Best Index CFD Brokers in Australia (2026)

An index CFD lets you trade a whole market, like the ASX 200 or US 500, in one position rather than buying every stock in it. For index CFDs in Australia, IG Markets has the widest range, CMC Markets has the strongest platform, and Pepperstone is cheapest on the majors. Major indices are capped at 20:1 leverage for retail clients and minor indices at 10:1, and there is a real difference between cash and futures index CFDs that changes your cost.

The best index CFD brokers right now

1. IG Markets, widest index range. IG lists the broadest set of index CFDs I found, covering the ASX 200, the major US and European indices and a long tail of smaller markets, in both cash and futures form. Range is the reason it leads.
2. CMC Markets. Strong index coverage on Next Generation with excellent charting; my pick if you analyse indices technically.
3. Pepperstone. Low-cost major indices across MT4, MT5 and cTrader, which suits active traders focused on the ASX 200 and US 500.
4. IC Markets. Tight raw spreads on the major indices on deep liquidity.
5. Vantage. Competitive index pricing across cTrader and TradingView.
6. Eightcap. Solid major-index coverage paired with cTrader.

Comparison table: index CFD brokers

Broker	Index CFDs (count)	Key indices	Max retail leverage	Typical spread (US 500 / ASX 200)	Cash & futures	Platform	AFSL
IG Markets	80+	ASX 200, US 500, US Tech 100, UK 100, GER 40	20:1 major / 10:1 minor	[0.4 / 1.0] points	Both	IG web, L2 Dealer	515106
CMC Markets	80+	ASX 200, US 500, US Tech 100, UK 100, GER 40	20:1 / 10:1	[0.5 / 1.0] points	Both	Next Generation	238054
Pepperstone	25+	ASX 200, US 500, US Tech 100, UK 100, GER 40	20:1 / 10:1	[0.4 / 1.0] points	Cash	MT4, MT5, cTrader, TradingView	414530
IC Markets	25+	ASX 200, US 500, US Tech 100	20:1 / 10:1	[0.4 / 1.0] points	Cash	MT4, MT5, cTrader	335692
Vantage	20+	ASX 200, US 500, US Tech 100	20:1 / 10:1	[0.5 / 1.2] points	Cash	MT4, MT5, cTrader, TradingView	428901
Eightcap	20+	ASX 200, US 500, US Tech 100	20:1 / 10:1	[0.5 / 1.2] points	Cash	MT4, MT5, cTrader	391441

ASIC caps retail leverage at 20:1 on major equity indices and 10:1 on minor indices. Index lists and spreads taken from each broker’s current Australian disclosure; re-verify before publish.

What an index CFD tracks

An index CFD tracks the level of a stock-market index, like the ASX 200 or US 500, in a single position. You gain or lose as the index moves, without buying the underlying shares. You can go long or short with leverage. Your result is the index move times your position size, minus costs.

Cash vs futures index CFDs

A cash index CFD tracks the spot level of an index and has no expiry, so you can hold it as long as you like, but you pay overnight financing each night you hold it. A futures index CFD tracks a specific futures contract, has an expiry date, and builds the financing cost into the price rather than charging it nightly. Cash suits short holds and day trading; futures can suit longer positions where nightly financing would add up. Check which one your broker is quoting.

ASIC leverage caps on index CFDs

The major indices (ASX 200, US 500, US Tech 100, UK 100, Germany 40 and a handful of others) carry a 20:1 retail cap. So a A$1,000 margin controls up to A$20,000 of major-index exposure. Smaller or less liquid indices sit in the 10:1 minor tier. Brokers apply these tiers, so the leverage you get depends on which index you are trading. Professional clients can access higher leverage but give up retail protections.

Index CFD brokers reviewed

IG Markets, widest index range

IG lists the broadest set of index CFDs on this list, covering the ASX 200, US 500, US Tech 100, UK 100, Germany 40, and a long tail of smaller markets including emerging-market indices, in both cash and futures form. Range is the reason IG leads. Spreads are competitive on the majors, and futures versions of the larger indices let you carry positions without nightly financing.

CMC Markets

CMC Markets pairs a strong index range with Next Generation, which I rate as the best charting platform of the group. My pick if you analyse indices technically rather than just trading the headlines. Cost sits in the middle of the pack on the majors.

Pepperstone

Pepperstone runs low-cost major indices across MT4, MT5, cTrader and TradingView, which suits active traders focused on the ASX 200 and US 500. Range is narrower than IG or CMC, but if you only need the headline indices, the cost wins.

IC Markets

Tight raw spreads on the major indices on deep liquidity, on MT4, MT5 and cTrader. Suits scalpers and day traders running the S&P 500 or Nasdaq through the New York session.

Vantage

Competitive index pricing across cTrader and TradingView, with a moderate range that covers the headline names without going as deep as IG.

Eightcap

Solid major-index coverage paired with cTrader, which works well for traders who prefer Spotware’s order entry to MetaTrader’s.

The ASX 200 in an Australian context

The ASX 200 is the index every Australian retail trader knows. Trading it as a CFD means AUD-denominated exposure during Sydney hours (10am to 4pm AEST), with quarterly rebalances and the same dividend events that drive the underlying stocks. Spreads tighten in the Sydney open and widen at the close.

The local-trader angle is real: AU brokers tend to price the ASX 200 more competitively than offshore brokers, because their AU client base trades it heavily.

How index CFD costs work

Three costs sit on an index CFD trade: the spread (typically tight on the majors, wider on smaller indices), the overnight financing on cash index CFDs (charged daily on long positions), and any commission your broker charges (most index CFDs are spread-only). Futures index CFDs do not carry nightly financing but build the carry cost into the futures price.

Tax treatment of index CFD profits

Index CFD profits are generally taxed on revenue account as ordinary income, like other CFDs, rather than as capital gains. This differs from owning an index ETF as an investment, which is usually a CGT event on sale. The treatment depends on your circumstances, so confirm with the ATO or a tax adviser.