RTC Finance Review, One of the best Forex and CFD trading platform

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RTC Finance Review – is it scam or safe?

Trading accounts

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Standard 0.01 lots 1:200 2 pips

RTCFinance is a forex broker that launched operations in the beginning of 2020. It offers trading in forex and CFDs in a portfolio of over 90 instruments. There is just one type of trading account – Standard. The broker does not provide the option for a demo account for those who wish to try their hand at trading without risking any money.

The Company. Security of Funds

Company Country Regulation
Icon Markets Limited Belize None

RTCFinance is a brand of the Belize-based financial services provider Icon Markets Limited, which also owns the binary options brand Hedgestone Group. Icon was registered and regulated by the country’s International Financial Services Commission (IFSC), but its license is no longer valid.

Belize is a popular offshore destination for registering forex brokers and has relatively lax capital requirements and fees, when compared to major and more “serious” regulators like UK’s FCA or the Cyprus Securities and Exchange Commission. In the beginning of last year the IFSC raised its application and annual fees and capital requirements. Still, the $500 000 operational capital requirement is rather low, compared to other regulators and the IFSC does not have such strict rules on client protection and dishonest trading pratcies.

Nevertheless, when compared to the several other popular among the forex brokers offshore zones, Belize is somewhat better than the rest.

Trading platforms

RTCFinance offers the Sirix web-based trading platform developed by Leverate. It is an all-in-one social trading platform that does not require installation on a computer. Sirix lets users configure lots and instruments they trade the most, allows one-click and copy trading. The platform also contains analysis tools, charts and graphs and provides news and economic calender. Sirix also has mobile applications for Android and iOS.

RTCFinance’s Sirix platform. Click to enlarge.

Unfortunately, RTCFinance does not offer MetaTrader 4.

Methods of payment

RTCFinance accepts client deposits through debit, bank transfer and credit cards and the electronic payment systems Neteller and Skrill. Those are fairly standard deposit options provided by many brokers and offer relative flexibility.


RTCFinance is a new forex and CFD broker registered in the offshore zone Belize and regulated by the IFSC. Like we already said, the Belize regulation does not offer the level of client protection provided by the stricter and more reputable financial markets watchdogs, but is better than, lets say, Vanuatu or Saint Vincent and the Grenadines, which is another popular destination for the forex brokers.

Overall RTCFinance’s trading conditions are nothing special – the spreads are average and the leverage is rather low, which in the case of offshore forex brokers could be a good thing.

Pros Cons
No MT4
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
$50 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin MT4, Web,
$0 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for RTC Finance




Price feed



Customer service


I have a compain with this company they keep ringing me to trade with them when i was looking for work from home i said i have not traded before that time when i talked to one of they workers confirmed every thing how easy it is and sm one will call u to show how u can turn ur money over to houndreds but before that you need to put down ВЈ250 so i did after that i had no calls each time i rang sm one will get back to u that never did my money just went to drain for nothing very dispointed.

Very angrey with this company they are just froud never will fall in this trap again.


Hey support team

I joined this business last year from new Zealand and when i came to papua new guinea they blocked me and i hardly do anything at all. When i wrote to the reps they returned my 1/2 money while rest paid to the company for not actively taking part in trading. i am still interested but how can i start in papua new guinea?

Big Scammers Big Bastard

Never ever believe on them, I am one too one of the victim. they fooled specially bastard Ron Ryder –chinaal ki aulaaad.


Lied to

I had never traded on the stock market but after watching a RTC video felt sure that this was a good company to trust with my finances. I have through most of my life been on a low salary but had come into some money, ВЈ18,000 via my pension and thought to invest it for the benefit of my kids future.

The money very soon went, I never had the opportunity to understand how to navigate around the Forex market, I was duped, I allowed myself to trust individuals whom I clearly now know showed no interest to my request for security, they flippantly played with my savings.
After sending in a complaint email I was promised that should my losses fail to recoup my losses RTC would offer me a 10% compensation, this never materialised.
I now have to explain to my wife and kids why I cannot afford to buy them driving lessons, thanks a million RTC

RTC Finance is a Scam

I thought it was necessary to share my experience with RTC. I was bombarded to invest more money after my first investment of ВЈ200.00. I explained that I could not afford to lose any significant amount of money as I as not in a P.O. to do so. In all I invested ВЈ5000.00 and was told that my money was 100% guaranteed and protected against any loss. The calls kept coming in less and less and I found myself having to ask them to ring me. In the end, I lost all my money even though they were the ones doing the trades. The way in which I was treated as a customer was horrible. I wrote to RTC many times and never got a response from them. They never contacted me again. I am hoping that an authorised body will look into all these complaints and help all those customers who have been conned.

RIP off

Hi. rtc finance. they will tell you anything to get you interested and “trading” with them. be very very careful, they will advise you and show you what to do, even what trades to make when it all goes wrong they don’t want to know even when they’ve told you what to do . please don’t trust any of them. they don’t care as long as they’ve got your money. PLEASE Don’t TRUST them with your Hard ear to CASH

Total scam. the biggest fraud I saw.

That’s real opened scam company. They take money for their pockets not to real financial market. I live in Europe. And before cooperation with RTC I thought that EU police, EU banks controll all processes in internet. Answer: NO. Police didn’t help me. Bank didn’t help me. As they told that’s “HIGH risk investments”. But RTC gave me real guarantees by the contract.
I got help only by good people and professional lawyers with real practice.
In total my investments were 88400 euro. Everything started from 1500 euro. During 4 month that I worked with them I got 187521 euro on my account. (Don’t believe that’s not real). Always they told me that they need more and more money. And three last transactions were not to loose my balance. How stupid I was.
When I understood that this company is real scam I started to act. I am very thankfull to good people who gave me real advices and ways to get my money. I will do the same as they did for me. fitcher5000gmailcom I will explain everyone what to do and how you can act against them. Believe my experience: RTC will never make the withdrawal by themself. I got my money. But not by liars from RTC. I acted very cruel agains them. By payment system.
To be honest it was the third company which scammed me.
Don’t believe their managers. Don’t pay them. Save all e-mails and documents with them.

They took my lifesavings!

I have a story alike same of you! Urging to invest more money and promising higher level of earning. Suddenly, 24 oktober, when I hade invested all I had about 800.000 SEK, everything was gone during the night! Then the offered me a Credit. Having no money I accepted an I could trade. Tried to withdraw when I was earning but there was trouble with that. Suddenly the told they were closing 1 april. They closed 15 mars! Now I am contacted and they are offering a compensation of 3.000€! But I lost 80.000! It will take them several weeks to make the payment they say! What can be done against this scam?

RTC robbed my money

This is a scam. I was conned out ВЈ17500 my life savins. I was trying to multiply my money for retirement. There was strangers who called themselves by fictious names who robbed my money. They act on your inexperience and claim to be acting in your best interests until all your money is gone. They then claim they are no longer trading for buisness. You cannot contact them after that, it is as if they dont exisit. DO NOT USE THIS SITE, IT IS ALL A SCAM TO TAKE YOUR MONEY. MY retirement money as gone, where? I do not know. Do not fall for thete nice polite selves, it is all a CON.

Huge scam

This is a huge scam. The traders are pushy and dont know what they are doing. Thei instruct you to take trades and trust them, but dont follow up if things go bad and take no responsability for tremendously bad advice. they promise you will be abel to withdraw your money, but thats just a lie. I have invested 80150 am dollars of my hard earned savings and even though my balance is over 100000, I am not abel to withdraw anything and fear everything i s lost in this scam.
It is not possible to contact them pr email og phone. their phonenr is now answered by a message that says to kontakt actionfraud. police. uk if you have been scammed from that nr. They are closing therir website april1 18 an its all confirmation that thei company og traders are a huge scam, and they should be punished for this. i have reported them to the authorities, and ask evry other customer of theirs who have suffered losses /scams to do the same.

Withdrawing money – April 1 the company will be closed

RTC Finance its closing, on them website it’s saying that 1 of April the company will be closed. I try to withdraw my money and I sent an email to them. After 2 days they reply to me that my request been cancel because I signed Request for Account Adjustment.On that paper is written that I can not take my money only if the limed of the amount which I lost has not been exceeding. But here the situation its different – COMPANY IS CLOSING its not ME WHO WANTS TO CLOSE THE ACCOUNT. I didn’t see on any part of that paper to be written that if the company closed by herself we don’t have right to take the money back? I just want to ask The customer service of RTC is this a fake drama just to push people to closed them accounts and loss the money or no? If anyone been in this situation please let me know here.


You will loose your money with this company. Guaranteed. Be aware! They do not know what they are doing! It is a scam!

