads averaging 0.75 pips. However, if you plan to trade indices or other options outside of market hours, your costs may increase. The company’s fees are clearly outlined on its website. For example, the spread on the U.S. 500 can increase from 0.4 pips during trading hours to 0.9 pips after the CME and NYSE close.


XM offers three types of accounts: standard, micro and ultra low spreads. They offer low minimum deposit requirements and relatively high leverage. They also offer a demo account. The XM Broker team is dedicated to providing the best service possible for their clients. They also have an affiliate program.

XM supports over 1,000 financial instruments and offers a mobile app for both iOS and Android. The company also has no hidden fees. Withdrawals are processed within 24 hours of the request and do not incur any additional fees. XM also waives the bank charges for international bank transfers, as long as the withdrawal is for more than $200.


One of the best CFD forex brokers for beginners is eToro. It’s relatively easy to use and has a social networking system that helps users to connect with other traders. One downside of this broker is that it requires you to use US dollars as your account currency. While other currencies may offer lower trading commissions, foreign currency accounts usually have higher exchange rates and may lose value if the exchange rate is in your favor. In addition, eToro does not charge any commissions on deposits or withdrawals.

eToro was one of the first to introduce social trading. Similar to Facebook, it allows you to follow other traders and chat with them. It also allows you to check on their trading performance. Many other brokers have similar features, but eToro continues to lead the way.


Plus500 is a regulated forex broker. It offers leverage of up to 1:30 for Forex trades. In addition, the broker offers up to 1:5 leverage for CFD trading in equities, cryptocurrencies, and ETFs. Plus500 has tight spread markups and instant trade executions. It also offers sophisticated fund protection mechanisms. The company is listed on the London Stock Exchange and is regulated by several top financial authorities.

The company offers 8 CFD products, including one dedicated to cryptocurrencies, such as the Ethereum/Bitcoin pair. It also offers a low commission on CFD trades. Traders can also benefit from Plus500’s educational materials, which include a Trader’s Guide video series, an ebook, and market news.

Traders Union

In order to choose a good CFD forex broker, it is essential to have a thorough understanding of the process. The following guide will provide some helpful tips. First, make sure that the brokerage you choose is properly licensed by a governmental or financial regulator.

The regulatory authority for CFD trading websites in the UK is the Financial Conduct Authority. However, many other CFD trading websites are not regulated as rigorously. A regulated CFD broker is important because it protects consumers from fraud and other risks. It also protects the market by ensuring that the financial firms provide sound services.

FP Markets

FP Markets is a CFD forex broker that offers a variety of trading accounts. A standard trading account is available with a fixed spread and commission charge of 0.01%, while an ECN account has zero spreads and a commission fee of only five cents per 100,000 units traded. The broker also offers three types of CFD accounts, with the main differences being the minimum deposit requirement and the interest rate charged for funding an account.

FP Markets offers more than 100 different trading instruments on its trading platform. Its primary asset is forex currency pairs. They offer services for over 60 forex currency pairs.

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