In the UK, there are numerous CFD brokers that offer their services to traders. According to Traders Union, choosing the best CFD broker can be a daunting task for both beginner and experienced traders.
CFDs or contracts for difference are popular financial instruments that allow traders to speculate on the price movements of a wide range of assets, including stocks, currencies, commodities, and indices, without owning the underlying assets.
In this Traders Union article, we will highlight the top 10 best CFD brokers in the UK based on our research and analysis.
1. IG
IG is a leading CFD broker in the UK with over 178,000 clients worldwide. The broker offers a wide range of CFDs, including forex, indices, shares, commodities, and cryptocurrencies. IG is regulated by the Financial Conduct Authority (FCA) and has won numerous awards for its trading platform and customer service.
2. CMC Markets
CMC Markets is another popular CFD broker in the UK that has been in operation since 1989. The broker offers over 9,000 CFD instruments, including forex, shares, indices, commodities, and treasuries. CMC Markets is regulated by the FCA and is well-known for its competitive spreads and advanced trading platform.
3. Plus500
Plus500 is a top-rated CFD broker that is listed on the London Stock Exchange. The broker offers a wide range of CFDs, including forex, shares, commodities, indices, and cryptocurrencies. Plus500 is regulated by several financial authorities, including the FCA, CySEC, and ASIC, and is known for its intuitive and user-friendly trading platform.
4. eToro
eToro is a popular CFD broker that is well-known for its social trading platform. The broker offers a wide range of CFDs, including stocks, forex, commodities, and cryptocurrencies. eToro is regulated by the FCA and is well-known for its user-friendly platform and educational resources.
5. City Index
City Index is a well-established CFD broker that has been in operation since 1983. The broker offers over 12,000 CFD instruments, including forex, shares, indices, commodities, and cryptocurrencies. City Index is regulated by the FCA and is known for its advanced trading platform and educational resources.
6. XM
XM is a popular CFD broker that offers a wide range of CFDs, including forex, stocks, indices, and commodities. The broker is regulated by several financial authorities, including the FCA, ASIC, and CySEC, and is well-known for its competitive spreads and fast trade execution.
7. Markets.com
Markets.com is a top-rated CFD broker that offers a wide range of CFDs, including forex, shares, commodities, and cryptocurrencies. The broker is regulated by the FCA and CySEC and is well-known for its advanced trading platform and educational resources.
8. Pepperstone
Pepperstone is a leading CFD broker that is well-known for its competitive spreads and advanced trading platform. The broker offers a wide range of CFDs, including forex, shares, indices, and commodities, and is regulated by several financial authorities, including the FCA and ASIC.
9. OANDA
OANDA is a popular CFD broker that has been in operation since 1996. The broker offers a wide range of CFDs, including forex, indices, and commodities, and is well-known for its competitive spreads and fast trade execution. OANDA is regulated by the FCA and several other financial authorities.
10. FXCM
FXCM is a well-established CFD broker that has been in operation since 1999. The broker offers a wide range of CFDs, including forex, stocks, indices, and commodities, and is regulated by several financial authorities, including the FCA and ASIC. FXCM is known for its advanced trading platform and educational resources, making it a popular choice for beginner traders.
11. Free Backtesting Software
According to Traders Union, backtesting is a crucial process for traders to evaluate their trading strategies and identify potential flaws before deploying them in live markets. Backtesting involves testing a trading strategy using historical data to see how it would have performed in the past. However, manual backtesting can be time-consuming and tedious, which is where free backtesting software comes in. In this section of the article, we will explore some of the best free backtesting software available for traders.
12. TradingView
TradingView is a popular web-based platform that offers a wide range of features, including charting, analysis, and social trading. The platform also offers a free backtesting feature that allows traders to test their trading strategies using historical data. TradingView supports a wide range of assets, including stocks, forex, and cryptocurrencies.
13. Backtrader
Backtrader is a popular open-source backtesting framework that allows traders to test their trading strategies using historical data. The software is highly customizable and supports a wide range of data feeds and brokerages. Backtrader also offers a comprehensive documentation and support community, making it a popular choice for advanced traders.
14. Quantopian
Quantopian is a cloud-based platform that offers a wide range of features, including data research, backtesting, and algorithmic trading. The platform offers a free backtesting feature that allows traders to test their trading strategies using historical data. Quantopian also offers a comprehensive documentation and support community, making it a popular choice for beginner traders.
15. Amibroker
Amibroker is a popular backtesting and trading software that is widely used by traders and investors. The software supports a wide range of assets, including stocks, futures, forex, and options. Amibroker also offers a comprehensive backtesting feature that allows traders to test their trading strategies using historical data.
16. Zipline
Zipline is an open-source backtesting library that is written in Python. The software supports a wide range of assets, including stocks, futures, forex, and options. Zipline also offers a comprehensive documentation and support community, making it a popular choice for both beginner and advanced traders.
17. NinjaTrader
NinjaTrader is a popular trading platform that offers a comprehensive backtesting feature. The software supports a wide range of assets, including forex, futures, and options. NinjaTrader also offers a comprehensive documentation and support community, making it a popular choice for both beginner and advanced traders.
18. MultiCharts
MultiCharts is a popular trading platform that offers a comprehensive backtesting feature. The software supports a wide range of assets, including forex, futures, and options. MultiCharts also offers a wide range of features, including charting, analysis, and trading automation.
Conclusion:
In conclusion, choosing the best CFD broker can be a daunting task for both beginner and experienced traders. In this Traders Union article, we highlighted the top 10 best CFD brokers in the UK based on our research and analysis. We also explored some of the best free backtesting software available for traders.
Backtesting is a crucial process for traders to evaluate their trading strategies and identify potential flaws before deploying them in live markets. With the help of free backtesting software, traders can save time and make more informed trading decisions.