Top Australian CFD Trading Platform List

Our best ASIC regulated CFD broker list for February 2024

Broker Our Rating Regulation Standard
EUR/USD Spread
Standard
GBP/USD Spread
Standard
AUD/USD Spread
Raw
EUR/USD Spread
Raw
GBP/USD Spread
Raw
AUD/USD Spread
Commissions
(USD Base)
MetaTrader 4 MetaTrader 5 cTrader Execution Speed Minimum Deposit Currency Pairs Crypto CFDs Retail Leverage Prof. Leverage
98 ASIC, FCA
CySEC, DFSA
1.12 1.69 1.22 0.10 0.60 0.30 $3.50 77ms $0 62+ 12+ 30:1 500:1 Visit Site
85 ASIC, FSA-S
CySEC
0.62 0.83 0.77 0.02 0.23 0.17 $3.50 134ms $0 61+ 18+ 30:1 500:1 Visit Site
57 ASIC, CySEC, MAS
FCA, FMA, DFSA
EFSA, FSA, FSCA
1.70 2.3 1.4 - - - - 140ms $100 71+ 15+ 30:1 300:1 Visit Site
43 ASIC, CySEC, MFSA
FCA, FSA, FINRA
GFSC
1.0 2.0 1.0 - - - - 130ms $200 (Australia), $50-$100 (EU) 49+ 46+ 30:1 400:1 Visit Site
75 ASIC, SCB
FCA,CySEC
1.0 1.0 1.2 0.06 0.73 0.27 $3.50 143ms $250 (Raw)
$500 (Standard)
40+ 250+ 500:1 500:1 Visit Site
71 ASIC, FCA, BaFin
FINMA, NFA/CFTC, MAS
CySEC, DFSA, FMA
JFSA, BMA, FSCA
1.13 1.66 1.01 0.16 0.59 0.29 $6.00 174ms $450 100+ 12+ 30:1 200:1 Visit Site
68 FCA, FSCA
ASIC, FSA-S, CySEC
1.1 1.3 1.1 0.1 0.3 0.2 $3.50 161ms $0 46+ 21+ 30:1 500:1 Visit Site
66 ASIC, MAS, FCA 0.70 1.1 2.2 0.07 0.011 0.8 $2.50 95ms $150 84+ 25+ 30:1 500:1 Visit Site
 

What Are The Best CFD Brokers For Australian Traders?

We have compared the top 25 CFD brokers based on the trading platforms they use, features they offer and fees they charge. This data is designed for Australian CFD traders but could be a useful guide if your located in similar jurisdictions.

1. Pepperstone Best Broker For MT4

Pepperstone

Forex Panel Score

98

Average Spread

EUR/USD = 0.1
GBP/USD = 0.4
AUD/USD = 0.2

Trading Platforms

MT4, MT5, cTrader, TradingView, Capitalise.ai

Minimum Deposit

$0

Why We Recommend Pepperstone

We think Pepperstone is one of the best CFD trading platforms out there. This Australian-based broker offers excellent spreads such as an average of 1.12 pips for the EUR/USD plus super-fast execution speeds of 77 ms for limit orders.

Pepperstone is also a world-class provider of MetaTrader 4 and provides extra features to help you make the most of it such as Capitalise.ai for automation along with Smart Trader Tools, Myfxbook and Duplitrade. Trading is also available with MetaTrader 5, TradingView and cTrader.

Pros & Cons

  • Low spreads
  • Fast STP execution
  • A wide range of CFD platforms
  • Great CFD product range
  • Useful third-party tools
  • A demo account only lasts 90 days
  • Inactivity fee
  • No Islamic account in Australia
  • Only CFDs, no spot trading

Broker Details

The Best Australian CFD Trading Platform Overall

Australian based broker, Pepperstone, is a Forex broker with a lot to offer, such as competitive spreads, a great range of trading products and support for third-party platforms, including social or copy trading and algorithmic trading. As such, Pepperstone ticks all the boxes and is our best overall broker on this list.

Major highlights with Pepperstone include:

  • Low-cost STP broker and fast execution
    best non commission forex account award 2024
  • Great range of CFD platforms
  • Thousands of CFD products
  • Award-winning customer support

Pepperstone Account Types

Pepperstone provides CFD traders with a choice between two account types: the Standard account and the Razor.

