Best CFD trading platforms in Australia
Best CFD broker in Australia - IC Markets
IC Markets: World`s largest Forex broker with low spreads starting from 0.1 pips and fees as low as $3 per lot. Advanced technology and direct access to liquidity ensure tight spreads
AMarkets: International broker with diverse trading options, including Forex, Stocks CFDs, Metals, Cryptopairs, Bonds, Commodities, and Indices. Offers copy trading and various bonuses
FxPro: Reliable global Forex broker with multiple regulatory oversight. Wide range of trading markets, including Forex pairs, equity indices, cryptocurrencies, commodities, and futures. Emphasis on research and development
Admiral Markets UK: Established broker with strict regulation and solid reputation. Offers tight spreads, demo accounts, and excellent customer service. Provides bonus programs for extra trading funds
FXOpen: Respected broker with optimum trading conditions, innovative technologies, and a wide range of financial services. Offers trading in Forex, shares, commodities, indices, cryptocurrencies, and more. Regulated by the FCA
Australia's CFD trading market offers a wide range of platforms for investors seeking trading opportunities. Choosing the best CFD trading platform is crucial for traders as it can significantly impact their trading experience and potential returns. For such platforms, considering important factors such as average spread rates, deposit and withdrawal methods, trading features, available assets, and regulatory compliance is vital. By gaining a comprehensive understanding of the top CFD trading platforms in Australia, traders can make informed decisions and maximize their chances of success in the dynamic world of CFD trading.
Can you trade CFDs in Australia?
CFD trading is fully legal in Australia, but it's important to understand the complexities involved in trading leveraged derivatives like CFDs. To ensure reliable trading and investor protection, it is highly recommended to use an ASIC regulated broker. In Australia, the Australian Securities Investment Commission (ASIC) oversees the regulation of CFD trading, safeguarding clients' investments. As of 29 March 2021, ASIC has implemented conditions on the issuance and distribution of CFDs to retail clients. These conditions include maximum leverage ratios, aligning Australia with other major markets such as the UK and EU. The aim of these limits is to reduce the potential losses for retail clients by decreasing CFD exposure and sensitivity to market volatility.
| Asset Class | Maximum Leverage Ratio |
|---|---|
Major Forex |
30:1 |
Minor Forex Pairs |
20:1 |
Gold and Major Indices |
20:1 |
Commodities (excluding gold) |
10:1 |
Individual Equities |
5:1 |
Cryptocurrencies |
2:1 |
Fees comparison of CFD brokers in Australia
| Broker | Average EUR/USD Spread | Regulation |
|---|---|---|
IC Markets |
0.1 pips |
AFSC |
AMarkets |
0.4 pips |
FSA, FCA |
FxPro |
1.4 pips |
FCA, CySEC, FSCA, SCB |
FXOpen |
0.2 pips |
AFSL |
InstaForex |
3.00 pips |
FSC |
Pepperstone |
1.12 pips |
ASIC, FCA |
NordFX |
1.2 pips |
VFSC, CySEC |
Fusion Markets |
0.2-0.3 pips |
ASIC |
eToro |
1 pip |
ASIC |
Admiral Markets |
0.1 pips |
MiFID and EFSA |
Top CFD trading platforms in Australia
Best CFD Trading Platforms in AustraliaIC Markets – №1 Best CFD broker
IC Markets is a leading Forex broker known for its extensive trading volume and competitive spreads, starting from as low as 0.1 pips. With cutting-edge technology, direct liquidity access, and no dealing desk, IC Markets offers tight spreads, making it an attractive choice for traders. It is regulated by multiple authorities, including the Financial Services Authority of Seychelles, Cyprus Securities and Exchange Commission, and Australian Securities and Investments Commission.
