The best CFD trading software helps users make informed investment decisions. In this review, we have rounded up the top software for budding traders, from copy trading and automated bots to sophisticated charting and analysis tools. We also explain how to compare various trading platforms, from usability and compatibility to cost and security. Find out which CFD trading software you should download in 2022.
Leading forex and CFD broker since 2006, regulated in Ireland, Australia, Canada, Japan, Abu Dhabi, and South Africa. AvaTrade offers multiple trading platforms, including MT4/5, Web Trader, Mobile App, Vanilla options and Social Trading. +1250 Financial Instruments, Educational content and multilanguage customer support active 24/7. 20% Welcome bonus available on allowed countries.
Leading forex and CFD broker since 2006, regulated in Ireland, Australia, Canada, Japan, Abu Dhabi, and South Africa. AvaTrade offers multiple trading platforms, including MT4/5, Web Trader, Mobile App, Vanilla options and Social Trading. +1250 Financial Instruments, Educational content and multilanguage customer support active 24/7. 20% Welcome bonus available on allowed countries.
Reliable and affordable trading since 2009. Join over 900,000 others trading on 400+ CFD products over assets like forex, gold, indices, cryptocurrency and shares from 0.0 spreads through TradingView, MT4 or MT5. Vantage is ASIC regulated and client funds are segregated. Open an account in under 5 minutes.
Reliable and affordable trading since 2009. Join over 900,000 others trading on 400+ CFD products over assets like forex, gold, indices, cryptocurrency and shares from 0.0 spreads through TradingView, MT4 or MT5. Vantage is ASIC regulated and client funds are segregated. Open an account in under 5 minutes.
XM.com Offer a range of Account types and a low minimum deposit to appeal to all levels of trader. With 1000+ markets and low spreads they offer a great service.
XM.com Offer a range of Account types and a low minimum deposit to appeal to all levels of trader. With 1000+ markets and low spreads they offer a great service.
Skilling are an exciting new brand, regulated in Europe and beyond, with a bespoke browser based platform, allowing seamless low cost trading across devices.
Skilling are an exciting new brand, regulated in Europe and beyond, with a bespoke browser based platform, allowing seamless low cost trading across devices.
Capital.com offer CFDs and Forex CFDs on a huge range of assets, with competitive spreads and zero commission on unique platforms, including the fully functional mobile app.
Capital.com offer CFDs and Forex CFDs on a huge range of assets, with competitive spreads and zero commission on unique platforms, including the fully functional mobile app.
IG offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have a 40 year track record of excellence.
IG offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have a 40 year track record of excellence.
CMC Markets is headquartered in London and listed on the LSE (FCA Regulated). It offers competitive spreads on a global range of assets via its Next Generation platform.
CMC Markets is headquartered in London and listed on the LSE (FCA Regulated). It offers competitive spreads on a global range of assets via its Next Generation platform.
Trading 212 Offer a truly mobile trading experience. With tight spreads and a huge range of markets, they offer a dynamic and detailed trading environment. Recent customer care issues have severely damaged the reputation of the brand.
Trading 212 Offer a truly mobile trading experience. With tight spreads and a huge range of markets, they offer a dynamic and detailed trading environment. Recent customer care issues have severely damaged the reputation of the brand.
Alpari offer forex, CFD and binary options trading across a big range of markets with low spreads and a range of account types that deliver for every level of trader from beginner to professional.
Alpari offer forex, CFD and binary options trading across a big range of markets with low spreads and a range of account types that deliver for every level of trader from beginner to professional.
A CFD, or contract for difference, is a derivative contract that stipulates an agreement between the buyer and seller to exchange the difference between the current price of an asset and the value at the time the contract expires. So if BP’s share price increases after a CFD is purchased, the trader can make a profit from the exchange.
CFDs essentially allow traders to make predictions about price fluctuations without actually owning the underlying asset. CFDs are also normally leveraged, meaning only a small deposit is needed to open a position.
