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Best CFD brokers in the Caribbean Netherlands in 2020

To find the best CFD broker in the Caribbean Netherlands for 2020, we went ahead and did the research for you. After testing, analyzing and comparing 71 quality online brokers, we arrived at our top 5 in the Caribbean Netherlands. We show you our list, you pick your winner. And now, without further ado...

The top 5 picks for the best CFD brokers of 2020 for citizens in the Caribbean Netherlands:

  1. XTB is the best CFD broker in the Caribbean Netherlands in 2020. Low forex and stock index CFD fees. Free and fast deposit and withdrawal. Easy and fast account opening.
  2. IG is number two. First-class web trading platform. Superb educational tools. Great deposit and withdrawal options.
  3. Plus500 is third. Easy-to-use platform. Low CFD fees. Great account opening.
  4. ETX Capital, in fourth place. Free and multiple deposit and withdrawal options. Easy and fast account opening. Great educational tools.
  5. Number five is FXTM. Superb customer service. Great educational tools. Digital and fast account opening.
Best CFD brokers in 2020 for Caribbean citizens
Broker Info Score
#1 XTB Global CFD and forex broker 4.7
#2 IG Global CFD and forex broker 4.6
#3 Plus500 Global CFD broker 4.4
#4 ETX Capital Global CFD and forex broker 4.3
#5 FXTM Global CFD and forex broker 4.2

What makes a good CFD broker? First of all, they need to offer fair fees and have a good safety score. It must also be easy to open an account and deposit money. They should provide access to many products and have a great platform.

That's easy to list, but harder to figure out. We test brokers along close to 300 criteria with real accounts and real money. We know what's up. You can find the details of all the ranking criteria in our methodology.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money. If you don't have a clue what a CFD is, you should start by reading more about CFD trading.

Not sure which broker to choose? For a tailored recommendation, check out our broker finder tool. Just enter your country and you will see only the relevant brokers. Want more details? Compare brokers with this in-depth comparison table.

And now, let's see the best CFD brokers for Caribbean citizens in 2020 one by one. Starting with the winner, XTB.

XTB Logo

#1 Best CFD broker
XTB

4.7

XTB is a global CFD and forex broker with headquarters in London and Warsaw, founded in 2002. The company is regulated by several financial authorities worldwide, including the top-tier UK Financial Conduct Authority (FCA). In addition, XTB is listed on the Warsaw Stock Exchange, and as such is required to disclose its financials.

XTB is considered safe because it has a long track record, is listed on a stock exchange, and publishes its financial statements transparently.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% 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.

Recommended for forex and cfd traders looking for low fees and great deposit/withdrawal service

Pros Cons
Low forex and stock index CFD fees High fees for stock CFDs
Free and fast deposit and withdrawal Product portfolio limited mostly to CFDs and FX
Easy and fast account opening Limited fundamental data

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79% of retail CFD accounts lose money

#1 XTB
Fees
4.1

XTB has low forex and stock index CFD fees. There is also no withdrawal fee for most transfers. On the other hand, stock CFD fees are high, and XTB also charges an inactivity fee.
Pros Cons
Low forex fees High stock CFD fees
Low stock index CFD fees Inactivity fee
No withdrawal fee for transfers above $100
XTB trading fees
XTB IG Plus500 ETX Capital FXTM
S&P 500 index CFD fee $1.9 $1.9 $2.1 $2.2 $1.6
Europe 50 index CFD fee $1.9 $1.6 $1.9 $2.1 $2.4
EURUSD benchmark fee $14.8 $16.8 $18.1 $19.5 $18.5
GBPUSD benchmark fee $10.8 $14.1 $13.7 $16.1 $15.9

All spreads, commissions and financing rate for opening a position, holding for a week, and closing.

XTB non-trading fees
XTB IG Plus500 ETX Capital FXTM
Account fee No No No No No
Inactivity fee Yes Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $3

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79% of retail CFD accounts lose money

#1 XTB
Account opening
5.0

XTB's account opening process is hassle-free, straightforward and fully digital. Your account will be ready for trading on the same day.
Pros Cons
Fast None
Fully digital
No minimum deposit
XTB minimum deposit and time to open an account
XTB IG Plus500 ETX Capital FXTM
Minimum deposit $0 $0 $100 $100 $10
Time to open account 1 day 1-3 days 1 day 1 day 1 day

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79% of retail CFD accounts lose money

#1 XTB
Deposit and withdrawal
4.5

XTB deposits and withdrawals are fast, mostly free, and can be done via several channels.
Pros Cons
Credit/Debit card available Few minor account currencies accepted
Free withdrawal
No deposit fee
XTB withdrawal fee and options
XTB IG Plus500 ETX Capital FXTM
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No Yes Yes Yes Yes
Electronic wallets No Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $3