To pay zero commissions, the Standard account is where to start, with spreads starting at 1.0 pips for EUR/USD. This is competitive for similar account types and suited for beginners, with costs easier to track than the Razor account.

The Razor account, on the other hand, offers tighter spreads but charges additional commission costs. Spreads start at 0 pips with commissions of AUD $7.00 round-turn per 100K traded. This is a more cost-efficient account but suited for more experienced traders.

pepperstone accounts and products australia 1 pips

One thing to note is that cTrader and TradingView is not available with the Standard account.

Pepperstone Products

Pepperstone offers a good, all-round range of tradeable markets. Thousands of CFD products are available across foreign exchange, stocks, indices, commodities (metals, energies and softs) and cryptocurrencies.

These include stock CFDs from major global stock exchanges such as Nasdaq, NYSE in the US, LSE (London Stock Exchange) in the UK and DAX in Germany. You can also choose from a range of 100 ETFs, which are more complex financial instruments to trade.

Pepperstone is one of the highest leverage forex brokers in Australia offering the maximum allowed by ASIC for retail traders. This is 30:1 for Forex currency pairs, 20:1 for indices, 10:1 for commodities, 5:1 for shares and currency indices and 2:1 for cryptos. Trading with high leverage involves high risk, with the potential to lose more than you would on a normal trade. Luckily, Pepperstone doesn’t offer high maximum leverage for retail investor accounts.

Funding Methods

To open an account with Pepperstone, you can use a range of funding methods including bank transfer, debit card or credit card, as well as digital wallets such as Neteller and Skrill. While Pepperstone doesn’t require a minimum deposit, it is recommended you start with at least $200.

pepperstone funding method au

Top ECN-like broker

Pepperstone creates an ‘ECN-like’ trading experience by executing trades via straight-through-processing (STP). This provides CFD traders with access to interbank liquidity pools and trades at the same rates as those quoted by liquidity providers.

The no-dealing desk, STP execution system also means no price adjustments, which allows Pepperstone to match the prices offered by true ECN brokers, as highlighted in the module below. Variable spreads of forex, for example, can begin as low as 0.0 pips on major currency pairs, including AUD/USD, EUR/USD and GBP/USD.

ECN Broker Spreads
0.40 0.60 0.10 0.40 0.20
0.14 0.25 0.02 0.27 0.17
0.20 0.30 0.20 0.40 0.20
0.50 0.60 0.30 0.50 0.50
0.30 N/A 0.30 0.50 0.40
0.20 0.83 0.44 0.40 0.42
0.24 N/A 0.17 0.54 0.30
0.30 0.70 0.20 0.50 0.40
0.30 1.10 0.10 0.60 0.50
n/a 0.30 n/a 0.60 0.50
0.77 1.41 0.44 1.13 1.23

Avg. spreads are taken from each broker's website and updated monthly. Last update on 02/01/2024

Compare Lowest Spreads

 

Pepperstone Trading Platforms

Pepperstone offers a great range of trading platforms which all have different benefits. The 5 main platforms available are MetaTrader 4, MetaTrader 5, cTrader, Capitalise.ai and TradingView.

MetaTrader 4 (MT4) is still the most popular forex trading platform out there, but MetaTrader 5 (MT5) is fast catching up. The main difference between platforms is in the amount of trading tools available and the platform capabilities.

MT5 offers more charting tools including 38 technical indicators, 44 graphical objects and 21 time frames. MT4 has been around longer and is a reliable platform that is still widely used for trading forex, while MT5 was designed to trade on centralised markets, such as the major stock exchanges. This is beneficial for trading a bigger range of available CFD products.

cTrader is another alternative to the MetaTrader platforms with a clean and modern interface that is user-friendly. The platform allows fast entry and execution and Depth of Market pricing, which is advantageous for CFD trading. A unique feature not offered by other platforms, is that each chart comes with its own toolbar for easier control to make changes. For those algorithmic traders out there, automation is available through the use of cBots with cAlgo.

Capitalise.ai is an algorithmic and standalone platform in its own right, for those with no coding knowledge or expertise. You can basically create an algorithm without writing your own script.

TradingView is an advanced charting tool that also doubles as a trading platform. The major benefit with TradingView is having over 100 types of charts that you can trade directions within for deep technical analysis.

pepperstone trading platform

 

All platforms are available for desktop, as a web trader or on mobile for both iOS and Android devices.