Leveraging provides the potential for much higher profits, but there is also a risk of greater losses. As a result, UK-regulated CFD brokers limit retail leverage to 1:30 and offer negative balance protection, ensuring traders can’t lose more than their account balance.
CFD Trading Software
CFD trading software is essentially a platform or application that allows investors to trade on the financial markets using the internet. On the best platforms, users can scan the markets for potential opportunities, and then execute buy and sell orders with the click of a button. Platforms often include charts and graphs that provide historical and real-time price data, alongside live quotes.
With that said, CFD trading software can come in all shapes and sizes. While some comprehensive trading platforms offer a one-stop shop for managing trading portfolios, other tools specialise in a particular function. For example, some software packages provide advanced technical analysis tools and pattern recognition technology. Other applications focus on developing and deploying automated trading algorithms.
Which software package you download will ultimately depend on your financial goals, trading style and budget.
Types of Applications
When it comes to CFD trading software, there are several popular types of applications:
Computer software – This is where you download software to your computer. This kind of trading platform is often the most reliable and the fastest as it is less reliant on your web browser. However, downloadable software may come with hardware requirements and isn’t a good option if you trade on the go.
Web-based platforms – This kind of platform is gaining popularity with modern traders. Platforms can be opened and used via an internet browser, and the data is normally stored in the cloud, offering flexibility in return for a stable internet connection. Browser-based solutions are a particularly good option for beginners getting started with CFDs.
Mobile apps – Again, these are gaining popularity as they facilitate CFD trading from any location. On the downside, mobile or tablet applications typically offer reduced functionality versus their desktop counterparts. As a result, mobile apps are often best for keeping tabs on open orders as opposed to conducting in-depth technical analysis.
Best CFD Trading Software 2022
Below is a review of the best CFD trading platforms available today.
MetaTrader 4
MT4 is the platform offered by most CFD brokers because it provides a good range of analysis tools alongside a selection of instant and pending orders. In fact, MetaTrader 4 offers 3 execution modes, 2 market orders, 4 pending orders, 2 stop orders and a trailing stop. Users also benefit from 30 integrated indicators, over 2,000 custom indicators, plus 700 paid options.
MT4 also has a user-friendly and customisable interface, so it’s perfect for both beginner and advanced traders. In addition, its expert advisors feature allows for automated trading, so you can open and close trades according to pre-programmed rules.
MetaTrader 4
AvaTrade is one of the best CFD brokers that offers the MetaTrader 4 software.
MetaTrader 5
MT5 is another of the most popular platforms for trading CFDs, also developed by the creators of MT4. It is more advanced than MT4, with sophisticated charts, indicators and tools available.
Users benefit from separate accounting of orders and trades, support for all types of orders and execution modes, plus a Market Depth feature. 38 technical indicators are available, alongside 44 analytical objects, 21 timeframes, 1-minute history and an unlimited number of charts. MT5 also supports algorithmic trading.
This platform is a good option for experienced CFD traders looking for a step up from the MT4 software.
MetaTrader 5
Pepperstone is one of the top-rated CFD brokers that offer MetaTrader 5.
ProRealTime
ProRealTime is designed for automation and technical analysis. This is an advanced CFD trading software that is great for experienced traders looking for powerful market analysis tools.
The platform offers more than 100 technical indicators, market scanning, automated trend detection, plus tick and volume analysis. The software also offers real-time news, strategy backtesting, a scalping mode, plus 4 order book display modes.
Clients can choose from a free end-of-day subscription or a real-time solution. Some brokers also offer the terminal as part of their CFD trading package.
ProRealTime
IG is one of the best CFD brokerages that offer access to ProRealTime.
eToro CopyTrader
eToro offers CFD trading software that allows you to learn from and follow successful traders. Copy trading has become increasingly popular in recent years, offering access to a large community of experienced investors.
The platform hosts thousands of traders, and users can mirror their strategies and positions with ease, choosing a master trader that is aligned to their financial goals and risk appetite.
