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Best CFD Brokers and Trading Platforms in Australia 2024

Written By

James Barra

Written By

James Barra

James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.

» James Barra Profile Page

Fact Checked By

Jemma Grist

Fact Checked By

Jemma Grist

Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.

» Jemma Grist Profile Page

Updated

Apr 17, 2024

CFD brokers in Australia should be regulated by the Australian Securities & Investments Commission (ASIC), which has strengthened its investor protections in recent years, limiting leverage to 1:30 for retail investors and taking legal action against trading platforms for over-marketing CFDs.

Explore our selection of the best CFD brokers in Australia. Every platform recommended has been exhaustively reviewed, earned the trust of our experts, and caters specifically to Aussie CFD traders.

Top 5 CFD Trading Platforms in Australia

Our tests show that these are the 5 top platforms for Australian CFD traders:

1. Pepperstone - Pepperstone maintains its position as one of the fastest and most dependable CFD brokers during our latest round of testing. With execution speeds averaging around 30ms and an outstanding fill rate of 99.90%, the broker ensures a seamless trading experience without requotes or dealing desk interference. It also provides ample trading opportunities across over 1,300 assets.
2. IC Markets - You gain access to over 2,250 CFDs, available for trading 24/5 across popular markets such as forex, commodities, indices, stocks, and bonds. Utilizing deep liquidity and advanced bridge technology, IC Markets ensures optimal conditions for scalpers, hedgers, and algo traders alike.
3. AvaTrade - AvaTrade's 1250+ leveraged CFD products span a wide range of asset classes including stocks, indices, commodities, bonds, crypto, and ETFs. You can speculate on underlying assets in the broker’s feature-rich web and mobile platforms with market-leading research tools to help discover opportunities.
4. Fusion Markets - You can go long or short on a range of CFDs covering forex, commodities, shares, indices and cryptos. High leverage up to 1:500 is available for experienced traders in some locations, whilst beginners will appreciate access to micro-lots. There are no restrictions on short-term trading strategies using CFDs.
5. Eightcap - Eightcap offers a wide range of trading options with 800+ CFDs across stocks, indices, bonds, commodities, and cryptocurrencies (depending on location), with leverage up to 1:30/1:500. It excels in its tools, notably the AI-enabled economic calendar covering 25+ countries with impact filters (high, medium, low). However, its commodities offering, particularly in softs like cotton and wheat, as well as the limited precious metal and energy assets, is its weakest area.

Best CFD Brokers and Trading Platforms in Australia 2024 Comparison

Best CFD Brokers and Trading Platforms in Australia 2024 Comparison

Broker	CFD Trading	ASIC Regulated	AUD Account	Minimum Deposit	Leverage	Markets	Visit
	✔	✔	✔	$0	1:30 (Retail), 1:500 (Pro)	CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting	Visit
	✔	✔	✔	$200	1:30 (Retail), 1:500 (Pro)	CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto	Visit
	✔	✔	✔	$100	1:30 (Retail) 1:400 (Pro)	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting	Visit
	✔	✔	✔	$0	1:500	CFDs, Forex, Stocks, Indices, Commodities, Crypto	Visit
	✔	✔	✔	$100	1:30	CFDs, Forex, Stocks, Indices, Commodities, Crypto	Visit
	✔	✔	✔	$0	1:500	CFDs, Forex, Stocks, ETFs, Futures, Commodities, Crypto, Spread Betting (UK Only)	Visit
	✔	✔	✔	$5	1:30	Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures	Visit
	✔	✔	✔	$0	1:30 (Retail), 1:50 (Accredited Investor), 1:200 (Sophisticated Investor), 1:300 (Wholesale Investor), 1:400 (Professional Trader). Varies with jurisdiction.	CFDs, Forex, Stocks, Cryptos, Options, Commodities, Bonds	Visit
	✔	✔	✔	$100	1:30	CFDs, Forex, Indices, Commodities, Stocks, Crypto	Visit
	✔	✔	-	$50	-	CFDs, Forex, Stocks, Indices, ETFs, Smart Portfolios, Commodities, Futures, Crypto, NFTs	Visit
	✔	✔	✔	$0	1:500 (entity dependent)	Forex, CFDs, Indices, Shares, Commodities, Futures, Bonds, Cryptos (Bahamas Entity Only)	Visit
	✔	✔	✔	$0	1:30 (Retail), 1:250 (Pro)	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting	Visit
	✔	✔	✔	$50	1:500	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds	Visit
	✔	✔	✔	$0	1:30 (Retail), 1:500 (Pro)	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting	Visit
	✔	✔	✔	$100	1:30	CFDs on Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto	Visit

#1 - Pepperstone

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Review

Why We Chose Pepperstone

Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.

"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."

