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Best CFD brokers in Australia in 2023 - Top CFD trading platforms

TOP
1
AFSL 491139. Capital at risk. See PDS and TMD.
TOP
2
80% of retail CFD accounts lose money
TOP
3
86% of retail CFD accounts lose money
TOP
4
75% of retail CFD accounts lose money
TOP
5
72% of retail CFD accounts lose money
TOP
6
74-85% of retail CFD accounts lose money
TOP
7
76% of retail CFD accounts lose money
TOP
8
74-89% of retail CFD accounts lose money
TOP
9
74.89% of retail CFD accounts lose money
TOP
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71% of retail CFD accounts lose money
  1. eToro is the winner, the best CFD broker in Australia in 2023. - Free stock and ETF trading. Seamless account opening. Social trading.
  2. Admirals (Admiral Markets) - Low forex CFD fees. Free and fast deposit and withdrawal. Straightforward account opening.
  3. Plus500 - Easy-to-use platform. Great account opening. Quick and helpful customer support.
  4. IG - First-class web trading platform. Superb educational tools. Great deposit and withdrawal options.
  5. City Index - Low fees for forex. Fast and smooth account opening. Diverse research tools.
  6. ActivTrades - Low trading fees. Excellent account opening. Free deposit and withdrawal.
  7. CMC Markets - Low forex fees. Great web and mobile platforms. Advanced research and educational tools.
  8. MultiBank - Quick and easy account opening. Free and varied deposit and withdrawal options. Fast and helpful customer service.
  9. XM - Low stock CFD and withdrawal fees. Easy and fast account opening. Great educational tools.
  10. AvaTrade - Easy and fast account opening. Free deposit and withdrawal options. Great research tools.

Best CFD brokers
Comparison of top CFD brokers and trading platforms in Australia in 2023

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

Broker
Negative balance protection for any product
Minimum deposit
eToro
$10
For Israeli clients, the minimum first-time deposit is $10,000. For residents of Australia and the US, it is $50, while for residents of Russia, China, Hong Kong, Taiwan and Macau, it is $500.
Admirals (Admiral Markets)
$100
100 EUR/GBP/USD/CHF or 200 BGN or 1000 CZK or 750 HRK or 25000 HUF or 250 PLN/RON
Plus500
$100
$100 for credit/debit cards and electronic wallets; $500 for bank transfers
IG
$0
No minimum deposit for bank transfers; $300 minimum for credit/debit cards and PayPal
City Index
$0
No minimum deposit is required
ActivTrades
$0
There is no minimum deposit
CMC Markets
$0
No minimum deposit
MultiBank
$200
$200 for Standard accounts, $1,000 for MultiBank Pro accounts, and $10,000 for ECN Pro accounts
XM
$5
$5 minimum deposit for standard account, $100 for Zero account
AvaTrade
$100
$100 minimum deposit for credit/debit cards, bank transfer and electronic wallets
Best CFD brokers and trading platforms in Australia in 2023

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.

Popularity

Best CFD brokers
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 the most important CFD costs, which you can see in the table below. 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
Euro Stoxx 50 CFD spread
eToro
0.8
Usual spread in trading time
3.0
Usual spread in trading time
Admirals (Admiral Markets)
0.2
Usual spread in trading time
1.0
Usual spread in trading time
Plus500
0.7
Usual spread in trading time
2.0
Usual spread in trading time
IG
0.4
Usual spread in trading time
1.5
Usual spread in trading time
City Index
0.4
Usual spread in trading time
1.9
Usual spread in trading time
ActivTrades
0.2
Usual spread in trading time
0.9
Usual spread in trading time
CMC Markets
0.6
Usual spread in trading time
1.6
Usual spread in trading time
MultiBank
0.3
Usual spread in trading time
2.1
Usual spread in trading time
XM
0.4
Usual spread in trading time
2.5
Usual spread in trading time
AvaTrade
0.5
Usual spread in trading time
2.0
Usual spread in trading time
Trading fees at the top CFD brokers in Australia in 2023

