Best CFD brokers in the Republic of the Congo in 2020

XTB
4.6
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80% of retail CFD accounts lose money
XM
4.4
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75.55% of retail CFD accounts lose money
FXTM
4.2
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74% of retail CFD accounts lose money
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Best CFD brokers in the Republic of the Congo in 2020

To find the best CFD broker in the Republic of the Congo for 2020, we went ahead and did the research for you. After testing, analyzing and comparing 67 quality online brokers, we arrived at our top 5 in the Republic of the Congo. We show you our list, you pick your winner. And now, without further ado...

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

  1. XTB is the best CFD broker in the Republic of the Congo 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. FXTM is third. Superb customer service. Great educational tools. Digital and fast account opening.
  4. AvaTrade, in fourth place. Easy and fast account opening. Free and multiple deposit and withdrawal options. Great research tools.
  5. Number five is MarketsX. Free and fast deposit and withdrawal. Easy and fast account opening. Great tools for learning and research.
Best CFD brokers in 2020 for Congolese citizens
Broker Info Score
#1 XTB Global CFD and forex broker 4.6
#2 XM Global CFD and forex broker 4.4
#3 FXTM Global CFD and forex broker 4.2
#4 AvaTrade Global CFD and forex broker 4.4
#5 MarketsX Global CFD and forex broker 3.9

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

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

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

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

And now, let's see the best CFD brokers for Congolese 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. 80% 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

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80% 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 FXTM AvaTrade MarketsX
S&P 500 index CFD fee $2.0 $2.4 $1.6 $0.9 $2.6
Europe 50 index CFD fee $2.2 $2.4 $2.4 $0.6 $2.5
EURUSD benchmark fee $15.0 $17.1 $18.5 $19.2 $24.5
GBPUSD benchmark fee $11.1 $14.0 $15.9 $15.7 $25.0

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

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

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80% 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 FXTM AvaTrade MarketsX
Minimum deposit $250 $5 $500 $100 $250
Time to open account 1 day 1 day 1 day 1 day 1 day

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80% of retail CFD accounts lose money

#1 XTB
Deposit and withdrawal
4.5

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 FXTM AvaTrade MarketsX
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 $3 $0 $0

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80% of retail CFD accounts lose money

#1 XTB
Markets and products
2.8

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 FXTM AvaTrade MarketsX
Currency pairs (#) 49 57 48 56 55
Stock index CFDs (#) 42 18 11 24 11
Stock CFDs (#) 1,700 1,139 188 630 2,000
ETF CFDs (#) 103 - - 5 42
Commodity CFDs (#) 18 8 3 17 17
Bond CFDs (#) 3 - - 2 4
Cryptos (#) 25 5 4 17 5
XTB product selection, besides CFDs
XTB XM FXTM AvaTrade MarketsX
Stock Yes Yes Yes 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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80% 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, 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 FXTM AvaTrade MarketsX
Web platform score 4.4 stars 2.8 stars 2.8 stars 3.3 stars 3.3 stars
Mobile platform score 4.3 stars 3.8 stars 3.8 stars 4.7 stars 3.8 stars
Desktop platform score 4.4 stars 3.3 stars 3.3 stars 3.3 stars -
Can you set leverage manually? No No Yes No No

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80% 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 stars
Recommended for Forex and CFD traders looking for low fees and great deposit/withdrawal service

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80% of retail CFD accounts lose money

XM Logo

#2 Best CFD broker
XM

4.4

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

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

Trading.com was launched in 2019 and is available only for EEA residents, except those living in Belgium, Cyprus, Greece and Switzerland. Trading.com is regulated by the UK's 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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75.55% of retail CFD accounts lose money

#2 XM
Fees
3.8

XM has low trading fees for CFDs and charges no withdrawal fee. On the other hand, 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 FXTM AvaTrade MarketsX
S&P 500 index CFD fee $2.0 $2.4 $1.6 $0.9 $2.6
Europe 50 index CFD fee $2.2 $2.4 $2.4 $0.6 $2.5
EURUSD benchmark fee $15.0 $17.1 $18.5 $19.2 $24.5
GBPUSD benchmark fee $11.1 $14.0 $15.9 $15.7 $25.0