My life’s savings went in

Never invested on the Stock Market but through a ‘shared screen’ my life’s savings went in, ‘be careful’ I said this is an investment for my kids future.
Although initially made a few grand the whole lot went in 24 hours, 10 years pension contributions.
Just a few idiots allowed to free roam in what have otherwise been a very decent organisation

RTCfinance – Dont invest your hard earned money with them

I lost ВЈ11000 with them under the direction of alex york and michael goodman. It starts ok with small trades’ and making a profit. Then you are asked to invest more money ‘ why not you think this is great. Then under there direction they direction they get you too open multiple trades? With in 48 hours i lost my money! Dont invest your hard earned money with them. Have tried getting my money back with the help of my back with the help of my bank ‘ but have been unsuccessful. This is a scam they should be made to pay! As you can see im not the only unfortunat client of there’s. F..KERS.

How i lost my investment in RTC Finance.

I invested in RTC Finance the sum of 714 pounds in bit coin and i could see it rise to 1258 pounds in 4 days but after the 5th day it had dropped to 678 pounds then after the 6th day it had gone to zero.I was then told that if i invest more money that i would get my money back and more so i invested 4000 puonds and i was told that i would make up tp 20,000 pounds but only after 3 days my money had dropped to minus 3717 pounds.
So how can 4000 pounds drop to minus 3717 pounds in 3 days.

Lost of Money due to Fault of RTC broker

I am writing to you with the hope that you approach the RTC management team regarding my loss of funds Euro 165,000.00.

The loss of my money was not through the fault of my speculation, but through the investment speculations that were instructed to me by Mr. John Stanley, Executive Trader and his expert team traders. Prior to the investments, which I was dictated to open on the Forex trade by a Senior Executive Trader assigned to me by John Stanley, I was doing ok with very little conservative trading with myself. All was going ok until 24 November 2020, when a Mr. John Stanley, Executive Trader with RTC finance spoke to me and informed me that he will connect me to a Technical Executive Trader, whose name I don’t remember.

This Technical Trader informed me that he will tell me the Forex investments that I need to open positions on. Immediately he started to instruct me to open trades on buy and sell of many Forex investment currencies and each investment was for 5,000,000 unites. I did not question his instruction because of the lack of knowledge I had or still have in the trading of stocks. I did notice that the margin level after we were completed opening many Forex investments was not showing. Therefore, I did not know if this was normal and I put my full trust in him.

After we completed our conversation I received no special instructions from him and I was told that my account manager will call me back. Our conversation ended and I did not receive call again to at least confirm if everything went well. Later that evening, Friday, 24 November 2020, and part of Saturday afternoon, 25 November 2020, I started to notice that several investments were making profits and I decided to close the open position to receive the profit. I started doing this on several open positions, which were making profits because I was afraid that the profit would turn into a loss. After I closed out about 5 or 6 Forex trades that were making profit I noticed that the margin level position appeared again and it showed a very low percentage. I was not aware of what was happening and because it was Saturday no one was available at RTC. I was left alone with this mess, and I was not aware what was going on and I noticed that my entire Euro 165,000.00 had disappeared into a loss and there was nothing I could do or no one to speak too. I immediately sent an email to David Shepard and CC David Jones regarding my situation. On Monday, 27 November 2020, I was contacted by David Shepard, and it was not until I spoke to him that he informed me that I should have not close any of the open positions ( even though it was showing profits) of the Forex trade that were done on Friday, 24 November 2020. David Shepard explained this to me after the fact and therefore I was never told beforehand that all the Forex trades had to remain open. This was never passed onto me by the Executive Trader, because if he would have instructed me not to close any positions I would have never done what I thought was the right thing to do to close a profitable trade. Again, I repeat, that it was not until Monday morning, 27 November 2020, when all the damage was done that Mr. Dave Shepard, Senior Trader, informed me that I should have not closed any of the Forex trade even though they were making profits. With lack of information that was not provided to me on 24 November 2020, by the Executive trader, I lost my life time savings of Euro 165,000.00 and all profits that I had made since 21 September 2020. All was gone in matter of hours due to lack of instructions that was not provided to me.

I know that this was not my fault and I strongly believe that the company RTC should reimburse me my Euro 165,000.00 into my account. I lost my money through lack of proper instructions that was conducted by RTC Executive trader. I take no fault of what had happened. I have been extremely loyal to RTC and have followed all instructions that has proved to me from David Shepard, David Jones and Don Hunter who are all the traders that worked with me.

I would appreciate your assistance in helping me in this matter and please have RTC reimburse me my loss of Euro 165,000.00.

I am currently sick because I have cancer. I am receiving radiation treatments and am very weak. I lost my life savings to RTC because of their fault. I beg you to please help me.

RTC Finance Broker Review

We are not promoting RTC finance at the moment.

In order to ensure safe Forex and CFDs trading experience choose regulated broker such as 24option.

RTC Finance is a brand of Icon Markets Limited, a company regulted by IFSC in Belize, allowing it to provide derivatives trading services, however, as their website states, the service provider is loated on Cyprus and called Firstworld Consultants Limited, and carries all the liability. Since most customers are probably from the EU, this may be good for them, depending how important for them is if the broker is regulated by CySEC or not. In any case, RTC Finance offers CFDs trading in four groups of instruments with well-known Sirix platform. For details on the services and the platform itself, read the rest of our RTC finance review.


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Between 74-89 % of retail investor accounts lose money when trading CFDs

RTC Finance Special features

RTC Finance offers several types of accounts targeting various types of customers and their trading needs. We feel the accounts were set primarily for the really experienced traders with big bucks to invest since the basic account ends in $10,000 range, meaning more needs to be deposited in order to attain better perks offered by the broker. The broker does not mention maximum spreads nor does offer a functioning demo at this point that we can see for ourselves how the spreads behave.

RTC Finance Introduction Account

  • Minimum $200 deposit
  • Max 1:50 leverage
  • 1 academy lesson
  • “Variable spreads”
  • Webinars access

RTC Finance Bronze Account

  • Minimum $10,000 deposit
  • 1:100 leverage
  • 3x lessons from the academy

RTC Finance Silver Account

  • from $25,000 deposit
  • 1:150 leverage
  • 50% bonus
  • 8x lessons from the academy section
  • pro account manager

RTC Finance Gold Account

  • from $50,000 deposit
  • 1:200 leverage
  • daily trades
  • 100% bonus
  • 10x academy lessons
  • pro account manager

RTC Finance Platinum Account

  • from $100,000 deposit
  • 1:400 leverage
  • 100% bonus
  • no commissions with fixed spreads
  • pro account manager
  • daily trades

Overall the account setup is pretty weird, but in many cases, we feel bang for buck, keeping all other things to consider constant is not so good when compared with other brokers in the industry. The low leverage may be good for beginners, but someone depositing $9000 is hardly to be a beginner we hope – there are ways for brokers to weed out newbies and restrict leverage, like other brokers do. We have no idea what are daily trades – probably signals, we will update our RTC Finance review when we get the answer.

The broker also offers bonuses, but understand there are terms and conditions that apply. A number of lots must be traded in order to be able to withdraw the bonus. The benefits are not very symmetrical since in case one wants to withdraw before the bonus requirement is reached, all losses will be deducted from the trader’s deposited funds, while all profits will not count and will disappear along with the bonus when the “premature” withdrawal is requested. This was one of the reasons why CySEC banned bonuses, but not the only one.

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RTC Finance Trading software

RTC Finance uses Sirix as platform of choice to offer CFDs trading services to their customers. We have reviewed this platform with several brokers and concluded it is very user friendly while packing decent amount of features in attractive design. RTC Finance Sirix platform also offers social trading integrated directly into the trading interface. This ensure there is no need to switch products in case social features are to be used.

With RTC Finance there are 90 underlying assets that can be traded, they are available to all the traders as we have seen and they can be divided into four asset classes

  • stocks
  • indices
  • forex / currencies
  • commodities

RTC Finance does not offer bonds or ETFs like some other forex & CFDs brokers do. The minimum spread is 2 pips.

If you want to trade with an award-winning licensed broker, we recommended using IQ Option

Between 74-89 % of retail investor accounts lose money when trading CFDs

RTC Finance Support information

RTC Finance has English Arabic and Spanish translated website. The broker can be contacted via live chat, call or even screen share. We really like the idea of screen share, in many cases it can help if the trader is not sure how to use features on the platform, however, make sure that it does not become vehicle for broker representative to place trade on your behalf.

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Between 74-89 % of retail investor accounts lose money when trading CFDs

RTC Finance Payment Methods

The minimum deposit with RTC Finance is $200. This is in line with the rest of the industry. The deposit methods are fairly standard – bank wire, cards and Skrill and some other e-wallets.

Withdrawals are to be made using the same method that was used to deposit. Make sure to deliver all the ID verification documents before requesting the withdrawal, best right when you open the account. Bad thing is that it may take up to 5 days to process the withdrawal since the standard in the industry is 24h. After that it may take few more days if slow methods such as bank wire are used.

The minimum withdrawal amount is $10 with cards and there are no fees. Bank wire withdrawal is minimum $30 and there are no fees for withdrawals of up to $1000. For bigger withdrawals than that, $50 fee is charged.

