A contract for difference, or CFD, is a trading instrument that is widely used to track the prices of underlying assets. CFDs are generally available for a large variety of asset types and classes. This includes cryptocurrencies, forex, and even shares.
To make maximum use of CFDs, you need to employ a good, trusted broker. If you are not aware of the appropriate platform you need to get acquainted with, don’t worry, as in this article we will look at the top CFD trading platforms and learn their basics.
Interactive Brokers
This particular tool is specifically designed for investors, both beginners and experienced ones. Interactive Brokers have a huge variety of tools available for you to make use of. They offer their users apps for both desktop and mobile devices for maximum accessibility.
When a trader engages in a CFD trade, they enter into a Contract for Difference with a broker, with the ultimate goal of achieving profitability.
These apps have proven to be exceptionally similar and intuitive for several reasons, including their low commission costs, low margin rates, and tools that are capable of growing more complex as you proceed with your trading experience. It is one of the preferred apps for long-term use and maximum potential.
Forex.com
Forex.com is a widely trusted and renowned trading platform, regulated from the US to Japan to all over the Cayman Islands. The site openly offers its CFD services to non-US residents, and that too at a very affordable cost. They’re said to be one of the cheapest and most compatible trade-supporting platforms for international traders.
A few other pros and benefits of using Forex.com are that it has a low stock index CFD fee, does not charge a withdrawal fee, and has a low entrance cost. Moreover, they have a very simple procedure for setting up an account and a great platform interface, making it easy for traders to navigate. They have also made it extremely simple for users to customize analytical tools and charts.
eToro
eToro is a premium trading platform well known for trading internationally on a large scale. They might not be the best option to trade at in general, but their services are exceptional as far as CFD trading is concerned.
Their online catalog holds a vast variety of options among CFD trading tools. On top of that, they hold very minimal initial and general CFD fees, making them affordable along with premium or perhaps specialized ones.
Some of their other extraordinary features include a 24/7 market due to their wide reach and a variety of trading and funding tools. They also include an economic calendar on their platform for the ease of their users. Users are also offered a stop-loss tool to set a limit on how much they allow themselves to invest, along with a generous inactivity policy where the user’s package is not affected even if their account remains idle.
Conclusion
CFDs are an important tool used to track price movements in a market. It is extremely significant when setting up a trader’s portfolio to attract maximum investors. Interactive Brokers, Forex.com, and eToro are some of the best brokers to trade CFDs with today.
