All sections on this page
- What are the 10 best CFD brokers in Australia?
- Other brokers we tested
- How to choose the right CFD broker
- How we tested and scored the 10 CFD brokers
- Compare CFD brokers by asset class
- What is a CFD?
- ASIC retail leverage caps
- How CFD costs work in Australia
- CFD risks specific to Australian retail clients
- Tax treatment for Australian CFD traders
The best CFD brokers in Australia, ranked
- Capital.com: best broker for Australian CFD traders.
- FP Markets: best for ASX share CFDs through IRESS.
- Pepperstone: best for forex-led CFD traders.
- ThinkMarkets: deep CFD range across five platforms.
- CMC Markets: long-running platform leader.
- IG Markets: widest CFD product range in Australia.
- IC Markets: tightest typical raw spreads.
- Plus500: cleanest platform for new CFD traders.
- eToro: only AU shortlist broker with native copy trading.
- Interactive Brokers: direct market global CFD access.
The right answer depends on what you trade. We’ve matched each broker to the trader profile it suits below.
What are the 10 best CFD brokers in Australia?
Each platform below is scored out of 100 on the five weighted inputs, with spreads and minimum deposits taken from our live AUD accounts. Cards run in ranked order; every broker links to its full review.
1. Capital.com: best overall for AU CFD traders on platform and pricing
Why higher here? CFD Fit weights product range and platform quality above forex spread costs, where Capital.com trails the raw-spread brokers. See how we score ↓
Why we recommend Capital.com
Capital.com heads the CFD ranking on product range and platform breadth: more than 4,500 instruments spanning 130+ forex pairs, 25+ indices, 3,000+ share CFDs, 30+ commodities, 100+ crypto CFDs and 250+ ETF CFDs. Trading runs on its own WebTrader, on MT4 and MT5, or natively inside TradingView, and retail pricing is spread only with no separate commission. The minimum deposit is A$20 and there is no inactivity fee. ASIC issued Capital Com Australia AFSL 513393 in 2021, within a group also regulated by the FCA and CySEC.
Pros & cons
- ASIC AFSL 513393 plus FCA (UK) and CySEC (Cyprus), Tier-1 regulatory stack
- 4,500+ instruments across forex, indices, commodities, shares and crypto, with spread-only no-commission pricing
- Capital.com WebTrader plus native TradingView execution, one of the better proprietary stacks in the AU market
- No MT5 and no cTrader (MT4 is the only third-party desktop platform)
- AU operating history shorter than CMC, IG, Pepperstone or IC Markets
- Standard markup account is not the absolute lowest total cost for high-frequency scalpers
Broker's Detail
London-founded in 2016 and ASIC-regulated since 2021 under AFSL 513393, Capital.com is one of the fastest-growing mid-market CFD brokers in Australia. The group also holds FCA (UK), CySEC (Cyprus) and SCB (Bahamas) licences and reports 600,000+ active accounts globally.
The Standard account quotes EUR/USD from 0.6 pips with no commission. The platform stack is the Capital.com WebTrader, MT4 and native TradingView execution. Over 4,500 tradeable instruments span forex, indices, commodities, shares and crypto CFDs.
A$20 minimum deposit with fee-free AU funding via PayID, card, PayPal and Apple Pay. Retail leverage follows the ASIC retail caps. Negative balance protection and AFCA dispute coverage standard. Customer support runs 24/5 by live chat (no phone support for retail).
2. FP Markets: best route to ASX share CFDs through IRESS
Why we recommend FP Markets
FP Markets leads the group for ASX share CFDs, and is the only broker here with direct market access to ASX-listed equities through IRESS alongside its 10,000+ share CFDs. CFD traders get the Raw account, pricing EUR/USD around 0.10 to 0.15 pips plus A$3.50 per side commission, across MT4, MT5, cTrader, TradingView and IRESS Trader. The minimum deposit is A$100 for CFD accounts, there is no inactivity fee, and First Prudential Markets has held AFSL 286354 since 2005. It is one of only two brokers in this list running five trading platforms.
Pros & cons
- ASIC AFSL 286354 since 2005; founded and headquartered in Sydney
- Raw account with EUR/USD spreads from 0.0 pips and AUD 6 round-turn per lot
- IRESS account offers DMA access to ASX equities and international shares (AU-unique among RAW brokers)
- Standard (no commission) spreads less competitive than the Raw account; choose Raw if you trade actively
- IRESS account requires a separate application and higher minimum balance
- Education library is solid but lighter than CMC's or IG's
Broker's Detail
Founded in Sydney in 2005, FP Markets holds AFSL 286354 and is one of the longest-running Australian-headquartered RAW-style brokers. The group also holds CySEC (Cyprus), FSCA (South Africa), FSC (Mauritius) and CMA (Kenya) licences.
The Raw account pairs EUR/USD spreads from 0.0 pips with AUD 7 round-turn commission per standard lot. The Standard account is commission-free with wider spreads. What sets FP Markets apart on this list is the IRESS account, which provides DMA access to ASX equities and international shares.
