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Best CFD brokers in Eritrea in 2020

XTB
4.6
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75% of retail CFD accounts lose money
XM
4.4
Visit broker
69.10% of retail CFD accounts lose money
ATFX
4.4
Visit broker
70.16% of retail CFD accounts lose money
XTB
4.6
Visit broker
75% of retail CFD accounts lose money
XM
4.4
Visit broker
69.10% of retail CFD accounts lose money
ATFX
4.4
Visit broker
70.16% of retail CFD accounts lose money
Best CFD brokers in Eritrea in 2020

To find the best CFD broker in Eritrea for 2020, we went ahead and did the research for you. After testing, analyzing and comparing 57 brokers, 5 made it to the top in Eritrea. We tell you the list, you pick your winner. And now, without further ado...

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

  1. XTB is the best CFD broker in Eritrea in 2020. Low forex and stock index CFD fees. Free and fast deposit and withdrawal. Easy and fast account opening.
  2. XM is number two. Low CFD and withdrawal fees. Easy and fast account opening. Great educational tools.
  3. ATFX is third. Low fees. Fast and easy account opening. Multiple deposit and withdrawal options for free.
  4. Plus500, at place four. Easy-to-use platform. Low trading fees. Listed on the London Stock Exchange.
  5. Number five is FXTM. Superb customer service. Great educational tools. Digital and fast account opening.
Best CFD brokers in 2020 for Eritrean citizens
Broker Info Score
#1 XTB Global CFD and forex broker 4.6
#2 XM Global CFD and forex broker 4.4
#3 ATFX Global CFD and forex broker 4.4
#4 Plus500 Global CFD and forex broker 4.4
#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 give access to many products and need to have a great platform.

Easy to list, but hard to figure it out. We are testing brokers more than 100 criteria with real accounts and real money. We know what's up. You can find all the ranking criteria in our methodology.

Boring, but important stuff: 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, start by reading more about CFD trading.

Not sure which broker? For a tailored recommendation, check out the broker finder tool. You can enter your country and it will show only the relevant brokers. Want more details? Compare brokers with this detailed comparison table.

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

XTB Logo

#1 Best CFD broker
XTB

4.6

XTB is a global CFD and forex broker with headquarters in London and Warsaw. The company is regulated by several financial authorities worldwide, including the UK's Financial Conduct Authority (FCA) and the Polish Financial Supervision Authority (KNF). XTB is listed on the Warsaw Stock Exchange.

XTB is considered safe because it is regulated by at least one top-tier financial authority, the FCA, and is listed on a stock exchange.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% 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 fee for stock CFD
Free and fast deposit and withdrawal Limited product portfolio, mostly CFD and FX
Easy and fast account opening Poor email support

Visit broker
75% of retail CFD accounts lose money

#1 XTB
Fees
4.0

XTB has low trading fees and low non-trading fees. Within trading fees, there are low fees for forex and stock index CFDs. On the other hand, stock CFD fees are high.
Pros Cons
Low trading fees High stock CFD fees
Low non-trading fees
No withdrawal fee
XTB trading fees
XTB XM ATFX Plus500 FXTM
S&P 500 index CFD fee $2.0 $2.4 $2.4 $2.1 $1.8
Europe 50 index CFD fee $2.2 $2.4 $2.7 $1.3 $2.5
EURUSD benchmark fee $15.0 $17.1 $10.5 $17.9 $17.8
GBPUSD benchmark fee $11.1 $13.8 $10.2 $14.0 $15.5

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

XTB non-trading fees
XTB XM ATFX Plus500 FXTM
Account fee No No No No No
Inactivity fee No Yes No Yes Yes
Withdrawal fee $0 $0 $0 $0 $3

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75% of retail CFD accounts lose money

#1 XTB
Account opening
5.0

XTB's account opening process is hassle-free, fully digital and straightforward. Your account will be ready for trading on the same day.
Pros Cons
Fast None
Fully digital
Low minimum deposit
XTB minimum deposit and time to open an account
XTB XM ATFX Plus500 FXTM
Minimum deposit $250 $5 $500 $100 $500
Time to open account 1 day 1 day 1 day 1 day 1 day

