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CFD trading platforms in Australia for 2024 (ASIC regulated)

Compare fees and trading platforms to find the best CFD broker for you.

Disclaimer: General information only. All forms of investments (and in particular, trading CFDs, commodities and forex) carry significant risk, including the risk of losing more than the invested amounts, market volatility and liquidity risks. Past performance is no guarantee of future results. Such activities are not suitable for most investors.
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Name Product Minimum Opening Deposit Minimum Opening Deposit Commission - ASX 200 Shares Available CFD markets Platforms
Pepperstone CFD
$0
$0
$5 or 0.07%
Australian Stocks, Commodities, Cryptocurrencies, ETFs, Forex, Global Stocks, Indices (CFDs only)
MetaTrader 4
MetaTrader 5
cTrader
TradingView
Pepperstone Trading Platform
Disclaimer: CFD Service. Your capital is at risk.
Get access to more than 60+ forex and CFD markets when you sign up with this award-winning Australian broker. Plus, access the new advanced TradingView charts platform.
Vantage CFD
$50
$50
No commission
Commodities, Cryptocurrencies, ETFs, Forex, Global Stocks, Indices (CFDs only)
MetaTrader 4
MetaTrader 5
TradingView
Disclaimer: CFD Service. Your capital is at risk.
Vantage has some of the lowest CFD trading fees in Australia including $0 commissions on all Gold trades. Plus you can find global trends and place trades through the new TradingView charts platform.
IG CFD broker
$0
$0
0.08% with $7 minimum
Bonds, Commodities, Cryptocurrencies, ETFs, Forex, Global Stocks, Indices, Options (CFDs only)
MetaTrader 4
ProReal Time
IG Trading Platform and Apps
L2
Disclaimer: CFD Service. Your capital is at risk.
Trade from over 15,000 markets with Australia's leading service for CFD trading and forex.
Plus500 CFD
$100
$100
No commission
Commodities, Cryptocurrencies, ETFs, Forex, Global Stocks, Indices, Options (CFDs only)
Plus500 Trading Platform
Disclaimer: CFD service. Your capital is at risk.
Trade CFDs on Australian and International shares, indices, cryptocurrencies, commodities and more.
IC Markets CFD (True ECN Account)
US$200
US$200
0.1% per side
Australian Stocks, Global Stocks, Indices, Commodities, Forex, Cryptocurrencies (CFDs only)
MetaTrader 4
MetaTrader 5
cTrader
Disclaimer: CFD Service. Your capital is at risk.
Trade 230+ different products with fast execution under 40 milliseconds on average.
Saxo Invested CFD
0
0
0.08% with $3 minimum
Bonds, Commodities, Cryptocurrencies, ETFs, Forex, Global Stocks, Indices, Options, (CFDs only)
SaxoTraderGO
SaxoTraderPRO
Disclaimer: CFD Service. Your capital is at risk.
Award-winning trading platfrom with extensive charting tools and reliable execution.
Blueberry Markets CFD Trading
US$100
US$100
$20 per month subscription plus 2% of trade size
Australian Stocks, Commodities, Cryptocurrencies, Indices (CFDs only)
MetaTrader 5
Disclaimer: CFD Service. Your capital is at risk.
Bottom of the market fees on forex, CFDs and commodities with 24/7 quality customer service.
ACY Securities CFD
$50
$50
No commission
Australian Stocks, Bonds, Commodities, Cryptocurrencies, ETFs, Forex, Global Stocks, Indices, Metals (CFDs only)
MetaTrader 4
MetaTrader 5
Disclaimer: CFD Service. Your capital is at risk. Trade over 2,000 products across CFDs, forex, indices, metals, shares, commodities and cryptocurrency, starting from as low as $50 a trade.
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A contract for difference (CFD) is a tradable instrument that tracks the price of an underlying asset. They are traded across multiple asset classes including foreign exchange, commodities, shares and cryptocurrencies.

Trading CFDs and forex on leverage is high-risk and you could lose more than your initial investment. It may not be suitable for every investor. Refer to the provider’s PDS and consider the risks before trading.

What are CFDs?

CFDs are derivative contracts that can be used to speculate on the price movements of different assets including stocks, commodities, market indices, forex and cryptocurrencies.

Because CFDs are complex investment products that are typically paired with leverage, they're high-risk and best suited to experienced traders.

Instead of owning the asset itself, investors hold a contract that is attached to a specific asset. The contract stipulates that the buyer of the contract must pay the contract seller the difference between the current price of the asset and the price at the time the contract was sold.

