Contracts for Differences (CFDs) are a type of financial instrument crucial in traders’ portfolios that allows them to speculate on an asset’s price movements without actually owning them.
Recently, Traders Union (TU) released its top five CFD trading platforms in 2023 to aid traders in expanding their assets and profits.
RoboForex dominated the peak spot with its latest trading products, unique data transmission development, and trading functionality. Traders Union’s analysis shows that beginner traders choose this broker mainly for its reliability and trading conditions.
Adding to its top quality is a low minimum deposit of only $10, which is enough to interpret the trading specifics and learn how the Forex market works.
Among its best offers to clients is the opportunity to invest in ETFs or Exchange-Traded Funds via its propriety innovative trading platform called R Stocks Trader. Moreover, an accessible constructor is built into RoboForex, allowing newcomers to make their own trading robots without programming skills.
Pocket Option, another trusted broker, offers a browser platform for binary options and all versions of MT5 for Forex trading.
Trader’s profit for binary options depends on their chosen asset, time frame, and current market sentiment. If their forecast is correct, the payout ranges from 15% to 92%. Meanwhile, traders can also open a demo or live account on MT5 upon registration. An opened account must be linked after installing the platform, and leverage would be set in the User Account for the entire account balance.
Tickmill is another top recommendation from the Traders Union’s experts, providing traders with a variety of educational resources that would permit them to be familiar with the Forex market and master CFD trading.
This broker captivates traders with low spreads, comfortable trading conditions, and a minimum deposit of $100. Besides, it executes market orders at the speed of light, particularly at 200 ms.
Exness also secures a spot on the list with its leading position in the Forex brokers ratings in New Zealand, South Africa, and the European Union.
This brokerage company boasts a monthly turnover of trade transactions worth $325 billion, over 414,000 active clients in 131 countries, and more than 20 years of service in the EU market.
Besides, Exness is famous for combining stability, technology, and a complete set of tools for traders. It offers different types of accounts depending on the traders’ needs, including novice, standard, and professional.
TU experts noted that IC Markets, with 8.92/10 user satisfaction, is a favorite among beginner traders, scalping enthusiasts, and automated trading lovers. Its order execution speed is considered one of the highest worldwide.
Among the brokerage entity’s competitive advantages is the utilization of modern technologies in improving its customer service quality and most convenient trading conditions. Besides, its clients could use its most updated tools to assist in finding out the depth of the market, momentary spread indicators and close orders using a personal template.
In addition, IC Markets traders don’t have to use computers all the time in carrying out their trading decisions because it can also be done from mobile devices.
These CFD trading platforms, among many others, are the backbone of online trading, which provides traders an avenue to diverse financial markets. Yet, the selection of a CFD broker needs careful consideration, especially for newcomers.
Thus, every trader must be vigilant in evaluating their chosen broker and must spend time on further research.
(Above mentioned article is consumer connect initiative. This article is a paid publication and does not have journalistic/editorial involvement of DMCL, and DMCL claims no responsibility whatsoever)
