You can start a contract for difference (CFD) trade in US shares with any of the companies in this comparison. Here are a few tips to help you find the best trading account:
Compare the size of each spread: This is the amount a market needs to move for you to break even on a trade, any extra in your favour and you could make a profit.
Think about the margin: This is how much you need in your account before you can place you trade, and it represents the percentage of the total trade you make.
What markets are available?
You can use this comparison to compare the spread and margin offered by companies that let you trade on Wall Street and Nasdaq.
However, most of the companies above also let you trade on other stock exchanges, like the FTSE 100, but to find out which you need to visit their websites.
Do you need a US dollar account to trade?
No, each CFD company above lets you trade in pounds, and if there is a trade that requires a foreign currency, such as CFD forex, they will convert it for you.
For example, a CFD forex trade on the currency pair EUR/USD (euro and US dollar) converts your pounds to euros, then back to pounds if you make a profit.
Practice with a demo account
A demo account lets you make practice trades without using your own money.
When you open a demo account, check if you have all the tools and facilities you want in a CFD platform.
US share CFD trading FAQs
Do I need a USA bank account to trade CFDs in US shares?
No, you can trade on worldwide markets using a UK based account.
What is a CFD?
A contract for difference (CFD) lets you trade on financial markets without owning the underlying asset you trade with. Find out more here.
What is the spread?
It is the difference between the sell and buy price. The smaller the spread, the smaller the market movement needs to be before you make a profit.
What are points and pips?
Points are used to measure any market movement when CFD trading, with the exception of CFD forex, which uses pips. Find out more here.