| Parameter | IC Markets |
|---|---|
Minimum deposit |
USD 200 |
Fees class |
Low |
Deposit method |
Bank / wire transfer, Paypal, credit card, Skrill, Neteller, UnionPay, Bpay, FasaPay and Poli |
Withdrawal method |
Same as deposit methods |
Withdrawal fee |
No withdrawal fees charged by IC Markets |
Number of trading instruments |
3583+ |
Inactivity fees |
No inactivity fee charged by IC Markets |
AMarkets – №2 Best CFD broker
AMarkets is an international brokerage offering CFD and Forex trading services. With offices in Europe and the CIS, AMarkets provides a range of trading opportunities, including copy trading for passive income. The broker offers various deposit and no-deposit bonuses and is registered by the Financial Services Authority of Saint Vincent and the Grenadines. AMarkets caters to both beginners and professional traders, with a focus on algorithmic trading.
| Parameter | AMarkets |
|---|---|
Minimum deposit |
USD 100 |
Fees class |
Low |
Deposit method |
Credit/Debit Cards, Bank Wire Transfer, FasaPay, Jeton Wallet, Neteller |
Withdrawal method |
Neteller, Perfect Money, TopChange, WebMoney, Skrill |
Withdrawal fee |
No withdrawal fees charged by AMarkets |
Number of trading instruments |
250+ trading instruments |
Inactivity fees |
No inactivity fee |
FxPro – №3 Best CFD broker
Established in 2006, FxPro is a globally recognized Forex broker offering a wide range of trading markets. Regulated by four financial services commissions, including the FCA and CySEC. FxPro provides access to Forex pairs, equity indices, cryptocurrencies, commodities, and futures. With a commitment to research and development, FxPro offers ultra-fast execution and comprehensive customer support, making it a reliable choice for traders of all levels.
| Parameter | FxPro |
|---|---|
Minimum deposit |
USD 100 |
Fees class |
Low |
Deposit method |
Bank Wire transfers, Credit/Debit cards, PayPal, Neteller, Skrill |
Withdrawal method |
Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, UnionPay |
Withdrawal fee |
No withdrawal fees charged by FxPro |
Number of trading instruments |
2249+ |
Inactivity fees |
USD 5 monthly fee after 6 months of inactivity |
Admiral Markets – №4 Best CFD broker
Admiral Markets UK is a reputable Forex and CFD broker that has been operating since 2001. With strict regulation from the Australian Securities and Investments Commission and the Financial Conduct Authority, Admiral Markets provides reliable and transparent trading services. The broker offers tight spreads, suitable for both experienced and novice traders. Additionally, Admiral Markets offers extra trading funds through its "Zero to Hero" program, enhancing the trading experience.
| Parameter | Admiral Markets |
|---|---|
Minimum deposit |
Varies depending on the type of trading account used (USD 1 to USD 25) |
Fees class |
Low |
Deposit method |
Bank transfer, Visa and MasterCard, Klarna, Skrill |
Withdrawal method |
Same as deposit methods |
Withdrawal fee |
No withdrawal fee |
Number of trading instruments |
4000+ |
Inactivity fees |
€10 per month after 2 years of inactivity. Only charged if your account balance is greater than zero |
FXOpen – №5 Best CFD broker
FXOpen, established in 2003, is a well-known Forex broker offering a wide range of financial services. With a focus on optimum trading conditions, innovative technologies, and the MetaTrader 4 terminal-based ECN, FXOpen provides access to various trading instruments, including currency pairs, CFDs, indices, and cryptocurrencies. Regulated by the Financial Conduct Authority, FXOpen ensures the safety and security of client funds.
