The Best CFD Trading Platforms For Australia

IC Markets – Best For CFD Range Of Markets Trading Platforms

IC Markets ranks for the best CFD trading platforms with the largest list of global markets. IC Markets is the trading name of International Capital Markets Pty Ltd, an issuer of over-the-counter high-risk instruments – Contracts for Difference (CFDs). It is granted an Australian financial services license (AFSL) by the Australian Securities and Investments Commission (ASIC) to provide financial services in the country.

Note* Additionally, IC Markets (EU) Ltd is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).

Trading CFDs with IC Markets

With IC Markets, Australia-based retail customers are granted market access to a wide range of asset classes through 3 powerful trading platforms:

• MetaTrader 4
• MetaTrader 5
• cTrader

The broker offers CFDs on 7 underlying assets as follows:

• Forex – 60 major, minor and exotic currency pairs with a maximum leverage of 1:500 and variable spreads of as low as 0.0 pips on EUR/USD or AUD/USD, traded on the broker’s Raw Spread trading account. The minimum spread on EUR/USD or AUD/USD is 1.0 pip on IC Markets’ Standard Account. The margin requirement for Forex is 0.2%,
• Indices – 17 major Indices with a maximum leverage of 1:200, no commissions and variable spreads of as low as 0.95 points on Australia S&P ASX 200 Index and 0.60 points on US S&P 500 Index. The margin requirement for Indices is 0.5%, with the exception of the FTSE China 50 Index (1.0%),
• Commodities – over 19 Soft Commodities, Energies and Metals with a maximum leverage of 1:500 and variable spreads of as low as 0.04 points on US Crude Oil Futures and 0.30 points on Coffee Futures. The minimum spread on Spot Gold is 0.0 points on the broker’s Raw Spread trading account and 1.0 point on the Standard Account. The commission for trading Metals CFDs on ECN-style trading account (Raw Spread) is AUD$7.00 per round turn lot, while CFDs on Energies and Soft Commodities are traded with no commission,
• Stocks – over 120 large-cap Stocks traded on the ASX, NYSE and NASDAQ, accessed via the broker’s MetaTrader 5. The maximum leverage offered is 1:20, while the margin requirement is 5%,
• Bonds – 9 Bond CFD contracts with a maximum leverage of 1:200, no commissions and spreads of as low as 0.02 points on UK Long Gilt and 0.022 points on US 10-Year T-Note. The margin requirement for Bonds is 0.5%,
• Cryptocurrencies – 10 digital currencies with a maximum leverage of 1:5 and variable spreads of as low as 5.0 points on Bitcoin and 4.0 points on Ethereum. The margin requirement for Cryptocurrencies is 20%,
• Futures – 4 Global Futures contracts traded with a maximum leverage of 1:200, no commissions and spread of 15.0 points on CBOE VIX Index and 5.0 points on ICE Dollar Index. The margin requirement for CBOE VIX Index Futures is 1%, while that for ICE Dollar Index Futures – 0.5%.

MetaTrader 4 Raw Spread Commissions

Depending on the account base currency and traded volume (Micro or Standard Lots), ICE Markets will charge commissions on its MT4 Raw Spread Account as follows:

Trading 1 Standard Lot with AUD as the base currency will be associated with a commission of AUD$7.00 per round turn.

cTrader Commissions

ICE Markets will charge a commission per side, per 1 Standard Lot traded on its cTrader platform – $3.00 USD per 100,000 USD traded. We should note that the US Dollar amount of the commission is then converted to the client’s account base currency at the current spot rate. An example for trading 1 Standard Lot in EUR/USD on cTrader and the associated commission is provided below:

Final Words – IC Markets Best CFD Broker for Range of Asset Classes

IC Markets’ attractive list of CFD products along with raw spreads starting from 0.0 pips, fast order speeds of 40ms, deep liquidity pool, reduced slippage and powerful trading platforms, makes this CFD provider a top choice for retail traders. Australian residents can open a CFD trading account with IC Markets with a minimum deposit of $200 or equivalent in Australian dollars.

