How to Choose the Best CFD Trading Platform & What is a CFD?

Contracts for Difference (CFDs) are an investment tool that allows traders to speculate on the price movement of various underlying assets. The benefits of CFDs include the ability to trade on margin, leverage and short sell.

CFD trading platforms allow you to access CFD markets with ease, while providing you with a wide range of features such as charting and technical analysis tools, news feeds, social media integration and mobile trading apps so that you can stay on top of your trades wherever you are.

Choosing a CFD trading platform takes time and research. When choosing a platform, it’s important to consider factors such as the number of assets available and their liquidity levels, as well as whether or not there are any restrictions placed on execution methods and withdrawal times.

In this article we will explain how to choose the best cfd trading platform for your needs and what features you should look out for when making your decision.

CFD Trading Platforms

When you start trading, you need to choose a suitable CFD trading platform for your needs. There are many types, but some are better than others when compared to others. Some platforms have more advanced features than others, while some provide simpler solutions for beginners. Here is how to choose the best CFD trading platform for your needs:

Speed and reliability of the platform.

 A slow or unreliable platform can cause problems for traders who need to be able to place orders quickly and accurately. A fast and reliable platform is essential for active traders who need to be able to react quickly in order to take advantage of market movements.

Availability of features such as live chat support or phone support from customer services staff who can help answer questions or resolve issues quickly if they arise during trading hours.

The ability for traders who prefer to trade manually rather than using automated trading strategies (robots) will want access to powerful charting tools which allow them to analyse price movements more closely over time spans ranging from minutes all the way up to years if necessary.

Before entering the market with your money, it is important to choose a reputable broker that offers high-quality services. In other words, you should consider the following factors when choosing a CFD broker. Oanda is best broker in the world

Liquidity

This is perhaps one of the most important factors when choosing a platform for your online trading activities. If there aren’t enough traders using this specific platform then it means that there will be fewer buyers and sellers available at any given time which will result in slippage and potentially higher spreads between buy and sell orders. You want to avoid these situations at all costs because they can cost you money!

Customer Support

A good customer support team is vital for any online broker. You should always have someone to contact if something goes wrong or if you have any questions about trading. Make sure that this person can speak your language and has enough knowledge about how everything works in order to be able to solve any issues that may arise during trading sessions.

Trading Tools

Different brokers offer different types of trading platforms; some offer more advanced features than others while some focus more on simplicity than features. Find out which features are most important for you and look for brokers that offer them in order not to waste time,

Is it regulated?

You want to deal with a regulated broker because this ensures that you will be protected if something goes wrong. The Financial Conduct Authority (FCA) regulates UK brokers and has strict rules on how they must conduct their business. If you trade with an unregulated broker, you may not be able to claim compensation if something goes wrong.

Can I trade on my phone?

If you have an iPhone or Android device, it’s important that your broker offers mobile trading apps so that you can trade wherever you are. Some brokers even offer web-based apps that are compatible with tablets and smartphones.

Is there a live chat option?

Some brokers offer 24/7 live chat support while others have limited hours of operation in which they provide assistance by email or phone instead. It’s important to make sure that your preferred broker offers reliable customer service before signing up with them because sometimes problems can arise when you least expect them, like during the middle of the night!

Set your objectives and create a checklist.

Define your goals and create a checklist of features that you think will help you achieve them. For example, if you’re a beginner trader and want to learn more about this type of investment, then look for platforms that provide educational tools and resources. If you’re looking for more advanced features, such as live streaming quotes or the ability to place trades directly from charts, then make sure that the platform offers those features.

Research your options.

Once you have defined what you need from your CFD trading platform, it’s time to research the available options. There are thousands of brokers offering CFDs around the world — some regulated by local authorities such as the FCA (Financial Conduct Authority) or CySEC (Cyprus Securities and Exchange Commission).

Conclusion

Are you looking for an honest CFD trading platform review with all the pros and cons taken into consideration? If yes, we have just written it for you! CFDs are financial instruments that allow traders to profit from either rising or fall of the underlying asset price. Almost anything can be a CFD trading instrument including currency pairs, stocks, and commodities.

We can recommend most platforms from a technical point of view but traders should carefully research what kind of assets they want to trade on each platform to avoid nasty surprises.  We may earn money or other remuneration for our reviews or mentions of services and products, but all opinions expressed here are our own and based on real experience.