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The Cheapest CFD Brokers And Trading Platforms Of 2024

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Discover a comparison of the cheapest CFD brokers and trading platforms of 2024. Importantly, CFD or contract of difference allows traders to speculate on the underlying price of an asset. With this method, traders typically don’t own assets like forex, commodities, and shares. Indeed, they get to trade the price movements of the different financial markets. As a trader getting started with futures CFD brokers, you need to know some of the cheapest platforms to trade with. This way, you can understand potential costs and maximize your profits. Keep reading for a detailed comparison of the cheapest CFD brokers and trading platforms of 2024.

AvaTrade

First, AvaTrade is one of the cheapest CFD brokers before you start trading. With a minimum deposit of $100, AvaTrade requires this minimum entry fee before you start trading. In addition, you may encounter fees through bid-ask spreads with currency pairs.

Of course, spreads can change frequently and are different for each set of assets. If you’re looking to minimize your AvaTrade forex spread, they tend to be lower for more common currencies. When comparing AvaTrade vs Exness brokers, the spreads vary depending on your forex pairs. For example, EUR/USD may only have a spread of 0.9 pips, while NZD/USD might have closer to 1.8. Fortunately, AvaTrade charges no commissions or fees on most other assets – like stocks and options. Plus, you can trade with minimum capital on best AvaTrade platforms for FX and CFD trading.

In short, consider AvaTrade as you look for the best CFD brokers of 2024.

XTB

Next, XTB is another one of the cheapest CFD brokers of 2024. One of the best platforms for beginners, this broker doesn’t usually charge trading commissions. Therefore, you just need to cover the market spread. For instance, XTB’s forex spreads usually start from 0.1 pips. Since XTB offers over 5,500 commodities, forex, and cryptocurrencies, you can access all these CFD brokers for US citizens without paying a commission. Plus, XTB allows you to trade with no minimum deposit. Plus, you can even get a free demo account with nearly $100,000 in virtual funds. With FCA-regulation, XTB is also a safe, reliable broker for beginners getting started. Absolutely, consider XTB as you compare the cheapest CFD brokers.

Pepperstone

In addition, Pepperstone is another one of the cheapest CFD trading brokers of 2024. Like XTB, Pepperstone doesn’t charge a minimum deposit. Plus, it has a zero-dollar withdrawal fee, setting it apart from other platforms. With Pepperstone, you also don’t incur any inactivity fees – so you’re not penalized for not actively using your account. According to the Pepperstone review, the FX fees are also relatively low as well, at about $3.50 per lot per trade. You can also access low index CFD fees and low stock CFD fees as well. Of course, keep in mind that you can incur high costs for position holdings overnight. This way, you can plan your trading strategy to minimize fees. Undoubtedly, consider Pepperstone as you compare the cheapest CFD trading platforms.

Saxo

Moreover, Saxo is another one of the best CFD broker platforms to consider this year. Best for high-volume traders, this platform is known for its excellent, competitive pricing. For example, an average spread on EUR/USD tends to cost between 0.9 and 1.1 pips – depending on your account type. In addition, you can also trade with a $0 minimum deposit if you open their classic account. Saxo is also commission-free, so it makes money right off the spread in forex. Notably, Saxo offers higher-tier accounts – including Platinum and VIP. While these have higher minimum deposits, you can qualify for upgrades with Saxo’s Loyalty Program. Certainly, consider Saxo as one of the cheapest CFD brokers, especially if you’re looking to trade at a high volume.

City Index

Furthermore, City Index is another one of the best CFD brokers to consider. With a $0 account minimum, this platform is great new and intermediate traders getting started with CFDs. Typically, they offer competitive minimum and average spreads as well. For example, they often offer 0.50 minimum pips and 0.69 average for EUR/USD. Withdrawals are free with this broker as well. Of course, pay attention to inactivity fees – as you may incur a charge if you don’t use your account for a year or longer. Fortunately, many traders like City Index for its easy-to-read pricing page, so you can keep track of any fees. Surely, consider City Index as you choose from the cheapest CFD brokers in 2024.

There are several cheapest top CFD trading platforms and brokers compare in 2024. First, consider AvaTrade lower spreads on common currencies. Next, XTB is great if you need an account with no minimum deposit and strong demo options. In addition, Pepperstone offers relatively low forex fees as well. Of course, consider Saxo if you’re looking for a great platform for high-volume trades. Furthermore, City Index is also well-known for its competitive rates. Consider the points above to discover a comparison of the cheapest CFD brokers and top CFD trading platforms of 2024.

Picture of Chad Axelrod
Chad Axelrod

Chad Axelrod is a professional trader and market analyst with 15+ years of industry experience. Starting his career on Wall Street, he quickly realized his passion for writing and finance. Through his posts, reviews, and broker comparisons - he believes beginner and seasoned traders should make informed decisions while selecting a broker. At BrokerageToday.com, Chad prioritizes publishing unbiased and transparent reviews.

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