Plus500 – Best For CFD Trading Platform For Risk Management

Among the online CFD providers we evaluated, Plus500 has the best CFD trading platform equipped with trading risk management tools. Plus500 is the trading name of Plus500 Ltd, a globally recognized Forex and CFD provider with more than a decade of business history. Plus500 Ltd is the parent company of:

• Plus500AU Pty Ltd, regulated by the ASIC (Australia), the FMA (New Zealand) and the FSCA (South Africa)
• Plus500UK Ltd, regulated by the UK’s FCA
• Plus500CY Ltd, regulated in Europe by the CySEC
• Plus500SEY Ltd, regulated by the Seychelles Financial Services Authority
• Plus500SG Pte Ltd, regulated by the Monetary Authority of Singapore

Our review has concluded that Plus500’s user-friendly CFD platform offers the best risk management tools, which could be quite useful for Australia-based beginner traders.

Risk Management Trading Tools Offered by Plus500

To trade CFDs is a risky endeavour since leverage is used. In a volatile market environment, higher leverage ratios could lead to larger losses (and larger gains respectively). The maximum leverage allowed on CFD trading in Australia is 1:300, as per local regulatory framework, while elsewhere it is even lower. Therefore, to minimize risk retail clients need appropriate trading tools to safeguard their active positions in the market.

To manage higher leverage, Plus500 clients are able to use 3 essential risk management tools:

• Conditional stop-limit orders for taking profits and stop-loss limit orders to close losing positions. These order types guarantee your order will be executed at the desired price
• Guaranteed stop-loss order helps CFD traders control the risk
• Trailing stop-loss order provides a flexible way to lock in profits

1) Conditional Stop-Limit Orders

The Close at Profit and Close at Loss orders enable traders to specify a rate at which their position will be closed, allowing them either to preserve gains or to limit losses. This feature is available free-of-charge.

2) Guaranteed Stop Loss Order

The Guaranteed Stop order puts an absolute limit on a trader’s possible loss. In case the market goes considerably against him/her, the trader’s position will automatically close at the price level he/she has specified. The risk of slippage is minimized. However, Guaranteed Stop can only be used on some financial CFD instruments. For a small premium fee (wider spread), the GSL order helps CFD traders to lock in the potential loss. Plus500 applies an extra spread for this feature.

3) Trailing Stop Loss Order

The Trailing Stop order allows a trader to lock in gains, while also placing a Close at Loss order that updates automatically when the market moves in your direction. The Stop Loss order will be triggered when the market moves against him/her, but it is not certain if the position will be closed at the specified “Close at Loss” level due to slippage. On the other hand, no charges are associated with the Trailing Stop feature.

Negative Balance Protection

Negative balance protection is another useful feature to minimize risk, especially when market volatility is high and margin calls or stop-outs may not function in a proper manner. With this feature in place, Plus500 retail clients cannot lose greater amounts than their initial deposit.

Final Words – Plus500 Our Best CFD Provider for CFD Trading with Risk Management Tools

Overall, Plus500 ranks in the best CFD trading platform Australia review for its risk management trading tools. Australian CFD traders can better protect their positions with the trading tools offered by Plus500. Opening a live trading account with Plus500 is extremely easy. At Plus500, you can gain access to a wide range of markets with a minimum deposit of USD 100.

View Plus500 Review >>Visit Plus500 >>

*Your capital is at risk ‘76.4% of retail CFD accounts lose money’

eToro – Best For CFD Social Trading Platform

Over the past decade, eToro’s social trading platform has gained a lot of popularity among traders across the globe. The platform enables Australian residents with little or no trading experience and those who do not have the time to track price movement to earn a passive income by copying positions of experienced traders.

As a CFD provider, eToro complies with strict regulatory standards in several jurisdictions:

• Its European operations are authorized and regulated by Cyprus-based CySEC
• Its operations in the United Kingdom are authorized and regulated by the FCA
• Its operations in Australia are authorized and regulated by the ASIC

eToro’s CopyTrader Trading Platform

By using eToro’s CopyTrader feature, Australian retail investors are able to locate other CFD traders, who could meet their investing needs, based on certain parameters such as risk score, gain, location etc. Once retail clients locate a top-performing CFD trader, the platform will allow them to copy exactly his/her trading activity.

Note* Replicating the activity of a professional trader is not associated with any management fees or other hidden costs.

