Best CFD Trading Platform: What is Your Best Option?

Alexandros Theophanopoulos
13 Min read

How do you determine the best CFD trading platform for your trading activity? Many factors come to mind, including trading tools, available financial instruments, device compatibility, among others. We break down the most important aspects of determining the best CFD trading platform in an attempt to make the decision process easier for our users. While we offer our innovative Dashboard dashboard for both live and demo accounts, you can also take advantage of our free CFD trading tools such as MetaTrader 4 and MetaTrader 5 as well. Let's dive into this topic and see what best CFD trading platform works for you.

Best CFD Trading Platform: An Introduction

For a beginner trader, CFD trading can be complicated, and its complexities might be a little overwhelming. It is therefore important to select the right CFD trading platform - one that meets all of your needs and that is also easy to use.

How can you be sure that you have chosen a best CFD trading platform?

Your chosen CFD trading platform in the UK and elsewhere must be efficient for order entry and cancellation, to enable all of the CFD trading account management capabilities and to facilitate market analysis.

So, what exactly should you look for when it comes to the best CFD trading platform?

Technically, the best CFD trading platform should permit you to gain real-time quotes, analyse the markets, enter orders, and implement strategies. In addition to all this, the best CFD trading platforms will also include a range of other useful tools and indicators.

Now, it's time to discuss the details. Forex brokers supply different trading platforms to their clients, and a considerable number of online CFD brokers may provide the use of different independent platforms, like MetaTrader (MT4) - the best Forex trading platform.

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CFD Trading Platform: Review

If you are a professional trader, you probably already know which platforms are regarded as the most popular and best CFD trading platforms in the UK and around the world. Our CFD platform comparison begins with MetaTrader 4 and MetaTrader 5 (MT5), as these CFD trading apps will give you exactly what you need. This is why MetaTrader CFD trading has become so popular. These two are undoubtedly some of the best CFD platforms and deserve your attention.

Best CFD Platform: MetaTrader 4

The world of CFD trading has adopted the MT4 platform as the market standard CFD trading app, and it is now used by hundreds of brokers worldwide. This was not an accident: the MetaTrader 4 platform offers traders advanced technology and extensive security so that they can open and close positions without ever having to worry about the stability of their trading CFD platform.

These features are part of the reason MT4 CFD trading has become so popular and why MT4 has become one of the best CFD trading platforms in the UK, NZ, UAE and elsewhere.

Chart 1: An example of the MetaTrader 4 trading platform. Disclaimer: Charts for financial instruments in this article are for illustrative purposes and does not constitute trading advice or a solicitation to buy or sell any financial instrument provided by Admirals (CFDs, ETFs, Shares). Past performance is not necessarily an indication of future performance.

Key Features of MT4

What is it that led traders to see MT4 as one of the best CFD trading platforms? First of all, this CFD trading platform possesses a very user-friendly interface to work with, empowering new and experienced traders alike to trade on this volatile market with ease.

The second feature is the support of all major languages. Users worldwide can benefit from the MetaTrader 4 platform and all of its data in their own language, without any additional effort required.

Alongside these useful characteristics, this CFD platform can offer you advanced and revolutionary charting capabilities. In turn, this enables traders to perform trades and to thoroughly analyse the technical elements of the market at the same time.

There is also one very popular and powerful capability within the MetaTrader feature portfolio, and that is Expert Advisors. These are automated trading features that can automatically open and close trades based on preset rules.

They can be sourced from a variety of suppliers to customise and enhance the capabilities of your platform. All of these features make this platform popular for online CFD trading.

Communication Tools in MT4

While considering MT4 as one of the best CFD trading platforms in the UK and around the world for online CFD trading, it would be a mistake not to mention the communication tools available in MT4.

The software incorporates advanced communication tools for brokers to post messages, and to keep communicating with CFD traders in real-time. Long and complicated email threads are thus avoided, leaving you more time to concentrate on your trading.

Unlike a lot of other platforms, MetaTrader 4 requires moderately low resources to run, meaning that it keeps its disruption of your computer to a minimum. This also permits the platform to act much more swiftly, making it possible to accomplish trades and traders' requests straightaway.

In addition, all users can view account information within the platform. Details available include trading history, access details, account balance, and also password information.

When you are dealing with a sensitive and private issue like online CFD trading, you will of course want to ensure that your account is protected from potential hacks and attacks.

Of all the online CFD trading platforms available on the market, MT4 has one of the highest security levels that encrypts the data between a CFD trader and the server with a 128-bit key. The trader's IP address is also completely concealed.

Additionally, MT4 is very flexible and can be used to trade in a variety of other markets like commodities, futures and equities.

All of these features are what have put MT4 at the top of many traders lists of the best CFD trading platforms.

Customisation in MT4

The final point that puts MetaTrader 4 at the top of the list of best CFD trading platforms is that MT4 allows customisation so that CFD traders can tailor the trading platform to meet their own trading needs and practices.

This includes the ability to develop and program your own Expert Advisors and technical indicators using MT4's advanced MQL programming language.

You can also boost the capabilities of MetaTrader with the MetaTrader Supreme Edition plugin from Admirals (formerly Admiral Markets). This excellent plugin enables traders to gain access to additional premium analytics, news, trading insights, and a range of innovative trading tools that enhance the trading experience.

Best CFD Platform: MetaTrader 5

MetaTrader 5 is the latest version of the outstanding and popular MetaTrader trading software, making it another one of the top choices for a CFD trading platform in the UK.

