There are many good CFD providers that can provide you with sophisticated user-friendly trading platforms however it is important to ensure that you choose the best CFD broker to suit your trading needs not just the broker with the best product range or best-looking trading platform.

Choosing a good provider can be difficult, and it is impossible to try them all. Of course, before opening a CFD trading account with any CFD broker, it is important to determine what type of CFDs you will be trading. Many novice traders often get caught up on product range thinking that they will be trading every CFD that their broker has to offer, whereas in reality they often find that they stick to share, index or forex CFDs. Once you have determined which products you want to trade it is then important to develop a trading plan as this will ultimately determine what you need from your CFD provider.

No two trading plans are the same as each trader adapts their plan to suit their risk profile and lifestyle. Some plans involve scalping others may involve short to medium term trend trading. Some CFD providers don't like dealing with scalpers but prefer short to medium term traders, this is something you will not find out from reading their website or glossy marketing brochures. Different trading plans also involve different order types, some require trailing stop-loss, stop-entry or guaranteed stop-loss orders. Many of these order types are not offered by all CFD brokers.