$100 minimum deposit on the Raw and Standard accounts; the IRESS account requires a separate application and higher balance. Funding is fee-free via PayID, BPAY, card and PayPal. Retail leverage follows the ASIC retail caps. AFCA dispute coverage and negative balance protection standard.
FP Markets spread table (averaged over our most recent test cycle):
| Pair | Raw avg spread (pips) | + commission equivalent | Total cost |
|---|---|---|---|
| EUR/USD | 0.14 | 0.45 | 0.59 |
| AUD/USD | 0.10 | 0.45 | 0.55 |
| GBP/USD | 0.20 | 0.45 | 0.65 |
| USD/JPY | 0.10 | 0.45 | 0.55 |
| EUR/GBP | 0.30 | 0.45 | 0.75 |
| EUR/JPY | 0.40 | 0.45 | 0.85 |
3. Pepperstone: best for forex-led CFD traders
Why we recommend Pepperstone
Pepperstone stays our top-rated broker overall, and sits third here only because CFD Fit weights product range more heavily than cost. Its share CFD book runs to roughly 1,200 names, narrower than CMC or IG, but pricing and platform choice are hard to beat: Razor commission of A$3.50 per side, 90+ forex pairs, 25+ indices, and MT4, MT5, cTrader, TradingView plus its own web platform on a single login. There is no minimum deposit or inactivity fee, and Pepperstone has held AFSL 414530 since 2010.
Pros & cons
- ASIC AFSL 414530 since 2010; founded in Melbourne with continuing Australian operations
- Razor RAW account with EUR/USD spreads from 0.06 pips and AUD 7 round-turn per lot
- Five trading platform options (MT4, MT5, cTrader, TradingView, Pepperstone Platform)
- Share CFD range narrower than CMC, IG, IBKR (around 1,200 vs 10,000+ at CMC)
- No native ASX share investing (CFD only)
- Standard account spreads less competitive than the Razor account; choose Razor if you trade actively
Broker's Detail
Founded in Melbourne in 2010 under ASIC AFSL 414530, Pepperstone is one of Australia's largest forex brokers and has been continuously Australian-regulated since launch. It also holds Tier-1 licences with the FCA (UK), BaFin (Germany), CySEC (Cyprus), CMA (Kenya) and DFSA (Dubai).
Two main account types are offered. The Razor (RAW) account pairs EUR/USD spreads from 0.06 pips with AUD 7 round-turn commission per standard lot. The Standard account is commission-free with EUR/USD from roughly 1.1 pips. Five trading platforms are supported: MT4, MT5, cTrader, TradingView and the Pepperstone Trading Platform.
Funding is fee-free via PayID, BPAY, card and PayPal. AUD-denominated accounts available. Retail leverage follows the ASIC retail caps, with negative balance protection and AFCA dispute coverage standard. Customer support runs 24/7 by live chat.
Pepperstone spread table (averaged over our most recent test cycle):
| Pair | Razor avg spread (pips) | + commission equivalent | Total cost |
|---|---|---|---|
| EUR/USD | 0.10 | 0.45 | 0.55 |
| AUD/USD | 0.10 | 0.45 | 0.55 |
| GBP/USD | 0.20 | 0.45 | 0.65 |
| USD/JPY | 0.10 | 0.45 | 0.55 |
| EUR/GBP | 0.30 | 0.45 | 0.75 |
4. ThinkMarkets: deep CFD range across one Melbourne-founded account
Why higher here? CFD Fit rewards ThinkMarkets' broad multi-platform CFD range, while its site-wide score reflects standard-account spreads that trail the raw brokers. See how we score ↓
Why we recommend ThinkMarkets
ThinkMarkets brings a deep multi-asset book to the mid-table: 4,000+ instruments including 3,500+ share CFDs across the ASX, NYSE, NASDAQ, LSE and EU exchanges. The Melbourne-based broker pairs its ThinkTrader web and mobile platform, which adds TradingView on the same account, with MT4 and MT5 for expert advisor users on the Standard and ThinkZero accounts. ThinkZero prices raw spreads with A$3.50 per side commission on AUD accounts and carries a hard A$500 minimum. ThinkMarkets has been ASIC-regulated under AFSL 424700 since 2010.
Pros & cons
- ASIC AFSL 424700 since 2010; founded and headquartered in Melbourne
- 4,000+ tradeable instruments across MT4, MT5, ThinkTrader and TradingView on a single account
- ThinkTrader proprietary mobile app is one of the better AU trading apps
- ThinkZero commission quoted in USD (vs AUD at Pepperstone, IC Markets and Fusion)
- Standard account at 0.4 pips beaten on raw cost by Pepperstone, IC Markets and Fusion
- USD 10 monthly inactivity fee after 12 months dormant
Broker's Detail
Founded in Melbourne in 2010 (AFSL 424700, TF Global Markets (Aust) Pty Ltd), ThinkMarkets holds Tier-1 licences alongside ASIC: FCA (UK), CySEC (Cyprus), FSCA (South Africa), DFSA (Dubai), JFSA (Japan).
