Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

CFI Markets
9.2 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT CFI MARKETS
FP Markets
8.2 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT FP MARKETS
XTB
10 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT XTB
About

CFI Markets is regulated by Financial Conduct Autority, CySEC, BaFIN. CFI Markets have provided Forex, CFD trading services since .

FP Markets is regulated by ASIC. FP Markets have provided Forex, CFD trading services since 2005.

XTB is regulated by the Financial Conduct Authority. XTB have provided Forex, CFD, and social trading services since 2002.

Why choose them?
  • Yes Over 6 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Autority, CySEC, BaFIN
  • Yes Over 13 years in business
  • Yes Segregates clients funds
  • Yes Regulated by ASIC
  • Yes Over 16 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, KNF, and CMB.
Headquarters Gregori Afxentiou 10 ave, Livadiotis Court 5, P.O.Box 6023, Larnaca, Cyprus Sydney, Australia Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) No No Yes
CFD No No Yes
Spread Betting No No No
Social Trading No No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 27 60 48
Commodities Offered 0 18 21
Stocks Offered 0 10000 1606
Bitcoin No No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks No No Yes
Penny stocks No No Yes
Energies Yes No Yes
Metals Yes Yes Yes
Agriculturals No No Yes
FTSE Yes Yes Yes
Dow Jones No Yes Yes
Dax No Yes Yes
Nikkei Yes Yes Yes
ETFs No No Yes
IPO No No Yes
See all instruments

75% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

Losses can exceed deposits

See all instruments

77% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 No No No
MT4 Mac Yes Yes Yes
WebTrader No Yes Yes
Mirror Trader No No Yes
ZuluTrade No No No
Sirix No No No
cTrader No No No
PAMM No Yes No
Custom Platforms No IRESS Xstation5

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes No Yes
Available Languages

English

English and Chinese

English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

See platform & features

75% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

Losses can exceed deposits

See platform & features

77% of retail investor accounts lose money when trading CFDs with this provider.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by CFI Markets and FP Markets

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account No No Yes
Standard account Yes Yes Yes
ECN Account No Yes No
Islamic account Yes No Yes
Zero spread account No No No
VIP account Yes No Yes
Fixed spreads Yes No Yes
Variable spreads Yes Yes Yes
See account options

75% of retail investor accounts lose money when trading CFDs with this provider.

See account options

Losses can exceed deposits

See account options

77% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server No Yes No
Direct market access No Yes Yes
STP broker Yes Yes Yes
Market maker Yes Yes Yes
Min trade 0.01 Lot 0.01 Lot 0.01 Lot
Max trade None 50 Lot 100 Lot
Min deposit $100 $200 $1

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts No Yes Yes
Signal trading No Yes Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal Yes No Yes
Neteller Yes Yes Yes
Skrill No No Yes
Payment processing time Varies 1 business day Same day if requested before 1PM
Withdrawal processing time Varies 1 business day Same day if requested before 1PM
See all funding options

75% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

Losses can exceed deposits

See all funding options

77% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries US, JP, NZ US, JP, NZ US,IN,PK,BD,IQ,IR,IL,AF,AU,CA
Contact email Send Email Send Email Send Email
Phone number +357 24 400270 61 (0)2 8252 6800 44 2036953085
Live Chat Yes Yes Yes
Website http://www.cfimarkets.com/ http://www.fpmarkets.com.au/ www.xtb.com
Spreads:
EUR/USD (Average: 0.7 pips) Not offered Not offered 0.1 pips
GBP/USD (Average: 1.1 pips) Not offered Not offered 0.1 pips
USD/JPY (Average: 1.1 pips) Not offered Not offered 0.1 pips
AUD/USD (Average: 0.8 pips) Not offered Not offered 0.2 pips
USD/CHF (Average: 2.3 pips) Not offered Not offered 0.2 pips
USD/CAD (Average: 2.9 pips) Not offered Not offered 0.3 pips
NZD/USD (Average: 3.6 pips) Not offered Not offered 0.3 pips
EUR/GBP (Average: 2.4 pips) Not offered Not offered 0.1 pips
View all spreads

75% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

Losses can exceed deposits

View all spreads

77% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee Yes No No
Commission No Yes Yes
Deposit Fee Varies Yes No
Withdrawal Fee No No No
View All Fees

75% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

Losses can exceed deposits

View All Fees

77% of retail investor accounts lose money when trading CFDs with this provider.

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Last update

All information collected from http://www.cfimarkets.com/. Last updated on 01/10/2019.

