Best CFD Trading Platforms in Australia (2026)

Summary

• CMC Markets (Next Generation): best overall platform for AU traders. Over 12,000 CFDs, ASIC AFSL 238054, ASX-listed parent, integrated stockbroking.
• IG Markets: broadest product range at 18,000+ CFDs and the longest AU operating history of any CFD broker on this list.
• Pepperstone: best for forex-led CFD traders running MT4, MT5, cTrader or TradingView.
• IC Markets: tightest typical raw spreads on majors, deep MT4/MT5/cTrader stack.
• Plus500: cleanest beginner platform and the lowest mental overhead to start.
• eToro: only CFD broker on the AU shortlist with native social and copy trading.
• Interactive Brokers: the choice for direct market access and global share CFD coverage.
• FP Markets: best route to ASX share CFDs through IRESS, with a strong forex side as well.
• PU Prime: Sydney-based since 2011 (AFSL 410681), multi-asset CFD coverage across forex, indices, commodities, crypto, share CFDs and ETFs on MT4, MT5 and a proprietary app.

The right answer depends on what you trade. We’ve matched each broker to the trader profile it suits below.

How we ranked the platforms

We opened or maintain a live AUD account with all nine brokers on this list. Rankings are based on five weighted inputs:

1. Trust and regulation: AFSL standing, parent strength, ASIC enforcement record over the last 36 months, AFCA membership.
2. Total cost of trading: typical EUR/USD and AUD/USD spread plus commission, plus overnight financing on a sample share CFD held five nights.
3. Product range: total CFDs across forex, indices, commodities, shares, crypto, ETFs and bonds.
4. Platform quality: proprietary platform features, MT4/MT5/cTrader/TradingView availability, mobile app stability.
5. AU-specific features: PayID and BPAY funding, ASX-listed share CFD depth, AUD base account, support hours overlapping Sydney trading.

Read more in our methodology. Every broker on this list holds an Australian Financial Services Licence and is a current AFCA member. We don’t list offshore-only brokers.

Comparison table: CFD brokers in Australia 2026

Broker	Total CFDs	Forex	Indices	Commodities	Shares	Crypto	ETFs	Max retail leverage	Platforms
CMC Markets	12,000+	330+	80+	100+	10,000+	39	1,000+	30:1	Next Generation, MT4
IG Markets	18,000+	90+	80+	35+	13,000+	11	5,400+	30:1	IG web/L2 Dealer, MT4, ProRealTime
Pepperstone	1,300+	90+	25+	30+	1,000+	25+	100+	30:1	MT4, MT5, cTrader, TradingView
IC Markets	2,250+	60+	25+	25+	2,100+	21	30+	30:1	MT4, MT5, cTrader
Plus500	2,800+	70+	30+	30+	2,500+	20+	100+	30:1	Plus500 WebTrader, app
eToro	3,000+	50+	20+	25+	2,800+	70+	250+	30:1	eToro web, app
Interactive Brokers	8,500+	100+	30+	25+	8,000+	4	200+	30:1	Trader Workstation, IBKR Mobile, GlobalTrader
FP Markets	10,000+	70+	19	11	10,000+ (IRESS)	5	50+	30:1	MT4, MT5, cTrader, IRESS, TradingView
PU Prime	800+	70+	15+	20+	600+	25+	50+	30:1	MT4, MT5, PU Prime app

Product counts pulled from each broker’s published instrument list on 6 May 2026.

All nine hold an AFSL with ASIC. All offer AUD as a base account currency. All are AFCA members.

What is a CFD?

A Contract for Difference (CFD) is a derivative. You agree with a broker to exchange the difference in price of an underlying asset between when the contract opens and when it closes. You don’t take ownership of the asset itself. You’re paid (or you pay) the difference.

Three things follow from that.

First, you can go long or short with equal ease. CFDs were one of the first retail-accessible products that let an Australian trader profit from a falling ASX 200, a falling oil price, or a falling NVIDIA share price. The mechanism is the same in either direction.

Second, you trade on margin. Because you’re not buying the asset, you put up a fraction of the contract value. ASIC’s Product Intervention Order sets the cap on how much leverage a retail client can be offered (full table below). The flip side is that losses are leveraged in the same way as gains.