RTC Finance Scam

We have not received any kinds of complaints about this broker. Browsing the internet we did find some complaints, especially in specialised forex scam forums, however, the administrators shut down the discussion since the client was not ready to bring forward proof she is really a client so the administrator shut down the discussion.


We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

  • FREE $10,000 demo account
  • Award-winning trading platform
  • Licensed and regulated broker
Between 74-89 % of retail investor accounts lose money when trading CFDs

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These brokers offer tight spreads and great trading platforms

Investopedia is committed to rigorous editorial standards to provide our readers with the best advice and recommendations. We may receive compensation when you click on links to products we reviewed. Learn more about our methodology and review process.

The global foreign exchange (forex) market is the largest and most actively traded financial market in the world, by far.   When looking for the ‘best’ forex broker, both beginners and experienced traders generally look for several key features and benefits. Among the most important of these are fees (including spreads and commissions), trading platform(s) (including software, web-based, mobile, charting and third-party platforms), customer support, trading education along with currency research, and trustworthiness.

Best for Forex

Our list of the top brokers for forex trading:

  • IG
  • CMC Markets
  • London Capital Group (LCG)
  • X-Trade Brokers (XTB)
  • Forex.com
  • Pepperstone

Note: There are now only three forex-only brokers currently operating in the U.S. All three are represented on this list. Our winner, IG, is one of the largest brokers in the world but only just re-entered the U.S. market officially in February 2020.   The other two brokers who operate in the U.S. are OANDA and Forex.com.   

IG Group

  • Account Minimum: $0
  • Fees: Minimum of 0.6 pips for EUR/USD
  • Bestfor: Forex Trading

IG has been in the forex and CFD business for over 40 years. The company offers access globally to a comprehensive product line that includes forex, stock indices, individual equities, stock sectors, commodities, cryptocurrencies, bonds, and interest rates on a variety of professional-grade web-based and mobile trading platforms. 

IG is the largest CFD dealer (based on trading revenue) with the largest number of active financial spread betting accounts in the UK.   As noted, the company just began serving U.S. clients once again, in February 2020 (IG had operations in the U.S. previously before leaving).     Its size allows it to offer some of the lowest spreads and commissions in the industry. IG Group is a FTSE 250 company with more than 195,000 clients worldwide. 

No minimum account size

Regulated by the CFTC, FCA, ASIC, and the Monetary Authority of Singapore

Trade with a traditional broker-spread or the typically less expensive raw spread plus commission model

Research and news resources are only available by launching external web pages or applications

Educational offerings are fragmented and disorganized

Customer service representatives are knowledgeable but slow to respond. Hold times were unusually long.

CMC Markets

  • Account Minimum: $0
  • Fees: 0.7 pip minimum for Forex, $10 stock trades
  • Best for: New and low-skilled traders

CMC Markets offers competitive spreads that widen with larger trade and bet sizes.   Dedicated sites for professionals and institutions highlight their commitment to higher skill and commitment levels, but it would be nice to see higher level perks, including rebates and the free API interface, offered to retail accounts. Even so, all account holders gain access to guaranteed stop losses, free bank wire withdrawals and other advanced features, lifting the broker into the top tier in several review categories.   

Huge product catalog

Sophisticated order types

High US index CFD spreads

Limited security features

No copy/social trading platform


  • Account Minimum: $0
  • Fees: EUR/USD 1.3 pips, USD/JPY 1.1 pips
  • Best For: Seasoned traders looking for a stellar desktop trading experience

OANDA is one of the earliest pioneers of the retail forex industry. Having roots in academia, the company built its reputation, product offerings, technology, and customer base to the point now that it’s one of only three forex-only brokers in the U.S., and also serves customers throughout the U.K., Singapore, Canada, and Australia. Since the company’s inception back in the 1990s, OANDA has been at the forefront of retail forex, offering the latest trading technology and services to a global customer base. 

Key points about OANDA include the fact that it has a $0 minimum for live accounts, which is not too common for any type of broker, including forex-specific brokers.   Also, the company is well known for its quality of trade execution and transparency when it comes to pricing and fees. Finally, OANDA has long focused on its trading technology, which includes its proprietary web-based and desktop platforms, as well as mobile and MetaTrader 4 options.   

Accounts can be opened for as little as one dollar

Regulated by the CFTC, IIROC, FCA, ASIC, and the Monetary Authority of Singapore

Offers both a traditional broker spread and the typically less expensive raw spread plus commission model

Research and news resources are scattered

Education and webinars were fragmented and disorganized

Slow customer support

London Capital Group (LCG)

  • Account Minimum: $0
  • Fees: One pip minimum with EUR/USD
  • Bestfor: Variety of asset classes

LCG provides access to a broad selection of CFDs and spread betting instruments across several different asset classes including forex, indexes, cryptocurrencies, commodities, bonds, and individual stocks.   They offer competitively low spreads and no commissions. LCG also provides account holders with the benefit of negative balance protection (so traders will never lose more than the amount they have on deposit). 

Connection between the app and the web version on the desktop was instantaneous

LCG’s analysis and insights are higher quality than average

Top notch mobile app

No way to integrate third party tools into their platform

No backtesting or automated trading

X-Trade Brokers (XTB)

  • Account Minimum: $250
  • Fees: Standard account advertised spreads of .9 pips
  • Best for: Access to cryptocurrency and forex pairs

XTB provides access to a variety of markets such as forex, shares, indices, metals, commodities and even cryptocurrencies.   The company is regulated in the UK and registered with the Financial Conduct Authority (FCA). 

XTB’s spreads, trading costs, and account fees were about average for the industry overall; however, forex spreads were consistently better than average. A custom trading platform, xStation 5, and MetaTrader 4 were available for the desktop along with mobile applications.   

XTB offers access to more than 1500 trading markets

Traders can explore the available markets through searching tools

XTB is registered with the FCA in the UK

Guaranteed stop losses are only available on the “basic” account type

XTB has a required initial investment of $250


  • Account Minimum: $50
  • Fees: Average EUR/USD spread is 1.3
  • Best For: The very active forex trader

Forex.com, the primary brand of publicly-traded GAIN Capital (NYSE: GCAP), is also one of the first forex-specific brokers on the scene. Within the past several years, the company has acquired several businesses, some in the U.K. This includes the well-established CFD, forex, and spread-betting company, City Index. Because of this and other acquisitions, GAIN Capital has been able to acquire customers from across the globe and is an industry leader in most markets.   This includes the U.S., where it currently edges out its primary competitor, OANDA, in terms of customers assets.

Forex.com has been busy at work in the past few years upgrading and revamping its trading platforms and related systems. As a result, the company’s technology, both for Forex.com and City Index, are one of its primary strengths. Additionally, GAIN Capital employs a global team of market analysts that provide clients with useful and constantly updated market insights. Besides the usual forex and CFD markets (outside of the U.S.), Forex.com also offers bitcoin for trading.     

Access to forex, shares, bonds, indices, cryptocurrency, and commodity CFDs

Custom web and client trading platforms as well as MT4

Research coverage by global research team for U.S., European, and Asian markets

Guaranteed stops may be available for a fee on some markets

Average forex and shares trading costs

Lots of educational resources but navigation to and from these sources is tricky


  • Account Minimum: AUD $200
  • Fees: Advertised spreads “from 0.0”
  • Best for: Australians looking for top quality

Pepperstone is an Australian broker based out of Melbourne.   It offers competitive, full-featured trade execution through multiple platforms, including MetaTrader 4, browser-based entry, and mobile devices.   Customers can choose among 150+ tradable instruments in a large range of asset classes (including forex, index CFDs, commodities, metals, and cryptocurrencies) across the globe through a diverse range of account types that include commission-free execution and active trader benefits.     A recommended AUD $200 minimum deposit supports small trading accounts; extensive research and educational resources build users’ skill levels and profit-opportunity recognition. 

EUR/USD and index CFD executions offer industry-leading rates

MetaTrader 4, cTrader, WebTrader, and mobile access

Multiple liquidity venues with no dealing desk to trade against clients

Unclear which volume tiers will reduce execution costs

No single stock CFDs


Investopedia is dedicated to providing investors with unbiased, comprehensive reviews and ratings of online brokers. Our reviews are the result of six months of evaluating all aspects of an online broker’s platform, including the user experience, the quality of trade executions, the products available on their platforms, costs and fees, security, the mobile experience and customer service. We established a rating scale based on our criteria, collecting over 3,000 data points that we weighed into our star scoring system.

In addition, every broker we surveyed was required to fill out a 320-point survey about all aspects of their platform that we used in our testing. Many of the online brokers we evaluated provided us with in-person demonstrations of their platforms at our offices.

Our team of industry experts, led by Theresa W. Carey, conducted our reviews and developed this best-in-industry methodology for ranking online investing platforms for users at all levels. Click here to read our full methodology.

Article Sources

Forex.com. “Global Market Leader.” Accessed March 16, 2020.