There are also a range of social trading platforms, courtesy of platform add-ons for both MetaTrader and cTrader. Myfxbook is a copy trading platform with the ability to AutoTrade using a forex automated trading system. DupliTrade, on the other hand, is for copy trading

Our Verdict on Pepperstone

Pepperstone is our choice for the best broker for CFD trading based on a number of factors, including low trading fees, fast execution and a great range of trading platforms. We also ranked Pepperstone as the 2024 best forex broker AU with similar attributes for currency trading. The broker also has a wide range of instruments, particularly share CFDs, and award-winning 24/5 customer service. Suitable for traders at any level of experience.

View Pepperstone ReviewVisit Pepperstone

2. IC Markets Top Broker For MT5

IC Markets

Forex Panel Score

85

Average Spread

EUR/USD = 0.02
GBP/USD = 0.23
AUD/USD = 0.17

Trading Platforms

MT4, MT5, cTrader

Minimum Deposit

$200

Why We Recommend IC Markets

IC Markets is a leading CFD broker.

With IC Markets you’ll find a range of CFD products, as well as competitive spreads (0.02 pips for EUR/USD), low trading costs, and reliable trade execution (77 ms for limit orders and 100 ms for market orders).

We like how the broker has a large variety of products you can trade using MetaTrader5 such as 61+ forex pairs, 17 commodities, 1600+ stocks and 25 indices.

Pros & Cons

  • Competitive Pricing
  • Useful third-party tools
  • Social and algorithmic trading
  • Tight spreads
  • Fast execution speeds
  • Educational materials could be better
  • High minimum deposit
  • Withdrawal fees
  • Slow live chat support

BrokerDetails

Best Broker For Scalping

Having STP pricing and being a no-dealing desk broker, IC Markets offers competitive spreads and no requotes, all important considerations for scalpers and high frequency traders.

IC Markets also offers:

  • Competitive pricing
  • An impressive range of trading platforms
  • Useful third-party tools
  • Social and Algorithmic trading

IC Markets Account Types

The broker provides three key account types with varying fees based on the platform and account. IC Markets’ Standard account is highly competitive, offering spreads as low as 0.6 pips, undercutting the industry standard for zero-commission accounts.

They also offer two Raw Spread accounts for MetaTrader or cTrader users. For the MT4/MT5 option, the round-turn commission is AUD $7. The cTrader account involves a more intricate structure with a USD $3 commission per 100K traded, converted to your selected base currency.

Both Raw accounts boast a minimum 0 pip spread for most currency pairs, marking their competitiveness in commission-based accounts.

ic markets account and product australia

There is also a swap-free Islamic account that follows Sharia Law for those traders that cannot earn or pay interest for religious reasons.

Products

IC Markets has a growing range of tradeable markets on offer. This spans multiple different asset classes, including Forex, stocks, cryptos, commodities, treasuries (bonds) and futures.

IC Markets particularly shines when it comes to stocks, offering over 1600 share CFDs. There are also a healthy range of 61 Forex pairs to trade, amongst a smaller range of other financial products.

IC Markets Trading Platforms

IC Markets packs everything a CFD trader might require in terms of trading platforms and supplementary tools.

This Australian firm presents an extensive assortment of third-party platforms, akin to Pepperstone. Their key trading platforms include both MetaTrader options (MT4 and MT5) and cTrader.

With MT4 and MT5, you gain access to an array of advanced trading instruments like AutoChartist and MetaTrader Signals, invaluable for charting and algorithmic tasks. Copy trading platform alternatives like ZuluTrade (social) and MyFxBook (for autotrading) are also available.

The prime feature of the MetaTrader platforms is arguably Advanced Trading Tools. This suite equips traders with a plethora of advanced tools, including indicators, Expert Advisors (EAs), and tools for order customisation.

ic-markets-trading-platforms

For cTrader, there is cAlgo automated trading platform and Trader Copy for social copy trading. This, in addition to cTrader being an excellent alternative to the MetaTrader platforms, means the platform holds up on its own with features such as fast execution, a Depth of Market Indicator, measuring the liquidity of the market, and great charting tools.

With the exception of Myfxbook and Autochartist, all trading platforms are available across the full spectrum of desktop, web and mobile devices.