Third, you pay financing on positions held overnight. Long positions on share CFDs typically incur a daily financing charge equal to a benchmark rate plus a broker margin. Short positions sometimes earn a credit. Forex CFDs use a different swap mechanism based on the interest rate differential between the two currencies in the pair.

CFDs are a leveraged product. ASIC research from 2020 showed around 72% of retail CFD accounts lost money over a 12-month period, which is why the PIO leverage caps were introduced. Every broker on this site now displays the actual percentage of its retail accounts that lose money on its standardised risk warning.

ASIC retail leverage caps

Australian retail traders are capped at 30:1 leverage on major forex pairs under ASIC’s Product Intervention Order, which has been in force since 29 March 2021 and was made permanent in 2022.

Wholesale clients can request higher leverage at the broker’s discretion, typically up to 500:1, subject to passing the Corporations Act wholesale tests (broadly: AUD 500k+ net financial assets, or AUD 250k+ income for two consecutive years, certified by an accountant). This isn’t a retail product. Nine in ten readers of this site won’t qualify and shouldn’t try to.

Negative balance protection is mandatory for retail clients. Margin close-out triggers at 50% of the initial margin. Bonuses and inducements to retail clients are banned. The standardised retail risk warning is mandatory. These rules apply to every ASIC-regulated CFD broker without exception.

Top CFD platforms reviewed

1. CMC Markets: best overall for Australian CFD traders

Why it wins. CMC has held AFSL 238054 since 2002. The parent is ASX-listed (ticker CMC). The Next Generation platform is the strongest proprietary CFD platform offered to AU retail clients, with 115+ technical indicators, a pattern recognition scanner, client sentiment data and 70 chart patterns built in. Total product count sits at 12,000+ CFDs across forex, indices, commodities, 10,000+ share CFDs, crypto and bonds.

The FX Active commission account adds a $2.50 per side per 100k commission and brings EUR/USD to around 0.5 pips raw plus commission. That’s not the absolute lowest in our 30-broker set, but it’s competitive and the platform makes up the gap for most traders.

CMC also runs an integrated stockbroking arm. If you want to trade CFDs intraday and hold ASX equities long-term in the same login, no other broker on this list matches that.

Watch out for. Inactivity fee of AUD 15 per month after 12 months. Customer support is 24/5 only, no weekends. Share CFD financing rates sit above the AU average.

Read our full CMC Markets review.

2. IG Markets: widest CFD product range in Australia

Why it ranks here. IG holds AFSL 220440 and has been operating in Australia since 2002. The product range is the deepest on this list at 18,000+ CFDs, including 13,000+ share CFDs across the ASX and 30+ international exchanges. ProRealTime is available alongside MT4 and IG’s own web platform. Weekend support is available, which matters if you trade weekend crypto.

Watch out for. Higher minimum deposit than most ($300 effective in practice). Forex spreads on the standard account are wider than the RAW alternatives. The platform is more complex than Plus500 or eToro for a true beginner.

Read our full IG Markets review.

3. Pepperstone: best for forex-led CFD traders

Why it ranks here. Pepperstone holds AFSL 414530 and is the largest Melbourne-headquartered forex broker. The Razor account brings EUR/USD to around 0.06 pips raw plus AUD 7 commission per round-turn lot, which is among the lowest total cost on the AU market. MT4, MT5, cTrader and TradingView are all native. The CFD product range is narrower than CMC or IG, but for forex traders who occasionally trade indices, gold and a handful of share CFDs, Pepperstone covers the ground without the depth-tax.

Watch out for. Smaller share CFD selection than CMC or IG. No proprietary pattern scanner. Crypto CFDs offered but the universe is smaller than eToro.

Read our full Pepperstone review.

4. IC Markets: tightest typical raw spreads

Why it ranks here. IC Markets (AFSL 335692) runs the same Razor-style ECN model as Pepperstone with a similar cost stack: EUR/USD around 0.0 to 0.1 pips raw plus AUD 7 commission per round-turn lot on the Raw Spread account. The MT4, MT5 and cTrader build is well-tuned. EA traders rate IC Markets highly because the trading server latency is among the lowest in our test panel.

