Skip to main content

Best CFD Trading Platforms in Australia

Toni Nasr, CFA, FRM| Updated May 16th, 2024

Contracts for Difference (CFD) trading has become increasingly popular among investors due to its flexibility, allowing traders to speculate on the price movements of various assets without owning them. However, with the variety of CFD brokers available in Australia, finding the best one that suits your needs can be challenging.

To help you make an informed decision, we have researched and compared the top CFD trading platforms in Australia based on important criteria such as spreads, range of markets, regulation, and trading platform features. 

It’s worth remembering that CFD trading is unlike other types of trading, as you don’t own a portion of the asset you’re trading. The profits and losses will fluctuate based on price movements, and it’s important to manage your risk carefully.

What Makes a Good Broker for CFD Trading in Australia?

When evaluating the top CFD trading platforms in Australia, it can be helpful to consider certain key factors. To make this process easier for you, we’ve compiled a list of important factors to keep in mind:

  • Reliable trading platform: A good CFD broker should offer a trading platform that is easy to use, stable, and fast. The platform should also have useful features such as charting tools, market news, and real-time data feeds to help you make informed trading decisions;
  • Competitive pricing: CFD trading fees can vary widely between brokers, so it’s important to choose a broker that offers competitive pricing. This includes low spreads, minimal or no commissions, and low overnight financing charges;
  • Wide range of markets: The best CFD brokers in Australia should offer a diverse range of markets to trade, including stocks, indices, commodities, Forex, and cryptocurrencies. This allows you to create a well-diversified trading portfolio and take advantage of different market conditions;
  • Excellent customer service: A good CFD broker should provide excellent customer service, with fast response times and helpful support staff available via phone, email, or live chat. This is especially important if you’re new to trading or encounter technical difficulties;
  • Regulated by ASIC: To ensure the safety of your funds, it’s important to choose a CFD broker that is regulated by the Australian Securities and Investments Commission (ASIC). This helps mitigate the risk of fraud, scams, and other unethical practices in the industry.

Here are our top picks for the best CFD trading platforms in Australia.

The Best CFD Brokers in Australia

Interactive Brokers | Best Overall

Interactive Brokers is one of the biggest brokers that provides access to CFDs across a variety of asset classes, including shares, indices, metals, and Forex. Their trading platform, the Trader Workstation (TWS), offers advanced technical indicators, fundamental trading tools, and excellent customization options, making it an excellent choice for both professional traders and beginners.

IG | Best for a wide range of CFD offering

IG is a well-known CFD IG is a popular CFD and Forex broker that offers a wide range of trading instruments, including over 18,000 markets. Additionally, they are known for their high quality research and educational resources.

CMC Markets | Best forex CFD broker

CMC Markets (CMC) is a leading global CFD broker that provides access to over 12,000 tradable products across a diverse range of asset classes, including Forex, Indices, Cryptocurrencies, Commodities, Stocks, and ETFs. It offers competitive spreads and margin rates on Forex CFDs.

Plus500 | Ideal for zero commission on CFD trading

Plus500 is another CFD broker that provides access to over 2,800 tradable CFDs, including Forex, Shares, Commodities, Indices, ETFs & Options. Their platform features competitive spreads and no commissions.
Disclaimer: 80% of retail CFD accounts lose money.

Let’s take a closer look at the key characteristics before delving thoroughly into each broker’s services.

