HERE IS A LIST OF FOREX AND CFD BROKERS THAT SUPPORT DOW TRADING
Best US30 Brokers
The US30 index is one of the most popular trading instruments among traders in the world. It is also known as the Dow Jones Industrial Average and represents the performance of 30 blue-chip companies in the US. This index allows investors to greatly diversify their portfolios by speculating on the movement of various companies. While trading the US30 can be an exciting and potentially lucrative endeavour, selecting the right broker is crucial for success. In this review, we will look at some of the best US30 brokers. But before we do that, let’s have a little more understanding of what this index is all about.
Understanding the US30 Index
The US30 is a price-weighted index that tracks the performance of 30 of the largest companies listed on the New York Stock Exchange and the Nasdaq. It being price-weighted means that the companies with higher stock prices have more influence on its movement. The companies contained within this index are from various sectors including technology, finance, healthcare, and consumer goods. Examples of companies in the US30 are Apple, Microsoft, Goldman Sachs, and Johnson & Johnson. For this reason, the US30 is one of the best assets to diversify one’s portfolio as it contains a plethora of individual companies.
Notably, the US30 index is also known as the Dow Jones Industrial Average or the Wall Street index. Different brokers may list it under these different names depending on what they prefer. For most traders, this index acts as a barometer of the broader market sentiment. Traders use its movement to gain insights into economic trends and potential price movements in a sector. This is why this index is very popular among traders. Nonetheless, selecting the right broker is crucial for the successful trading of the US30 index. Let’s have a look at our selections for some of the best US30 brokers.
Please note that the respective spreads can change over time. For the most up-to-date information visit the broker of your choice and see their pricing.
Best US30 Brokers
Exness
Exness is one of the biggest brokers that offers traders access to the US30 index. This broker allows its traders to access the US30 CFD index between Sunday 23:05:00 to Friday 20:59:00. The spreads involved when trading this index on the Exness broker site depend on the account that a trader chooses to use. There are four different accounts that traders can use to trade this index.
The standard account on Exness allows traders to access the US30 index with average spreads from as low as 7.5 pips. On the other hand, the raw spread account offers this index with average spreads that start from as low as 2.5 pips plus a commission of $1 per side per lot. In contrast, the zero account offers average spreads from 0.5 pips on the US30 index plus a commission of $2 per side per lot. Finally, the pro account supports an average spread from as low as 4.7 pips with no commission paid.
Aside from this index, Exness offers traders a plethora of other trading instruments to trade. In total, there are over 250 different market products available to traders. These include CFDs on forex, indices, commodities, stocks, and cryptocurrencies. This allows traders to invest in more than one market under the same trading account. Moreover, the trading platforms available are market-standard and include MT4, MT5, Exness Terminal, and Exness Trade App.
On regulations, this broker is in good standing. The broker operates under the regulation and supervision of the FSCA in South Africa, the CMA in Kenya, the FCA in the UK, and the CySEC in Cyprus, among others.
Pepperstone
Pepperstone supports trading of the US30 index 24 hours a day, Monday through Friday. Investors can trade this index alongside a plethora of other CFDs. Better yet, the spreads on this index are fairly low starting from 2.0 pips. To trade on this broker site, traders have access to five different platforms. These include MetaTrader 4, MetaTrader 5, cTrader, TradingView, and Pepperstone Trading Platform.
Other than the US30 index, traders also have access to CFDs on forex, shares, currency indices, ETFs, commodities, and other indices. This means that traders can trade US30 and diversify their accounts with other assets on the same broker site.
On another positive note, Pepperstone is a regulated broker in the market. It operates under the regulation of the CMA in Kenya, the FCA in the UK, the ASIC in Australia, and the DFSA in the DIFC, among other regulators. Evidently, Pepperstone is one of the most heavily regulated brokers that avails the US30 index.
FP Markets
FP Markets is another global broker that allows investors to trade the US30 index thru CFDs. On this broker site, this asset is available to trade between 01:00 to 24:00 from Monday to Friday. The spreads involved when trading this index are favourably low averaging from 1.1 pips. That’s not all. This broker also allows its traders to access a plethora of other index CFDs and other assets to diversify their portfolios.
There are over 10,000 different market products available to traders on the FP Markets broker site. These include forex currency pairs alongside CFDs on shares, bonds, ETFs, metals, commodities, and cryptocurrencies. The trading platforms available to traders include MetaTrader 4, MetaTrader 5, cTrader, Iress, and TradingView.