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75% of retail CFD accounts lose money

#1 XTB
Deposit and withdrawal
5.0

XTB deposits and withdrawals are cost-friendly, fast, and can be done in several forms.
Pros Cons
Credit/Debit card available None
Free withdrawal
No deposit fee
XTB withdrawal fee and options
XTB XM ATFX Plus500 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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75% of retail CFD accounts lose money

#1 XTB
Markets and products
3.0

XTB's product selection covers only CFDs, forex and crypto assets. Some European clients can also trade with real stocks and ETFs. Popular asset classes like bonds, mutual funds, options and futures are not available.
XTB CFD markets
XTB XM ATFX Plus500 FXTM
Currency pairs (#) 49 57 44 70 48
Stock index CFDs (#) 42 18 13 33 11
Stock CFDs (#) 1,700 1,200 155 1,800 166
ETF CFDs (#) 103 - - 92 -
Commodity CFDs (#) 18 15 9 22 6
Bond CFDs (#) 3 - - - -
Cryptos (#) 25 5 4 14 4
XTB real asset offering, beside CFD
XTB XM ATFX Plus500 FXTM
Stock Yes Yes No No No
ETF Yes No No No No
Forex Yes Yes Yes Yes Yes
Fund No No No No No
Bond No No No No No
Options No No No No No
Futures No No No No No
Crypto Yes Yes Yes Yes Yes

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75% of retail CFD accounts lose money

#1 XTB
Web trading platform
4.0

XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, a 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 XM ATFX Plus500 FXTM
Web platform score 4.0 3.0 3.0 4.0 3.0
Mobile platform score 4.0 4.0 4.0 5.0 4.0
Desktop platform score 4.0 3.0 3.0 - 3.0
Can you set leverage manually? No Yes No No No

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75% 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, and it 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 free and fast. We also liked the seamless and hassle-free account opening process.

XTB has some drawbacks, though. The stock CFD fees are high. The product range is mainly limited to FX and CFDs, although real stock and ETF trading are available in some European countries. Lastly, its email support did not reply to our queries.

We recommend XTB for clients who prefer forex or CFD trading, and also want to enjoy great deposit and withdrawal options and a 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 and Poland's KNF.
Fees score 4.0
Recommended for Forex and CFD traders looking for low fees and great deposit/withdrawal service

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75% of retail CFD accounts lose money

XM Logo

#2 Best CFD broker
XM

4.4

Trading Point Holding, XM's parent company, was founded in 2009 and it is a global CFD and FX broker. Trading Point Holding has two brands: XM and Trading.com.

XM is available globally and regulated by three financial authorities: Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), International Financial Services Commission of Belize (IFSC).

Trading.com was launched in 2019 and is available only for EEA residents, except Belgian, Cypriot, Greek, and Swiss residents. Trading.com is regulated by the Financial Conduct Authority (FCA).

In this review, we focus on the XM brand.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.10% 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. Risk warnings are shown on the website but they are unclear on percentages

Recommended for forex and cfd traders who prefer metatrader platforms and seek low trading fees

Pros Cons
Low CFD and withdrawal fees Only CFDs, forex, cryptos for Europeans
Easy and fast account opening Average forex fees
Great educational tools Inactivity fee

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69.10% of retail CFD accounts lose money

#2 XM
Fees
4.0

XM has low trading fees for CFD's and no withdrawal fee. On the other hand, the forex fees are average and there is a fee for inactivity.
Pros Cons
Low CFD fees Inactivity fee
No withdrawal fee Average FX fees
XM trading fees
XTB XM ATFX Plus500 FXTM
S&P 500 index CFD fee $2.0 $2.4 $2.4 $2.1 $1.8
Europe 50 index CFD fee $2.2 $2.4 $2.7 $1.3 $2.5
EURUSD benchmark fee $15.0 $17.1 $10.5 $17.9 $17.8
GBPUSD benchmark fee $11.1 $13.8 $10.2 $14.0 $15.5

