Best Platforms to Trade CFDs in 2020 [Updated]

There is a wide array of different platforms online to use to trade CFDs, and while many platforms offer overlapping features, we’ve found that there can sometimes be a large gap between the best and worst CFD trading platforms.

We’ve analysed the CFD platforms on offer online today, and have found 3 that provide additional unique features, better performance and reliability and lower fees.

What are CFDs?

CFDs, or “contracts for difference”, are financial derivatives that provide the ability to trade on the price movement of various asset types including cryptocurrencies, indices futures and commodities futures.

CFDs provide great flexibility to traders and investors because they are able to profitably speculate on price actions without having the conditions and obligations of actually owning the asset itself.

The price of any CFD is devised by using the price of the underlying asset, and the price of the CFD tracks the price of the asset that it represents.

Best Platforms to Trade CFDs

PrimeXBT

PrimeXBT leads the pack in 2020 following explosive growth throughout 2019, and today CFDs for the world’s best stock indices, as well as forex and cryptocurrencies, can be found on the platform.

Leverage of up to 500x is available on PrimeXBT, and near-instantaneous trade executions as well as high liquidity is provided by one of the more professional trading platforms online today.

Fees on PrimeXBT are set at just 0.05% as a flat rate, with payments being able to be made via a range of different methods including using credit cards and funding accounts using Bitcoin.

Traders can create their own peer-to-peer investment funds using the PrimeXBT coinvesting system, where successful traders can take investment for other traders can build a bespoke fund around the assets that they like to trade.

eToro

eToro is one of the largest social trading platforms online, allowing users to share trading strategies and to profit from their own successful trades.

“Social trading” is a similar concept to PrimeXBT’s “coinvesting” mechanism, although without the ability to generate as much revenue or share information as easily.

eToro was launched in 2006 in Tel Aviv, Israel, and today remains one of the leading financial trading platforms in the world.

IG.com

IG.com specializes in providing CFDs, and is one of the oldest online trading platforms in existence today having been first launched in 1974.

The platforms intuitive interface makes it easy to use, and one of the main features that IG is known for is providing high-quality and responsive support for clients.

Unfortunately, US citizens cannot access any assets classes other than forex, but other than this, and the fact that it’s fee schedule is quite a bit higher than other platforms, IG generally provides an excellent service.

In Conclusion

CFD trading can be highly lucrative, but it depends on many factors including the calibre of the trading platform that is used.

These platforms provide more value for traders than just the ability to buy and sell CFDs, and within the market they stand out above the rest.