CFD Brokers List: Australian, UK And European CFD Providers
There are a growing and changing list of CFD broker or provider with costs that are becoming more competitive as the market evolves.
After all, your CFD brokerage is one of the xpenses with trading.
But your brokerage is not the only cost of trading.
When looking for a CFD broker or provider, have a look at these 3 factors that affect your CFD provider.
Here are the factors to consider:
1. The CFD provider's costs and features when it comes to CFD trading:
a) Their CFD brokerage or commission rate: minimum commission ( as a dollar value eg $10) and percentage (eg 0.1% of trade size).
Note that commissions are usually quoted for each way of a trade, ie commission in and commission out.
You may need to also consider the interest payments for long positions held overnight.
b) The margins required and leverage available - does not mean you have to use all of it.
c) Order types: stop losses, stop entries, limit entries, limit exits, guaranteed stop losses if required
d) Monthly fees for data, eg fees for ASX data, US data (for each exchange), etc
e) Any platform fees, eg WebIress fees, etc
f) Their trading platforms and demo accounts - you can check their demo accounts to see if their platforms does what that you need them to do, that you know how to see your open positions, and open orders etc.
To read more about these details including slippage, see our main page about CFD broker or CFD provider.
2. The CFD broker's stability and reputation as a CFD provider company.
It's a good idea to do some due diligence about the company's stability and their reputation, as well as the fact that they're located in countries that will be held accountable to solid rules and regulations.
Many providers have a long history, while some others may be newer.
Do your own research and see the history of these companies.
3. Call the CFD broker yourself if you wish, to get a feel of how they work and their helpfulness.
If you wish to do a check, you can always call the company to make sure that you're happy with their customer service.
Most trade online without needing to deal with the dealing desk, but if you need a live dealing desk to ask for help, check to see if this is available and what hours.
You can also ask them any questions you may have about their services.
Do CFD Traders Use Than One CFD Broker or Provider?
Many traders use a single CFD broker, but some use more than one market maker to use the features available in both.
For example, some traders use the low commission on one provider, but to use another provider that has a larger list of shortable stock CFDs when those stocks are not shortable with their first provider.
Many CFD providers now offer a large range of markets that can be traded as CFDs, so one broker may offer all the stock or share CFDs, or index CFDs that you want to trade.
Some traders who trade more than one market, may use one provider for CFDs of stocks from a certain country or exchange, and another provider for CFDs from another country or exchange.
List Of CFD Providers
In Australia and the UK, the list of CFD providers have grown and changed over the past few years in particular.
In the very beginning there was commission free trading in Australia, but now commissions per trade are quite standard for share CFDs.
You also have a choice now of DMA (Direct Market Access) or non DMA CFDs.
DMA means that the CFD price exactly reflects the underlying market price. But this is only one aspect of your trading. Look at the overall picture including the commissions, the leverage available, that the range of CFDs you want to trade are available, and the stability or reputation of the company.
To read more about types of CFDs, see this page on DMA vs Market Maker CFDs to find out more.
All trading involves a high risk of financial loss, and the information on this site is for general information purposes only and is not financial advice in any form. Seek your own financial advice before taking any action.
All forms of trading involves risk of financial loss.
Also note that CFD trading is not legally permitted in some countries.
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