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Compare Forex Brokers Australia

Share & Stock CFD Brokers in Australia (2026)

My picks: IG Markets for range, 13,000+ share CFDs across the ASX and major global exchanges, and FP Markets for ASX share CFDs, 10,000+ through IRESS with Level 2 depth. Share and stock CFDs through ASIC-regulated brokers give ASX and US exposure, not CommSec or Stake shares. I think most of the cost hides in that difference.

Justin Grossbard, Co-Founder of CompareForexBrokers Written by Justin Grossbard (RG146) Fact-checked by David Levy Last updated:

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A share CFD lets you trade a stock’s price with leverage and without owning it, which is a different thing from buying the share, and confusing the two is the most expensive mistake here. I have watched traders carry a CFD position for months thinking they were building a portfolio, and the financing alone erased what the price move gained. For trading share CFDs in Australia, IG Markets has the widest range, FP Markets is the best route to ASX share CFDs through IRESS, and CMC Markets has the strongest platform. Retail leverage on shares is capped at 5:1 under ASIC’s Product Intervention Order, and overnight financing applies to hold a position.

Quick verdict: share CFD brokers in Australia

I put IG Markets at the top of my share CFD broker list because they give you 13,000+ share CFDs across the ASX and all the major global exchanges, which is the widest coverage I have seen. My pick for pure ASX share CFDs is FP Markets: they route 10,000+ names through IRESS with genuine Level 2 depth, and if you are trading Australian equities that is exactly what you want.

  1. IG Markets: widest share CFD range, 13,000+ markets.
  2. FP Markets: ASX share CFDs through IRESS.
  3. CMC Markets: 10,000+ share CFDs with strong charting.
  4. Pepperstone: share CFDs beside an active forex account.
  5. Plus500: cleanest beginner platform for stock CFDs.
  6. eToro: real shares and stock CFDs together.
  7. Interactive Brokers: direct market access across 33 countries.
  8. Capital.com: 3,000+ share CFDs, no commission.
  9. Totality: direct equities at institutional depth.
  10. Trading.com: low-cost share CFDs on MT5.
  11. Trading 212: 7,493 share CFDs, no published spread.

A share CFD is not the share, and the cost noticed least, the financing that accrues every night a position is held, is the one I see hurting traders most. The comparison below covers range and cost; the section after it covers the ownership difference.