IG Group. “Our history.” Accessed March 16, 2020.

IG Group. “Annual Report 2020,” Page 18. Accessed March 16, 2020.

CMC Markets. “Range of markets.” Accessed March 16, 2020.

CMC Markets. “Withdrawals.” Accessed March 16, 2020.

CMC Markets. “Order types and execution.” Accessed March 16, 2020.

OANDA. “Our History.” Accessed March 16, 2020.

OANDA. “How to open an account.” Accessed March 16, 2020.

OANDA. “MetaTrader4.” Accessed March 16, 2020.

London Capital Group. “Trade the world’s markets with LCG.” Accessed March 16, 2020.

London Capital Group. “TERMS AND CONDITIONS,” Page 23. Accessed March 16, 2020.

XTB. “Why XTB?” Accessed March 17, 2020.

GAIN Capital. “About Us.” Accessed March 17, 2020.

Forex.com. “Forex Trading.” Accessed March 17, 2020.

Forex.com. “Bitcoin Futures Trading.” Accessed March 17, 2020.

Pepperstone. “Who We Are.” Accessed March 17, 2020.

Pepperstone. “Our Platforms.” Accessed March 17, 2020.

Pepperstone. “Why Pepperstone?” Accessed March 17, 2020.

Pepperstone. “Commodities.” Accessed March 17, 2020.

Forex.com Review 2020


Recommended for forex traders looking for low fees and great research tools

Forex.com is a global FX and CFD broker established in 2001. Forex.com is the brand name of GAIN Capital, which is listed on the New York Stock Exchange. The company is regulated by several financial authorities, including the top-tier Financial Conduct Authority (FCA) in the UK or the US Commodity Futures Trading Commission (CFTC).

Forex.com is considered safe because it has a long track record, is regulated by top-tier financial authorities, and its parent company is listed on a stock exchange.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Forex.com pros and cons

Forex.com provides everything you need for forex trading: low forex fees, many currency pairs, and lots of technical research tools.

At the same time, it lacks some popular asset classes, such as real stocks or bonds. Stock CFD fees are high, and the desktop trading platform is not user-friendly.

Pros Cons
• Low forex fees • Limited product portfolio
• Great variety of currency pairs • High stock CFD fees
• Diverse technical research tools • Non-user-friendly desktop platform
Forex.com main features and highlights
��️ Country of regulation UK, USA, Canada, Japan, Cayman Islands
�� Trading fees class Low
�� Inactivity fee charged Yes
�� Withdrawal fee amount $0
�� Minimum deposit $50
�� Time to open an account 1-3 days
�� Deposit with credit card Available
�� Depositing with electronic wallet Available
�� Number of base currencies supported 7
�� Demo account provided Yes
��️ Products offered Forex, CFD, Crypto

Gergely Korpos

Author of this review

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Forex.com review

Forex.com has low fees for forex trades and stock index CFDs. On the other hand, stock CFD fees are high and there is an inactivity fee.

Pros Cons
• Low forex fees • Inactivity fee
• No withdrawal fee • High stock CFD fees
• Low stock index CFD fees
Forex.com fees snapshot
Assets Fee level Fee terms
EURUSD Low The fees are built into spread, 1.3 pips is the average spread cost.
GBPUSD Low The fees are built into spread, 2.4 pips is the average spread cost.
S&P 500 CFD Low The fees are built into spread, 0.4 is the average spread cost.
Inactivity fee Low £/$/€ 15 per month after one year of inactivity

How we ranked fees

We ranked Forex.com’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let’s go over some lingo related to broker fees. What you need to keep an eye on are trading fees, and non-trading fees.

  • Trading fees occur when you trade. These can be commissions, spreads, financing rates, and conversion fees.
  • Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of Forex.com for each asset class. For example, in the case of forex and stock index trading spreads, commissions and financing rates are the most important fees.

We compared Forex.com’s fees with those of two similar brokers we selected, Oanda and Interactive Brokers. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Forex.com alternatives.

To have a clear overview of Forex.com, let’s start with the trading fees.

Forex.com trading fees

Forex.com trading fees are low.

We know it’s hard to compare trading fees for forex brokers. So what we did was we compared brokers by calculating all the fees of a typical trade for selected products.

We picked popular instruments within each asset class usually offered by forex brokers:

  • Stock index CFDs: SPX and EUSTX50

A typical trade involves buying a leveraged product, holding it for one week and then selling it. For volume, we chose a $20,000 position for forex and a $2,000 position for stock index and stock CFD transactions. The leverage we used was:

  • 30:1 for forex
  • 20:1 for stock index CFDs

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let’s see the verdict for Forex.com fees.

Forex fees

Forex.com forex fees are low, below those of its closest competitors.

Forex.com forex benchmark fees of a $20,000 30:1 long position held for one week

Forex.com Oanda Interactive Brokers
EURUSD benchmark fee $12.6 $15.9 $17.9
GBPUSD benchmark fee $10.5 $11.9 $13.6
AUDUSD benchmark fee $12.0 $8.3 $12.0
EURCHF benchmark fee $4.9 $7.1 $7.1
EURGBP benchmark fee $9.9 $10.7 $13.0

Forex fees are built into spreads.

CFD fees

Forex.com has low stock index CFD fees but high stock CFD fees.

Forex.com CFD fees for a $2,000 long position held for one week

Forex.com Oanda Interactive Brokers
S&P 500 CFD benchmark fee $1.9 $1.0 $3.6
Europe 50 CFD benchmark fee $1.6 $0.9 $2.9
Apple CFD benchmark fee $21.8 $3.5
Vodafone CFD benchmark fee $26.0 $8.2

Stock index CFD fees are built into spreads, while stock CFD fees are charged via commission.

Forex.com stock CFD fee

Market Commission Minimum fee
US stocks $0.018 per share $10
UK stocks 0.08% of the trade value £10

Non-trading fees

Forex.com’s non-trading fees are average overall. It doesn’t charge withdrawal or account fees, but a $15 monthly fee is levied after one year of inactivity.

Forex.com non-trading fees

Forex.com Oanda Interactive Brokers
Account fee No No No
Inactivity fee Yes Yes Yes
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $0

Forex.com review
Account opening

Forex.com’s account opening is seamless and fully digital, with a low minimum deposit. On the other hand, account verification takes

2 business days, which is not the fastest on the market.

Pros Cons
• Fully digital • Relatively slow account verification
• Low minimum deposit
• User-friendly

Can you open an account?

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69% of retail CFD accounts lose money

Forex.com accepts customers from most countries, including the US. Notable exceptions include Hong Kong and New Zealand.

What is the minimum deposit at Forex.com?

The required Forex.com minimum deposit is $50 . This is a low amount as there are other brokers that require a minimum of $2,000 or more.

Account types

Forex.com provides three account types, which differ in their pricing structure and in the trading platforms available.

Forex.com account types

Account types Pricing Trading platforms
Forex.com account Higher spread and no commission Forex.com’s own platforms
MetaTrader account Higher spread and no commission MT4
DMA account Lower spread and commission of $2 per lot per trade Forex.com’s own platforms

When it comes to account ownership, Forex.com has additional options:

  • Individual – owned by an individual
  • Joint – owned by two or more individuals
  • Corporate – owned by a legal entity

How to open your account

Forex.com has a straightforward and fully digital account opening process. Online registration takes only 10-15 minutes. Our account was verified in 2 business days, which is a bit slower than at some other brokers.

It takes four steps to open a Forex.com account:

  1. Choose whether you want to use Forex.com’s own trading platform or MetaTrader 4, a third-party trading platform.
  2. Fill in your personal and financial information.
  3. Answer a couple of questions relating to your financial knowledge and trading history.
  4. Verify your identity and residency. You can upload a national ID card, passport or driver’s license to verify your identity. Utility bills and bank statements are accepted as proof of residency.

We ran into some problems during account verification. Forex.com rejected the uploaded proof of residency but did not tell us the reason. We think they should give more information when something goes wrong.

Forex.com review
Deposit and withdrawal

Forex.com provides multiple options for deposit and withdrawal, all free of charge. However, withdrawal is not possible with some credit cards.

Pros Cons
• Credit/Debit card available • Problem with credit card withdrawal
• Free withdrawal
• No deposit fee

Account base currencies

At Forex.com, you can choose from 7 base currencies: EUR, GBP, USD, AUD, CAD, CHF, JPY .

Base currencies at Forex.com vs similar brokers

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Forex.com Oanda Interactive Brokers
Number of base currencies 7 9 19

Why does this matter? For two reasons. If you fund your account in the same currency as your bank account or you trade assets in the same currency as your account base currency, you don’t have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. Revolut or Transferwise both offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Deposit fees and options

Forex.com charges no deposit fees. Besides bank transfer, you can use credit/debit cards and PayPal for deposit.

Forex.com deposit options

Forex.com Oanda Interactive Brokers
Bank transfer Yes Yes Yes
Credit/Debit card Yes Yes No
Electronic wallets Yes Yes No

A bank transfer can take several business days, while payment with a credit/debit card is instant.You can only deposit money from accounts that are in your name.