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79% of retail CFD accounts lose money

#1 XTB
Markets and products
2.8

XTB's default product selection includes only CFDs, forex and crypto. Some European clients can also trade real stocks and ETFs. Popular asset classes like bonds, mutual funds, options and futures are not available.
XTB CFD markets
XTB IG Plus500 ETX Capital FXTM
Currency pairs (#) 49 205 70 62 48
Stock index CFDs (#) 42 78 26 21 11
Stock CFDs (#) 1,800 10,500 1,900 2,500 200
ETF CFDs (#) 114 1,900 95 89 -
Commodity CFDs (#) 22 47 25 41 3
Bond CFDs (#) - 13 - 13 -
Cryptos (#) 25 8 14 5 4
XTB product selection, besides CFDs
XTB IG Plus500 ETX Capital FXTM
Stock Yes Yes No No Yes
ETF Yes Yes No No No
Forex Yes Yes No Yes Yes
Fund No No No No No
Bond No No No No No
Options No Yes No No No
Futures No No No No No
Crypto Yes Yes No Yes Yes

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79% of retail CFD accounts lose money

#1 XTB
Web trading platform
4.4

XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, two-step login is not available.
Pros Cons
User-friendly No two-step (safer) login
Clear fee report
Good search function
Best CFD brokers - XTB trading platform
XTB trading platforms
XTB IG Plus500 ETX Capital FXTM
Web platform score 4.4 stars 5.0 stars 4.4 stars 4.0 stars 2.8 stars
Mobile platform score 4.4 stars 5.0 stars 4.9 stars 4.5 stars 3.8 stars
Desktop platform score 4.4 stars - - 3.3 stars 3.3 stars
Can you set leverage manually? No No No Yes Yes

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79% of retail CFD accounts lose money

#1 XTB
Verdict

XTB is a great CFD and forex broker. It is regulated by several financial authorities globally, including the UK's FCA. The company is listed on the Warsaw Stock Exchange.

On the plus side, its forex and stock index CFD fees are low, and the deposit and withdrawal process is fast and mostly free. We also liked the seamless and hassle-free account opening process.

XTB has some drawbacks, though. Stock CFD fees are high. The product range is mainly limited to FX and CFDs, although real stock and ETF trading is available in some European countries. Fundamental data offered by XTB covers only a few basics such as P/E.

We recommend XTB for clients who prefer forex or CFD trading, and also want to enjoy great deposit and withdrawal options along with fast account opening. Feel free to test it using a demo account.

XTB
Summary XTB is a global CFD and forex broker, listed on the Warsaw Stock Exchange and regulated by financial authorities including the UK FCA, Poland's KNF, and Cyprus's CySec.
Fees score 4.1 stars
Recommended for Forex and CFD traders looking for low fees and great deposit/withdrawal service

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79% of retail CFD accounts lose money

IG Logo

#2 Best CFD broker
IG

4.6

IG was established in the UK in 1974 and is one of the biggest CFD brokers in the world. It is regulated by several bodies globally, including top-tier regulators like the UK's Financial Conduct Authority (FCA) and Germany's Federal Financial Supervisory Authority (BaFin). IG Group is listed on the London Stock Exchange.

IG is considered safe because it is listed on a stock exchange, discloses its financials and is overseen by top-tier regulators.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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. CFDs are not provided for US clients. Forex trading involves risk. Losses can exceed deposits.

Recommended for traders of any experience level looking for an easy-to-use trading platform

Pros Cons
First-class web trading platform High stock CFD fees
Superb educational tools Limited product portfolio
Great deposit and withdrawal options Slow customer support

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76% of retail CFD accounts lose money

#2 IG
Fees
3.4

IG has low fees for stock index CFDs, while forex fees are average to low. There is no fee for withdrawals and an inactivity fee is charged only after 2 years. On the negative side, the stock CFD fees are high.
Pros Cons
No withdrawal fee High stock CFD trading fees
Low stock index CFD trading fees
IG trading fees
XTB IG Plus500 ETX Capital FXTM
S&P 500 index CFD fee $1.9 $1.9 $2.1 $2.2 $1.6
Europe 50 index CFD fee $1.9 $1.6 $1.9 $2.1 $2.4
EURUSD benchmark fee $14.8 $16.8 $18.1 $19.5 $18.5
GBPUSD benchmark fee $10.8 $14.1 $13.7 $16.1 $15.9

All spreads, commissions and financing rate for opening a position, holding for a week, and closing.

