Best CFD broker?

hkmt

Junior member
10 0
Hi Everyone

I have been investing with ISA in the last 3 years. Now I would like to take the advantage of short selling, hence decided to open a CFD account. Did a bit of research on the internet. However there are mixture of reviews for every single broker i.e. some doesn't go with the market price and try to hunt your stop losses, some doesn't let you withdraw your money etc…

Can you give me any recommendation pls?
 

paszkman

Established member
649 54
Hi Everyone

I have been investing with ISA in the last 3 years. Now I would like to take the advantage of short selling, hence decided to open a CFD account. Did a bit of research on the internet. However there are mixture of reviews for every single broker i.e. some doesn't go with the market price and try to hunt your stop losses, some doesn't let you withdraw your money etc…

Can you give me any recommendation pls?

I have been using GFT for a few months, no real problems..when you open a demo account they call you constantly trying to get you to open a live account, then when you open the live account you never hear from them again..:LOL:
but if I have had any questions, I just email them and they get back to me pretty quick..
 

gmuir

Newbie
8 0
I've used CMC markets before
they were quite good for CFD's
I change because I moved onto trading forex
 

SpreadDoctor

Well-known member
318 59
Remember this. Not all CFD providers are equal. Here is a short article which refers to the Australian CFD market however the principles are the same whichever geographical location you are in.

http://ezinearticles.com/?CFD-Providers&id=6400210

make sure you understand the differences between DMA & MM(Dealer) brokers.

If you are swing trading then you need to pay attention to ongoing costs (not just commissions) as these mount up.

good luck.

FWIW I recommend interactive brokers DMA.
 

jkane

Active member
128 1
fxcm one of safest ones
 

Davidee

Member
80 2
Hi Everyone

I have been investing with ISA in the last 3 years. Now I would like to take the advantage of short selling, hence decided to open a CFD account. Did a bit of research on the internet. However there are mixture of reviews for every single broker i.e. some doesn't go with the market price and try to hunt your stop losses, some doesn't let you withdraw your money etc…

Can you give me any recommendation pls?

Firstly, I would warn you that CFD trading is not like investing in an ISA. With CFDs you could lose your entire deposit and more! CFD trading is financial speculation on future prices usually with leverage. This is very different to buying shares and having tax free dividends as is the case with an ISA.

There is no 'best' broker for CFDs as this short article on the Best CFD Brokers explains - what is good for one trader may not be so good for another. However, there are things that you should look for and things that you need to be careful with.

Look at where the broker is based and which country's authorities regulate the CFD provider. Never wire money to an unregulated broker in some 3rd world tax haven.

Also look at the costs of trading, including the costs of holding positions over night and whether you feel that you need level 2 DMA or not. If you don't use level 2 direct market access there is not much difference between CFDs and financial spread betting to be honest.
 

tar

Legendary member
10,443 1,313
SPAM

Didn't i ban him - Davidee - ? Who's the genius moderator that brought him back ? He is back spamming the boards .
 
 
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