Best CFD brokers in Grenada in 2024

Written by
Krisztián G.
Fact checked by
Tamás D.
Updated
2w ago

Find below the strengths of the best CFD brokers available in Grenada, updated for 2024:

  1. XTB is the best CFD broker in Grenada in 2024. - Commission-free stocks and ETFs (for trades up to €100k per month). Free and fast deposit and withdrawal. Easy and fast account opening. Interest paid on cash.
  2. FP Markets - Low forex fees. Easy and fast account opening and funding. Great education tools.
  3. Admirals (Admiral Markets) - Low forex CFD fees. Free and fast deposit and withdrawal. Straightforward account opening.
  4. IC Markets - Low forex fees. Easy and fast account opening. Free deposit and withdrawal. Offers standard and raw spread accounts.
  5. Capital.com - Low forex CFD fees. Great account opening experience. Excellent email and chat support.
  6. Spreadex - Low forex fees. Good web platform. Helpful customer service.
  7. FxPro - Superb account opening process. Great customer service. Free deposit and withdrawal.
  8. Oanda - Great trading platforms. Outstanding research tools. Fast and user-friendly account opening.
  9. FXTRADING.com - Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
  10. Forex.com - Low forex fees. Great variety of currency pairs. Diverse technical research tools.

Key features of the best CFD brokers

While many online CFD brokers and trading platforms offer an excellent service, the ones in our toplist go the extra mile.

Broker
Minimum deposit
Time to open account
XTB
$0
1 day
FP Markets
$50
1 day
Admirals (Admiral Markets)
$100
1 day
IC Markets
$200
1 day
Capital.com
$20
1 day
Spreadex
$0
1-3 days
FxPro
$100
1 day
Oanda
$0
1-3 days
FXTRADING.com
$50
1 day
Forex.com
$100
1-3 days
Best CFD brokers key data compiled for October 2024

Popularity of the best CFD brokers in Grenada

Interested in what others think? Here's how many people chose these brokers at BrokerChooser in the last 6 months.

Trading fees at the best CFD brokers

How much you have to pay for a trade in spreads, commissions and other trading costs is a key broker selection criteria. Check the spreads in the table below. In case of stock CFD, we calculate the fees for a $2,000 trade held for 1 week.

Broker
S&P 500 CFD spread
Apple CFD fee
XTB
0.5
$9.4
FP Markets
0.5
$7.5
Admirals (Admiral Markets)
0.4
$3.7
IC Markets
0.2
$1.6
Capital.com
0.8
$5.0
Spreadex
0.4
$11.7
FxPro
1.0
$5.1
Oanda
0.3
$3.3
FXTRADING.com
0.3
-
Forex.com
0.4
$23.2
Fees at the top CFD brokers

If you are unsure how brokerage fees work, check out this article on the various fees, charges and costs.

Non-trading fees at the top CFD brokers

Non-trading fees are charges not directly related to a given trade and typically include the account maintenance fee, deposit/withdrawal fees, and the inactivity fee.

Broker
Withdrawal fee
Inactivity fee
XTB
$0
FP Markets
$0
Admirals (Admiral Markets)
$0
IC Markets
$0
Capital.com
$0
Spreadex
$0
FxPro
$0
Oanda
$0
FXTRADING.com
$0
Forex.com
$0
Non-trading fees at the top CFD brokers in October 2024

Can I trust these CFD brokers in Grenada?

Yes, BrokerChooser exclusively recommends legit brokers, overseen by at least one globally acknowledged regulator. We track more than 20,000 brokers and trading platforms that we don't recommend. To be sure that a broker is reputable and reliable, use our Scam Broker Shield tool.

Key criteria determining a broker's trustworthiness are: regulation, availability of investor protection, as well as a long and spotless track record. Explore the interactive table below, encompassing this array of vital data.

Broker
Top-tier regulators
Trusted broker
XTB
FCA in the UK
FP Markets
ASIC in Australia
Admirals (Admiral Markets)
FCA in the UK and ASIC in Australia
IC Markets
ASIC in Australia
Capital.com
FCA in the UK and ASIC in Australia
Spreadex
FCA in the UK
FxPro
FCA in the UK
Oanda
FCA in the UK, CIRO in Canada, and ASIC in Australia
FXTRADING.com
ASIC in Australia
Forex.com
CFTC in the US, FCA in the UK, and ASIC in Australia
Trust metrics for the best CFD brokers in Grenada in 2024
We label a broker as trusted if it has reliable regulation.

Product selection at the top CFD brokers

Check out what types of CFDs you can trade at the best CFD brokers and CFD trading platforms.

Broker
Stock index CFD
Stock CFD
XTB
FP Markets
Admirals (Admiral Markets)
IC Markets
Capital.com
Spreadex
FxPro
Oanda
FXTRADING.com
Forex.com

What is CFD trading?

CFDs, short for contracts for difference, are derivative products used to speculate on the price movements of a wide range of financial instruments. A CFD is a contract between two parties under which the seller pays the buyer the difference between the current value of an asset and its value at the time the contract is due.