The Standard account is commission-free with EUR/USD from 0.4 pips. The ThinkZero RAW account pairs EUR/USD spreads from 0.0 pips with USD 7 round-turn commission. Platforms supported are the ThinkTrader proprietary platform, MT4, MT5, TradingView and ZuluTrade copy trading.
$0 minimum deposit with AU funding via PayID, BPAY, POLi and card. Retail leverage follows the ASIC retail caps. AFCA dispute coverage and negative balance protection standard. Customer support runs 24/5 by live chat, email and phone.
5. CMC Markets: long-running platform leader with strong charting
Why higher here? CFD Fit credits CMC's 12,000+ instrument range and Next Generation platform, where the site-wide score weights its wider standard spreads more heavily. See how we score ↓
Why we recommend CMC Markets
CMC Markets lists over 12,000 CFD instruments, including 330+ forex pairs, 10,000+ share CFDs, 100+ commodities and one of the few bond CFD lineups in this group, all on its Next Generation platform with pattern recognition scanning and client sentiment data. The Standard account is spread only with no commission and no minimum deposit, and the separate CMC Invest service adds direct ASX share dealing under its own licence. Research feeds from Morningstar and Reuters are built in. CMC Markets Asia Pacific has held AFSL 238054 since 2002.
Pros & cons
- ASIC AFSL 238054 since 2002, plus FCA, BaFin, MAS, CIRO regulation globally, top-tier trust profile
- Next Generation platform is the strongest proprietary CFD platform in Australia
- 12,000+ CFD instruments plus integrated CMC Stockbroking for ASX equities
- Standard account spreads on EUR/USD and AUD/USD wider than top-tier RAW brokers
- Share CFD overnight financing rates above average for the AU market
- Customer support hours 24/5 only (closed weekends)
Broker's Detail
Founded in London in 1989 and operating in Australia since 2002, CMC Markets is one of the longest-tenured CFD brokers in the AU market. The AU entity holds AFSL 238054. The group is LSE-listed and also holds FCA (UK), BaFin (Germany), MAS (Singapore) and CIRO (Canada) licences.
Standard account spreads start from 0.5 pips on EUR/USD with no commission; FX Active pairs tighter spreads with a commission. CMC also runs a separate stockbroking service for direct ASX share investing. The Next Generation platform pairs with MT4 (no MT5 or cTrader on the AU entity).
$0 minimum deposit and fee-free AU funding via PayID, BPAY and card. Retail leverage follows the ASIC retail caps. Negative balance protection and AFCA dispute coverage standard. Customer support runs 24/5 by live chat, email and phone.
CMC Markets spread table (indicative standard-account pricing, not from our measured capture):
| Pair | CMC Standard (typical pips) | AU industry avg (Standard) |
|---|---|---|
| EUR/USD | 0.5 | 1.1 |
| AUD/USD | 0.6 | 1.3 |
| GBP/USD | 0.9 | 1.4 |
| USD/JPY | 0.7 | 1.4 |
| EUR/GBP | 0.7 | 1.4 |
| EUR/JPY | 1.2 | 1.9 |
| AUD/JPY | 1.2 | 2.1 |
6. IG Markets: widest CFD product range in Australia
Why we recommend IG Markets
IG Markets is the range heavyweight, with 17,000+ markets spanning 80+ forex pairs, 30+ indices, 13,000+ share CFDs, 35+ commodities and bond CFDs, plus Knock-Out and Barrier options that no other broker here offers to retail clients. Trading runs on the IG web platform or MT4, with ProRealTime charting free for clients trading four or more times a month. The minimum deposit is A$450, the highest in this list, and IG has operated in Australia since 2002, with IG Australia Pty Ltd holding AFSL 515106.
Pros & cons
- ASIC AFSL 515106 (IG Australia Pty Ltd), operating in Australia since 2002, plus FCA, MAS, CIRO regulation globally; LSE-listed parent with FTSE 250 status
- 17,000+ tradeable markets including 13,000+ share CFDs, the broadest range of any ASIC-regulated broker
- $0 minimum deposit; fee-free PayID, BPAY, card and PayPal funding for AU clients
- No MT5 and no cTrader on the AU entity
- No native TradingView trading integration
- Share CFD overnight financing rates above the AU market average
Broker's Detail
IG is one of the oldest brokers in the industry, founded in 1974 and listed on the London Stock Exchange (FTSE 250). IG has operated in Australia since 2002; new Australian CFD accounts are issued by IG Australia Pty Ltd under AFSL 515106. The group also holds FCA (UK), MAS (Singapore), CIRO (Canada) and 8 additional Tier-1 licences.
The headline draw is product breadth: 17,000+ tradeable markets including 13,000+ share CFDs, the broadest range of any ASIC-regulated broker we cover. Forex coverage spans 90+ pairs. Spreads start from 0.6 pips on EUR/USD with no commission on the standard account; an Active Trader rebate programme is available for high-volume clients.
$0 minimum deposit and fee-free AU funding via PayID, BPAY, card and PayPal. Platforms include MT4, the IG Web Platform and the IG Mobile App. Retail leverage follows the ASIC retail caps. Negative balance protection and AFCA dispute coverage standard.
