CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
The information displayed on this page is presented on an indicative basis. It relies on the data published by brokers on their respective websites and there may be a lag in the updating of their data on this broker comparison page.
| Brokers | Year Founded | Head Office | Regulation* | Negative balance protection |
|---|---|---|---|---|
| Admiral Markets | 2001 | United Kingdom / Australia | FCA, ASIC, CySEC | o |
| AvaTrade | 2006 | Ireland | ASIC, CBFSAI, FRSA, BVI FSC, FSCA, JFSA | o |
| easyMarkets | 2001 | Cyprus | CySEC, ASIC, FSA, BVI | o |
| Eightcap | 2009 | Australia, Bahamas | ASIC, SCB | o |
| FP Markets | 2005 | Australia, Cyprus | ASIC, SySEC | |
| FxOpen | 2005 | UK / Nevis | FCA, FSPR, ASIC | |
| HF Markets | 2010 | Cyprus | CySEC, FCA, DFSA, FSCA, FSA | o |
| Pepperstone | 2010 | FCA, ASIC, CySEC, BaFin, DFSA, SCB, CMA | FCA, ASIC | o |
| Plus500 | 2008 | Israel | ASIC, FCA, CySEC | o |
| XM | 2009 2015 2017 | Cyprus Australia Belize | CySEC ASIC IFSC | o |
| XTB | 2002 | Poland / UK | FCA, KNF, CySEC, BIFSC, CNMV, DFSA, FSCA | o |
*ASIC: Australia,BaFin: Germany, BIFSC: Belize, BVI FSC: British Virgin Islands, CBFSAI: Ireland,CNMV: Spain,CMA: Kenya,CySEC: Cyprus, DFSA: Dubaï,FCA: United Kingdom, FRSA: Abu Dhabi,FSA: Seychelles, FSC: Mauritius,FSCA: South Africa,FSPR: New Zealand, IFSC: Belize, JFSA: Japan, KNF: Poland,SCB: Bahamas
| Brokers | Free demo link | STP | Islamic Accounts | Trading Contests |
|---|---|---|---|---|
| Admiral Markets | 30 Days | o | o | |
| AvaTrade | 21 Days | n | o | |
| easyMarkets | Unlimited | n | o | |
| Eightcap | Unlimited | o | n | |
| FP Markets | 30 Days | o | o | |
| FxOpen | Unlimited | o L2 | o | o |
| HF Markets | Unlimited | o | o | |
| Pepperstone | 30 Days | o | o | |
| Plus500 | Unlimited | n | o | |
| XM | Unlimited | n | o | o |
| XTB | 30 Days | o | o |
| Brokers | Platforms | Min. lot (EUR/USD) | Max. leverage (individuals) | Max. leverage (professionals) |
|---|---|---|---|---|
| Admiral Markets | MetaTrader 4 and 5 | 1000 | 30:1 | 500:1 |
| AvaTrade | MetaTrader 4 ActTrader | 1000 | 30:1 | 400:1 |
| easyMarkets | MetaTrader 4 and 5 easyMarkets | 5000 | 30:1 | 30:1 |
| Eightcap | MetaTrader 4 and 5, Webtrader, TradingView | 1000 | 500:1 | 500:1 |
| FP Markets | MetaTrader 4 and 5, IRESS, Webtrader | 1000 | 30:1 | 500:1 |
| FxOpen | MetaTrader 4 and 5 | 100 | 30:1 | 500:1 |
| HF Markets | MetaTrader 4 and 5 | 1000 | 30:1 | 1000:1 |
| Pepperstone | MetaTrader 4 and 5, TradingView, cTrader | 1000 | 30:1 | 500:1 |
| Plus500 | Plus500 | varies | 30:1 | 300:1 |
| XM | MetaTrader 4 and 5 | 1000 | 30:1 | 500:1 |
| XTB | xStation 5 | 10000 | 30:1 | 500:1 |
| Brokers | Scalping | Hedging | OCO | Trailing Stop |
|---|---|---|---|---|
| Admiral Markets | o | o | o | o |
| AvaTrade | o | o | o | o |
| easyMarkets | o | o | o | o |
| Eightcap | o | o | o | o |
| FP Markets | o | o | o | o |
| FxOpen | o | o | n | o |
| HF Markets | o | o | n | o |
| Pepperstone | o | o | o cTrader | o |
| Plus500 | n | o | n | o |
| XM | o | o | n | o |
| XTB | o | o | n | o |
| Brokers | Social Trading | MQL5 Signals | Zulutrade |