- DayTrading Review Team

• Instruments: CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
• Regulator: FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
• Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
• Minimum Deposit: $0
• Minimum Trade: 0.01 Lots
• Leverage: 1:30 (Retail), 1:500 (Pro)

Pros

• Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates of 25%+ through the Active Trader program.
• Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.
• There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.

Cons

• Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.
• Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
• There’s no simplified proprietary trading platform, nor are there any social trading features, which could be a disadvantage if you are new to day trading.

Visit Pepperstone

#2 - IC Markets

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Review

Why We Chose IC Markets

IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.

"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."

- DayTrading Review Team

• Instruments: CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
• Regulator: ASIC, CySEC, FSA
• Platforms: MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
• Minimum Deposit: $200
• Minimum Trade: 0.01 Lots
• Leverage: 1:30 (Retail), 1:500 (Pro)

Pros

• IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders.
• IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
• With ultra-fast execution speeds averaging 35 milliseconds and deep liquidity, IC Markets provides an optimal trading environment for scalpers, hedgers, and algorithmic traders.

Cons

• Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
• There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.
• The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.

Visit IC Markets

#3 - AvaTrade

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Review

Why We Chose AvaTrade

AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, alongside a comprehensive education center and multilingual customer support.

"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."

- DayTrading Review Team

• Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting
• Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM
• Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
• Minimum Deposit: $100
• Minimum Trade: 0.01 Lots
• Leverage: 1:30 (Retail) 1:400 (Pro)

Pros

• The broker offers reliable 24/5 multilingual customer support with fast response times during testing
• There's a great range of fee-free deposit methods, including bank wire, credit cards and popular e-wallets like Skrill
• WebTrader is well-suited to beginners and features a strong suite of technical analysis tools and market research for day traders

Cons

• There is no ECN account with raw spreads
• Traders from the US are not accepted
• There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders

Visit AvaTrade

#4 - Fusion Markets

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Review

Why We Chose Fusion Markets

Fusion Markets is an online broker established in 2017 and regulated by the ASIC, VFSC and FSA. It is best known for its low-cost forex and CFD trading, although its multiple account types and copy trading solutions cater to a range of traders. New clients can sign up and start trading in 3 easy steps.

"Fusion Markets is a standout option for forex traders looking for excellent pricing with spreads near zero, industry-low commissions and recently TradingView integration. It’s a particularly good broker for Australian traders where the company is headquartered and regulated by the ASIC."

- DayTrading Review Team

• Instruments: CFDs, Forex, Stocks, Indices, Commodities, Crypto
• Regulator: ASIC, VFSC, FSA
• Platforms: MT4, MT5, cTrader, TradingView, DupliTrade
• Minimum Deposit: $0
• Minimum Trade: 0.01 Lots
• Leverage: 1:500

Pros

• Fusion Markets is set up to support algo traders with a sponsored VPS solution and a 25% discount if you opt for the NYC Servers VPS for MT4 or cTrader.
• The range of charting platforms and social trading features is excellent, with MT4, MT5, cTrader and more recently TradingView, catering to a wide range of trader preferences.
• The market analysis features, Market Buzz and Analyst Views, are great tools for discovering opportunities and conveniently integrated into the client dashboard.

Cons

• The demo account expires after 30 days, limiting its potential as a useful trading tool alongside a real-money account.
• Fusion Market trails alternatives, notably eToro and IG, in the education department with limited guides and live video sessions to upskill new traders.
• There is no proprietary trading platform or app built with beginners in mind, a notable drawback compared to AvaTrade.

Visit Fusion Markets

#5 - Eightcap

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Review

Why We Chose Eightcap

Eightcap is a multi-regulated forex and CFD broker established in Australia in 2009. The broker has proven popular with active day traders, providing 1,000+ instruments with tight spreads and notable improvements in recent years, integrating the leading TradingView platform, alongside AI-powered financial calendars and algo trading tools with zero coding experience required.

"Eightcap delivers in every area for day traders with a growing selection of charting platforms and AI-powered tools. Now sporting 250+ crypto CFDs and the Crypto Crusher market scanner, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."

- DayTrading Review Team

• Instruments: CFDs, Forex, Stocks, Indices, Commodities, Crypto
• Regulator: ASIC, FCA, xCySEC, SCB
• Platforms: MT4, MT5, TradingView
• Minimum Deposit: $100
• Minimum Trade: 0.01 Lots
• Leverage: 1:30

Pros

• Having excelled across all key areas for day traders, Eightcap outperformed more than 490 competitors to win our 'Best Overall Broker' award for 2024, also securing our 'Best Crypto Broker' title.
• After bolstering its roster in 2021, Eightcap offers one of the most extensive selections of cryptocurrency CFDs in the market, with crypto/fiat pairs, crypto/crypto pairs, plus crypto indices for broader exposure to the market.
• Eightcap stands out with a selection of powerful trading tools, including MT4 and MT5, the innovative algorithmic trading platform Capitalise.ai, and more recently the 50-million strong social trading network TradingView.

