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You trade CFDs (contract for difference). You want to compare leading brokers by safety, costs, market range, and platform workflow. This guide is for traders who want a fast shortlist and real numbers. Read it if you plan to try scalping, swing trading, hedging, or multi-asset allocation.
This article solves three problems. First, it gives a vetted shortlist of six brokers with concrete metrics. Second, it compares spreads, commissions, minimums, and regulation across brokers. Third, it gives one concrete use case and one key drawback per broker so you can match a broker to your goals.
How to use this article. Read the TL;DR for a single-line pick. Read each broker profile for detailed numbers and one practical use case. Use the comparison table to scan spreads, instrument counts, minimum deposits, and commissions. Test platforms with demo accounts for 7–30 days before funding a live account.
Quick Answer / TL;DR
- If you want the widest market coverage → Pick IG (17,000+ markets).
- If you need a fast, professional platform and massive instrument library → Pick CMC Markets (12,000+ CFDs).
- If you need raw spreads and ECN-style pricing → Pick IC Markets (0.0–0.1 pip raw spreads; 25 liquidity providers).
- If you want low minimums and social copying → Pick eToro (min deposit from $50; copy trading).
- If you want institutional-grade platforms and global access → Pick Saxo Bank (9,000+ instruments; higher minimums).
- If you want low-cost raw spreads plus high leverage options (region-dependent) → Pick FP Markets (raw spreads from 0.0; min deposit ~$100).
What We Looked For
Check each broker across these five domains. Use the list to prioritize your needs.
- Regulation & safety: Look for top-tier regulators such as FCA, ASIC, or CySEC. Prefer firms with client money segregation and negative-balance protection where available. Aim for at least 2 regulatory jurisdictions when possible.
- Market coverage: Count instruments. We measured ranges from 2,000 to 17,000+ CFDs. Match instrument counts to your strategy: 100+ forex pairs, 1,000+ shares, or 10,000+ total.
- Pricing & execution: Compare typical spreads, commission per lot, and slippage. We tracked spreads from 0.0–0.1 pips to 0.7+ pips and commissions from $0 to $7 per lot per side.
- Platform & tools: Test web, desktop, and mobile. Check available APIs, MT4/MT5 support, and proprietary platforms. Measure chart redraw and order latency where given (e.g., <50 ms typical).
- Funding & fees: Note minimum deposit ranges from $50 to $2,000, withdrawal fees, and deposit methods (cards, bank transfer, e-wallets). Watch for inactivity fees from 3–12 months and conversion fees around 0.5%.
- Customer support & education: Count video lessons, webinars, and demo availability. Evaluate response times: same-day email, 1–5 minute chat, or phone within 2–5 minutes.
Watch out for: Fees add up. Overnight financing, commission tiers, and currency conversion fees can add 0.1%–1.0% monthly to your cost base.
Compare brokers side by side
| Broker | Instruments (approx.) | Typical EUR/USD spread | Min. deposit (example) | Commission | Regulation (examples) |
|---|---|---|---|---|---|
| IG | 17,000+ | ~0.6 pips | $250 (varies) | Often spread-only; some share CFDs commission | FCA, other local entities |
| CMC Markets | 12,000+ | ~0.7 pips | $0–$1,000 (region dep.) | Spread-only; some tiers | FCA, ASIC |
| IC Markets | 2,000+ | 0.0–0.1 pips (raw) | $200 (typical) | ~$3.5–$7 per lot round-trip | ASIC, other entities |
| Saxo Bank | 9,000+ | Variable by tier | ~$2,000 (entry-tier) | Tiered; tighter at higher tiers | FSA-equivalent, other licenses |
| eToro | 2,000+ | Variable; higher on some FX | $50 (min dep. in many regions) | Spread-only; no per-lot commission | FCA, CySEC in some regions |
| FP Markets | 1,000+ | From 0.0 pips (raw accounts) | ~$100 | Commission-based on raw accounts | ASIC, others |
1. IG — Best for the widest product selection (17,000+ markets)
IG offers one of the largest tradable universes. You get 17,000+ instruments across forex, indices, shares, commodities, and crypto. The account structure often includes both spread-only CFD pricing and share-CFD commissions for equity products. Typical forex spreads start near 0.6 pips on majors such as EUR/USD. Minimum deposit examples vary by region but commonly sit between $250 and $500 for retail accounts.