Forex.com withdrawal fees and options

Withdrawal at Forex.com is free of charge. Methods for withdrawal are the same as for deposits.

Forex.com withdrawal fees and options

Forex.com Oanda Interactive Brokers
Bank Transfer Yes Yes Yes
Credit/Debit card Yes No No
Electronic wallets Yes No No
Withdrawal fee $0 $0 $0

How long does it take to withdraw money from Forex.com? Bank transfers can take 2-3 business days, while credit/debit card withdrawal can take longer, up to 5 business days.

When we tested withdrawal, it took several weeks because we had a problem with credit card withdrawal. The reason for the problem was that Forex.com can’t send money to some MasterCard and Visa credit cards. Instead of credit cards, we had to withdraw via bank transfer, but before doing so, customer service had to add and approve our bank account. It would be great to know in advance which cards are accepted for withdrawal and which are not.

How do you withdraw money from Forex.com?

  • Log in to ‘MyAccount’
  • Click on ‘Funding’ and then select ‘Withdraw’
  • Fill in the required amount
  • Confirm your withdrawal

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Forex.com review
Web trading platform

Forex.com’s web trading platform is user-friendly and extremely customizable, with lots of order types. On the negative side, there is no two-step login and we found some bugs.

Pros Cons
• User-friendly • No two-step (safer) login
• Good customizability (for charts, workspace)
• Good variety of order types
Forex.com platforms to choose from
Trading platform Score Available
Web 4.3 / 5 stars Yes
Mobile 4.3 / 5 stars Yes
Desktop 3.0 / 5 stars Yes

Forex.com has two web trading platforms, Web Trader and MetaTrader 4. We tested Web Trader because it is Forex.com’s own platform, while MetaTrader 4 is provided by a third party.

Web Trader is available only in English.

Look and feel

Forex.com’s web trading platform is user-friendly and looks great.

It is extremely customizable. You can easily add, remove, or change the size and position of tabs to create your own unique trading platform. It also lets you pick between a light or dark theme and between “one-click” or “two-click” trading.

Login and security

Forex.com provides one-step login. Two-step authentication would be safer here.

Search functions

The web trading platform has good search functions. You can search by typing the name of the product you’re looking for or browsing a categorized product list.

Placing orders

You can use many order types, including some more sophisticated ones:

  • Market
  • Limit
  • Stop-loss
  • Trailing stop
  • One-cancels-the-other (OCO)

If you are not familiar with basic order types, read this overview.

There are also several order terms available:

  • Good till canceled (GTC)
  • Good till end of the day (GTD)
  • Good till time (GTT)

Alerts and notifications

The alert function lets you know when an asset reaches a price target. You also get a notification when your orders get fulfilled. This is a push notification, available on both web and mobile platforms. You can easily set alerts and notifications.

Portfolio and fee reports

Forex.com has clear portfolio and fee reports. You can find these under the ‘Reports’ tab and download them in PDF, XLS, XML and CSV.

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69% of retail CFD accounts lose money

Forex.com review
Mobile trading platform

Forex.com’s mobile trading platform looks nice and is easy to use. The search function is also great. However, there is no two-step login.

Pros Cons
• User-friendly • No two-step (safer) login
• Good search function
• Good variety of order types

Similarly to the web trading platform, Forex.com provides two mobile trading platforms: Forex.com’s own, and MetaTrader 4’s mobile trading platform. Both trading platforms are available on iOS and Android. In this review, we tested Forex.com’s own trading platform on Android.

Look and feel

The Forex.com mobile trading platform is user-friendly and well designed. However, features were sometimes quite slow to load.

Login and security

Forex.com provides only one-step login.

You can’t log in using biometric authentication. Offering this feature would make the login process more convenient.

Search functions

Search functions are good. You can search by typing the name of the asset you’re looking for or browse product categories.

Placing orders

You can use the following order types:

However, we didn’t find an option to set order time limits.

Alerts and notifications

You can easily set price alerts on the Forex.com mobile platform.

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69% of retail CFD accounts lose money

Forex.com review
Desktop trading platform

Forex.com’s desktop platform has the same functions as the web trading platform but lags behind in user-friendliness.

Pros Cons
• Clear fee report • Not user-friendly
• Good customizability (for charts, workspace) • No two-step (safer) login
• Good variety of order types • Poor design

Forex.com offers two desktop platforms, the Advanced Trading Platform and MetaTrader 4. Once again, we tested the Advanced Trading Platform as this is Forex.com’s own platform, while MetaTrader 4 is a third-party platform.

Forex.com’s desktop trading platform has the same functionality as the web trading platform. For example, you can use the same order types or price alerts.

On the downside, the desktop trading platform is less user-friendly and the design feels outdated. It was hard to navigate the platform and it felt too crammed with functions.

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69% of retail CFD accounts lose money

Forex.com review
Markets and products

At Forex.com, you can only trade with forex, CFDs and cryptos. Other asset classes, like real stocks or funds, are not available.

Forex.com is a forex broker, also offering some CFDs. To learn more about CFDs read our CFD trading tips.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Forex.com provides a great number of currency pairs and cryptocurrencies. The stock index, ETF and commodity CFD selections are also great. The stock CFD lineup is relatively thin, though.

Forex.com product selection

Forex.com Oanda Interactive Brokers
Currency pairs (#) 84 71 105
Stock index CFDs (#) 17 16 13
Stock CFDs (#) 270 7,100
ETF CFDs (#) 26
Commodity CFDs (#) 26 31
Cryptos (#) 8 2

You can change the default leverage level of the products, which is great.

Changing the leverage manually is a very useful feature when you want to lower the risk of your trade. For example, instead of trading with 5:1 leverage, you can set it to 2:1 in the case of stock CFDs. Be careful with forex and CFD trading, since the preset leverage levels are high, putting you at a high risk of losing your money.

Forex.com review

Forex.com has great and diverse research functions. It provides good charting tools, trading tips based on technical analysis, and high-quality market reports. On the other hand, it lacks fundamental data.

Pros Cons
• Good interactive chart • No fundamental data available
• Trading ideas
• High-quality market reports

You can find Forex.com’s research tools on its trading platforms or on the website under ‘Market Analysis’.

We ran into some bugs on the trading platform during our test. For example, when we opened Autochartist, it didn’t work.

Trading ideas

Forex.com also provides trading ideas based on technical analysis. You can find them on the platform if you click ‘Trading Central’.

Fundamental data

Forex.com doesn’t provide fundamental data.


Forex.com has great charting tools. You can easily edit and save your charts. There are

80 technical indicators and many editing tools, such as Fibonacci retracement or trendlines.

News feed

Forex.com doesn’t have news feeds.

On the other hand, there is an economic calendar, which lists upcoming macro events. When you select an event, you can view a short summary and check historical data.

You can also read market analysis written by Forex.com’s research team. You can find these articles under the ‘Market Analysis’ tab. We liked how news articles can be filtered based on various criteria.

Forex.com review
Customer service

Forex.com has great customer service on the phone. Finding live chat is a bit tricky, but responses are relevant and fast. On the negative side, email support is slow and answers aren’t always satisfactory.

Pros Cons
• Live chat • No 24/7 support
• Great telephone support • Poor email support
• 24-hour support Sunday to Friday

You can contact Forex.com via:

We were really satisfied with Forex.com’s phone support. They answered the phone instantly, and we got relevant answers.

If you prefer using live chat, click ‘Chat’. It opens a chatbot, which can answer some basic questions, like “How can I deposit?”. It’s a bit more tricky if you want to talk to a real person. You have to type ‘agent’, after which the chatbot offers to connect you with a sales or support agent.

Email response time is slow; during our test, it took 4 business days to receive a reply. The answers were not fully helpful as we merely got links to FAQ pages.

Forex.com’s customer service is not fully 24/7, though it is available 24 hours a day from Sunday to Friday.

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69% of retail CFD accounts lose money

Forex.com review

Forex.com does a great job in education, offering many ways to learn.

Pros Cons
• Demo account • No webinars
• Trading platform tutorial
• Educational videos

At Forex.com you can learn in the following ways:

  • Demo account
  • Platform tutorial videos
  • General educational videos
  • Quality educational articles
  • Trading glossary
  • Trading knowledge quiz

We liked the quality and structuring of the videos. You can choose from different topics, like fundamental analysis or risk management.

The quiz and trading glossary are unique educational tools. We found them really fun and useful.

The only thing we missed was webinars, as they are the best platform for asking trading professionals directly.

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69% of retail CFD accounts lose money

Forex.com review

Forex.com is regulated by many financial authorities, including the top-tier FCA. Its parent company, GAIN Capital is listed on the New York Stock Exchange.

Pros Cons
• Majority of clients belong to a top-tier financial authority None
• High level of investor protection
• Parent company listed on stock exchange

Is Forex.com regulated?