Watch out for. No proprietary platform. Educational content is thinner than CMC or IG. Customer support is solid but operating-hours-bound to Sydney trading.

Read our full IC Markets review.

5. Plus500: cleanest platform for new CFD traders

Why it ranks here. Plus500 (AFSL 417727) is the simplest CFD platform on this list. The web and app interface strips trading down to the essentials. The pricing model uses a stable markup that behaves like a fixed spread day-to-day. EUR/USD typically prints around 1.0 pip. There’s no commission. AUD funding is supported. Plus500 also operates a separate Plus500 Invest product for direct ASX share investing, a recent addition worth noting.

Watch out for. No MT4 or MT5. Spreads aren’t the lowest. The platform is deliberately stripped-back, so advanced charting and EA support aren’t there.

Read our full Plus500 review.

6. eToro: best for social and copy trading

Why it ranks here. eToro (AFSL 491139) is the only broker on this list with native CopyTrader, a Popular Investor program, and Smart Portfolios. If you want to copy verified traders inside an ASIC-regulated platform, eToro is effectively the AU default. The CFD range covers 3,000+ instruments including 2,800+ share CFDs, 70+ crypto, and forex. AUD account base is supported.

Watch out for. Spreads are wider than the RAW alternatives. Withdrawal fees apply. Copy trading still carries CFD risk and isn’t a substitute for due diligence on the trader you’re copying.

Read our full eToro review.

7. Interactive Brokers: direct market access for global CFDs

Why it ranks here. Interactive Brokers (AFSL 245574) gives Australian retail clients access to share CFDs across the world’s largest equity exchanges with direct market access pricing. Commissions on ASX share CFDs start at AUD 6. EU and US share CFD commissions are similarly low. The Trader Workstation platform is the most powerful on this list for traders who want depth-of-book, algorithmic order types, and a programmatic API.

Watch out for. Steeper learning curve than any other broker here. Onboarding is more documentation-heavy. The platform isn’t designed for casual users.

Read our full Interactive Brokers review.

8. FP Markets: best route to ASX share CFDs through IRESS

Why it ranks here. FP Markets (AFSL 286354) is one of two AU brokers on the shortlist that offers IRESS for share CFD trading. IRESS gives you institutional-grade depth-of-market and ASX integration that’s hard to match. Forex spreads on the Raw account are competitive (EUR/USD around 0.1 pips plus AUD 6 commission per round-turn lot). MT4, MT5, cTrader and TradingView are also available.

Watch out for. IRESS subscription tiers add a monthly cost if you don’t trade enough volume. Standard account spreads (without IRESS or Raw) are average rather than category-leading.

Read our full FP Markets review.

9. PU Prime: multi-asset CFDs from a Sydney-based broker

Why it ranks here. PU Prime Trading Pty Ltd (AFSL 410681) has operated from Sydney since 2011 and offers multi-asset CFDs across 70+ forex pairs, indices, commodities, crypto, share CFDs and ETFs. The Prime account prices EUR/USD from 0.0 pips raw plus around AUD 7 round-turn commission. Platform mix covers MT4, MT5 and the broker’s proprietary app, with a $50 minimum deposit. ASIC retail leverage caps apply across the board.

Watch out for. Smaller share CFD universe than CMC, IG or FP Markets. Educational content is thinner than the larger brands.

Read our full PU Prime review.

How CFD costs work in Australia

There are three cost lines on every CFD trade. Knowing them prevents the “why am I down on a winning trade” surprise.

Spread. The difference between the bid and ask. Expressed in pips for forex, points for indices, dollars or cents for shares and commodities. On a Standard / no-commission account, the spread is the entire cost. On a RAW or Razor or Raw Spread account, the spread is tighter and a separate commission is charged.

Commission. Charged per side or per round-turn on RAW-style accounts. AUD 7 round-turn per standard 100k lot is the typical AU benchmark on forex (Pepperstone Razor, IC Markets Raw Spread, FP Markets Raw). Share CFD commissions are charged separately, typically as a percentage of trade value with a minimum dollar floor. ASX share CFD commissions sit between AUD 6 and AUD 11 per side at most brokers on this list.