Our Verdict on IC Markets

Overall, IC Markets has some of the lowest commissions, with multiple competitive accounts choose from and a wide range of trading platforms with a great set of trading tools, to obtain a competitive advantage when trading CFDs, including multiple algorithmic and social trading options.

3. Plus500 Good Broker With Trading App

Plus500

Forex Panel Score

57

Average Spread

EUR/USD = 1.7
GBP/USD = 2.3
AUD/USD = 1.4

Trading Platforms

Plus500 Trading Platform

Minimum Deposit

$100

Why We Recommend Plus500

Plus500 stands out to us due to its risk management features like guaranteed stop orders and negative balance protection. You will have to use the broker’s in-house developed webtrader and app as they don’t offer MetaTrader 4 and MetaTrader 5 but we think this is ok as they are very good platforms in their own right.

When we tested the Plus500 mobile app, we liked how it integrates with the Plus500 WebTrader so you can seamlessly switch between the two. Our tests showed that the mobile app is user-friendly and has 109 indicators and 20 drawing tools to help with technical analysis.

However, we thought spreads with Plus500 to be below-average spreads (AUD/USD = 1.4 pips).

Pros & Cons

  • Risk management features
  • Large selection of CFD products
  • Competitive spreads
  • Fast execution speeds
  • High minimum deposit
  • Inactivity fee
  • Slow customer service
  • High CFD trading fees

Broker Details

The Broker With The Top Risk Management For CFD Trading

Trading CFDs can entail a high level of risk. Volatile market environments can lead to significant gains – and equally significant losses. As such, conservative traders may feel at ease with Plus500, who offer the best risk management tools to help protect their active positions when trading complex derivatives such as CFDs.

Additionally, Plus500 offers:

  • User-friendly Plus500 trading platform
  • Large selection of CFD products
  • Negative Balance Protection
  • Risk Management features

Plus500 Account Types

Keeping it simple, Plus500 only offer a Standard account, which reflects their appeal to less experienced traders.

This account has quite competitive trading costs, with zero commissions and spreads starting at 0.6 pips for major currency pairs.

plus500 account and products australia

There are no funding costs, although the broker does require different minimum deposits to open an account, depending on your preferred funding method, starting at AUD $100 for BPay and going as high as AUD $500 for bank transfer.

Products

Plus500 offers a great range of CFD products, within a vast array of asset classes. These include 1100 stocks, 71 Forex pairs and 30 indices, amongst a smaller number of commodities and cryptocurrencies.

The broker also offers 98 ETFs and 308 options, for those who prefer trading more complex derivatives.

Plus500 Trading Platforms

Plus500 only offers their own proprietary trading platform, which has more than enough features for any level of trader, particularly beginners.

An intuitive and use-friendly platform, Plus 500’s trading platform is not only functional, it also features charting tools such as 110 indicators and 20 drawing tools.

Where this platform stands out, however, is in its risk management tools, particularly the ability to customise your orders with stop limits, stop losses and trailing stops in order to protect your trades against market volatility. Even better, the platform allows you to use guaranteed stop-loss orders to ensure that you exit positions at the exact price specified in your order with no slippage.

plus500 trading platform

Plus500 also provides negative balance protection. Designed to minimise potential financial losses, negative balance protection prevents CFD traders from incurring losses above the total balance of the trading account. The broker doesn’t profit from the trader’s losing positions.

Lastly, Plus500’s trading platform was also listed on the Automated Trading Platforms table with advanced algo features.

Our Verdict on Plus500

In summary, Plus500 has risk management covered with their order customisations and negative balance protection, perfect for the risky world of CFD trading while also offering an excellent proprietary trading platform to trade a wide range of products on.

4. eToro Best Broker For Social Trading

eToro

Forex Panel Score

43

Average Spread

EUR/USD = 1
GBP/USD = 2
AUD/USD = 1

Trading Platforms

eToro Trading Platform

Minimum Deposit

$50

Why We Recommend eToro

eToro is a specialist in social trading and we appreciated this point of difference from other brokers on our list. If you’re new to CFD trading, eToro can be a good place to start as the platform allows you to learn from, follow and copy from the best traders in the eToro community or 30 million+ registered users.

We tested Smart Portfolios which can be an index of the top-performing traders in the eToro community or theme such as Utility, AI revolution stocks or Gold stocks.

