Best CFD Brokers in Australia 2024 Reviewed

As CFD trading gains increasing popularity in Australia, the market has witnessed a significant surge in the number of available CFD brokers.

This guide review the overall best CFD brokers in Australia in 2024, We also look at several features, such as fees, trading tools, supported CFD markets, and more.

Best CFD Brokers in Australia 2024

Before we look into each platform in detail, let’s review our list of the best CFD brokers in Australia:

1. eToro – Overall, the best choice for Australians looking to trade CFDs
2. XTB – One of the best CFD brokers in Australia with low fees and super-tight spreads
3. Plus500 – Leading CFD broker with a global presence
4. CMC Markets – Top CFD broker with a high degree of security for client funds and interests
5. IG – Best trading platform with access to some of the lowest broker fees
6. XM – The best CFD brokers ideal for novice traders
7. Trade Nation – One of the most popular CFD trading platforms with a wide range of CFDs
8. Pepperstone – Best CFD brokers in Australia that has swift trade execution 
9. AvaTrade – The regulatory environment at AvaTrade is outstanding
10. Vantage – Top CFD platform for seasoned professionals
11. Skilling – Leading CFD broker in Australia with good customer support

Review of the 11 Best CFD Brokers in Australia 

Now, let’s look at our list of best CFD brokers in Australia in more detail. When selecting a CFD trading platform, traders must consider several features. This is why we have looked at factors such as fees, spreads, supported markets, regulatory status, and more in our review. Let’s get started.

eToro –  Overall the best CFD broker in Australia 

eToro is one of Australia’s most popular CFD brokers and share & crypto trading platforms, ideal for beginners and pro traders. It provides ample educational resources and requires a minimum initial deposit of $200, which later becomes $50. Trading stocks and ETFs on the platform is commission-free, while it charges a withdrawal fee of $5.

Traders interested in leveraged CFDs have a selection of over 3,000 instruments on eToro. This includes indices, stocks, ETFs, cryptos, and forex. All CFD markets on eToro are available on a spread-only approach. For context on potential costs, forex trades commence with spreads as low as 1 pip. The platform presents spreads of 5 pips for oil and silver and 45 pips for gold.

With a user-friendly trading platform, intuitive interface, and streamlined account opening, even novice investors can swiftly conduct trade. An additional standout feature at eToro is copy trading. It enables passive investment by replicating the trades of accomplished eToro users. Each trader requires a minimum investment of $200, and no supplementary charges are levied.

eToro Australia also provides smart portfolios, hand-picked and professionally managed by their team, each with a specific strategy. One such portfolio tracks renewable energy companies, featuring 30 stocks from the sector, including First Solar, NextEra Energy, SSE, and Ormat Technologies.

For payments, eToro accommodates numerous convenient deposit methods, including debit/credit cards, BPAY, PayPal, bank transfers, and more.

eToro Platform Overview 

eToro CFD – Pros and Cons 

CFD Service. Your capital is at risk

XTB –  One of the biggest and most established CFD brokers in Australia 

Next on the list of the best CFD brokers in Australia is XTB. With 15+ years of experience, XTB is a major global broker and operates in 10+ countries, including Belize, UK, Poland, Germany, Spain, and France.

The popular gold CFD trading broker strictly follows IFSC, FCA, KNF, ASIC and CySEC regulations. Australian traders are drawn to its diverse tradable instruments, top-notch education, and strong market analysis. Through CFDs, it covers stocks, ETFs, cryptocurrencies, and indices, enabling speculation without ownership. Leverage and short-selling options are also provided.

XTB and its analysis team have garnered numerous awards for their services and research, showcasing transparency and execution speed. They secured the #1 EMEA Bloomberg spot for FX accuracy in Q2 of 2020 and Q3 of 2018.

Unlike other brokers, XTB offers solely two account choices: the Standard Account and the Swap-Free Account. The Standard Account includes costs in variable spreads, while the Swap-Free Account involves spread markup and commission.

iOS and Android users get a native app from Australia’s top CFD broker. It matches desktop and web features, aiding on-the-go traders with seamless access. XTB’s xStation suite serves desktop, iOS, Android, and browsers. Leverage varies by location; EU and Australian traders, like those on eToro, face a cap of 1:30.