|---|---|---|---|
| Admiral Markets | o | ||
| AvaTrade | o | o | |
| easyMarkets | o | ||
| Eightcap | o | o | |
| FP Markets | o | ||
| FxOpen | o | o | o |
| HF Markets | o | o | o |
| Pepperstone | oDuplitrade, Myfxbook | o | |
| Plus500 | |||
| XM | o | ||
| XTB |
| Brokers | Autochartist | Trading Central | Free VPS |
|---|---|---|---|
| Admiral Markets | |||
| AvaTrade | |||
| easyMarkets | |||
| Eightcap | o | ||
| FP Markets | o | o | |
| FxOpen | o | ||
| HF Markets | o | o | |
| Pepperstone | o | o | |
| Plus500 | |||
| XM | o | ||
| XTB |
| Brokers | Min. Deposit | Bank | BT | CC | PP | SK | WB |
|---|---|---|---|---|---|---|---|
| Admiral Markets | 100€/$/£ | Barclays UK | o | o | o | ||
| AvaTrade | 100€/$/£ | Commerzbank Germany | o | o | o | o | o |
| easyMarkets | 100€/$/£ | Barclays UK, Ingenico Germany | o | o | o | o | |
| Eightcap | 100€/$/£ | o | o | o | o | ||
| FP Markets | 100 USD/€/AUD | Commonwealth Bank | o | o | o | o | |
| FxOpen | 1€/$/£ | Baltiku*ms, Latvia | o | o | o | o | |
| HF Markets | 50€/$/£ | Barclays UK | o | o | o | ||
| Pepperstone | 200€/$/£ | Local bank transfers | o | o | o | o | |
| Plus500 | 100€/$/£ | o | o | o | o | ||
| XM | 5€/$/£ | Barclays Cyprus | o | o | o | o | |
| XTB | 1€/$/£ | HSBC | o | o | o |
(BT: Bank Transfer) - (CC: Credit Card) - (PP: Paypal) - (SK: Skrill) - (WB: WebMoney)
| Brokers | Currency | Metals | Commodities | Crypto- currencies |
|---|---|---|---|---|
| Admiral Markets | 47 pairs | 6 | 10 | 22 |
| AvaTrade | 55 pairs | 5 | 12 | 14 |
| easyMarkets | 115 pairs | 26 | 12 | 17 |
| Eightcap | 40+ pairs | 2 | 2 | 250+ |
| FP Markets | 50 pairs | 4 | 1 | 5 |
| FxOpen | 28 pairs | 2 | 3 | 43 |
| HF Markets | 51 pairs | 2 | 3 | |
| Pepperstone | 61 pairs | 11 | 17 | 18 |
| Plus500 | 61 pairs | 3 | 12 | 13* |
| XM | 55 pairs | 2 | 8 | |
| XTB | 49 pairs | 7 | 21 | 25 |
*Plus500: Availability subject to regulation. Also, cryptocurrency trading is not available to UK retail clients.
| Brokers | Stock CFDs | Index CFDs | Funds / ETFs | Bonds |
|---|---|---|---|---|
| Admiral Markets | 4,425 | 27 | 385 | 2 |
| AvaTrade | 719 | 31 | 21 | 2 |
| easyMarkets | 15 | |||
| Eightcap | 350+ | 10 | ||
| FP Markets | 12,000 | 20 | ||
| FxOpen | 13 | |||
| HF Markets | 53 | 12 | 3 | |
| Pepperstone | 900 | 25 | 107 | |
| Plus500 | 1,810 | 23 | 80 | |
| XM | 1,000 | 18 | ||
| XTB | 1,727 | 26 | 151 | 3 |
| Forex Spreads* | EUR/USD | GBP/USD | USD/CAD | USD/JPY | Gold |
|---|---|---|---|---|---|
| Admiral Markets | ~ 0.6 | ~ 1 | ~ 1.6 | ~ 0.9 | 20 |
| AvaTrade | ~ 0.9 | ~ 1.6 | ~ 2.5 | ~ 1.6 | ~ 34 |
| easyMarkets | 1.8 | 3 | 3.5 | 2.6 | 50 |
| Eightcap* | 1 | 1 | 1 | 1 | ~ 12 |
| FP Markets | ~ 1.45 | ~ 1.85 | ~ 2.07 | ~ 1.5 | ~ 72 |
| FxOpen | ~ 1.1 | ~ 1.6 | ~ 0.8 | ~ 0.9 | ~ 35 |
| HF Markets | ~ 1.2 | ~ 1.8 | ~ 2.1 | ~ 1.7 | ~ 19 |
| Pepperstone | ~ 0.69 | ~ 0.88 | ~ 0.95 | ~ 0.25 | ~ 13 |
| Plus500 | ~ 0.6 | ~ 2 | ~ 3 | ~ 0.7 | ~ 39 |
| XM | ~ 1.7 | ~ 2.5 | ~ 2.4 | ~ 1.8 | ~ 35 |
| XTB | ~ 0.9 | ~ 2.5 | ~ 2.2 | ~ 1.8 | ~ 35 |
* With most brokers, spreads are variable. They depend on current market conditions and can change at any time.
