Best Commodity CFD Brokers in Australia (2026)

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, one tier below gold. Gold has its own guide, since it trades on different drivers.

The best commodity CFD brokers right now

1. CMC Markets, widest commodity range. CMC lists the broadest set of commodity CFDs on Next Generation, from the metals to energy and softs, with strong charting. Range is the reason it leads.
2. IG Markets. Deep commodity coverage and a solid platform, strong across metals and energy.
3. Pepperstone. Low-cost silver and oil on MT4, MT5 and cTrader, which suits active energy and metals traders.
4. IC Markets. Tight raw spreads on metals and energy on deep liquidity.
5. FP Markets. A solid commodity range across platforms.
6. Vantage. Competitive energy and metals pricing on cTrader and TradingView.

Comparison table: commodity CFD brokers

Broker	Commodity CFDs (count)	Key markets	Max retail leverage	Typical spread (silver / WTI)	Spot & futures	Platform	AFSL
CMC Markets	100+	silver, WTI, Brent, natural gas, copper, softs	10:1	[0.02 / 0.03] points	Both	Next Generation	238054
IG Markets	35+	silver, WTI, Brent, natural gas, copper	10:1	[0.02 / 0.03] points	Both	IG web, L2 Dealer	515106
Pepperstone	30+	silver, WTI, Brent, natural gas	10:1	[0.02 / 0.03] points	Spot/futures mix	MT4, MT5, cTrader	414530
IC Markets	25+	silver, WTI, Brent, natural gas	10:1	[0.02 / 0.03] points	Spot/futures mix	MT4, MT5, cTrader	335692
FP Markets	11	silver, WTI, Brent, natural gas	10:1	[0.02 / 0.03] points	Spot/futures mix	MT4, MT5, cTrader, IRESS	286354
Vantage	20+	silver, WTI, Brent, natural gas	10:1	[0.02 / 0.03] points	Spot/futures mix	MT4, MT5, cTrader, TradingView	428901

ASIC caps retail leverage on non-gold commodity CFDs at 10:1 (gold separately at 20:1). Counts and spreads taken from each broker’s current Australian disclosure; re-verify before publish.

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 — and 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.

Commodity CFD brokers reviewed

CMC Markets, widest commodity range

CMC lists the broadest set of commodity CFDs on Next Generation, from the metals to energy and softs, with strong charting. Range is the reason it leads.

IG Markets

Deep commodity coverage and a solid platform, strong across metals and energy.

Pepperstone

Low-cost silver and oil on MT4, MT5 and cTrader, which suits active energy and metals traders.

IC Markets

Tight raw spreads on metals and energy on deep liquidity.

FP Markets

A solid commodity range across platforms.

Vantage

Competitive energy and metals pricing on cTrader and TradingView.

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.