Outside gold, the most-traded commodity CFDs in Australia are silver, crude oil and natural gas, and they trade differently enough that one broker rarely wins all three. My recommendation depends on what matters most: CMC Markets has the widest commodity range, IG Markets has the platform depth, and Pepperstone is cheapest on silver and oil. Non-gold commodities are capped at 10:1 leverage for retail clients under ASIC’s product intervention order, one tier below gold. Gold has its own guide, since it trades on different drivers. For the broader market, see our leading ASIC-regulated forex brokers guide.
Quick verdict: commodity CFD brokers in Australia
Traders should ignore instrument count and price the contracts they trade, because my priority is the spread on the contract I'm trading, not the menu. Range and cost pull opposite ways. The broadest books carry softs and exotic metals you'll never touch, while the tightest quotes I see cluster on silver, WTI and natural gas, where the volume sits. If you trade two, you don't need 50. I recommend you price the contracts you hold individually, because a wide catalogue tells you nothing about the spread on the one you're trading. I'd rather you check the spread on your contract than count instruments; I'd say that's the only way to shop, and you'll save time. Your strategy will thank you.
- CMC Markets: widest commodity range, 100+ CFDs.
- IG Markets: commodities in spot and futures form.
- Pepperstone: low-cost silver and oil on Razor.
- IC Markets: raw-spread metals and energy for scalpers.
- FP Markets: raw commodity pricing across four platforms.
- Vantage: keenly priced commodity commissions on RAW.
- Capital.com: no-commission commodity pricing on WebTrader.
- Eightcap: commodities traded from native TradingView.
- Plus500: simple spread-only commodity trading.
- AvaTrade: spread-only commodity pricing, no commission.
Range and pricing model split this field. The table below shows the count, markets and platform per broker. I would start with the Commodity Fit Score in the last column: it weights range most heavily, which is why CMC leads.
Comparison table: commodity CFD brokers
| # | Broker | Commodity CFDs (count) | Key markets | Max retail leverage | Platform | Visit broker | More details |
|---|---|---|---|---|---|---|---|
| 1 | #1 Top commodity CFD pick CMC Markets | 100+ | silver, WTI, Brent, natural gas, copper, softs | 10:1 | Next Generation | Visit CMC Markets | |
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| 2 |  IG Marketscommodities in spot and futures form | 35+ | silver, WTI, Brent, natural gas, copper | 10:1 | IG web, L2 Dealer | Visit IG Markets | |
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| 3 |  Pepperstonelow-cost silver and oil on Razor | 30+ | silver, WTI, Brent, natural gas | 10:1 | MT4, MT5, cTrader | Visit Pepperstone | |
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| 4 |  IC Marketsraw-spread metals and energy for scalpers | 25+ | silver, WTI, Brent, natural gas | 10:1 | MT4, MT5, cTrader | Visit IC Markets | |
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| 5 |  FP Marketsraw commodity pricing across four platforms | 11 | silver, WTI, Brent, natural gas | 10:1 | MT4, MT5, cTrader, IRESS | Visit FP Markets | |
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| 6 |  Vantagekeenly priced commodity commissions on RAW | 20+ | silver, WTI, Brent, natural gas | 10:1 | MT4, MT5, TradingView | Visit Vantage | |
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| 7 |  Capital.com | 30+ | metals, energy, softs | 10:1 | WebTrader, MT4, TradingView | Visit Capital.com | |
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| 8 |  Eightcapcommodities traded from native TradingView | Yes | silver, oil, gas, softs | 10:1 | MT4, MT5, TradingView | Visit Eightcap | |
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| 9 |  Plus500simple spread-only commodity trading | Yes | silver, WTI, Brent, natural gas, copper, softs | 10:1 | Plus500 WebTrader | Visit Plus500 | |
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| 10 |  AvaTrade | Not stated | silver, oil, gas, softs | 10:1 | MT4, MT5, AvaTradeGO | Visit AvaTrade | |
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| 11 |  TMGM | Not stated | silver, WTI, Brent, natural gas, softs | 10:1 | MT4, MT5, TMGM App | Visit TMGM | |
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Leverage on non-gold commodity CFDs is capped at 10:1 for retail clients by ASIC (gold separately at 20:1). Counts are taken from each broker’s current Australian disclosure and change as brokers add or drop markets.
Before you go any further, I have to start with the blunt truth: CFDs are leveraged products and carry a high risk of loss. Most retail CFD accounts lose money. Review the broker's PDS and TMD before trading.