How we ranked: share CFD range across ASX, US and global markets, commission model and financing cost, from live account testing. We list Trading 212 on its published figures and have not opened an account there.Full methodology ↓
Compare spreads, commission and platforms across 12 ASIC-regulated brokers, ordered by our ranking. Select a column header to re-sort. Select a broker's + for AFSL and review details.How we rank
#BrokerShare/stock CFDs (approx count)Markets (ASX / US / global)Max retail leverageCommission modelVisit brokerMore details
1#1 Top share CFD pickIG Markets logoIG Markets13,000+ASX / US / global5:1Per shareVisit IG Markets
Overnight financing
Yes
Platform
IG web, L2 Dealer, ProRealTime
Regulation
AFSL 515106ASIC-regulated, AFCA member
2FP Markets logoFP Markets10,000+ (IRESS)ASX / US / global5:1Per shareVisit FP Markets
Overnight financing
Yes
Platform
IRESS, MT5
Regulation
AFSL 286354ASIC-regulated, AFCA member
3CMC Markets logoCMC Markets10,000+ASX / US / global5:1Per share / built into spreadVisit CMC Markets
Overnight financing
Yes
Platform
Next Generation
Regulation
AFSL 238054ASIC-regulated, AFCA member
4Pepperstone logoPepperstone1,000+US / global5:1Per shareVisit Pepperstone
Overnight financing
Yes
Platform
MT5, TradingView
Regulation
AFSL 414530ASIC-regulated, AFCA member
5Plus500 logoPlus5002,500+ASX / US / global5:1Built into spreadVisit Plus500
Overnight financing
Yes
Platform
Plus500 WebTrader
Regulation
AFSL 417727ASIC-regulated, AFCA member
6eToro logoeToro2,800+ASX / US / global5:1Built into spreadVisit eToro
Overnight financing
Yes
Platform
eToro web, app
Regulation
AFSL 491139ASIC-regulated, AFCA member
7Interactive Brokers logoInteractive Brokers8,000+ (underlying access)ASX / US / global5:1 (CFD); underlying differsPer shareVisit Interactive Brokers
Overnight financing
Varies
Platform
Trader Workstation, GlobalTrader
Regulation
AFSL 453554ASIC-regulated, AFCA member
8Capital.com logoCapital.com3,000+ASX / US / global5:1Built into spreadVisit Capital.com
Overnight financing
Yes
Platform
Capital.com WebTrader
Regulation
AFSL 513393ASIC-regulated, AFCA member
9Totality logoTotalityDirect equities (DMA), count not confirmedASX / US / global5:1 (CFD); underlying differsTiered, confirm PDSVisit Totality
Overnight financing
Yes (CFDs)
Platform
Totality Edge, Totality Apex
Regulation
AFSL 280372ASIC-regulated, AFCA member
10ThinkMarkets logoThinkMarkets3,500+ASX / US / global5:1Built into spreadVisit ThinkMarkets
Overnight financing
Yes
Platform
MT4, ThinkTrader, TradingView
Regulation
AFSL 424700ASIC-regulated, AFCA member
11trading.com logoTrading.comNot statedNot stated5:1Built into spreadVisit trading.com
Overnight financing
Yes
Platform
MT5
Regulation
AFSL 443670ASIC-regulated, AFCA member
12Trading 212 logoTrading 2127,493 (plus 1,420 ETF CFDs)Not stated5:1Zero commissionVisit Trading 212
Overnight financing
Yes
Platform
Trading 212 app and web
Regulation
AFSL 541122ASIC-regulated, AFCA member

Under ASIC rules, retail leverage on single-name share CFDs is capped at 5:1. Counts and pricing are taken from each broker’s current Australian disclosure and change over time. The Trading 212 counts come from its published global instrument list, read on 6 August 2026 with the entries its Australian entity cannot offer removed.

The displayed number on each card is a Share CFD Fit Score out of 100, weighted on range, ASX depth, platform quality and AU-specific execution. It is the page’s ranking metric, not the broker’s overall site score, and I built it to answer which broker fits share CFD trading as a whole, not which one wins on a single column; it decreases monotonically with rank.

My risk warning to you is straightforward: CFDs are leveraged products and carry a high risk of loss. Most retail CFD accounts lose money, so I want you to review the broker's PDS and TMD before you trade.

1. IG Markets: widest share CFD range

IG Markets lists 13,000+ share CFDs across the ASX, NYSE, NASDAQ, LSE and the EU and Asian exchanges, the largest share CFD count on this page. For breadth alone it is the default answer, and for a single account that covers almost any stock a trader reads about, this is where I would start. Commission on Australian share CFDs starts from A$10 per trade or 0.10% of value, US shares from $15 or 2 cents per share, and a separate Share Investing account covers outright ASX and international ownership. Overnight financing on AUD longs runs at the RBA cash rate plus 2.5%, above the AU market average, so you need to plan the hold period before you open the position. The minimum deposit is A$100 by card (A$10 by BPAY), and IG Australia Pty Ltd holds AFSL 515106.

