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. 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 best forex brokers in Australia guide.
Quick verdict: commodity CFD brokers in Australia
CMC Markets is the best commodity CFD broker in Australia, listing 100+ commodity CFDs from metals to energy and softs, the widest range we tested. IG Markets runs it close with 35+ commodity CFDs in spot and futures form, and AvaTrade suits traders wanting downside protection through AvaProtect. ASIC caps retail commodity leverage at 10:1.
- 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.
Comparison table: commodity CFD brokers
| Broker | Commodity CFDs (count) | Key markets | Max retail leverage | Spot & futures | Platform | AFSL |
|---|---|---|---|---|---|---|
 CMC Markets | 100+ | silver, WTI, Brent, natural gas, copper, softs | 10:1 | Both | Next Generation | 238054 |
 IG Markets | 35+ | silver, WTI, Brent, natural gas, copper | 10:1 | Both | IG web, L2 Dealer | 515106 |
 Pepperstone | 30+ | silver, WTI, Brent, natural gas | 10:1 | Spot/futures mix | MT4, MT5, cTrader | 414530 |
 IC Markets | 25+ | silver, WTI, Brent, natural gas | 10:1 | Spot/futures mix | MT4, MT5, cTrader | 335692 |
 FP Markets | 11 | silver, WTI, Brent, natural gas | 10:1 | Spot/futures mix | MT4, MT5, cTrader, IRESS | 286354 |
 Vantage | 20+ | silver, WTI, Brent, natural gas | 10:1 | Spot/futures mix | MT4, MT5, TradingView | 428901 |
 Capital.com | 30+ | metals, energy, softs | 10:1 | Not disclosed | WebTrader, MT4, TradingView | 513393 |
 Eightcap | Yes | silver, oil, gas, softs | 10:1 | Not disclosed | MT4, MT5, TradingView | 391441 |
 Plus500 | Yes | silver, WTI, Brent, natural gas, copper, softs | 10:1 | Not disclosed | Plus500 WebTrader | 417727 |
 AvaTrade | Not stated | silver, oil, gas, softs | 10:1 | Not disclosed | MT4, MT5, AvaTradeGO | 406684 |
 TMGM | Not stated | silver, WTI, Brent, natural gas, softs | 10:1 | Not disclosed | MT4, MT5, TMGM App | 436416 |
ASIC caps retail leverage on non-gold commodity CFDs at 10:1 (gold separately at 20:1). Counts are taken from each broker’s current Australian disclosure and change as brokers add or drop markets.
1. CMC Markets: widest commodity range
CMC Markets earns the top spot on range: 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 2002.
CMC Markets: Widest Commodity Range
Commodity CFDs
100+
Max retail leverage
10:1
Platforms
Next Generation
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 #20 sitewide position. See how we score
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 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 if you 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$450. IG has operated in Australia since 2002, and IG Australia Pty Ltd holds AFSL 515106.
IG Markets: Deep Metals and Energy
Commodity CFDs
35+
Max retail leverage
10:1
Platforms
IG web, L2 Dealer
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
Pepperstone 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. As our top-rated broker overall, it is the strongest all-round choice on this page for traders who do not need CMC's breadth. Pepperstone has held AFSL 414530 since 2010.
Pepperstone: Lowest-Cost Commodities
Commodity CFDs
30+
Max retail leverage
10:1
Platforms
MT4, MT5, cTrader
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
IC Markets 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 0.01 pips on EUR/USD in our testing. 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 A$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 2007.
IC Markets: Tightest Raw Spreads
Commodity CFDs
25+
Max retail leverage
10:1
Platforms
MT4, MT5, cTrader
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
FP Markets 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.
FP Markets: Widest Platform Choice
Commodity CFDs
11
Max retail leverage
10:1
Platforms
MT4, MT5, cTrader, IRESS
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
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 2009.
7. Capital.com: 30+ commodity CFDs on spread-only pricing
Capital.com 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
Eightcap 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. Melbourne-founded Eightcap holds AFSL 391441, first issued in 2009.
9. Plus500: copper and softs on spread-only pricing
Plus500 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, with the premium charged only if the stop is triggered. 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
Proposed anchor slug: #10-spread-only-commodity-pricing-avatrade Link target (once section is live): #10-spread-only-commodity-pricing-avatrade
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 2014, with AFCA membership and negative balance protection.
Which commodities you can trade as CFDs
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). Coverage thins beyond metals and energy, so if you want a specific soft commodity, check the broker lists it before opening. 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.
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, because in contango a long position 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.
ASIC leverage cap on commodity CFDs
ASIC caps retail leverage on non-gold commodity CFDs at 10:1, one tier below gold (which sits 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.
How commodity CFD costs work
Three costs sit on a commodity CFD trade: 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.
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
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.
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 Strategic Head of Research for the site.