Best CFD Brokers in Australia for 2024 compared

Broker IBKR IG CMC Markets Plus500
Nº of CFDs 6,300+ 18,000+ 12,000+ 2,800+
CFD asset classes available Shares, Indices, Metals and Forex Shares, Indices, Forex,, Commodities, and  Cryptocurrencies Shares, Indices, Forex,, Commodities, and  Cryptocurrencies Shares, Indices, Commodities, Forex, ETFs, Options, Cryptocurrencies
Maximum leverage 1:30 

(depends on account type and instrument)

1:30 1:30

(depends on asset class)

1:30 (for retail)
1:300 (for professional)
Minimum deposit AUD 0 AUD 0 for bank transfer,
AUD 100 for Cards and  Paypal deposits
AUD 10 for BPAY
AUD 0 AUD 200
Deposit method Bank transfer Bank transfer, credit/debit cards, PayPal and BPAY Bank transfer, credit/debit cards, PayPal Bank transfer, credit/debit cards, PayPa, Skrill,  BPAY, and other electronic wallets
Withdrawal fees 1 free withdrawal per month AUD 0 AUD 0 AUD 0

You can check below the spreads of those brokers on the most used currency pairs.

Spread comparison of the best CFD brokers in Australia

CFD IBKR IG CMC Markets Plus500
EUR/USD 0.1 pips 0.6 pips 0.7 pips Variable
GBP/USD 0.4 pips 0.9 pips 0.9 pips Variable
AUD/USD 0.2 pips 0.9 pips 0.7 pips Variable
Australia 200 CFD $1.3 $4 $1.0 Variable
US 500 CFD $0.23 $0.6 $0.5 Variable
Bitcoin CFD Not Available as CFD $84.0 $75.0 Variable
Tesla (TSLA) $0.02 $0.12 $0.03 Variable
Amazon (AMZN) $0.01 $0.21 $0.02 Variable
Gold (XAU/USD) $0.08 $0.3 $0.3 Variable
Silver (XAG/USD) $0.0095 $0.03 $0.25 Variable

Spreads are in pips (equal to 0.0001)

The spread in trading is the difference between the ask and bid prices on a particular instrument. Spreads are not fixed. They vary depending on the financial instrument traded, liquidity, and market events. Brokers can increase or widen the bid-ask spread, which would result in an investor paying more when buying and getting less when selling. Accordingly, it is a key factor in selecting the best CFD brokers.

Now, let’s take a closer look at each of our top picks for the best CFD trading platforms in Australia and what sets them apart from the rest.

1# Interactive Brokers

interactive brokers logo
Visit Interactive BrokersBest CFD Trading Platforms in Australia 1

Interactive Brokers at a glance

Number of CFD available for trading6,300+
CFD leverageup to 30x (depends on account type and currency pair)
Minimum Deposit$0
FeesSpreads starting 0.1 pip and tier pricing commission
RegulatorsASIC, IIROC, FINRA, SIPC, SEC, CFTC, FCA, CBI, AFSL, SFC, SEBI, MAS, MNB

Founded in 1978, Interactive Brokers is one of the largest international brokers and is listed on the NASDAQ exchange (Ticker: IBKR). They are regulated by many top-tier regulators, including the Australian Securities and Investments Commission (ASIC), making it a good choice for Australian traders. 

In addition to CFDs, Interactive Brokers offers great research tools and advanced trading platforms. For instance, their trading platform, TWS (desktop version), is one of the best trading platforms with advanced features and a high degree of customisation. In addition, they offer a well-designed web interface, IBKR GlobalTrader, and a mobile app.

Australian residents can trade CFDs issued by Interactive Brokers Australia PTY LTD (IBA) which includes:

  • IBA Share CFDs with approximately 6,200 Share CFDs covering the principal markets in the US, Europe and Asia,
  • IBA Index CFDs, which include the main US, European and Asian indices,
  • IBA Forex CFDs with 85 tradeable currency pairs,
  • IBA Metals CFDs which includes Gold and Silver.

IBA offers tight spreads on its CFD trades, but commissions are charged based on the type of CFD being traded and the volume. IBKR is known to provide one of the narrowest spreads on Forex where traders benefit from direct access to interbank quotes and real-time prices from 14 of the world’s largest FX dealing banks while being charged a tiered commission based on monthly trading volume. 