Pros & Cons

  • Social media integration
  • Educational resources
  • Tight spreads
  • Beginner-friendly
  • Multiple assets
  • Withdrawal fees
  • Inactivity fee
  • Cryptocurrency fees
  • Not very suitable for experienced traders

Broker Details

A Great Social Trading CFD Trading Platform

Another broker suited for beginner CFD traders, eToro has positioned itself as a community dedicated to making financial markets and trading accessible to all with easy-to-use platforms for copying the positions of experienced traders. As such, eToro offers the top social trading platform experience on our list.

Reasons to choose eToro include:

  • Easy-to-use proprietary trading platform
  • CopyTrader and Smart Porfolios for copy trading
  • Huge social trading global community
  • Great range of trading products

eToro Account Types

Another broker that only has one account option, eToro’s Standard account is commission-free with minimum spreads starting at 1 pip, which is in line with the industry average.

You will only need $50 to open this account with no additional funding costs.

etoro account and products australia

Products

eToro gives you a great range of over 3000 tradeable symbols, with the option of trading CFDs or the underlying asset. You can trade stocks (2691), Forex pairs (49), Indices (13), Commodities (32) and ETFs (263).

eToro also offers a decent number of cryptos compared with most brokers, with 41 products to trade.

eToro Trading Platforms

eToro offers only proprietary trading platforms for CFD trading, including its main eToro trading platform, social trading platform CopyTrader and SmartPortfolios, with its emphasis on grouping traders into single funds.

The eToro trading platform combines the ability to do normal trading and copy trading, effortlessly. eToro’s platform also gives you great charting features through ProCharts, which gives you access to 66 indicators and 13 drawing tools.

For further social trading options, eToro’s CopyTrader and Smart Portfolios are great copy trading platforms with different aims in mind. CopyTrader focusses on copying individual trading strategies while SmartPortfolios has a fund manager style approach, funneling expert traders into single funds for more diversified trading.

etoro trading platforms us

In keeping with its commitment to social trading and copy trading, eToro provides only web and mobile interfaces for all of its platforms.

Our verdict on eToro

The king of social trading, eToro has a plethora of great trading platforms, CFD products and trading tools that make it stand out above all other brokers.

5. ThinkMarkets Top Broker For CFD Markets & Shares

ThinkMarkets

Forex Panel Score

70

Average Spread

EUR/USD = 0.1
GBP/USD = 0.3
AUD/USD = 0.2

Trading Platforms

MT4, MT5, ThinkTrader

Minimum Deposit

$0

Why We Recommend ThinkMarkets

What we like about ThinkMarkets is that they offer both trading with CFDs and investments on the ASX with Shares and ETFs. This means you can trade CFDs and equities all from one trading account instead of using two different brokers.

ThinkMarkets award-winning ThinkTrader webtrader and app is designed for trading both CFDs and stocks. We like their range of analytical tools which incorporate advanced charts from TradingView for trading the brokers 8000+ CFD and shares products. Other platforms for trade include MT4 and MT5.

Our overall take on ThinkMarkets is that it’s a reputable and reliable broker for CFD trading.

Pros & Cons

  • Fast execution speeds
  • Tight spreads
  • High leverage
  • Over 3000 share CFDs to trade
  • Superior mobile trading
  • Few educational materials
  • Can’t access all products with a Standard account
  • High minimum withdrawal
  • Inactivity fee

Broker Details

The Broker That Has The Best Mobile CFD Trading Platform

ThinkMarkets is a global, multi-regulated broker with the best mobile CFD trading platform, ThinkTrader. This platform has a unique set of powerful features that elevate the tablet or smart phone trading experience.

Overall, the broker offers:

  • Solid range of trading platforms
  • Competitive spreads
  • Over 3000 share CFDs to trade
  • Superior mobile trading

ThinkMarkets Account Types

ThinkMarkets gives traders two choices of trading account, a commission-free, Standard account or commission-based Think Zero account.

For a zero-commission account, the Standard account has some of the lowest minimum spreads of its type, starting at 0.4 pips for EUR/USD.

The Think Zero account, meanwhile, has competitive Forex spreads, starting at 0 pips for major pairs, albeit with slightly higher commissions at AUD $7 per round turn.

thinkmarkets account and product types aus

Products

ThinkMarkets may have a smaller offering of Forex, Indices and Commodities, but the broker offers a large number of shares and ETFs. You can trade over 3500 share CFDs over 13 global exchanges and 352 ETFs.