IG non-trading fees
XTB IG Plus500 ETX Capital FXTM
Account fee No No No No No
Inactivity fee Yes Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $3

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76% of retail CFD accounts lose money

#2 IG
Account opening
4.4

IG's account opening is seamless and fully digital. There is no minimum deposit for bank transfers and a low, $/€300 minimum deposit for credit/debit cards and PayPal. On the other hand, account verification takes around 3 business days, which is slower than at some other brokers.
Pros Cons
Fully digital Slower account opening
Low minimum deposit
No minimum deposit for bank transfer
IG minimum deposit and time to open an account
XTB IG Plus500 ETX Capital FXTM
Minimum deposit $0 $0 $100 $100 $10
Time to open account 1 day 1-3 days 1 day 1 day 1 day

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76% of retail CFD accounts lose money

#2 IG
Deposit and withdrawal
4.5

IG offers free and fast deposits and withdrawals. There are various options for funding your account, including traditional methods such as bank wire transfer and credit card funding, as well as PayPal.
Pros Cons
Credit/Debit card available None
Free withdrawal
No deposit fee
IG withdrawal fee and options
XTB IG Plus500 ETX Capital FXTM
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No Yes Yes Yes Yes
Electronic wallets No Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $3

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76% of retail CFD accounts lose money

#2 IG
Markets and products
3.5

At IG, most clients can only trade with CFDs, forex and options. There are literally thousands of CFDs available to trade. Residents in the UK and some other countries can also trade with real stocks. Other popular assets, however, like mutual funds and bonds, are not available.
IG CFD markets
XTB IG Plus500 ETX Capital FXTM
Currency pairs (#) 49 205 70 62 48
Stock index CFDs (#) 42 78 26 21 11
Stock CFDs (#) 1,800 10,500 1,900 2,500 200
ETF CFDs (#) 114 1,900 95 89 -
Commodity CFDs (#) 22 47 25 41 3
Bond CFDs (#) - 13 - 13 -
Cryptos (#) 25 8 14 5 4
IG product selection, besides CFDs
XTB IG Plus500 ETX Capital FXTM
Stock Yes Yes No No Yes
ETF Yes Yes No No No
Forex Yes Yes No Yes Yes
Fund No No No No No
Bond No No No No No
Options No Yes No No No
Futures No No No No No
Crypto Yes Yes No Yes Yes

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76% of retail CFD accounts lose money

#2 IG
Web trading platform
5.0

IG's web trading platform is great for both beginners and professional traders. It is easy to use, has all the necessary functions and can be customized.
Pros Cons
User-friendly None
Clear fee report
Two-step (safer) login
Best CFD brokers - IG trading platform
IG trading platforms
XTB IG Plus500 ETX Capital FXTM
Web platform score 4.4 stars 5.0 stars 4.4 stars 4.0 stars 2.8 stars
Mobile platform score 4.4 stars 5.0 stars 4.9 stars 4.5 stars 3.8 stars
Desktop platform score 4.4 stars - - 3.3 stars 3.3 stars
Can you set leverage manually? No No No Yes Yes

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76% of retail CFD accounts lose money

#2 IG
Verdict

IG is one of the biggest and most reliable CFD brokers. It is regulated by several financial authorities around the world. IG Group is listed on the London Stock Exchange.

IG has one of the best web trading platforms BrokerChooser has tested. The deposit and withdrawal conditions are great. You can also expand your knowledge with great educational materials.

On the other hand, there are some drawbacks. The stock CFD fees are high and the product portfolio in most countries is limited to forex, CFDs and options. Customer support could be better.

Feel free to test IG's first-class trading platform, since there is no minimum funding amount for bank transfers and you can also easily open a demo account. 

IG
Summary IG is a CFD and forex broker. It is listed on the London Stock Exchange and regulated by several authorities globally, including the top-tier FCA.
Fees score 3.4 stars
Recommended for Traders of any experience level looking for an easy-to-use trading platform

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76% of retail CFD accounts lose money

Plus500 Logo

#3 Best CFD broker
Plus500

4.4

Plus500 is a London Stock Exchange-listed global CFD broker that was founded in 2008 in Israel. It is regulated by several international financial authorities, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

Plus500 is considered safe because it is listed on a stock exchange, discloses its financials and is regulated by several top-tier financial authorities.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% 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.

