Trading software is one key consideration when you choose a broker with the best CFD trading platforms allowing forex, cryptocurrencies and stock CFDs to be traded. Our CFD broker comparison factored in the best platforms, trading fees and the top features that traders may require.
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The best CFD trading platforms based on critical trading considerations:
Markets.com started accepting retail traders in 2008 and is viewed as one of the best brokers worldwide due to its competitive pricing and top tier regulation. Depending on where you reside, you will be able to sign up to one of the following Markets.com subsidiaries:
Markets.com is the best CFD broker overall thanks to its tight commission-free spreads, selection of trading platforms and unique trading tools. You can choose between MetaTrader 4, MetaTrader 5, Marketsx or Marketsi for CFD trading, with each platform providing unique features to help you develop sophisticated trading strategies.
Marketsx, the broker’s proprietary trading platform, is known for its excellent range of sentimental, fundamental and technical analysis tools that can be used to analyse different financial markets.
Sentiment tools are powerful tools that allow you to take advantage of the mood in the markets. Markets.com one of the largest sentiment indicators to profit from the collective risk appetitive in the market.
Technical Analysis Tools:
These tools help with forecasting price movements. With technical analysis measures such as price and volume are applied to charts to determine patterns.
Fundamental Analysis Tools:
These tools allow you to determine the fair value of assets by evaluating relevant metrics and reports
Markets.com offers great market access with thousands of CFDs derived from eight major asset classes which allow you to diversify your investments.
The broker’s other proprietary trading platform, Marketsi, offers the same market access as Marketsx but different trading tools. Marketsi was designed for those wanting to focus on stock CFD trading, with a unique Investment Strategy Builder to help you develop diversified share portfolios:
If you prefer to trade CFDs via MetaTrader 4 (MT4) or MetaTrader 5 (MT5), you gain free access to the following features and tools:
Markets.com offers one account type for forex and CFD trading. All spreads are commission-free as the broker follows a market maker business model.
Markets.com is ideal for CFD traders wanting tight commission-free spreads plus an extensive range of trading tools to develop trading strategies with. A major benefit that you gain as a Markets.com trader is access to the broker’s unique sentiment tools, useful for both beginner and experienced traders.
Market.com’s competitive no commission spreads are available on four of the best trading platforms currently available – MT4, MT5, Marketsi and Marketsx.
View Markest.com Review >>Visit Markets.com
Established in 2002, XTB is based in Warsaw, Poland with offices in countries throughout Europe including France, Italy, Germany, Hungary, Turkey. XTB also has an office in China and Chile.
XTB has known for its large range of CFDs and Cryptocurrencies, xStation 5 trading platform and education tools.
Note: Crypto trading is not available with XTB UK, which has FCA regulation. The regulator does not allow trading of cryptocurrency as part of its oversite.
XTB is a good choice for clients wanting to trade a wide range of CFDs and cryptocurrencies. Those new to trading will appreciate the free education tools and easy to use trading platforms.
Pepperstone is an Australian CFD provider that was founded in Melbourne, 2010.
Pepperstone aims to provide solution traders experience with online trading when it comes to delays in trading execution, excessive wide spreads and poor customer support.
We consider Pepperstone to be one of the best CFD brokers. We recommend the broker for intermediate to expert forex traders who desire super-fast execution with ECN online trading for low spreads.
View Pepperstone Review >>Visit Pepperstone >>
Established in 2001, easyMarkets are based in Cyprus with local offices in Sydney, Australia.
easyMarkets business philosophy is to be Simple, Honest and Transparent when it comes to trading. These are great values traders should look for when choosing a broker as it means you can trade with confidence.
What makes easyMarkets so distinctive in the online brokerage industry is that they aim to reduce your level of risk when investing. easyMarkets include a number of ‘inclusive’ risk management tools other brokers either charge a premium for or (in most cases) don’t offer.
We are big fans of easyMarkets because they offer the best risk management tools of all brokers. Most of these tools are inclusive in your spreads which adds to their appeal. If you are new to trading, a risk-averse trader or trading in a very volatile market then easyMarkets can help you manage your trading risks.
Open a demo account >>Visit easyMarkets>>
Is an Australian CFD trading broker that commenced in Sydney in 2007
Axi (formerly AxiTrader) was founded by traders. therefore they understand exactly what you will want to experience as a trader. In particular, Axi believes these features to be 24-hour customer service, tight spreads and speedy execution with only minimal slippage or as Axi phrase it “integrity, service, execution”.
If you are looking for a broker to help you get the most out of the MetaTrader 4 platform then Axi makes a great choice. With MT4 you get a wealth of features that can enhance your trading experience.
