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. 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, and you pay overnight financing to hold a position.
Quick verdict: share CFD brokers in Australia
IG Markets is the best share CFD broker in Australia, with 13,000+ share CFDs across the ASX and the major global exchanges. FP Markets is the pick for ASX share CFDs, routing 10,000+ names through IRESS with genuine Level 2 depth. Retail share CFD leverage is capped at 5:1 under ASIC's Product Intervention Order.
- IG Markets: widest share CFD range, 13,000+ markets.
- FP Markets: ASX share CFDs through IRESS.
- CMC Markets: 10,000+ share CFDs with strong charting.
- Pepperstone: share CFDs beside an active forex account.
- Plus500: cleanest beginner platform for stock CFDs.
- eToro: real shares and stock CFDs together.
- Interactive Brokers: direct market access across 33 countries.
- Capital.com: 3,000+ share CFDs, no commission.
- Totality: direct equities at institutional depth.
- Trading.com: low-cost share CFDs on MT5.
A share CFD is not the share. The comparison below covers range and cost; the section after it covers the ownership difference.
| Broker | Share/stock CFDs (approx count) | Markets (ASX / US / global) | Max retail leverage | Commission model | Overnight financing | Platform | AFSL |
|---|---|---|---|---|---|---|---|
 IG Markets | 13,000+ | ASX / US / global | 5:1 | Per share | Yes | IG web, L2 Dealer, ProRealTime | 515106 |
 FP Markets | 10,000+ (IRESS) | ASX / US / global | 5:1 | Per share | Yes | IRESS, MT5 | 286354 |
 CMC Markets | 10,000+ | ASX / US / global | 5:1 | Per share / built into spread | Yes | Next Generation | 238054 |
 Pepperstone | 1,000+ | US / global | 5:1 | Per share | Yes | MT5, TradingView | 414530 |
 Plus500 | 2,500+ | ASX / US / global | 5:1 | Built into spread | Yes | Plus500 WebTrader | 417727 |
 eToro | 2,800+ | ASX / US / global | 5:1 | Built into spread | Yes | eToro web, app | 491139 |
 Interactive Brokers | 8,000+ (underlying access) | ASX / US / global | 5:1 (CFD); underlying differs | Per share | Varies | Trader Workstation, GlobalTrader | 453554 |
 Capital.com | 3,000+ | ASX / US / global | 5:1 | Built into spread | Yes | Capital.com WebTrader | 513393 |
 Totality | Direct equities (DMA), count not confirmed | ASX / US / global | 5:1 (CFD); underlying differs | Tiered, confirm PDS | Yes (CFDs) | Totality Edge, Totality Apex | 280372 |
 ThinkMarkets | 3,500+ | ASX / US / global | 5:1 | Built into spread | Yes | MT4, MT5, ThinkTrader | 424700 |
 Trading.com | Not stated | Not stated | 5:1 | Built into spread | Yes | MT5 | 443670 |
ASIC caps retail leverage on single-name share CFDs at 5:1. Counts and pricing are taken from each broker’s current Australian disclosure and change over time.
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 decreases monotonically with rank.
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. 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. The minimum deposit is A$450, and IG Australia Pty Ltd holds AFSL 515106.
IG Markets: Widest Share CFD Range
Share CFDs (count)
13,000+ across ASX, US, global
Trading Platforms
IG web, L2 Dealer, ProRealTime, MT4
Minimum Deposit
$0
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-regulated since 2002 (AFSL 515106) 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. 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, 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.
FP Markets: Best For ASX Share CFDs
Share CFDs (count)
10,000+ via IRESS
Trading Platforms
IRESS, MT5
Minimum Deposit
$100
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. The CFD account has no minimum deposit, and pattern recognition scanning and client sentiment data round out the platform. CMC Markets Asia Pacific has held AFSL 238054 since 2002.
CMC Markets: Deep Range + Charting
Share CFDs (count)
10,000+ across ASX, US, global
Trading Platforms
Next Generation, MT4
Minimum Deposit
$0
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 2002 (AFSL 238054) with an ASX-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. 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 traders who want a share CFD sleeve inside an active multi-asset account rather than a stockbroking replacement, it fits well. Pepperstone has held AFSL 414530 since 2010.