Disclaimer for daytraders: At Plus500, scalping is defined as "A trading strategy based on the notion that client transactions are opened and closed within 2 minutes limit in order to accumulate quick profits from small price changes." If Plus500 believes you were following this strategy, your account might be blocked and closed. Therefore, if you plan to execute trades within 2 minutes, Plus500 is not your broker.

a trading strategy based on the notion that Client transactions are opened and closed within two (2) minutes limit in order to accumulate quick profits from small price changes

Recommended for experienced traders looking for an easy-to-use platform and a great user experience

Pros Cons
Easy-to-use platform Limited product range, only CFDs
Low CFD fees Minimal research tools
Great account opening Mediocre educational section

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76.4% of retail CFD accounts lose money

#3 Plus500
Fees
3.6

Plus500 has low CFD fees and average forex fees. The non-trading fees are average as well. Although the broker charges an inactivity fee, it is applied only if you are not even logging in to your account.
Pros Cons
Low trading fees Inactivity fee
No withdrawal fee
Plus500 trading fees
XTB IG Plus500 ETX Capital FXTM
S&P 500 index CFD fee $1.9 $1.9 $2.1 $2.2 $1.6
Europe 50 index CFD fee $1.9 $1.6 $1.9 $2.1 $2.4
EURUSD benchmark fee $14.8 $16.8 $18.1 $19.5 $18.5
GBPUSD benchmark fee $10.8 $14.1 $13.7 $16.1 $15.9

All spreads, commissions and financing rate for opening a position, holding for a week, and closing.

Plus500 non-trading fees
XTB IG Plus500 ETX Capital FXTM
Account fee No No No No No
Inactivity fee Yes Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $3

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76.4% of retail CFD accounts lose money

#3 Plus500
Account opening
5.0

Plus500 account opening is seamless, fast and fully digital. You can open your trading account within a day.
Pros Cons
Fast None
Fully digital
Low minimum deposit
Plus500 minimum deposit and time to open an account
XTB IG Plus500 ETX Capital FXTM
Minimum deposit $0 $0 $100 $100 $10
Time to open account 1 day 1-3 days 1 day 1 day 1 day

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76.4% of retail CFD accounts lose money

#3 Plus500
Deposit and withdrawal
5.0

Plus500's deposit and withdrawal services are both great. You have many options, the process is simple and usually free of charge.
Pros Cons
Credit/Debit card available None
No deposit fee
Five withdrawals per month free
Plus500 withdrawal fee and options
XTB IG Plus500 ETX Capital FXTM
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No Yes Yes Yes Yes
Electronic wallets No Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $3

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76.4% of retail CFD accounts lose money

#3 Plus500
Markets and products
1.9

At Plus500 you can trade only with CFDs (forex, stock index, stock, ETF, commodity and crypto). Many popular asset classes, like real stocks or ETFs, are not available.
Plus500 CFD markets
XTB IG Plus500 ETX Capital FXTM
Currency pairs (#) 49 205 70 62 48
Stock index CFDs (#) 42 78 26 21 11
Stock CFDs (#) 1,800 10,500 1,900 2,500 200
ETF CFDs (#) 114 1,900 95 89 -
Commodity CFDs (#) 22 47 25 41 3
Bond CFDs (#) - 13 - 13 -
Cryptos (#) 25 8 14 5 4
Plus500 product selection, besides CFDs
XTB IG Plus500 ETX Capital FXTM
Stock Yes Yes No No Yes
ETF Yes Yes No No No
Forex Yes Yes No Yes Yes
Fund No No No No No
Bond No No No No No
Options No Yes No No No
Futures No No No No No
Crypto Yes Yes No Yes Yes

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76.4% of retail CFD accounts lose money

#3 Plus500
Web trading platform
4.4

The Plus500 trading platform is quite easy to use and also looks great. On the negative side, it cannot be customized.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report
Two-step (safer) login
Best CFD brokers - Plus500 trading platform
Plus500 trading platforms
XTB IG Plus500 ETX Capital FXTM
Web platform score 4.4 stars 5.0 stars 4.4 stars 4.0 stars 2.8 stars
Mobile platform score 4.4 stars 5.0 stars 4.9 stars 4.5 stars 3.8 stars
Desktop platform score 4.4 stars - - 3.3 stars 3.3 stars
Can you set leverage manually? No No No Yes Yes

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76.4% of retail CFD accounts lose money

#3 Plus500
Verdict

Plus500 is a good CFD broker. It is recommended for traders who are aware of the risks of CFD trading. The broker is regulated by several financial authorities globally, including the UK's FCA, and is listed on the London Stock Exchange. If you are not from the UK, you will most likely be served by alternative regulators, like Plus500 Cyprus. In this case, for example, the Cypriot investor protection would apply to you.

Attention Daytraders! At Plus500, scalping is defined as "a trading strategy based on the notion that client transactions are opened and closed within 2 minutes limit in order to accumulate quick profits from small price changes." If Plus500 believes you are scalping, your account may be blocked and closed. Therefore, if you plan to execute many trades within 2 minutes, Plus500 is not your broker.

The Plus500 platform is easy to use, providing a great user experience even for first-timers. Spreads are competitive, but financing rates are quite high. Lastly, the account opening process is great.

On the other hand, CFDs are the only product offered, and there are limited research and educational tools. 

