trading broker

CFD trading is only offered by very few banks. As a rule, investors need a CFD broker. CFDs are bought and sold online via internet brokers. They enable CFD trading around the clock, independent of time and place. The purchase and sale is usually carried out via a trading platform; the software varies depending on the broker. When looking for the right broker, you should always consult a broker test in which there are independent customer reviews in addition to the CFD broker comparison.

What makes a good CFD broker?

If you want to trade CFDs, you first need to find a CFD broker where you can open a CFD account. There is a large selection of CFD brokers, but some of them differ enormously in their services.

To find the best CFD broker, you should therefore take enough time and ideally carry out a CFD broker comparison. A good market maker should offer professional traders favourable costs and a wide range of products. Ideally, it is controlled by the Federal Financial Supervisory Authority BaFin. Reliable financial regulation of the CFD broker at an established financial centre is extremely important. Good or trustworthy financial locations are Germany, Great Britain or Switzerland.  Especially for beginners, a location in Germany is the best choice; at least a telephone hotline should be available in Germany. Furthermore, an online broker should be awarded very good ratings in the independent CFD broker test.

To find the best CFD broker, it is helpful to consider the following questions:

  •     What services does the CFD broker offer? How wide is the range of products offered by the broker?
  •     Which markets are traded?
  •     What is the trading platform like?
  •     What trading conditions are offered?
  •     What is the fee structure?
  •     Is the broker regulated?
  •     Is there deposit protection?
  •     What customer service is offered?

Comprehensive customer service - essential for good trading

fx trading

A good CFD broker should also offer good and comprehensive customer service. When comparing CFD brokers, pay attention to whether sufficient information such as glossaries, FAQs and introductory videos are provided. This is especially true if you are a newcomer to CFD trading and have no previous trading experience.

Another important question for CFD brokers like login Exness is whether they offer personal advice. This can be offered by email as well as by telephone or video call. Does the broker also offer good accessibility? How well and on which channels is it accessible?

Good customer service also includes the provision of a demo account. This is especially interesting for beginners because they can gain their first experience in CFD trading without any risk. But a demo account can also be helpful for traders with CFD experience to try out new strategies.

Most CFD providers offer a demo account, but many of them only have a limited term of a few weeks. However, some providers also extend the term on request. Ask your broker for more information on this.

Also pay attention to the trading platform. How easy and intuitive is it to use? Are there enough functions and can it also be operated from mobile devices? Mobile trading has become more and more important in recent years and should also be operable by the online broker of your choice.