CFD trading in Australia is one of the activities that traders use to make money. However, the activity is not as easy as you may think since it has various risks. You need to manage these risks effectively for you to profit from the Australian market. One of the best approaches to CFD trading is using the best CFD brokers and providers in Australia, which you can only identify with thorough research.
The good news is that OnlineTrading experts did all the legwork. So, all you have to do is choose the best CFD broker in Australia that meets your trading needs.
In this guide
Best CFD Brokers and Providers in Australia
-
Compare Best CFD Brokers and Providers in Australia of 2023
- 1. CMC Markets – Overall Best CFD Broker in Australia
- 2. Forex.com – Best CFD Forex Broker in Australia
- 3. IG Markets – Best CFD Stock Broker in Australia
- 4. IBKR – The Cheapest CFD Broker in Australia
- 5. AvaTrade – The Safest CFD Broker in Australia
- 6. Plus500 – One of the Best CFD Providers for Mobile Trading in Australia
- How to Choose the Best CFD Brokers and Providers in Australia
- FAQs
- Conclusion
How we test?
OnlineTrading aims to provide quality, simple, and proven information to its readers. Our team of financial experts carefully checks every detail to provide a unique and comprehensive guide to safe trading around the world.
Feedback from regular users is very important to us, so we try to consider the opinions of reviews and feedbacks from several trusted platforms. We spend about 100 – 250 hours analysing and collecting information on each trading platform to ensure our recommendations are reliable.
Naturally, we always remain impartial, honest and recommend only licensed and reliable brokers.
Compare Best CFD Brokers and Providers in Australia of 2023
Conducting research on the best CFD brokers and providers in Australia was not a walk in the park, and we spent hours in this process. We started with selecting as many CFD brokers and providers as we could and compared their features to identify the ones that meet our specific requirements. The determining factors were:
- Licenses/Regulations
- Platform performances and offerings
- Trading and non-trading charges
- Modes of payment
- Demo accounts
- Customer service
In addition to comparing CFD brokers and providers in Australia’s features, we also reviewed over 160k user ratings and comments on Google Play, the App Store and Trustpilot. The findings from these processes were combined to get the best recommendations as listed below.
That being said, here is a sample table showing how we rated these brokers and providers.
Compare brokers
1. CMC Markets – Overall Best CFD Broker in Australia
CMC Markets has over 30 years of experience in the trading industry and multiple brokerage licenses, making it a trusted broker in Australia, let alone globally. You can also benefit from various elements as an Australian CFD trader, including over 9,500 instruments. As a result, it’s easier for you to maximise your potential through portfolio diversification.
Australian CFD traders should also consider this broker because it charges one of the lowest trading fees. It also does not have a minimum deposit requirement and zero charges on transactions. For any CFD trader, this saves you from trading CFDs using too big of a budget.
CMC Markets also executes trades fast, allowing Australian CFD traders to take advantage of the volatile markets to earn from them. What’s more, this CFD broker has a reliable mobile app for you to manage your trading accounts anywhere, anytime.
✔Excellent research and educational tools
- Thousands of CFD instruments to trade with.
- No minimum account deposit.
- Excellent learning and research resources for CFD trading.
- The availability of its customer service is only five days a week.
- No two-step or safe login procedure.
2. Forex.com – Best CFD Forex Broker in Australia
The Australian currency market is liquid, and one of the best approaches to succeeding in this market is by trading forex CFD with Forex.com. This is because this CFD broker hosts over 90 currency pairs, which we believe are plenty enough compared to what most of its peers offer.
Forex CFD trading with Forex.com is also budget efficient. You will incur low spreads starting from $0.11 on its DMA account. What’s more, Australian CFD traders can enjoy the MT4 and MT5 platforms, which are known to offer excellent trading tools, including advanced charting, SMART signals, and more.
For CFD traders looking to improve their skill level, this broker offers learning videos and guides for this purpose. You can also take advantage of its demo account and practice CFD trading on the Australian market before signing up for a live trading account.
✔ Great variety of currency pairs
- $100 minimum deposit, which is among the lowest in the Australian market.
- Plenty of currency pairs provided.
- Free transactions – deposits and withdrawals.
- Inactivity charges apply after one year.
- Customer service is active only five days a week.
3. IG Markets – Best CFD Stock Broker in Australia
IG Markets has a cutting-edge platform with fast order execution speed that Australian CFD traders should take advantage of. You also have countless trading opportunities across over 17,000 CFD instruments. So it’s a no-brainer that IG Markets will maximise your potential, whether you are trading CFDs on forex, shares, commodities, indices and more.
CFD traders can also profit from international markets using IG Markets. The broker also offers an IG Community platform for interacting with other global CFD traders to learn from their ideas. Additionally, you get to trade with excellent research tools. For those CFD traders looking for specialised features, you have three platforms to choose from, including the L-2 Dealer, MT4, and ProRealTime.
Lastly, IG Markets has an IG Academy platform for CFD beginners in Australia. You can build your skills with free online courses, webinars, articles and more. This broker also offers a demo account for traders with no experience with it.
✔ Fast and responsive trading platform.
- Over 17,000 CFD instruments.
- Advanced platforms are offered, including the MT4, L-2 Dealer, and ProRealTime.
- World-class research materials.
- Its $300 minimum deposit requirement is high for most Australian CFD traders.
- CFD trading charges are high.
4. IBKR – The Cheapest CFD Broker in Australia
Interactive Brokers (IBKR) is also one of the pioneer CFD traders in Australia, and it is regulated by the Australian Securities and Investment Commission (ASIC). It is undoubtedly safe to trade with and offers one of the best trading tools for market research. This includes a wide range of CFD instruments on forex, shares, metal, and index.
This CFD broker is the cheapest in Australia because it charges low commissions starting from 0.05% on all share CFDs. Financing costs are also low, with zero minimum deposit requirement. In addition, deposits and withdrawals are free, and there are no inactivity charges. This allows the Australian budget-conscious traders to also have a shot at the CFD markets while trading on one of the best platforms.
IBKR provides several learning resources for both new and professional traders to better understand the financial markets and technology. Should you require guidance or clarifications, feel free to contact its customer service for relevant answers.
✔ Wide range of products
- Low CFD trading charges.
- No minimum account deposit.
- Low financing charges for CFD positions left overnight.
- Australian newbies can have challenges navigating through its platform.
- Only five days a week customer service.
5. AvaTrade – The Safest CFD Broker in Australia
Although all CFD brokers in Australia referenced here are safe to trade with, AvaTrade takes the lead because of various reasons. For starters, it is regulated across more than seven jurisdictions, with Australia being one of them. It also has a user-friendly and intuitive design platform that will engage Australian traders for a more extended period.
AvaTrade offers over 1,200 CFD instruments to choose from, including indices, shares, commodities, and bonds. To access these CFD assets, a minimum deposit of $100 is required. What’s more, its AvaTradeGO app is highly rated by Australian CFD traders on Google Play and the App Store, which is why you should also consider installing it on your mobile device.
This CFD broker hosts some of the world-class trading platforms, including the MT4 and MT5. You can also utilise its DupliTrade and ZuluTrade platforms for socialising with your peers across the globe and mirror trades with higher profit potential.
✔Excellent research tools