When trading CFDs, you speculate on whether the price of movement of a financial instrument (i.e. stock, bond, commodity, etc.) will go up or down, without owning the underlying asset . Instead of buying a Vodafone stock, at a CFD broker you will speculate on the direction you think the Vodafone stock will go. If your guess is right, you will make profit on your CFD trade.

There are, however, two [free financial zones in the UAE, which have their own regulatory regimes, albeit they still impose stringent rules to protect clients. These are the Abu Dhabi Global Market (ADGM) and, the better known Dubai International Financial Center (DIFC).

CFDs are leveraged products, meaning that you trade with your own money as well as funds you borrow from your broker. This makes CFD trading extremely risky and not suitable for beginners. A very high percentage of retail traders lose money when trading CFDs.

CFD trading is illegal in the U.S.. However, if you open an account at a European broker, you will be able to trade CFDs on U.S. assets.

And now, let's see the top international online brokers for 2024 for residents in Grenada in detail one by one, starting with the winner, XTB.

XTB Logo

XTB

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

Visit broker
76% of retail CFD accounts lose money

XTB snapshot
Minimum deposit $0
Deposit methods Bank transfer, Credit/debit cards, Paysafe, Skrill, ecommpay, PayU, PayPal
Withdrawal methods Bank transfer
Mobile app score 4.4 stars
Read review For a detailed analysis of XTB services, check out our review for 2024.

Recommended for forex and CFD traders familiar with the MetaTrader and IRESS trading platforms

Visit broker
72.5% of retail CFD accounts lose money

FP Markets snapshot
Minimum deposit $50
Deposit methods Bank transfer, Credit/debit cards, Neteller, Skrill, PayPal, Asia Banks, Sticpay, fasapay, Virtual Pay, Rupee Payments, Rapyd, Perfect Money, pagsmile, Cryptocurrency Solution, Crypto (finrax), mybux, ypay, Apple Pay, Google Pay, B2Binpay
Withdrawal methods Bank transfer, Credit/debit cards, Neteller, Skrill, PayPal, Asia Banks, Sticpay, fasapay, Virtual Pay, Rupee Payments, Rapyd, Perfect Money, pagsmile, Cryptocurrency Solution, Crypto (finrax), mybux, ypay, Apple Pay, Google Pay, B2Binpay
Mobile app score 3.8 stars
Read review For a detailed analysis of FP Markets services, check out our review for 2024.

Recommended for forex traders who are familiar with the MetaTrader trading platforms

Visit broker
74% of retail CFD accounts lose money

Admirals (Admiral Markets) snapshot
Minimum deposit $100
Deposit methods Bank transfer, Credit/debit cards, Skrill, PayPal, Klarna, Neteller, SafetyPay, AstroPay, Trustly, Rapid Transfer, NganLuong, Perfect Money
Withdrawal methods Bank transfer, Credit/debit cards, Skrill, PayPal, Klarna, Neteller, SafetyPay, AstroPay, Trustly, Rapid Transfer, NganLuong, Perfect Money
Mobile app score 4.3 stars
Read review For a detailed analysis of Admirals (Admiral Markets) services, check out our review for 2024.

Recommended for forex and CFD traders who value easy account opening and free deposit/withdrawal options

Visit broker
70.64% of retail CFD accounts lose money

IC Markets snapshot
Minimum deposit $200
Deposit methods Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, Visa Direct, SafeCharge, Transact365, eCommPay, CardPay, Bpay, FasaPay, Poli, RapidPay, Klarna
Withdrawal methods Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, Visa Direct, SafeCharge, Transact365, eCommPay, CardPay, Bpay, FasaPay, Poli, RapidPay, Klarna
Mobile app score 3.8 stars
Read review For a detailed analysis of IC Markets services, check out our review for 2024.

Recommended for investors and CFD traders looking for a great trading platform and excellent customer service

Visit broker
83.51% of retail CFD accounts lose money

Capital.com snapshot
Minimum deposit $20
Deposit methods Bank transfer, Credit/debit cards, Apple Pay, PayPal, Neteller, Skrill, Sofort, Trustly
Withdrawal methods Bank transfer, Credit/debit cards, Apple Pay, PayPal, Neteller, Skrill, Sofort, Trustly
Mobile app score 4.9 stars
Read review For a detailed analysis of Capital.com services, check out our review for 2024.

Recommended for spread, forex and CFD traders looking for low fees and great deposit/withdrawal options

Visit broker
64% of retail CFD accounts lose money

Spreadex snapshot
Minimum deposit $0
Deposit methods Bank transfer, Credit/debit cards
Withdrawal methods Bank transfer, Credit/debit cards
Mobile app score 4.5 stars
Read review For a detailed analysis of Spreadex services, check out our review for 2024.

Recommended for forex and CFD traders looking for a broker with great account opening and who are familiar with the MetaTrader platform

Visit broker
74% of retail CFD accounts lose money

FxPro snapshot
Minimum deposit $100
Deposit methods Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller
Withdrawal methods Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller
Mobile app score 4.3 stars
Read review For a detailed analysis of FxPro services, check out our review for 2024.

