The best of the 4 best CFD brokers

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Late-4

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Hello,

This thread is a continuation to another thread I started "Selection between SB and CFD", but since the selection is already made (CFD) and the real question comes down to the broker selection I decided to start a new thread. If its not ok, then I believe this will be moved to continue the original thread? However I believe I get more attention with more appropriate title.

Here is a link to the original thread: http://www.trade2win.com/boards/first-steps/176526-selection-between-sb-cfd.html

Okay, I have made some research and as a result I pointed out 4 brokers of which I can't decide from.

1. Interactive Brokers (IB)

Interactive Brokers Reviews
Interactive Brokers

+ Lots of good reviews
+ One of the biggest CFD brokers in the world, I think that is enough said
+ Good liquidity, tight spreads
+ Ranked #1 at Barrons
- The broker is American, and since I trade from Europe (Finland) I'd more appreciate an European broker (time issues etc...)
- Trading platform often reviewed as complicated / confusing
- MetaTrader4 not available

2. IG

IG (CFDs) Reviews
IG | IG Index and IG Markets

+ Lots of good reviews also (but bad ones too)
+ One of the biggest CFD brokers in Europe (at least largest in the UK in 2012)
+ Good liquidity and spreads
+ IGs own trading platform that has won many awards etc
+ HQ in Europe (London)
- MetaTrader4 not available (coming soon)
- Those individual bad reviews

3. CMC Markets

CMC Markets Reviews
Access the world markets

+ Another large CFD broker in Europe (I think CMC and IG are the 2 biggest in UK?)
+ HQ in London
+ Good liquidity and spreads
+ Their new platform is mostly well reviewed
- Only their own platform available
- Quite many bad reviews

4. InterTrader (White label company of LCG)

InterTrader.com Reviews
http://www.trade2win.com/boards/broker-reviews/132164-intertrader-com-2.html
http://www.intertrader.com/

+ Very much positive reviews in this forum (check the second link above)
+ Works under the name of a big company (LondonCapitalGrop), which guarantees a good liquidity
+ MetaTrader4 platform available
+ HQ in London
- Significantly smaller broker than the ones above
- Very strong advertising with banners and stuff, welcome bonuses etc... This is something that makes me doubt

One options is to demo trade all these with a couple of months and see which one I like to most.

Ideas, opinions, views?

Thx,
Late-4
 
Last edited:
Hi,

I've decided to go for IG. The final decicion I made was between IG and CMC. There seemed to be a lot of "ig vs cmc" -type of conversation if you google it, and in the end I think IG was slightly more preferred generally. Good things with IG is it is a DMA/OTC broker, while CMC markets is a market maker. Also IG is listed in the UK index itself and has been around for a long time (since 1974). A shame is that I think CMC website layout was much better than IGs.

To put it simply: IGs huge size and popularity kind of guarantees its quality for me. There might be a less popular broker somewhere with tighter spreads, smaller comissions, wider range of markets etc, but its always a risk of turning out to be waste time not to mention money.

So next I'm going to demo trade with IGs platform which Im not familiar with. At the same time I'll continue my trading with my old broker and see if I decide to go fully with IG in the future. Lets see, I'll write a review!

After all this thread wasnt so great help, but rather a 'note to self' kinda thing. I think this thread can be removed now.

Late-4
 
(IMO) the above are all fairly awful

you may need to do more due diligence
and don't risk too much

IB maybe the better of the bunch - although i have nt tried them,
but also have nt seen very glowing reports for them
make sure you read all the broker reviews for the above that you can (and on this site)

the others i have tried
avoid CMC and intertrader like the plague
 
WR1 said:
(IMO) the above are all fairly awful

you may need to do more due diligence
and don't risk too much

IB maybe the better of the bunch - although i have nt tried them,
but also have nt seen very glowing reports for them
make sure you read all the broker reviews for the above that you can (and on this site)

the others i have tried
avoid CMC and intertrader like the plague
Click to expand...