Share CFDs have low commissions starting at 0.05% and overnight financing charges starting at benchmark +/-1.5%, while commission rates for Index CFDs are only 0.0005% – 0.01% and overnight financing rates are just benchmark +/-1.5%. And in general, IBKR’s CFD margin requirements are generally more favorable than stock margin requirements.

Below is a table showing sample spreads on major CFDs across various asset classes.

Interactive Brokers spreads on major CFDs

CFD Spread
EUR/USD 0.1 pips
GBP/USD 0.4 pips
AUD/USD 0.2 pips
Australia 200 CFD $1.3
US 500 CFD $0.23
Tesla (TSLA) $0.02
Amazon (AMZN) $0.01
Gold (XAU/USD) $0.08
Silver (XAG/USD) $0.0095

1 pip equal to 0.0001

While using IBKR’s platform, you can view and trade multiple asset types from the same screen using a single integrated account. You can have several account base currencies at Interactive Brokers Australia, including AUD, USD, EUR, HKD and GBP, without a minimum amount required. Still, the only way to fund them is through a bank wire transfer. 

IBA provides its clients with leverage on CFDs, allowing them to increase their exposure to assets or indices with the same initial capital. However, you should be aware that leverage can magnify potential losses as well as gains. As for other fees, IBA does not charge any inactivity fees, and you are entitled to one free withdrawal per month.

Interactive Brokers trading features

Trading platforms IB Trader Workstation (TWS), Client Portal (Web-based platform), IBKR Mobile and IBKR GlobalTrader (another mobile app).
Limit orders Yes
Stop loss & take profit orders Yes
Negative Balance Protection Yes
Guaranteed stop loss No

2# IG

Best CFD Trading Platforms in Australia 2
Visit IGBest CFD Trading Platforms in Australia 1

75% of retail CFD accounts lose money.

IG at a glance

Number of CFD available for trading18,000+
CFD leverageup to 30x
Minimum DepositAUD 0 for bank transfer, AUD 100 for Cards and Paypal deposits, AUD 10 for BPAY
FeesDepends on asset class
RegulatorsASIC, FCA, NFA, MAS, FSCA, FINMA, FMA

IG Group, a London-based broker founded in 1974 and listed on the London Stock Exchange, is also included in our list of top CFD brokers in Australia. IG offers access to an extensive range of trading instruments, with over 18,000 CFDs spanning various asset classes and spreads starting at 0.6 pips. It is perfect for both beginners and professional traders. For instance, their free educational resources through its IG Academy help traders improve their understanding of financial markets and trading skills. Furthermore, IG’s news and analysis section provides professional insights to keep traders updated on market-moving events.

IG charges a spread or commission on trades, depending on the asset class. For example, spreads on major CFD currency pairs start at 0.6 pips, while on major indices, spreads start at 0.8 points and 0.1 points on commodities. As for share CFDs, commission fees start from AUD 7 or 0.08% for Australian-listed shares.

IG spreads on major CFDs

CFD Spread
EUR/USD 0.6 pips
GBP/USD 0.9 pips
AUD/USD 0.9 pips
Australia 200 CFD $4
US 500 CFD $0.6
Bitcoin CFD $84
Tesla (TSLA) $0.12
Amazon (AMZN) $0.21
Gold (XAU/USD) $0.3
Silver (XAG/USD) $0.03

1 pip equal to 0.0001

In addition to spread and commission fees, there may be other potential charges and factors that could influence how much your trading costs. These fees are only applicable when they apply to your trades, such as overnight financing charges or fees for guaranteed stops. IG has a very transparent fee structure, and you can check all the details and examples on its website, allowing you to calculate the cost of your trades accurately.

When trading with IG, you can choose from a variety of trading platforms. The IG trading platform is available on iOS and Android devices. It also offers a progressive web app, allowing traders to access their accounts from any device with internet access. For more advanced traders, IG offers ProRealTime and MetaTrader4, two platforms known for their advanced charting capabilities and customization options. For those looking to trade with Direct Market Access (DMA), IG offers L2 Dealer, a platform designed for professional traders that provide direct access to exchange order books and market depth.

