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Best CFD brokers in Luxembourg in 2021

To help you find the best CFD broker in Luxembourg for 2021, we went ahead and did the research for you. First, we selected 79 quality online brokers, then we checked and compared their CFD fees, product selection, deposit and withdrawal options, trading platforms and more. We dug deep so you don't have to. 5 brokers made it to the top in Luxembourg. We strongly recommend all 5 to you. And now, without further ado...

Our top 5 picks for the best CFD brokers of 2021 for citizens in Luxembourg:

  1. XTB is the best CFD broker in Luxembourg in 2021. Low forex fees. Free and fast deposit and withdrawal. Easy and fast account opening.
  2. City Index takes the second place. Low fees for forex. Fast and smooth account opening. Diverse research tools.
  3. CMC Markets rounds out the top three. Low forex fees. Great web and mobile platforms. Advanced research and educational tools.
  4. eToro, is ranked fourth. Free stock and ETF trading . Seamless account opening. Social trading experience.
  5. ActivTrades. Just made it to the list by moving to the fifth spot. Low trading fees. Free deposit and withdrawal. Good customer support and education services.
Best CFD brokers in 2021 for Luxembourgish citizens
Broker CFD fee score CFD product selection score
#1 XTB 3.1 stars 4.3 stars
#2 City Index 2.9 stars 5.0 stars
#3 CMC Markets 2.8 stars 5.0 stars
#4 eToro 3.3 stars 4.3 stars
#5 ActivTrades 4.5 stars 3.7 stars

What makes a good CFD broker? First of all, fair fees. They should provide access to lots of products as well as easy account opening and depositing. Having a great trading platform is also a strong plus for a good CFD broker.

Easy to list, but hard to figure out. We are testing brokers based on more than 300 criteria with real accounts and real money. We know what's going on. 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 that kind of risks. 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 the name of 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 Luxembourgish citizens in 2021 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, 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. 82% 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 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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82% of retail CFD accounts lose money

#1 XTB
Fees
3.7

XTB has low forex fees and there is 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
Free withdrawal for transfers above $100
XTB trading fees
XTB City Index CMC Markets eToro ActivTrades
S&P 500 index CFD fee $1.4 $1.2 $1.5 $1.5 $1.0
Europe 50 index CFD fee $1.8 $1.9 $1.9 $2.7 $0.7
Apple CFD $8.2 $10.2 $10.2 $2.1 $1.2
Vodafone CFD $9.9 $13.3 $12.0 - $2.3
EURUSD benchmark fee $8.3 $6.3 $8.0 $8.8 $7.5
GBPUSD benchmark fee $6.0 $5.5 $7.1 $8.5 $5.9

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

XTB non-trading fees
XTB City Index CMC Markets eToro ActivTrades
Account fee No No No No No
Inactivity fee Yes Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $5 $0

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82% 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 City Index CMC Markets eToro ActivTrades
Currency pairs (#) 49 84 338 47 48
Stock index CFDs (#) 42 22 92 13 27
Stock CFDs (#) 1,800 4,500 8,000 2,000 660
ETF CFDs (#) 114 690 1,000 145 500
Commodity CFDs (#) 22 29 136 14 15
Bond CFDs (#) - 12 56 - 5
Cryptos (#) 25 6 15 16 -
XTB product selection, besides CFDs
XTB City Index CMC Markets eToro ActivTrades
Stock Yes No No Yes No
ETF Yes No No Yes 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 No

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82% 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 City Index CMC Markets eToro ActivTrades
Minimum deposit $0 $100 $0 $200 $1,000
Time to open account 1 day 1 day 1-3 days 1 day 1 day

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82% 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 City Index CMC Markets eToro ActivTrades
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 $5 $0

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82% 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 City Index CMC Markets eToro ActivTrades
Web platform score 4.4 stars 4.3 stars 4.4 stars 4.4 stars 3.8 stars
Mobile platform score 4.4 stars 4.3 stars 4.4 stars 4.9 stars 4.3 stars
Desktop platform score 4.4 stars 3.0 stars 3.4 stars - 3.4 stars
Can you set leverage manually? No No No Yes Yes

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82% 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 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 are 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 3.7 stars
Recommended for Forex and CFD traders looking for low fees and great deposit/withdrawal service

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82% of retail CFD accounts lose money

City Index Logo

#2 Best CFD broker
City Index

4.6

City Index is a global CFD and FX broker that was founded in 1983. City Index is the trading brand of GAIN Capital, which is listed on the New York Stock Exchange. The company is regulated by top-tier financial authorities, such as the UK's Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC) and the Monetary Authority of Singapore (MAS). 

