Traders Union’s leading trading experts unveiled the Best CFD Brokers in 2023 after painstaking analysis from several sources.
CFD or Contract for Difference is among the most important financial gauges to a trader’s portfolio.
Adept traders determine their profit and losses by weighing the price difference between entering and exiting a contract. Then, brokers would pay these gaps on whether or not traders make a profit. The latter has to pay the former the price difference if it’s a loss.
However, this process seems to be very complicated for CFD trading beginners. Thus, it is crucial to carefully choose a CFD broker to make trading a smooth procedure.
Traders Union’s CFD brokers list shows that RoboForex, PocketOption, Tickmill, Exness, and IC Markets are on the lead.
RoboForex is the top choice for beginner traders and experienced investors. It has been offering trading services globally since 2009 and specializes in trading automation solutions. Traders love that this broker provides a 0% fee on all deposits and withdrawals.
Also, it guarantees reliability as it holds an international license from FSC Belize, which is one of the most reputable regulators. In addition, RoboForex is a member of The Financial Commission with an assured compensation fund of 20,000 euros.
PocketOption hits the second spot and is declared the leading copy trading service. Launched in 2017, the broker provides clients access to trade currency pairs, indices, stocks, cryptocurrencies, and commodities. The best thing about it is that clients obtain avenues to many bonus offers and could join a profitable affiliate scheme.
By the numbers, this brokerage platform has more than 100 trading assets and allows deposits in cryptocurrency. It also has over 50 payment methods for depositing and withdrawing funds, as well as more than 70 successful signals from professional traders.
Tickmill secured a spot on Traders Union’s list with its low spreads and comfortable trading conditions. Besides, this brokerage company provides users a spread from 0.1 pip for the EUR/USD currency pair and offers a minimum deposit of $100.
Experts recommend this platform for experienced traders who opt for both manual and automated trading. Besides, this broker is fitted for trading the news, as well as scalping and calm intraday trading.
Traders Union expert also speak favorably of Exness for its broad spectrum of trading instruments alongside innovation and reliability. It is declared as the best brokerage entity for both active and passive investment. Beginner and expert traders love that it only features a minimum deposit of $1.
Moreover, this platform boasts of providing clients with a range of accounts that depend on their needs. The brokerage firm, founded in 2008, was hailed as the Fastest Trader Execution during the Traders Union Awards 2022.
IC Markets, the last entry on Traders Union’s best CFD brokers list, is considered best for scalping strategies. This brokerage company is deemed the world’s largest Forex broker by trading volume. It has among the lowest spreads from 0.1 pips. Besides, the entity’s lowest fees only start from $3 per lot on the market.
Auto trading through Myfxbook and VPS server are IC Markets’ top useful services. The former copies transactions of successful traders by linking to their trading scheme, and the latter is a virtual dedicated server for 24 tradings that can be used even when without an internet connection.
These top five CFD brokers could help traders, most especially beginners, in managing their portfolios and winning their trading game. Yet, the Traders Union emphasizes that due diligence must be practiced in every transaction.