Best CFD brokers in Australia in 2024 - Top CFD trading platforms

Written by
Krisztián G.
Fact checked by
Tamás D.
Updated
May 2024

Find below the strengths of the best CFD brokers available in Australia, updated for 2024:

  1. Saxo is the winner, the best CFD broker in Australia in 2024. - Great trading platform. Outstanding research. Broad product portfolio. Interest paid on uninvested cash.
  2. Admirals (Admiral Markets) - Low forex CFD fees. Free and fast deposit and withdrawal. Straightforward account opening.
  3. IC Markets - Low forex fees. Easy and fast account opening. Free deposit and withdrawal. Offers standard and raw spread accounts.
  4. eToro - Free stock and ETF trading. Seamless account opening. Social trading.
  5. Capital.com - Low forex CFD fees. Great account opening experience. Excellent email and chat support.
  6. FxPro - Superb account opening process. Great customer service. Free deposit and withdrawal.
  7. FXTRADING.com - Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
  8. City Index - Low fees for forex. Fast and smooth account opening. Diverse research tools.
  9. Pepperstone - Fast and fully digital account opening. Seamless and free deposit and withdrawal. Great educational materials.
  10. Oanda - Great trading platforms. Outstanding research tools. Fast and user-friendly account opening.
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Comparison of top CFD brokers and trading platforms in Australia in 2024

While many CFD brokers catering to clients in Australia offer an excellent service, the ones in our toplist go the extra mile.

Broker
Minimum deposit
Time to open account
Saxo
$0
1 day
Admirals (Admiral Markets)
$100
1 day
IC Markets
$200
1 day
eToro
$10
1 day
Capital.com
$20
1 day
FxPro
$100
1 day
FXTRADING.com
$50
1 day
City Index
$0
1 day
Pepperstone
$0
1 day
Oanda
$0
1-3 days
Best CFD brokers and trading platforms in Australia in 2024

Popularity of the best CFD brokers in Australia

Interested in what others think? Here's how many people chose these brokers at BrokerChooser in the last 6 months.

Trading fees at the top CFD brokers in Australia

How much you pay in fees for a given CFD trade is a key broker selection criteria. We calculated a benchmark fee for stock CFDs. This is the total of how much you have to pay in spreads, commissions and other costs for each asset class if you open a position and hold it for a week before closing.

Broker
S&P 500 CFD spread
Apple CFD fee
Saxo
0.5
$11.6
Admirals (Admiral Markets)
0.4
$3.7
IC Markets
0.2
$1.6
eToro
0.8
$8.5
Capital.com
0.8
$5.0
FxPro
1.0
$5.1
FXTRADING.com
0.3
-
City Index
0.4
$23.2
Pepperstone
0.4
$4.5
Oanda
0.3
$3.3
Trading fees at the top CFD brokers in Australia in 2024

If you are unsure how brokerage fees work, check out this article on the various fees, charges and costs.

Non-trading fees at the best CFD brokers in Australia

Non-trading fees are charges not directly related to a given trade and typically include the account maintenance fee, deposit/withdrawal fees, and the inactivity fee.

Broker
Withdrawal fee
Inactivity fee
Saxo
$0
Admirals (Admiral Markets)
$0
IC Markets
$0
eToro
$5
Capital.com
$0
FxPro
$0
FXTRADING.com
$0
City Index
$0
Pepperstone
$0
Oanda
$0
Non-trading fees at the top CFD brokers in Australia in 2024

Product selection at the top CFD brokers in Australia

The brokerages in our toplist offer a range of products in addition to CFDs. See what else you can trade at the best CFD brokers.

Broker
Stocks
ETFs
Saxo
Admirals (Admiral Markets)
IC Markets
eToro
Capital.com
FxPro
FXTRADING.com
City Index
Pepperstone
Oanda
Product selection besides CFDs at the top CFD brokers in Australia in 2024

CFD trading in Australia

Trading CFDs is legal in Australia and the Australian Securities and Investment Commission (ASIC) does an excellent job at regulating the market and the service providers. Before you open an account with a broker, make sure it's regulated by ASIC or another top-tier regulator such as the FCA in the UK or BaFin in Germany.

ASIC imposed a set of conditions on the issue and distribution of CFDs in 2021 that the regulator plans to keep in place until May 2027. The limitations are the following:

  • leverage ratio limits ranging from 30:1 to 2:1
  • standardisation of margin-close out rules
  • negative balance protection
  • prohibitions on offering or giving of certain inducements

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. If you are not familiar with CFDs, start by reading our guide to CFD trading.

And now, let's see the best CFD brokers for Australians one by one, starting with the winner, Saxo.