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

XM non-trading fees
XTB XM ATFX Plus500 FXTM
Account fee No No No No No
Inactivity fee No Yes No Yes Yes
Withdrawal fee $0 $0 $0 $0 $3

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69.10% of retail CFD accounts lose money

#2 XM
Account opening
5.0

XM account opening is hassle-free and straightforward. Your account is ready for trading on the same day.
Pros Cons
Fast None
Fully digital
Low minimum deposit
XM minimum deposit and time to open an account
XTB XM ATFX Plus500 FXTM
Minimum deposit $250 $5 $500 $100 $500
Time to open account 1 day 1 day 1 day 1 day 1 day

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69.10% of retail CFD accounts lose money

#2 XM
Deposit and withdrawal
5.0

XM's deposit and withdrawal are fast, can be done in several forms, and are cost-friendly.
Pros Cons
Credit/Debit card available None
Free withdrawal
No deposit fee
Free wire withdrawal for more than $200 withdrawals
XM withdrawal fee and options
XTB XM ATFX Plus500 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

Visit broker More
69.10% of retail CFD accounts lose money

#2 XM
Markets and products
3.0

At XM, you can trade with CFDs, forex, and cryptos. Non-European clients can also trade with some real stocks. There are no ETFs, mutual funds, bonds, options, and futures.
XM CFD markets
XTB XM ATFX Plus500 FXTM
Currency pairs (#) 49 57 44 70 48
Stock index CFDs (#) 42 18 13 33 11
Stock CFDs (#) 1,700 1,200 155 1,800 166
ETF CFDs (#) 103 - - 92 -
Commodity CFDs (#) 18 15 9 22 6
Bond CFDs (#) 3 - - - -
Cryptos (#) 25 5 4 14 4
XM real asset offering, beside CFD
XTB XM ATFX Plus500 FXTM
Stock Yes Yes No No No
ETF Yes No No No No
Forex Yes Yes Yes Yes Yes
Fund No No No No No
Bond No No No No No
Options No No No No No
Futures No No No No No
Crypto Yes Yes Yes Yes Yes

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69.10% of retail CFD accounts lose money

#2 XM
Web trading platform
3.0

The web trading platform of XM is provided by MetaTrader. It is highly customizable and has a clear fee report. On the other hand, the platform lacks price alerts, and the design is outdated.
Pros Cons
Clear fee report No price alerts
Good customizability (for charts, workspace) Outdated design
Best CFD brokers - XM trading platform
XM trading platforms
XTB XM ATFX Plus500 FXTM
Web platform score 4.0 3.0 3.0 4.0 3.0
Mobile platform score 4.0 4.0 4.0 5.0 4.0
Desktop platform score 4.0 3.0 3.0 - 3.0
Can you set leverage manually? No Yes No No No

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69.10% of retail CFD accounts lose money

#2 XM
Verdict

XM is regulated by more authorities globally, including the top-tier ASIC.

On the plus side, we liked the low CFD and withdrawal fees. The account opening is seamless and hassle-free. There is a wide range of educational tools in great quality.

XM has some drawbacks though. Its product range is limited to FX, CFDs, cryptos. Stocks only for non-Europeans. Its forex fees are average. Lastly, a monthly $5 fee is charged after three months of inactivity. 

We recommend XM for clients who prefer CFD and forex trading and are looking for MetaTrader trading platforms. Feel free to test it via the demo account.