This best CFD broker in Australia also has a web trader platform. It lets traders use xStation 5 on the web without big downloads. It works on Chrome, Firefox, Safari, and Opera and supports Windows and Mac devices.

XTB – Platform Overview 

XTB – Pros and Cons

Plus500 – One of the most trusted global CFD brands in terms of business tools

Plus500 is a multi-asset CFD trading platform. It stands out as the best forex brokers in Australia and top leading CFD brokers by providing traders access to most of the popular global stocks, including Greece, South Africa, Hong Kong, and Japan. Cannabis shares can also be traded. From 2015 to 2022, the platform sponsored a prominent Spanish club, Atletico Madrid. Presently, they’re official partners with the Chicago Bulls. 

The platform has a seamless and user-friendly interface. It suits new and experienced traders as it’s simple to navigate with a clean layout. It also offers several risk management tools like and features like stop-loss orders, trailing stops, and guaranteed stop orders, helping traders limit potential losses and maximize profits.

Offering over 1,000 instruments, Plus500’s portfolio is extensive. They provide a trading mobile app. Access via Web-Trader, iOS (iPhone/iPad), Android, or Windows app. A demo account is open to all on Plus500. Traders can practice trading with no cost and no time limit. It’s a risk-free way to explore the platform’s features. 

The Australian subsidiary of this best CFD broker holds a license from the Australian Securities and Investment Commission (ASIC). It is also regulated by established government agencies like:

• The Financial Conduct Authority (FCA) of the UK
• The Cyprus Securities and Exchange Commission (CySec)
• The Financial Markets Authority (FMA) of New Zealand
• The Monetary Authority of Singapore (MAS)
• The Australian Financial Security Authority (FSA)
• The Financial Sector Commission Authority (FSCA) of South Africa

Plus 500 – Platform Review 

Plus 500 Pros and Cons 

CMC Markets – best CFD broker with a high degree of security for client funds and interests

Founded in 1989, CMC Markets is a renowned UK-based broker. With over 10,000 trading instruments, it covers CFDs and spread betting. Their comprehensive asset database, available on the web and mobile, along with abundant resources, makes it a top pick for Australian traders.

It stands out as the best CFD broker in Australia and offers several advanced trading tools, complex financial instruments, and sophisticated market analysis tools. It also prioritizes accessible resources and eliminates entry barriers with no minimum deposit or withdrawal. Funds are kept in separate accounts for added security, and all customer accounts are insured by CMC Markets. Australian traders can access charting tools, customizable layouts, and algorithmic trading options.

CMC Markets features an acclaimed Next-generation platform and the top-notch Metatrader 4. Next-gen strategies are accessible through a browser globally. CMC executes investment account trades in under 1 second. This best CFD broker in Australia stands out for its affordability. It requires no minimum initial deposit and has zero-commission trading. Competitive spreads and overnight fees apply.

Customer service is a priority for the broker. CMC Markets offers 24/5 support in multiple languages. The team responds quickly to resolve queries. The platform also offers Australian traders access to a variety of extensive, advanced research and educational tools. CMC Markets is a respected online broker and is part of the FTSE smallcap index. High-tier regulatory authorities oversee it, and it’s listed on the London Stock Exchange.

CMC Markets – Platform Overview 

CMC Markets – Pros and Cons 

IG –  The best CFD broker in Australia for asset diversity

IG Markets, a leading CFD broker in Australia, operates across 17 countries. Known for its diverse tradable instruments, user-friendly platforms, and educational resources, IG Markets offers multiple trading platforms. These include trading signals, mobile trading, and algorithmic trading, empowering investors with varied options.

IG’s standout feature is its versatile trading platform software. They provide a range of platforms catering to diverse user requirements and languages. Alongside their proprietary platform, options include third-party ones like MetaTrader 4. The software is exceptionally user-friendly and intuitive, available on desktop, web, and mobile.

IG’s core platform is browser-based and helps in eliminating downloads. Its mobile app suits trading on the move. Monitoring tools and instant alerts supplement it. The platform’s Australian website features the ‘Analyse and Learn’ tab, offering ample information for traders at every level. Additionally, a helpful YouTube section is accessible, providing diverse materials to boost knowledge, acquire expert insights, and enhance trading skills.