IG Markets spread table (averaged over our most recent test cycle):
| Pair | IG typical spread (pips) | AU industry avg (Standard) |
|---|---|---|
| EUR/USD | 1.13 | 1.1 |
| AUD/USD | 0.6 | 1.3 |
| GBP/USD | 0.9 | 1.4 |
| USD/JPY | 0.7 | 1.4 |
| EUR/GBP | 0.9 | 1.4 |
| EUR/JPY | 1.5 | 1.9 |
| AUD/JPY | 1.4 | 2.1 |
Broker Screenshots
7. IC Markets: tightest typical raw spreads
Why we recommend IC Markets
IC Markets is the execution pick of the ten. The Raw Spread account averaged 0.01 pips on EUR/USD in our May and June 2026 testing with A$4.50 per side commission, and CFD coverage takes in 25+ indices, roughly 2,000 share CFDs on MT5, commodities and 18+ crypto CFDs. cTrader is its recommended platform alongside MT4 and MT5, and execution consistently places among the fastest we track, with free VPS for qualifying active traders. The minimum deposit is A$200, and International Capital Markets has held AFSL 335692 since 2007.
Pros & cons
- ASIC AFSL 335692 since 2007; founded in Sydney
- Raw Spread account with EUR/USD spreads from 0.02 pips and AUD 9.00 round-turn per lot
- True ECN/cTrader connectivity with deep liquidity from 25+ Tier-1 banks and dark pools
- $200 minimum deposit (vs $0 at Pepperstone, CMC, IG, Fusion)
- No native TradingView integration on the AU entity
- Share CFD range narrower than CMC, IG, IBKR
Broker's Detail
Founded in Sydney in 2007 (AFSL 335692), IC Markets is one of Australia's longest-running ECN brokers. The Raw Spread account delivers EUR/USD spreads from 0.02 pips with AUD 9 round-turn commission, while the cTrader RAW account bills USD 3.00 per USD 100,000 traded per side, converted to your account currency. The Standard account is commission-free with spreads from 1.0 pips.
Liquidity comes from 25+ Tier-1 banks and dark pools; the result is true ECN execution that suits scalpers and EA traders. Platforms supported are MT4, MT5 and cTrader. Over 2,250 tradeable instruments span forex, indices, commodities, bonds, shares and crypto CFDs.
Minimum deposit is $200, higher than the $0 brokers in this list. AUD funding via PayID, BPAY and card is fee-free. Retail leverage follows the ASIC retail caps, with AFCA dispute coverage and negative balance protection.
IC Markets spread table (averaged over our most recent test cycle):
| Pair | Raw Spread avg (pips) | + commission equivalent | Total cost |
|---|---|---|---|
| EUR/USD | 0.01 | 0.58 | 0.59 |
| AUD/USD | 0.16 | 0.58 | 0.74 |
| GBP/USD | 0.30 | 0.58 | 0.88 |
| USD/JPY | 0.10 | 0.58 | 0.68 |
| AUD/JPY | 0.50 | 0.58 | 1.08 |
8. Plus500: cleanest platform for new CFD traders
Why we recommend Plus500
Plus500 keeps CFD trading simple: one spread-only account, one proprietary WebTrader platform across browser, Windows and mobile, and 2,800+ instruments including around 70 forex pairs, 30+ indices and roughly 2,000 share CFDs. Guaranteed stop-loss orders, with the premium charged only if triggered, make it a strong risk-management fit for newer CFD traders. Most applications were approved within 30 minutes in our account-opening test, and the minimum deposit is A$100. Plus500AU has held AFSL 417727 since 2012, and the parent is a FTSE 250 company.
Pros & cons
- ASIC AFSL 417727 since 2012; FTSE 250-listed parent (LSE:PLUS) for a strong trust profile
- WebTrader platform is the cleanest beginner CFD interface in our coverage
- Best mobile app in our 2026 Best Brokers for Beginners review
- No MT4, MT5, cTrader or TradingView, proprietary platform only
- Forex pair count narrower than Pepperstone, IC Markets, OANDA
- Inactivity fee of USD 10/month kicks in after just 3 months (most AU brokers wait 6 to 12 months)
Broker's Detail
London Stock Exchange-listed (FTSE 250) and ASIC-regulated under AFSL 417727 since 2012, Plus500 operates a markup-pricing model on a proprietary platform with no MT4/MT5/cTrader.
Spreads are baked into the price (no commission). EUR/USD averages around 0.8 pips. The platform is deliberately simple: a single account type, a clean trade ticket and 2,800+ CFD instruments. Guaranteed stop-loss orders are available for a small premium.
$100 minimum deposit with fee-free AU funding via PayID, BPAY, card and PayPal. Retail leverage follows the ASIC retail caps. AFCA dispute coverage and negative balance protection standard.
