Are you looking for the best brokers for trading stocks CFDs? If yes, then you’re in the right place because we have put together a list of the best stocks CFD brokers for you, so you can focus on what really matters, which is taking advantage of the opportunities the stock market has to offer.
We have successfully ranked these brokers, using our strict ranking methodology to carefully pick the best stock CFD brokers for you.
Ranking Methodology – While testing and ranking the best brokers for trading stocks, some of the critical factors which influenced our judgments include; regulatory compliance & safety, product offering, execution model, execution speed, assets offered, trading cost (trading and non-trading fees), trading platforms provided, research offering, education offered, and customer support service.
Table of Contents
5 Best Brokers For Trading Stocks CFDs in 2022
Following our in-depth review and ranking process, below is our top pick for the best stock CFD brokers in 2022;
- IG
- IC Markets
- Saxo Bank
- Forex.com
- InteractiveBrokers
1. IG
IG is a highly reputable global online broker and one of the largest CFD providers in the world in terms of revenue and trade volume. It was established in 1974 by IG Group plc, a publicly-traded company on the London Stock Exchange and a constituent of the FTSE 250 Index.
IG offers spread betting, stockbroking, and CFD trading across a wide variety of global markets, including forex, shares, indices, commodities, cryptocurrencies, options, bonds, interest rates, sectors, and ETFs with over 18,000+ instruments to trade.
Along with access to a wide array of global markets, you can also enjoy exceptional brokerage services such as deep liquidity, superior trade execution, volume-based rebates, sophisticated trading platforms, expert customer support service, and much more.
IG’s ease of use, advanced trading tools, range of markets, research, and rich education offering, make it an excellent broker for both beginner and professional traders. Also, active and high-volume traders are welcomed with exceptional trading conditions and volume-based rebates, which can help keep trading costs down.
IG Overview
| Broker | IG |
|---|---|
| Regulation | CFTC, FCA, ASIC, FCA, FINMA, FMA, MAS, FSA, FSCA, DFSA, and BMA. |
| Forex Pairs | 81 Currency Pairs |
| Trading Platforms | ProRealTime, L2 Dealer, MetaTrader 4 |
| Minimum Deposit | $300 |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | 1:222 1:30 (for ESMA clients) |
| Account Currencies | USD, GBP, AUD, EUR, SGD, HKD. |
| Payment Methods | Bank Wire Transfer, Credit/Debit Cards, Paypal |
| Trading Tools | APIs, Virtual Private Server (VPS) |
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Pros
- Strong regulatory framework.
- It is listed on the stock exchange.
- 45 years of industry experience.
- Accepts US clients.
- Established in 15 Countries worldwide.
- 313,000+ clients worldwide.
- Deep liquidity.
- Negative balance protection.
- Volume-based rebates.
- No minimum deposit for bank transfer
- Industry-standard trading platforms.
- Forex spreads from 0.6 pips on major currency pairs.
- Excellent educational offering for beginner, intermediate and advanced traders.
- Outstanding research offering.
- Excellent customer support service.
Cons
- Inactivity fee charged (after two years of inactivity).
- Offers only forex trading in the United States.
- No copy/ social trading platform.
- High financing rate.
- Limited product portfolio in some countries.
2. IC Markets
IC Markets is a leading global online broker and one of the world’s largest forex providers by trade volume, with over 29 Billion USD in FX trades processed daily. It offers CFDs on various global markets, including forex, stocks, commodities, indices, cryptocurrencies, bonds, and futures, with over 2037+ instruments to trade.
With IC Markets, you can enjoy a plethora of top-notch trading services, including transparent pricing, low trading & non-trading fees, consistent ultra-low spreads from 0.0 pips, fast trade executions, low slippage, deep liquidity, advanced trading platforms & tools, and experienced customer support team available 24/7.
IC Market’s ease of use, and excellent trading conditions, make it a suitable broker for beginners and professional traders. It also supports various trading strategies such as hedging, scalping, and algorithmic trading. Likewise, Its unique trading conditions, such as ultra-low trading fees, fast execution, and deep liquidity, make it an excellent choice for active and high-volume traders.
IC Markets Overview
| Broker | IC Markets |
|---|---|
| Regulation | ASIC, FSA, and CySEC. |
| Forex Pairs | 61 Currency Pairs |
| Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader |
| Minimum Deposit | $200 or currency equivalent. |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | 1:500 |
| Account Currencies | AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, CHF. |
| Payment Methods | Credit and debit cards, Paypal, Neteller, Neteller VIP, Skrill, UnionPay, Wire Transfer, Bpay, FasaPay, Broker to Broker, POLI, Rapidpay, Thai internet banking, Vietnamese internet banking |
| Trading Tools | Virtual Private Server (VPS), Trading Servers, MT4 Advanced Trading Tools |
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Pros
- Quick account setup.