To have access to the full range of products, you must use either ThinkTrader or the MetaTrader 5 platform.

ThinkMarkets Trading Platforms

In addition to MetaTrader 4 and MetaTrader 5, ThinkMarkets also offers CFD traders the option to trade using ThinkTrader, the brokerage’s proprietary platform, accessible to any iOS or Android-based device, as well as on web and desktop.

ThinkTrader is particularly known for its charting, with 100 of the most popular technical indicators, 40 analytical objects and 12 timeframes. These all come with live pricing on the charts plus the ability to close multiple orders with one click and have multiple watchlists. You can also view up to 4 charts on your mobile screen, which gives the platform its mobile-friendly edge.

MT4 and MT5 are also great platforms with plenty of inbuilt features and platform add-ons that make them the most popular third-party platforms out there for Forex and CFD trading.

thinkmarkets platforms

Of these, one of the major highlights of ThinkMarkets MetaTrader suite is Trading Central which offers a comprehensive market analysis and research tools to enhance your trading experience across the entire range of CFD products available with the broker.

Our verdict on ThinkMarkets

ThinkMarkets offers a comprehensive suite of trading platforms that are particularly suited for mobile trading of the broker’s CFD products with great functionality, features and trading tools to analyse the markets with.

6. IG Trading Best Broker For Diverse Trading Products

IG Trading

Forex Panel Score

71

Average Spread

EUR/USD = 0.16
GBP/USD = 0.59
AUD/USD = 0.29

Trading Platforms

MT4, IG Trading Platform, L2 Dealer, ProRealTime

Minimum Deposit

$0

Why We Recommend IG Trading

IG is one of the oldest and largest brokers in the world. The broker boasts over 17,000 markets to trade on, which we think is by far the largest range of CFD products we’ve seen any broker offer.

Products include over 80+ Forex pairs, 13,000+ stocks, 80+ global indices, 2200+ ETFs, 15+ crypto and even options, futures and sectors.

You can trade Forex with IG trading platform, MT4 and ProRealTime without paying commissions. Spreads for the EUR/USD Forex pair average 1.13 pips and AUD/USD 1.10 pips per lot.

Pros & Cons

  • Huge CFD product range
  • Top proprietary trading platform
  • Tight spreads
  • Fast execution speeds
  • High stock CFD fees
  • Slow customer support
  • No fractional share ownership
  • High platform fee

Broker Details

The Broker With The Top CFD Trading Platforms To Trade Forex

Offering a comprehensive selection of CFD instruments, discounts for high-volume trading and an industry-leading trading platform, IG Markets is our top broker for Forex trading.

The broker offers many highlights including:

  • Huge selection of CFD products
  • Top proprietary trading platform
  • Great range of social and copy trading platforms
  • Incentives for high-volume Forex trading

IG Account Types

IG offers two account types for retail traders, a CFD account and a DMA account, but only the CFD account is for retail traders.

An IG CFD Trading account, as the name suggests, provides a trading experience tailored specifically to complex derivatives. While the brokerage does act as a market maker, low commissions keep this account type attractive.

Commissions are basically zero for everything except share CFDs, which only go as high as 0.1%. Spreads are competitive too, for a Standard-type account, with a minimum of 0.6 pips for major Forex pairs.

ig accounts and products australia

The broker’s DMA account, meanwhile, is better suited for active traders, which gives you direct market access, a no-dealing desk model and tiered commission rates for FX trading.

Products

IG Markets offers the most comprehensive selection of CFD products of any broker on this list, with over 16,000 financial instruments available. The broker stands out in their 100 Forex pairs and over 13,000 share CFDs, which means you are spoilt for choice.

It’s important to note that if you are trading OTC (using the CFD account) then you will be using contracts, while if you are trading with DMA, you will be using lots.

IG Trading Platforms

From advanced charting capabilities to remarkably comprehensive market research, IG’s proprietary platforms have all the infrastructure a new trader might need and all the power an experienced trader could want.

All in all, IG offers 4 main trading platforms: their excellent proprietary platform, the popular MT4, and specialist trading platforms ProRealTime and L2 Dealer.

IG’s proprietary trading platform is one of the industry’s best, not only as an intuitive, easy-to-use platform but because it has a range of charting features, trading tools and market research.

With 30 technical indicators, 20 drawing tools and 16 timeframes, IG’s charting syncs seamlessly from mobile to the web platform.

