Best CFD brokers in Australia for 2026

The ten ASIC-regulated CFD brokers ranked

The ranking weights asset-class breadth (40 percent), execution quality and spreads (30 percent), platform selection (15 percent), and Australian-specific factors (15 percent: AUD deposits, PayID support, ASIC compliance record, customer service hours). Forex-specialist brokers rank lower on multi-asset CFD breadth than they do on the pure forex pillar, and CFD-specialist brokers (IG, CMC, Plus500) rank higher here than on the forex page.

"Best for" reflects the strongest competitive position by use case, not exclusive capability. Most brokers offer overlapping asset classes; ranking captures relative strength rather than absolute presence. AFSL numbers verified on the ASIC Professional Registers at connectonline.asic.gov.au.

For the ASIC regulatory framework underlying this list, see the ASIC regulated forex brokers reference page. For the forex-only ranking with a different set of weighting factors, see the best forex brokers Australia pillar.

Best overall CFD broker: Pepperstone

Pepperstone takes the top spot for combined breadth across CFD asset classes and execution quality across all of them. AFSL 414530, Melbourne-based, AUD 200 minimum deposit, AUD 3.50 per-side commission on the Razor account.

The competitive position rests on three things. First, platform selection is the widest of any ASIC broker: MT4, MT5, cTrader, and TradingView all run from a single account login. Most competitors offer two or three platforms; Pepperstone offers all four. Second, spread performance during volatility events (FOMC, NFP, RBA decisions) is consistently among the tightest in the licensed market. Third, the asset class coverage spans forex, indices, commodities, share CFDs (selective), and cryptocurrency CFDs without major gaps.

Where Pepperstone is not the best: index CFD breadth (IG Markets and CMC Markets list more), ASX share CFD depth (FP Markets has IRESS), and absolute lowest commission (Fusion Markets undercuts on commission alone if forex-only).

For the full broker analysis with live spread testing data, see the Pepperstone review.

Best for share CFDs: FP Markets

FP Markets is the only ASIC-regulated CFD broker with direct IRESS platform access for retail clients. AFSL 286354, Sydney-based, AUD 100 minimum deposit. IRESS is the institutional-grade Australian equity trading software used across the wholesale market; FP Markets brings it to retail.

The IRESS advantage is meaningful for share-CFD-focused traders. Level 2 depth of market on ASX listings, integrated market data feeds, advanced order types, and the ability to trade physical ASX shares alongside CFDs from the same platform login. No other ASIC retail broker offers this combination.

For multi-asset CFD use cases beyond ASX shares, FP Markets is competent but not class-leading: forex spreads are tight on the Raw account but slightly wider than Pepperstone or IC Markets during Asian session, and the commodity and index CFD ranges are smaller than IG Markets or CMC Markets.

Best fit: Australian traders whose primary CFD focus is ASX shares or who need IRESS for institutional-style order execution. Forex CFDs come along as a secondary benefit. Full review at FP Markets review.

Best for index CFDs: IG Markets

IG Markets has the broadest index CFD selection of any ASIC-regulated broker, with over 80 global index CFDs covering every major and minor index plus regional indices most competitors do not list. AFSL 515106, Melbourne-based Australian entity (IG Australia Pty Ltd), AUD 0 minimum deposit.

Beyond raw breadth, IG's index CFD execution is built on decades of derivative-market infrastructure. IG was founded in 1974, making it one of the oldest financial CFD providers globally. The pricing on major indices (ASX 200, S&P 500, Nasdaq 100, FTSE 100, DAX) is competitive even against forex-specialist brokers, and IG's proprietary platform plus MT4 support gives it more flexibility than the platform-narrow forex specialists.

Where IG is less competitive: on pure forex spreads, IG's standard account uses commission-included pricing that is wider than Pepperstone or IC Markets Raw accounts. For index CFD focus this does not matter; for traders splitting time between forex and indices, the Pepperstone all-rounder approach is often better total cost.

Best for commodity CFDs: IG Markets (CMC Markets close second)

Commodity CFDs cover gold, silver, oil, natural gas, agricultural commodities (wheat, corn, soybeans, coffee, sugar), and base metals (copper, platinum, palladium). The ASIC-regulated brokers fall into two tiers on commodity CFD breadth.

Tier 1: deep coverage

IG Markets and CMC Markets each list around 30 to 40 commodity CFDs across precious metals, energy, agriculture, and base metals. CMC's commodity selection is roughly equivalent to IG's; both materially exceed the forex-specialist brokers. Spreads on the major commodities (XAU/USD, XAG/USD, WTI crude, Brent crude) are competitive and tighter than the wider commodity range at smaller brokers.

Tier 2: major commodities only

Pepperstone, IC Markets, FP Markets, Eightcap, Vantage, and Plus500 typically cover gold, silver, oil, and a handful of major commodities. Spreads on those specific instruments are competitive, but the breadth is narrower if you trade across the full commodity complex.

For commodity-focused CFD traders, IG Markets is the default. For occasional commodity trading alongside primarily forex, the forex specialists are sufficient.

Best for crypto CFDs: Pepperstone

Cryptocurrency CFDs let traders speculate on Bitcoin, Ethereum, and other major crypto without holding the underlying coins. The ASIC 2:1 leverage cap on crypto CFDs applies uniformly across all licensed brokers.

Pepperstone offers the cleanest crypto CFD setup among ASIC-regulated brokers: BTC, ETH, LTC, XRP, BCH, plus selective major altcoins, with spreads competitive against the global market and execution that holds up during weekend volatility (when most crypto CFD providers widen spreads aggressively).

