AuthorBy Jeffrey Cammack
Updated: March 6, 2021

We have compared leading brokers’ platform selection, giving preference to the brokers with the widest platform offering. While every Forex broker will provide clients with at least one trading platform, we appreciate brokers who offer a larger selection that can include MT4, MT5, cTrader or a cutting-edge proprietary platform with features that extend the trading experience beyond the usual.

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Forex brokers with the best trading platform options

Last updated on 6 Mar 2021
Updated 6 Mar 2021
by Editorial Director Jeffrey Cammackby Jeffrey Cammack
Jeffrey Cammack
All Brokers Regulated
All Brokers Regulated
by Trusted Authoritiesby Trusted Authorities
Trusted
1
Pepperstone
Min. Deposit
USD 200
4.514.51
Min. Spread
0 pips
Trading Platforms
Trading Desk Type
Overall Rating
11110.54.51/ 5
AlertAccepts UK Clients. Average spread EUR/USD 0.09 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, and the DFSA. 79.3% of traders lose money with this provider.
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Founded in 2010, Pepperstone is an Australian ECN broker known for tight spreads, ultra-fast trade execution and broad platform support. Pepperstone’s award-winning, 24-hour support provides the foundation for its excellent customer service, where personalised assistance is available via several methods.

As our highest rated pure ECN broker, if you want to pay a small commission for tighter spreads, you won’t find a better broker than Pepperstone.

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
Cons
  • High minimum deposit
  • Limited market analysis
Read More About Pepperstone
2
IG Markets
Min. Deposit
USD 250
4.694.69
Min. Spread
0.60 pips
Trading Platforms
Trading Desk Type
Overall Rating
11110.54.69/ 5
AlertAccepts UK Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, ProRealTime and L2 Dealer platforms supported. IG Markets Group is regulated by FCA, ASIC, and the FSCA. 75% of traders lose money with this provider.
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One of our highest rated brokers, IG Markets is a market-maker with only the single account for Forex trading, but spreads are tight and educational and analytical materials are excellent. A wide choice of platform (including MT4) is also available and customer service is world-class.

With regulation from the FCA and ASIC, and winner of the Broker of the Year 2018 (UK Forex Awards) and Best CFD Provider 2017 (Investment and Wealth Management Awards), IG Markets is an attractive choice for both beginner and experienced traders.

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Excellent education
  • Excellent market analysis
Cons
  • High minimum deposit
Read More About IG Markets
3
XM
Min. Deposit
USD 5
4.384.38
Min. Spread
0.60 pips
Trading Platforms
Trading Desk Type
Overall Rating
11110.54.38/ 5
AlertAccepts UK Clients. Average spread EUR/USD 1.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the IFSC. 77.19% of traders lose money with this provider.
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XM Group has achieved substantial growth since opening in 2009, earning 1.5 million clients in 196 countries. XM’s operational philosophy is aimed at client satisfaction and low client turnover; they earn client loyalty through award-winning 24/5 personal customer service, varied account types and competitive trading conditions.

Regulated the FCA, CySEC and ASIC and the recipient of many industry awards, XM Group stands out from a crowded field of market maker brokers for their customer service and educational support.

Pros
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
Cons
  • Dealing desk
Read More About XM
4
FxPro
Min. Deposit
USD 100
4.214.21
Min. Spread
0.60 pips
Trading Platforms
Trading Desk Type
Overall Rating
11110.54.21/ 5
AlertAccepts UK Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5, cTrader and FxPro proprietary trading platform supported. FxPro Group is regulated by FCA, CySEC, FSCA, and the DFSA. 77% of traders lose money with this provider.
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FxPro is one of the most respected Forex brokers in the industry. Regulated by the FCA and CySEC and with over 870,000 client accounts in 173 countries, FxPro is a truly global powerhouse.

FxPro offers a no dealing desk execution model on MT4, MT5, cTrader and a browser-based platform. A reasonable 100 USD opening deposit and outstanding customer service are combined with competitive spreads – often as low as 0.6 pips – to match profitability with security.

