Independent comparison of the best CFD Brokers 2023

In addition to trading with the so-called Forex trading, providers for trading CFDs have been gaining popularity for several years. But which is the best broker for CFDs on the Internet? Here we did the test and compared the most famous providers with each other.

It went ActivTrades because of the large trading offer and low spreads, it stands out as a test winner.

The following overview should help you to find the best broker with the most individually suitable offer. By clicking on a logo you can go directly to the corresponding test report.

ActivTrades	Go to the test report	0,5 Pips	Go to the page
IQ Option	Go to the test report	0,0 Pips	Go to the page
Capital.com	Go to the test report	0,0 Pips	Go to the page
eToro	Go to the test report	1,0 Pips	Go to the page
Pepperstone	Go to the test report	0,0 Pips	Go to the page

Risk Warning: CFD trading is also associated with risk.

* CFDs are complex instruments and involve a high risk of losing money quickly due to leverage. Between 74% and 83.70% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

In addition to the brokers listed here, we also have our own section for CFD brokers with no margin requirement .

What offers Macdougallecology.ca ?

On Macdougallecology.ca it is primarily about informing readers about reputable providers in the areas of Forex trading, online casinos, CFD trading and many more. Our team therefore tests the best-known and most popular brokers from all these areas and shows in the extensive experience reports what is to be said about both the provider as such and the offer.

What are CFD Brokers?

In order to be able to actively trade CFDs, private investors need a provider who gives them access to the market. You can get this access through so-called Contract for Difference brokers. There is enough registration, as a result of which a deposit is required. This money can then be used to bet on different prices of very different things such as stocks, commodities, currencies and indices. Unlike stock trading, the trader does not buy shares in the DAX or any other Index but just bet on how the course behaves. These bets are usually of a short-term nature, so that the prices change visibly only in the back decimal places. In order to nevertheless be able to draw a profit from a comparatively small bet of, for example, 50 dollars, the broker provides so-called leverage. For example, a leverage of 30 :1 says that with a bet of $ 333.33 on the part of the trader, you will end up trading on the market with a whopping $ 10,000. This can quickly result in possible profits and losses.

Structure of our test reports

We have a certain basic structure for all our experience reports. This procedure is followed in each of our tests and is reflected in the end in our test reports as they are published on our pages. On the one hand, this helps us not to forget anything essential during testing, but also helps our readers to make a better comparison between the individual brokers. Our team of experts tests the following categories:

Background check

When it comes to the question of whether a particular provider is a fraud, the background check is crucial. We do this before we register with a CFD broker and try to make a profit with our deposit. Our classic check includes, among others, that we are from Macdougallecology.ca take a look at the company behind the broker. We take a close look at this and provide information and also about other products that come from the company. In our test reports, it is then mentioned, among other things, how long the company has been active, how many employees there are, where the company's headquarters are and what other interesting findings are relevant for the background check.

Another essential part of our work is to examine the brokers for applicable licenses, regulations and legal restrictions. In turn, it is crucial since when and in which country a license for the broker's work has been issued. Most of the companies are headquartered in other European countries, the majority in Cyprus. Cyprus is interesting because taxes are significantly lower there than in other EU countries. It should be noted that the brokers are then controlled and regulated by the CySEC, the financial supervisory authority based there. This, in turn, is subject to the requirements of the EU. As a result, there are no differences between the regulations of, for example, the BaFin, the FCA and CySEC. In principle, a regulation from a European country is worth no less than one from Canada. Unfortunately, there are still black sheep that do not have a license or whose regulation has not yet been issued. We would advise against registering there for the time being. With a license, a financial supervisory authority checks that everything is going right with a CFD broker.

Another important point of our background check relates to the awards that the broker may have already received in the past. Well-known sites such as Finanzen.de regularly award prizes and laurels to the CFD brokers, who distinguish themselves from the others by special things. Various awards, such as an award for customer satisfaction, are distributed. We take a look at what the broker of our test has already been awarded from the highest place in the past.

If it is appropriate, we also clearly express our concerns. This is, for example, when Binary Options Trading the case that is not very transparent and can cause high losses in a short time.

Testimonials

Another important aspect of our analysis and research is the question of how other customers perceive a particular CFD broker. To do this, we go into the depths of the World Wide Web and see what comments are already available on the given broker.

We would also like to point out once again that dissatisfied customers are generally more inclined to leave a review than those who were really satisfied with the services of a broker. This phenomenon can be found in all companies, but especially those from the Internet. For example, if a broker has received three reviews on a website and all of them are negative, it does not mean that the CFD broker is actually a scam or that the provider is dubious. There are other factors that play a role here. We try to differentiate in every evaluation of the broker's services and thereby determine what is really to be thought of the opinions.