For traders who want to actually own crypto rather than trade derivative exposure, an AUSTRAC-registered exchange is the correct path: Swyftx, CoinSpot, Independent Reserve, or Binance.com (post-AU shutdown). Crypto CFDs and physical crypto exchanges serve different use cases. See the best crypto exchanges Australia pillar for the physical-ownership path.

Best for beginners: Plus500

Plus500 is the simplest CFD platform among the ASIC-regulated set. AFSL 417727, Sydney-based Australian entity (Plus500AU Pty Ltd), AUD 100 minimum deposit. The proprietary web and mobile platform is intentionally streamlined: no MetaTrader to learn, no cTrader complexity, no platform-switching between asset classes.

The trade-off is platform power. There is no MT4 or MT5 option at Plus500, no algorithmic trading via expert advisors, no advanced order types beyond basic stop and limit. For beginners, this is a feature rather than a limitation; for traders who eventually want to develop a more sophisticated process, Plus500 hits a ceiling that requires migration to another broker.

The alternative beginner-friendly choice is Eightcap: AUD 100 minimum, AFSL 391441, MT4 and MT5 plus TradingView integration. The TradingView option is meaningful because TradingView's charting is approachable for beginners and the trader does not need to learn MetaTrader's interface as a separate skill. Choose Eightcap over Plus500 if TradingView fluency matters or if you want the option to graduate to MetaTrader without changing brokers. Choose Plus500 if maximum simplicity is the primary requirement.

For the full Plus500 breakdown including the LSE-listed parent governance angle, the no-commission spread-based pricing model and its cost implications, the complete instrument coverage list, and the head-to-head versus Pepperstone and Eightcap, see the dedicated Plus500 review.

Best for lowest cost: Pepperstone or IC Markets

Lowest cost on a CFD broker is the sum of spread plus commission across the trader's actual instrument mix. For pure forex CFDs, Pepperstone Razor and IC Markets Raw Spread are tied at approximately AUD 7 round-turn per standard lot on EUR/USD. For multi-asset CFD trading, Pepperstone wins on combined cost because the same platform and account handles all asset classes without commission stacking.

Fusion Markets undercuts on pure forex commission (AUD 4.50 round-turn) and is the cheapest forex-only option. For traders who also trade indices, commodities, or share CFDs at meaningful volume, Fusion's narrower asset coverage and lower-tier execution infrastructure make Pepperstone or IC Markets the better total-cost choice.

For high-volume traders, broker rebate programs (sometimes available at IC Markets Raw and Pepperstone Razor for clients above defined monthly volume thresholds) can lower effective commission below the published rate. These programs are not advertised on retail-facing pages; ask the broker directly once monthly volume justifies the conversation.

ASIC leverage caps by CFD class

ASIC's product intervention order effective 29 March 2021 caps retail CFD leverage at the same maxima across every licensed broker. The caps are not negotiable and apply to all retail accounts regardless of broker.

The differentiated caps reflect ASIC's risk-weighted view of each asset class. Retail traders who want higher leverage on shares or crypto often migrate to wholesale-client classification (AUD 2.5 million net assets test or qualifying professional status). The wholesale path raises the leverage ceiling but drops the investor protections, which is rarely a good trade for retail-scale capital. For the full regulatory framework see the ASIC regulated forex brokers page.

How CFD trading differs from spot forex

Most retail Australian traders use the words "forex" and "CFD" interchangeably, but the regulatory and tax treatment differ.

Forex (the underlying market). Buying one currency against selling another, settling in actual currency at the prevailing exchange rate. Spot forex is what banks and institutions trade on the wholesale market.

CFD on forex (the retail derivative). A Contract for Difference between trader and broker that pays out the difference between entry and exit price, with no underlying currency held. The CFD wrapper is what makes retail forex trading practical at small position sizes and accessible at low minimum deposits.

For retail Australian traders, almost all "forex trading" through Pepperstone, IC Markets, FP Markets, Eightcap, Vantage, IG Markets, CMC Markets, and Plus500 is technically CFD trading. The CFD wrapper applies to other asset classes too: index CFDs, commodity CFDs, share CFDs, and cryptocurrency CFDs all follow the same derivative structure.

Why this matters for tax: the ATO treats CFD profits as ordinary assessable income, not capital gains, because no underlying asset is held. The 50 percent CGT discount that applies to long-term share investing does not apply to CFD trading, regardless of holding period. For the full tax treatment see the forex tax Australia pillar.

AUD deposits and platform considerations

Every ASIC-regulated CFD broker on this list supports AUD-denominated accounts, PayID, Osko, BPAY, bank transfer, and credit card deposits. PayID and Osko are the default recommendation for Australian residents: instant processing, no fees, no exchange rate conversion since the account is AUD-native.

Platform-wise the major decision points are:

• MetaTrader 4 (MT4): ageing but ubiquitous; massive expert advisor library; available at most brokers.
• MetaTrader 5 (MT5): MT4 successor; depth of market support; multiple asset classes; default for new accounts in 2026.
• cTrader: institutional-grade depth visualisation; available at Pepperstone (single login), IC Markets (separate account), FP Markets.
• TradingView: best modern charting; direct trading at Pepperstone and Eightcap.
• Proprietary platforms: IG Markets, CMC Markets, Plus500, Vantage (ProTrader mobile) each have their own platforms with varying levels of capability.

For traders who already have a platform preference, the broker selection narrows to whichever ASIC brokers support that platform. For traders without a preference, MT5 or TradingView are the strongest defaults; MT4 is reaching end-of-life.

Frequently asked questions