Pepperstone: Share CFDs + Forex
Share CFDs (count)
1,000+ (US / global focus)
Trading Platforms
MT5, TradingView
Minimum Deposit
$0
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 2010 (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 with the premium charged only if triggered, giving leveraged share positions a known worst case, and the single-account structure keeps administration minimal. The minimum deposit is A$100, and the demo account is free and unlimited, with sign-up starting from just an email address. Plus500AU has held AFSL 417727 since 2012, with an LSE-listed parent.
Plus500: Cleanest Beginner Platform
Share CFDs (count)
2,500+ across ASX, US, global
Trading Platforms
Plus500 WebTrader, app
Minimum Deposit
$100
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. Dividends and voting rights attach to the real holdings. The account is USD-denominated, so every AUD deposit, withdrawal and ASX trade carries a conversion cost worth budgeting for. The minimum deposit is US$50, and eToro AUS Capital has held AFSL 491139 since 2018.
eToro: Real Shares + Stock CFDs
Share CFDs (count)
2,800+ across ASX, US, global
Trading Platforms
eToro web, app
Minimum Deposit
$50 USD
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 2018) 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. 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 2007.
Interactive Brokers: DMA For Advanced Traders
Markets (underlying)
8,000+ across ASX, US, global
Trading Platforms
Trader Workstation, IBKR Mobile, GlobalTrader
Minimum Deposit
$0
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 in our testing. ASIC issued Capital Com Australia AFSL 513393 in 2021.
Capital.com: 3,000+ Share CFDs, No Commission
Share CFDs (count)
3,000+ across ASX, US, global
Trading Platforms
Capital.com WebTrader (share CFDs), MT4, MT5, TradingView
Minimum Deposit
A$20
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: 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. Account tiers start at a A$1,000 minimum on Premium, rising through Platinum and VIP for larger balances. Our review remains provisional while the AFSL 280372 status, current PDS and live pricing are confirmed, and this entry reflects the Saxo legacy offering rather than verified live terms.
Totality: DMA Equities At Institutional Depth
Markets (underlying)
Direct equities (DMA); count not confirmed under Totality brand
Trading Platforms
Totality Edge (web), Totality Apex (desktop)
Minimum Deposit
$0
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
Proposed anchor slug: `#10-low-cost-mt5-share-cfds-trading-com` Link target (once section is live): `#10-low-cost-mt5-share-cfds-trading-com`
Trading.com: Low-Cost Mt5 Share Cfds
Markets (underlying)
Share CFDs on major AU and global listings
Trading Platforms
MT5, Trading.com WebTrader
Minimum Deposit
AUD 50
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 closes the list as 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. 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.
Share CFDs vs buying shares
A share CFD tracks the price of a stock so you can go long or short with leverage, but you never own the share, you pay financing to hold it overnight, and you get no franking credits. If you would rather own ASX shares outright than trade CFDs, 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; owning shares suits long-term investing. This page is about the CFD.
| Attribute | Share CFD | Buying the share |
|---|---|---|
| Ownership | No | Yes |
| Leverage | Up to 5:1 | None |
| Short selling | Yes, directly | Hard for retail |
| Dividends | Cash adjustment only | Real dividend |
| Franking credits | No | Yes (Australian shares) |
| Overnight cost | Yes (financing) | None |
| Time horizon | Short-term | Long-term |
ASIC leverage cap on share CFDs
ASIC caps retail leverage on share CFDs at 5:1 under its 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. This is deliberately conservative because single stocks can gap hard on news. Professional clients can access more but lose retail protections like negative balance protection and AFCA recourse.
ASX vs US and global share CFDs
ASX share CFDs are the local lens: you trade 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.
US share CFDs let you trade US-listed names overnight (Sydney time), with the depth and liquidity of the largest equity market in the world, but you carry currency conversion 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 if your 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. Run the financing maths for the hold you actually plan before opening.
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. You do not receive franking credits because you do not own the share. 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 your circumstances, so confirm with the ATO or a tax adviser 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 you want short-term exposure, the ability to short, or leverage to hedge an existing holding, and you accept the financing cost and the loss of franking. Buying the share beats the CFD when you want long-term ownership, dividends and franking credits, and you do not want leverage or overnight financing eating returns. Many investors use both for different jobs. If you are still choosing a broker, our best forex brokers in Australia guide ranks every ASIC name on overall value.
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 is a share CFD?
Are share CFDs the same as buying shares?
What leverage can I use on share CFDs in Australia?
Can I trade ASX share CFDs?
Do I get franking credits or dividends on a share CFD?
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.