Compare CFD trading platforms in Australia in 2021

Name	Minimum Opening Deposit	Minimum Opening Deposit	Commission - ASX 200 Shares	Available markets	Platforms
Vantage FX CFD	$200	$200	$8 AUD or 0.08%	Forex, CFD shares, Indices, Cryptocurrencies, Commodities	MetaTrader 4 MetaTrader 5 TradingView	Disclaimer: CFD Service. Your capital is at risk. Vantage FX has some of the lowest CFD trading fees in Australia, plus you can place trades and find global trends through the new TradingView charts platform.	Go to site More Info	Compare	loading Fetching your data...
eToro CFD	US$200	US$200	No commission	Forex, Shares, Indices, Cryptocurrencies, Commodities, ETFs	eToro Trading Platform	Note: This broker offers CFDs which are volatile investment products and most clients lose money trading CFDs with this provider. Join the largest social trading network in the world.	Go to site More Info	Compare	loading Fetching your data...
Plus500 CFD	$200	$200	No commission	CFD on Forex, Commodities, Cryptocurrency, Indices, Shares, Options and ETF's	Plus500 Trading Platform	Disclaimer: CFD Service. Your capital is at risk. Trade CFDs on Australian and International shares, indices, cryptocurrencies, commodities and more.	Go to site More Info	Compare	loading Fetching your data...
IG CFD broker	$0	$0	0.08% with $7 minimum	Indices, FX, Shares, Commodities, Cryptocurrency, ETPs, Options, Interest Rates, Bonds	MetaTrader 4 ProReal Time IG Trading Platform and Apps L2	Disclaimer: CFD Service. Your capital is at risk. Trade from over 15,000 markets with Australia's leading service for CFD trading and forex.	Go to site More Info	Compare	loading Fetching your data...
IC Markets CFD (True ECN Account)	US$200	US$200	0.1% per side	ASX shares, global shares, indices, commodities, forex, cryptocurrencies	MetaTrader 4 MetaTrader 5 cTrader	Disclaimer: CFD Service. Your capital is at risk. Trade 230+ different products with fast execution under 40 milliseconds on average.	Go to site More Info	Compare	loading Fetching your data...
Saxo Capital Markets CFD	3,000	3,000	0.10% with $6 minimum	Indices, FX, Shares & ETFs, Commodities, Cryptocurrencies, Options, Bonds	SaxoTraderGO SaxoTraderPRO	Disclaimer: CFD Service. Your capital is at risk. Award-winning trading platfrom with extensive charting tools and reliable execution.	Go to site More Info	Compare	loading Fetching your data...
Blueberry Markets CFD Trading	US$100	US$100	$20 per month subscription plus 2% of trade size	Indices, ASX200 Shares, Commodities, Cryptocurrency	MetaTrader 5	Disclaimer: CFD Service. Your capital is at risk. Bottom of the market fees on forex, CFDs and commodities with 24/7 quality customer service.	Go to site More Info	Compare	loading Fetching your data...
CMC Markets	$0	$0	0.09% with a $7 minimum	Forex, Indices, Commodities, Cryptocurrencies, Global shares, ASX shares, Bonds	CMC Next Generation CFD, MetaTrader 4	Disclaimer: CFD Service. Your capital is at risk. Share CFD and forex ideas with other traders and take your strategy to the next level with over 100 technical indicators and charts on CMC’s mobile-friendly Next Generation platform.	Go to site More Info	Compare	loading Fetching your data...
Pepperstone CFD	$200	$200	No commission	ASX shares, global shares, indices, cryptocurrencies, commodities	MetaTrader 4 MetaTrader 5 cTrader	Disclaimer: CFD Service. Your capital is at risk. Trade stock indices on the global market, via Pepperstone's MetaTrader 4 and cTrader client terminals.	Go to site More Info	Compare	loading Fetching your data...

Compare up to 4 providers

Trading CFDs and forex on leverage is high-risk and you could lose more than your initial investment. It may not be suitable for every investor. Refer to the provider’s PDS and consider the risks before trading.

What are CFDs?