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

Best CFD brokers
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
Account fee
Inactivity fee
eToro
No account fee
$10 per month after one year inactivity. Inactivity means that you don't log in to your account
Admirals (Admiral Markets)
No account fee.
€10 per month after 2 years of inactivity. Only charged if your account balance is greater than zero
Plus500
No account fee
$10 per month after 3 months of inactivity. Inactivity means that you don't log in to your account
IG
No account fee
$/£12/€14 per month after 2 years of inactivity
City Index
No account fee
£12 per month after one year of inactivity
ActivTrades
No account fee
If the account is not used for over 1 year and there is a remaining balance, a fee of £10 per month will be charged
CMC Markets
No account fee
£10 monthly fee after 12 months of inactivity
MultiBank
No account fee
60 USD/month after 3 consecutive months of inactivity
XM
No account fee
$15 one-off maintenance fee after one year of inactivity, followed by $5 per month fee if the account remains inactive
AvaTrade
No account fee
$50 per quarter after 3 months of inactivity; after 12 straight months of non-use, a further annual administration fee of $100 is charged
Non-trading fees at the top CFD brokers in Australia in 2023

Best CFD brokers
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
eToro
Admirals (Admiral Markets)
Plus500
IG
City Index
ActivTrades
CMC Markets
MultiBank
FALSE
XM
AvaTrade
Product selection besides CFDs at the top CFD brokers in Australia in 2023

Best CFD brokers
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, eToro.

eToro Logo

#1 Best cfd broker
eToro

eToro is a well-known Israeli fintech company and a social trading broker, established in 2007.

Check out our eToro review tailored to the needs of beginner investors and traders.

eToro serves UK clients through a unit regulated by the Financial Conduct Authority (FCA) and Australians through an Australian Securities and Investment Commission (ASIC)-regulated entity. All other customers are served by a Cypriot unit that is regulated by the Cyprus Securities and Exchange Commission (CySEC).

eToro is not listed on any stock exchange, does not disclose its annual report on its website and does not have a bank parent.

Being regulated by the top-tier FCA and ASIC is a good sign for eToro's safety.

HEADS UP: Minimum deposit based on residency and account activation – Be sure to check the minimum deposit that is required to activate your account. After uploading your documents, a deposit is also needed in order to make trades. The amount of the deposit required is based on your residency, and ranges from $10 to $10,000. More details are available in the review’s Account opening section.

eToro USA LCC does not offer CFDs, only real Crypto assets available.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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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 CFDs16
Commodity CFDs24
Deposit methodsBank transfer, Credit/debit cards, PayPal, Skrill, Neteller, China UnionPay, Klarna, POLi, iDEAL
Withdrawal fee$5
Read reviewFor a detailed analysis of eToro services, check out our review for 2023
Admirals (Admiral Markets) Logo

#2 Best cfd broker
Admirals (Admiral Markets)

Admirals (Admiral Markets) is a Global forex and CFD broker founded in 2001. It is overseen by multiple regulators in the various regions it serves. These regulators are the UK's Financial Conduct Authority (FCA), the Estonian Financial Supervision Authority (EFSA), the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investment Commission (ASIC) and the Jordan Securities Commission (JSC). Of these, the FCA and the ASIC are top-tier financial authorities.

Admirals is considered safe because it has a long track record, discloses its financials, and its parent company, the Admirals Group is listed on a stock exchange.

Admirals was formerly called Admiral Markets, but it is currently going trough a rebranding process. This should be of no concern to clients, as this doesn't affect the broker's services in any negative way.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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80% of retail CFD accounts lose money

Admirals (Admiral Markets) snapshot
Minimum deposit$100
Mobile app score 3.8 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 2023
Plus500 Logo

#3 Best cfd broker
Plus500

Plus500 is a London Stock Exchange-listed global CFD broker that was founded in 2008 in Israel. It is regulated by several international financial authorities, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

Plus500 has three different platfroms, Plus500 CFD, where you can trade CFDs, Plus500 Invest, where you can trade stocks and Trade Sniper, where you can trade futures. Trade Sniper is only available for US citizens.