IG’s position as one of the best CFD brokers in Australia is further solidified by integrating advanced analytical and risk management tools into its trading platform. The platform also offers a free demo account, enhancing its appeal.

IG boasts a dedicated team for seamless support, available via live chat, phone, email, and Twitter almost 24/7, with a brief Saturday break. With over 330,000 active clients daily, IG is a sizable broker.

IG Platform Overview

IG Pros and Cons 

XM – The most popular CFD brokerage with low Deposit

With robust regulation across pertinent jurisdictions, XM reinforces its reputation by offering a prime blend of key user requirements. This includes security, support, effortless account transactions, and minimal fees. This fusion positions XM as an intelligent choice for beginning or advancing a trading journey.

XM earns its reputation as one of Australia’s best CFD brokers and the top-regulated trading platform. Testing their brokering experience is possible through a demo account. XM actively seeks regulation from key financial authorities. They currently hold licenses from Australian, Cyprus, Belize, and Dubai regulators: ASIC, CySEC, FSC, and DFSA, respectively.

Experienced traders with higher risk tolerance can use margin trading for leveraged positions, needing less capital for amplified exposure. Profits and losses increase accordingly, but XM safeguards against potential losses through negative balance protection and margin calls.

The platform excels by providing top-notch educational resources. They offer complimentary weekly webinars that cover popular subjects, demonstrating their dedication to facilitating user learning. Their Live Education feature provides opportunities for interactive Q&A sessions with expert instructors in the users’ native languages. These sessions delve into various strategies, market trends, and news suitable for all skill levels.

Although there exist limitations when employing XM’s financial services in specific regions or under particular market constraints, the broker actively enhances its user experience. It provides customized tools with indicators tailored to suit individual traders’ requirements. XM Group distinguishes itself by offering extensive market research among its peers.

XM Platform Overview 

XM Pros and Cons

Trade Nation – The leading CFD broker that accepts multiple account currencies 

Trade Nation is one of the best CFD brokers in Australia that operates as a worldwide broker for forex, indices, commodities, shares, and best cryptocurrencies. Its distinguishing features include a commitment to fairness and transparency. The asset selection at Trade Nation varies based on the platform you use, namely MT4 or TN Trader. MT4 boasts 28 forex pairs, 14 indices, and 4 commodity contracts and individual equities from 5 distinct geographical regions.

The platform offers a user-friendly trading app designed for both web and mobile use, making it an innovative suite particularly suitable for novice forex and CFD traders. The platform operates within the guidelines established by regulatory bodies such as the Financial Conduct Authority, the Australian Securities and Investment Commission, and The Securities Commission of the Bahamas. Ensuring security measures and strict adherence to local laws is a paramount concern for this platform.

Trade Nation prioritizes a fixed-spread trading environment, specifically targeting new retail traders. Its focus lies in executing the fundamentals well rather than introducing unique features. The platform doesn’t impose any mandatory minimum deposit. However, it’s worth noting that a minimum withdrawal limit of $50 or its corresponding currency equivalent is applicable.

The fee structure remains transparent, devoid of concealed charges or deposit fees. Two distinct app options are accessible: TN Trader and Meta Trader 4. Meta Trader 4 offers users intricate market analysis tools and trading charts.

Trade Nation Platform Overview

Trade Nation Pros and Cons 

Pepperstone – The best CFD trading brokers in Australia with top spreads

Pepperstone stands as a premier CFD trading platform renowned for its highly competitive spreads and rapid execution speed. It is operated in Australia and under the regulation of ASIC. This leading brokerage stands out in terms of spreads and minimum deposit prerequisites, performance, mobile app functionalities, withdrawal procedures, and login security measures.

The platform is ideal for Australian traders searching for economical solutions and substantial profit opportunities. Its ongoing growth is fueled by its compelling combination of competitive trading expenses, swift trade executions, and a diversified assortment of assets. The Australian arm of Pepperstone presents a maximum leverage of 1:30. This ensures negative balance protection. The platform lacks a depositor compensation scheme.