πŸ† Widest Share CFD Range
96/100 Share CFD Fit Score
77/100i #14 of 32 Overall 2026 Score

IG Markets review

Average spread

EUR/USD 0.16 pips (Forex Direct, measured)

Trading platforms

IG web, L2 Dealer, ProRealTime, MT4, TradingView

Minimum deposit

A$100

Regulation

ASIC AFSL 515106

Why higher here? Share CFD Fit weights share CFD range and market access, which lifts IG Markets above its #14 sitewide position. See the ranking method ↓

Pros & Cons
  • Widest share CFD range on this page, 13,000+ across the ASX and major global exchanges
  • One account covers Australian and overseas stocks, no need to run two brokers
  • ASIC AFSL 515106, current since 2 June 2020 (IG Australia Pty Ltd), with an LSE-listed parent
  • All-in cost sits mid-pack on share CFDs, so range is the reason to pick it, not price
  • Per-share commission plus overnight financing on positions held past the day
  • Platform depth (L2 Dealer, ProRealTime) is more than a casual share trader needs

2. FP Markets: best route to ASX share CFDs through IRESS

FP Markets pairs 10,000+ share CFDs with the only direct market access to ASX-listed equities through IRESS in our coverage, with brokerage from A$10 per trade or 0.10% of value on the retail tier. For trading Australian stocks with Level 2 depth rather than a price feed you have to trust, this is the row that delivers it, and I would call it the best route for ASX depth. Share CFD trading runs on MT4, MT5, cTrader and TradingView, the IRESS account carries a A$1,000 minimum against A$100 for CFD accounts, so you can start small on the CFD side while IRESS demands a higher commitment, and there is no inactivity fee. Mobile apps cover MT4, MT5, cTrader, IRESS and TradingView on iOS and Android. First Prudential Markets has held AFSL 286354 since 2005.

πŸ† Best For ASX Share CFDs
94/100 Share CFD Fit Score
86/100i #6 of 32 Overall 2026 Score

FP Markets review

Average spread

EUR/USD 0.14 pips (Raw, measured)

Trading platforms

IRESS, MT5, TradingView

Minimum deposit

A$100

Regulation

ASIC AFSL 286354

Why higher here? Share CFD Fit weights share CFD range and market access, which lifts FP Markets above its #6 sitewide position. See the ranking method ↓

Pros & Cons
  • ASX share CFDs routed through IRESS with genuine Level 2 depth MetaTrader brokers cannot show
  • 10,000+ names via IRESS, the strongest AU route for local single-stock depth
  • ASIC-regulated since 2005 (AFSL 286354), Sydney-headquartered
  • IRESS is built for ASX focus, less compelling if you mainly trade US giants
  • Per-share commission plus overnight financing apply to positions held overnight
  • A$100 minimum deposit, higher than the zero-deposit brokers on this page

3. CMC Markets: deep range plus Next Generation charting

CMC Markets covers 10,000+ share CFDs across the ASX, NYSE, NASDAQ, LSE and EU exchanges on Next Generation, with ASX coverage among the deepest of any AU broker. The linked CMC Invest service adds direct investing in 40,000+ shares and ETFs across 16 markets under its own AFSL 246381, including A$0 brokerage on a first daily ASX buy under A$1,000 per security. That combination, deep CFD coverage and a cheap direct-investing leg under one roof, is what sets it apart from the rows around it. I would call it the strongest single-provider pairing on the page if you want both in one login. The CFD account has no minimum deposit, so you can start with whatever you have, and pattern recognition scanning and client sentiment data round out the platform. CMC Markets Asia Pacific has held AFSL 238054 since 2004.

πŸ† Deep Range + Charting
92/100 Share CFD Fit Score
68/100i #21 of 32 Overall 2026 Score

CMC Markets review

Average spread

EUR/USD 0.5 pips (Standard, advertised)

Trading platforms

Next Generation, MT4, TradingView

Minimum deposit

A$0

Regulation

ASIC AFSL 238054

Why higher here? Share CFD Fit weights share CFD range and market access, which lifts CMC Markets above its #21 sitewide position. See the ranking method ↓

Pros & Cons
  • Deep share CFD range (10,000+) with the strongest charting on Next Generation
  • Analysis tools suit traders who want research alongside breadth
  • ASIC-regulated since 2004 (AFSL 238054) with an LSE-listed parent
  • Mid-pack all-in cost, you pay for the platform features
  • Commission or spread markup plus overnight financing depending on the market
  • Next Generation is proprietary, no MT5 or cTrader for share CFDs