As there is no minimum balance required, no withdrawal fee for withdrawals of over $100, and the inactivity fee only kicks in after three months, feel free to give Plus500 a try.

Plus500
Summary Plus500 is a global CFD broker, listed on the London Stock Exchange's Main Market and regulated by many authorities including the UK FCA and CySEC of Cyprus.
Fees score 3.6 stars
Recommended for Experienced traders looking for an easy-to-use platform and a great user experience

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76.4% of retail CFD accounts lose money

ETX Capital Logo

#4 Best CFD broker
ETX Capital

4.3

ETX Capital is a global CFD and FX broker. Its parent company, Monecor (London) Ltd was established in 1965 and is regulated by the Financial Conduct Authority (FCA) making it safe to invest your money with.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% 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.

Recommended for forex and cfd traders looking for great funding and withdrawal options and an easy-to-use platform

Pros Cons
Free and multiple deposit and withdrawal options High trading fees
Easy and fast account opening Only CFDs, forex, and crypto offered
Great educational tools Basic research tools

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78% of retail CFD accounts lose money

#4 ETX Capital
Fees
2.7

ETX Capital has high trading fees and financing rates. The non-trading fees are average. On the plus side, there are no withdrawal fees.
Pros Cons
No withdrawal fee High forex fees
High financing rate
ETX Capital trading fees
XTB IG Plus500 ETX Capital FXTM
S&P 500 index CFD fee $1.9 $1.9 $2.1 $2.2 $1.6
Europe 50 index CFD fee $1.9 $1.6 $1.9 $2.1 $2.4
EURUSD benchmark fee $14.8 $16.8 $18.1 $19.5 $18.5
GBPUSD benchmark fee $10.8 $14.1 $13.7 $16.1 $15.9

All spreads, commissions and financing rate for opening a position, holding for a week, and closing.

ETX Capital non-trading fees
XTB IG Plus500 ETX Capital FXTM
Account fee No No No No No
Inactivity fee Yes Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $3

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78% of retail CFD accounts lose money

#4 ETX Capital
Account opening
5.0

ETX Capital's account opening is hassle-free and straightforward. Your account should be ready for trading on the same day.
Pros Cons
Fast None
Fully digital
Low minimum deposit
ETX Capital minimum deposit and time to open an account
XTB IG Plus500 ETX Capital FXTM
Minimum deposit $0 $0 $100 $100 $10
Time to open account 1 day 1-3 days 1 day 1 day 1 day

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78% of retail CFD accounts lose money

#4 ETX Capital
Deposit and withdrawal
4.5

ETX Capital's deposit and withdrawal are free, the processes are fast, and can be done in several methods.
Pros Cons
Credit/Debit card available None
Free withdrawal
No deposit fee
ETX Capital withdrawal fee and options
XTB IG Plus500 ETX Capital FXTM
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No Yes Yes Yes Yes
Electronic wallets No Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $3

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78% of retail CFD accounts lose money

#4 ETX Capital
Markets and products
1.8

At ETX Capital, you can trade only with CFDs, forex, and cryptos. It lacks real stocks, ETFs, mutual funds, bonds, options, and futures.
ETX Capital CFD markets
XTB IG Plus500 ETX Capital FXTM
Currency pairs (#) 49 205 70 62 48
Stock index CFDs (#) 42 78 26 21 11
Stock CFDs (#) 1,800 10,500 1,900 2,500 200
ETF CFDs (#) 114 1,900 95 89 -
Commodity CFDs (#) 22 47 25 41 3
Bond CFDs (#) - 13 - 13 -
Cryptos (#) 25 8 14 5 4
ETX Capital product selection, besides CFDs
XTB IG Plus500 ETX Capital FXTM
Stock Yes Yes No No Yes
ETF Yes Yes No No No
Forex Yes Yes No Yes Yes
Fund No No No No No
Bond No No No No No
Options No Yes No No No
Futures No No No No No
Crypto Yes Yes No Yes Yes

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78% of retail CFD accounts lose money

#4 ETX Capital
Web trading platform
4.0

ETX Capital has a great web trading platform. It is user-friendly with a great search function and customizability. On the negative side, it lacks two-step login and a clear fee report.
Pros Cons
User-friendly No clear fee report available
Good search function No two-step (safer) login
Good customizability (for charts, workspace)
Best CFD brokers - ETX Capital trading platform
ETX Capital trading platforms
XTB IG Plus500 ETX Capital FXTM
Web platform score 4.4 stars 5.0 stars 4.4 stars 4.0 stars 2.8 stars
Mobile platform score 4.4 stars 5.0 stars 4.9 stars 4.5 stars 3.8 stars
Desktop platform score 4.4 stars - - 3.3 stars 3.3 stars
Can you set leverage manually? No No No Yes Yes

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78% of retail CFD accounts lose money

#4 ETX Capital
Verdict

ETX Capital is regulated by the top-tier FCA.