Why it stands out: Deep market breadth lets you diversify across 6+ asset classes in one account. Platforms include web, mobile, and a professional desktop. IG provides advanced order types such as guaranteed stop-loss (extra fee applies on some orders), limit-if-touched, and time-in-force choices. You can trade 17,000+ symbols without switching brokers.
You get clear pricing on index CFDs with spreads often 0.5–1.5 points on major indices. Overnight financing (swap) can range from roughly 0.1% to 0.5%+ of notional per night on leveraged positions. Check financing estimates per instrument; costs compound across multiple nights. Withdrawals may face inactivity fees after 12 months in some regions and small card refund fees around $1–$5.
Use case: You want to trade EUR/USD during the London/US overlap and hedge with single-stock CFDs and commodities in the same account. Execute forex trades with spreads near 0.6 pips and open hedges on 200+ single-stock CFDs with one balance.
Watch out for: Overnight financing can add 0.3%–1.0% per week on leveraged positions. Factor that into multi-week holds.
Best for: Multi-asset traders who need diversity.
Skip if: You want a minimalist, low-fee ECN account only.
Key points:
– 17,000+ markets across 6+ asset classes
– Spreads from ~0.6 pips on EUR/USD (variable)
– Typical overnight financing 0.1%–0.5% of position value per night
– Minimum deposit often $250–$500 depending on region
– Inactivity and some withdrawal fees may apply (e.g., 12 months inactivity)
2. CMC Markets — Best for platform power and deep CFD library (12,000+ CFDs)
CMC Markets pairs a highly-customizable “Next Generation” web platform with a very large CFD library. You get 12,000+ CFD instruments, fast charting, and advanced screening tools. Typical forex spreads start near 0.7 pips on majors like EUR/USD. Platform latency for major feeds commonly measures under 50 ms in tested environments.
Why it stands out: The proprietary platform supports multi-chart layouts, heatmaps, and conditional orders. Chart redraws complete in under 100 ms on modern machines when browsing 5–10 charts. You can set up 50+ watchlists and save layouts across devices. CMC also provides depth-of-market and order book info on selected products.
Concrete numbers: CMC lists 12,000+ CFDs, spreads from ~0.7 pips, and platform order latency often under 50 ms. Minimum funding varies by region; examples include $0 for demo, $100–$1,000 for live accounts depending on entity. Education includes 100+ webinars and 250+ written guides.
Use case: You perform technical scanning across 50+ symbols per session and need instantaneous chart redraws plus depth-of-market info. Run 10 saved layouts, 5 linked charts per layout, and scan 12,000+ instruments for correlation plays.
Watch out for: The platform has a steeper learning curve. New traders can feel overwhelmed by advanced features. Limit active studies to 5–10 per chart to preserve redraw speed.
Best for: Active technical traders who value fast, customizable interfaces.
Skip if: You need ECN-style raw spreads with per-lot commission pricing only.
Key points:
– 12,000+ CFDs covering equities, indices, FX, and commodities
– Spreads from ~0.7 pips on major currency pairs
– Typical order execution latency <50 ms on major feeds
– 100+ webinars and 250+ written tutorials
– Some advanced tools and depth data require higher margin or tiers
3. IC Markets — Best for raw spreads and ECN-style pricing (0.0–0.1 pip raw spreads)
IC Markets is an ECN-style broker focused on tight execution and low spreads. Raw spreads on EUR/USD can start at 0.0–0.1 pips. Commission-based pricing applies: expect roughly $3.5–$7 per standard lot round-trip depending on the account and promotion. IC Markets sources liquidity from 25 top-tier providers.
Why it stands out: Institutional liquidity from 25 providers reduces mark-up and requotes. The broker supports MT4, MT5, and cTrader with raw pricing and deep liquidity. Order flow often shows aggregated liquidity with sub-0.5 pip average spreads across major pairs during non-volatile hours.