4. Pepperstone: share CFDs alongside an active forex account

Pepperstone keeps share CFDs tighter than the range leaders, around 1,200 names across the ASX, NYSE, NASDAQ, LSE and EU exchanges, with no direct share investing, so you get a focused trading stack without the distraction of a stockbroking interface. What it offers instead is its trading stack: MT4, MT5, cTrader, TradingView and its own web platform on one login, raw pricing, no minimum deposit and no inactivity fee. For anyone who wants a share CFD sleeve inside an active multi-asset account rather than a stockbroking replacement, it fits well, I would say. When your main game is forex and share positions appear only when a setup does, this is the cleanest way to do it without opening a second account. Pepperstone has held AFSL 414530 since 2013.

πŸ† Share CFDs + Forex
88/100 Share CFD Fit Score
98/100i #1 of 32 Overall 2026 Score

Pepperstone review

Average spread

EUR/USD 0.1 pips (Razor, measured)

Trading platforms

MT5, TradingView

Minimum deposit

A$0

Regulation

ASIC AFSL 414530

Why lower here? Share CFD Fit weights share CFD range and market access rather than the all-round strengths behind Pepperstone's #1 sitewide position. See the ranking method ↓

Pros & Cons
  • Share CFDs on MT5 and TradingView, convenient beside an active forex account
  • Zero minimum deposit and top-tier execution carried over from the forex book
  • ASIC-regulated since 2013 (AFSL 414530), Melbourne-founded
  • Range is narrower (about 1,000+, US and global focus) than CMC, IG or FP Markets
  • No native ASX single-stock depth, this is a forex-first account adding equities
  • Better suited to forex traders adding stocks than to dedicated share specialists

5. Plus500: cleanest beginner platform for single-stock CFDs

Plus500 carries roughly 2,000 share CFDs across the ASX, NYSE, NASDAQ, LSE and major European exchanges, traded spread only on its WebTrader platform. Guaranteed stop-loss orders are available, priced through a wider spread set when the position opens, giving leveraged share positions a known worst case, and the single-account structure keeps administration minimal. I would point a first-time share CFD trader here, and if you are starting out, this is the platform that removes complexity rather than celebrating it. The minimum deposit is A$100, and the demo account is free and unlimited, so you can test the platform with no risk, with sign-up starting from just an email address. Plus500AU has held AFSL 417727 since 2012, with an LSE-listed parent.

πŸ† Cleanest Beginner Platform
84/100 Share CFD Fit Score
75/100i #16 of 32 Overall 2026 Score

Plus500 review

Trading platforms

Plus500 WebTrader, app

Minimum deposit

A$100

Regulation

ASIC AFSL 417727

Why higher here? Share CFD Fit weights share CFD range and market access, which lifts Plus500 above its #16 sitewide position. See the ranking method ↓

Pros & Cons
  • Cleanest entry point for a beginner, 2,500+ share CFDs on a simple interface
  • Guaranteed stops available on request, capping downside on volatile single stocks
  • Costs built into the spread, no separate per-share commission to model
  • Own WebTrader only, no MT4, MT5, cTrader or TradingView
  • Spread-only pricing can work out dearer than commission accounts on larger size
  • Range sits below IG, FP Markets and CMC for serious breadth

6. eToro: real shares plus stock CFDs on the same platform

eToro splits its share offering two ways: 3,000+ real shares across the NYSE, NASDAQ, LSE, European exchanges and the ASX at a flat US$2 per trade, and share CFDs on the same universe where leverage or short selling is wanted. Real holdings sit inside a registered managed investment scheme run by eToro Asset Management Limited, so the client holds a beneficial interest rather than a direct entry on the share register. The account defaults to USD, so unless you hold an eligible AUD account, every AUD deposit, withdrawal and ASX trade carries a conversion cost you need to budget for. That cost is easy to miss when the position is opened and impossible to ignore when it is closed, and it is the reason I keep this row lower than the pure-CFD names above. The minimum deposit is US$50, and eToro AUS Capital has held AFSL 491139 since 2017.