Cons

• Eightcap needs to continue bolstering its suite of instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities.
• The demo account expires after 30 days and can only be extended upon request - a notable inconvenience compared to the likes of XM with its unlimited demo mode.
• Despite a useful library of educational guides and e-books, Eightcap still trails IG’s comprehensive toolkit for aspiring traders with its dedicated IG Academy app and 18 course categories.

Visit Eightcap

Choosing A CFD Broker in Australia

Our years in the industry and direct experience using CFD trading platforms shows there are several things to consider when selecting a broker:

Trust

We’ve selected CFD brokers we trust after verifying they are regulated by the ASIC, ensuring the highest level of safeguards for Aussie traders. We also factored in our personal observations during the testing process, looking for dependable trading platforms with an excellent industry reputation.

The ASIC is the financial authority responsible for regulating CFD trading in Australia. It’s a ‘Green-tier’ regulator, meaning it actively monitors CFD brokers and provides the best investor protections.

Notably, the ASIC requires:

Markets

Contracts for difference can be used to speculate on rising and falling prices across a huge range of underlying markets, from stocks and indices to forex, commodities, cryptos, and more.

For Australians, in particular, it may be worth looking for brokers with access to local markets, such as the Australian Stock Exchange and currency pairs with an AUD component.

We’ve recommended CFD trading platforms that provide access to popular Aussie markets, as well as global markets, providing an array of short-term trading opportunities for investors at every level.

The Australian economy is one of the strongest in the world and the country has not experienced a technical recession for over 27 years, the longest of any economy globally.

It is also home to the Australian Securities Exchange (ASX), the largest stock exchange in the southern hemisphere, and the Sydney Stock Exchange (SSX). Its currency, the Australian dollar (AUD), is one-half of the fourth most traded currency pair globally – AUD/USD.

The country is also heavily influenced by trade between the Association of South East Asian Nations (ASEAN), such as Singapore, Thailand and Indonesia, and is part of an economic framework agreement known as ASEAN plus six.

CFD traders interested in commodities will also find Australia an attractive market, with mining making up around 7-8% of the country’s GDP. Iron, gold and copper are among the top commodities mined in the country.

Leverage

The availability of leverage, which allows you to multiply your trading results (profits and losses) in return for a small outlay, known as margin, is one of the main draws of CFD trading.

However, we only recommend Australian CFD brokers that abide by ASIC’s rules which mandate retail investors can’t access leverage beyond 1:30 for major currency pairs, 1:20 for minor currency pairs, 1:10 for commodities, 1:5 for shares and 1:2 for cryptos.

Let’s say I want to go long on Telstra Corporation (TLS) following an announcement from a respected industry outlet suggesting a promising 5G rollout across Australia.

I invest 200 AUD in a stock CFD using 1:5 leverage. This allows me to control 1,000 AUD (5 x 200 AUD).

If Telstra’s stock price rises by 10%, my position increases to 1,100 AUD, resulting in a 100 AUD profit (minus any fees).

James Barra

Author

Cost

Pricing is a critical consideration for CFD traders, especially day traders executing many orders. That’s why we analyze spreads on a range of underlying assets, from forex and commodities to stocks and indices, helping us identify the cheapest CFD brokers for Australian traders.

You’ll typically pay a spread and/or commission when dealing in CFDs. Importantly, newer traders may prefer a spread-only account – these feature higher spreads but keep pricing simple with zero commissions. Alternatively, experienced day traders may favor a low-spread account with a fixed commission.

Funding

The top brokers in Australia ensure a smooth CFD trading experience by facilitating hassle-free deposits and withdrawals, with an accessible minimum investment of up to 250 USD, around 400 AUD.

We’ve researched the payment methods most important to Australian CFD traders and factored their availability into our broker ratings. For example, PayID is one of the most popular methods in Australia, with over a third of Aussies using it for an online transaction in recent years.

FAQ

Which Is The Best CFD Broker In Australia?

Find the best CFD broker in Australia for your needs using our latest rankings.

Every platform recommended has been personally tested by our industry experts, accepts CFD traders from Australia, and is authorized by the ASIC.

Who Regulates CFD Trading Platforms And Brokers In Australia?

The Australian Securities and Investments Commission (ASIC) regulates CFD trading platforms and brokers in Australia.

The ASIC is widely respected for its excellent investor safeguards, notably negative balance protection, limits on leverage, and its active pursuit of brokers for their over-marketing of CFDs and failing to provide appropriate suitability tests, notably eToro in 2023.

How Much Money Do I Need To Open A CFD Trading Account In Australia?

Our analysis shows you typically need up to 400 AUD to open a CFD trading account in Australia.

That said, some brokers cater to budget traders with no minimum investment. The highest-rated are Pepperstone and IC Markets.

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