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

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

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75.55% 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 FXTM AvaTrade MarketsX
Minimum deposit $250 $5 $500 $100 $250
Time to open account 1 day 1 day 1 day 1 day 1 day

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75.55% of retail CFD accounts lose money

#2 XM
Deposit and withdrawal
5.0

XM's deposit and withdrawal functions are fast and inexpensive, and offer you several options.
Pros Cons
Credit/Debit card available None
Free withdrawal
No deposit fee
Free wire withdrawal above $200
XM withdrawal fee and options
XTB XM FXTM AvaTrade MarketsX
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 $3 $0 $0

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75.55% of retail CFD accounts lose money

#2 XM
Markets and products
2.5

At XM, you can trade CFDs, forex and cryptos; non-European clients can also trade some real stocks. There are no ETFs, mutual funds, bonds, options or futures.
XM CFD markets
XTB XM FXTM AvaTrade MarketsX
Currency pairs (#) 49 57 48 56 55
Stock index CFDs (#) 42 18 11 24 11
Stock CFDs (#) 1,700 1,139 188 630 2,000
ETF CFDs (#) 103 - - 5 42
Commodity CFDs (#) 18 8 3 17 17
Bond CFDs (#) 3 - - 2 4
Cryptos (#) 25 5 4 17 5
XM product selection, besides CFDs
XTB XM FXTM AvaTrade MarketsX
Stock Yes Yes Yes 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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75.55% of retail CFD accounts lose money

#2 XM
Web trading platform
2.8

XM's web trading platform 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 FXTM AvaTrade MarketsX
Web platform score 4.4 stars 2.8 stars 2.8 stars 3.3 stars 3.3 stars
Mobile platform score 4.3 stars 3.8 stars 3.8 stars 4.7 stars 3.8 stars
Desktop platform score 4.4 stars 3.3 stars 3.3 stars 3.3 stars -
Can you set leverage manually? No No Yes No No

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75.55% of retail CFD accounts lose money

#2 XM
Verdict

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

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

XM has some drawbacks though. Its product range is limited to FX, CFDs and cryptos, with stock trading only available for non-European users. Its forex fees are average, and a monthly $5 fee is charged after three months of inactivity. 

We recommend XM for those who are interested in CFD and forex trading and prefer 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 3.8 stars
Recommended for Forex and CFD traders who prefer MetaTrader platforms and seek low trading fees

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75.55% of retail CFD accounts lose money

FXTM Logo

#3 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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74% of retail CFD accounts lose money

#3 FXTM
Fees
3.4

FXTM's trading fees are low for stock index CFD fees, while average or low for forex. On the negative side, the stock CFD fees are high.
Pros Cons
Low fees for stock index CFDs High stock CFD fees
Low EURCHF and EURGBP fees
FXTM trading fees
XTB XM FXTM AvaTrade MarketsX
S&P 500 index CFD fee $2.0 $2.4 $1.6 $0.9 $2.6
Europe 50 index CFD fee $2.2 $2.4 $2.4 $0.6 $2.5
EURUSD benchmark fee $15.0 $17.1 $18.5 $19.2 $24.5
GBPUSD benchmark fee $11.1 $14.0 $15.9 $15.7 $25.0

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

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

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74% of retail CFD accounts lose money

#3 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 FXTM AvaTrade MarketsX
Minimum deposit $250 $5 $500 $100 $250
Time to open account 1 day 1 day 1 day 1 day 1 day

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74% of retail CFD accounts lose money

#3 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 FXTM AvaTrade MarketsX
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 $3 $0 $0

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74% of retail CFD accounts lose money

#3 FXTM
Markets and products
2.4

FXTM's product selection covers forex CFDs and cryptos. Non-EU clients can also trade with real stocks. On the negative side, it lacks ETFs, mutual funds, bonds, options, and futures.
FXTM CFD markets
XTB XM FXTM AvaTrade MarketsX
Currency pairs (#) 49 57 48 56 55
Stock index CFDs (#) 42 18 11 24 11
Stock CFDs (#) 1,700 1,139 188 630 2,000
ETF CFDs (#) 103 - - 5 42
Commodity CFDs (#) 18 8 3 17 17
Bond CFDs (#) 3 - - 2 4
Cryptos (#) 25 5 4 17 5
FXTM product selection, besides CFDs
XTB XM FXTM AvaTrade MarketsX
Stock Yes Yes Yes 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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74% of retail CFD accounts lose money