πŸ† Real Shares + Stock CFDs
80/100 Share CFD Fit Score
50/100i #29 of 32 Overall 2026 Score

eToro review

Average spread

EUR/USD 1 pips (Standard, advertised)

Trading platforms

eToro web, app

Minimum deposit

US$50

Regulation

ASIC AFSL 491139

Why higher here? Share CFD Fit weights share CFD range and market access, which lifts eToro above its #29 sitewide position. See the ranking method ↓

Pros & Cons
  • Real share investing and stock CFDs from one interface, plus the social and copy layer
  • 2,800+ instruments across ASX, US and global markets
  • Costs built into the spread, no separate commission on CFD positions
  • Easy to confuse the CFD and the real share, which differ on leverage, tax and dividends
  • Shorter ASIC history (AFSL 491139 since 2017) than the incumbents above
  • Social and copy features add clutter if you only want to trade single stocks

7. Interactive Brokers: direct market access for advanced traders

Interactive Brokers treats share CFDs as one tool in a much larger kit, ideal if you already know your way around a professional-grade platform and want share CFDs as one slice of a multi-asset account. Single-stock and index CFDs sit beside direct share dealing on 150+ markets across 33 countries, where it is the cheapest ASX and US stockbroker on our site for active traders: ASX trades from about A$6, US shares from US$0.005 per share with a US$1 minimum. Multi-currency accounts hold AUD alongside 20+ other currencies without forced conversion. There is no minimum deposit, and Interactive Brokers Australia has held AFSL 453554 since 2016.

πŸ† DMA For Advanced
78/100 Share CFD Fit Score
88/100i #5 of 32 Overall 2026 Score

Interactive Brokers review

Trading platforms

Trader Workstation, IBKR Mobile, GlobalTrader, native TradingView

Minimum deposit

A$0

Regulation

ASIC AFSL 453554

Pros & Cons
  • Direct market access to global equities across dozens of markets for advanced traders
  • Where it offers the underlying share, execution and protections differ from a CFD
  • ASIC-regulated (AFSL 453554) with a NASDAQ-listed parent
  • Instrument type varies, so check whether you are trading a CFD or the underlying
  • Trader Workstation is powerful but steep for a casual share-CFD trader
  • Aimed at active and professional traders rather than beginners

8. Capital.com: 3,000+ share CFDs with no commission

Capital.com offers 3,000+ share CFDs across the ASX, NYSE, NASDAQ, LSE and EU exchanges, priced into the spread with no separate commission, plus thematic baskets that group stocks by theme such as AI and EVs. There is no direct share ownership, CFDs only. Trading runs on WebTrader, MT4, MT5 or natively inside TradingView, the minimum deposit is A$20, and support is 24/7 with chat answers around 90 seconds, so you can reach help quickly even on weekends. I would call that response time competitive for a pure-CFD broker, and if you need help at odd hours, it is a real advantage. ASIC issued Capital Com Australia AFSL 513393 in 2021.

πŸ† 3,000+ Share CFDs, No Commission
74/100 Share CFD Fit Score
82/100i #7 of 32 Overall 2026 Score

Capital.com review

Average spread

EUR/USD 0.7 pips (Standard, advertised)

Trading platforms

Capital.com WebTrader (share CFDs), MT4, MT5, TradingView

Minimum deposit

A$20

Regulation

ASIC AFSL 513393

Pros & Cons
  • 3,000+ share CFDs across ASX, US and global, priced spread-only with no per-share commission
  • Thematic baskets take a sector view in one position, plus 250+ ETF CFDs
  • ASIC-regulated since 2021 (AFSL 513393), A$20 minimum deposit
  • Every instrument is a CFD with no direct ASX investing route
  • CFD-only access keeps its Share CFD Fit below the DMA-capable brokers above
  • Share CFDs trade on the Capital.com WebTrader, not on MT4, MT5 or TradingView