With eToro’s social trading platform, Australia-based clients can also discuss trading strategies with top-performing traders and take a look at their portfolios. To take advantage of the CopyTrader feature, retail customers will have to put down a minimum deposit of $200, while every copied position needs to be at least $1 in value.

Traders, who get copied, will be paid directly by the broker, as they participate in its so-called Popular Investor Program.

eToro’s Popular Investor Program

CFD traders with experience, who employ a reliable trading strategy, have the opportunity to earn an extra income when followed or copied by other eToro clients. A trader, who gets copied, will be paid a fixed amount of up to 2% of his/her annual assets under management (AUM). A trader’s AUM equal the total amount, which other eToro customers have allocated to him/her to replicate his/her trading activity.

A trader, who participates in eToro’s Popular Investor Program, will have his/her 2% payment credited to his/her trading account on a monthly basis. Once the funds clear into the trader’s account, he/she will be able to withdraw them immediately.

The broker has structured its Popular Investor Program into four different levels – Cadet, Rising Star, Champion and Elite. Each level has specifications of its own. We can say that the more a trader increases his/her AUM, the larger his/her extra income will be. The details of each level included in the Program can be viewed below:

Final Words – eToro Best CFD Trading Platform for Copy Trading

eToro is one of the best CFD trading platforms that took the most points in our star scoring system for their social trading platform. Australian CFD traders can gain market access on 7 key asset classes, including stock trading with 0% commission. Click the button below to start trading on the forex market and CFD market.

ThinkMarkets – CFD Mobile Trading Platform + ETFs

ThinkTrader mobile App was awarded the best CFD mobile trading platform by our team of experts. With ThinkMarkets trading Apps, both CFD and forex traders can access in real-time via mobile devices, a wide range of CFD financial instruments with spreads as low as 0.1 pips on EUR/USD and 1 point spread on AUS200. The broker offers negative balance protection ensuring traders losses don’t exceed their deposit.

Founded in 2010, ThinkMarkets is a leading multi-regulated Forex and CFD provider. It is authorized to conduct financial services business in several jurisdictions as follows:

• United Kingdom – TF Global Markets (UK) Limited, an entity regulated by the Financial Conduct Authority (FCA),
• Australia – TF Global Markets (Aust) Limited, an entity regulated by the Australian Securities and Investment Commission (ASIC),
• South Africa – TF Global Markets (South Africa) Pty Ltd, an entity regulated by South Africa’s Financial Sector Conduct Authority (FSCA).

After carefully reviewing the features of CFD trading platforms offered by top regulated brokers in Australia, our team of experts at Compare Forex Brokers concluded that ThinkMarkets’ mobile trading application was the most competitive on the market. Australian traders have unlimited possibilities for forex trading and CFD trading via:

• ThinkTrader mobile App
• MetaTrader 5 (MT5) mobile App
• MetaTrader 4 (MT4) mobile App
• Trade Interceptor mobile App (re-branded now as ThinkTrader App)

ThinkTrader Mobile Trading Platform

ThinkTrader Mobile is ThinkMarkets’ proprietary CFD trading platform, accessible on any iOS or Android-based devices. What makes ThinkTrader Mobile unique is a set of trading features and technical analysis tools such as:

• Innovative Analysis – a full set of technical analysis tools that allow clients to utilize trading opportunities while being on the move. Clients have more than 80 indicators, 50 drawing tools and 14 chart types at their disposal
• Multi Deal Closure – all open positions in a particular trading instrument can be closed instantly and effortlessly
• Quad Screen Display – the platform presents a unique quad display that allows for watching 4 real-time charts on any mobile device
• State-of-the-art TrendRisk Scanner – a cutting-edge market scanner that automatically looks for a number of trading instruments on several time frames and applies risk management
• Cloud-based Alerts – clients can obtain the market information they look for when they need it without being logged in to their trading account
• Multi-touch Functionality – clients can drag and highlight a particular area on the chart to instantly determine the exact number of pips/points it represents
• Real-time news from FX Wire Pro
• Customizable trading history reports

Trade CFDs on ETF Instruments

In addition, Australia-based retail clients with an interest in trading CFDs on Exchange-Traded Funds (ETFs) may take advantage of ThinkMarkets’ ETF product offering. Clients will find 49 US ETFs, which can be traded on the broker’s MetaTrader 5 and ThinkTrader platform. Details of some of them are presented in the following table:

Final Words – ThinkMarkets Best CFD Mobile Trading Platform in Australia

After we compared the best mobile trading Apps and their functionalities we concluded that ThinkTrader Mobile offers the best technological solution. ThinkMarkets’ mobile trading Apps offer Australian CFD traders the option to trade on the go directly from your smartphone. Funding your CFD trading account with ThinkMarkets is easy, you’ll need a minimum deposit of USD 200 (or equivalent in Australian dollars).

