A contract for difference (CFD) is a type of financial derivative and they are purely speculative instruments. The contract is an agreement to exchange the difference in price of an asset from when the position is opened to when it is closed.
These contracts are available on the majority of assets and are traded globally.
Most CFDs can be traded without commission fees. There is no ownership of the underlying asset when trading CFDs. This means there are no associated borrowing costs.
The spread that a CFD trader pays is typically larger than if you trade the underlying asset.