Yes, it is regulated by several financial authorities globally, such as the UK Financial Conduct Authority (FCA), or the US Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA).

Is Forex.com safe?

To be certain, we highly advise that you check two facts:

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

Forex.com operates several subsidiaries worldwide; which of these will serve you depends on your residency. The investor protection amount you’re eligible for depends on the country where the subsidiary serving you is located.

For example, if you are from the UK, you will sign up with GAIN Capital UK Ltd and will be eligible for investor protection of £85,000. GAIN Capital UK Ltd is regulated by the FCA, the UK regulator.

Not all investments are protected by SIPC. In general, SIPC covers notes, stocks, bonds, mutual funds and other investment company shares, and other registered securities. It does not cover instruments such as unregistered investment contracts, unregistered limited partnerships, fixed annuity contracts, currency, and interests in gold, silver, or other commodity futures contracts or commodity options.

Forex.com investor protection

Futures Commission Merchant (FCM)

Retail Foreign Exchange Dealer (RFED)

Commodity Futures Trading Commission (CFTC)

National Futures Association (NFA)

Country of clients Protection amount Regulator Legal entity
EEA £85,000 Financial Conduct Authority (FCA) GAIN Capital UK Ltd.
USA No protection GAIN Capital Group LLC
Canada $1,000,000 Investment Industry Regulatory Organization of Canada (IIROC) GAIN Capital – FOREX.com Canada Limited
Japan No protection Japanese Financial Services Authority (FSA) Gain Capital Japan Co.
All other clients No protection Cayman Islands Monetary Authority (CIMA) GAIN Global Markets Inc.

Forex.com provides negative balance protection for clients belonging to GAIN Capital UK Ltd. for forex spot and CFD trading, but only for retail clients from the European Union. Professional and non-EU clients are not covered with any negative balance protection.


Forex.com is a brand of GAIN Capital, a US-based investment company. This is important as a strong parent company lowers the chance that the company will go bust.

GAIN Capital is also listed on the New York Stock Exchange. It is a big plus for safety as Forex.com releases financial statements regularly and in a transparent manner.

Forex.com was established in 2001. The longer the track record of a broker, the more proof we have that it has successfully weathered previous financial crises.

Having a parent company listed on a stock exchange, providing financial statements, and being regulated by top-tier authorities are all great markers of Forex.com’s safety.

Forex.com review
Bottom line

Forex.com is a great forex broker regulated by several financial authorities, such as the UK FCA or the US CFTC.

On the positive side, it has low forex fees, many tradable currency pairs, and high-quality research tools.

It has some drawbacks though. Popular assets, like real stocks or bonds, are not provided. Stock CFD fees are quite high, and the desktop platform is not easy to use.

Since no withdrawal fee or inactivity fee kicks in until after one year, feel free to try Forex.com today.

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69% of retail CFD accounts lose money

8 best CFD trading platforms / brokers

For a second topic in our “trading platforms” series, after Top stock trading apps , let’s look into CFD trading platforms. One of the types of online trading, contract for difference ( CFD ) is a contract that enables one of the parties, seller or buyer, to obtain profit from asset price fluctuation.

8 top CFD trading platforms

“Where do I start?” – is a frequent question from inquisitive minds. CFD trading platforms is the apt option to start, a computer software as a gateway to a trading service, where one can buy/sell financial assets. Such platform typically provides various trading types, including CFDs, for transactions between traders directly, or via intermediary/broker/agent, allowing to trade remotely from anywhere. CFD trading may involve stocks, currencies, commodities, shares, etc., and is always performed in pairs (USD to EUR, Shell to Exxon). We’ve selected seven best CFD trading platforms based on usability, friendliness towards novices, reasonable commissions and other factors.


Account minimum: $200 | Max.leverage 1:30 | Avg.CFD margin: 30%

#1 social trading platform by eToro Group Limited, founded in 2007 in Cyprus (with offices in England and Israel). Positioned as innovative web platform for trading, eToro stands out from other CFD trading platforms due to social trading possibilities, a.k.a. mirror trading or copy trading – meaning that users may simply follow the actions of trusted brokers and do the same investments. This made it quite popular in 140 countries, having reached over 3 million accounts.

  • Social trading + investment platform, 2 in 1
  • CopyTrader feature – copy trades and deals
  • CopyFunds feature – copy markets (asset groups following trading strategies) and copy top trader funds
  • Ability to view transactions of any member for the whole period
  • Stop loss – set a minimum amount of money on account
  • 24/7 market hours
  • eToro Economic Calendar – to see events that may impact trades
  • Trading Academy – page with webinars, courses, blog

Note, that you can withdraw as little as $50, though a minimum withdrawal fee is $5. There is also a $10 inactivity fee, if you have not logged into account for 12 months. eToro complies with multiple regulations and bodies, takes the issue of cybersecurity seriously and is helpful to customers 24/5. In terms of contracts for difference, check out how CFDs on eToro work . Also, be aware of $25 wit hdrawal fee on every deal.

Pros: Quick account opening Reasonable fees and commissions User-friendly interface, multiple languages

Cons: High non-trading commissions Less trading assets in comparison to other platforms Inactivity fee


Account minimum: $100 | Max.leverage 1:300 | Avg.CFD margin: 3.33%

Plus500UK Ltd, represented in and oriented on UK, European, Asia-Pacific, South African markets, and accordingly regulated by British, Australian, Cyprian authorities. Although not available in Canada and the USA, Plus500 is a highly popular trading platform (over 5M downloads from the Play Store). Account deposit is at $100 minimum for debit/credit cards, $500 for bank transfers. CFDs for trading include stocks, forex, indices, commodities, and even cryptocurrencies. S&P500, Euro/Pound, Euro/Dollar, gold, oil… you got it.

  • Negative balance protection (guaranteed stop loss)
  • 2-step authentication
  • Price and real-time market alerts
  • Cryptocurrency CFDs – IOTA, Bitcoin, Litecoin, Ethereum
  • Free demo account without limitations
  • Economic calendar with relevant and real-time events
  • Risk management settings – e.g. limits to close at certain profit/loss, trailing stop
  • 24/7 online support

What makes Plus500 one of the most attractive CFD trading platforms is a zero fee (yes, zero) for multiple actions, i.e. deposits, forex quotes, open/close trades, live CFD prices. What users pay is a spread for opening a position (bid). Additional fees may incur for overnight trading, stop order, account inactivity. Also, note that when logging into account on two devices, one of those will be disconnected.

Pros: Keeping customer costs in real bank account Simple workflow, quick sign up online Multiple languages, round-the-clock support

Cons: No MT4 connectivity Inactivity $10 fee after 3 months Numerous customer complaints about scams


Account minimum: $20 | Max.leverage 1:200 | Avg.CFD margin: N/A

Capital.com was founded in 2020 with the idea to launch a trading app standing out of competition. The result was a massive trading platform, utilizing AI (SmartFeed) among many technical tools. SmartFeed technology carefully tracks traders activities and behavior to help identify trends, good deals, etc. In addition to encrypting the user data, Capital partners with RBS and Raiffeisen, one of the biggest banks, to store client funds.

  • Markets: 2000 shares, 21 indices, 29 cryptocurrencies, 135 Forex pairs
  • No fees for deposits, withdrawals, real-time quotes, opening/closing trades and more
  • Web and mobile trading application
  • Over 70 technical indicators, plus charts, price alerts, etc.

With zero commission for a variety of trades, Capital.com clearly makes one of the leading CFD platforms currently. It also goes the extra mile in explaining and educating about intricacies of contract-for-difference trading. You’ll find guides on leverage, long and short positions, profiting from rising and falling markets, hedging, etc.

Pros: $20 account minimum fund Advanced AI technology at work 24/7 withdrawal policy

Cons: Unclear average CFD margins High leverage ratio could lead to big loss

Account minimum: $250 | Max.leverage 1:200 | Avg.CFD margin: 5%

A proprietary, and primarily a web platform (with desktop and mobile applications too), supporting MT4, ProRealTime and L2 Dealer. The charts are quite advanced and flexible, e.g. with the option to set alerts on a specific indicator, and there are 22 indicators in total. Minimum deposit for live accounts is $250, while we can use a demo account first, requiring no amount at all. Sum up all these factors and we have IG as another contender for a best Fx and CFD trading platform.

  • Access to thousands of 24-hour share CFD markets
  • Split charts – view the same positions on multiple timeframes at the same time
  • Operational in 16 countries
  • Under FTSE 250 regulation
  • Automated trading options and “smart settings” (save deals and values)
  • Risk protection – to avoid negative equity, partial or full closing of positions
  • Cryptocurrency trading – Bitcoin, Ether, Litecoin, Ripple
  • Works on Chrome, Safari, Mozilla, Edge, IE (IG recommends Chrome)

On the web, IG is streaming news from Reuters and offers frequent research materials via Economic Calendar. Additionally, there is IG Community portal, where traders can discuss nuances among themselves or with IG staff. The platform allows social trading , a.k.a. mirror trading, however it isn’t an autonomous social trading platform.