The broker’s razor account is worth exploring. It grants entry to some of the narrowest spreads found in the industry. In exchange for a commission of $3.50 per lot, currency pairs such as EUR/USD can be engaged with spreads as tight as 0.0 pips during standard trading hours. Both account types facilitate fee-free transactions, and notably, no obligatory minimum deposit exists.

Pepperstone stands out as the best CFD brokers in Australia with a diverse range of trading platforms like MetaTrader 4 and cTrader. This provides traders with unparalleled choices. The platform offers financial spread betting to both retail and professional traders. Bet on forex, indices, shares, and more on the powerful MT4, MT5, and cTrader platforms.

Pepperstone also delivers exceptional educational and training resources tailored for traders who are new to spread bets.

Pepperstone Platform Overview

Pepperstone Pros and Cons  

AvaTrade – One of the most trusted and well-known brokers in Australia 

Adding to the list of 0% commission providers among the best CFD brokers in Australia, is AvaTrade. The platform has tight regulations and ASIC authorization and is recognized by eight other financial entities. These include CySEC, FFAJ (Japan), and the Central Bank of Ireland.

This leading trading platform presents traders with an extensive array of trading platforms. This includes a specialized options trading platform, its proprietary mobile app, and a social trading platform. The assortment of available assets strikes a harmonious balance. This helps users in having a comprehensive cross-asset diversification within a commission-free pricing framework.

AvaTrade introduces traders to a pricing structure devoid of commissions with slightly elevated spreads. The EUR/USD pairing, for instance, commences at 0.9 pips or $9 per 1.0 standard lot. Equity traders encounter a minimal spread of 0.13%, also without commissions. Certain equity traders might encounter competitive pricing on specific assets, depending upon trading volume and duration. Index and commodity traders benefit from an especially attractive proposition. Trading costs in these domains rank among the industry’s best.

The Avatrade platform provides an array of trading platforms tailored to cater to diverse trading styles and experience levels, offering two proprietary platforms, a complete MetaTrader suite, ZuluTrade, and DupliTrade.

Traders concerned regarding potential losses can find solace in AvaTrade’s protective solution, known as AvaProtect. While this service involves a fee, it guarantees compensation for losses incurred within the covered timeframe. It’s important to note that AvaProtect is applicable exclusively to market orders.

The best CFD brokers in Australia have features like AvaSocial, a mobile application that empowers traders to track and converse with fellow traders. It is made available through a third-party provider named Pelican Trading, which operates under the regulation of the FCA.

AvaTrade Platform Overview

AvaTrade Pros and Cons 

Vantage – The most popular multi-asset CFD broker in Australia

Vantage emerges as the best CFD brokers of 2024, extending stock, forex, cryptocurrency, and commodities trading opportunities to Australians. The RAW account alternative, in particular, boasts among the most minimal spreads available, starting at 0.0. With a commission of $2 per lot, Vantage solidifies its status as one of the most cost-effective CFD brokers within the Australian market.

Vantage Markets facilitates trading in a vast array of stocks sourced from both NYSE and NASDAQ. This encompasses heavyweight stocks such as Tesla, Coca-Cola, and Apple. Notably, trading US-listed stocks incurs no trading commissions. Expanding its scope, Vantage Markets features stocks from the UK and European markets as well.

Vantage stands out with its ability to enable users to initiate CFD trading with remarkably low spreads. For instance, when trading Google share CFDs, users can encounter spreads as minimal as 0.1 pips through this provider.

Depending on your chosen account type, a nominal commission might apply to other CFD trades. Opting for the standard account offers low commissions and a slightly wider spread.

Featuring an intuitive user interface, Vantage offers a user-friendly platform. Users can create a new account within just a few minutes. The broker provides access to share CFDs from leading companies listed in the United States of America, the United Kingdom, Australia, and several European countries.

Vantage completes its MetaTrader platform suite by including various social trading platforms and content resources fueled by Trading Central. The broker provides its own proprietary mobile app. Vantage falls behind industry frontrunners when it comes to crucial aspects like research and educational resources.