Open a demo account >>Visit Axi>>
Go Markets was founded in Sydney in 2006 as a provider of online CFD trading services. It has the distinction of being the first broker in Australia to offer MetaTrader 4.
Go Markets are always striving to provide the best possible trading experience to their clients by proving customer service that is reliable, prices that are transparent, trading execution with low latency and stable platforms.
This broker is a great option if using the GO Markets PLUS account. Go Markets have the lowest commission of all brokers and also offer great spreads.
Open a demo account >>Visit GO Markets>>
Plus500 was founded in 2008 in Israel with offices in Sydney, Australia, UK, Singapore and Cyprus acting as subsidiaries.
Plus500 commenced trading with its own custom made trading platform from the very start. The Plus500 platform is a well-respected platform compared to others found in our forex capital trading review. It enables traders to trade on movements on a wide range of CFDs.
Plus500’s strength is its unique forex trading platform. If you need a platform that works really well on mobile, tablets or small screens then PLUS500 have a great product for you.
View Full Comparison>>Visit Plus500>>
‘Your capital is at risk.’
Note: Plus500UK does not permit cryptocurrency trading due to FCA requirements.
IC Markets was founded in 2007 which its headquarters in Sydney. They have ASIC, CySEC and some other tier 3 regulation used for regions such as Nigerian forex traders.
IC Markets offer what they call ‘True ECN’ trading for all of its account. What this means is you have access to the lowest spreads, fastest trading execution and trading technology for all account types IC Markets offer.
We consider IC Markets on the best forex brokers. We recommend the broker to intermediate and advanced traders who want access to ECN style trading which means low spreads with fast execution for low spreads.
Open a demo account >>Visit IC Markets>>
This broker has headquarters in Melbourne and London It was founded in 2010.
ThinkMarkets goal is to provide quick and easy access to a wide range of markets through their own in-house platform. With this access, they promise tight spreads, fast order execution and great customer service.
ThinkMarkets are great when it comes to customer services. They offer support 6 days a week while most of our broker reviews on this page only offer customer support 5 days a week. In addition to this, they have good education tools and technical analysis tools.
Open a demo account >>Visit ThinkMarkets>>
IG Markets is one of the oldest broking companies (1974) in the Online broking industry. It is based in the UK.
IG Markets specialise in helping you trade across different asset classes. They are particularly known for forex and stock trading. Their objective is to help clients trade CFDs with leverage and learn more about CFDs definition. IG offers good spreads for a market maker with their CFD accounts and likes to give their client choices when trading.
IG has one of the largest portfolios of all CFD traders. If you are looking for an all in one broker that has no commissions and risk management tools available then IG might be the broker for you.
Open a demo account >>Visit IG Markets>>
First Prudential Markets or FP markets is an Australian based investment broker with offices in Sydney. It was listed on the Australian Securities Exchange in 2007.
FP Markets claim they can give you “The Ultimate Trading Experience”. FP Markets goal is to be a full-service broker which means you can trade a full suite of trading derivatives on the global market. The broker was the first in the world to have exchange-traded Contracts for Difference product in its listing (ASX CFDs).
Not only do FP Markets offer a full suite of products they are also consistently good in all other features a trader should look for when trading such as price, speed, product range, customer support and market analysis.
If your looking for a broker that allows you to trade on international markets across a range of CFDs then FP might be a good broker for you. The broker does everything consistently well without being the best in anyone.
Open a demo account >>Visit FPmarkets>>
CMC Markets are a UK online broker that was founded in 1989. It has an office in Sydney.
CMC Markets goal is to provide you with the ultimate trading experience. The broker achieves this in a number of ways such as by offering value for money with its prices and services, its own intuitive trading platform and a wide range of trading opportunities.
CMC is known as share traders or stock traders but offers other asset classes also making it a great CFD trading account. With CMC you can access a huge range of ASX stocks and international stocks, in addition, your ability to trade CFDs of other types.
CMC are great brokers if you’re looking for a CFD trader that offers a large range of CFDs. CMC is a great broker if you’re into stock exchange trading.
Open a demo account >>Visit CMC Markets>>
Just last year (2020) there was an increase in trading volume of 13.7% when it comes to exchange-traded derivatives. Breaking the trading volume by categories based on FIA figures:
Below shows the FIA volume data by investment group over the past decade to provide an insight into the popularity of class of contract for difference trading.
In the binary options and Forex industry, you might run across a term called the CFD. This CFD is a key trading instrument used to make the Australian binary options trading system appealing to the average trader. What is the CFD definition, what are its benefits and how can traders earn profits using this financial instrument?