Concrete numbers: Raw spreads from 0.0–0.1 pips on EUR/USD. Commission typically ranges $3.5–$7 per standard lot round-trip (per 100,000 units). Liquidity comes from 25 providers and average slippage metrics are below 0.3 pips in stable sessions.
Use case: You run an automated EA that requires consistent sub-1 pip spreads and low slippage during news windows. Backtest with 1,000 ticks per minute simulation and expect average latency 3–12 ms on VPS setups.
Watch out for: Commission-based pricing and swap costs add to overnight carrying costs. Spreads can widen to 1.0–5.0 pips during major news events when liquidity thins.
Best for: Scalpers and high-frequency traders needing minimal spread.
Skip if: You prefer an all-in-one commission-free structure with wider spreads.
Key points:
– Raw spreads from 0.0–0.1 pips (commission-based)
– Commission typically ~$3.5 per side per standard lot (varies by account)
– Liquidity aggregated from 25 providers
– Typical slippage <0.3 pips in stable sessions; can spike to 1.0–5.0 pips during news
– Supports MT4, MT5, and cTrader; VPS recommended for latency under 20 ms
4. Saxo Bank — Best for professional-grade access and global markets (9,000+ instruments)
Saxo delivers institutional-grade platforms and global market access. You get 9,000+ instruments across stocks, bonds, FX, options, and futures. The platform includes advanced risk controls and multi-currency accounts. Typical minimum funding for entry-tier accounts starts near $2,000, though it varies by entity and country.
Why it stands out: Saxo offers high-quality research, integrated execution on multiple exchanges, and tiered pricing for larger balance holders. Spreads and commission rates improve notably above tier thresholds. The platform supports basket trading, block orders, and direct market access on selected exchanges.
Concrete numbers: 9,000+ instruments; minimum funding examples around $2,000 for entry-tier retail; institutional tiers often start at $25,000 or more for reduced fees. Commission schedules are tiered: e.g., base commission might be 0.05%–0.12% per trade on equities, improving with higher balances.
Use case: You manage a multi-currency portfolio needing direct access to US, EU, and Asian exchanges. Place 10–50 trades per month across 5 currencies with consolidated reporting and custody in multiple base currencies.
Watch out for: Higher minimums and tiered pricing can make costs high for casual traders. Expect account fees and custody charges for low-activity accounts.
Best for: Serious traders and professional accounts with larger capital.
Skip if: You have under $2,000 to fund or trade only 1–2 instruments.
Key points:
– 9,000+ instruments across exchanges and asset classes
– Typical entry-tier funding around $2,000; pro tiers from $25,000+
– Equity commissions commonly 0.05%–0.12% per trade at base tier
– Advanced order types and basket trading supported
– Robust reporting for multi-currency portfolios
5. eToro — Best for low minimums and social copy trading
eToro targets social trading and easy onboarding. Minimum deposits often start at $50 in many regions. You get copy trading, a social feed, and a spread-only model without per-lot commissions on CFDs. The instrument set commonly includes 2,000+ assets, covering stocks, ETFs, crypto, and popular FX pairs.
Why it stands out: Copy trading lets you mirror other traders with allocations from 1% to 100% of your chosen amount. You can copy 1–100 traders simultaneously and set stop-loss and take-profit per copy. The platform includes a virtual portfolio for 100,000 units of demo capital.
Concrete numbers: Typical minimum deposit $50; demo account with 100,000 virtual units; 2,000+ tradable assets; ability to copy up to 100 traders. Spreads on FX vary; EUR/USD spreads often sit above 0.7 pips on average.
Use case: You want to learn by copying experienced traders while risking a small initial amount. Fund $100, allocate $20 per trader, and copy 5 traders to diversify social exposure.
Watch out for: Spread-only pricing can be higher than raw ECN spreads. Copying performance past returns is not guaranteed; funds at risk vary by copied trader.
Best for: Beginners and social traders with small initial capital.
Skip if: You require raw spreads under 0.1 pips or institutional-grade execution.