Pros
  • Well regulated
  • Great platform choice
  • Tight spreads
Cons
  • Limited education
Read More About FxPro
5
AvaTrade
Min. Deposit
USD 100
4.184.18
Min. Spread
0.90 pips
Trading Platforms
Trading Desk Type
Overall Rating
11110.54.18/ 5
AlertAccepts UK Clients. Average spread EUR/USD 0.9 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA. 72% of traders lose money with this provider.
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Good value, beginner-friendly and hugely respected in the UK, AvaTrade is one of the most reputable brokers in the industry. With support for the leading trading platforms and top-quality multilingual support, AvaTrade has built a brand on a solid reputation and continues to add to that reputation with the recent addition of AvaProtect – an automated loss-protection tool – to its product lineup.

AvaTrade offers UK clients trading in Forex, commodities, cryptocurrencies, exchange-traded funds, options, bonds, and equities and is a good choice for any type of forex trader ranging from beginners to scalpers and intraday traders to long-term traders.

Pros
  • Good for beginners
  • Well regulated
  • Low minimum deposit
Cons
  • Dealing desk
  • Limited education
Read More About AvaTrade
6
IC Markets
Min. Deposit
USD 200
4.464.46
Min. Spread
0.10 pips
Trading Platforms
Trading Desk Type
Overall Rating
11110.54.46/ 5
AlertAccepts UK Clients. Average spread EUR/USD 0.00 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. IC Markets is regulated by CySEC and ASIC.
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IC Markets presents itself as the best and largest true ECN broker. It is ASIC and CySEC regulated and offers the MetaTrader4, MetaTrader5 and cTrader platforms. IC Markets is highly recommended to both new and experienced traders looking for faster execution and tighter spreads.

Beginner traders will find the IC Markets account structure welcoming and simple to understand. IC Markets understands customer retention involves a combination of tighter spreads, cutting edge technology, fast trade execution and top quality customer service.

Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Great platform choice
Cons
  • High minimum deposit
  • Limited market analysis
Read More About IC Markets
7
MarketsX
Min. Deposit
USD 250
4.394.39
Min. Spread
0.60 pips
Trading Platforms
Trading Desk Type
Overall Rating
11110.54.39/ 5
AlertAccepts UK Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. MarketsX is regulated by CySEC, ASIC, and the FSCA. 74.93% of traders lose money with this provider.
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Marketsx is a premium trading platform. It’s operated by Markets.com and offers traders fast, low-cost trading on over 2,200 financial instruments. Marketsx provides CFD trading on global stock, forex, commodity, indices, cryptocurrency, ETF and bond markets. Clients in the UK can also use spread bets on applicable instruments.

The proprietary Marketx trading platform is packed full of features and trading tools and is optimised for lightning execution. As well as in-depth charting and asset comparison tools, Marketsx also gives traders a wealth of decision-supporting data with sentiment tools, tutorials, and regular live-streamed, expert analysis.

Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Fast and free withdrawals
Cons
  • High minimum deposit
Read More About MarketsX
8
FP Markets
Min. Deposit
USD 100
4.174.17
Min. Spread
0 pips
Trading Platforms
Trading Desk Type
Overall Rating
11110.54.17/ 5
AlertAccepts UK Clients. Average spread EUR/USD 0.10 pips with 6 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & IRESS platforms supported. FP Markets is regulated by CySEC and ASIC.
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FP Markets is an ASIC-regulated, STP broker with simple account options and an exciting set of tools for traders with higher minimum deposits. Spreads are tight, even on the Standard Account, and the lack of dealing desk intervention for all accounts removes any concern over conflict of interest.

Both the MT4 and MT5 platforms are supported and trader education and market analysis are well-presented, structured and useful. Overall, FP Markets is an excellent choice for beginner and more experienced traders alike.

Pros
  • Well regulated
  • Tight spreads
  • Good range of accounts
  • Great customer support
Cons
  • Expensive withdrawals
Read More About FP Markets
9
Fibo Group
Min. Deposit
USD 5
4.004.00
Min. Spread
0.20 pips
Trading Platforms
Trading Desk Type
Overall Rating
11110.54.00/ 5
AlertAccepts UK clients. Average spread EUR/USD 0.30 pips with 6 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT4, MT5 & cTrader platforms supported. FIBO Group is regulated by CySEC and BVI FSC.
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Founded in 1998, FIBO Group is a CySEC-regulated, NDD broker with 6 different account types and full support for MT4, MT5 and cTrader. Beginners will like the MT4 Cent Account with its tight spreads and tiny minimum deposit while professional traders will be tempted by the MT5 and cTrader accounts, which feature some of the best trading conditions available. Commissions are competitive with other NDD brokers and the minimum deposit on most accounts is only 50 USD.