Vantage Platform Overview

Vantage Pros and Cons 

Skilling – Leading CFD broker in Australia with good customer support

Rounding off the list of best CFD brokers in Australia is Skilling. It emerges as a universal CFD broker with a specific emphasis on stock markets and cryptos. Users can engage in trading across an array of financial products and securities. The broker furnishes traders with a distinctive proprietary platform accessible through both web and mobile devices.

Skilling provides a wide range of assets to trade. This includes 73 pairs of different currencies, 37 types of cryptocurrencies, over 700 share contracts, 5 commodities, and 17 groups of market indicators. They support different trading platforms, including MT4, cTrader, and their own unique platform. Skilling stands out in the market by allowing easy use of cTrader with their platform.

Skilling stands out as one of the best CFD brokers in Australia, providing Standard and Premium accounts with competitive leverage and spreads. This covers a broad selection of major, minor, and exotic forex pairs. With over 70 currencies at their disposal, users have more trading possibilities compared to many other competitors.

Skilling is regulated by CySEC in Cyprus, the FSA of Seychelles, and the FCA through its UK branch. Skilling keeps all client funds in separate accounts at major European banks to comply with FSA rules. Furthermore, they offer negative balance protection, ensuring that clients can’t lose more than what’s in their trading accounts.

Skilling Platform Overview

Skilling Pros and Cons 

Comparing The Best CFD Brokers in Australia 

Here’s a quick overview of the best CFDs brokers in Australia.

How To Choose The Best CFD Brokers in Australia?

Choosing the right futures brokers is crucial for a successful CFD trading journey. Given the multitude of options, it’s vital to factor in various aspects to find the CFD broker that suits your trading objectives and preferences. Amid the array of choices in the Australian market, making a decision might seem overwhelming. These are the key factors to consider while choosing the best CFD brokers in Australia.

Pricing and Fee Structure 

Brokers have distinct fee systems. This includes spreads, commissions, and overnight financing costs. It’s beneficial to compare these fee structures among different brokers to gauge their impact on your trading profitability over the long term. Certain brokers provide trading without commissions, coupled with slightly broader spreads. Conversely, some offer narrower spreads but apply a commission per trade.

Overview of the fees and pricing of the best CFD brokers in Australia

Minimum Deposit

One of the significant factors to consider while selecting the best CFD broker in Australia is understanding the minimum funds required to begin trading. Different brokers have various initial deposit prerequisites. It is crucial to align this minimum deposit with your financial comfort zone and your trading goals.

Choose the platform with an average/no minimum deposit that doesn’t impose financial strain. Also, take into account your budgetary constraints. However, don’t solely focus on the deposit aspect; consider the wide range of services and features offered by the broker before finalising your decision.

Demo Account

A demo account helps traders practice using the broker’s trading platform and learn how CFD trading works without using real money. It’s like a pretend trading space that acts like the real market. Having a demo account is great for new traders. They can learn, try out trading strategies, and feel more comfortable before they start trading for real.

Robust Customer Service 

Good customer support makes sure you get help when you need it, quickly dealing with any problems or questions you have. Find brokers that give you different ways to reach them, like phone, email, and live chat. Their support teams should be helpful and know a lot about their services. A trustworthy broker will always be there to assist you with technical issues, questions about your account, or anything related to trading.

Availability of Mobile Application 

Having a mobile app is really important when you’re choosing a CFD broker in Australia. With a mobile app, traders can easily get into their accounts, keep an eye on the markets as they happen, quickly make trades, and get important updates, all while they’re on the go.

It’s good to go for brokers that have mobile apps that are easy to use and make sure they’re safe. Also, the app should work well with the operating system your device uses. This will give you more flexibility and make trading more convenient for you.

Tools and Analysis 

It’s really important to have strong tools and lots of analysis resources when you’re picking the right CFD broker in Australia. The broker should give you things like advanced charts, technical indicators, real-time market info, and research materials. These things help traders make smart choices.

Find platforms that have a variety of analysis tools that match how you trade. It doesn’t matter if you use technical analysis or focus on the fundamentals. These tools help you see trends, figure out what the market’s like, and do well with your trades.