#3 FXTM
Web trading platform
2.8

The web trading platform of FXTM is provided by MetaTrader. It is highly customizable, available in a lot of languages, and has a clear fee report. On the other hand, it lacks a two-step login and price alerts, and the design is outdated.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation
Best CFD brokers - FXTM trading platform
FXTM trading platforms
XTB XM FXTM AvaTrade MarketsX
Web platform score 4.4 stars 2.8 stars 2.8 stars 3.3 stars 3.3 stars
Mobile platform score 4.3 stars 3.8 stars 3.8 stars 4.7 stars 3.8 stars
Desktop platform score 4.4 stars 3.3 stars 3.3 stars 3.3 stars -
Can you set leverage manually? No No Yes No No

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74% of retail CFD accounts lose money

#3 FXTM
Verdict

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

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

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

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

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

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74% of retail CFD accounts lose money

AvaTrade Logo

#4 Best CFD broker
AvaTrade

4.4

AvaTrade is a global CFD and FX broker founded in 2006. It is regulated by several financial authorities, such as the Central Bank of Ireland.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex and cfd traders looking for an option to use metatrader platforms

Pros Cons
Easy and fast account opening Only CFDs, forex, and cryptos offered
Free and multiple deposit and withdrawal options High EURUSD and inactivity fees
Great research tools Phone support is not responsive

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79% of retail CFD accounts lose money

#4 AvaTrade
Fees
3.5

AvaTrade has average trading fees and average non-trading fees. Withdrawal is free of charge but there is an inactivity fee.
Pros Cons
Low trading fees Inactivity fee
No withdrawal fee Administration fee
AvaTrade trading fees
XTB XM FXTM AvaTrade MarketsX
S&P 500 index CFD fee $2.0 $2.4 $1.6 $0.9 $2.6
Europe 50 index CFD fee $2.2 $2.4 $2.4 $0.6 $2.5
EURUSD benchmark fee $15.0 $17.1 $18.5 $19.2 $24.5
GBPUSD benchmark fee $11.1 $14.0 $15.9 $15.7 $25.0

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

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

Visit broker More
79% of retail CFD accounts lose money

#4 AvaTrade
Account opening
5.0

Account opening at AvaTrade is seamless and fully digital. You can start trading literally in minutes.
Pros Cons
Fast None
Fully digital
Low minimum deposit
AvaTrade minimum deposit and time to open an account
XTB XM FXTM AvaTrade MarketsX
Minimum deposit $250 $5 $500 $100 $250
Time to open account 1 day 1 day 1 day 1 day 1 day

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79% of retail CFD accounts lose money

#4 AvaTrade
Deposit and withdrawal
4.5

AvaTrade deposit and withdrawal are free and can be done by using several methods. On the flip side, the withdrawal took us more than 3 business days.
Pros Cons
Free withdrawal Slow withdrawal - over 3 days
No deposit fee
Credit/Debit cards, electronic wallet available
AvaTrade withdrawal fee and options
XTB XM FXTM AvaTrade MarketsX
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 $3 $0 $0

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79% of retail CFD accounts lose money

#4 AvaTrade
Markets and products
2.0

AvaTrade gives access only to CFDs, such as forex CFD or stock CFD. It doesn't offer popular asset classes, such as real stocks, bonds, or mutual funds.
AvaTrade CFD markets
XTB XM FXTM AvaTrade MarketsX
Currency pairs (#) 49 57 48 56 55
Stock index CFDs (#) 42 18 11 24 11
Stock CFDs (#) 1,700 1,139 188 630 2,000
ETF CFDs (#) 103 - - 5 42
Commodity CFDs (#) 18 8 3 17 17
Bond CFDs (#) 3 - - 2 4
Cryptos (#) 25 5 4 17 5
AvaTrade product selection, besides CFDs
XTB XM FXTM AvaTrade MarketsX
Stock Yes Yes Yes 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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79% of retail CFD accounts lose money