Pros: Simple account signup, fast verification Qualitative trading platforms and tools Helpful and reliable customer service

Cons: Not supporting MT5 Social trading only partial Inactivity fee

Interactive Brokers

Account minimum: $0 | Max.leverage 1:500 | Avg.CFD margin: 4%

A global top-tier trading entity with 40+ years on market, IB Group now provides powerful trading software platform, TWS (Trader Workstation). It’s a place where investors can trade stocks, options, futures, bonds and funds on 125 markets within single account. Interactive Brokers is an online trading place with HQ in Connecticut, USA. Products include web portal (IBKR WebTrader), desktop app, mobile platform (IBKR Mobile for iOS and Android devices), IBot, API. There is “zero” minimum deposit policy to start off trading, although no account activity may lead to certain fee.

  • Universal account – view/trade multiple assets, trade CFDs in one window
  • Reports – including real-time trade alerts, margin information, cost analysis, etc.
  • Smart Routing technology to calculate a CFD reference price (the exchange-quote price for a specific share)
  • Transparent quotes – IB charges an honest commission on spreads and price movement, without requotes
  • FX Trader – with streaming quotes, indicators, volumes, pending trades, etc.
  • IBot – a personal helper for quick information on stocks, account balance, etc.
  • Portfolio Analyst – reporting and management tool with 200+ benchmarks
  • Offline installer of TWS software

Over 60 order types are accessible in TWS, from basic to complex algorithms for CFD trading. Commissions are lower than other platforms offer – depending on the index, starting rates are within 0.005% – 0.01% range. The platform also has risk management and monitoring tools for assets, and offers coherent real-time data for active traders to be able to react quickly.

Pros: Powerful and all-round trading software Excellent for market and portfolio analysis Low fees, transparent commissions

Cons: TWS will be difficult and time-consuming to start with Small or inactive accounts may get maintenance fee Regional restrictions in CFD trading

Account minimum: $250 | Max.leverage 1:10 | Avg.CFD margin: 3.33%

A leading European trading company, X-Trade Brokers, or just XTB, established in Poland in 2002. Beside CFD, FX, ETF, and own xStation 5 platform, it also has access to conventional MT4, and it is available as a web service, mobile app and desktop app. With $250 initial account deposit customers get access to 1,500 global markets. Nice bright design, fast speeds, excellent 24/7 support service, API and all the rest defines XTB as the cutting-edge service for professional traders and brokers.

  • XStation 5 for desktop, tablet, mobile (Android) and smartwatch
  • Trading calculator feature – to preview potential profits and losses
  • Stop loss guarantee / negative balance protection
  • Free market comments from brokers in audio format
  • Equity screening to discover trading opportunities
  • Advanced technical indicators, e.g. Fibonacci Retracement
  • Stock CFDs (1,500 equities) and ETF CFDs (60 units)
  • Leverage on CFDs up to 1:10
  • Live performance stats
  • Free mobile alerts

With vast number of investment products, indices, commodities, etc. available to trade or invest in, they seem to have it all, however XTB seems to be lacking in spread betting. Demo or live account, immediately after signing up, you will get a phone call to help and guide along the way.

Lots of functions are simple drag-and-drop, there’s a lot of analytical tools, screeners, heatmaps and indicators. Also, constant news feed and daily technical analysis and expert op-eds. Popular E UR/USD spread as of Q2 2020 was 0.00007 pips. There’s also a round turn commission of 0.16%.

Pros: Free educational materials online Multiple interface languages Customer support via email, chat, phone

Cons: XTB was fined in 2020 for asymmetric price slippage Unavailable in many countries Basic order types only


Account minimum: $1 | Max.leverage 1:50 | Avg.CFD margin: 10%

Founded in 1997, Oanda is one of the best CFD trading platforms both for advance and casual users. It offers trading tools for European, Asian and African countries, Canada and Australia. Oanda is available in web, desktop, mobile versions, as well as provides an API (for purposes of real-time trading, automation, etc.). Demo accounts without any limits, plus educational videos, webinars, Q&A sessions.

  • 80 indicators
  • Connectivity to MetaTrader4, NinjaTrader, MotiveWave, MultiCharts
  • MT4 open order indicator – to analyze market trends
  • Historical spreads – min/max/avg spread data for set periods
  • Price signals – set price up/down limits, or as simple moving average
  • Trading performance portal – visualizations of profits, losses, risk/reward ratio, etc.
  • Algo Labs site – for users to create own apps
  • FXTrade mobile trading platform (Android, iOS)

There are certain considerations about Oanda as well. Accounts do not have protection against negative balance/slippage, average spreads do not reflect fixed time periods, in the EU the platform operates in a “broker” mode. Average CFD margin is 10% (see margin rules for more).

Pros: Ability to open an account for just $1 Wide array of currency pairs, asset classes API, mobile trading and more sophisticated tools

Cons: Might be difficult for beginners Accounts with no slippage protection No CFDs for cryptocurrencies


Account minimum: $5,000 | Max.leverage 1:100 | Avg.CFD margin: 1%

A Swiss online bank, Dukascopy Bank , provides web and mobile trading services, including CFD, foreign exchange, etc., banking services, technological solutions. It is under the regulation of Swiss supervisory body FINMA . Desktop trading platform, titled JForex 3, contains hundreds of indicators, news feed, historical testing. Through it or MT4 traders can implement automated and algorithmic strategies. Both demo and live accounts, although CFD trading is available only for regular live accounts. The minimum deposit for account is probably the highest among all CFD trading platforms – $5,000.

  • Markets: oil, gas, copper, 5 soft commodities, 18 indices, 2 bonds, liquid stock CFDs
  • 24 trading hours for most instruments
  • Equal prices and trading rights for all clients (marketplace model)
  • Funding by credit card, deposits in 23 currencies
  • Deposit protection by a bank up to 100,000 CHF
  • MetaTrader 4 accounts support, 1:100 default leverage
  • Swiss Forex marketplace – SWFX – a proprietary service by Dukascopy
  • Fix API – to integrate, get real-time data and notifications, submit orders, etc.
  • Help – wiki, tutorials, webinars, seminars

CFD prices are in correlation with SWFX marketplace price technology, and every client may impact a price by own bids and offers. Commissions are clearly defined, yet to calculate average spreads, one has to study daily/monthly/quarterly SWFX performance data. There are also additional account management fees, volume commissions, outgoing transfers fees, withdrawal fees, etc.

Pros: JForex proprietary platform by a real Swiss bank Extensive research and analytic materials Good customer support 24/6

Cons: Large initial deposit High commissions for low deposit traders


CFD trading platforms: Main features
Demo account Min.deposit Min.fee Total pairs Max.leverage Mobile app API
Capital.com ✔️ $20 0 2000+ 1:200 ✔️ ✔️
Oanda ✔️ $1 N/A 65 1:50 ✔️ ✔️
IG ✔️ $250 0.5% N/A 1:200 ✔️ ✔️
Interactive Brokers ✔️ $0 0.05% 85 1:500 ✔️ ✔️
XTB ✔️ $250 0.08% 60 1:30 ✔️ ✔️
eToro ✔️ $200 0.09% 96 1:30
Plus500 ✔️ $100 0.01% 84 1:300 ✔️
Dukascopy ✔️ $5,000 0.01% 500+ 1:100 ✔️ ✔️

As a bottom line, we are compelled to say that the choice of CFD platform depends on factors, such as broker expertise level, personal or business investment requirements, user interface preferences, markets and commission rates. That’s why there are more trading platforms beyond our list above, that are popular too. For instance, Poems by Phillip Capital is in demand in Asia-Pacific region, Muslim countries seem to prefer Orex by ADSS Securities. eToro fits well for beginners, while City Index and LCG Trader are favored by skillful investors.

Financial pundits predict further increase of CFD transactions in 2020. CFD has its pros (access to global markets, lower margin rates, reasonable commissions and fees) and cons (high leverage, big risks of losing money), and therefore require a great deal of knowledge, trading experience and persistence.

P.S. Honorable mentions: AMarkets, City Index, LCG Trader, Orex, Poems, SaxoTrader, FxPro.

P.S.#2. You can trade CFD through Metatrader 4, Metatrader 5. Read a comparison of MT4 vs MT5.

What is CFD?

CFD is an intricate financial instrument, which is quite popular in countries like the UK, Austria, Switzerland, France, Germany, Russia, Singapore, Norway, etc., although not allowed in the USA, India. Its has compelling benefits, e.g. being a derivative tool – so no ownership of assets is required; huge leverage rates – allowing to operate with costs much higher than initial deposit; less strict limitations for trading. Overall, there’s a lot to learn if you want to start trading differences.

In trading, a contract for difference (CFD) is an agreement between a seller and a buyer on the asset value difference between the time of opening and closing a position. It offers traders an opportunity to profit from price fluctuations without owning an underlying asset.