9. Totality: direct equities at institutional depth

Totality, the rebranded successor to Saxo Capital Markets Australia, is on this page for real share dealing rather than CFDs because of its reported direct access to 23,000+ stocks across the ASX, NYSE, NASDAQ, LSE and EU and Asian exchanges, carried over from the Saxo offering it inherits. You can open the account on a A$0 minimum, with pricing tiered as Classic and First by qualification rather than by a fixed entry deposit. AFSL 280372 has been current since 7 December 2004 and carried unbroken through the August 2025 rebrand. I am keeping this row here because the reported direct-equity depth is material, but the track record under the Totality name is short and the rates it publishes are advertised rather than measured by us, so I would pin down the current PDS before you fund anything.

πŸ† DMA Equities At Institutional Depth
72/100 Share CFD Fit Score
69/100i #20 of 32 Overall 2026 Score

Totality review

Trading platforms

Totality Edge (web), Totality Apex (desktop)

Minimum deposit

A$0

Regulation

ASIC AFSL 280372

Why higher here? Share CFD Fit weights share CFD range and market access, which lifts Totality above its #20 sitewide position. See the ranking method ↓

Pros & Cons
  • Direct market access to global equities and options, closer to IBKR than the pure CFD names
  • ASIC-regulated successor to Saxo Capital Markets (AFSL 280372), zero minimum deposit
  • Premium multi-asset range for traders who want the underlying, not just CFDs
  • Much of the range is the underlying instrument, not a share CFD, so confirm the product
  • Classic and First pricing tiers mean you should check the current PDS fee schedule
  • Short track record under the new Totality brand, which is why it sits at the foot of the list

10. Trading.com: low-cost MT5 share CFDs

πŸ† Low-Cost Mt5 Share Cfds
70/100 Share CFD Fit Score
70/100i #19 of 32 Overall 2026 Score

trading.com review

Trading platforms

MT5, Trading.com WebTrader

Minimum deposit

A$50

Regulation

ASIC AFSL 443670

Pros & Cons
  • ASIC AFSL 443670 with negative balance protection mandatory under ASIC rules
  • MT5 plus the proprietary Trading.com WebTrader with TradingView charts embedded
  • Low minimum deposit of AUD 50
  • Lower brand recognition than top-tier AU brokers (CMC, IG, Pepperstone, IC Markets)
  • Product range narrower than multi-asset specialists like CMC and IG
  • Spread-only pricing, advertised from 0.8 pips on EUR/USD, trails the lowest-cost RAW brokers, with no raw or commission account option
Broker's Detail

Trading.com is the low-cost MetaTrader route into share CFDs. The single spread-only Trading Account opens from an A$50 minimum deposit, among the lowest on our ASIC-regulated shortlist, and runs on MT5 or the broker's own WebTrader, which carries TradingView charts embedded in the browser. MT4 is not offered. The share CFD range is narrower than CMC's or IG's, a fair trade for the entry cost, and cryptocurrency CFDs are not available to Australian clients. I would flag that narrow range as the main constraint you will face if you want broad market coverage. Funding is fee-free across Visa, Mastercard, PayID, BPAY and bank transfer, and support runs 24/7 including weekends. Trading.com Markets Pty Ltd, part of the Trading Point Group, holds ASIC AFSL 443670 and is an AFCA member.

11. Trading 212: share CFDs beside real share ownership

Trading 212 counts 7,493 share CFDs and 1,420 ETF CFDs for Australian clients, fifth widest of the counts stated on this page, and charges no commission on any of them. What sets it apart from the rows above is the second account, which I would call a standout feature: you can use it to hold real shares alongside your CFDs. Invest holds real shares and ETFs rather than contracts, and fractional entitlements there carry pro-rata dividends and voting. Both accounts run inside the same app. Trading 212 AU Pty Ltd has held ASIC AFSL 541122 since 17 August 2023, and uninvested Australian dollars earn 5.2% APY paid daily.

