A trader who has spent several months following currency pairs may eventually take an interest in gold or the movement of a major stock index. The charts are easy enough to find. Most trading terminals will put them alongside EUR/USD or GBP/USD, and an order can be entered through much the same window.
The differences become apparent when the contract details are examined. A movement of ten points in an index CFD has a different monetary value from a ten-pip change in a currency pair. The trading session may close at another hour, and an overnight position can bring financing charges that were not part of the original calculation.
One also has to consider how the broker handles these markets. The number of available instruments is of some interest, but the platform, contract specifications and account conditions determine what can actually be traded.
The following six international CFD brokers offer different approaches to multi-asset trading. Their services and product availability vary by jurisdiction, a matter of particular importance for readers in India.
1. TMGM: Familiar Platforms for Several CFD Markets
TMGM provides access to forex and CFDs on shares, indices, precious metals, oil and cryptocurrencies, where these products are available under the relevant account and jurisdiction. MetaTrader 4, MetaTrader 5 and the TMGM App form the main trading environment.
Someone already using MetaTrader for currencies will recognise much of the software when looking at other instruments. Chart templates can be applied to different symbols, and the familiar order windows remain at hand. That does not mean that a strategy developed for EUR/USD can be transferred to gold without alteration.
Take position sizing. A trader accustomed to measuring exposure in currency lots will have to look at the contract size of a metal or index CFD. The minimum volume may differ, as may the monetary value of a price movement. Margin requirements need separate attention.
There are several things worth checking before adding another market to a TMGM account:
- The instrument specification. Contract size, minimum volume, and trading hours determine how the position can be opened and managed.
- The charges involved. A share CFD may have a different commission arrangement from a currency pair, and overnight financing can alter the cost of holding a position.
- The chosen terminal. MT4 and MT5 have different functions, and the instrument range need not be identical across platforms.
- The account’s legal entity. Available products, leverage and other conditions depend upon the jurisdiction and entity serving the client.
TMGM places considerable emphasis on its trading infrastructure and provides multilingual customer support around the clock. The latter can be useful when an account or platform question arises outside ordinary business hours, particularly for clients trading markets in different time zones.
As for the software, the reliance on MetaTrader will be familiar to many traders. It may be less appealing to someone who wants a proprietary web platform with extensive research functions built into the same interface.
TMGM operates through regulated entities in relevant jurisdictions. Such regulation does not establish authorisation in India or remove the financial risks of leveraged trading.
2. IG: A Broad Market Catalogue and Its Practical Limits
IG has a long history in online trading, and its proprietary platform brings together access to a substantial range of financial markets.
A broad catalogue can be useful to someone who follows economic developments across several asset classes. An interest-rate announcement may affect currencies and equity indices, while a change in energy supply expectations may attract attention to oil. Having the charts available through one environment makes it easier to examine those movements without repeatedly changing services.
But there is another side to a large instrument list. The trader must still understand the contract attached to each symbol.
An index CFD may be based on a cash market or a futures-related arrangement, with different pricing and financing implications. Shares introduce company-specific events, including dividends and corporate actions. Commodities have their own contract conventions.
IG’s proprietary software also raises a question of preference. A trader accustomed to MetaTrader may need time to become familiar with its charting, order controls and account functions.
Before selecting instruments from IG’s catalogue, one ought to establish which products are available through the relevant entity and what their individual terms provide. A market offered in one jurisdiction may be unavailable in another.
3. CMC Markets: The Details Behind an Index or Commodity Position
A stock index may appear to move smoothly on a chart, but the cost of trading its CFD is not necessarily limited to the difference between the quoted buying and selling prices.
The type of instrument, the trading session and the length of time a position remains open all have a bearing on the calculation.
CMC Markets provides forex and CFD trading through its proprietary platform environment, including access to multiple asset classes in eligible jurisdictions.
Its charting and market-analysis functions are among the areas worth examining, particularly for traders who spend time comparing price movements across instruments.
Consider a trader who has been following the FTSE 100 and decides to examine oil as well. The two instruments may both be available on the same platform, but their trading hours, price increments, and financing arrangements will not necessarily be alike.
For each contract, there are a few questions to settle:
- Is the quoted instrument based on a cash price or another pricing arrangement?