Being listed on a stock exchange, regulated by several top-tier financial authorities, and disclosing its financials publicly are all good signs for Plus500's reliability.

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86% of retail CFD accounts lose money

Plus500 snapshot
Minimum deposit$100
Mobile app score 5.0 stars
Stock CFDs1,900
Stock index CFDs29
Commodity CFDs22
Deposit methodsBank transfer, Credit/debit cards, PayPal, Skrill
Withdrawal fee$0
Read reviewFor a detailed analysis of Plus500 services, check out our review for 2023
IG Logo

#4 Best cfd broker
IG

IG, established in the UK in 1974, is one of the biggest CFD brokers in the world. It is regulated by several bodies globally, including top-tier regulators like the UK's Financial Conduct Authority (FCA) and Germany's Federal Financial Supervisory Authority (BaFin). IG Group is listed on the London Stock Exchange.

IG is considered safe because it is listed on a stock exchange, discloses its financials and is overseen by top-tier regulators.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are not provided for US clients. Forex trading involves risk. Losses can exceed deposits.

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75% of retail CFD accounts lose money

IG snapshot
Minimum deposit$0
Mobile app score 5.0 stars
Stock CFDs10,500
Stock index CFDs78
Commodity CFDs47
Deposit methodsBank transfer, Credit/debit cards, PayPal
Withdrawal fee$0
Read reviewFor a detailed analysis of IG services, check out our review for 2023
City Index Logo

#5 Best cfd broker
City Index

City Index is a global CFD and FX broker founded in 1983. City Index is the trading brand of StoneX Financial Ltd., whose parent company StoneX Group Inc. is listed on the NASDAQ Stock Exchange. The company is regulated by top-tier financial authorities, such as the UK's Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC) and the Monetary Authority of Singapore (MAS). 

City Index is considered safe because it has a long track record, it is regulated by top-tier financial authorities, and its parent company is listed on a stock exchange.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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72% 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 CFDs41
Deposit methodsBank transfer, Credit/debit cards, PayPal
Withdrawal fee$0
Read reviewFor a detailed analysis of City Index services, check out our review for 2023
ActivTrades Logo

#6 Best cfd broker
ActivTrades

ActivTrades is a global forex broker founded in 2001. It is regulated among others by the UK's Financial Conduct Authority (FCA) and the Commission de Surveillance du Secteur Financier (CSSF) of Luxembourg.

ActivTrades having a long track record and being regulated by the FCA, a top-tier financial authority, are all good signs for its safety.

ActivTrades operates both UK and EU websites (under the co.uk and .eu domains), as well as an international one (.com). Some products, fees and conditions may differ depending on the entity concerned.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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74-85% of retail CFD accounts lose money

ActivTrades snapshot
Minimum deposit$0
Mobile app score 3.9 stars
Stock CFDs1,000
Stock index CFDs31
Commodity CFDs22
Deposit methodsBank transfer, Credit/debit cards, Neteller, Skrill, AstroPay, Sofort
Withdrawal fee$0
Read reviewFor a detailed analysis of ActivTrades services, check out our review for 2023
CMC Markets Logo

#7 Best cfd broker
CMC Markets

CMC Markets is a global CFD and forex broker, founded in 1989. It is regulated by several authorities globally, including the top-tier UK Financial Conduct Authority (FCA). The company is also listed on the London Stock Exchange.

Having a long track record, being listed on a stock exchange and being regulated by top-tier authorities are great signs for CMC Markets' reliability.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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76% of retail CFD accounts lose money

CMC Markets snapshot
Minimum deposit$0
Mobile app score 5.0 stars
Stock CFDs10,000
Stock index CFDs88
Commodity CFDs123
Deposit methodsBank transfer, Credit/debit cards, PayPal
Withdrawal fee$0
Read reviewFor a detailed analysis of CMC Markets services, check out our review for 2023
MultiBank Logo

#8 Best cfd broker
MultiBank

MultiBank is a global CFD and FX broker. MultiBank Group was established in California, USA, in 2005 with headquarters in Hong Kong. They are a global financial group whose member companies are active in areas from asset management to brokerage. MultiBank's brokerage service is operating under several legal entities, regulated by the Australian Securities and Investments Commission (ASIC) and other financial authorities. In this review, we will use MultiBank as a name for the brokerage service.