On the downside, education and market analysis are basic, FSC BVI and CySEC regulation are the bare minima of what is considered acceptable by way of oversight, and withdrawals are slow and expensive. 

Pros
  • Great platform choice
  • Low minimum deposit
Cons
  • Limited education
Read More About Fibo Group
10
CMC Markets
Min. Deposit
USD 5
4.694.69
Min. Spread
0.70 pips
Trading Platforms
Trading Desk Type
Overall Rating
11110.54.69/ 5
AlertAccepts UK Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & CMC Proprietary platforms supported. CMC Markets is regulated by the ASIC, FCA, MAS and the FMA. 76% of traders lose money with this provider.
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CMC Markets is a British CFD broker with regulation from ASIC, the FCA, MAS and the FMA – making it is one of the world’s best-regulated brokers. Clients at CMC Markets can trade on Forex, indices, shares, commodities, treasuries, cryptocurrencies, and share baskets. The single trading account has a 5 USD minimum deposit and offers commission-free trading on 330 Forex pairs, one of the largest sets of Forex pairs in the industry.

CMC Market’s offers spreads as low as 0.70 pips pips on the EUR/USD, much lower than most other commission-free brokers. Traders will appreciate these low trading costs, advanced order management tools, and CMC Markets’ powerful and innovative platform, but beginners may be disappointed by the limited educational material.

Pros
  • Well regulated
  • Tight spreads
  • Good for beginners
  • Excellent education
  • Excellent market analysis
Cons
  • No swap-free account option
Read More About CMC Markets

Popular Platforms

Beginner traders often want to know which is the best Forex trading platform. Some of our experts believe that MetaTrader 4 (MT4) is the best platform because it is supported by so many Forex brokers. Others argue that MetaTrader 5 (MT5) is better, as it is the newer platform and has more modern features. A few prefer cTrader for its security features and intuitive layout.

Alongside MT4, MT5 and cTrader some Forex brokers will also have their own platforms. These are usually web-based and are better suited to beginner traders. They tend to have a simplified interface and fewer customisation options, which many new traders find easier to manage.

A Forex trading platform is the software used to make trades on the Forex market. Trading platforms need to be connected to a Forex broker to access the Forex market. But trading platforms are more than simple trading applications. Most trading platforms will also have charting tools, research tools, and options for automated trading or copy trading.

The best Forex trading platform for you will depend on your priorities and trading experience. We believe that the best brokers will offer a range of Forex trading platforms, so traders can find the right one to suit their needs. We also believe that a Forex broker needs to do more than just offer a platform, they also need to provide excellent technical support and trading education.

MetaTrader 4

The most single popular trading platform worldwide, MetaTrader 4 (MT4), is either a free download from MetaQuotes or from supporting brokers.

MT4 is considered the Forex trading industry standard due to its popularity, broker adoption, security, and customisability. As MT4 is so popular, there are thousands of reviews, guides and documentation that will provide an overview of the software and help get you started, including our own MT4 guide.  Most MT4 brokers offer assistance with setting up the software and will offer platform-specific technical support should you need it.

These are the top 10 MT4 brokers available in the UK. The list is ordered by the broker’s Overall Rating.

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Overall Rating
Official Site
Regulators
Min. Deposit
Cost of Trading
Withdrawal Fee
No. of FX Pairs
Compare
Official Site
4.69 /5
Read Review
Visit Broker >
Your capital is at risk
USD 5
USD 7
Fees Included in Spread
330
Visit Broker >
Your capital is at risk
4.69 /5
Read Review
Visit Broker >
Your capital is at risk
USD 250
USD 6
Fees Included in Spread
93
Visit Broker >
Your capital is at risk
4.51 /5
Read Review
Visit Broker >
Your capital is at risk
USD 200
USD 7.90
From 7 USD / lot - Razor Account
80+
Visit Broker >
Your capital is at risk
4.49 /5
Read Review
Visit Broker >
Your capital is at risk
USD 100
USD 8
Fees Included in Spread
80+
Visit Broker >
Your capital is at risk
4.49 /5
Read Review
Visit Broker >
Your capital is at risk
USD 5
USD 10
6 USD / lot - Zero Account
51
Visit Broker >
Your capital is at risk
4.48 /5
Read Review
Visit Broker >
Your capital is at risk
ZAR 1000
USD 6
Fees Included in Spread
32
Visit Broker >
Your capital is at risk
4.46 /5
Read Review
Visit Broker >
Your capital is at risk
USD 200
USD 7
7 USD / lot - True ECN account
60
Visit Broker >
Your capital is at risk
4.39 /5
Read Review
Visit Broker >
Your capital is at risk
USD 250
USD 6
Fees Included in Spread
50+
Visit Broker >
Your capital is at risk
4.38 /5
Read Review
Visit Broker >
Your capital is at risk
USD 5
USD 16
7 USD / lot - XM Zero Account
57
Visit Broker >
Your capital is at risk
4.34 /5
Read Review
Visit Broker >
Your capital is at risk
USD 5
USD 12
7 USD / lot - PRO account
80+
Visit Broker >
Your capital is at risk