Visit broker

Saxo snapshot
Minimum deposit$0
Mobile app score 5.0 stars
Stock CFDs7,800
Stock index CFDs20
Commodity CFDs20
Deposit methodsBank transfer, Credit/debit cards
Withdrawal fee$0
Read reviewFor a detailed analysis of Saxo services, check out our review for 2024

Visit broker
80% of retail CFD accounts lose money

Admirals (Admiral Markets) snapshot
Minimum deposit$100
Mobile app score 4.3 stars
Stock CFDs3,445
Stock index CFDs40
Commodity CFDs28
Deposit methodsBank transfer, Credit/debit cards, Skrill, PayPal, Klarna, Neteller, SafetyPay, AstroPay, Trustly, Rapid Transfer, NganLuong
Withdrawal fee$0
Read reviewFor a detailed analysis of Admirals (Admiral Markets) services, check out our review for 2024

Visit broker
70.64% of retail CFD accounts lose money

IC Markets snapshot
Minimum deposit$200
Mobile app score 3.3 stars
Stock CFDs2,100
Stock index CFDs25
Commodity CFDs28
Deposit methodsBank transfer, Credit/debit cards, PayPal, Skrill, Neteller, Visa Direct, SafeCharge, Transact365, eCommPay, CardPay, Bpay, FasaPay, Poli, RapidPay, Klarna
Withdrawal fee$0
Read reviewFor a detailed analysis of IC Markets services, check out our review for 2024

Visit broker
AFSL 491139. Capital at risk. See PDS and TMD.

eToro snapshot
Minimum deposit$10
Mobile app score 4.9 stars
Stock CFDs2,000
Stock index CFDs20
Commodity CFDs32
Deposit methodsBank transfer, Credit/debit cards, eToro Money, Neteller, Skrill, Trustly, iDEAL, Przelewy 24, RapidTransfer, Klarna, Giropay
Withdrawal fee$5
Read reviewFor a detailed analysis of eToro services, check out our review for 2024

Visit broker
80.84% of retail CFD accounts lose money

Capital.com snapshot
Minimum deposit$20
Mobile app score 4.9 stars
Stock CFDs2,760
Stock index CFDs20
Commodity CFDs30
Deposit methodsBank transfer, Credit/debit cards, Apple Pay, PayPal, Neteller, Skrill, Sofort, Trustly
Withdrawal fee$0
Read reviewFor a detailed analysis of Capital.com services, check out our review for 2024

Visit broker
74% of retail CFD accounts lose money

FxPro snapshot
Minimum deposit$100
Mobile app score 3.8 stars
Stock CFDs2,000
Stock index CFDs29
Commodity CFDs25
Deposit methodsBank transfer, Credit/debit cards, PayPal, Skrill, Neteller
Withdrawal fee$0
Read reviewFor a detailed analysis of FxPro services, check out our review for 2024

Visit broker
74-89% of retail CFD accounts lose money

FXTRADING.com snapshot
Minimum deposit$50
Mobile app score 3.8 stars
Stock CFDs10,000
Stock index CFDs17
Commodity CFDs16
Deposit methodsBank transfer, Credit/debit cards, PayPal, Neteller, UnionPay, USDT
Withdrawal fee$0
Read reviewFor a detailed analysis of FXTRADING.com services, check out our review for 2024

Visit broker
69% of retail CFD accounts lose money

City Index snapshot
Minimum deposit$0
Mobile app score 4.5 stars
Stock CFDs4,700
Stock index CFDs40
Commodity CFDs20
Deposit methodsBank transfer, Credit/debit cards, PayPal
Withdrawal fee$0
Read reviewFor a detailed analysis of City Index services, check out our review for 2024

Visit broker
75.2% of retail CFD accounts lose money

Pepperstone snapshot
Minimum deposit$0
Mobile app score 3.3 stars
Stock CFDs1,400
Stock index CFDs23
Commodity CFDs40
Deposit methodsBank transfer, Credit/debit cards, POLi, BPay, PayPal, Neteller, Skrill, Union Pay, MPESA+FaceID
Withdrawal fee$0
Read reviewFor a detailed analysis of Pepperstone services, check out our review for 2024

Visit broker
78.3% of retail CFD accounts lose money

Oanda snapshot
Minimum deposit$0
Mobile app score 4.9 stars
Stock CFDs1,600
Stock index CFDs15
Commodity CFDs31
Deposit methodsBank transfer, Credit/debit cards, PayPal, Skrill, Neteller
Withdrawal fee$0
Read reviewFor a detailed analysis of Oanda services, check out our review for 2024

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How did BrokerChooser select the best CFD brokers in Australia?

  • We checked whether the broker is regulated by a trusted regulator,
  • Compared fees (including spreads, withdrawal fee, commission),
  • Specifically compared CFD fees,
  • Looked at the range of CFDs available,
  • Opened an account and tested the platform (charting, features, usability) with real money.

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BrokerChooser evaluates 9 key areas for all brokers including fees, safety, ease of account opening, education, and trading platforms. We check more than 600 criteria for each broker and finetune our methodology every year based on our own and our users' experiences. We have more than 100 brokers reviewed on our site and our team of analysts examines more than 60,000 data points overall.
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Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

author image
Krisztián Gátonyi
Author of this article
I have 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. I'm actively involved in reviewing the 100+ brokers listed on our site. I personally open accounts with real money, execute trades, test customer services. I hold an MSc in International Business from the University of Middlesex. My purpose is to help people find the best investment provider.
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