Recommended for forex traders who value a user-friendly platform and great research tools

Visit broker
75% of retail CFD accounts lose money

Oanda snapshot
Minimum deposit $0
Deposit methods Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller
Withdrawal methods Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller
Mobile app score 4.9 stars
Read review For a detailed analysis of Oanda services, check out our review for 2024.

Recommended for forex traders who prefer the MetaTrader platform

Visit broker
74-89% of retail CFD accounts lose money

FXTRADING.com snapshot
Minimum deposit $50
Deposit methods Bank transfer, Credit/debit cards, PayPal, Neteller, UnionPay, USDT
Withdrawal methods Bank transfer, PayPal, Neteller, UnionPay, USDT
Mobile app score 3.8 stars
Read review For a detailed analysis of FXTRADING.com services, check out our review for 2024.

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

Visit broker
74-76% of retail CFD accounts lose money

Forex.com snapshot
Minimum deposit $100
Deposit methods Bank transfer, Credit/debit cards, Skrill, Neteller, PayPal
Withdrawal methods Bank transfer, Credit/debit cards, Skrill, Neteller, PayPal
Mobile app score 4.5 stars
Read review For a detailed analysis of Forex.com services, check out our review for 2024.

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How did BrokerChooser select the best CFD brokers?

  • We checked whether the broker is regulated by a trusted regulator,
  • Compared fees (including spreads, withdrawal fee, commission),
  • Specifically compared CFD fees,
  • Looked at the range of CFDs available,
  • Opened an account and tested the platform (charting, features, usability) with real money.

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FAQ

How risky is CFD trading?

While CFDs have many benefits, including access to a wide range of markets with little capital needed upfront, the ability to bet on falling as well as rising markets, making them very popular with online traders, However, they come with high risk of losing your money.

The biggest risk comes from the use of leverage. Leverage means that you borrow money from your broker, which will enable you to spend more money on opening a position than you otherwise would be able to. It’s also called trading on margin, where margin is the percentage of the total value of the trading position you are required to put down.

At 100:1 leverage, you only need to deposit just 1% of the position’s value. So with $10 you can control a position of $1,000 in value. But if you get your bet wrong, you lose many times the amount you deposited. Leverage amplifies you gains as well as your losses.

There are several other risks involved, such as the risk from inexperience, whereby beginners are bound to make expensive mistakes. There is the risk of choosing an unreliable provider and losing your money that way if it goes bust. Markets are risky by definition due to volatility and a lot of unexpected events that affect them.

To limit these risks you should only trade CFDs if you fully understand them, including risk management tools, such as stop-loss and take profit orders. A lot of brokers offer a good selection of educational materials. Also, you should practice trading on a demo account with virtual funds first, to avoid risking your capital. Only trade live, when you are fully confident.

To better understand CFDs and the risk involved, read this article on CFD trading tips compiled by our team of experts.

Can CFD trading be profitable?

Yes, CFD trading can be profitable and investors may make handsome profits when trading these products. Nevertheless, CFDs are very risky instruments, especially because they are leveraged products. Leverage refers to the loan extended by the broker, which allows you to invest a much larger amount of money. Over three quarters of retail trading accounts lose money when trading CFDs. CFDs are by no means a guarantee for getting rich overnight.

What's the difference between CFDs and shares?

The main difference is ownership. You can get exposure to stock markets by trading share CFDs, whithout owning the underlying share that you are betting on. To trade shares outright, you need to buy them via a broker and you own them. The advantage if share CFDs is that you can speculate on a high number of shares without a big capital outlay. The benefit of owning stocks is that they are ideal for long-term investment.

The other difference is leverage. When you trade CFDs, your broker gives you leverage, a loan, meaning that you are able to control a large position with a small initial deposit. With share trading, you buy a share from your own captital and selling it means that you transfer the ownership rights to a buyer. Typically, share are for investing on a longer time horizon, while CFD trades are typically closed out within the day. Both have their advantages and drawbacks, depending on your circumstances and financial goals.

Are CFDs good for beginners?

CFDs are high risk instruments and are not recommended for beginners. CFDs are very risky because they are leveraged products. Leverage in this case means that you trade with your own money and the funds your broker lends you. While you can open much larger positions this way, you can magnify your profits and your losses. CFDs are widely used by experienced traders with a deep understanding of financial markets and investment strategies. If you are an absolute beginner, it makes sense to open a demo account and do a lot of research. Data shows that over three quarters of retail trading accounts lose money when trading CFDs.

Want to understand CFD trading in more detail?

Check out these articles written by our broker and trading experts:d

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.

author
Krisztián Gátonyi
Author of this article
I have 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. I'm actively involved in reviewing the 100+ brokers listed on our site. I personally open accounts with real money, execute trades, test customer services. I hold an MSc in International Business from the University of Middlesex. My purpose is to help people find the best investment provider.
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