How does CFD work?

Consider two positive scenarios to see how contract for difference works.

First scenario:

  • Leverage 1:1
  • You buy a Tesla CFD contract for $180
  • After 2 months , the contract is worth $240
  • You close the deal with a profit of $60

Second scenario:

  • Leverage 1:10
  • You buy an AMD CFD contract for $28
  • After 4 days , the contract is worth $34
  • You close the deal with a profit of $60

Leverage in trading may increase profit substantially, however do not forget it also has the opposite effect – a risk of losing the investment, if forecast is incorrect. In the worst-case scenario, you might even end up with a negative balance.

It is good though, due to competition, most brokers/platforms provide protection against negative balance. We recommend to apply a leverage of 1:10 maximum, as well as always have additional funds on a balance sheet, so that your contract does not close automatically before stock/contract growth.

What is a CFD trading platform?

CFD trading platforms are computer programs such as AMarkets (SaaS model), that serve as a trading platform. They provide access to various trading types, to conduct transactions between traders directly or via an intermediary. CFD trading may involve stocks, currencies, commodities, shares, etc., and is always performed in pairs (USD to EUR, Shell to Exxon).

By far the most popular platforms (a.k.a. brokers) are MetaTrader 4 and MetaTrader 5, check out MT4 vs MT5 comparison by the way. These CFD platforms really have all the necessary functionality, but the list does not end on MetaTrader.

cTrader is a platform for experienced traders, with unconventional tools for trading strategies. With access both to MetaTrader and cTrader, the latter offers customers more favorable terms on fees and commissions.

Some brokers offer personal trading platforms, for example Interactive Brokers with its IB Trader Workstation (TWS). It is designed for active traders and investors who work with several products. It contains all modern algorithms, a library of layouts, modules, assets.

These mentioned CFD broker platforms, along with XTB , Oanda , etc.are among leaders today. Yet, there are dozens of others to explore and choose the most suitable one. Check online tutorials, documentation and reviews for details.

CFD trading strategies

The two most popular trading methods are short- and long-position, and sometimes “intertrading” in-between.

  1. Long position – purchase amid rising prices on the market. An exchange trading participant buys an asset in anticipation of value growth in the future. With short-term forecasting skills, or monthly/annual forecasts, or through technical analysis, a trader makes profit in the end, even when price fluctuations are insignificant.
  2. Short position – purchase in a downturn. This strategy is appropriate when, when a trader predicts a decline asset price. Thus, an asset is sold on condition of possible future purchase at the lowest price. If forecast was wrong, and asset price rises, traders would lose an amount equal to deviation between asset value at opening and closing of a transaction. If a forecast turns out to be correct, the bidder makes a profit. Such method makes it possible to bid on the shortest possible intervals, even within a minute.

CFD commissions and fees

Commissions, fees, hidden fees, additional paid services, margins, spreads and more – all this you are going to encounter on trading platforms. Many CFD brokers may offer a choice of appropriate fees for your trading strategy.

Optionally, there may be a guaranteed stop loss (for an additional fee) or other additional services and tools. Account inactivity, in many cases with CFD trading platforms, will be charged too. Therefore, we’d advise to carefully study all fees and commissions before choosing a platform.

Let’s highlight one concrete example of what we may be dealing with. Take XTB “Pro” account, which we chose after consulting with Broker Chooser portal, helping to calculate fees of real CFDs as of 1 week sale. The condition was an asset purchased at $2,000, and 5:1 leverage. At the exit, when buying Apple Stock CFDs the commission is $18.1, when buying Vodafone CFDs – $24.4.

Under “Standard” account, a trader would only pay higher spreads, and no other fees. You can get acquainted in detail with the table of XTB fees and commissions for this particular broker.

How to calculate CFD fees?

There is no single formula for all CFD platforms/brokers, because one may earns on spreads, while another has additional commissions and fees. Many brokers provide their own formulas and even calculators for deducting fees. For example, in AMarkets standard plan no fees, but in Amarkets ECN plan is a 2.5$ commission per 1 lot.

Minimum deposit and withdrawal

In order to start trading CFDs, you first need to open an account with a broker. Typically, you need to place between $0 to $10,000, depending on the broker. In light of competition, the initial deposit has been lowered to $0-250 in most cases.

For deposit, Visa or MasterCard credit card, bank transfer, PayPal, and in some cases cryptocurrency, will do. In general, this process does not differ much from buying a product online, only here you may need to verify your identity.

Withdrawal of funds occurs upon request, often to a credit card or a bank account. The amount, method and timing for withdrawal can also vary from broker to broker, so study their conditions beforehand.

CFD pros & cons

Benefits of CFD trading:

  • Higher leverage . Unlike traditional trading, the contract for difference has a higher leverage and is subject to regulation. In some cases, the leverage reaches 1:500 ration, which allows the investor to get more potential profit with less capital, but it is also worth remembering that this could increase the loss. Thus, CFDs are great for a small investor.
  • Global market access . Today, all CFD platforms provide access to all major global markets, with round-the-clock activity.
  • No shorting rules or borrowing stock . Some markets install rules that prohibit shorting , require traders to borrow the instrument before selling short, or margin requirements for short and long positions. CFD instruments, on the other hand, allow shorting any time without borrowing costs because traders do not own assets.
  • No daily trading requirements. Unlike markets requiring a minimum amount of capital for daily trading or limiting daily transactions, CFD market is not bound this way, account holders can conduct day trading as they wish.
  • Variety of trading opportunities. Brokers offer CFDs on stocks, indices, currencies and commodity contracts, any of which could be a decent alternative to exchanges.
  • Execution without fees. The same types of orders as with traditional trading are offered, including stops, limits and conditional orders, e.g. “One Cancels the Other” and “If Done”. Some CFD platforms offer guaranteed stops that charge a service fee. Brokers earn money through spreads, and many of them do not charge any commissions or fees at all.
  • Ability to earn money both via rising or falling prices.
  • Weak regulation . CFD industry is not strictly regulated, broker reputation and proficiency is based largely on trust rather than government regulation.
  • The risks . CFD trading is volatile and requires close monitoring. There are liquidity and margin risks that need to be maintained. If you cannot cover the cost reduction, a provider may close your position and you will have to cover the loss. Overall, risk of leverage exposes you to greater potential profit, as well as large potential loss. Although stop loss limits are available from many CFD providers, they cannot fully guarantee no loss.
  • Spreads and commissions . Spread on entry and exit, basically, eliminates the possibility of profit from small transactions. Spread also reduces winning trades in relation to base price. Some brokers add hidden fees too.

Q: How to trade CFDs?
A: To start trading, you need to determine the market, determine the position size and open a deal, monitor your position and adhere to your exit strategy.

Q: What is CFD leverage/trade leverage?
A: Leverage is the corresponding ratio of trader’s funds to the size of broker’s credit. In other words, leverage is a borrowed capital to increase the potential returns.

Q: Is CFD trading safe?
A: Even with financial literacy and a relevant trading strategy, there is always a risk of losing your capital.

Q: Why is CFD banned in the USA?
A: CFDs are derivatives, they are traded OTC (over-the-counter), meaning they are not traded through regulated exchanges. They were also banned in the USA because the majority of traders were constantly losing on CFDs.

Q: How to buy CFDs?
A: Decide which market you want to trade on, click Buy if you think the price will increase in value, select your trade size and choose how many CFDs you want to trade.

Q: What is a CFD margin?
A: Margin is the amount of money required as a “good deposit” to open a position.

Q: How do CFD brokers make money?
A: The first transparent way in which CFD brokers make money is through spreads quoted on each market. Also brokers/platforms charge a commission in form of percentage on the size of a transaction.

Q: What does CFD pairs mean?
A: Pairs trading is the action of buying one instrument and simultaneously selling another. It is called “pairs trading” because you are, essentially, trading a pair of CFDs.

Q: What is a CFD spread?
A: In CFD trading, a spread is the difference between the purchase price and the selling price quoted for an instrument. The buy price quoted will always be higher than the sell price quoted.

Q: What are the best CFD brokers?
A: You can choose a broker/platform from our list in accordance with your trading strategy, fees and other preferences.

Q: Is CFD same as Forex?
A: No. The main difference between CFD trading and Forex trading is that CFD involves different types of contracts than Fx (indices, energy, and metals, etc.) whereas Forex is pure currency trading.

Q: CFD vs stock trading
A: CFD trading mimics share trading with the exception that in a contract for difference, you actually do not own the asset, unlike company shares.

Q: CFD vs options
A: Options deliver a number of benefits to CFDs and might be a part of risk management. Options have a “real world” value beyond that of the CFD, although they are more complicated. So, for experienced traders in certain situations, options may well represent a better reward-to-risk ratio than CFD trading.

A: As a CFD trading alternative, ETFs are better for those seeking a passive investment. Yet, CFD trading allows to access a bigger range of markets using a broker account only.

Best Binary Options Brokers 2020:
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  • Binomo

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