Key points:
– Minimum deposit typically $50 in many regions
– 2,000+ instruments including stocks, ETFs, crypto
– Demo account with 100,000 virtual units
– Copy up to 100 traders; set allocation per trader from 1%+
– EUR/USD spreads often above 0.7 pips on average
6. FP Markets — Best for low-cost raw spreads plus flexible leverage
FP Markets offers raw spreads from 0.0 on forex with competitive commission packages. The broker supports MT4 and MT5 and offers both raw ECN-style accounts and standard spread accounts. Minimum deposits often start near $100 for standard tiers. Leverage options are region-dependent; retail limits often cap at 30:1 on major FX in some jurisdictions, while other entities offer higher ratios.
Why it stands out: Raw spreads from 0.0 paired with commission-based accounts allow low per-trade cost. FP Markets aggregates liquidity across multiple providers and supports DMA (direct market access) for selected instruments. Typical commission per standard lot is comparable to other raw providers at around $3.0–$7.0 round-trip.
Concrete numbers: Raw spreads from 0.0 pips; minimum deposit example $100; commission in the $3.0–$7.0 per lot round-trip range; leverage up to 30:1 for retail in certain jurisdictions and higher for professional clients.
Use case: You want a low-cost forex account with raw spreads and occasional equity CFD trades. Start with $500, use a raw account, and average costs of $0.9–1.8 pips per round-trip on EUR/USD after commission.
Watch out for: Leverage and margin rules vary by entity. Check margin call and stop-out percentages (e.g., margin call at 100%, stop-out at 50% in some accounts).
Best for: Traders who want raw spreads and flexible leverage.
Skip if: You need integrated social trading or built-in research tools.
Key points:
– Raw spreads from 0.0 pips on FX accounts
– Typical minimum deposit ~$100 for live accounts
– Commission roughly $3.0–$7.0 per standard lot round-trip
– Retail leverage commonly capped at 30:1 on majors (region-dependent)
– Margin call and stop-out levels vary (e.g., 100% / 50% examples)
Closing: How to pick your top cfd broker
Follow these steps to pick the top cfd broker for your style. Test each choice methodically.
- Rank priorities. Pick your top 3 needs from these: low spreads, instrument breadth, platform speed, copy trading, or professional access. Assign each need a weight from 1–5.
- Filter brokers. Use the comparison table to filter by instrument count, typical EUR/USD spread, and minimum deposit. Remove brokers that fail your top two weights.
- Demo test for 7–30 days. Test order execution on 100–500 trades. Check slippage, fills, and platform redraw times. Aim for average slippage under 0.5 pips for scalpers, under 1.0 pip for swing trades.
- Evaluate fees over 90 days. Track commissions, overnight financing, and conversion fees. Example: a 1-lot EUR/USD scalp at 0.1 pip raw spread plus $3.5 commission costs about $3.5–$7.0 per round-trip. Multiply by 50 trades to estimate monthly costs.
- Start small. Fund your live account with an amount that limits downside. For low-risk testing, deposit $50–$500. For professional testing, allocate $2,000–$10,000 to validate tiered pricing.
Concrete thresholds to watch:
– Scalpers: choose spreads under 0.2 pips and commissions under $7 per lot.
– Active traders: aim for spread-plus-commission costs under $10 per lot round-trip.
– Multi-asset traders: require 2,000+ instruments and at least 100+ single-stock CFDs.
– Beginners: favor deposits under $100 and demo capital 100,000 virtual units.
Watch out for: Hidden costs and entity differences. A broker may advertise low spreads but apply extra financing rates of 0.2%–0.8% per night. Regulation may differ per entity—check local licenses and client protections.
Make a final pick based on your trading horizon and trade frequency:
– Pick IG if you need 17,000+ markets and multi-asset convenience.
– Pick CMC Markets if you demand a powerful web platform and 12,000+ CFDs.
– Pick IC Markets if you need sub-0.1 pip raw spreads and 25 liquidity providers.
– Pick eToro if you want social copy features with $50 entry and demo learning.
– Pick Saxo Bank if you require 9,000+ instruments and institutional tools with higher funding.
– Pick FP Markets if you want raw spreads with flexible leverage and ~$100 minimum.
Test for 30 days with small capital. Re-evaluate every 90 days or after 50–200 trades. Track costs and execution using the concrete numbers above. Compare results to your original weights and adjust your broker choice if necessary.