| Parameter | FXOpen |
|---|---|
Minimum deposit |
$1 for most funding methods, $25 if funding via Wire Transfer1 |
Fees class |
Low |
Deposit method |
Visa, Mastercard, UnionPay, bank transfers, WebMoney, Neteller, Skrill, Qiwi wallet, Perfect Money, Yandex Money, Sorex Pay, Intellect Money, RBK Money |
Withdrawal method |
Same as deposit methods |
Withdrawal fee |
Depends on the currency type (0.5% to 2%) |
Number of trading instruments |
FXOpen offers more than 2000 trading instruments globally, including Forex pairs, CFDs on shares, ETFs, cryptocurrencies, indices, and commodities |
Inactivity fees |
FXOpen charges an inactivity fee of $10 per month after 90 consecutive days of non-use |
InstaForex – №6 Best CFD broker
InstaForex is an internationally recognized Forex broker operating since 2007. With access to 300 trading instruments, including PAMM Investment and ForexCopy system for copy trading, InstaForex caters to both novice and professional traders. The broker offers favorable trading conditions, a user-friendly interface, and prompt customer support. Regulated by the British Virgin Islands Financial Services Commission, InstaForex ensures a reliable trading experience.
| Parameter | InstaForex |
|---|---|
Minimum deposit |
USD 1 |
Fees class |
Low |
Deposit method |
Bank card (VISA/MasterCard), Skrill, Bank wire, Neteller, PayCo, BitCoin, LiteCoin, Tether, PayLivre (Brazil), Southeast Asia Bank transfers, Local Transfers |
Withdrawal method |
Same as deposit methods |
Withdrawal fee |
Varies depending on withdrawal method (0.5% to 2.5%) |
Number of trading instruments |
143+ |
Inactivity fees |
InstaForex charges an inactivity fee of $10 per month after 12 months of inactivity |
Pepperstone – №7 Best CFD broker
Founded in 2010, Pepperstone is a reputable Australian Forex broker offering competitive trading conditions. With fully functional trading platforms and a wide range of trading instruments, including Forex pairs, individual shares, commodities, indices, and cryptocurrencies, Pepperstone is suitable for CFD traders. The broker emphasizes high-quality education and is regulated by the Financial Conduct Authority and the Australian Securities and Investments Commission.
| Parameter | Pepperstone |
|---|---|
Minimum deposit |
USD 200 |
Fees class |
Low |
Deposit method |
Bank transfer, credit/debit card (Visa, MasterCard), PayPal |
Withdrawal method |
Bank transfer, credit/debit card (Visa, MasterCard), PayPal |
Withdrawal fee |
No withdrawal fee for credit/debit cards and electronic wallets (except for Skrill and Neteller). Bank transfer withdrawal is free for EU and Australian clients but costs $20 or equivalent for others |
Number of trading instruments |
Pepperstone offers a wide range of financial instruments for trading, including over 60 currency pairs, 3 currency indices, and various commodities, indices, and cryptocurrencies |
Inactivity fees |
No inactivity fee |
NordFX – №8 Best CFD broker
NordFX is an award-winning international brokerage established in 2008. Regulated by VFSC, CySEC, and SEBI, NordFX ensures responsible monitoring and fulfillment of obligations. The broker offers various account types with competitive spreads and commission rates. With a wide range of tradable instruments, including currency pairs, cryptocurrencies, and CFDs, NordFX caters to diverse trading preferences.
| Parameter | NordFX |
|---|---|
Minimum deposit |
Varies depending on the type of trading account used (From USD 10 to USD 500) |
Fees class |
Low |
Deposit method |
Bank transfer, credit/debit card (Visa, MasterCard), online payment systems (WebMoney, Skrill, NETELLER), internal transfer |
Withdrawal method |
Bank transfer, credit/debit card (Visa, MasterCard), online payment systems (WebMoney, Skrill, NETELLER), internal transfer |
Withdrawal fee |
No withdrawal fee |
Number of trading instruments |
50+ financial instruments |
Inactivity fees |
No inactivity fee |
Fusion Markets – №9 Best CFD broker
Fusion Markets, regulated by the Australian Securities and Investments Commission, is an Australian online trading platform known for its commission-free trading and tight spreads. With fast execution speeds and user-friendly trading platforms, Fusion Markets offers a seamless trading experience. While it may have limited educational resources and product selection, its low fees, multiple support channels, and low minimum deposit requirement make it an attractive option for traders.