MultiBank is considered safe because it is regulated by the top-tier ASIC and has a reasonably long history, dating back to 2005.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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74-89% of retail CFD accounts lose money

MultiBank snapshot
Minimum deposit$200
Mobile app score 3.8 stars
Stock CFDs20,000
Stock index CFDs27
Commodity CFDs13
Deposit methodsBank transfer, Credit/debit cards, Neteller, Skrill, Sepa, Praxis, Bitcoin, tether, myFatoorah, pagsmile,Paytrust, PlusWallets, Thai QR payment, PaymentAsia, GlobePay, korapay, Boletol, Pay Retailers, pix, SPE, dragonpay, GCash
Withdrawal fee$0
Read reviewFor a detailed analysis of MultiBank services, check out our review for 2023
XM Logo

#9 Best cfd broker
XM

XM is an online broker whose parent company is Trading Point Holding, a global CFD and FX broker founded in 2009.

XM is available globally and is regulated by three financial authorities: the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC) and the Financial Services Commission of Belize (FSC).

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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74.89% of retail CFD accounts lose money

XM snapshot
Minimum deposit$5
Mobile app score 3.8 stars
Stock CFDs1,261
Stock index CFDs24
Commodity CFDs15
Deposit methodsBank transfer, Credit/debit cards, Skrill, Neteller for withdrawal, Sticpay for Deposit (under IFSC)
Withdrawal fee$0
Read reviewFor a detailed analysis of XM services, check out our review for 2023
AvaTrade Logo

#10 Best cfd broker
AvaTrade

AvaTrade is a global CFD and forex broker founded in 2006. It is regulated by several top-tier financial authorities, including the Central Bank of Ireland.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Visit broker
71% of retail CFD accounts lose money

AvaTrade snapshot
Minimum deposit$100
Mobile app score 4.7 stars
Stock CFDs612
Stock index CFDs31
Commodity CFDs19
Deposit methodsBank transfer, Credit/debit cards, PayPal, Neteller, Skrill, Klarna, Webmoney, POLi, Boleto, Perfect Money
Withdrawal fee$0
Read reviewFor a detailed analysis of AvaTrade services, check out our review for 2023

Best CFD brokers
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Best CFD brokers
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,
  • Checked minimum deposit requirements,
  • Looked at the range of CFDs available,
  • Opened an account and tested the platform (charting, features, usability) with real money.
Save hours of research!
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology.

BrokerChooser evaluates 9 key areas for all brokers including fees, safety, ease of account opening, education, and trading platforms. We check more than 500 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 50,000 data points overall.

Author of this article

Krisztián Gátonyi

Author of this article

Krisztián has 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. Since joining BrokerChooser, he analyzed and tested 50+ brokers. He received his MSc degree in International Business from the University of Middlesex. He is also interested in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Krisztián Gátonyi

Senior Broker Expert

Krisztián has 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. Since joining BrokerChooser, he analyzed and tested 50+ brokers. He received his MSc degree in International Business from the University of Middlesex. He is also interested in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

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

Visit eToro
AFSL 491139. Capital at risk. See PDS and TMD.
Visit Admirals (Admiral Markets)
80% of retail CFD accounts lose money
Visit Plus500
86% of retail CFD accounts lose money
Visit IG
75% of retail CFD accounts lose money
Visit City Index
72% of retail CFD accounts lose money
Visit ActivTrades
74-85% of retail CFD accounts lose money
Visit CMC Markets
76% of retail CFD accounts lose money
Visit MultiBank
74-89% of retail CFD accounts lose money
Visit XM
74.89% of retail CFD accounts lose money
Visit AvaTrade
71% of retail CFD accounts lose money

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