- What does a one-point movement mean for the position’s value?
- Which charges apply when the position remains open overnight?
- Are there trading breaks or periods of reduced liquidity?
- How does the broker treat relevant corporate or market events?
The answers matter more than the convenience of seeing the two charts next to each other.
CMC Markets is of interest to traders who want to examine several markets through a broker-developed trading environment, provided the relevant products are available to them.
4. Plus500: When a Simpler Interface Requires More Attention to the Contract
Plus500 has developed its own trading platform rather than making MetaTrader the centre of its service.
Its interface is designed around access to CFD instruments and the management of positions. For someone who does not use custom indicators or automated strategies, a proprietary environment may be sufficient.
A straightforward order screen, however, can make it tempting to move quickly from one market to another without examining the differences between them.
A share CFD is a useful illustration. A position may be affected by a company’s earnings announcement, a dividend adjustment, or a change in trading conditions around a corporate event. None of these considerations is quite the same as following a major currency pair.
Then there is the matter of overnight funding. A position opened with the intention of closing it that afternoon may be held for several sessions if the market fails to move as expected.
Plus500’s platform can be assessed through a few ordinary tasks: finding the contract information, checking the financing terms, reviewing available margin, and amending an open position.
The broker’s CFD offering and account features depend on the applicable entity and local restrictions. Traders should not assume that every instrument shown in international marketing material will be accessible to them.
5. OANDA: From Currency Analysis to Other Markets
OANDA is well known for its foreign exchange services, though its product offering extends to CFDs on other markets through certain entities.
For a trader whose principal activity remains forex, that may be a useful arrangement. There is no need to abandon the familiar currency-trading routine merely because an index or commodity has become worth following.
Yet the analytical habits developed in forex do not necessarily transfer without adjustment. A currency trader may be accustomed to watching central-bank announcements and economic releases. Someone trading an equity index has to consider company earnings, sector movements, and the market’s opening and closing sessions. Oil brings another set of influences, including inventory reports and developments in supply.
The software can provide charts and orders for each instrument. Understanding the market itself remains the trader’s responsibility.
OANDA offers proprietary trading technology and other platform arrangements depending upon the region and entity. Its suitability for multi-asset trading therefore has to be assessed against the actual account available to the client.
One should also look at how the broker presents instrument specifications. A familiar charting interface is useful, but the contract value and margin requirements determine the financial exposure of a position.
6. AvaTrade: Several Markets and Different Ways to Reach Them
AvaTrade offers forex and CFD products through MetaTrader and its own trading interfaces, with availability subject to the relevant jurisdiction.
The choice of platform becomes more interesting when the trader begins following instruments with different trading schedules.
A currency position may be monitored during the London and New York sessions. A share CFD may be tied to the hours of its underlying exchange. Some instruments have interruptions in trading, and prices can move considerably between one session and the next.
AvaTrade’s trading environment gives users different ways to access markets, although the tools and functions available through each platform should be checked individually.
There are practical differences between analysing a position on a desktop terminal and managing it from a phone. The smaller screen provides less room for charts, and a delayed notification may leave the trader reacting to a price that has already changed.
AvaTrade also offers educational material and additional trading tools. Their usefulness depends upon the trader’s needs, and any risk-management feature must be considered in light of its actual terms and limitations.
The broker is worth examining for those comparing MetaTrader with proprietary trading interfaces while seeking access to more than currencies.
Making Use of More Than One Market
It is quite possible to follow several asset classes without trading all of them. A currency trader may watch gold for additional market context, while an index trader may pay attention to oil prices without ever opening an oil CFD position.
TMGM provides a MetaTrader-centred environment for eligible traders seeking access to several CFD markets. IG and CMC Markets offer extensive proprietary trading environments, while Plus500 takes a different approach to its platform interface. OANDA remains relevant to currency-led activity, and AvaTrade provides a choice of trading interfaces under applicable arrangements.
The useful comparison is made at the level of the instruments a trader actually intends to use. Their contract terms, trading hours and costs deserve as much attention as the platform through which the orders are entered.
CFDs are leveraged products and can produce substantial losses. Access to additional markets does not reduce that risk, and trading across several instruments may introduce exposures that are not immediately apparent from their individual charts.