IG trading features

Trading platforms IG web trading platform, IG mobile trading app, IG progressive web app (PWA), ProRealTime (PRT), MetaTrader 4 (MT4), L2 Dealer.
Limit orders Yes
Stop loss & take profit orders Yes
Negative Balance Protection Yes
Guaranteed stop loss Yes

Opening an account with IG is free of charge. However, you should note that there is a monthly account charge of AUD 18 if you haven’t used your account for two years or more. It’s important to keep this in mind to avoid any unexpected charges. The required minimum deposit depends on your funding method. For example, there is no minimum for a bank transfer, but there is an AUD 100 minimum for credit/debit card deposits and Paypal deposits, AUD 10 for BPAY.

3# CMC Markets

Best CFD Trading Platforms in Australia 4
Visit CMC MarketsBest CFD Trading Platforms in Australia 1

81% of retail CFD accounts lose money.

CMC Markets at a glance

Number of CFD available for trading12,000+
CFD Leverageup to 30x (depends on asset class)
Minimum Deposit$0
FeesDepends on asset class
RegulatorsASIC, FCA, BaFin, IIROC, FMA, MAS, DFSA

CMC Markets (CMC) is a global CFD broker that was established in 1989 and is listed on the London stock exchange. It currently serves more than 300,000 clients globally and gives access to over 12,000 CFDs, and offers one of the largest CFDs on Forex that includes 330+ currency pairs. It is regulated by many international top-tier regulators, including the Australian ASIC regulator.

At CMC Markets, the commission charged for CFD trading depends on the asset class. For example, there is no commission for Forex trading, but a spread and holding cost applies. On the other hand, CFD share trading is subject to a commission that is calculated based on the executed order. In addition, holding costs may apply to open CFD trading positions at the end of each trading day (5 pm New York time). These holding costs can be positive or negative, depending on whether the position is long or short. Here is a brief overview of the spreads applied on major CFDs.

CMC Markets spreads on major currencies

CFD Spread
EUR/USD  0.7
GBP/USD  0.9
AUD/USD  0.7
Australia 200 CFD $1.0
US 500 CFD $0.5
Bitcoin $75
Tesla (TSLA) $0.03
Amazon (AMZN) $0.02
Gold (XAU/USD) $0.3
Silver (XAG/USD) $0.25

1 pip equal to 0.0001

CMC Markets offer a 30:1 leverage on Forex, which means that you can open a position worth up to 30 times the amount of deposit you put down. However, the leverage varies according to the asset class and instrument. They offer a web platform and mobile app that support various languages. Alternatively, the widely-used MetaTrader 4 (MT4) platform is also available.

CMC Markets trading features

Trading platforms Next Generation web-platform, MetaTrader 4 (MT4), and CMC Markets mobile application
Limit orders Yes
Stop loss & take profit orders Yes
Negative Balance Protection Yes
Guaranteed stop loss Yes

It is an ideal broker if you want to reduce your fees, as it provides tight spreads and free deposits and withdrawals. Additionally, CMC Markets supports up to 10 account currencies, including AUD, and you can fund your account by credit or debit card, bank transfer, or PayPal. 

However, if your account has had no trading activity for 12 months, you will be charged a monthly inactivity fee of AUD 15 or equivalent. Lastly, you should note that monthly subscription charges may apply depending on the market data and the type of account held. Yet, these fees might be refunded according to the number of trades executed.

4# Plus500

Best CFD Trading Platforms in Australia 6
Visit Plus500Best CFD Trading Platforms in Australia 1

80% of retail CFD accounts lose money.