XM
Summary XM is a global forex and CFD broker regulated by Australia's ASIC, CySEC of Cyprus, and Belizean authority IFSC.
Fees score 4.0
Recommended for Forex and CFD traders who prefer MetaTrader platforms and seek low trading fees

Visit broker More
69.10% of retail CFD accounts lose money

ATFX Logo

#3 Best CFD broker
ATFX

4.4

AT Group is a global financial group and ATFX is the brand of branches providing CFD/forex trading services. ATFX has four legal entities with different regulations and services. In this review, we tested the service of AT Global Markets (UK) Limited, which 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. 70.16% 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 familiar with the metatrader 4 trading platform

Pros Cons
Low fees Limited product portfolio
Fast and easy account opening Pushy sales team
Multiple deposit and withdrawal options for free No fundamental data

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70.16% of retail CFD accounts lose money

#3 ATFX
Fees
5.0

ATFX has great fees. It charges low fees both for CFD and forex. There are also no inactivity and withdrawal fees.
Pros Cons
Low trading fees None
Low non-trading fees
No withdrawal fee
ATFX trading fees
XTB XM ATFX Plus500 FXTM
S&P 500 index CFD fee $2.0 $2.4 $2.4 $2.1 $1.8
Europe 50 index CFD fee $2.2 $2.4 $2.7 $1.3 $2.5
EURUSD benchmark fee $15.0 $17.1 $10.5 $17.9 $17.8
GBPUSD benchmark fee $11.1 $13.8 $10.2 $14.0 $15.5

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

ATFX non-trading fees
XTB XM ATFX Plus500 FXTM
Account fee No No No No No
Inactivity fee No Yes No Yes Yes
Withdrawal fee $0 $0 $0 $0 $3

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70.16% of retail CFD accounts lose money

#3 ATFX
Account opening
5.0

ATFX has a user-friendly and fully digital account opening. In most cases, the account approval takes no more than 1-2 business days. On the flip side, the sales team is pushy and the required minimum deposit can be high.
Pros Cons
Fast Sales team pushy
Fully digital High minimum deposit for accounts, except Standard Account
User-friendly
ATFX minimum deposit and time to open an account
XTB XM ATFX Plus500 FXTM
Minimum deposit $250 $5 $500 $100 $500
Time to open account 1 day 1 day 1 day 1 day 1 day

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70.16% of retail CFD accounts lose money

#3 ATFX
Deposit and withdrawal
5.0

ATFX offers free and fast deposit and withdrawal. There are various options for funding your account, including bank transfer, credit/debit cards, as well as electronic wallets.
Pros Cons
Credit/Debit card available None
Free withdrawal
No deposit fee
ATFX withdrawal fee and options
XTB XM ATFX Plus500 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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70.16% of retail CFD accounts lose money

#3 ATFX
Markets and products
1.0

ATFX provides only forex, CFDs and cryptos. However, it lacks popular asset classes, such as real stocks, mutual funds, or bonds.
ATFX CFD markets
XTB XM ATFX Plus500 FXTM
Currency pairs (#) 49 57 44 70 48
Stock index CFDs (#) 42 18 13 33 11
Stock CFDs (#) 1,700 1,200 155 1,800 166
ETF CFDs (#) 103 - - 92 -
Commodity CFDs (#) 18 15 9 22 6
Bond CFDs (#) 3 - - - -
Cryptos (#) 25 5 4 14 4
ATFX real asset offering, beside CFD
XTB XM ATFX Plus500 FXTM
Stock Yes Yes No No No
ETF Yes No No No No
Forex Yes Yes Yes Yes Yes
Fund No No No No No
Bond No No No No No
Options No No No No No
Futures No No No No No
Crypto Yes Yes Yes Yes Yes

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70.16% of retail CFD accounts lose money

#3 ATFX
Web trading platform
3.0

The web trading platform of ATFX 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 Poor design
Best CFD brokers - ATFX trading platform
ATFX trading platforms
XTB XM ATFX Plus500 FXTM
Web platform score 4.0 3.0 3.0 4.0 3.0
Mobile platform score 4.0 4.0 4.0 5.0 4.0
Desktop platform score 4.0 3.0 3.0 - 3.0
Can you set leverage manually? No Yes No No No

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70.16% of retail CFD accounts lose money

#3 ATFX
Verdict

ATFX is regulated by more financial authorities globally, including the top-tier FCA.

On the plus side, ATFX has low CFD and forex fees. The account opening is easy and multiple options are offered for deposit and withdrawal, which are free of charge.