City Index is considered safe because it has a long track record, it is regulated by top-tier financial authorities, and its parent company is listed on a stock exchange.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% 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 forex fees and great research tools

Pros Cons
Low fees for forex Limited product portfolio
Fast and smooth account opening High stock CFD fees
Diverse research tools Non-user-friendly desktop platform

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73% of retail CFD accounts lose money

#2 City Index
Fees
3.8

City Index has low fees for forex and there is no withdrawal fee. On the other hand, stock CFD fees are high and there is an inactivity fee after one year.
Pros Cons
Low forex fees Inactivity fee
No withdrawal fee High stock CFD fees
City Index trading fees
XTB City Index CMC Markets eToro ActivTrades
S&P 500 index CFD fee $1.4 $1.2 $1.5 $1.5 $1.0
Europe 50 index CFD fee $1.8 $1.9 $1.9 $2.7 $0.7
Apple CFD $8.2 $10.2 $10.2 $2.1 $1.2
Vodafone CFD $9.9 $13.3 $12.0 - $2.3
EURUSD benchmark fee $8.3 $6.3 $8.0 $8.8 $7.5
GBPUSD benchmark fee $6.0 $5.5 $7.1 $8.5 $5.9

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

City Index non-trading fees
XTB City Index CMC Markets eToro ActivTrades
Account fee No No No No No
Inactivity fee Yes Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $5 $0

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73% of retail CFD accounts lose money

#2 City Index
Markets and products
2.0

At City Index, you can only trade with CFDs, forex, and cryptos. Other asset classes, like real stocks or funds, are not available.
City Index CFD markets
XTB City Index CMC Markets eToro ActivTrades
Currency pairs (#) 49 84 338 47 48
Stock index CFDs (#) 42 22 92 13 27
Stock CFDs (#) 1,800 4,500 8,000 2,000 660
ETF CFDs (#) 114 690 1,000 145 500
Commodity CFDs (#) 22 29 136 14 15
Bond CFDs (#) - 12 56 - 5
Cryptos (#) 25 6 15 16 -
City Index product selection, besides CFDs
XTB City Index CMC Markets eToro ActivTrades
Stock Yes No No Yes No
ETF Yes No No Yes 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 No

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73% of retail CFD accounts lose money

#2 City Index
Account opening
5.0

City Index's account opening process is fully digital and there is no minimum deposit. It took one day for us to get the account approved.
Pros Cons
Fast None
Fully digital
No minimum deposit
City Index minimum deposit and time to open an account
XTB City Index CMC Markets eToro ActivTrades
Minimum deposit $0 $100 $0 $200 $1,000
Time to open account 1 day 1 day 1-3 days 1 day 1 day

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73% of retail CFD accounts lose money

#2 City Index
Deposit and withdrawal
4.3

City Index provides multiple deposit and withdrawal options, all free of charge. However, withdrawal is not possible with some credit cards.
Pros Cons
Credit/Debit card available Problem with credit card withdrawal
Free withdrawal
No deposit fee
City Index withdrawal fee and options
XTB City Index CMC Markets eToro ActivTrades
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 $5 $0

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73% of retail CFD accounts lose money

#2 City Index
Web trading platform
4.3

City Index's web trading platform is user-friendly and extremely customizable, with lots of order types. On the negative side, there is no two-step login.
Pros Cons
User-friendly No two-step (safer) login
Good customizability (for charts, workspace)
Good variety of order types
Best CFD brokers - City Index trading platform
City Index trading platforms
XTB City Index CMC Markets eToro ActivTrades
Web platform score 4.4 stars 4.3 stars 4.4 stars 4.4 stars 3.8 stars
Mobile platform score 4.4 stars 4.3 stars 4.4 stars 4.9 stars 4.3 stars
Desktop platform score 4.4 stars 3.0 stars 3.4 stars - 3.4 stars
Can you set leverage manually? No No No Yes Yes

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73% of retail CFD accounts lose money

#2 City Index
Verdict

City Index is a great CFD and forex broker regulated by top-tier financial authorities, such as the UK's FCA.