Pricing is where it falls down, I would say, and it is the reason this row sits where it does. No spread is published for any instrument outside the app, so you cannot cost a share CFD position before you open the account, which is why this row carries no pricing figure and why the score sits at 68. Invest orders are also executed offshore, by Trading 212 Markets (Ireland) Limited under clause 1.3 of the Australian Invest Terms, so a reader who wants direct ASX ownership through an Australian entity is better served by CMC Markets or Interactive Brokers above.

Share CFDs vs buying shares

A share CFD tracks the price of a stock so you can go long or short with leverage, but the share is never owned, financing is paid to hold it overnight, and no franking credits are received. Mitrade offers share CFDs on selected US, Australian, UK and Hong Kong names, with no direct share ownership on the platform. For outright ASX share ownership rather than CFD trading, CMC Markets vs IG compares their CHESS-sponsored and custodial share-investing models. Buying the share through a broker like CommSec or Stake gives you ownership, dividends, franking credits and no financing cost, but no leverage and no easy way to short. CFDs suit short-term trading and hedging, I would say; owning shares suits long-term investing. This page is about the CFD.

Attribute, 7 rows.
AttributeShare CFDBuying the share
OwnershipNoYes
LeverageUp to 5:1None
Short sellingYes, directlyHard for retail
DividendsCash adjustment onlyReal dividend
Franking creditsNoYes (Australian shares)
Overnight costYes (financing)None
Time horizonShort-termLong-term

ASIC leverage cap on share CFDs

The 5:1 retail leverage cap on share CFDs comes from ASIC’s product intervention order, the lowest tier alongside other single-name underlyings. A A$1,000 margin controls up to A$5,000 of share exposure, so your capital is tied up more than on forex. This is deliberately conservative because single stocks can gap hard on news. Because a 5:1 cap ties up more margin per dollar of exposure, the forex position size calculator helps you set a share CFD lot from the risk a trader will take. Professional clients can access more but lose retail protections like negative balance protection and AFCA recourse.

The tier 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. A 5:1 cap means 20% of the position value has to be funded before the trade opens, six times what the 30:1 major forex tier ties up. The calculator below gives that figure for any size, with the close-out level the instrument fixes at 50% of initial margin.

Financing is a separate line, and the one I see catching people who treat a share CFD like a portfolio holding. A share CFD held overnight accrues a daily charge, and dividend adjustments are debited or credited around the ex-date. Neither is included below.

Share CFD margin calculator

Margin and close-out level on a share CFD at the ASIC cap

Instrument classShares and other assets
ASIC retail cap5:1
Margin rate20%

ASIC Corporations (Product Intervention Order - Contracts for Difference) Instrument 2020/986, in force 29 March 2021, extended to 23 May 2027

A$10,000.00 of exposure needs A$2,000.00 of initial margin at the ASIC 5:1 cap, and your broker must start closing the position once the margin behind it falls to A$1,000.00.

A$2,000.00

initial margin required

  • Position valueA$10,000.00
  • ASIC leverage cap, shares and other assets5:1
  • Margin rate20%
  • Close-out level (50% of initial margin)A$1,000.00

ASX vs US and global share CFDs

ASX share CFDs are the local lens: trading Australian companies in AUD during Sydney hours, with the same earnings cycle and ASX-specific events (dividends, capital raises, takeover bids) that affect the underlying. FP Markets through IRESS is the strongest route here, and the same broker is the ASX share CFD pick in our ranking of the best CFD brokers in Australia. Fortrade carries 19 Australian share CFDs, including Commonwealth Bank, ANZ, CSL, Macquarie, Coles and Aristocrat.

US share CFDs let a trader access US-listed names overnight (Sydney time), with the depth and liquidity of the largest equity market in the world, but currency conversion applies on every trade since they price in USD. IG and CMC have the broadest US ranges.

Global share CFDs (UK, European, Asian) round out the offering for traders who want a single account covering more than one market. IG leads on geographic spread.