The test of support

During our check for seriousness, we also examine everything that has to do with direct contact with the company and provider. In any case, this also includes support and customer service for us. We have therefore also dedicated a part to this part in our section of the background check. We will discuss which contact options exist with the support team of the respective broker. In addition, we name the times when employees are available. In each of our tests, we also asked a few easier and harder questions and requirements for the support team. This allows us to convince ourselves of the achievements of the employees themselves. The processing of our requests is also included in the evaluation. This includes both the quality of the response and the speed at which we were able to make contact. Another criterion is the expertise of the employees. In addition, in our opinion, support employees must be competent and friendly in order for this to be an excellent support.

Our experiences

What we have learned from the background check is briefly summarized in the experiences. This also includes our own opinions and evaluations of the respective results of our research. An overall assessment is not long in coming and shows how and where the advantages and disadvantages of the broker should be applied.

The offer of the CFD broker

The second part of our review of CFD brokers relates entirely to the overall offer. For this purpose, we have developed various categories for which we will test the broker in a structured manner.

Types of trade and trading opportunities

Most providers are not only equipped for trading CFDs alone. Instead, they also include a part for currency trading and are therefore also to be called a Forex broker. A few also have even more types of trading. In this category we will list which values are tradable.

Maximum lever

Leverage is the key tool in CFD trading. With a higher leverage, it is possible to make more profit in the end by making lower bets and deposits. However, it should be mentioned that trading CFDs is also a risk precisely because of these levers. Because just as quickly as high profits can be achieved, it is also possible to have to accept larger losses. We must therefore always look at the maximum lever in a differentiated way.

Basically, the maximum leverage with CFD brokers is 30:1. This means that with a bet per position of $ 333.33, you will end up trading on the market with $ 10,000. However, the maximum leverage diverges greatly depending on the stock, commodity or other value. The following table shows which levers apply to which underlying asset:

The reason for this lies in the price value itself: if it changes significantly within a short time and not only in one of the last decimal places, then no particularly large leverage is necessary for trading. For currencies, for example, this is different. They change their value in most cases only in the fifth or sixth decimal place, at least within, for example, 15 minutes. As a result, high leverage is necessary to generate a profit.

Depending on the CFD, the leverage may diverge. Therefore, traders should inform themselves before signing up not only about the maximum lever, but also about the individual levers for certain CFDs if they plan to trade with exactly these. In the section of the maximum lever we say what to think of the offer.

Trading software

Each broker provides its customers with its own trading software. This is designed to provide all the necessary information on the various courses in a clear and intuitive way. Usually, everyone can come to terms with the basic features of the software within a short time.

In our test, this software also plays an important role. We check to what extent the trading software corresponds to what we would expect from such a program. In addition, we also test the mobile app of a provider, if it is available. Also at this point we would like to point out once again that the use of a mobile app is not recommended for beginners. The overviews are too small to be able to make good decisions based on the courses.

Deposit and Withdrawal

By what means can deposits be made into one's own account with the broker? What deposit options are available? How long is the time until a payout is actually made and what things have to be considered? All these and some other questions are addressed in the section on deposits and withdrawals.

New customer bonus and special promotions

CFD brokers often want to lure new customers with a high deposit bonus. This is usually indicated as a percentage and indicates how much the actual deposit will be increased if it is the first deposit with this broker. However, a high deposit bonus usually comes with strict deposit conditions. That's why we took a very close look not only at the bonuses, but also at the conditions.

Minimum deposit and minimum transaction size

Newcomers and newcomers to the world of CFD trading are usually afraid to start directly with a high deposit. However, CFD brokers always have a minimum deposit, under which no deposits can be made. Due to the minimum deposit, the broker usually also determines for which type of trader the broker is actually suitable.

The minimum transaction size must also be taken into account. It determines how many dollars a position can be opened from. In conjunction with the minimum deposit, this value is also decisive for how many dollars should be deposited. In principle, we recommend starting with a capital of $ 500 and using no more than 5 percent of the total capital per position.

Educational opportunities

Most brokers for CFDs have their own area in which traders can further their education. There are not only peculiarities of the provider and the trading software explained. There are also general introductions to the world of CFD trading. Webinars and seminars are not uncommon. Many CFD brokers also provide their customers with their own eBooks, with which they can educate themselves on very different topics. The widest possible educational opportunities at the broker itself are also considered to be the basis of successful trading for us. In addition, there is also the question of whether a demo account is provided and how long it can be used free of charge.