#4 AvaTrade
Web trading platform
3.3

AvaTrade's Webtrading platform is user-friendly and well-designed. The search functions and the portfolio/fee reports are great. On the negative side, it lacks customizability, two-step login, and price alerts.
Pros Cons
User-friendly No two-step (safer) login
Clear fee report Limited customizability (for charts, workspace)
Good search function No price alerts
Best CFD brokers - AvaTrade trading platform
AvaTrade trading platforms
XTB XM FXTM AvaTrade MarketsX
Web platform score 4.4 stars 2.8 stars 2.8 stars 3.3 stars 3.3 stars
Mobile platform score 4.3 stars 3.8 stars 3.8 stars 4.7 stars 3.8 stars
Desktop platform score 4.4 stars 3.3 stars 3.3 stars 3.3 stars -
Can you set leverage manually? No No Yes No No

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79% of retail CFD accounts lose money

#4 AvaTrade
Verdict

AvaTrade is regulated by several authorities globally, including the top-tier Central Bank of Ireland and the Australian Securities and Investments Commission (ASIC) therefore it is considered safe.

We liked the seamless and hassle-free account opening. You can use a lot of deposit and withdrawal options and they are free of charge. We also liked that you can use many user-friendly tools for research. 

AvaTrade has some drawbacks though. The product range is limited to forex, CFDs, and cryptos, and there is a high fee charged for EURUSD trading and inactivity.

As there is only a small minimum deposit, and your account will be ready quickly, feel free to try AvaTrade.

AvaTrade
Summary AvaTrade is a global forex and CFD broker. It is regulated by several financial authorities globally, including the Central Bank of Ireland and Australia's ASIC.
Fees score 3.5 stars
Recommended for Forex and CFD traders looking for an option to use MetaTrader platforms

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79% of retail CFD accounts lose money

MarketsX Logo

#5 Best CFD broker
MarketsX

3.9

Markets.com has done a rebranding in 2019 and the new brand for trading is MarketsX.

Markets.com was founded in 2010 and it is a global CFD and FX broker. It is regulated by several financial authorities, like the Cypriot CySEC or the UK FCA. 

It is considered safe, because it's regulated by at least one top-tier financial authority.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.3% 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 looking to venture into cfd trading

Pros Cons
Free and fast deposit and withdrawal High trading fees
Easy and fast account opening Limited product portfolio
Great tools for learning and research Important features missing on trading platforms

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81.3% of retail CFD accounts lose money

#5 MarketsX
Fees
2.0

MarketsX charges no account, deposit or withdrawal fees and the CFD fees are low, too. On the flip side, financing rates and forex fees are high and inactivity fee can kick in as well.
Pros Cons
No withdrawal fee High trading fees
Low CFD fees High forex fees
High financing rate
MarketsX trading fees
XTB XM FXTM AvaTrade MarketsX
S&P 500 index CFD fee $2.0 $2.4 $1.6 $0.9 $2.6
Europe 50 index CFD fee $2.2 $2.4 $2.4 $0.6 $2.5
EURUSD benchmark fee $15.0 $17.1 $18.5 $19.2 $24.5
GBPUSD benchmark fee $11.1 $14.0 $15.9 $15.7 $25.0

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

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

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81.3% of retail CFD accounts lose money

#5 MarketsX
Account opening
5.0

Account opening at MarketsX is seamless, fast and fully digital. You can open your trading account within a day.
Pros Cons
Fast None
Fully digital
Low minimum deposit
MarketsX minimum deposit and time to open an account
XTB XM FXTM AvaTrade MarketsX
Minimum deposit $250 $5 $500 $100 $250
Time to open account 1 day 1 day 1 day 1 day 1 day

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81.3% of retail CFD accounts lose money

#5 MarketsX
Deposit and withdrawal
4.5

MarketsX provides multiple deposit and withdrawal options free of charge on a user-friendly interface.
Pros Cons
Credit/Debit card available None
Free withdrawal
No deposit fee
MarketsX withdrawal fee and options
XTB XM FXTM AvaTrade MarketsX
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 $3 $0 $0

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81.3% of retail CFD accounts lose money

