This article will provide an overview of the best CFD brokers in 2022. We have used a list of online brokers and created our rating, evaluated below. This includes:
- Company Information
- Payment methods
- Leverage and Admiral Markets.
First of all, we look at company information for each broker.
The best company, in our opinion, is BDSwiss since they offer a lot of payment methods, don’t need verification, and it’s straightforward to start trading. They also offer pretty good spreads (click here for a comparison table).
Regarding our view, the minor good company is Admiral Markets because of high requirements.
You will notice that many companies don’t offer trading with cryptocurrencies at the moment. It is due to their volatility and hazardous nature, but it could change in future.
Note that some brokers can also offer cryptocurrency CFDs (e.g. BDSwiss).
Another important factor for trading is payment methods. When you want to start trading, you need to deposit money on your account first to trade with it later.
The best broker regarding payment methods seems to be ETX Capital since they offer numerous ways traders can deposit funds.
The broker with the worst payment methods seems to be IG Index since they only support credit cards, bank transfers and debit cards.
All brokers are regulated by different financial authorities depending on where they are located or registered.
The best regulation regarding safety seems to be FCA (UK) since they have the strictest policies, e.g. money laundering.
The worst regulation, according to us, is NFA (USA) because no non-US citizens can trade there.
It means that only US citizens can trade there, which might not be safe enough for your standards.
You should also check if the countries you reside in are allowed to register at certain brokers or not (e.gonly US citizens are allowed to trade at NFA regulated brokers).
The best offers seem to be from Alpari (UK) since they offer a contest every month with great prizes.
The worst offers can be found at ETX Capital since they don’t offer any bonus program.
Next to promos, educational tools would like to see webinars that can help you learn more about CFDs in general and technical analysis.
Leverage and admiral markets
Leverage is another important factor when it comes to trading currencies. Leverage is a tool that enables traders to trade more significant amounts than they would typically be able to with just their deposits.
The best leverage can be found at BDSwiss and ETX Capital (up to 1:300).
On the other hand, Admiral Markets has one of the worst offers regarding high leverages (& 1:50). Spreads Another aspect that played an essential role in creating our ranking is spreads.
The lowest spreads are at BDSwiss, while the highest can be found at Admiral Markets. Note that most brokers have fixed spreads, but some offer floating spreads.
Finally, we would like to provide information about customer reviews. It’s always good to check what others think about certain brokers before signing up with them.The best offers can be found at BDSwiss, ETX Capital and IG Index.
At the same time, Admiral Markets is having probably the worst offers according to customer reviews. You should also research if the country you reside in allows you to trade with certain brokers or not (e.g. only US citizens are allowed to trade with NFA regulated brokers).
We hope that our ranking will help traders find their perfect broker who fits all their needs!
It might take some time until cryptocurrencies become fully regulated, but till then, you can invest in CFDs related to them on brokers like BDSwiss, IG Index and ETX Capital.
Also worth mentioning is that most brokers offer demo accounts that enable newbies to test their first trades without having real money at risk.