On the positive side, it has low forex fees, a smooth account opening process, and high-quality research tools.

It has some drawbacks though. The product portfolio is limited, stock CFD fees are quite high and the desktop platform lags behind its competitors.

As there is no minimum balance required, no withdrawal fee and an inactivity fee only kicks in after one year, feel free to try City Index.

City Index
Summary City Index is a global CFD broker, regulated by many financial authorities including the top-tier UK FCA. Its parent company, GAIN Capital is listed on the New York Stock Exchange.
Fees score 3.8 stars
Recommended for Forex and CFD traders looking for low forex fees and great research tools

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73% of retail CFD accounts lose money

CMC Markets Logo

#3 Best CFD broker
CMC Markets

4.6

CMC Markets is a global CFD and forex broker, founded in 1989. It is regulated by several authorities globally, including the top-tier UK Financial Conduct Authority (FCA). The company is also listed on the London Stock Exchange.

CMC Markets is considered safe because it has a long track record, is listed on stock exchange, 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.

Recommended for forex and cfd traders looking for an advanced trading platform with many research tools

Pros Cons
Low forex fees High stock CFD fees
Great web and mobile platforms Limited product portfolio
Advanced research and educational tools Complicated account verification

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76% of retail CFD accounts lose money

#3 CMC Markets
Fees
3.5

CMC Markets has competitive forex fees, and no fee is charged for deposits and most withdrawals. However, stock CFD fees are high.
Pros Cons
Low forex fees High stock CFD fees
No withdrawal fee
CMC Markets trading fees
XTB City Index CMC Markets eToro ActivTrades
S&P 500 index CFD fee $1.4 $1.2 $1.5 $1.5 $1.0
Europe 50 index CFD fee $1.8 $1.9 $1.9 $2.7 $0.7
Apple CFD $8.2 $10.2 $10.2 $2.1 $1.2
Vodafone CFD $9.9 $13.3 $12.0 - $2.3
EURUSD benchmark fee $8.3 $6.3 $8.0 $8.8 $7.5
GBPUSD benchmark fee $6.0 $5.5 $7.1 $8.5 $5.9

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

CMC Markets non-trading fees
XTB City Index CMC Markets eToro ActivTrades
Account fee No No No No No
Inactivity fee Yes Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $5 $0

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76% of retail CFD accounts lose money

#3 CMC Markets
Markets and products
2.2

CMC Markets's product selection covers only CFDs, forex and crypto. You can't trade other popular asset classes such as real stocks, bonds, mutual funds, options or futures.
CMC Markets CFD markets
XTB City Index CMC Markets eToro ActivTrades
Currency pairs (#) 49 84 338 47 48
Stock index CFDs (#) 42 22 92 13 27
Stock CFDs (#) 1,800 4,500 8,000 2,000 660
ETF CFDs (#) 114 690 1,000 145 500
Commodity CFDs (#) 22 29 136 14 15
Bond CFDs (#) - 12 56 - 5
Cryptos (#) 25 6 15 16 -
CMC Markets product selection, besides CFDs
XTB City Index CMC Markets eToro ActivTrades
Stock Yes No No Yes No
ETF Yes No No Yes 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 No

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76% of retail CFD accounts lose money

#3 CMC Markets
Account opening
4.1

The account opening process is fully digital and there's no minimum deposit, but confusion about what documents to upload for identification can prolong the verification process.
Pros Cons
Fully digital Complicated account verification
No minimum deposit
CMC Markets minimum deposit and time to open an account
XTB City Index CMC Markets eToro ActivTrades
Minimum deposit $0 $100 $0 $200 $1,000
Time to open account 1 day 1 day 1-3 days 1 day 1 day

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76% of retail CFD accounts lose money