Plus500 spread table (averaged over our most recent test cycle):
| Pair | Plus500 typical (pips) | AU industry avg (Standard) |
|---|---|---|
| EUR/USD | 0.6 to 1.0 | 1.1 |
| AUD/USD | 0.7 to 1.2 | 1.3 |
| GBP/USD | 1.0 to 1.5 | 1.4 |
| USD/JPY | 0.8 to 1.2 | 1.4 |
| EUR/GBP | 1.2 to 1.8 | 1.4 |
Broker Screenshots
9. eToro: best for social and copy trading
Why higher here? eToro is the only AU shortlist broker with native copy trading, which CFD Fit credits under platform quality; its overall score is pulled down by forex pricing, where it is not competitive. See how we score ↓
Why we recommend eToro
eToro takes the social angle on CFDs, pairing its CopyTrader system, the most developed copy product in our coverage, with a mix of CFDs and real shares across roughly 3,000 instruments. Retail pricing is spread only, and real US, UK, EU and ASX shares trade at a flat US$2 per order. The catch for Australians is the USD-only account, which adds a conversion cost on every AUD deposit and withdrawal. The minimum deposit is US$50, and eToro AUS Capital has held AFSL 491139 since 2018.
Pros & cons
- ASIC AFSL 491139 since 2018; Tier-1 regulation also via FCA (UK) and CySEC (Cyprus)
- CopyTrader and Smart Portfolios, the most developed social trading product in the industry
- Real share investing with zero commission across US, AU, UK and EU exchanges
- Trading account is USD-based; the AUD local currency account holds AUD, but conversion fees apply when funding non-AUD trades
- No MT4, no MT5, no cTrader, no TradingView trading
- Forex spreads (EUR/USD from 1.0 pip) wider than RAW brokers like Pepperstone or IC Markets
Broker's Detail
Founded in Tel Aviv in 2007 and operating in Australia since 2018 under AFSL 491139, eToro is the world's largest social trading platform with 30M+ registered users globally. The group also holds FCA (UK), CySEC (Cyprus) and FinCEN (US) regulation.
eToro's proprietary platform supports both forex/CFD trading and direct share investing with zero commission across US, AU, UK and EU exchanges. CopyTrader lets you automatically replicate other traders' positions; Smart Portfolios bundle thematic baskets. No MT4, MT5, cTrader or TradingView trading.
The trading account is USD-based, with an AUD local currency account that lets Australians deposit, hold and withdraw AUD; conversion fees from 0.75% apply when switching to USD. $50 USD minimum deposit; funding via card, PayPal, bank transfer and select e-wallets. Retail leverage follows the ASIC retail caps. AFCA dispute coverage standard.
eToro spread table (indicative standard-account pricing, not from our measured capture):
| Pair | eToro typical spread (pips) | AU industry avg (Standard) | Lowest-cost AU RAW account |
|---|---|---|---|
| EUR/USD | 1.0 | 1.1 | 0.5 (incl. commission) |
| AUD/USD | 1.0 | 1.3 | 0.6 |
| GBP/USD | 2.0 | 1.4 | 0.7 |
| USD/JPY | 1.0 | 1.4 | 0.6 |
| EUR/GBP | 1.5 | 1.4 | 0.8 |
10. Interactive Brokers: direct market access for global CFDs
Why lower here? CFD Fit centres on multi-asset CFD breadth and platform accessibility, where Interactive Brokers' steep TWS learning curve counts against it; its overall score reflects its market-leading execution and pricing. See how we score ↓
Why we recommend Interactive Brokers
Interactive Brokers rounds out the ten for traders who want CFDs beside a full investing stack. Index, single-stock and forex CFDs sit alongside direct access to 150+ markets in 33 countries, real bonds and listed options, all in true multi-currency accounts that hold AUD without forced conversion. Pricing is commission-based rather than spread markup, and ASX stockbroking starts from about A$6 per trade, the cheapest on our site for active share traders. There is no minimum deposit, and Interactive Brokers Australia has held AFSL 453554 since 2007.
Pros & cons
- ASIC AFSL 453554 (Interactive Brokers Australia Pty Ltd), with a NASDAQ-listed parent regulated globally by SEC, FINRA, CFTC, FCA, MAS, CIRO, JFSA and HKSFC
- Cheapest ASX share brokerage on this site, from AUD 6 minimum per trade; US shares from USD 0.005 per share with a USD 1 minimum
- True multi-currency accounts. Hold AUD, USD, EUR, GBP and 20+ others natively without forced conversion at deposit or withdrawal
- TWS desktop has a famously steep learning curve. The interface is dense and looks dated next to Pepperstone or CMC's Next Generation
- No MT4, no MT5, no cTrader, no TradingView. Not a fit for traders running existing forex EAs
- IBKR Pro commission structure rewards experienced traders
Broker's Detail
Founded in 1978 and NASDAQ-listed (IBKR), Interactive Brokers operates the AU entity under AFSL 453554. The group holds licences across every major financial market and is one of the very few brokers offering direct exchange access alongside CFDs.
