CFDs, or Contracts For Difference, are derivatives that allow you to profit if the price moves in the direction you anticipate without buying or selling any stock.
As a result, they can be used as part-exchange for stocks and shares.
These tools give investors an edge over others using traditional investment strategies. They help reduce risk and bring traders together with like-minded people who share their approach.
Using technology that is easy to use and readily accessible anywhere allows everyone to play on an even field.
The tools below will give you prima facie benefits over other participants by allowing you to make better decisions due to having more information.
The most popular CFDs strategies include day trading, scalping, trend trading, and swing trading.
The tools that we have gathered below are all low-cost or free. We have tested them out to see which one provides the best result.
Here they are in no particular order:
Trading Central is a UK-based company that offers a wide range of services from training courses to daily webinars and their platform.
Their philosophy is based on being transparent and giving access to those people who want it. They have been featured in publications such as the Financial Times and Money Week and secured investments from FastForward Innovations with others forthcoming.
They were also awarded the top prize for ‘Best Newcomer – Trading & Technology’ at the Spear’s Wealth Management Awards in 2015.
The platform offers a range of features that include real-time quotes, research, and an interactive chat facility that allows members to discuss strategies and provide feedback.
The training section provides free information to sharpen your skills before committing to a particular strategy within the platform.
OANDA is a global leader in currency data and forex trading with offices across North America, Europe, and the Asia Pacific.
To indicate their size, they have been around since 1995, having started from humble beginnings.
They now have over 410 employees worldwide, including 55 nationalities working from 9 locations worldwide, including London, Berlin, and Sydney.
Their interactive platform provides a range of services; real-time quotes, research, and social networking among traders with accessible chat facilities, allowing customers to interact with one another.
ETX Capital is an award-winning provider of online trading platforms and financial spread betting for new and experienced traders.
They offer the complete package from cutting-edge technology to customer service; you will not be disappointed.
Funded by Excalibur Ventures (whose shareholders include City Index), CMC Markets UK & Icecap, they have over 15 years of experience in providing innovative markets across Forex, CFDs, Precious Metals, Energy, and Commodities.
All at low margins, so you keep your profits! You can trade with confidence; ETX Capital is fully regulated by the Financial Conduct Authority (FCA) in the UK under reference number 429610
City Index is another leading provider of online trading platforms for new and experienced traders with award-winning technology that includes real-time quotes, stock screeners, research, and an interactive platform, Community Centre.
It provides an easy-to-use platform for beginners and experienced traders alike.
They pride themselves on transparency by providing all costs upfront, so you know what you are paying for their services. So they don’t use ‘drip pricing’, which happens when you add up all the fees at the end of purchase or sale.
Traders can interact through various social media applications to discuss strategies and provide feedback.
They use an order execution management system that can process up to2,000 orders per second.
They are an FCA regulated company authorized and regulated in the UK by the Financial Conduct Authority under reference number432613
IG is one of the most popular CFD providers in the UK, with offices worldwide.
They offer a range of low-cost tools, including spreads starting at just 0.8 pips on major pairs, Daily Market Reviews, Daily Technical Analysis Videos, and Forex Trader To-Do List.
For more information, link to CFD trading in the UK.