On the plus side, you can use a lot of deposit and withdrawal options and they are free of charge. We liked the seamless and hassle-free account opening. There is a wide range of educational tools and they have great quality.

ETX Capital has some drawbacks though. The trading fees are quite high. Its product range is limited to FX, CFDs, and cryptos. The research tools are limited. 

As there is only a small minimum deposit, there are 5 free withdrawals, and inactivity fee only kicks in after three months, feel free to try ETX Capital.

ETX Capital
Summary ETX Capital is a global forex and CFD broker regulated by the UK FCA. Its parent company, Monecor (London) Ltd is listed on the London Stock Exchange.
Fees score 2.7 stars
Recommended for Forex and CFD traders looking for great funding and withdrawal options and an easy-to-use platform

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78% of retail CFD accounts lose money

FXTM Logo

#5 Best CFD broker
FXTM

4.2

FXTM or ForexTime was founded in 2011 and is a global CFD and FX broker. It is regulated by several financial authorities, including the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).

FXTM is considered safe because it is regulated by the top-tier FCA.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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.

Recommended for forex traders familiar with the metatrader 4 platform

Pros Cons
Superb customer service High stock CFD fees
Great educational tools Inactivity and withdrawal fees
Digital and fast account opening Limited product portfolio

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74% of retail CFD accounts lose money

#5 FXTM
Fees
3.4

FXTM's trading fees are low for stock index CFD fees, while average or low for forex. On the negative side, the stock CFD fees are high and there's a withdrawal fee.
Pros Cons
Low fees for stock index CFDs High non-trading fees
Low EURCHF and EURGBP fees Withdrawal fee
High stock CFD fees
FXTM trading fees
XTB IG Plus500 ETX Capital FXTM
S&P 500 index CFD fee $1.9 $1.9 $2.1 $2.2 $1.6
Europe 50 index CFD fee $1.9 $1.6 $1.9 $2.1 $2.4
EURUSD benchmark fee $14.8 $16.8 $18.1 $19.5 $18.5
GBPUSD benchmark fee $10.8 $14.1 $13.7 $16.1 $15.9

All spreads, commissions and financing rate for opening a position, holding for a week, and closing.

FXTM non-trading fees
XTB IG Plus500 ETX Capital FXTM
Account fee No No No No No
Inactivity fee Yes Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $3

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74% of retail CFD accounts lose money

#5 FXTM
Account opening
5.0

FXTM account opening is fully digital, easy and fast. Your account will be ready within 1-2 business days. There are also a lot of account types you can choose from.
Pros Cons
Fast None
Fully digital
User-friendly
FXTM minimum deposit and time to open an account
XTB IG Plus500 ETX Capital FXTM
Minimum deposit $0 $0 $100 $100 $10
Time to open account 1 day 1-3 days 1 day 1 day 1 day

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74% of retail CFD accounts lose money

#5 FXTM
Deposit and withdrawal
4.0

FXTM offers a great variety of deposit and withdrawal options. Almost everything is available, including credit cards, bank transfer and electronic wallets. The main disadvantage is that FXTM charges a fee for most withdrawal types.
Pros Cons
Credit/Debit card available Most of the withdrawal options have a fee
No deposit fee
Quick deposit and withdrawal - within 3 days
FXTM withdrawal fee and options
XTB IG Plus500 ETX Capital FXTM
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No Yes Yes Yes Yes
Electronic wallets No Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $3

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74% of retail CFD accounts lose money

#5 FXTM
Markets and products
2.4

FXTM's product selection covers forex CFDs and cryptos. Non-EU clients can also trade with real stocks. On the negative side, it lacks ETFs, mutual funds, bonds, options, and futures.
FXTM CFD markets
XTB IG Plus500 ETX Capital FXTM
Currency pairs (#) 49 205 70 62 48
Stock index CFDs (#) 42 78 26 21 11
Stock CFDs (#) 1,800 10,500 1,900 2,500 200
ETF CFDs (#) 114 1,900 95 89 -
Commodity CFDs (#) 22 47 25 41 3
Bond CFDs (#) - 13 - 13 -
Cryptos (#) 25 8 14 5 4
FXTM product selection, besides CFDs
XTB IG Plus500 ETX Capital FXTM
Stock Yes Yes No No Yes
ETF Yes Yes No No No
Forex Yes Yes No Yes Yes
Fund No No No No No
Bond No No No No No
Options No Yes No No No
Futures No No No No No
Crypto Yes Yes No Yes Yes

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74% of retail CFD accounts lose money

