Especially for long-term oriented investors, the constant fluctuations in the markets are a real nuisance. For short-term traders, on the other hand, this results in very good profit opportunities. The best way for traders to profit from fluctuating markets is with Contracts for Difference (CFDs). In the same way, the financial instruments known as contracts for difference provide thrills for gambler and day trader alike. Particularly large sums are moved when trading CFDs. The trading volume is therefore in the triple-digit million range, which is due in particular to the special construction of the securities. The selection of CFD brokers is correspondingly large, which makes the decision for a provider not always easy. Our large broker comparison, as well as the reviews of trade journals, can help. Among others, the magazine Euro has tested a large number of CFD brokers.
A good example from the past
In the following, you can see how meticulous the procedure and testing was, using an older test as an example. The magazine Euro am Sonntag, together with the German Customer Institute in Düsseldorf (DKI), subjected the most important CFD brokers to an intensive test. A total of 16 CFD houses were contacted, whereby the smaller providers were not considered in this test.
Customer service is particularly important
The good rating is mainly due to the good customer service. With 35 percent, this area was weighted the highest.
When evaluating customer service, the quality of advice provided via telephone and e-mail was assessed first and foremost. The competence and friendliness of the employees were particularly important. In addition, the information and training offered and the allocation of customer deposits were also included in the assessment. For their first-class customer service, six CFD brokers were rated "very good" at the time.
Another six brokers were rated "good" and three "satisfactory". None of the brokers tested attracted negative attention. The testers praised especially the numerous training offers, which the CFD brokers offer their customers. In hardly any other area is such an abundance of seminars, webinars and online videos offered as in CFD trading.
Occasional problems with communication
In return, they were able to convince with the competence of their service staff, just like their competitors. The large number of inquiries were answered absolutely correctly and in detail. However, there were some difficulties with communication here and there. Although all tested CFD brokers offer German-speaking support for their customers, they were connected to an English-speaking employee at some foreign brokers. Those who do not master the English technical terms in CFD trading with download exness should therefore turn to a broker with German headquarters if possible.
As far as the tools and charts provided are concerned, all CFD brokers knew how to convince. This also applies to the functional scope of the demo accounts offered. It was criticized that not all CFD brokers offer a price and indicator alert via email or SMS.