View ThinkMarkets Review >>Visit ThinkMarkets >>

IG – Best For Forex Currency Pairs

IG Group is a leading Forex and CFD provider with presence in 16 countries, which grants its more than 178 000 clients access to a massive range of markets via several powerful trading platforms, including:

• IG’s proprietary Web-based platform (Webtrader)
• MetaTrader 4
• Mobile Trading Apps
• Advanced platforms (L2 dealer, ProRealTime)

IG Markets Limited is authorized and regulated by the Australian Securities and Investment Commission (ASIC). Over the years, IG Markets has become one of the most popular Forex brokers in Australia. Research firm Investment Trends awarded IG Markets as the Number 1 in Australia by primary relationships and CFDs in its December 2019 Leveraged Trading Report.

Forex CFD trading with IG Markets

IG Markets allows its clients to trade Forex in two possible ways:

• Over-the-counter (via Contracts for Difference) with no commissions
• Direct Market Access (Forex Direct)

The broker offers variable spreads on its Forex CFDs, which depend on liquidity and time of the day. Spreads can also be affected by the release of major macroeconomic reports or by political events.

With IG Markets, Australian retail clients are able to choose from more than 80 major, minor and exotic currency pairs, with spreads on EUR/USD and AUD/USD starting from 0.6 pips. The table below highlights the contract specifications of the most popular Forex pairs:

We should note that the average spreads have been calculated over the 12 weeks ending May 31^st 2019.

Forex Direct Market Access (DMA)

Intended for professionals, Forex Direct allows for Forex trading with access to the physical market with no dealing desk intervention. The direct market access enables clients to view the best bid and offer price available for a particular instrument as well as more prices on either side of the order book. However, Forex Direct comes at a cost – IG Markets will charge a commission based on trade volume. Higher commissions will apply to clients with lower trade volumes, as can be seen in the table below.

If a trader has generated less than $100 million in trade volume during the past month, the brokerage will charge a commission of $60 per $1 million traded.

On the other hand, Forex Direct keeps average spreads low since price quotes are provided by major banks.

Final Words – IG Best Forex Broker in Australia

Overall, IG scored the highest number of points for the best Australian CFD broker for forex trading. Our Australian CFD broker review took into consideration three factors when awarding IG – the range of CFD trading platforms, Forex direct market access (DMA) and low average spreads on major currency pairs.

View IG Markets Review >>Visit IG >>

FP Markets – Best For Bitcoin and Cryptocurrency

The best CFD broker in Australia to buy Bitcoin and other cryptocurrencies is FP Markets. Founded in 2005, FP Markets is an award-winning global Forex and CFD trading provider, allowing access to a full suite of products in the global markets. The broker is authorized to conduct financial services business in the following jurisdictions:

• Australia – First Prudential Markets Pty Ltd, an entity regulated by the ASIC,
• Europe – First Prudential Markets Ltd, an entity regulated by the CySEC.

Our review has concluded that FP Markets’ Crypto CFD offering is the most competitive on the Australian CFD market. The broker allows low-cost Cryptocurrency CFD trading on its proprietary Iress CFD platform. 5 popular Cryptocurrencies are available to trade with no commissions and tight spreads (as low as 2.02 points on BTC/USD):

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Ripple

The table below presents the minimum and the average spreads for these trading instruments on FP Markets’ Standard and Raw ECN Accounts.

Final Words – FP Markets Best CFD Trading Platform Cryptocurrency

Overall, FP Markets offer the best bitcoin CFD trading platforms that are compatible with any trading style. Among the top CFD brokers in Australia we reviewed, FP Markets offers the best trading conditions for cryptocurrency CFD trading. CFD traders can trade Bitcoin against the AUD dollar, with a maximum leverage of 2:1, without the need of a crypto wallet or an exchange account.