#3 CMC Markets
Deposit and withdrawal
4.8

You can use multiple deposit/withdrawal options and CFD account base currencies. Withdrawals are mostly free, except for same-day or international bank withdrawals.
Pros Cons
Credit/Debit card available £15 fee for international bank transfers
No deposit fee
Several account base currencies
CMC Markets withdrawal fee and options
XTB City Index CMC Markets eToro ActivTrades
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 $5 $0

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76% of retail CFD accounts lose money

#3 CMC Markets
Web trading platform
4.4

CMC's 'Next Generation' platform has a clean and modern design, is highly customizable, and boasts an advanced order panel. On the other hand, it lacks two-step authentication.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace)
Modern design
Best CFD brokers - CMC Markets trading platform
CMC Markets trading platforms
XTB City Index CMC Markets eToro ActivTrades
Web platform score 4.4 stars 4.3 stars 4.4 stars 4.4 stars 3.8 stars
Mobile platform score 4.4 stars 4.3 stars 4.4 stars 4.9 stars 4.3 stars
Desktop platform score 4.4 stars 3.0 stars 3.4 stars - 3.4 stars
Can you set leverage manually? No No No Yes Yes

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76% of retail CFD accounts lose money

#3 CMC Markets
Verdict

CMC Markets is overseen by top-tier regulators and is one of the best CFD and forex brokers out there. 

On the plus side, it has low forex fees, well-developed trading platforms, and useful research and educational tools.

There are also a few drawbacks, though. Stock CFD fees are high, and the account verification process is not always seamless. Also, its product selection covers only CFD and forex asset classes, meaning no real stocks, bonds or mutual funds.

Feel free to test CMC Markets's first-class trading platform, as it has great features and requires no minimum deposit to open an account.

CMC Markets
Summary CMC Markets is a UK-based Global CFD and Forex Broker, regulated by multiple top-tier regulators like the UK FCA.
Fees score 3.5 stars
Recommended for Forex and CFD traders looking for an advanced trading platform with many research tools

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76% of retail CFD accounts lose money

eToro Logo

#4 Best CFD broker
eToro

4.7

eToro is a well-known Israeli fintech company, a social trading broker, established in 2007.

eToro serves UK clients through a unit regulated by the Financial Conduct Authority (FCA) and Australians through an Australian Securities and Investment Commission (ASIC) regulated entity. All other customers are served by a Cypriot unit that is regulated by the Cyprus Securities and Exchange Commission (CySEC).

eToro is not listed on any stock exchange, does not disclose its annual report on its site and does not have a bank parent.

eToro is considered safe because its UK and Australian arms are regulated by top-tier financial authorities and it is a well-known fintech company.

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 traders interested in social trading (i.e. copying other investors’ trades) & zero commission stock trading

Pros Cons
Free stock and ETF trading High non-trading fees
Seamless account opening Only one account base currency
Social trading experience Customer support can be improved

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Your capital is at risk

#4 eToro
Fees
4.3

eToro offers free stock and ETF trading. The forex and CFD fees are average. On the negative side, non-trading fees are high: there is a $5 withdrawal fee and an inactivity fee is also charged.
Pros Cons
Low trading fees High non-trading fees
Free stock and ETF trading
eToro trading fees
XTB City Index CMC Markets eToro ActivTrades
S&P 500 index CFD fee $1.4 $1.2 $1.5 $1.5 $1.0
Europe 50 index CFD fee $1.8 $1.9 $1.9 $2.7 $0.7
Apple CFD $8.2 $10.2 $10.2 $2.1 $1.2
Vodafone CFD $9.9 $13.3 $12.0 - $2.3
EURUSD benchmark fee $8.3 $6.3 $8.0 $8.8 $7.5
GBPUSD benchmark fee $6.0 $5.5 $7.1 $8.5 $5.9

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

eToro non-trading fees
XTB City Index CMC Markets eToro ActivTrades
Account fee No No No No No
Inactivity fee Yes Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $5 $0