ATFX  has some drawbacks though. The product range is limited to FX, CFDs, and cryptos. The sales team is pushy and fundamental data research is missing. 

As the trading fees are low and you can use a demo account, feel free to try ATFX.

ATFX
Summary ATFX is the forex/CFD brokerage arm of global financial group AT Group. It is regulated by several financial authorities globally, such as the UK FCA or CySEC of Cyprus.
Fees score 5.0
Recommended for Forex and CFD traders familiar with the MetaTrader 4 trading platform

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70.16% of retail CFD accounts lose money

Plus500 Logo

#4 Best CFD broker
Plus500

4.4

Plus500 is a London Stock Exchange-listed global CFD and FX 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 where a significant portion of the customer's positions are opened and closed by him/her within 2 minutes." 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.

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

Pros Cons
Easy-to-use platform Limited product portfolio, only CFDs & forex
Low trading fees Minimal research tools
Listed on the London Stock Exchange Mid-range educational section

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76.4% of retail CFD accounts lose money

#4 Plus500
Fees
4.0

Plus500 has low trading fees and average non-trading fees. Even if they have an inactivity fee, it is applied only if you are not logging in at all.
Pros Cons
Low trading fees Inactivity fee
No withdrawal fee
Plus500 trading fees
XTB XM ATFX Plus500 FXTM
S&P 500 index CFD fee $2.0 $2.4 $2.4 $2.1 $1.8
Europe 50 index CFD fee $2.2 $2.4 $2.7 $1.3 $2.5
EURUSD benchmark fee $15.0 $17.1 $10.5 $17.9 $17.8
GBPUSD benchmark fee $11.1 $13.8 $10.2 $14.0 $15.5

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

Plus500 non-trading fees
XTB XM ATFX Plus500 FXTM
Account fee No No No No No
Inactivity fee No Yes No Yes Yes
Withdrawal fee $0 $0 $0 $0 $3

Visit broker More
76.4% of retail CFD accounts lose money

#4 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 XM ATFX Plus500 FXTM
Minimum deposit $250 $5 $500 $100 $500
Time to open account 1 day 1 day 1 day 1 day 1 day

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76.4% of retail CFD accounts lose money

#4 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 XM ATFX Plus500 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

#4 Plus500
Markets and products
2.0

At Plus500 you can trade only with CFDs and forex. There is a wide selection of CFDs and currency pairs to trade with.
Plus500 CFD markets
XTB XM ATFX Plus500 FXTM
Currency pairs (#) 49 57 44 70 48
Stock index CFDs (#) 42 18 13 33 11
Stock CFDs (#) 1,700 1,200 155 1,800 166
ETF CFDs (#) 103 - - 92 -
Commodity CFDs (#) 18 15 9 22 6
Bond CFDs (#) 3 - - - -
Cryptos (#) 25 5 4 14 4
Plus500 real asset offering, beside CFD
XTB XM ATFX Plus500 FXTM
Stock Yes Yes No No No
ETF Yes No No No No
Forex Yes Yes Yes Yes Yes
Fund No No No No No
Bond No No No No No
Options No No No No No
Futures No No No No No
Crypto Yes Yes Yes Yes Yes

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76.4% of retail CFD accounts lose money

#4 Plus500
Web trading platform
4.0

The Plus500 trading platform is very 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 XM ATFX Plus500 FXTM
Web platform score 4.0 3.0 3.0 4.0 3.0
Mobile platform score 4.0 4.0 4.0 5.0 4.0
Desktop platform score 4.0 3.0 3.0 - 3.0
Can you set leverage manually? No Yes No No No

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76.4% of retail CFD accounts lose money

#4 Plus500
Verdict

Plus500 is a good CFD and forex 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 Plus500 Cyprus, thus the Cypriot investor protection will apply.

Attention Daytraders! At Plus500 scalping is defined as "a trading strategy where a significant portion of the customer's positions are opened and closed by him/her within 2 minutes." 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, with a great user experience, which even first-time users can navigate with ease. Spreads are competitive, but financing rates are quite high. Some more advanced research tools would be useful. 

