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Compare Forex and CFD Brokers

Written by

March 14, 2023

Picking a broker can be tricky. BrokerNotes is here to help.

We’ve spent thousands of hours researching, testing, and collecting thousands of data points on some of the best, most reliable brokers in the business.

Our cutting-edge Comparison Tool works in tandem with our testing data to help you pick, compare, and ultimately choose the best broker for you.

Quick note: To make sure you have the best, most accurate experience with our Comparison Tool, we’ve enabled geo-location on these pages. Available brokers are displayed based on your location.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Select Brokers

Overall RatingIGFOREX.comXTBBlackBull Markets
Overall Rating 9.9 / 10 9.3 / 10 9 / 10 7.9 / 10
Account TypeIGFOREX.comXTBBlackBull Markets
Standard Trade Size (100,000 units) Yes Yes Yes Yes
Mini Trade Size (10,000 units) Yes Yes Yes Yes
Micro Trade Size (1,000 units) Yes Yes Yes Yes
Islamic Account No Yes Yes Yes
Copy TradingIGFOREX.comXTBBlackBull Markets
Social Trading / Copy Trading Yes No Yes Yes
DupliTrade No No No No
ZuluTrade No No No Yes
CryptocurrencyIGFOREX.comXTBBlackBull Markets
Cryptocurrency (Physical) No No No No
Cryptocurrency (CFD) Yes Yes Yes Yes
Bitcoin Yes Yes Yes No
ethereum Yes Yes Yes No
Forex Trading (Spot or CFDs)IGFOREX.comXTBBlackBull Markets
Forex Trading (Spot or CFDs) Yes Yes Yes Yes
Mobile Trading - Forex or CFDs Yes Yes Yes Yes
Indices (Index CFDs)IGFOREX.comXTBBlackBull Markets
DAX Yes Yes Yes Yes
Dow Jones Yes Yes Yes Yes
FTSE Yes Yes Yes Yes
NASDAQ 100 Yes Yes Yes Yes
Nikkei Yes Yes Yes Yes
SP 500 Yes Yes Yes Yes
InvestmentsIGFOREX.comXTBBlackBull Markets
Forex Trading (Spot or CFDs) Yes Yes Yes Yes
Spread Betting Yes No No No
Social Trading / Copy Trading Yes No Yes Yes
Metals Yes Yes Yes Yes
Energies Yes Yes Yes Yes
Agriculturals Yes Yes Yes Yes
ETF Yes Yes Yes Yes
U.S. Stocks (CFD) Yes Yes Yes Yes
Trading PlatformsIGFOREX.comXTBBlackBull Markets
Apple iOS App Yes Yes Yes Yes
Android App Yes Yes Yes Yes
Proprietary Platform Yes Yes Yes No
Desktop Platform (Windows) Yes Yes Yes Yes
Web Platform Yes Yes Yes Yes
MetaTrader 4 (MT4) Yes Yes Yes Yes
MetaTrader 5 (MT5) No Yes No Yes
Regulatory LicensesIGFOREX.comXTBBlackBull Markets
Tier-1 Licenses 7 4 1 1
ASIC Authorised (Australia) Yes No No No
IIROC Authorised (Canada) No Yes No No
FCA Authorised (U.K.) Yes Yes Yes No
SFC Authorised (Hong Kong) No No No No
MAS Authorised (Singapore) Yes No No No
FINMA Authorised (Switzerland) Yes No No No
CFTC Registered (USA) Yes Yes No No
Tier-2 Licenses 2 2 3 0
Tier-3 Licenses 1 1 1 0
Research, EducationIGFOREX.comXTBBlackBull Markets
Trading Central (Recognia) No Yes No No
Forex News (Top-Tier Sources) Yes Yes Yes No
Daily Market Commentary Yes Yes Yes Yes
Autochartist Yes No No Yes
Investor Dictionary (Glossary) Yes Yes No Yes
Videos - Beginner Trading Videos Yes Yes Yes Yes
Client Webinars (Archived) Yes No Yes Yes
Trading CostsIGFOREX.comXTBBlackBull Markets
Minimum Deposit £250.00 $100 $0 $0
Average Spread EUR/USD - Standard 0.86 info 1.0 info 1.07 info 0.827 info
All-in Cost EUR/USD - Active 0.5957 info 1.0 info 1.04 info 0.827 info
Active Trader or VIP Discounts Yes Yes Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes Yes Yes
PayPal (Deposit/Withdraw) Yes Yes Yes No
Trading ToolsIGFOREX.comXTBBlackBull Markets
Watchlists - Total Fields 14 20 8 7
Mobile Watchlist Yes Yes Yes Yes
Charting - Indicators / Studies (Total) 33 203 39 30
Mobile Charting - Indicators / Studies 33 88 39 30
Trust FactorsIGFOREX.comXTBBlackBull Markets
Year Founded 1974 1999 2002 2014
Publicly Traded (Listed) Yes Yes Yes No
Bank Yes No No No
Authorised in European Union Yes info Yes info Yes No info
Trust Score 99 99 95 74
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