The simple CFD definition is “Contract For Difference.” So what does this mean? The more complex CFD definition includes the fact that the client and broker agree to a trade that will offer profits if the specified asset moves in the specified direction in the specified time period. With the CFD, the binary options and Forex industry allows its customers to mirror the “real” purchases of physical assets – commodities, currencies, shares, treasuries and indices – with user-friendly forex systems. No physical assets are purchased with the CFD.
If a billionaire wanted to purchase real physical gold bullion bars, he would need to find a reputable dealer, negotiate the price, pay transaction fees, arrange for transportation and find a suitable storage vault. All of this would require a significant investment. Binary options makes it easier for the average investor to make wagers on the price movements of the most popular global assets, without a huge investment. The concept of a customised agreement between the client and broker is key to the CFD definition. Here are some of the primary benefits of the Contract For Difference:
New York, London and Shanghai are the primary stock exchanges, but traders might want to trade assets from other nations too. For example, if you want to track a German stock, then the CFD might give you the opportunity to trade shares during non-peak hours anytime 24/7/365.
Australian CFD Brokers and low fee and leverage brokers can modify the terms and conditions of each contract without issuing a press release or asking the corporate board of directors for permission. This flexible trading instrument can be adjusted to improve its profitability. Traders and brokers are free to determine the underlying asset, trade type, time frame and amount wagered. CFDs are not restricted by stock exchanges. With a wider range of options, you can increase your odds of finding just the right trade that will provide you with supplemental income.
Over time, stock traders might become bored trading the same old assets. The stock traders might need to undertake extensive schooling to learn the idiosyncrasies, CFD trading strategies, use of forex signals, techniques and fundamentals of a new asset class. Not so with the CFD. Australian CFD Broker videos allow you to “get-up-to-speed” quickly. You can test out a new trade by just clicking on a different CFD. More advanced traders can select more sophisticated exotic assets with the Contract For Difference. You don’t need to worry about becoming bored or running out of options.
Another advantage of the CFDs are a “leveraged Product” Australian brokers will allow you to “trade on margin,” which means that you only need to deposit a small amount or percentage of the full value of any particular trade. This amount is known as the margin requirement. This allows you to control a larger position. The CFD has a logarithmic value where higher price changes will lead to higher profits. Within this higher risk and higher reward template, accurate predictions can lead to healthier profits.
The CFD definition allows for lower transaction costs because you don’t physically purchase the underlying share. Australian Forex brokers can offer more assets to more investors due to the affordability of this contract. The CFD is also free from UK stamp duty.
Risk management is an essential parameter of any winning binary options trading strategy. When you set up an account, you will deposit money with the broker. Any profits or losses will accrue to this balance. In order to keep trading, you need to still have some funds in your broker account. Thus, when you organise a trade, you need to control your losses. The “stop-loss” is one popular technique. You can also select different CFD instruments to hedge your bets. If a price move is not occurring as you had originally hoped for, you can add a new CFD to offset your actual or potential losses.
As a mirror of real, physical trades, this similar characteristic is essential to the CFD definition. Every day, the real physical assets are being traded, so you will never suffer from a lack of action. Large airline companies will hedge their fuel costs with petroleum options. Likewise, if you have been holding a great corporate stock for decades, but want to earn some short time profits, CFDs can be useful. You can profit from significant price moves without selling the underlying asset.
When you are ready to trade the CFD Market in Australia and learn more about what is CFDs, figure out which asset, trade type, period and amount is right for you. Assets include shares, commodities, currencies, treasuries and indices. The best profits result from trading an asset, which you are very familiar. Trade types include Up or Down, Touch, Range, 60 Seconds and other variations. Discover the myriad of options available with CFD trading in Australia. Then explore a range of online cfd brokers and the trading platform they use to buy and sell cfds. You should look for a broker you trust that offers a platform you feel comfortable with.
This website mainly centres around top forex brokers, after all it is called Compare Forex Brokers. However, we couldn’t ignore the speed at which the CFD market was growing. Its popularity, especially in Australia, continues to grow year on year and brokers from Europe and the United States have flocked to our shores, trying to woo local traders. Our aim is to give you the ‘facts’ and more information found in our forex capital trading review so you can make a more informed decision before selecting a CFD provider.
You can also view the top forex broker comparison table if you are focused more on currency trading.
Justin Grossbard has been investing for the past 20 years and writing for the past 10. He co-founded Compare Forex Brokers in 2014 after working with the foreign exchange trading industry for several years. He also founded a number of FinTech and digital startups including Innovate Online and SMS Comparison. Justin holds a Masters Degree and an Honours in Commerce from Monash University. He and his wife Paula live in Melbourne, Australia with his son and Siberian cat. In his spare time, he watches Australian Rules Football and invests on global markets.