Overnight financing. Charged on positions held past the daily rollover (5pm New York time). For share CFDs, this is a daily charge based on a benchmark rate (usually the local cash rate or interbank rate) plus a broker margin (typically 2.5% to 3.5%). For forex CFDs, the cost is a swap reflecting the interest rate differential between the two currencies in the pair, which can be a credit or a debit depending on direction.

A worked example. You buy 1,000 BHP CFDs at AUD 45. The position value is AUD 45,000. Your margin (5:1 leverage cap on shares) is AUD 9,000. Daily overnight financing at, say, RBA cash rate plus 3% = around 7% annualised. Held five nights, that’s roughly AUD 43 in financing on top of any spread cost. Hold the same position three months and financing alone is around AUD 780. Long-term holders are usually better served by direct share investing than by a CFD.

CFD risks specific to Australian retail clients

CFDs are a high-risk product. The ASIC PIO exists because retail loss rates were unacceptable under prior leverage limits. Even with the new caps, the standardised risk warning on every AU broker’s site shows between 60% and 80% of retail accounts losing money over a rolling 12-month window depending on the broker. Take the risk seriously.

Leveraged loss. A 30:1 forex position can lose your full margin from a 3.3% adverse move. Stops slip on fast markets. Position-size for the margin you can afford to lose, not the notional you’d like to control.

Gap risk. Markets gap over weekends and around scheduled events. Stop-losses are not guaranteed unless you specifically use a Guaranteed Stop-Loss Order (GSLO) and accept the premium. CMC, IG, Plus500 and easyMarkets offer GSLOs in some form. Most other brokers don’t.

Broker insolvency. ASIC requires segregated client money at an Approved Australian Bank. This protects against misuse but doesn’t fully insulate you from a counterparty failure scenario, particularly on unrealised CFD profits which sit on the broker’s balance sheet. AFCA can resolve disputes but doesn’t insure deposits. The Compensation Scheme of Last Resort (CSLR) covers unpaid AFCA determinations from April 2024 but does not cover trading losses or general broker insolvency.

Concentration risk. Running multiple positions on correlated instruments (e.g. long EUR/USD plus short USD/JPY plus long gold) can expose you to a single underlying USD-direction risk that’s larger than each position implies on its own.

The mitigation playbook is well-known. Trade smaller. Use stops. Avoid leverage at the cap. Check the broker’s risk warning percentage before opening an account. Read the PDS.

Tax treatment for Australian CFD traders

The ATO generally treats profits from CFD and forex trading as assessable income rather than capital gains, under TR 2005/15. The view is that CFDs are a trading activity rather than an investment, given the leverage and short-term nature of most CFD positions. Losses are typically deductible against other assessable income.

There are edge cases. A genuine business of trading is treated differently from a hobbyist account. Holding CFDs on dividend-paying shares creates dividend-equivalent income on which the broker withholds at the contract level. Foreign-currency CFDs may produce small foreign income tax implications. None of this is straightforward.

We are not licensed to provide tax advice. Speak to a registered tax agent about your circumstances. The ATO’s website has a useful summary under “CFDs and forex” that’s worth reading once a year before tax time.

How to choose between platforms

A short decision framework based on what you trade.

If you trade ASX shares and intraday CFDs in the same workflow: CMC Markets or FP Markets (IRESS).

If you want the broadest possible product range: IG Markets or CMC Markets.

If forex is 80%+ of what you do: Pepperstone, IC Markets, or Fusion Markets if you want to trim cost further.

If you’re brand new to CFDs and want the lowest cognitive load: Plus500 or eToro.

If you want copy or social trading: eToro (the only meaningful AU option for this).

If you need direct market access and global share CFDs: Interactive Brokers.

If you want a fixed-spread alternative for predictability around news: see our fixed spread brokers guide.

CFD sub-classes covered separately

• Crypto CFDs are capped at 2:1 retail leverage in Australia, the strictest tier in the PIO. Eightcap leads on range, IC Markets and Pepperstone on cost.
• Treasuries (bond) CFDs are a niche but useful product for rate traders. CMC Markets and IG Markets are the only ASIC brokers offering meaningful coverage.

For a deeper view across the AU market, see our overall best forex brokers in Australia ranking.