1. CMC Markets: widest commodity range
Range is the deciding factor for me here, and on that score nobody touches CMC Markets. There are 100+ commodity CFDs across precious metals, energy and agricultural softs, the widest lineup we tested, including gold, silver, WTI and Brent crude and natural gas. Everything trades on Next Generation, with gold, silver and oil also carried on its reduced MT4 build. The Standard account is spread only with no commission and no minimum deposit. As at every broker on this page, retail commodity leverage is capped at 10:1 under ASIC rules. CMC has operated under AFSL 238054 since 2004.
Average spread
EUR/USD 0.5 pips (Standard, advertised)
Trading platforms
Next Generation, TradingView
Minimum deposit
A$0
Regulation
ASIC AFSL 238054
Why higher here? Commodity CFD Fit weights commodity range and platform quality rather than sitewide all-round cost. CMC lists 100+ commodity CFDs against roughly 30 to 35 at the brokers below it, and Next Generation is the strongest proprietary platform on this page, which lifts it well above its #21 sitewide position. See the ranking method ↓
Pros & Cons
- Broadest commodity CFD range on this page, 100+ across metals, energy and softs
- Both spot and futures forms available for carrying positions
- Strong charting on the Next Generation platform
- Next Generation is proprietary, no MT4, MT5 or cTrader
- Range breadth, not lowest cost, is the reason to pick it
- Fewer platform choices than the MetaTrader brokers below
2. IG Markets: deep metals and energy range
IG Markets is the broker to point to for the same market in two different forms. It runs CMC close, with 35+ commodity CFDs covering gold, silver, WTI and Brent crude, natural gas and the agricultural softs, and it is the broker to pick for traders who want the same markets in both spot and futures form. Positions run 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$100 by card (A$10 by BPAY). IG has operated in Australia since 2002, and IG Australia Pty Ltd holds AFSL 515106.
Average spread
EUR/USD 0.16 pips (Forex Direct, measured)
Trading platforms
IG web, L2 Dealer, TradingView
Minimum deposit
A$100
Regulation
ASIC AFSL 515106
Why higher here? Commodity Fit weights commodity range and platform quality, which lifts IG Markets above its #14 sitewide position. See the ranking method ↓
Pros & Cons
- Deep commodity coverage across metals and energy, 35+ CFDs
- Spot and futures forms for carrying positions without nightly financing
- Proprietary IG web plus L2 Dealer for order depth
- No MT4, MT5 or cTrader for commodities
- Range narrower than CMC Markets at 35+ versus 100+
- All-in cost sits mid-pack
3. Pepperstone: lowest-cost major commodity CFDs
Cost is where Pepperstone shines, and I would point most traders on this page to it for traders who do not need CMC's breadth. It measured cheapest on silver and oil in our testing, and only this ranking's weighting toward range keeps it third. Commodity CFDs cover gold, silver, oil, gas and the softs on Razor raw pricing, traded from MT4, MT5, cTrader, TradingView or Pepperstone's own web platform. There is no minimum deposit and no inactivity fee, and qualifying active traders get free VPS hosting for automated strategies. Pepperstone has held AFSL 414530 since 2013.
Average spread
EUR/USD 0.1 pips (Razor, measured)
Trading platforms
MT4, MT5, cTrader, TradingView
Minimum deposit
A$0
Regulation
ASIC AFSL 414530
Pros & Cons
- Low-cost silver and oil on MT4, MT5 and cTrader
- Suits active energy and metals traders
- Spot and futures mix across three platforms
- Range (30+) narrower than CMC or IG
- Best value on the majors rather than the long tail of softs
- Commodity depth is secondary to its forex offering
4. IC Markets: tightest raw commodity spreads
Raw spreads are the part to come back to with IC Markets. It applies its raw-pricing model to metals and energy, quoting gold, silver, oil, gas and soft commodity CFDs on the same Raw Spread account that averaged 0.11 pips on EUR/USD in our September 2026 capture. Traders get MT4, MT5 and cTrader, with execution that consistently places among the fastest we track, and support runs 24/7 on live chat. The minimum deposit is US$200 across account types, and wholesale reclassification is available for experienced traders while retail commodity leverage stays within the ASIC caps. International Capital Markets has operated under AFSL 335692 since 2009.