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Your capital is at risk

#4 eToro
Markets and products
3.8

At eToro you can trade with CFDs and forex, as well as real stocks, ETFs and many cryptocurrencies. In addition, the broker offers innovative services like social trading and CopyPortfolio.
eToro CFD markets
XTB City Index CMC Markets eToro ActivTrades
Currency pairs (#) 49 84 338 47 48
Stock index CFDs (#) 42 22 92 13 27
Stock CFDs (#) 1,800 4,500 8,000 2,000 660
ETF CFDs (#) 114 690 1,000 145 500
Commodity CFDs (#) 22 29 136 14 15
Bond CFDs (#) - 12 56 - 5
Cryptos (#) 25 6 15 16 -
eToro product selection, besides CFDs
XTB City Index CMC Markets eToro ActivTrades
Stock Yes No No Yes No
ETF Yes No No Yes 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 No

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Your capital is at risk

#4 eToro
Account opening
5.0

Account opening at eToro is seamless and very fast.
Pros Cons
Fast None
Fully digital
Low minimum deposit
eToro minimum deposit and time to open an account
XTB City Index CMC Markets eToro ActivTrades
Minimum deposit $0 $100 $0 $200 $1,000
Time to open account 1 day 1 day 1-3 days 1 day 1 day

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Your capital is at risk

#4 eToro
Deposit and withdrawal
3.5

Depositing money is free and easy, with a lot of available options, including credit cards. However, there is a withdrawal fee and only USD accounts are available.
Pros Cons
Credit/Debit card available Only one account base currency
No deposit fee $5 withdrawal fee
User-friendly Conversion fee for non-USD deposits
eToro withdrawal fee and options
XTB City Index CMC Markets eToro ActivTrades
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 $5 $0

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Your capital is at risk

#4 eToro
Web trading platform
4.4

eToro offers a user-friendly and well-designed web trading platform. Social trading is available, too. On the other hand, the customizability is limited.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report
Two-step (safer) login
Best CFD brokers - eToro trading platform
eToro trading platforms
XTB City Index CMC Markets eToro ActivTrades
Web platform score 4.4 stars 4.3 stars 4.4 stars 4.4 stars 3.8 stars
Mobile platform score 4.4 stars 4.3 stars 4.4 stars 4.9 stars 4.3 stars
Desktop platform score 4.4 stars 3.0 stars 3.4 stars - 3.4 stars
Can you set leverage manually? No No No Yes Yes

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Your capital is at risk

#4 eToro
Verdict

eToro has zero-commission stock trading. The account opening is swift and seamless. It has a lot of innovative features, like social trading and copying other (successful) traders.

It has some drawbacks, though. Non-trading fees are high and eToro only allows USD accounts, which means that conversion costs on deposits and withdrawals can be high in some cases. Live chat is hard to reach and their educational materials could be better.

Overall, we would recommend eToro for its social trading feature and zero-commission stock trading.

Risk disclaimer

eToro is a multi-asset platform that offers both investing in stocks and crypto assets as well as trading CFD assets.

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.

Cryptoassets are volatile instruments that can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading crypto assets is unregulated and therefore is not supervised by any EU regulatory framework.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

eToro
Summary eToro is a global social trading broker. It is regulated by top-tier authorities such as the UK FCA or Australia's ASIC.
Fees score 4.3 stars
Recommended for Traders interested in social trading (i.e. copying other investors’ trades) & zero commission stock trading

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Your capital is at risk

ActivTrades Logo

#5 Best CFD broker
ActivTrades

4.4

ActivTrades is a global forex broker founded in 2001. It is regulated by the UK's Financial Conduct Authority (FCA) and the Securities Commission of the Bahamas (SCB). 

ActivTrades is considered safe because it has a long track record and it is regulated by a top-tier financial authority, the FCA.

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.

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

Pros Cons
Low trading fees Slim product portfolio
Free deposit and withdrawal Basic research tools
Good customer support and education services High minimum deposit

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76% of retail CFD accounts lose money

#5 ActivTrades
Fees
4.3

ActivTrades has low trading fees and average non-trading fees. It's great that the broker charges no deposit and withdrawal fees in most cases.
Pros Cons
Low trading fees Inactivity fee
No withdrawal fee
ActivTrades trading fees
XTB City Index CMC Markets eToro ActivTrades
S&P 500 index CFD fee $1.4 $1.2 $1.5 $1.5 $1.0
Europe 50 index CFD fee $1.8 $1.9 $1.9 $2.7 $0.7
Apple CFD $8.2 $10.2 $10.2 $2.1 $1.2
Vodafone CFD $9.9 $13.3 $12.0 - $2.3
EURUSD benchmark fee $8.3 $6.3 $8.0 $8.8 $7.5
GBPUSD benchmark fee $6.0 $5.5 $7.1 $8.5 $5.9

