StoneX Trading CFD Account Customer Reviews & Expert Rating

StoneX Trading is essentially the new home of City Index, which has always been one of my favourite CFD brokers, particularly for more active and experienced traders.

What I like about StoneX Trading is that it sits somewhere between the newer app-only CFD brokers and the more complicated professional trading platforms. The main Web Trader platform is very easy to use, but there is still plenty going on underneath, with decent charting, trading signals, Performance Analytics and market research.

You also get a good choice of ways to trade. There is the main StoneX Trading web platform and app, TradingView integration and MT4 for traders who want something more technical.

One of the things I have always liked about City Index, and which remains important under StoneX Trading, is that it feels like a proper trading broker rather than just an app. That's particularly relevant if you are trading larger positions and want access to decent research and trading tools rather than simply a big buy and sell button.

The main downside is that StoneX Trading is an OTC CFD broker rather than a DMA broker, so if you want to work orders directly into an exchange order book there are better options. But for the majority of retail CFD traders, StoneX Trading offers a very good combination of competitive pricing, decent market coverage, good platforms and useful analysis tools.

Overall, StoneX Trading is a good choice for active CFD traders who want more trading tools and market analysis than you tend to get from the cheaper app-based brokers.

Pricing

StoneX Trading’s CFD pricing is competitive, although what you pay depends on what you trade.

Forex spreads start from 0.2 pips with no commission, while index spreads start from 0.3 points and commodities from 0.05 points. Share CFDs are priced differently, with US shares charged from 1.8 cents per share and UK shares from 0.08%. StoneX Trading only charges a separate commission on share CFDs; other CFD markets are traded through the spread.

As with other CFD brokers, you also need to consider overnight financing if you keep leveraged positions open overnight. This can become a significant part of your trading costs if you hold CFD positions for longer periods rather than using them for short-term trading.

One feature I particularly like is extended-hours trading. You can trade some leading US shares and indices before and after the main market session. The spreads can naturally be wider when the underlying market is closed, but it is useful if, for example, Tesla or Nvidia reports after the closing bell and you want to trade the initial reaction rather than waiting until the following day.

Market Access

StoneX Trading gives you access to more than 5,000 CFD markets from a single account. These include global stock indices, individual shares, forex pairs, commodities and a range of other markets.

That is more than enough market coverage for most CFD traders and means you can use one account for trading everything from the FTSE and Wall Street to individual US shares, currencies and commodities.

StoneX Trading also offers extended-hours trading on leading US shares and indices, which is becoming increasingly important as more market-moving company announcements take place outside normal US market hours.

It is worth pointing out that StoneX Trading operates as an OTC CFD broker rather than offering DMA CFDs. So you are trading against StoneX Trading's CFD prices rather than placing your order directly onto an exchange order book. For most retail traders that isn't really an issue, but more sophisticated equity traders who specifically want DMA may prefer a broker that provides it.

Platform & Apps

StoneX Trading gives you a good choice of platforms depending on how you trade.

The main Web Trader platform runs in your browser and has customisable workspaces and Performance Analytics. There is also the StoneX Trading mobile app, which is useful if you want to monitor positions and trade when you are away from your desk.

You can also connect to TradingView and trade directly from TradingView charts, which is a particularly good option if you already use TradingView for technical analysis. More technical traders can use MetaTrader 4, although MT4 access is focused on forex, commodities and indices.

Personally, I think the main StoneX Trading platform will be the best option for most CFD traders. It strikes a good balance between having plenty of functionality without making the platform unnecessarily complicated.

One of the more useful features is Performance Analytics. It looks at how you actually trade rather than just what the market is doing. You can analyse your trading behaviour and identify where you perform well, where you make mistakes and whether you are actually sticking to your trading plan.

Customer Service

Customer service has traditionally been one of the areas that differentiated City Index from many of the newer CFD trading apps.

There is a big difference between having a problem with a trading account and being able to speak to somebody who understands trading, versus going backwards and forwards with an automated chatbot.

StoneX Trading provides online support and chat alongside its trading platforms, and the business retains the feel of an established trading broker rather than a fintech app.

That is particularly important for larger and more active traders. If you are trading meaningful amounts of money, customer service becomes much more important than saving a fraction of a point on the spread.

Research & Analysis

Research and analysis is one of StoneX Trading's stronger areas.

You get access to market coverage from StoneX's global analysts, as well as StoneX TV and Market Intelligence. That is particularly interesting following the move from City Index to StoneX Trading because the StoneX Group has a much broader institutional presence in the financial markets.

There is also Performance Analytics, which I think is one of the more useful tools because it focuses on your own trading rather than just throwing more market commentary at you. It analyses your trading patterns so you can see when, where and how you tend to trade well or badly.

That may sound a little gimmicky, but one of the biggest problems CFD traders have is not finding trading ideas; it is sticking to a strategy and avoiding the same mistakes. Having something that analyses your actual behaviour can therefore be considerably more useful than another technical indicator.

Combined with the charting and analysis available through TradingView and MT4, StoneX Trading offers a good research package for traders who actually want to spend some time analysing markets rather than simply following prices on an app.