- Strong regulatory framework.
- Over 180,000+ clients across 190 countries worldwide.
- Multiple industry standard trading platforms in web, mobile and desktop versions.
- Deep liquidity and no requotes.
- Negative balance protection.
- Clients’ funds are segregated.
- Over 61 currency pairs to trade, including major, minor and exotic currency pairs.
- Flexible leverage from 1:1 to 1:500.
- Ultra-fast trade execution.
- Supports all trading styles and strategies.
- Offers swap-free account.
- Low trading fees across all account types.
- Low spreads (starting from 0.6 pips).
- Ultra-low spreads from 0.0 pips on IC Markets’ Raw Spread accounts.
- Multiple secure payment methods with fast deposit & withdrawal processing times.
- Demo account with unlimited duration.
- No inactivity fee is charged.
- Dedicated and friendly multi-lingual customer support service available 24 hours a day, seven days a week.
Cons
- Its product offering is limited to forex and CFDs.
- No proprietary trading platform.
3. Saxo Bank
Saxo Bank is a reputable Danish investment bank specializing in online trading and investments. Saxo connects traders and investors to a massive range of over 40,000+ financial products, including forex, cryptocurrencies, stocks, commodities, futures, forex options, listed options, ETFs, bonds, mutual funds, and CFDs (on forex, single stocks & ETFs, indices, bonds, commodities & index options) all from a single integrated trading account.
Saxo’s outstanding trading solutions and services include; deep liquidity, professional-grade trading platforms, ultra-competitive pricing, low forex trading fees, quality in-platform research, quality educational offering, VIP benefits, and excellent customer support service.
The brokerage solutions offered by this broker are designed to meet the needs of high-volume traders, professionals, advanced active traders, investors, and institutions.
In contrast, the services offered by Saxo Bank would be less suitable for you if you’re a low-volume trader, as there are few that you might encounter, some of which include high minimum deposits (depending on your region) and tiered pricing structures which are more favorable to high volume traders.
Saxo Bank Overview
| Broker | Saxo Bank |
|---|---|
| Regulation | FSA, FCA, JFSA, ASIC, FCA, Bank of France, SFBC, CONSOB, MAS, JFSA |
| Forex Pairs | 182 |
| Trading Platforms | SaxoTraderGO, SaxoTraderPRO, MetaTrader 4, TradingView. |
| Minimum Deposit | $2000 or currency equivalent. (varies for different countries) |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | 1:200 |
| Account Currencies | AED, AUD, CAD, CHF, CNH, GBP, JPY, PLN, SGD, CZK, HKD, MXN, RON, ZAR, DKK, HUF, NOK, RUB, TRY, EUR, ILS, NZD, SEK, USD |
| Payment Methods | Bank Wire Transfer, Card Payments, Sub-account Transfer, Portfolio Transfer (Broker to Broker) |
| Trading Tools | FIX and OpenAPI, OpenAPI for Excel, Dynamic Trend, MultiCharts, Updata |
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Pros
- Strong regulatory framework.
- Over 25+ years of experience in the industry.
- 810,000+ customers in over 180 countries worldwide.
- Wide product portfolio.
- Offers managed portfolios (SaxoSelect).
- Wide range of asset classes.
- Top tier liquidity and no requotes.
- Its client’s funds are segregated.
- Multiple industry standard trading platforms.
- Low latency and superior trade execution.
- Deep liquidity.
- Negative balance protection.
- Competitive spreads.
- Lower fee rates for active traders.
- Outstanding research offering.
- An extensive list of educational offerings (including webinars, courses, guides, and tutorials).
Cons
- The demo account duration is limited to only 20 days.
- An inactivity fee is charged per quarter.
- High minimum deposit in certain countries.
- Limited deposit and withdrawal methods.
- No support for e-wallet payments.
4. Forex.com
Forex.com is a global FX and CFD provider founded in 2001. It is owned and operated by its parent company StoneX Group Inc, a publicly-traded company listed on the NASDAQ Stock Exchange (NASDAQ: SNEX).
Forex.com offers CFDs, spreads betting, and futures across over 9,500+ global markets, including forex, commodities, indices, stocks, metals, and cryptocurrencies, through institutional-grade platforms, excellent execution, and high-touch expertise.
Other outstanding brokerage solutions you can enjoy with Forex.com includes deep liquidity, competitive pricing, transparent fee structure, superior trade executions, low slippage, multiple account types, an Active Trade Program (which can reduce trading costs by up to 15%), multiple industry-standard trading platforms, education & research tools, VPS hosting and excellent customer support service.
The brokerage solutions offered by Forex.com makes it an ideal broker for traders of all experience levels, although high-volume traders would benefit more from its services.