Hi WR1, thanks for the reply!

Yes, I found very good reviews about IB too, but the thing is it is American. I like my broker to have the same working hours as I do. This is just more practical.

IG in the other hand has been reviewed a lot and most of the bad reviews are something like "I dont like that or that about the platform" while the platform has won many prizes and some review it 10/10. So I guess there is always some things that suit better for someones taste. Also some bad reviews said the customer service being unpolite, while majority review it very polite. It is a big company which has big service staff, someone just might have a bad day. In the reviews I couldnt find any bad ones about any serious issues that would scare me off.

CMC markets and InterTrader are too very popular, but I dont like like that strong marketing with thousands of banners and stuff. I am pretty sure these arent snakeoil salesmen, but for someone they may look like ones.

Your opinions about IG? Any suggestions about other brokers?

I only got 1 condition, the broker has to be fairly popular/big, that has been reviewed a lot. I'm not necessarily looking for tightest spreads in the world, rather a broker that I can trust with my money :)

Thanks,
Late-4
 
For purely Forex trading, Dukascopy are probably the best. For CFDs look at DF Markets.
 
Hi Late-4,

your research wasn`t thorough - at least with regards to IB:

IB US don`t offer CFDs and they won`t let you open an account. Instead you will be forced to open an account with IB UK. Best of both worlds.

If 10K USD minimum is a bit steep you might just go via one of their (german/dutch) introducing brokers like captraderDOTcom or lynxbroker .... all of which as for 5K USD opening balance only. Account can be redomiciled to IB later without any hassle.

Furthermore saxo, gftuk and their IBs (hms-lux, whexpert and fxflat) are said to be excellent fx AND wide range of CFDs.

Regards
 
I'd stay away from brokers who heavily promote their bonuses. An acquaintance of mine works for a brokerage company and he tells me that brokers who offers bonuses are very likely to operate a 'B Book' ie, execute trades in-house and with the latest risk management tools available, its quite easy for a software to profile your trades (depending on your trading volume) and put you into the either high risk (meaning profitable trader, thus passing you onto an STP) or low risk (meaning, losing trader thus putting your trades through to the in-house dealer).

Sometimes big doesn't necessarily translate to good (or even best). Take FXCM for example, their spreads and re-quotes (atleast on MT4) is horrible. I trade with a lesser known broker (on MT4) for quite a while and if I were to compare FXCM would rank in the -ve.

As for reviews, i'd take it with a pinch of salt considering most of the reviews are by IB's or affiliates of the company.

For CFD brokers, at least for me, its their spreads (and/or commissions) that matter the most along with their overnight swap policies. If you are a swing trader, then be sure to check the swaps as a typical 'Long' trade attracts -ve swaps which at the end of your trade could eat into a considerable chunk of profits.

Just my 2 cents.
 
Re:shares /CFDs sales inquiry

Dear Sir/Madam,
I would like to know the offer/price for your,
1. company shares

2.Contracts for Difference (CFDs)CFDs

My clients/project from the D.R.Congo would like to purchase/invest in
your company very soon for their new investment project.

They want to give you a quantity of gold nuggets that is equivalent to the
value of the shares/CFDs they would like to buy from your company, if you are
interested in the deal please let me know so that i can arrange to meet
face to face
with me and my clients in Kampala, Uganda, where we can
have safe business transaction and also view the gold nuggets. 800 kilos
are there in safe custody under the safe keeping company.

Kindly send details and specifications of the available offers.
Hoping for your response.

Regards,



OCHAN JOHN
Assistant operations manager
ALAMA PROCUREMENT & LOGISTICS (U) LIMITED
ADDRESS;

PLOT 6/7 KATONGA ROAD

NAKASERO KAMPALA UGANDA.