#5 FXTM
Web trading platform
2.8

The web trading platform of FXTM is provided by MetaTrader. It is highly customizable, available in a lot of languages, and has a clear fee report. On the other hand, it lacks a two-step login and price alerts, and the design is outdated.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation
Best CFD brokers - FXTM trading platform
FXTM trading platforms
XTB IG Plus500 ETX Capital FXTM
Web platform score 4.4 stars 5.0 stars 4.4 stars 4.0 stars 2.8 stars
Mobile platform score 4.4 stars 5.0 stars 4.9 stars 4.5 stars 3.8 stars
Desktop platform score 4.4 stars - - 3.3 stars 3.3 stars
Can you set leverage manually? No No No Yes Yes

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74% of retail CFD accounts lose money

#5 FXTM
Verdict

FXTM is regulated by several financial authorities globally, including the top-tier Financial Conduct Authority (FCA).

On the plus side, customer support gives fast and relevant answers. There are several educational tools, including demo accounts and webinars. The account opening is fully digital and fast.

FXTM has some drawbacks though: it charges high stock CFD fees, like inactivity and withdrawal fees, and the product range is limited.

As account opening only takes a short time, and customer support is helpful and reliable, feel free to try FXTM.

FXTM
Summary FXTM is an international CFD and forex broker, regulated by the UK FCA, CySEC of Cyprus and the Mauritian FSC. It is licensed by South Africa's FSCA.
Fees score 3.4 stars
Recommended for Forex traders familiar with the MetaTrader 4 platform

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74% of retail CFD accounts lose money

Best CFD brokers
What makes a good CFD broker?

Trading with CFDs became widely popular over the past decade. Keeping your eyes on important criteria like fees or the number of CFDs offered can help find the best CFD broker for you.

When we selected the best CFD broker in 2020, we ranked brokers focusing on CFDs along close to 300 criteria. Not to overwhelm you with all of them, below we list just the five most important criteria.

5 most important criteria for the best CFD brokers in 2020
1. Fee structure: The overall cost of a typical CFD trade can be 10-15 times higher at one CFD broker than at another. So it’s worth checking their fees.
2. Account opening: Some brokers require a minimum deposit, while others don't. Check what the conditions are at the best CFD brokers.
3. Deposit and withdrawal: Transferring money to your account can be 5 times slower and more expensive from one CFD broker to another.
4. Web trading platform: A user-friendly and well-equipped trading platform can significantly increase your trading comfort.
5. Products and markets: Do you want to trade with Amazon or Bitcoin CFDs? They might not be available. Check the product coverage before opening an account.

Best CFD brokers
CFD broker fees

Fees, fees and fees. We bet this is at the top of your mind when you’re looking for the best CFD broker. Let's see how we compared the fees of the various CFD brokers.

It is tough to compare CFD broker fees, but we are here to help. You need to look at two fee categories: trading-related fees and non-trading fees.

Trading-related fees

With regards to trading-related fees, brokers can charge commissions, spreads and overnight fees. To make your life easier we calculated all fees based on real-life scenarios so you can make a simple comparison. We took the following products:

  • US equity index - S&P 500 index CFD
  • European equity index - Europe 50 index CFD
  • Forex - EURUSD and GBPUSD

We assumed opening a position, holding it for a week, and closing it. We calculated with S&P 500 and EU 50 positions of $2,000, while we took the forex positions in the value of $20,000. These real-life assumptions make CFD fees comparable.

Compare more fees

Best CFD brokers
CFD brokers explained

CFDs are derivatives, with a wide range of products easily available to trade. However, it is a leveraged product, which means that it is quite risky.

CFDs are derivatives: you bet on price movements

With CFDs, you can gamble on whether the price of an asset will go up or down, without buying the stock. Let's say you want to profit from Microsoft's stock price going up. At an online stockbroker, you would buy the Microsoft stock. In comparison, at a CFD broker you can instead bet directly on the stock price going up. However, CFDs are much like knives: they can be very useful, but if you have no idea how to use one, you can easily hurt yourself.

CFDs are an easy way to reach a lot of markets with leverage

Why on earth is this good for you? Well, there are three advantages:

  • 1. You can make bets on all kinds of products. For example, if you want to trade with Turkish stocks, you can do so via CFDs, which might not be possible with an online stockbroker. It is easier for a broker to provide a CFD than to have access to the Turkish stock exchange.
  • 2. The second advantage is leverage. The potential returns on your bet will be much bigger than with buying the actual stock. But this naturally also carries greater risk, therefore we recommend that you fully understand leverage before you invest.
  • 3. Lastly, CFDs are an easy way to have short positions. This is indeed a big plus.

To better understand these advantages better, educate yourself by reading our CFD trading tips.