* These are MINIMUMS as the broker does not list average spreads.
| DMA/STP Brokers | Commissions for 1 standard lot (100k) | Minimum deposit |
|---|---|---|
| Admiral Markets | interbank spreads + $3.60 to $6.00 USD | $1,000 (or equiv.) |
| Eightcap | interbank spreads + $3.50/lot or 2.25£/lot or 2.75€/lot | $100 (or equiv.) |
| FP Markets | interbank spreads + $3.50 AUD per lot | $100 AUD (or equiv.) |
| FxOpen (L2) | interbank spreads + $3 to $10 | $1,000 (or equiv.) |
| Pepperstone (Razor) | interbank spreads + $7.00 | €1 (or equiv.) |
How do I compare brokers and how do I choose a broker?
Is the broker reputable and regulated?
The most important thing to consider when choosing a broker is the company's reputation and regulation. Reputable brokers are supervised by one or more financial regulatory bodies, such as the FCA (Financial Conduct Authority) in the UK or the AMF (Autorité des Marchés Financiers) in France. This type of body aims to ensure the honesty of the broker and to protect its clients by ensuring that the company complies with the financial laws of its jurisdiction designed to protect retail traders. Regulators can also review the broker's internal procedures, handle trader complaints, and make sure that the broker keeps client funds separate from their own funds.
Depending on their jurisdiction, clients of certain brokers may also have their funds protected by compensation schemes. In the UK, for example, forex brokers must insure clients' deposits against insolvency up to £85,000 under the Financial Services Compensation Scheme. In Europe, retail traders are generally covered up to €20,000, although some countries offer more. Some brokers also offer additional insurance free of charge to cover clients if the statutory deposit insurance is deemed insufficient.
All brokers listed on this site are duly regulated by a financial regulatory agency. You can also check a broker's website to double-check the name of their regulatory authority. Their regulatory registration number should also be listed, so you can check the status of their approval to conduct business.
What are the broker's trading instruments?
Each broker offers access to markets such as currencies, stocks, indices, commodities and bonds. You can trade or invest in these stock markets via different contracts:
- CFDs (contracts for difference)
- Futures contracts (futures)
- Options (vanilla options)
- Spot trading with zero leverage
If you prefer to use your trading strategy within a specific set of markets, it makes sense to ensure that the broker offers a competitive trading service for these markets.
What are the brokerage fees?
Typically, brokers charge three different types of fees: spreads (the difference between the buy/sell price), volume commissions and swaps to hold positions overnight.
Most brokers don't charge all of these fees, and Islamic accounts typically don't come with swap rates. Still, it's a good idea to check out what the broker's fees are and make sure that they are in line with your trading style.
Does the broker offer the right type of trading platform and chart tools?
Although trading platforms enable traders to trade stocks and/or currencies, they can vary widely in terms of their features, their look and their target audience.
Trading platforms such as MetaTrader 4 and MetaTrader 5 are very popular. They offer advanced features such as automated trading and the back-testing of trading strategies using historical data.
Many platforms also offer a powerful set of charting tools, as well as the ability to add technical indicators to charts. Some platforms even allow you to create your own custom indicators if you know how to program or if you can find a third party to do it for you.
Choosing the best trading platform for your needs will largely depend on how much trading experience you have, the type of trading plan you use, and the assets you wish to trade.
For example, traders who primarily use technical analysis may want a platform with great charting capabilities and real-time data, while fundamental or news traders may prefer a platform with a high-quality financial news feed.
In general, a good way to compare trading platforms is to open several demo accounts (which use virtual money). You can then test them to determine which platform best suits your style of trading and market analysis.
Broker trade execution models
Another key consideration when comparing brokers is how well they execute traders' orders and the transparency of their execution.
For some traders, another important factor when choosing a broker is whether or not they take the other side of a trade and therefore have a conflict of interest when dealing with their clients.
Most brokers operate under one of the following four models, although some use a hybrid structure incorporating aspects of two or more models. It is useful to know how these models work so that you can choose the best broker with the execution method you prefer to use in your trading activity.
- Market maker brokers
- STP brokers
- ECN brokers
- DMA brokers
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