One of the benefits of CFDs is that they can go both "long" or "short", meaning a trader can try to make a profit regardless of the direction of the market. For this reason, CFD trading often becomes more popular during times of market volatility, as traders seek to profit by "shorting" the market when it falls.

Despite their popularity, as many as 8 in 10 investors lose money when trading CFDs.

This guide offers a complete overview of CFDs, including how they are traded, some trading strategies and what risks are involved.

Pepperstone CFD Trading Offer

Pepperstone CFD Trading Offer

Enjoy cheap fees and incredibly quick order executions when you trade forex, commodities and crypto assets.

  • Choice of markets
  • Choice of platforms
  • Tight spreads
  • Algorithmic and copy trading features
Promoted

Disclaimer: Trading CFDs and forex on leverage is high-risk and losses could exceed your deposits.

5 reasons to trade CFDs

There are a few main reasons you might want to trade CFDs:

  1. CFDs allow you to speculate on thousands of financial products and global markets that you may otherwise be unable to access.
  2. You can go long or short, hence you can profit (and also lose money) in both rising and falling markets.
  3. You can hedge your portfolio. Hedging acts as insurance for the rest of your portfolio through CFDs.
  4. You can usually access free demo accounts, as well as charts and trading tools through your broker.
  5. CFD contracts don't necessarily have a fixed expiry date, meaning you can close out your position when you decide.

There are also many reason not to trade CFDs. Before signing up, check out some of the risks of CFD trading further down.

What are the risks?

CFDs are extremely risky, complex products and are ideally only suited to very experienced financial traders. Here are some of the potential risks that you should know about before deciding if CFD trading is right for you:

  • CFDs are complex. CFDs are very intricate and confusing products. Even if you have a general understanding of what a CFD is, this doesn't mean you're ready to start trading CFDs.
  • You can lose more than your initial capital. If you gamble on the pokies, the most money you can lose is the amount you put into the pokie machine. This is not the case with CFDs. If you lose a CFD trade, you can lose much more money than you started with, meaning you actually owe the CFD provider money, sometimes hundreds of thousands of dollars.
  • You don't own the underlying asset. When trading CFDs, all you own is the contract between you and the CFD provider. Therefore, you can't benefit from the capital growth of the underlying asset over the long term.
  • CFDs depend on how the market performs. Even though you don't own the underlying asset, CFDs are still affected by market conditions. This can increase risks even more in a volatile market.

How to choose the best CFD trading platform

The CFD broker you choose will depend on your trading style and what instruments or assets you prefer to use.

If you're looking for the best online platform or app for you, consider the following:

  • Available markets. Does the broker offer forex, gold, silver, cryptocurrency, stock market indices, global stock CFDs and ASX 200 CFDs?
  • Direct share CFDs. Not all brokers offer CFD trading on shares. Those that do can charge an additional subscription fee to access them.
  • Currencies. If you're looking to trade forex, check whether your preferred pairings are being offered.
  • Commission fees. There's often a brokerage fee charged when trading stock and stock index CFDs, so check to make sure it's not too high. These brokers instead run off a spread model.
  • ASX live data. Does it charge a fee to access live stock market data from the ASX and other stock market indices?
  • Minimum opening balance. Some brokers require a high minimum opening balance before you start trading – consider trialling the demo version first if it has one.
  • Platforms and software. Which trading platforms does it offer and can you add on software or analytics tools such as PsyQuation?
  • Other types of trading. Do you also want to invest directly in shares, ETFs, forex or managed funds?

Look for a broker with both a mobile and desktop platform... A mobile app means you can place trades on the go and not miss out on any opportunities. Make sure the app is feature rich and easy to use. Many brokers have very simplified and restricted apps that don’t provide a good user experience. Go for a broker with a mobile platform as good as its desktop platform, and make sure they’re integrated!

What can you trade with CFDs in Australia?

Some of the most common markets you can access with CFDs are shares, indices, forex, bonds, cryptocurrencies and commodities like oil or gold.

If you want to trade CFDs, you need to fully understand how the CFD itself works as well as the underlying asset.

If you have no experience trading shares, for example, it's not a good idea to buy a shares CFD.


CFDs vs stocks

While CFDs and stocks are both used by traders, they're very different investment products.

When you purchase a stock, you're buying a small part of a business and are a part owner. As a shareholder, you get a number of perks including voting rights of the company and dividend payments.