For more information on MT4, and MT4 brokers visit our separate MT4 Forex brokers page.

MetaTrader 5

The primary difference between MetaTrader 4 and MetaTrader 5 (MT5) is that MT4 is predominantly an FX platform, while MT5 is a multi-asset trading solution. This means that MT5 offers not only Forex but also trading in stocks, stock indices and precious metals. MT5 presents news feeds within the platform and trades can be made on a chart. Though not offered by all brokers, it is becoming more common.

Here is our list reputable brokers offering MT5. The list is ordered by overall score, giving preference to the best overall brokers.

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Overall Rating
Official Site
Regulators
Min. Deposit
Cost of Trading
Withdrawal Fee
No. of FX Pairs
Compare
Official Site
4.51 /5
Read Review
Visit Broker >
Your capital is at risk
USD 200
USD 7.90
From 7 USD / lot - Razor Account
80+
Visit Broker >
Your capital is at risk
4.49 /5
Read Review
Visit Broker >
Your capital is at risk
USD 100
USD 8
Fees Included in Spread
80+
Visit Broker >
Your capital is at risk
4.49 /5
Read Review
Visit Broker >
Your capital is at risk
USD 5
USD 10
6 USD / lot - Zero Account
51
Visit Broker >
Your capital is at risk
4.46 /5
Read Review
Visit Broker >
Your capital is at risk
USD 200
USD 7
7 USD / lot - True ECN account
60
Visit Broker >
Your capital is at risk
4.39 /5
Read Review
Visit Broker >
Your capital is at risk
USD 250
USD 6
Fees Included in Spread
50+
Visit Broker >
Your capital is at risk
4.38 /5
Read Review
Visit Broker >
Your capital is at risk
USD 5
USD 16
7 USD / lot - XM Zero Account
57
Visit Broker >
Your capital is at risk
4.32 /5
Read Review
Visit Broker >
Your capital is at risk
USD 100
USD 16
Fees Included in Spread
50+
Visit Broker >
Your capital is at risk
4.32 /5
Read Review
Visit Broker >
Your capital is at risk
USD 1
USD 7
Fees Included in Spread
120
Visit Broker >
Your capital is at risk
4.25 /5
Read Review
Visit Broker >
Your capital is at risk
USD 5
USD 7
6 USD / Lot
80+
Visit Broker >
Your capital is at risk
4.24 /5
Read Review
Visit Broker >
Your capital is at risk
USD 100
USD 5
6 USD / lot - Prime Account
40+
Visit Broker >
Your capital is at risk

MT4/5 OS Support

MT4 is only natively available for Windows but with some tweaking, can run on MacOS. MT5 is available for Windows, Mac and Linux. Apps for both versions are available on iPhone and iPad and Android devices.

MT4/5 Commission and fees

MetaTrader does not charge commissions for opening and closing positions, but most brokers will charge you for executing trades. Costs of trading will vary between brokers, currency pairs, volumes traded, and depending on market fluctuations.

MT4 & MT5 WebTrader

Webtrader is the browser version of MetaTrader and has a more intuitive interface than the downloadable client. Beginners find that it is easier to navigate and make trades and, as you can export your trade history to Excel, you can survey past trades for mistakes or trends and track your improvement. This export and analyse process is perfect for new traders who want to learn as quickly as possible. WebTrader has an incredibly clear layout, making it easy to keep track of your trades.