Forex.com Overview
| Broker | Forex.com |
|---|---|
| Regulation | NFA (US), CFTC(US), FCA (United Kingdom), ASIC (Australia), FSA (Japan), IIROC (Canada) |
| Forex Pairs | 80+ |
| Trading Platforms | MT4, MT5, NinjaTrader, Web |
| Minimum Deposit | $100 |
| Demo Account | Yes (90 Days) |
| Maximum Leverage | 1:50 EU/UK Clients – 1:30 |
| Account Currencies | USD, EUR, CAD, JPY, CHF, AUD, GBP |
| Payment Methods | Wire Transfer, Card Payment, Paypal. |
| Trading Tools | VPS Hosting, Autochartist, Recognia, Smart Signals, Performance Analytics |
Pros
- 20+ years of industry experience.
- Strong regulatory framework.
- Parent company StoneX is a publicly-traded company listed on the NASDAQ Stock Exchange (NASDAQ: SNEX).
- Over 500,000+ clients across the world.
- Wide range of asset classes, including currencies, Indices, metals, commodities, stocks, and Cryptocurrencies.
- Low minimum deposit.
- Fast and secure payment methods.
- No withdrawal or deposit fee.
- Transparent fee structure with no hidden charges.
- Competitive pricing.
- Offers Active Trader Program, which helps reduce trading costs by up to 15%.
- Superior order execution.
- Multiple industry standard trading platforms and tools.
- Great customer support service.
Cons
- Limited payment methods
- Slow account verification process.
- The demo account is only available for 90 days.
5. Interactive Brokers
Interactive Brokers (also known as IBKR) is a leading global online broker owned and operated by Interactive Brokers Group, a publicly-traded company listed on the NASDAQ index.
IBKR offers a wide array of trading instruments and investment products from a single integrated trading account, including forex (spot currencies), stocks, fractional shares, bonds, mutual funds, hedge funds, ETFs, options, futures, cryptocurrencies, and metals.
With IBKR, you can enjoy an extensive list of excellent brokerage services, including deep liquidity, superior order execution, low trading fee, low financing rate, quality educational materials (for beginners, intermediate & advanced level traders), sophisticated multi-functional trading platforms, powerful research tools and much more.
The brokerage services offered by IBKR make it suitable for active traders and sophisticated investors with advanced trading experience. In addition, it is great for professional traders seeking exposure through different derivatives. Also, traders who want to combine trading and investing can do so through a single integrated account.
Furthermore, IBKR offers two brokerage plans: the IBKR Lite and IBKR Pro. The IBKR Lite plan serves casual traders with a simplified trading experience (via Client Portal, IBKR Mobile, and Trader Workstation). In contrast, the IBKR Pro plan is designed to serve active traders and sophisticated investors with a more advanced trading experience through a full suite of premier trading technology.
Interactive Brokers Review
| Broker | Interactive Brokers (IBKR) |
|---|---|
| Regulation | CFTC, IIROC, FCA, CSSF (Luxembourg), Central Bank of Ireland, Central Bank Hungary, ASIC, HKFS, KLFB, and MAS. |
| Forex Pairs | 115 |
| Trading Platforms | Trader Workstation, IBKR Mobile, IBKR APIs |
| Minimum Deposit | $0 |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | 1:200 |
| Account Currencies | USD, AUD, GBP, CAD, CNH, CZK, DKK, EUR, HKD, HUF, ISL, JPY, KRW, MXN, NZD, NOK, PLN, RUB, SGD, ZAR, SEK, CHF and TRY. |
| Payment Methods | Bank Wire Transfer, US Automated Clearing House (ACH), Check, Online Bill Payment, BPay, Direct Deposit, Canadian Bill Payment, Canadian Electronic Fund Transfer (ETF), Direct Rollover (Trustee-To-Trustee, Late Rollover, Employee/ Employer SEP Contribution, Recharacterization, Roth IRA conversion). |
| Trading Tools | Client Portal API, Trader Workstation API, FIX API, Investors Marketplace |
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Pros
- Strong regulatory framework.
- Over 40+ years of experience in the industry.
- It is listed on the stock exchange.
- Wide range of product offerings.
- Large selection of investment products.
- Professional grade proprietary trading platforms for desktop and mobile devices.
- Superior order executiion.
- Provides support for expert advisors.
- Top tier liquidity and no requotes.
- Negative balance protection.
- Ultra-low spreads and commissions.
- Secure deposit and withdrawal methods.
- Offers over 23 account base currencies.
- It offers a volume-tiered pricing structure (based on the combined monthly trade value of the underlying asset).
- Accepts US clients.
- A wide range of quality educational materials suitable for beginners, intermediate and advanced traders (including videos, courses, and webinars).
- Wide range of vital trading services.
Cons
- It can be overwhelming for beginners.
- Not suitable for low-volume traders.
- Offers no third-party trading platform.
- The demo account is available only after the regular trading account has been approved and funded.
- Card payments and electronic payments are not available.