Average spread
EUR/USD 0.01 pips (Raw Spread, measured)
Trading platforms
MT4, MT5, cTrader, TradingView
Minimum deposit
A$200
Regulation
ASIC AFSL 335692
Pros & Cons
- Tight raw spreads on metals and energy
- Deep liquidity for scalping and day trading
- MT4, MT5 and cTrader all supported
- Range (25+) is mid-sized, focused on the headline commodities
- Raw pricing carries a commission per lot
- Fewer softs and exotics than CMC Markets
5. FP Markets: widest platform choice for commodities
Platform flexibility is what sets FP Markets apart for me. It covers gold, silver, WTI and Brent crude, natural gas and agricultural softs on its Raw and Standard accounts, with the widest platform spread of the raw brokers here: MT4, MT5, cTrader, TradingView and IRESS. Its Islamic swap-free account extends to metals and commodities, which few rivals match, and there is no inactivity fee. For traders who also want ASX exposure, the same relationship reaches share CFDs and direct equities through IRESS. The minimum deposit is A$100, and First Prudential Markets has held AFSL 286354 since 2005.
Average spread
EUR/USD 0.14 pips (Raw, measured)
Trading platforms
MT4, MT5, cTrader, IRESS, TradingView
Minimum deposit
A$100
Regulation
ASIC AFSL 286354
Pros & Cons
- Solid commodity range across MT4, MT5, cTrader and IRESS
- IRESS adds institutional-grade access
- ASIC-regulated (AFSL 286354), Sydney-headquartered
- Smallest commodity count on this page at 11
- Focused on the core metals and energy names
- Better known for share CFDs than commodities
6. Vantage: competitive energy and metals pricing
Funding ease is a genuine strength here, and that matters when speed counts. Vantage lists gold, silver, WTI and Brent crude, natural gas and soft commodities among its 1,000+ instruments, priced through the spread-only Standard STP account or the RAW account, whose per-lot commission depends on the account tier set out in the PDS. Platforms are MT4, MT5 and native TradingView plus the Vantage App. The minimum deposit is A$50, one of the lowest here, and funding is a strong suit, with PayID, BPAY, PayPal, Apple Pay and Google Pay all fee-free. Vantage Global Prime has operated under AFSL 428901 since 2012.
7. Capital.com: 30+ commodity CFDs on spread-only pricing
Simplicity without a commission ledger is what Capital.com offers. It carries 30+ commodity CFDs, spanning gold, silver, WTI and Brent crude and natural gas, within its 4,500+ instrument book. Retail pricing is markup-based with no separate commission, and guaranteed stop-loss orders are available on selected instruments through its own platform, with the premium charged only if triggered. Trading runs on WebTrader, MT4, MT5 or natively inside TradingView, support is 24/7 in ten languages, the minimum deposit is A$20, and there is no inactivity fee. ASIC issued Capital Com Australia AFSL 513393 in 2021.
8. Eightcap: raw commodity pricing with native TradingView
Algo traders should look closely at Eightcap. It prices gold, silver, oil, gas and agricultural softs on its Raw account at A$3.50 per side commission, or spread only on Standard, with a A$100 minimum deposit either way. It is one of the few brokers on this page with native TradingView execution, alongside MT4, MT5 and TradeLocker, and algo traders get free VPS hosting with the FlashTrader add-on on MT5. There is no inactivity fee, and MT5 users also get the Acuity analysis plugin. Eightcap, founded in Melbourne in 2009, has held AFSL 391441 since 2011.
9. Plus500: copper and softs on spread-only pricing
A clean, no-fuss experience is what Plus500 is built for. It suits commodity traders who want simplicity over depth: gold, silver, copper, WTI, Brent, natural gas and softs on a single spread-only account with no commission. Its WebTrader platform keeps order tickets minimal, and guaranteed stop-loss orders cap the worst case on volatile energy moves, priced through a wider spread set when the position opens. The minimum deposit is A$100 and support runs 24/7 on live chat and email. Plus500AU has held AFSL 417727 since 2012, and the parent is LSE-listed as a FTSE 250 constituent.
10. AvaTrade: spread-only commodity pricing
Gold traders, this one is worth a second look. AvaTrade rounds out the commodity list for traders who prefer spread-only pricing with no commission ledger to track. Its range covers the core markets, gold, silver, oil, natural gas and the agricultural softs, on a single retail account, and gold is where it stands out: a typical XAU/USD spread of 0.30 against a stated AU industry average of 0.35. Positions run on MT4, MT5 or the AvaTradeGO mobile app, and retail commodity leverage sits within the standard ASIC caps. The minimum deposit is A$100, though watch the fee schedule, as dormancy charges start after three months. Ava Capital Markets Australia has operated under AFSL 406684 since 2011, with AFCA membership and negative balance protection.