In terms of other trading tools, the IG platform has integrated risk management modules and a great standalone educational platform called IG Academy.

IG’s trading platform is available on all devices: web, mobile, tablet and on desktop.

The popular third-party platform, MT4, is best suited for Forex trading, L2 Dealer allows DMA (direct market access) trading on centralised exchanges such as share markets and ProRealTime, a charting and standalone trading platform in its own right, that comes with over 100 indicators.

ig markets trading platform uk

ProRealTime also offer algorithmic trading in different ways. ProRealTime lets you build your own algorithm, either with in-platform help or code from scratch.

L2 Dealer allows you to trade shares and forex with DMA execution.

Our verdict on IG

To summarise, IG Markets have so much to offer all levels of CFD trader, including a peerless list of products, discounts for high-volume Forex trading and a good range of trading platforms to trade them on.

7. Eightcap Great Crypto Broker

Eightcap

Forex Panel Score

75

Average Spread

EUR/USD = 0.06
GBP/USD = 0.73
AUD/USD = 0.27

Trading Platforms

MT4, MT5, TradingView, Capitalise.ai

Minimum Deposit

$100

Why We Recommend Eightcap

Melbourne-based broker Eightcap has 95 cryptocurrencies waiting for you to trade with the MetaTrader 5 and TradingView platforms (79 with MT4) — it even won an award from ForexBrokers.com because of this.

Spreads with Eightcap average an impressive 0.06 pips for the EUR/USD pair which makes them one of the best choices with this popular major.

We think it’s safe to say Eightcap is the best CFD broker for crypto. The huge product range, tight spreads, and fast execution speeds will enhance your trading experience significantly.

Pros & Cons

  • Algorithmic trading
  • Good range of trading platforms
  • Low trading fees
  • Tight spreads
  • Fast execution speeds
  • Limited educational resources
  • Limited leverage in some areas
  • Inactivity fee
  • Slow customer service

Broker Details

The Broker That Has The Best Crypto And Forex CFD Trading

Eightcap is a well-established and well-known CFD broker based in Melbourne. With over 250 cryptocurrencies available to trade, it’s safe to say Eightcap is the best CFD broker for cryptocurrency and bitcoin in Australia. The broker even won the award for most cryptos from ForexBrokers.com in 2024.

Indeed, Eightcap has many benefits:

  • Commission-free trading available
  • Support for algorithmic trading
  • Good range of trading platforms
  • Top crypto broker

Account Types

Eightcap is a no dealing desk broker meaning their spreads are sourced from liquidity providers when trading.

As is convention in the CFD brokerage industry, the standard account has no commissions but does have wider spreads, averaging between 0.5 and 1.8 pips.

The RAW account has the tightest spreads (at 0-1pips) but has commission costs of AUD $7 round-turn per standard lot, which is in-line with the industry standard for commission-based accounts.

eightcap account types australia

As an experienced trader, you will prefer the RAW account as the most cost-effective and profit opportunity, whereas the simplicity of the standard account will appeal to beginner traders.

Products

Eightcap has a modest offering of Forex, stocks, commodities and indices to trade. All of the biggest and most liquid markets are available, with 400 stocks a highlight from major stock exchanges in Australia, the U.S. and Europe.

When it comes to crypto trading, however, Eightcap really is king, with over 250 crypto products available using the MT5 platform. In addition to trading cryptocurrency against USD, Eightcap also allows traders to cross-pair cryptocurrencies, as well as trade crypto indices.

Trading Platforms

Eightcap provides an extensive selection of trading platforms, encompassing the complete MetaTrader suite, TradingView, Capitalise.ai, and unique platforms like Cryptocrusher and The Amazing Trader.

Opting for MT5 avails a broader spectrum of trading instruments and tools compared to MT4. These advanced tools facilitate in-depth price analysis, algorithmic trading apps (like trading robots, Expert Advisor), and copy trading.

TradingView serves as a potent charting platform with an added social networking feature for trade comparison and advice on trading strategies. It’s worth noting that TradingView is accessible only with a Standard account.

eightcap trading platform

Enhancing its status as the best crypto broker, Eightcap offers a unique platform called Cryptocrusher to give your crypto trading an edge. With this platform, you get crypto trading ideas, market analysis including indicators, trends and sentiment, educational resources and a live, 24-7 chat room.