How share CFD costs work

Three costs sit on a share CFD trade: the spread or commission (small for liquid names, wider for small-caps), the overnight financing on positions held past rollover (charged daily on long positions, sometimes credited on short positions when rates are positive), and a currency conversion on non-AUD share CFDs when the account base is AUD.

For a long position held more than a few days, financing usually exceeds the entry cost, which is why share CFDs suit short holds rather than long ones. The financing maths for the planned hold should be run before opening. The calculate trade profit and loss tool nets the price move against financing for the hold a trader plans.

Tax treatment of share CFD profits

Share CFD profits are generally taxed on revenue account as ordinary income, like other CFDs, rather than as capital gains. Franking credits are not received because the share is not owned. Losses can usually be deducted against income. This is different from owning the share through a broker like CommSec, where dividends carry franking credits and disposals are usually a CGT event. The treatment depends on individual circumstances, so confirmation with the ATO or a tax adviser is needed before relying on it.

When a share CFD beats buying the share, and when it does not

A share CFD beats buying the share when short-term exposure, the ability to short, or leverage to hedge an existing holding is wanted, and the financing cost and the loss of franking are accepted. Buying the share beats the CFD when long-term ownership, dividends and franking credits are the goal, and leverage or overnight financing eating returns is not wanted. Many investors use both for different jobs. For anyone still choosing a broker, our highest-rated forex brokers in Australia guide ranks every ASIC name on overall value.

I have built each shortlist below to re-rank the market for one decision factor, tested the same way our team tested this page. If you are trying to solve a specific problem, one of them will give you the answer faster than working through the full comparison again.

Checkmark icon for the overall best forex brokers ranking

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. I keep the comparison anchored to that list so you are always working from the same set of brokers I have already verified.

Trading monitor icon for matching a CFD trading platform

The platform decides it

Rankings change once the trading software is fixed. Pick yours first, then compare.

Dollar coin icon for pricing full CFD trading costs

Cost decides it

Account types price the same trade differently. These shortlists rank by total cost.

Play button icon for testing a CFD demo account

You're starting out

Simpler platforms, stronger education, and demo accounts with no time pressure.

Rising chart icon for strategy-based broker shortlists

Your strategy decides it

Execution speed, copy functionality and EA support separate these shortlists.

FAQs

What is a share CFD?
A share CFD is a tool for trading a view on price, not a proxy for holding the company: a contract that tracks a stock's price with leverage, letting you go long or short without ownership. You get no shareholder rights or franking credits, only cash dividend adjustments, minus spread, commission and financing. Keep that distinction in mind as you read every broker row below.
Are share CFDs the same as buying shares?
No. A share CFD tracks the price with leverage and no ownership, and you pay financing to hold it; buying the share gives ownership, dividends and franking credits, with no leverage. CFDs suit short-term trading, but I often see traders confuse the two when a leveraged position they meant to hold for three days turns into an unplanned long-term punt with financing piling up. Owning shares suits investing.
What leverage can I use on share CFDs in Australia?
ASIC caps retail leverage on share CFDs at 5:1. A A$1,000 margin controls up to A$5,000 of exposure. The cap is conservative because single stocks can gap hard on news. Professional clients can access more but lose retail protections, and for most traders reading this page that is a trade I would not make lightly.
Can I trade ASX share CFDs?
Yes, several ASIC brokers offer ASX share CFDs. FP Markets through IRESS gives Level 2 depth on Australian stocks, but range varies. If you want specific small or mid-cap names, check the broker lists them before opening an account; that five-minute check is worth it, because assuming a name is there and finding it missing after you fund the account is a frustration you can skip entirely.
Do I get franking credits or dividends on a share CFD?
No. You get no franking credits on a share CFD. When you hold a stock long, the broker credits a cash dividend adjustment, and debits it if you are short, but the franking credits from ownership never reach you, and for an Australian investor used to dividend season, that lost credit is the single biggest cost difference between the CFD and the share, invisible on a quote screen.

About the author

Justin Grossbard headshot

Justin Grossbard

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.

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