The firm’s leaderboard shows traders’ average gain over the last 12 months and applies a standardised risk score. There are also no management fees, making it popular with CFD beginners.
eToro CopyTrader
Platform & Software Comparison
There are some features that nearly all platforms provide, which are essential to basic CFD trading, but the availability of more advanced tools can vary between providers, as will the costs for using said features.
So, there is a lot to think about for investors seeking a platform to trade CFDs, especially for beginners getting started. To help you find the right application for your needs, here are some questions to ask yourself:
What Markets Are You Looking To Speculate On?
Platforms offer varying access to underlying markets and assets. Do you want to trade forex pairs with the GBP? Perhaps you want to speculate on FTSE-listed stocks like Diageo or BAE Systems. Alternatively, do you want to trade CFDs on major cryptocurrencies such as Bitcoin?
Note, if you’re not sure which markets you want to trade on, sign up with a software provider that offers access to a wide range of underlying assets.
What Functions Do You Need?
Brokers sometimes charge more for advanced features, so if you don’t need a virtual private server or AI-powered market scanners then you could save yourself money by choosing a beginner-friendly platform.
Software packages like MetaTrader 4 and MetaTrader 5 offer a good balance of features while being relatively straightforward to get to grips with.
What Are You Willing To Spend?
Some CFD trading software is free, for example, the standard platform your online broker will provide, while advanced tools and functionality may come at an extra cost.
Decide what your budget is and remember that you will need to pay off all overheads, including software subscriptions, before you make a profit from CFD trading.
It’s also worth considering the following:
Leverage – Much of the popularity that CFDs have gained is because they can be traded with leverage. Does the provider offer leverage up to 1:30 on the assets you’re interested in? What are the margin requirements and stop-out levels? It is also worth keeping in mind that CFDs are a high-risk instrument, and if you are new to investing then leveraged trading can lead to large losses.
Ease of Use – A good trading platform, whether you’re a beginner or expert trader, should be easy to use and navigate. Look for a platform with an intuitive and slick design. Also check for customisation options so you can build a view that works for you.
Access – The best CFD trading platforms offer broad market access, including stocks and shares, major indices, currency pairs, hard and soft commodities, plus cryptos. It’s also worth noting that a diverse portfolio can help spread risk.
Features – CFD trading software comes with different features. Which tools will bolster your trading experience? Do you need forex heat maps or machine learning-powered market scanners? Do you want to build your own robot for automated trading? If you want to carry out detailed technical analysis then maybe you need a stand-alone charting package.
Bottom Line On CFD Trading Software
CFD trading software connects investors with popular financial markets. Platforms and applications vary in functionality, from offering technical and fundamental analysis alongside trade execution, to niche products that specialise in automated investing.
A useful tip is to check if a software provider or brokerage offers a free demo account so you can try a tool before opening a live account or spending money.
To get started trading CFDs today, use our list of leading brokers and software providers.
FAQ
What Is CFD Trading Software?
CFD trading software is used by traders to analyse the financial markets and make buy and sell decisions. Most top brokers offer comprehensive trading software via a desktop platform or downloadable mobile app. Standard software packages are usually free when you open a live CFD trading account.
What Is The Best CFD Trading Platform?
There are lots of great CFD trading platforms out there, and the best one will depend on the individual trader’s needs. However, the platforms that offer the most to all traders, beginners and experienced, are MT4 and MT5, due to their user-friendly interfaces and wide range of tools.
How Do I Compare CFD Trading Software?
The best way to begin choosing CFD trading software is to get clear on what you need from a platform or application. Do you need advanced charting? Do you want access to the latest financial news and economic releases? Perhaps you want to copy the trades of more experienced investors. Use our guide to choosing CFD trading software to find the right package for your requirements.
What Is The Best CFD Trading Platform For Beginners?
If you are a beginner trader looking for the perfect CFD platform, then one of the best options is MetaTrader 4 (MT4). Available across the world at most leading brokers, this platform offers user-friendly analysis features, instant and pending orders, automated trading, live signals, and more.