As there is no minimum balance required, no withdrawal fee above $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 4.0
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

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. 83% 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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83% of retail CFD accounts lose money

#5 FXTM
Fees
4.0

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.
Pros Cons
Low fees for stock index CFDs High stock CFD fees
Low EURCHF and EURGBP fees
FXTM trading fees
XTB XM ATFX Plus500 FXTM
S&P 500 index CFD fee $2.0 $2.4 $2.4 $2.1 $1.8
Europe 50 index CFD fee $2.2 $2.4 $2.7 $1.3 $2.5
EURUSD benchmark fee $15.0 $17.1 $10.5 $17.9 $17.8
GBPUSD benchmark fee $11.1 $13.8 $10.2 $14.0 $15.5

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

FXTM non-trading fees
XTB XM ATFX Plus500 FXTM
Account fee No No No No No
Inactivity fee No Yes No Yes Yes
Withdrawal fee $0 $0 $0 $0 $3

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83% 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 XM ATFX Plus500 FXTM
Minimum deposit $250 $5 $500 $100 $500
Time to open account 1 day 1 day 1 day 1 day 1 day

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83% 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 XM ATFX Plus500 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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83% of retail CFD accounts lose money

#5 FXTM
Markets and products
2.0

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 XM ATFX Plus500 FXTM
Currency pairs (#) 49 57 44 70 48
Stock index CFDs (#) 42 18 13 33 11
Stock CFDs (#) 1,700 1,200 155 1,800 166
ETF CFDs (#) 103 - - 92 -
Commodity CFDs (#) 18 15 9 22 6
Bond CFDs (#) 3 - - - -
Cryptos (#) 25 5 4 14 4
FXTM real asset offering, beside CFD
XTB XM ATFX Plus500 FXTM
Stock Yes Yes No No No
ETF Yes No No No No
Forex Yes Yes Yes Yes Yes
Fund No No No No No
Bond No No No No No
Options No No No No No
Futures No No No No No
Crypto Yes Yes Yes Yes Yes

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83% of retail CFD accounts lose money

#5 FXTM
Web trading platform
3.0

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 XM ATFX Plus500 FXTM
Web platform score 4.0 3.0 3.0 4.0 3.0
Mobile platform score 4.0 4.0 4.0 5.0 4.0
Desktop platform score 4.0 3.0 3.0 - 3.0
Can you set leverage manually? No Yes No No No

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83% 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 4.0
Recommended for Forex traders familiar with the MetaTrader 4 platform

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83% of retail CFD accounts lose money

Best CFD brokers
What makes a good CFD broker?

Trading with CFDs became really popular in the last decade. Keeping your eyes on important criteria like fees or number of CFDs helps you to find the best CFD broker for you.

When we selected the best CFD broker in 2020, we ranked brokers focusing on CFDs along more than 100 criteria. Not to overwhelm you we list the five most important criteria.

The 5 most important criteria for CFD brokers are:

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 compared to another. Worth to check the fees.
2. Account opening: Some brokers require a minimum deposit, others don't set a minimal first-time deposit. Check out what the best CFD brokers require.
3. Deposit and withdrawal: Transferring money to your account can be 5 times longer and more expensive at one CFD broker compared to another.
4. Web trading platform: A user-friendly and well-equipped trading platform can significantly increase your trading comfort.
5. Products and markets: You want to invest in Amazon CFD and Bitcoin CFD? 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 on top of your mind when you want to select the best CFD broker. Let's see how we checked.

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

Trading-related fees

With regards to the trading-related fees, brokers can charge commissions, spreads and overnight fees. To make your life easier we calculated all fees for real-life scenarios. So, you can compare the fees. We took

  • 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. S&P 500 and EU 50 positions are $2,000, while the forex positions are $20,000. These real-life assumptions make CFD fees comparable.

Compare more fees

Best CFD brokers
CFD brokers explained

CFDs are derivatives, you can easily trade with a wide range of products, but it is leveraged, so it is risky.