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

ActivTrades non-trading fees
XTB City Index CMC Markets eToro ActivTrades
Account fee No No No No No
Inactivity fee Yes Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $5 $0

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76% of retail CFD accounts lose money

#5 ActivTrades
Markets and products
1.4

At ActivTrades you can only trade forex and other CFDs. Popular asset classes, such as real stocks, bonds, mutual funds and options are not available.
ActivTrades CFD markets
XTB City Index CMC Markets eToro ActivTrades
Currency pairs (#) 49 84 338 47 48
Stock index CFDs (#) 42 22 92 13 27
Stock CFDs (#) 1,800 4,500 8,000 2,000 660
ETF CFDs (#) 114 690 1,000 145 500
Commodity CFDs (#) 22 29 136 14 15
Bond CFDs (#) - 12 56 - 5
Cryptos (#) 25 6 15 16 -
ActivTrades product selection, besides CFDs
XTB City Index CMC Markets eToro ActivTrades
Stock Yes No No Yes No
ETF Yes No No Yes 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 No

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76% of retail CFD accounts lose money

#5 ActivTrades
Account opening
3.8

Account opening at ActivTrades is seamless and fully digital. The whole process took less, than five minutes. Our account was verified within one business day. On the downside, the minimum deposit is high.
Pros Cons
Fast Minimum deposit is $1,000
Fully digital
User-friendly
ActivTrades minimum deposit and time to open an account
XTB City Index CMC Markets eToro ActivTrades
Minimum deposit $0 $100 $0 $200 $1,000
Time to open account 1 day 1 day 1-3 days 1 day 1 day

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76% of retail CFD accounts lose money

#5 ActivTrades
Deposit and withdrawal
4.5

ActivTrades offers free deposit and withdrawal options, including traditional methods such as bank transfer and credit card, as well as various e-wallets. On the other hand, minor currencies are not accepted.
Pros Cons
Credit/Debit card available Minor account currencies not available
Free withdrawal
No deposit fee
ActivTrades withdrawal fee and options
XTB City Index CMC Markets eToro ActivTrades
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 $5 $0

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76% of retail CFD accounts lose money

#5 ActivTrades
Web trading platform
3.8

ActivTrades has its own web trading platform called ActivTrader. It's highly customizable, available in several languages and has a clear fee report. On the flip side, the platform lacks a two-step login and price alerts.
Pros Cons
User-friendly No two-step (safer) login
Clear fee report
Good search function
Best CFD brokers - ActivTrades trading platform
ActivTrades trading platforms
XTB City Index CMC Markets eToro ActivTrades
Web platform score 4.4 stars 4.3 stars 4.4 stars 4.4 stars 3.8 stars
Mobile platform score 4.4 stars 4.3 stars 4.4 stars 4.9 stars 4.3 stars
Desktop platform score 4.4 stars 3.0 stars 3.4 stars - 3.4 stars
Can you set leverage manually? No No No Yes Yes

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76% of retail CFD accounts lose money

#5 ActivTrades
Verdict

All in all, ActivTrades is a good CFD/forex broker.

ActivTrades has low trading fees, while deposits and withdrawals are free. Customer support is great and it has excellent education tools, including webinars and market analysis.  

On the downside, its product portfolio is limited to just a few products, as it offers mainly CFDs and forex instruments. The research tools are basic, and there are no trading ideas or fundamental data. The minimum deposit is high, at $/€/£/CHF 1,000, depending on the currency of your account.

As the trading fees are low and your account will be ready quickly, feel free to try ActivTrades.

ActivTrades
Summary ActivTrades is a UK CFD and forex broker. It is regulated by the FCA and is available globally for clients.
Fees score 4.3 stars
Recommended for Forex and CFD traders looking for low fees and great deposit/withdrawal conditions

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76% 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 CFD fees or the number of CFDs offered can help find the best CFD broker for you.