Which commodities you can trade as CFDs
Coverage thins fast past the majors, so check before funding. The most common in Australian retail CFD accounts are the precious metals (silver, platinum and copper), energy (crude oil, both WTI and Brent, plus natural gas), and a thinner set of agricultural softs (wheat, corn, sugar, cocoa, coffee, cotton). For a specific soft commodity, check that the broker lists it before opening, because the softs lists are thin even at the best CFD brokers in Australia. Gold has its own page and its own leverage tier; it is not covered here.
Silver CFDs (XAG/USD)
Silver (XAG/USD) is the most traded non-gold metal here and the most volatile of the precious metals, since it swings on both investment demand and industrial use. It moves faster than gold for the same news, so spreads matter more. Most ASIC brokers price it on the same accounts as gold, so if you trade silver alongside gold you will recognise the account structure immediately.
Oil CFDs (WTI and Brent)
Oil comes in two contracts that do not move identically. WTI tracks US crude and Brent tracks the global benchmark, and the gap between them shifts with supply and shipping. Oil CFDs are usually futures-based, so watch the roll and the shape of the curve; I would not hold a long oil CFD through a roll without checking the curve first, because in contango it can bleed value as contracts roll.
Natural gas and other commodity CFDs
Natural gas is the most volatile of the common energy CFDs, driven by weather and storage, and it can move several percent in a session. It suits experienced traders who understand the swings, not a first commodity to trade. Beyond gas, copper sits in the industrial-metals lane and tracks Chinese demand more than US data, so if your macro read is on Beijing, copper is where you express it.
ASIC leverage cap on commodity CFDs
For non-gold commodities, ASIC caps retail leverage at 10:1, one tier below gold, which is at 20:1 with minor FX and major indices. A A$1,000 margin controls up to A$10,000 of silver, oil or gas exposure. Professional clients can access more but give up retail protections like negative balance protection, so for most traders reading this, the cap is a guardrail, not a ceiling worth climbing past.
The cap is set by ASIC Corporations (Product Intervention Order - Contracts for Difference) Instrument 2020/986, in force since 29 March 2021 and extended to 23 May 2027. At 10:1 you fund a tenth of whatever you control. Run any size through the calculator below and it also returns the close-out level, which the instrument fixes at 50% of initial margin; that close-out number is the one you need to know before you size the trade.
Margin is not the full cost of holding the trade. Overnight financing accrues daily while a spot or cash position stays open, and futures-based contracts carry a roll cost instead. Neither is included in the figures below, so I treat the numbers in the calculator as the stake on entry, not the cost of staying in.
How commodity CFD costs work
A commodity CFD trade carries three costs: the spread (varies a lot by commodity and broker), the overnight financing on cash/spot positions (charged daily on long positions, sometimes credited on short positions), and the roll cost on futures-based positions when one contract expires and the next starts. Watch the curve shape on oil and gas; in contango, a long futures position loses ground every roll even if the spot price doesn’t move, because you are paying for time as well as direction, and on futures-based oil that roll cost can quietly eat your edge.
Tax treatment of commodity CFD profits
Commodity CFD profits are generally taxed on revenue account as ordinary income, like other CFDs, rather than as capital gains. This differs from owning a physical commodity or a commodity ETF as an investment. The treatment depends on your circumstances, so confirm with the ATO or a tax adviser.
Compare brokers by the factor that decides it
I've set up each shortlist below to re-rank the market for a single decision factor, and we tested it the same way we tested this page. I'd suggest you pick the factor that matters most to your strategy, and you can use the shortlist to compare brokers on that one thing. You won't get lost in a table of 20 columns, and you'll save time.
Start with the overall ranking
My tested, ASIC-only ranking of the best forex brokers in Australia is the baseline that every shortlist below re-ranks. I rely on it because it gives you a consistent starting point you can trust, and you can see exactly how each broker stacks up against the same benchmark. That way you're not comparing apples to oranges, and your comparisons are fair.
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.
FAQs
What commodities can I trade as CFDs in Australia?
What leverage applies to silver and oil CFDs?
Is a commodity CFD spot or futures based?
What is the difference between WTI and Brent CFDs?
Are commodity CFD profits taxed as CGT?
Related pages
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 co-founder and CEO of CompareForexBrokers.