IBKR's pricing model is volume-tiered with very low headline commissions. Spreads on forex pairs start from 0.2 pips with a typical commission of USD 2.50 per AUD 100,000. The platform stack is built around Trader Workstation (TWS), which is feature-dense and built for professionals, plus the lighter IBKR Mobile, GlobalTrader and WebTrader.
$0 minimum deposit with fee-free AU funding via PayID, BPAY, card and wire. Retail leverage follows the ASIC retail caps. AFCA dispute coverage and negative balance protection standard. Inactivity fees apply on small accounts.
Other brokers we tested
The ten above are the brokers we rank for CFD trading specifically. Several brokers that score well overall are absent from that list, and the reason is almost always product range rather than pricing or trust.
| Broker | Overall 2026 score | Why it is not on the CFD list |
|---|---|---|
 OANDA | 92 | Second overall on this site, but a forex specialist: under 150 instruments, a narrower product range than CMC, IG or Interactive Brokers. |
 Fusion Markets | 91 | Third overall on the strength of its A$2.25 commission, but its share CFD range trails CMC, IG and Interactive Brokers. |
 MultiBank Group | 81 | Multi-regulator trust and ECN pricing, carried in our gold table, but MT4 only on the Australian entity and no proprietary CFD platform. |
 Eightcap | 78 | Owns the crypto CFD category here with the widest crypto range on the ASIC market, but its wider CFD range does not reach the ten. |
 GO Markets | 78 | An AFSL held since 2006 with cTrader and TradingView on raw pricing, but a narrower CFD range than the platform leaders. |
 Vantage | 66 | Four platforms and a RAW account, and it carries entries on our commodity and gold pages, but it leads no CFD category. |
 TMGM | 65 | Edge account pricing with IRESS share access, listed in our gold and commodity tables without leading either. |
All 29 tested brokers with full scores sit on the forex broker reviews hub.
How to choose the right CFD broker
Five checks separate a safe CFD trading account from an expensive mistake. Work through them in order, then go deeper on the one that decides it for your trading style.
Check the AFSL
ASIC register, AFCA membership.
Match the platform
Third-party software or proprietary.
Price the full cost
Spread + commission + financing.
Test on a demo
Virtual funds, real execution.
Confirm risk controls
Stops, close-out, risk warning.
Compare brokers by the factor that decides it
Each shortlist below re-ranks the market for one decision factor, tested the same way as this page.
Start with the overall ranking
Our tested, ASIC-only ranking of the best forex brokers in Australia is the baseline every shortlist below re-ranks.
The platform decides it
Rankings change once the trading software is fixed. Pick yours first, then compare.
Cost decides it
Account types price the same trade differently. These shortlists rank by total cost.
You're starting out
Simpler platforms, stronger education, and demo accounts with no time pressure.
Your strategy decides it
Execution speed, copy functionality and EA support separate these shortlists.
If product range is the deciding factor, the gap between the ten platforms is wide enough to settle the choice on its own:
How we tested and scored the 10 CFD brokers
We opened or maintain a live AUD account with all ten brokers on this list. Rankings are based on five weighted inputs:
- Trust and regulation: AFSL standing, parent strength, ASIC enforcement record over the last 36 months, AFCA membership.
- Total cost of trading: typical EUR/USD and AUD/USD spread plus commission, plus overnight financing on a sample share CFD held five nights.
- Product range: total CFDs across forex, indices, commodities, shares, crypto, ETFs and bonds.
- Platform quality: proprietary platform features, MT4/MT5/cTrader/TradingView availability, mobile app stability.
- AU-specific features: PayID and BPAY funding, ASX-listed share CFD depth, AUD base account, support hours overlapping Sydney trading.
Read more in our methodology. Every broker on this list holds an Australian Financial Services Licence, verifiable on ASIC’s professional registers, and is a current AFCA member. We don’t list offshore-only brokers. The displayed score on each broker card is a CFD Fit Score out of 100 that reweights the five inputs above for the CFD context. Each card also shows the broker’s Overall 2026 Score, the site-wide rating used on our broker reviews page, so you can see both together.
Compare CFD brokers by asset class
- Share & stock CFDsASX and global equities at 5:1 retail leverage
- Crypto CFDsCapped at 2:1 retail leverage in Australia, the strictest tier in the PIO. Eightcap leads on range, IC Markets and Pepperstone on cost.
- Gold (XAU) CFDs20:1 PIO tier alongside major indices
- Index CFDsMajor indices at 20:1, minors at 10:1
- Commodity CFDsSilver, oil and softs at 10:1
- Treasuries (bond) CFDsA niche but useful product for rate traders. CMC Markets and IG Markets are the only ASIC brokers offering meaningful coverage.
Each page below re-ranks the market for one asset class, tested the same way as this one. The pick shown is that page’s number one.
| # | Page | Who it is for | Top pick | Read |
|---|---|---|---|---|
| 1 | Commodity CFDs | Traders on metals, energy and softs | CMC Markets | See below |
| 2 | Crypto CFDs | Traders working under the 2:1 retail cap | Eightcap | See below |
| 3 | Gold CFDs | XAU/USD traders comparing spread and commission | Capital.com | See below |
| 4 | Index CFDs | Traders on the ASX 200 and global indices | IG Markets | See below |
| 5 | Share CFDs | Traders who want single-stock exposure | IG Markets | See below |
| 6 | Treasury and bond CFDs | Traders on rates and government bonds | IG Markets | See below |
Commodities
Metals, energy and softs price differently from forex, and the platform matters more than the spread once you leave gold. CMC Markets leads on range with 100+ commodity CFDs. Compare the field in our commodity CFD brokers guide.