WebTrader OS Support

As WebTrader is a browser-based version of the software, it requires no extra software or any particular operating system and syncronises with the download app on mobile phones.

WebTrader Commission and fees

Much like the download versions of MT4/5, WebTrader does not charge fees itself. Other fees vary according to the broker, spreads on different currency pairs, and commission fees.

cTrader

Like MT5, cTrader is a multi-asset trading platform, allowing traders to trade Forex as well as other CFDs. It also has excellent charting tools and an intuitive user interface. 

One of the best features of cTrader is the fully customizable layout. You can pick a chart-only layout or the default, which includes analysis and trading news. Even the charts are customizable, allowing you to display different charts side-by-side, or toggle between them. Much of cTrader appears and functions in a similar manner to MetaTrader 4, so it would be a smooth transition if you’re used to the latter.

If you tend to trade with a certain set of currencies, the platform also allows you to create a “favourites” window, allowing you to always have easy access to your most-traded currency pairs. Here you can immediately see quotes when you launch the application so that you can make trades quickly. Additionally, cTrader comes pre-packaged with over 30 technical indicators and objects, allowing even further customisation.

cTrader is best for intermediate and experienced traders – those accustomed to MetaTrader may find it more comfortable to use and the layout cleaner. cTrader is very popular, and you’ll find many useful reviews and tutorials online, including in the App Store and Google Play if you plan on using your mobile phone to trade.

Here is our list of the best cTrader brokers. The list is ordered by Overall Rating giving preference to the brokers that score best overall, followed by cost of trading – our calculation of the cost to trade 1 lot of EURUSD on the account with the lowest minimum deposit.

Scroll for more detailsPreviousNext
Overall Rating
Official Site
Regulators
Min. Deposit
Cost of Trading
Withdrawal Fee
No. of FX Pairs
Compare
Official Site
4.51 /5
Read Review
Visit Broker >
Your capital is at risk
USD 200
USD 7.90
From 7 USD / lot - Razor Account
80+
Visit Broker >
Your capital is at risk
4.46 /5
Read Review
Visit Broker >
Your capital is at risk
USD 200
USD 7
7 USD / lot - True ECN account
60
Visit Broker >
Your capital is at risk
4.21 /5
Read Review
Visit Broker >
Your capital is at risk
USD 100
USD 15
9 USD / lot - cTrader Account
70+
Visit Broker >
Your capital is at risk
4.14 /5
Read Review
Visit Broker >
Your capital is at risk
USD 5
USD 7.80
$5 per 1 lot
80
Visit Broker >
Your capital is at risk
4.00 /5
Read Review
Visit Broker >
Your capital is at risk
USD 5
USD 9
6 USD / lot - ECN Accounts
60+
Visit Broker >
Your capital is at risk
3.82 /5
Read Review
Visit Broker >
Your capital is at risk
EUR 100
USD 14
Fees Included in Spread
70
Visit Broker >
Your capital is at risk

Supported OS:

cTrader for desktop is available to download for Windows but is also available in your browser (Firefox, Chrome or Opera). Mobile apps are available for both Android and iOS.

Commission and fees:

Commissions depend on the currency values and size of each trade. FxPro has a handy calculator to help you convert currencies and calculate how much commission you’ll pay on specific trades.

eToro

eToro is a broker with a very distinct offering. The world leaders in social trading, eToro’s platform is a combination of a traditional solution crossed with a social network – similar in many ways to Facebook and Twitter. Though the actual software itself is simplistic in comparison to MT4/5 and cTrader, if you want to feel like you are part of a community and want to be updated constantly with feedback and ideas from other traders, then this is probably the choice for you.

Conclusion

There are many other niche trading platforms out there, especially for more advanced traders, but this article covers most of the popular choices. Whatever you choose, remember that is is only a tool to connect you with the market and your success or failure will depend entirely on your trading choices. That said, make sure that those choices are educated, cautious and decisive.

Forex Risk Disclaimer

Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. 

Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (Learn more from the FCA or from ASIC)

Our Methodology

Our State of the Market Report and Broker Directory are the result of extensive research on over 100 Forex brokers. The explicit goal of these resources is to help traders find the best Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.

With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal. 

In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from your perspective.

All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and by sifting through the fine print. Learn more about how we rank brokers

References

Featured Brokers

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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