P.O.BOX 3457 KAMPALA MAIN OFFICE

TEL: +256 414 695 785

FAX:+ 256 414 695 785
MOBILE:+256 771 864 971
skype: ochano3
 
Re:shares /CFDs sales inquiry

Dear Sir/Madam,
I would like to know the offer/price for your,
1. company shares

2.Contracts for Difference (CFDs)CFDs

My clients/project from the D.R.Congo would like to purchase/invest in
your company very soon for their new investment project.

They want to give you a quantity of gold nuggets that is equivalent to the
value of the shares/CFDs they would like to buy from your company, if you are
interested in the deal please let me know so that i can arrange to meet
face to face
with me and my clients in Kampala, Uganda, where we can
have safe business transaction and also view the gold nuggets. 800 kilos
are there in safe custody under the safe keeping company.

Kindly send details and specifications of the available offers.
Hoping for your response.

Regards,



OCHAN JOHN
Assistant operations manager
ALAMA PROCUREMENT & LOGISTICS (U) LIMITED
ADDRESS;

PLOT 6/7 KATONGA ROAD

NAKASERO KAMPALA UGANDA.

P.O.BOX 3457 KAMPALA MAIN OFFICE

TEL: +256 414 695 785

FAX:+ 256 414 695 785
MOBILE:+256 771 864 971
skype: ochano3
 
Late-4 said:
Hello,

This thread is a continuation to another thread I started "Selection between SB and CFD", but since the selection is already made (CFD) and the real question comes down to the broker selection I decided to start a new thread. If its not ok, then I believe this will be moved to continue the original thread? However I believe I get more attention with more appropriate title.

Here is a link to the original thread: http://www.trade2win.com/boards/first-steps/176526-selection-between-sb-cfd.html

Okay, I have made some research and as a result I pointed out 4 brokers of which I can't decide from.

1. Interactive Brokers (IB)

Interactive Brokers Reviews
Interactive Brokers

+ Lots of good reviews
+ One of the biggest CFD brokers in the world, I think that is enough said
+ Good liquidity, tight spreads
+ Ranked #1 at Barrons
- The broker is American, and since I trade from Europe (Finland) I'd more appreciate an European broker (time issues etc...)
- Trading platform often reviewed as complicated / confusing
- MetaTrader4 not available

2. IG

IG (CFDs) Reviews
IG | IG Index and IG Markets

+ Lots of good reviews also (but bad ones too)
+ One of the biggest CFD brokers in Europe (at least largest in the UK in 2012)
+ Good liquidity and spreads
+ IGs own trading platform that has won many awards etc
+ HQ in Europe (London)
- MetaTrader4 not available (coming soon)
- Those individual bad reviews

3. CMC Markets

CMC Markets Reviews
Access the world markets

+ Another large CFD broker in Europe (I think CMC and IG are the 2 biggest in UK?)
+ HQ in London
+ Good liquidity and spreads
+ Their new platform is mostly well reviewed
- Only their own platform available
- Quite many bad reviews

4. InterTrader (White label company of LCG)

InterTrader.com Reviews
http://www.trade2win.com/boards/broker-reviews/132164-intertrader-com-2.html
http://www.intertrader.com/

+ Very much positive reviews in this forum (check the second link above)
+ Works under the name of a big company (LondonCapitalGrop), which guarantees a good liquidity
+ MetaTrader4 platform available
+ HQ in London
- Significantly smaller broker than the ones above
- Very strong advertising with banners and stuff, welcome bonuses etc... This is something that makes me doubt

One options is to demo trade all these with a couple of months and see which one I like to most.

Ideas, opinions, views?

Thx,
Late-4
Click to expand...

IB – I’ve heard good things.

IG – very good. DMA very good.

CMC – No comment (!!)

LCG – Small compared to IG. Do they do DMA?

Accendo Markets use the same platform as IG. Also do DMA, with enhanced support.

FP Markets used to do DMA – big in Australia – have you checked them?
 
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