Safety and Regulation

A key factor to consider when picking a broker is whether your money will be safe. No trader wants their money to vanish because of scams or mistakes.

When you’re choosing an Australian CFD broker, check if they follow the rules set by regulators. Make sure the broker has a license from the Australian Securities and Investments Commission (ASIC). This makes sure the broker is being watched and follows the right standards. It keeps your money safe.

Different Types of Payment Methods 

When you’re looking at CFD brokers in Australia, it’s important to think about the different ways you can put money in and take money out. A good broker will give you lots of safe and easy options to put money into your trading account and take it out.

Payments include bank transfers, credit and debit cards, online wallets like PayPal or Skrill, and sometimes even cryptocurrencies.

Availability of Trading Platforms 

Having a trading platform that’s easy to use and works well is really important for making successful trades. Choose a broker that gives you a strong trading platform with tools for advanced charts, technical indicators, and real-time market info. Also, think about whether the broker has mobile trading apps for when you’re on the move.

Inflexible leverage levels

The CFD provider decides how much margin and leverage you need for each market. You don’t get to choose this; you have to agree with what they say and make plans to manage the risks based on those terms. These terms might change, and you have to follow them. If you don’t, your broker might close your current trades.

Steps to Begin Trading CFDs With a Regulated Australian Broker

Let’s see all the steps to begin your trading journey. By following these steps, you’ll establish a strong foundation for navigating the world of CFD trading while benefiting from regulatory safeguards and professional support.

Step 1: Open an eToro Account 

To begin, initiate the process by creating a trading account with the broker you’ve selected. This can be accomplished by following the guidelines outlined on their website, a process that often takes just a matter of minutes. In order to verify your account, most brokers will require your identification documents and proof of address.

After your account is verified, you’ll gain access to the complete range of features within your trading account.

Step 2: Funding the account

You have various options to add funds to your account, depending on the choices presented by your broker. If you wish, you can even deposit money in currencies other than your local one. For instance, you can link your credit or debit card directly to your trading account to make deposits.

If you’re uncertain, an alternative is to open a demo account. This safe environment enables you to trade without any risk of losses, providing you with a chance to become more familiar with the trading process.

Step 3: Search for Assets to Trade 

Searching for suitable assets to trade is a crucial step in your trading journey. You should focus on assets that align with your trading goals and strategies. This could include stocks, indices, commodities, currencies, or cryptocurrencies.

Research and analyze different markets to identify assets that exhibit favorable trends or patterns. Keep an eye on market news, economic indicators, and geopolitical events that can influence asset prices. By conducting thorough research and staying informed, you’ll be better equipped to make informed trading decisions.

Step 4: Trade CFDs

Choose your preferred asset and begin your trading journey.

CFD Service. Your capital is at risk

CFD Brokers in Australia 2024 – A Final Word

After extensive consideration, we concluded that eToro deserves the title of the best CFD broker in Australia. This cutting-edge platform provides a top-notch CFD trading experience. All types of traders will find asset they can trade amongst the thousands of instruments and tradable assets.

CFDs offer traders a versatile option for trading, particularly when hedging portfolio positions or working with limited capital. Selecting the optimal CFD trading platform can be challenging. The registration procedure often entails considerable paperwork, which makes traders hesitant to switch CFD brokers after signing up, even if their initial choice wasn’t ideal. Having comprehensive information about the top CFD brokers in Australia prior to registration would undoubtedly be beneficial.

These best CFD brokers in Australia demonstrate their commitment to providing a secure and user-friendly trading environment with the tools and resources necessary for traders to thrive.

eToro Broker

• Free Copy Trading of Professional Traders
• Best AU CFD Broker
• Minimum Deposit only $10
• Best Beginner exchange

9.9

Visit eToro

CFD Service. Your capital is at risk

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Author: Kamal Masri

Kamal is an experienced financial analyst with a demonstrated history of working in the Financial Market. Skilled in Equities, Capital Markets, Portfolio Management, Risk management, and Corporate Finance. Kamal has worked at some of the leading online finance publications providing his expert knowledge on cryptocurrency. Kamal has written widely on digital assets across the stock and crypto media space and beyond, including for Coindesk, Ethereum World News and The FinTech Times.

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