On the other hand, CFDs are simply contracts tied to the performance of an underlying asset. That asset could be almost anything, from a stock to a currency pair or a commodity like gold. When you purchase a CFD, you never actually own the underlying asset. You've simply entered a contract that will deliver either a profit or loss depending on the asset's price movements.

This means if you purchase a share CFD, you wont get any of the perks that shareholders typically receive - because you are not a shareholder.

Where CFDs gain an advantage over traditional share owners is they can trade on the price movements in either direction. This means they can profit (and lose) from both a rising and falling share price.

If you're trading CFDs over shares you're also facing greater risks. This is because CFDs are normally paired with leverage. This means using borrowed funds to amplify both profits and losses. It also means that you can lose more than your initial investment, unlike when you purchase shares directly.

How do forex and CFDs differ?

Forex trading involves trading one global currency against another in order to make a profit.

CFDs are contracts where you can trade any number of underlying assets, including forex. In Australia, most forex brokers are actually CFD brokers. With CFD forex brokers, you're not trading currencies directly, but trading contracts that speculate on the price movements of a currency pair.

The main difference between trading forex directly and CFDs on forex is how the price of an asset will change. When you're trading CFDs the price is largely determined by the underlying supply and demand of the currency. When you're trading via the forex market, the price will swing based on the fundamentals of the currency.

There's also the difference in the purpose of each market. Forex was originally created to help countries trade with each other. CFDs are not involved in international trade but instead are used by traders to gain a profit or hedge against losses.


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Are CFDs right for beginners?

CFDs are not recommended for beginners given they are riskier than traditional investment products and are complicated. This is especially the case when leverage is involved.

Instead, CFDs are more suited to experienced traders or those that are considered sophisticated investors.

If you're new to trading and want to learn, many brokers offer free demo accounts and educational resources. These can help you learn how the markets work as well as test your strategies prior to risking your own money.

Are CFDs right for you?

CFDs are more suitable if:

  • You are an experienced trader.
  • You have a strong understanding of not only CFDs but many financial products and markets.
  • You possess a high tolerance to risk and are not at all risk-averse.
  • You can afford to lose quite a bit of money (it's not guaranteed that you will, but you need to be able to afford it if you do).
  • You have some level of legal expertise to understand the complexity of CFDs.
  • You are not interested in owning the underlying assets.
  • You understand the measures available to minimise your risk and are experienced using these tools, for example, stop-loss orders.
  • You have conducted plenty of research – trading CFDs is not a decision that should be taken lightly.

Can you make money trading CFDs?

While the majority of retail investors actually lose money, it is certainly possible to make money trading CFDs.

Like anything though, becoming a successful trader can take some time, as you will need to learn the basics, control your emotions and build up your trading skills. As such, you’re better off starting with a demo account. This way you can practice your trading without risking your capital.

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Frequently asked questions about CFDs

CFD and share trading glossary

  • Ask or ask price. This is the price at which a CFD trader can open a sell position or close a buy position.
  • ASIC. This is the Australian Securities and Investment Commission.
  • Bid or bid price. This is the price at which a CFD trader can open a buy position or close a sell position.
  • CFD (contract for difference). This is a contract entered into by 2 parties who agree to exchange money according to the change in value of an underlying asset.
  • Contract currency. This is the currency in which a particular asset is traded.
  • Dealing. Dealing is when you open or close a CFD position.
  • Derivative. This is a financial instrument whose price is derived from an underlying asset.
  • Going long. This is when you open a buy position.
  • Going short. This is when you open a sell position.
  • Hedging. This is taking an opposite position to reduce the risk associated with an initial position.
  • Initial margin. This is the minimum initial amount of money a CFD trader must outlay to open a position.
  • Leverage. Leverage allows you to trade a larger-value asset than the worth of your initial investment. This is sometimes also referred to as gearing.
  • Open interest. This is the interest rate that applies to all CFD positions that are held open overnight.
  • Stop-loss. A stop-loss order can be placed when a CFD position is opened and is triggered when the price reaches a specified level. These orders are used to close out positions that have resulted in a loss and aim to prevent further loss.
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Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades. Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the product on the provider's website.

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2 Responses

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    MahenAugust 2, 2023

    How can I get an Australian CFD broker?

      AvatarFinder
      KylieAugust 23, 2023Finder

      Hi Mahen, all of the CFD brokers displayed on this page are regulated in Australia. You can sign up by clicking on the “Go to site” button on the table.

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