Lastly, the Amazing Trader is an advanced charting algo platform that covers a range of products from FX, indices, cryptos and metals.

Our Verdict on Eightcap

Eightcap is considered the 2024 Robot Trading Australia and has many advantages, that start with their 250 cryptocurrency offering and include a great range of trading platforms, speciality platforms and trading tools to really supercharge your trading in the risky world of CFDs.

8. City Index Top Broker For Trading Tools

City Index

Forex Panel Score

66

Average Spread

EUR/USD = 0.07
GBP/USD = 0.011
AUD/USD = 0.8

Trading Platforms

MT4, TradingView, Web Trader

Minimum Deposit

$150

Why We Recommend City Index

City Index is part of the NYSE-listed StoneX group (SNEX) which also owns Forex.com. This broker operates as a market maker but you wouldnt know it because of its low spread average spreads.

Spreads for the City Index Standard account average 0.7 pips for EUR/USD and 0.07 pips with the RAW Spread Account. Commissions with RAW spread account is $3.50.

If using City Index WebTrader, you will get access to advanced tools such as guaranteed stop loss, Performance Analytics, Smart Signals, Advanced charts and Trading Central. All useful tools to help you make better trading decisions.

In our opinion, City Index is a highly versatile platform because it has a large range of share CFDs and provides multiple trading platforms.

Pros & Cons

  • Educational resources
  • Tight spreads
  • Fast execution speeds
  • No withdrawal fees
  • High stock CFD fees
  • High minimum deposit
  • No MetaTrader5
  • Inactivity fee

Broker Details

A Broker With A Great CFD Trading Platform For CFD Share Trading

An award-winning broker, winning the 2021 best CFD broker from Online Personal Wealth Awards, City Index has one of the great CFD trading platforms for share trading with a cleanly designed interface and versatile trading tools and features.

Major benefits of City Index include:

  • Versatile trading platforms
  • Extensive range of share CFDs
  • Excellent mobile trading
  • Powerful trading tools

City Index Account Types

City Index accounts provides CFD traders with the speedy execution of straight-through processing (STP) or direct market access (DMA)-style trading, together with the straightforward fee structure of a market maker account.

You have the option of either a Standard account, using the City Index trading platform, or a MT4 account using MetaTrader 4. Both are solid options, which will suit different traders based on your trading preferences.

Spreads for the Standard account are as low as 0.5 pips with commissions only for share CFDs, around 0.1% on average and 0% commissions for everything else.

The MT4 account, on the other hand, is primarily for Forex trading, with spreads as low as 0.8 pips for most major pairs. There are no commissions with this account.

Both accounts also give you access to different platform add-ons and trading tools. The Standard account offers powerful charting platform, TradingView while the MT4 account allows you to use a range of EAs (expert advisors) and custom indicators from FX Blue.

City Index Account Types and Products Australia

Products

You can trade a solid number of financial instruments with City Index, across a broad range of Forex, stocks, cryptos, indices, commodities, bonds and interest rates products.

Of particular note, City Index’s over 4500 share CFDs on offer stands out, with 84 forex pairs, also a highlight. While there are a smaller number of other products, you can also trade options (and knock-out options), which are more complex derivatives. Knock-out options are like barrier options which expire worthless if the underlying asset exceeds or falls below a specified price.

City Index Trading Platforms

City Index offers two powerful and versatile trading platforms in MetaTrader 4 and the broker’s own, proprietary platform. Both are suited for different trading purposes.

The City Index trading platform is recommended for shares trading, with both a wider access to the broker’s full product range and access to a range of additional charting, news features and order customisation tools.

For charting, the City Index platform allows you to utilise up to 80 indicators with powerful charting platform, TradingView, as well as an assortment of drawing tools. Trading Central modules can also be integrated which allows you access to technical analysis tools and complex order types such as trailing stop-losses and OCO (one-cancels-the-other). Then there is SMART signals,

MT4, on the other hand, is a popular Forex trading platform with access to EAs and custom indicators from FX Blue to boost your trading experience.

city index trading platforms

Both platforms are available via web or mobile app, while only MetaTrader 4 is also available on desktop.

Our verdict on City Index

All in all, City Index offers two powerful trading platforms, with the broker’s proprietary platform a particular highlight for trading their extensive share CFD range. Additionally, trading costs are competitive with many platform features and trading tools to enhance your trading experience.