Not owning the underlying asset exposes you to additional risks

If you do not own the stock (or any other underlying asset), you are running a whole different kind of risk, which you need to understand before trading CFDs.

Let's say Bob owns Siemens stock, while Janet has an open long Siemens CFD position, both of them with the broker “Bust Brokers.” The worst happens, and Bust Brokers goes bust. Bob's Siemens stock is in custody with his custody service provider, meaning sooner or later he will be able to access it again. However, Janet did not own any stock but was in a long CFD position, therefore she will be compensated only up to the investor protection scheme of the broker’s country. In most cases, this is a maximum of €20,000.

Best CFD brokers
CFD regulations and security

The European Securities and Markets Authority (ESMA) has published a 2018 regulation relating to CFDs and binary options. These new measures clearly show how the European regulators wish to secure retail investors from the gloomy side of the European retail brokerage industry.

Based on ESMA's research, around 74-89% of investors were losing money on their CFD investments, and in many cases not purely out of their own fault. One core problem is that the dealing desk brokers were making a profit when their clients lose money. If you don't know what this model looks like, this Financemagnates article explains it very well. Another problem was the aggressive and unbridled marketing of deposit bonuses, cheap prices and messages that promised easy ways of getting rich.

The ESMA regulation is aimed at helping to reduce the proportion of accounts suffering losses. Here are the measures proposed by the regulation and their explanations:

  • Limiting leverage: it was not uncommon to be able to open a position with 400:1 leverage, the possible maximum leverage will be limited to 30:1 for major currency pairs. The limitation varies according to the underlying asset's volatility:
    • 30:1 for major currency pairs
    • 20:1 for non-major currency pairs, gold and major stock indices
    • 10:1 for commodities other than gold and non-major stock indices;
    • 5:1 for single stocks and any underlying not otherwise mentioned
    • 2:1 for cryptocurrencies
  • Margin close out on a per account basis: if an account's total margin falls below 50% of the initially required margin, brokers must close out or more of your positions.
  • Negative balance protection: you cannot lose more money than you invested in.
  • Restriction on marketing and incentive tools: instead of promoting CFD trading by promising of getting rich in a short period, brokers have to clearly show what percentage of their customers are losing money.

Summing up, do the stricter regulations mean that trading CFDs will become a nothing but a bedtime story we tell our kids? On the one hand, retail investors will be protected from losing more than they invest. On the other hand, canny investors won't be able to multiply their profits by using high leverage. Altogether, we think CFDs will remain popular despite the new regulations as trading will become safer and more transparent.

Being part of a banking group or listed on an exchange should be your primary compass for finding the best CFD brokerss

It's time to discuss how to make a well-informed choice in today's changing landscape of CFD brokers. We prefer exchange-listed and/or banking licensed brokers. Why?

  • Being listed on any developed exchange means additional regulations, strict and frequent audits and also the need for constant communication between shareholders and other stakeholders. No wonder that only a small portion of retail brokers decide to give up money in exchange transparency.
  • Banks are indisputably crucial building blocks of any economy. Strict capital requirements, regulations and transparency are a must. Therefore any broker backed by a bank can be considered more reliable than the ones that aren't.

For more help on these points, check out ourcomparison table for online brokers.

Compare protection amounts

Best CFD brokers
Bottom line

You've seen the details, now let's zoom out. Here are the best CFD brokers in 2020 for citizens in the Caribbean Netherlands

Best CFD brokers in 2020 for Caribbean citizens
XTB IG Plus500 ETX Capital FXTM
Overall score 4.7 4.6 4.4 4.3 4.2
Fees score 4.1 stars 3.4 stars 3.6 stars 2.7 stars 3.4 stars
Account opening score 5.0 stars 4.4 stars 5.0 stars 5.0 stars 5.0 stars
Deposit and withdrawal score 4.5 stars 4.5 stars 5.0 stars 4.5 stars 4.0 stars
Markets and products score 2.8 stars 3.5 stars 1.9 stars 1.8 stars 2.4 stars
Web platform score 4.4 stars 5.0 stars 4.4 stars 4.0 stars 2.8 stars
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79% of retail CFD accounts lose money
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76% of retail CFD accounts lose money
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76.4% of retail CFD accounts lose money
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78% of retail CFD accounts lose money
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74% of retail CFD accounts lose money

XTB is our winner, the best CFD broker for Caribbean citizens in 2020. Low forex and stock index CFD fees. Free and fast deposit and withdrawal. Easy and fast account opening.

All five top brokers are great choices. However, do not forget, that CFDs are really risky. If you are experienced, pick your winner, and take the next step in your trading journey. Let us know what you think in the comments section.

Still unsure? Use the broker finder and find the best broker for you.

Author of this article

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-founder, CPO

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

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

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