In 2021, we ranked CFD brokers based on more than 300 criteria. We list below only the five most important criteria to make sure you don't get overwhelmed.

5 most important criteria for the best CFD brokers in 2021
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. Products and markets: You want to trade with Amazon or Bitcoin CFDs? They might not be available. Check the product coverage before opening an account.
3. Account opening: Some brokers require a minimum deposit, while others don't. Check what the conditions are at the best CFD brokers.
4. Deposit and withdrawal: Transferring money to your account can be 5 times slower and more expensive from one CFD broker to another.
5. Web trading platform: A user-friendly and well-equipped trading platform can significantly increase your comfort.

Best CFD brokers
CFD broker fees

Fees, fees and fees. We bet fees are always on 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 not easy to compare CFD broker fees, but we are here to help. There are two categories: trading-related fees and non-trading fees.

Trading-related fees

As 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 looked at the following products:

  • Stock index - S&P 500 index CFD and Europe 50 index CFD
  • Stock - Apple CFD and Vodafone CFD
  • Forex - EURUSD and GBPUSD

Our assumptions included opening a position, holding it for a week, and then closing it. We calculated with the following positions: $2,000 for stock index and stock CFDs and a $20,000 forex position. These real-life assumptions make CFD fees comparable.

Compare more fees

Best CFD brokers
CFD brokers explained

CFDs are derivatives, where you can make bets on the price movement of a wide range of products. 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 bet on whether the price of an asset will go up or down, without buying the underlying asset. Let's say you want to profit from the Microsoft stock price going up. At an online stockbroker, you would simply 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 them, you can easily hurt yourself.

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

Why would this be interesting for you? Well, CFDs have three big advantages:

  • 1. You can make bets on all kinds of products. 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 return on your bet will be much bigger than with owning the actual stock. But this certainly carries greater risks, so you should 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, 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 “Bust Brokers.” The worst happens, and Bust Brokers goes bust. Bob's Siemens stock is in custody with his custody service provider. This means that sooner or later he will be able to access it again. However, Janet did not own any stock, only 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 regulation of CFDs changed significantly in the last few years. One of the most significant changes were the measures European Securities and Markets Authority (ESMA) published back in 2018. Most recently the Australian regulator followed ESMA's direction and introduced similar regulations for brokers operating in Australia. These measures clearly show how regulators globally aim to protect retail investors from the dark side of the retail brokerage industry.

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

The new ESMA and ASIC regulation is aimed at lowering the proportion of accounts suffering losses. Here are the measures with their explanations:

  • Limiting leverage: it was not uncommon to be able to open a position with 400:1 leverage. The possible maximum leverage is now 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 one or more of your positions.
  • Negative balance protection: you cannot lose more money than you invested.
  • Restrictions on marketing and incentive tools: instead of promoting CFD trading by get-rich-quick, promises, brokers have to clearly show what percentage of their customers are losing money.

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

You should be aware that investor protection regulation is different in every jurisdiction. You should always check the relevant rules.

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 for transparency.
  • Banks are the 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 once again the best CFD brokers in 2021 for citizens in Luxembourg:

Best CFD brokers in 2021 for Luxembourgish citizens
XTB City Index CMC Markets eToro ActivTrades
Overall score 4.6 4.6 4.6 4.7 4.4
Fees score 3.7 stars 3.8 stars 3.5 stars 4.3 stars 4.3 stars
Markets and products score 2.8 stars 2.0 stars 2.2 stars 3.8 stars 1.4 stars
Account opening score 5.0 stars 5.0 stars 4.1 stars 5.0 stars 3.8 stars
Deposit and withdrawal score 4.5 stars 4.3 stars 4.8 stars 3.5 stars 4.5 stars
Web platform score 4.4 stars 4.3 stars 4.4 stars 4.4 stars 3.8 stars
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82% of retail CFD accounts lose money
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76% of retail CFD accounts lose money

XTB is our winner, the best CFD broker for Luxembourgish citizens in 2021. Low forex fees. Free and fast deposit and withdrawal. Easy and fast account opening.

All the 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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