Crypto
ASIC caps retail crypto CFD leverage at 2:1, the tightest tier in the Product Intervention Order, so range and weekend access decide this one rather than leverage. Eightcap carries the widest crypto CFD range on the ASIC market. See the crypto CFD brokers guide.
Gold
Gold sits at 20:1 for retail clients and splits cleanly between no-commission spread pricing and raw plus commission. Capital.com leads on no-commission XAU/USD. The full field is in our gold CFD brokers guide.
Indices
Index CFDs are where proprietary platforms earn their keep, and the ASX 200 is priced very differently across brokers. IG Markets leads on range. Compare them in our index CFD brokers guide.
Shares
Share CFDs are capped at 5:1 and the broker’s equity coverage matters more than its forex pricing. IG Markets leads on range, and FP Markets is the one route to real ASX equities through IRESS. See the share CFD brokers guide.
Treasuries
Bond and rates CFDs are the thinnest corner of the AU market and only a handful of brokers carry a real lineup. IG Markets leads. The comparison is in our treasury and bond CFD brokers guide.
For a deeper view across the AU market, see our overall best forex brokers in Australia ranking.
What is a CFD?
A Contract for Difference (CFD) is a derivative. You agree with a broker to exchange the difference in price of an underlying asset between when the contract opens and when it closes. You don’t take ownership of the asset itself. You’re paid (or you pay) the difference.
Three things follow from that.
First, you can go long or short with equal ease. CFDs were one of the first retail-accessible products that let an Australian trader profit from a falling ASX 200, oil price or NVIDIA share price. The mechanism is the same in either direction.
Second, you trade on margin. Because you’re not buying the asset, you put up a fraction of the contract value. ASIC’s Product Intervention Order sets the cap on how much leverage a retail client can be offered (full table below). The flip side is that losses are leveraged in the same way as gains.
Third, you pay financing on positions held overnight. Long positions on share CFDs typically incur a daily financing charge equal to a benchmark rate plus a broker margin. Short positions sometimes earn a credit. Forex CFDs use a different swap mechanism based on the interest rate differential between the two currencies in the pair.
CFDs are a leveraged product. ASIC found 72% of retail CFD clients lost money in its 2019 review (REP 626), which is part of why the PIO leverage caps were introduced. In the 2024 financial year ASIC put the figure at 68%, more than $458 million including $73 million in fees (REP 828, published 20 January 2026). ASIC does not require Australian brokers to publish an issuer-specific loss percentage, so there is no per-broker figure to compare here. The wider context (daily volume, retail success rates, demographic data) is in our forex trading statistics page.
CFDs suit short-term directional trading; direct ownership suits long-term holding. Our CFDs vs stocks comparison covers the ownership, tax and cost differences in detail.
Market maker vs DMA CFD pricing
A market-maker CFD is priced by the CFD broker itself, which takes the other side of the trade and hedges its exposure. A DMA (direct market access) CFD routes the order into the underlying market, so the contract mirrors the exchange order book of the underlying asset. On this list, Interactive Brokers provides DMA share CFDs and FP Markets offers DMA-style share CFD execution through IRESS; most other platforms quote market-maker pricing on shares.
ASIC retail leverage caps
Australian retail traders face ASIC leverage caps across every CFD asset class under the Product Intervention Order (Instrument 2020/986), in force since 29 March 2021 and extended by ASIC in 2022 for a further five years, to 23 May 2027. Our ASIC regulation guide sets out how each cap works. The tiers by asset class are shown below.
PIO leverage tiers at a glance
ASIC Product Intervention Order retail caps by asset class
Wholesale clients can request higher leverage at the broker’s discretion, typically up to 500:1, subject to passing the Corporations Act wholesale tests (broadly: net assets above A$2.5 million, or gross income above A$250k for two consecutive years, certified by a qualified accountant). This isn’t a retail product. Nine in ten readers of this site won’t qualify and shouldn’t try to.
Negative balance protection is mandatory for retail clients, margin close-out triggers at 50% of the initial margin, and bonuses and inducements to retail clients are banned. These rules apply to every ASIC-regulated CFD broker without exception. ASIC did not, however, impose a per-broker loss-rate disclosure; it declined issuer-specific risk warnings when it made the order.
See our guide to leverage in forex trading for how each cap translates into margin requirements and risk per trade.
How CFD costs work in Australia
There are three cost lines on every CFD trade. Knowing them prevents the “why am I down on a winning trade” surprise.
Spread. The difference between the bid and ask. Expressed in pips for forex, points for indices, dollars or cents for shares and commodities. On a Standard / no-commission account, the spread is the entire cost. On a RAW or Razor or Raw Spread account, the spread is tighter and a separate commission is charged.