Finally, let’s see how this broker’s activities are regulated in the market. Well, FP Markets operates under the close supervision of the FSCA in South Africa, the FSA in St Vincent and the Grenadines, the ASIC in Australia, and the CySEC in Cyprus. Needless to say, regulations alone are never enough. However, a broker with such regulations and a clean track record is more likely to deliver quality services.
XM
XM is another popular forex broker that supports the trading of the Dow Jones Industrial Average Index. On this broker site, this asset is available to trade as both a cash CFD and a future CFD. The ticker for the cash CFD is US30 CASH while the future CFD is simply under the ticker, US30. Interestingly, these two assets have different spreads with the cash CFD featuring spreads from as low as 2.75 pips. In contrast, the future CFD has spreads that start from 6.0 pips in the quote currency. They are both available to trade between 01:05 and 23:55 (GMT +2) Mondays to Fridays.
Expectedly, this broker also features a plethora of other assets. It gives its traders access to CFDs on forex, energies, commodities, stocks, and other indices. The trading platforms available to use include MT4, MT5, and WebTrader. Finally, XM is regulated by the FSC in Belize, the FCA in the UK, and the ASIC in Australia.
Forex.com
Next up is Forex.com. This broker lists the US30 index under the name Wall Street. It avails this CFD index for trading from 10:00 pm UTC Sunday to 9:15 pm UTC Friday. The spreads for trading this index are floating and competitively low. At the time of writing this, the spreads were as low as 3.5 pips with no commission charged.
Like the other brokers on this list, Forex.com also gives its traders access to a diverse range of market products. In total, investors in South Africa gain access to over 5,500 different market products. These include CFDs on forex, indices, stocks, commodities, precious metals, and cryptocurrencies. Traders can use various trading platforms to place orders in these markets including MetaTrader 4, MetaTrader 5, TradingView, and Forex.com Trader. These are some of the fastest trading platforms in the market today.
As usual, we have to check how a broker is regulated. Fortunately, Forex.com operates under the regulation and examination of FCA in the UK, the CFTC and the NFA in the USA, the CySEC in Cyprus, the ASIC in Australia, and the CIRO in Canada. While not regulated in South Africa, this broker’s regulatory status is impressive, to say the least.
XTB
XTB gives its traders access to the US30 index through its proprietary trading platform, xStation 5. Here, traders trade this CFD index with competitively low spreads that start from as low as 2.0 pips. The trading hours for the US30 index on XTB are typically from 00:05 to 23:15 (GMT) on weekdays. Better yet, traders can diversify their accounts using other indices or assets from other global markets.
XTB allows its traders to speculate on over 2,200 different market products. These include CFDs on forex, indices, commodities, stocks, ETFs, and cryptocurrencies. Regulatory compliance is another positive feature of XTB. This broker operates under the regulation of the FSC in Belize, the FCA in the UK, and the KNF in Poland, among others.
FXGT
Finally, we will close our list of some of the best US30 brokers with FXGT. This broker allows investors to trade the US30 index from Mondays at 01:05 to Fridays at 01:05-24:00 GMT+3. Notably, the spreads involved when trading this CFD index on FXGT are favourably low and depend on the account a trader is on.
Traders on the Standard+ account enjoy spreads from as low as 25.3 pips while traders on the Mini account trade with spreads as low as 30.8 pips with no commission on the two accounts. However, they can go lower on the Pro account starting from 14.7 pips with no commission involved. Further, they can go even lower on the ECN account from 8.8 pips with a commission of $3.
There are only two trading platforms available for traders to use which include MetaTrader 4 and MetaTrader 5. These trading platforms give traders access to a plethora of market products. Specifically, investors can trade CFDs on forex, equity indices, stocks, cryptocurrencies, synthetic cryptocurrencies, energies, and precious metals.
To close out, let’s look at how this broker’s activities are regulated. FXGT holds regulatory licenses from the FSCA in South Africa, the FSA in Seychelles, and the VFSC in Vanuatu.
How to Choose A US30 Broker
Before selecting a broker to trade the US30 index with, you should first have a solid understanding of your needs. This will help you find the best broker to suit your individual preferences. Generally, you should prioritise three key things:
Trading the US30 index can be a highly rewarding endeavour. Selecting the right US30 broker is a crucial step towards achieving your trading goals. For South African traders, there are several options available to trade the US30 with. In this review, we only looked at a few of such companies that stand out. We checked their regulations, trading platforms, spreads involved, and other assets available. However, this is not meant to be a conclusive list. As such, each trader should assess their own needs to select the broker that best suits them, whether they are on this list or not.