Let's first look at the interface. If you are in control of several accounts, it is easier than ever to manage them with MetaTrader 5. This is because the new accounts window in the 'Navigator' tab permits movement between accounts quickly - facilitating the implementation of different trading strategies in different accounts, with no trouble or unexpected delays. Many MetaTrader 5 CFD traders appreciate this feature.

Chart 2: An example of the MetaTrader 5 trading platform. Disclaimer: Charts for financial instruments in this article are for illustrative purposes and does not constitute trading advice or a solicitation to buy or sell any financial instrument provided by Admirals (CFDs, ETFs, Shares). Past performance is not necessarily an indication of future performance.

If you decide to generate two accounts in which you carry trade and scalp, for instance, it has never been easier to switch between the two categories to respond to unanticipated market events. Day-traders and long-term investors alike, appreciate this useful time-saving feature.

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The Different Types of Indicators in MT5

There are many new indicators in MT5 not available in MT4. MT5 classifies CFD indicators into four different groups, as follows:

Custom indicators are also supported.

All of this makes access to indicators considerably simpler and much faster.

There are also new trend indicators like moving averages such as: the Adaptive Moving Average, the double and triple Exponential Moving Averages (EMA), and also the Variable Index Dynamic Average.

Among these indicators, the Double Exponential Moving Average (DEMA) is actually an advanced tool with minor lag and greater accuracy than a regular EMA.

Among MT5 oscillators, there is the Triple Exponential Average (TRIX). TRIX features a triple exponential moving average and oscillates to nearly a centreline at zero. Efficient and assiduous filtering out of market noise is a noticeable advantage of this indicator.

Among the Bill Williams indicators, there is the new market facilitation index supplement. This tool releases signals based on the mutual interaction between volume, price and the indicator itself. The total number of new indicators in this version of the software is seven.

This variety is another reason why MetaTrader 5 can be considered one of the best CFD trading platforms in the UK.

Chart 3: An example of some of the trading indicators in the MetaTrader 5 trading platform. Disclaimer: Charts for financial instruments in this article are for illustrative purposes and does not constitute trading advice or a solicitation to buy or sell any financial instrument provided by Admirals (CFDs, ETFs, Shares). Past performance is not necessarily an indication of future performance.

Among those, five new trend indicators plainly have the greatest potential. Both double and triple exponential moving averages and their derivatives are the best new additions to the MT5 toolbox.

For those who prefer to use automated trading, MetaTrader 5 has developed an excellent trading script and a strong Expert Advisor.

The MetaTrader 5 script is as powerful as ever, and this new version sees previous bugs and errors addressed. The programming language has also been enhanced and condensed into a more efficient and user-friendly form. In addition, Expert Advisors in MetaTrader 5 empower the 'chart-in-chart style', which allows a more in-depth analysis of the technical strategy being tested.

Conclusion: What is the Best CFD Trading Platform?

So what is the best CFD app? We can't say exactly which is the best, because the best CFD trading app for one trader may not be the best one for another trader. It is extremely important to choose the best CFD trading platform for your specific preferences and trading style. The platform should meet all of your requirements and should work for you.

However, we can say that it is no mystery as to why MetaTrader platforms are considered to be the most popular and serviceable ones. They are uncomplicated yet powerful. Traders can trade CFD options, forex and other instruments from their laptops in the UK and around the world with these platforms.

Don't hesitate to test them both for yourself, as each one is a contender to be one of the best CFD trading platforms.

Now that you have an understanding of what makes a top CFD trading platform, we wish you the best with your CFD trading.

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Frequently Asked Questions

 

What are CFD trading platforms?

CFD trading platforms are online software that allow individuals to trade Contracts for Difference (CFDs), which are derivative financial instruments based on the price movements of various underlying assets like stocks, commodities, indices, or currencies.

 

What makes a CFD trading platform the "best"?

The best CFD trading platform typically offers a user-friendly interface, a wide range of tradable assets, competitive spreads and fees, effective risk management tools, educational resources, and reliable customer support. It should align with your trading goals and preferences.


 

Why choose MetaTrader?

We can't say exactly which platform is the best, because the best CFD trading app for one trader may not be the best one for another trader. We can say that there is no mystery as to why MetaTrader platforms are considered to be the most popular and serviceable ones. They are uncomplicated yet powerful. Traders can trade CFD options, forex and other instruments from their laptops in the UK and around the world with these platforms.

 

INFORMATION ABOUT ANALYTICAL MATERIALS:

The given data provides additional information regarding all analysis, estimates, prognosis, forecasts, market reviews, weekly outlooks or other similar assessments or information (hereinafter “Analysis”) published on the websites of Admiral Markets investment firms operating under the Admiral Markets and Admirals trademarks (hereinafter “Admirals”). Before making any investment decisions please pay close attention to the following:
1. This is a marketing communication. The content is published for informative purposes only and is in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
2. Any investment decision is made by each client alone whereas Admirals shall not be responsible for any loss or damage arising from any such decision, whether or not based on the content.
3. With view to protecting the interests of our clients and the objectivity of the Analysis, Admirals has established relevant internal procedures for prevention and management of conflicts of interest.
4. The Analysis is prepared by an independent analyst (hereinafter “Author”) based on the personal estimations of Alexandros Theophanopoulos (SEO and Content Specialist).
5. Whilst every reasonable effort is taken to ensure that all sources of the content are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admirals does not guarantee the accuracy or completeness of any information contained within the Analysis.
6. Any kind of past or modeled performance of financial instruments indicated within the content should not be construed as an express or implied promise, guarantee or implication by Admirals for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.
7. Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, please ensure that you fully understand the risks involved.

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