Commission. Charged per side or per round-turn on RAW-style accounts. AUD 7 round-turn per standard 100k lot is the typical AU benchmark on forex (Pepperstone Razor, FP Markets Raw); IC Markets Raw Spread sits above it at AUD 9.00. Share CFD commissions are charged separately, typically as a percentage of trade value with a minimum dollar floor. ASX share CFD commissions sit between AUD 6 and AUD 11 per side at most brokers on this list. Fusion Markets undercuts the AUD 7 benchmark at AUD 4.50 round-turn; see the Fusion Markets review.
Overnight financing. Charged on positions held past the daily rollover (5pm New York time). For share CFDs, this is a daily charge based on a benchmark rate (usually the local cash rate or interbank rate) plus a broker margin (typically 2.5% to 3.5%). For forex CFDs, the cost is a swap reflecting the interest rate differential between the two currencies in the pair, which can be a credit or a debit depending on direction.
A worked example. You buy 1,000 BHP CFDs at AUD 45. The position value is AUD 45,000. Your margin (5:1 leverage cap on shares) is AUD 9,000. Daily overnight financing at, say, RBA cash rate plus 3% = around 7% annualised. Held five nights, that’s roughly AUD 43 in financing on top of any spread cost. Hold the same position three months and financing alone is around AUD 780. Long-term holders are usually better served by direct share investing than by a CFD.
CFD risks specific to Australian retail clients
CFDs are a high-risk product. The ASIC PIO exists because retail loss rates were unacceptable under prior leverage limits. Even with the new caps, ASIC recorded 68% of retail CFD investors losing money in the 2024 financial year (REP 828, published 20 January 2026). Take the risk seriously. ASIC’s consumer site Moneysmart lists CFDs under its investment warnings.
Leveraged loss. A major forex position at the maximum retail leverage can lose its full margin from a 3.3% adverse move. Stops slip on fast markets. Position-size for the margin you can afford to lose, not the notional you’d like to control.
Gap risk. Markets gap over weekends and in volatile markets around scheduled events. Stop-losses are not guaranteed unless you specifically use a Guaranteed Stop-Loss Order (GSLO) and accept the premium. CMC, IG, Plus500 and easyMarkets offer GSLOs in some form. Most other brokers don’t.
Broker insolvency. ASIC requires segregated client money at an Approved Australian Bank. This protects against misuse but doesn’t fully insulate you from a counterparty failure scenario, particularly on unrealised CFD profits which sit on the broker’s balance sheet. AFCA can resolve disputes but doesn’t insure deposits. The Compensation Scheme of Last Resort (CSLR) covers unpaid AFCA determinations from April 2024 but does not cover trading losses or general broker insolvency.
Concentration risk. Running multiple positions on correlated instruments (e.g. long EUR/USD plus short USD/JPY plus long gold) can expose you to a single underlying USD-direction risk that’s larger than each position implies on its own.
The mitigation playbook is well-known. Trade smaller. Use stops. Avoid leverage at the cap. Read the PDS and the target market determination before opening an account.
Negative balance protection and demo accounts
Negative balance protection is mandatory for Australian retail CFD accounts under the ASIC Product Intervention Order, which runs until 2027, so a retail client cannot lose more than the funds held in the trading account. Before funding a live account, open a demo. Virtual funds let you test a CFD trading platform, its trading tools and order execution at zero risk, and most brokers on this list provide one.
Tax treatment for Australian CFD traders
The ATO generally treats profits from CFD and forex trading as assessable income rather than capital gains, under Taxation Ruling TR 2005/15. The view is that CFDs are a trading activity rather than an investment, given the leverage and short-term nature of most CFD positions. Losses are typically deductible against other assessable income.
There are edge cases. A genuine business of trading is treated differently from a hobbyist account. Holding CFDs on dividend-paying shares creates dividend-equivalent income on which the broker withholds at the contract level. Foreign-currency CFDs may produce small foreign income tax implications. None of this is straightforward.
We are not licensed to provide tax advice. Speak to a registered tax agent about your circumstances. The ATO Community thread on CFD tax treatment walks through the common retail scenarios and is worth reading once a year before tax time.
FAQs
What is the best CFD trading platform in Australia in 2026?
Are CFDs legal in Australia?
What is the maximum CFD leverage in Australia?
Do I pay tax on CFD profits in Australia?
Are CFD profits covered by AFCA?
What is the difference between CFD trading and share investing?
Which CFD broker is safest in Australia?
Is CFD trading profitable?
What is the best app for CFD trading?
Does CommSec offer CFD trading?
About the author
Justin co-founded CompareForexBrokers in 2014 and has traded forex since 1998. Based in Melbourne, he has tested every ASIC-regulated broker on this site personally and has written for Forbes, Kiplinger, Finance Magnates, the Australian Financial Review and The Age. He holds a Bachelor of Commerce (Honours) and a Master of Marketing from Monash University. Justin is the Strategic Head of Research for the site.