All information collected from http://www.fpmarkets.com.au/. Last updated on 01/10/2019.

All information collected from www.xtb.com. Last updated on 01/10/2019.

Company

Bulbrokers is an online forex trading service provider who are regulated by the The Bulgarian Financial Supervision Commission. To open an account with Bulbrokers, minimum deposits start from $100.

With Bulbrokers you can trade Stocks, options, futures, options on futures, ETF, warrants, indices, bonds, funds and currencies. If you like to trade on the go, Bulbrokers have iPhone appAndroid app so you can trade from anywhere on your phone.

Bulbrokers offer BONO, MetaTrader 4, Trader Workstation, MobileTrader, Web Based Try it) platforms to make your trades and support 6 different languages.

They also offer traders a choice between a real money account and a demo account.

The spreads offered by Bulbrokers for the most popular instruments are:
2.0 EUR/USD, 4.0 FTSE 100, 0.35 GOLD,
4.0 GBP/USD, n/a DOW/JONES, n/a Crude Oil,
see all the spreads here.

FP Markets is an online forex trading service provider who are regulated by the ASIC. To open an account with FP Markets, minimum deposits start from $200.

With FP Markets you can trade CFDs, forex, futures, and shares. If you like to trade on the go, FP Markets have iPhone and Android apps so you can trade from anywhere on your phone.

FP Markets offer The IRESS Suite, Share Trading, FP Live, MetaTrader 4 platforms to make your trades and support 3 different languages.

They also offer traders free educational material to better understand the markets and trading strategies.

The spreads offered by FP Markets for the most popular instruments are:
0.2 EUR/USD, 1.5 FTSE 100, 14 GOLD,
0.6 GBP/USD, n/a DOW/JONES, 5 Crude Oil,
see all the spreads here.

XTB provides hyper fast execution and facilitates seminars with external professional traders, providing personalised education depending on your individual circumstances.

XTB operates with two factors in mind; to provide traders with the fastest execution speeds and to be the most transparent broker on the market, which is reflected by the services and products they provide.

XTB also have a dedicated education area - the Trading Academy - which contains material to help you become a better trader, including video tutorials, trading courses, articles and much more to improve your skills at every step of your trading journey.

If you are looking for a broker that is regulated by the Financial Conduct Authority and focuses on transparency, fast execution speeds and customer service, XTB is a great option.

For more information about trading with XTB, we have put together an in-depth XTB review covering the pros and cons of this broker.

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CFI Markets or FP Markets?

Offers VIP accounts or ECN execution?

If you’re a trader looking for a broker that offers VIP accounts, CFI Markets may be the better option. However, if you want a broker with ECN execution, FP Markets may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider CFI Markets and FP Markets to be equally reliable. We’ve broken down why below:

Who are they regulated by?

CFI Markets is regulated by Financial Conduct Autority, CySEC, BaFIN, while FP Markets is regulated by ASIC.

XTB are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

CFI Markets has been around for 7 years, while FP Markets have been around for 14 years. Our third alternative broker, XTB, have been around for 17 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

CFI Markets uses tier one banks as their banking partner.FP Markets does not use tier one banks as their banking partner.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on CFI Markets or FP Markets in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

FP Markets is more popular with over 10,000 traders.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both CFI Markets and FP Markets are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

CFI Markets are based in Gregori Afxentiou 10 ave, Livadiotis Court 5, P.O.Box 6023, Larnaca, Cyprus, while FP Markets are based in Sydney, Australia .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both CFI Markets and FP Markets offer forex trading. FP Markets have a slightly larger variety of currency pairs with 60 pairs, compared to 27 offered by CFI Markets. Also, if you’re looking to trade cryptocurrencies,

Both CFI Markets and FP Markets allow you to trade commodities like gold, silver and crude oil.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both CFI Markets and FP Markets offer this. Our alternative broker, XTB, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. CFI Markets, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

CFI Markets does allow scalping and hedging. While FP Markets also allows scalping and hedging. You can trade with EAs (expert advisors) on both CFI Markets and FP Markets.

In terms of risk management tools, neither CFI Markets or FP Markets offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

CFI Markets also offer stop losses and limit orders to help you automate aspects of your trading strategy.

CFI Markets accept Paypal while FP Markets accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, CFI Markets charges points, while FP Markets charges 0.70 points. Therefore, CFI Markets is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: CFI Markets or FP Markets?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, FP Markets is more reliable based on our criteria above. CFI Markets has a wider range of instruments to trade. FP Markets offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.