Five Tips To Help You Find The Right Cfd Provider

Five Tips To Help You Find The Right CFD Provider

CFDs, or Contracts For Difference, have become a very popular way to trade on the underlying markets. People new to trading can be overwhelmed with the choice available to them when choosing a CFD provider. Here are five tips that can help you decide if a provider is right for you.

1)Transparent fees

Every CFD broker will charge a transaction fee for a trade. Most providers will charge you a low percentage commission and, in addition, many will have a minimum amount for each fee. Finding a CFD provider with reasonable fees is obviously important, but equally as important is finding a provider that openly lists their fees. A reputable provider will be open with the fees that they may charge, such as the cost for holding open long positions over 24 hours, and will list them clearly on their website. Any administration charges should be clearly labelled as well, although ideally there should be none.

2)The number of available CFD markets

The number of tradable CFDs can change depending on the provider. You should be able to confirm what markets are offered from the provider on their website or by contacting them, so make sure you check if a particular CFD product you want is available.

3)Trading platforms and software

An integral part of choosing your CFD provider will be the trading platform technology they provide. Every trader wants a piece of software that is fast enough to give them the most accurate trading prices, as well as having the reliability to be constantly online and updating. Some CFD brokers have also responded to the demand in mobile technology by releasing versions of their trading platforms onto mobile phones and tablet computers. If this is of interest to you, then be sure to choose a provider that delivers these programs. Many providers will also offer a free demo, allowing you to test drive their trading platform and to see if it is right for you.

4)Security and protection

For all the advancement made in technology, it means nothing if the CFD broker does not supply a platform that has the highest levels of security. This also applies to how a provider handles monetary transactions. Given the highly sensitive nature of the information that might be exchanged, it is important for you to look into what security system a broker is using to keep your information safe. Not only that, a trustworthy provider will have strict security policies that you can read before applying.

5)Reputation and awards

Independent bodies frequently investigate and rate Australias biggest CFD providers and award what they deem to be the best brokers around. Providers that feature frequently in these awards can be considered to be among those with the strongest reputation.

IG Markets was ranked as the best CFD provider by Investment Trends market research in May 2011, making IG Markets a premier provider for CFD trading.

Please consider the Product Disclosure Statement available from IG Markets. CFD trading can result in losses that exceed your initial deposit and you do not own or have any interest in the underlying asset.

by: Thomas Roberts

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