Plus500 at a glance

Number of CFD available for trading2,800+
CFD Leverage1:30 (for retail), 1:300 (for professional)
Minimum DepositAUD 100
FeesVariable
RegulatorsASIC, CySEC, FMA, MAS, SFSA, FSCA, FCA

Established in 2008, Plus500 is another broker included in our list of the best CFD brokers in Australia. It has developed its own user-friendly web trading platform and a mobile app that provides access to over 2,800 CFDs. It’s a great choice for those who want to keep their costs low, as it offers tight spreads and free deposits and withdrawals. Its services are mostly compensated through the “market spread,” which means that you won’t have to pay any commissions for your trades (overnight fees still apply).

Plus500 spreads on major currencies

CFD Spread
EUR/USD  Variable
GBP/USD  Variable
AUD/USD  Variable
Australia 200 CFD Variable
US 500 CFD Variable
Bitcoin Variable
Tesla (TSLA) Variable
Amazon (AMZN) Variable
Gold (XAU/USD) Variable
Silver (XAG/USD) Variable

Plus500 offers a wide range of indicators and drawing tools that assist you in analyzing trends and market movements. You can open an account online, and you can fund it by bank transfer, credit or debit cards, PayPal, or Skrill, and the minimum deposit is AUD 200.

Plus500 trading features

Trading platforms Plus500 Web Trader platform, Plus500 Mobile application.
Limit orders Yes
Stop loss & take profit orders Yes
Negative Balance Protection Yes
Guaranteed stop loss Yes

On the downside, Plus500 provides very few educational materials and research reports compared to other brokers. Additionally, if you don’t access your account for three consecutive months, a $10 (or equivalent, depending on your currency) monthly fee will be charged. This is a shorter timeframe than some other brokers, who typically impose this fee after one year of inactivity. 

You can read our Plus500 review for further details.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

This information is NOT relevant to EU residents who are to be serviced by EU subsidiaries of the Plus500 Group, such as Plus500CY Ltd, authorized by CySEC (Reg. 250/14). Different regulatory requirements apply in Europe, such as leverage limitations and bonus restrictions.

The bottom line

It can be a challenge to find the best CFD broker in Australia due to the variety of parameters that need to be considered. Comparing different trading conditions can be time-consuming and overwhelming. Our analysts have done the work for you and have presented their findings and analysis of the “Best CFD Brokers in Australia,” which is summarized below:

Best CFD Brokers in Australia
#1 Interactive Brokers Best Overall
#2 IG  Best for a wide range of CFD offering
#3 CMC Markets Best Forex CFD broker
#4 Plus500 Ideal for zero commission on CFD trading

If you’re feeling unsure about which CFD broker is the right fit for you, don’t worry! Our “Help Me Choose” tool can give you a personalized recommendation based on your preferences. Additionally, our comparison table breaks down the key features of various CFD brokers in Australia, making it easier to compare them side by side. Finally, our reviews provide even more details about each broker’s products and services.

We hope this article has been helpful in your search for the best CFD broker in Australia and that it saves you some time in your research. Keep in mind that it’s always best to do your research and determine which online broker is best for you. Also, consider using a demo account to test the platform and features before committing to a live account.

Other FAQs

What is a CFD broker?

A CFD broker is a financial services provider that offers Contracts-for-Difference (CFDs) trading services to clients. CFDs allow traders to speculate on the price movements of various underlying assets without actually owning them.

What should I look for in a CFD broker?

Some important factors to consider when choosing a CFD broker include regulatory compliance, trading fees, trading platform, customer support, and available trading instruments.

Are there any fees associated with CFD trading?

Yes, CFD brokers typically charge fees such as spreads, commissions, and overnight financing charges.

What is the minimum amount required to start CFD trading in Australia?

The minimum amount required to start CFD trading in Australia varies depending on the broker. Some brokers offer accounts with no minimum deposit, while others require a certain minimum balance to start trading. Choosing a broker that suits your trading needs and budget is important.

Toni Nasr, CFA, FRM
Fintech Analyst

Toni is a Fintech Analyst with over 8 years of experience in the financial industry where he worked as a financial control analyst at a regional bank and later conducted independent investment research analysis.

linkedin