#5 MarketsX
Markets and products
1.8

MarketsX has a limited product portfolio as you can only trade with CFDs, forex, a couple of cryptos and CFD funds.
MarketsX CFD markets
XTB XM FXTM AvaTrade MarketsX
Currency pairs (#) 49 57 48 56 55
Stock index CFDs (#) 42 18 11 24 11
Stock CFDs (#) 1,700 1,139 188 630 2,000
ETF CFDs (#) 103 - - 5 42
Commodity CFDs (#) 18 8 3 17 17
Bond CFDs (#) 3 - - 2 4
Cryptos (#) 25 5 4 17 5
MarketsX product selection, besides CFDs
XTB XM FXTM AvaTrade MarketsX
Stock Yes Yes Yes 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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81.3% of retail CFD accounts lose money

#5 MarketsX
Web trading platform
3.3

MarketsX's web trading platform is easy to use, has a clear fee report and good search function. On the other hand, we missed the two-step login, the customizability, and the order confirmation.
Pros Cons
User-friendly No two-step (safer) login
Clear fee report Limited customizability (for charts, workspace)
Good search function No order confirmation
Best CFD brokers - MarketsX trading platform
MarketsX trading platforms
XTB XM FXTM AvaTrade MarketsX
Web platform score 4.4 stars 2.8 stars 2.8 stars 3.3 stars 3.3 stars
Mobile platform score 4.3 stars 3.8 stars 3.8 stars 4.7 stars 3.8 stars
Desktop platform score 4.4 stars 3.3 stars 3.3 stars 3.3 stars -
Can you set leverage manually? No No Yes No No

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81.3% of retail CFD accounts lose money

#5 MarketsX
Verdict

In this review, we tested MarketsX thoroughly and here is the verdict: it is an ok broker, especially if you want to concentrate on CFD trading. The account opening is seamless and fast, it has good research tools and great customer service and it is also regulated by multiple top-tier financial regulators, like the FCA and the ASIC. On the other hand, the trading fees are high and it offers only CFDs and forex. We also missed some important features on the trading platforms like two-step authentication or price alerts on the web.

All in all, it is a good choice. As the account opening is super easy and there is no inactivity fee, feel free to try it.

MarketsX
Summary MarketsX is a brand belonging to Markets.com, a global CFD and forex broker regulated by the UK FCA, Australia's ASIC, CySEC in Cyprus, and South Africa's FSCA, among others. It has a UK parent, which is listed on the London Stock Exchange.
Fees score 2.0 stars
Recommended for Traders looking to venture into CFD trading

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81.3% of retail CFD accounts lose money

Best CFD brokers
What makes a good CFD broker?

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

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

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

Best CFD brokers
CFD broker fees

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

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

Trading-related fees

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

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

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

Compare more fees

Best CFD brokers
CFD brokers explained

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

CFDs are derivatives: you bet on price movements

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

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

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

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

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

Not owning the underlying asset exposes you to additional risks

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

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

Best CFD brokers
CFD regulations and security

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

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

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

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

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

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

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

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

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

Compare protection amounts

Best CFD brokers
Bottom line

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

Best CFD brokers in 2020 for Congolese citizens
XTB XM FXTM AvaTrade MarketsX
Overall score 4.6 4.4 4.2 4.4 3.9
Fees score 4.0 stars 3.8 stars 3.4 stars 3.5 stars 2.0 stars
Account opening score 5.0 stars 5.0 stars 5.0 stars 5.0 stars 5.0 stars
Deposit and withdrawal score 4.5 stars 5.0 stars 4.0 stars 4.5 stars 4.5 stars
Markets and products score 2.8 stars 2.5 stars 2.4 stars 2.0 stars 1.8 stars
Web platform score 4.4 stars 2.8 stars 2.8 stars 3.3 stars 3.3 stars
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80% of retail CFD accounts lose money
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75.55% of retail CFD accounts lose money
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74% of retail CFD accounts lose money
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79% of retail CFD accounts lose money
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81.3% of retail CFD accounts lose money

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

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

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

Gergely Korpos

Gergely Korpos

Co-founder, CPO

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.

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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80% of retail CFD accounts lose money
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75.55% of retail CFD accounts lose money
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74% of retail CFD accounts lose money
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79% of retail CFD accounts lose money
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81.3% of retail CFD accounts lose money
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