| Parameter | Fusion Markets |
|---|---|
Minimum deposit |
USD 1 |
Fees class |
Low |
Deposit method |
Wire transfer, credit/debit card, and online payment methods like Neteller and Skrill |
Withdrawal method |
Same as deposit methods |
Withdrawal fee |
No withdrawal fee |
Number of trading instruments |
85 currency pairs |
Inactivity fees |
No inactivity fee |
eToro – №10 Best CFD broker
eToro, regulated by ASIC, is an investment platform suitable for novice traders in Australia. Broker offers its user-friendly copy trading and social trading platforms, eToro also offers a seamless trading experience. It provides a wide range of educational resources and has a minimum initial deposit of $200, which reduces to $50 after the initial deposit. Although it doesn't charge commissions on trading stocks and ETFs, there is a withdrawal fee of $5.
| Parameter | eToro |
|---|---|
Minimum deposit |
USD 200 |
Fees class |
Low |
Deposit method |
Bank transfers, eToro Money, PayPal, Skrill, and Neteller |
Withdrawal method |
Bank transfers, eToro Money, PayPal, Skrill, and Netelle |
Withdrawal fee |
$5 withdrawal fee |
Number of trading instruments |
5,000+ instruments from a wide range of asset classes |
Inactivity fees |
$10 per month after twelve months of inactivity |
How to find the best CFD broker in Australia
Finding the best CFD broker in Australia involves a step-by-step process that considers your trading style and preferred instruments. Here's how you can go about it:
Assess available markets: Check if the broker offers a wide range of markets, including Forex, gold, silver, cryptocurrencies, stock market indices, and global stock CFDs
Consider currency availability: If you plan to trade Forex, ensure that the broker offers your preferred currency pairings
Review commission fees: Check the brokerage fees associated with trading stock and stock index CFDs. High commission fees can impact your profitability, so ensure they are reasonable. Some brokers operate on a Forex spread model instead of charging commissions
Consider minimum opening balance: Some brokers require a high minimum opening balance before you can start trading. If possible, try the demo version of the platform first to familiarize yourself before committing a significant amount of capital
Assess available platforms and software: Evaluate the trading platforms offered by the broker and check if they allow you to add software or analytics tools, such as PsyQuation, for enhanced trading capabilities
Consider other types of trading: Determine if the broker also caters to your other investment needs, such as direct shares, ETFs, Forex, or managed funds
Summary
CFD trading provides Australian investors an opportunity to speculate on a wide range of global markets. However, it is important to exercise caution and due diligence when selecting a broker. This article outlined some of the leading international CFD brokers that warrant consideration based on factors like regulated status, platform offerings, cost structure and reputation. Overall, IC Markets, AMarkets, FxPro, Admirals and FXOpen emerged as top choices due to their competitive trading conditions, diverse product selection and exemplary regulatory compliance.
When deciding on a suitable broker, investors should carefully evaluate each option based on their trading style, objectives and risk tolerance to maximize chances of success. With regulated and reputable brokers, CFD trading can be an efficient tool for portfolio diversification when executed prudently with proper risk management.
FAQs
Can you trade CFDs in Australia?
Yes, CFD trading is legal and accessible in Australia.
Which platform is best for CFD trading?
The best platform for CFD trading varies based on individual preferences and trading needs. Some of the best CFD trading platforms in Australia are IC Markets, eToro and AMarkets.
What are CFDs in Australia?
Contracts for Difference (CFDs) in Australia are financial derivatives that allow traders to speculate on the price movements of various underlying assets, such as stocks, commodities, indices, or currencies, without actually owning the underlying asset.
Which online trading platform is best in Australia?
The best online trading platform in Australia can vary depending on individual preferences and needs. Some popular and highly regarded platforms in Australia include eToro, IC Markets, NordFX, and Fusion Markets. It is important to consider factors such as fees, available markets, ease of use, customer support, and trading tools when choosing a platform that suits your requirements.
Team that worked on the article
Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.
As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).