CFDs are derivatives: you bet on price movements

With CFDs, you can gamble on whether asset prices 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. At a CFD broker, you can instead bet directly on the stock price going up. However, CFDs are much like knives: could be very useful, but if no idea how to use one, you can cut 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. E.g. if you wanted to trade with Turkish stocks, go ahead. This might not be possible with an online stockbroker. It is easier for a broker to provide a CFD than have access to the Turkish stock exchange.
  • 2, The second advantage is leverage. The odds of your bet will be much larger than with buying the actual stock. It also comes with greater risk, therefore we recommend you to fully understand leverage before you invest.
  • 3, Lastly, with CFDs, you can easily have a short position. That is a plus indeed.

To understand these advantages better, you can learn through 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 risk which you need to understand before trading CFDs.

Let's say Bob has a Siemens stock and Janet is in a long Siemens CFD position, both with broker “Bust Broker Co.”. Bust Broker Co. goes bust. Bob's Siemens stock is in custody with his custody service provider, sooner or later he will be able to access it. Janet was in a long position, therefore she will be compensated only up to the investor protection scheme of the country. In most cases, this is up to €20,000.

Best CFD brokers
CFD regulations and security

You've probably heard of European Securities and Markets Authority's new regulation relating to CFDs and binary options. New measures clearly show how the European regulators want to secure retail investors from the gloomy side of the European retail brokerage industry.

Based on ESMA's research, around 74-89% of investors are losing their deposits and in many cases not purely due to their fault. One core problem is that the dealing desk brokers are gaining profit when their clients lose. If you don't know what this model looks like, a Financemagnates article explains that very well. Another problem is the limitless and uncontrolled marketing of deposit bonuses, cheap prices and messages promising easy ways of getting rich.

The new regulation will probably help to make the ratio better off. The measures and their explanations are the following:

  • Limitation of leverage: it was not unusual that you could open a position with 400:1 leverage, but from now the possible maximum leverage will be 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, the stricter regulations mean that trading CFDs will become a nothing but a bedtime story for our kids? On the one hand, retail investors are protected by losing more than their deposit. On the other hand, handy investors can't multiply their profits by the use of high leverage. Altogether, we think CFD will keep its popularity as trading with that will become more transparent and safer.

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

It is time to discuss how to make a well-established 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 the shareholders and other stakeholders. No wonder that only a small portion of retail brokers decides to exchange money for transparency.
  • Banks are indisputably crucial building stones of any economy. Strict capital requirements, regulations and need for transparency is a must. Therefore any broker with a bank behind its back can be considered more reliable than the rest of the competition.

For more help on these points check out our online brokers' comparison table.

Compare protection amounts

Best CFD brokers
Bottom line

You saw the details, now let's zoom out. Here are the best CFD brokers in 2020 for citizens in Eritrea

Best CFD brokers in 2020 for Eritrean citizens
XTB XM ATFX Plus500 FXTM
Overall score 4.6 4.4 4.4 4.4 4.2
Fees score 4.0 4.0 5.0 4.0 4.0
Account opening score 5.0 5.0 5.0 5.0 5.0
Deposit and withdrawal score 5.0 5.0 5.0 5.0 4.0
Markets and products score 3.0 3.0 1.0 2.0 2.0
Web platform score 4.0 3.0 3.0 4.0 3.0
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75% of retail CFD accounts lose money
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69.10% of retail CFD accounts lose money
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70.16% of retail CFD accounts lose money
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76.4% of retail CFD accounts lose money
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83% of retail CFD accounts lose money

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

All are great great choice. 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.

Tibor Bedő

Tibor Bedő

Co-founder, CEO

Author of this article

Tibor believes having a good stockbroker is everybody's privilege. He worked extensively in the financial industry, including at Morgan Stanley and at The Boston Consulting Group (BCG). He advised leading European banks on strategy, finance and risk management.

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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75% of retail CFD accounts lose money
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69.10% of retail CFD accounts lose money
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70.16% of retail CFD accounts lose money
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76.4% of retail CFD accounts lose money
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83% of retail CFD accounts lose money
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