Contracts for difference (CFDs) are derivative investment products where a trader can speculate on the price movements of stocks, commodities, market indices and cryptocurrencies. You can also trade CFDs on currencies, but in Australia we typically refer to this as forex trading.

Because you're trading a contract, rather than owning the underlying asset, CFD traders can both profit and lose money regardless of whether prices are going up or down. For that reason, CFD trading often becomes more popular during times of market volatility, as traders seek to profit by 'shorting' the market when it falls.

Vantage FX CFD Trading Offer

Enjoy some of the lowest CFD trading fees in Australia when you trade stocks, forex, commodities and cryptocurrencies.

Trade stock & index CFDs, metals, commodities, energy
$0 commission for clients with a standard account
24-hour customer support

Go to site

Disclaimer: Trading CFDs and forex on leverage is high-risk and losses could exceed your deposits.

Why trade CFDs?

CFDs allow you to speculate on thousands of financial products and global markets which you may otherwise be unable to access.
You can go long or short, hence you can profit (and also lose money) in both rising and falling markets.
You can usually access free demo accounts, plus charts and trading tools through your broker.
CFD contracts don’t necessarily have a fixed expiry date, meaning you can close out your position when you decide.

How to select the best CFD trading platform

The CFD broker you chose will very much depend on your trading style and what instruments or assets you prefer to use. If you're looking for the best online platform or app for you, consider the following:

Available markets. Does the broker offer forex, gold, silver, cryptocurrency, stock market indices, global stock CFDs, ASX200 CFDs
Direct share CFDs. Not all brokers offer CFD trading on shares, and some that do charge an additional subscription fee to access them
Currencies. If you're looking to trade forex, check whether your preferred pairings are being offered
Commission fees. There's often a brokerage fee charged when trading stock and stock index CFDs, check it's not too high
ASX live data. Does it charge a fee to access live stock market data from the ASX and other stock market indices?
Minimum opening balance. Some brokers require a high minimum opening balance before you start trading – consider trialling the demo version first if it has one
Platforms and software. Which trading platforms do they offer and can you add-on software or analytics tools such as PsyQuation?
Other types of trading. Do you also want to invest directly in shares, ETFs, forex or managed funds?

What can you trade with CFDs?

Some of the most common markets you can access with CFDs are shares, indices, forex, bonds, cryptocurrencies and commodities like oil or gold.

If you want to trade CFDs, you need to fully understand how the CFD itself works as well as the underlying asset. If you have no experience trading shares, for example, it's probably not be a good idea to buy a shares CFD.

What are the risks?

CFDs are extremely risky, complex products and are ideally only suited to very experienced financial traders. Here are some of the potential risks that you should know about before deciding if CFD trading is right for you.

CFDs are complex. CFDs are very intricate and confusing products. Even if you have a general understanding of what a CFD is, this doesn’t mean you’re ready to start trading CFDs.
You can lose more than your initial capital. If you gamble on the pokies, the most money you can lose is the amount you put into the pokie machine. This is not the case with CFDs. If you lose a CFD trade you can lose much more money than you started with, meaning you actually owe the CFD provider money, sometimes hundreds of thousands of dollars.
You don’t own the underlying asset. When trading CFDs all you own is the contract between you and the CFD provider. Therefore you can’t benefit from the capital growth of the underlying asset over the long term.
CFDs depend on how the market performs. Even though you don’t own the underlying asset, CFDs are still affected by market conditions. This can increase risks even more in a volatile market.

How to decide if CFDs are right for you

Due to the complexity and high level of risk involved, CFDs will not be suitable for the vast majority of traders. CFDs could be right for you if you:

Are an experienced trader
Have a strong understanding of not only CFDs but many financial products and markets
Possess a high tolerance to risk, and are not at all risk-averse
Can afford to lose quite a bit of money (it’s not guaranteed that you will, but you need to be comfortable you can afford to lose if you did)
Have some level of legal expertise to understand the complexity of CFDs
Are not interested in owning the underlying assets
Understand the measures available to minimise your risk and are experienced using these tools, for example stop-loss orders
Have conducted plenty of research – trading CFDs is not a decision that should be taken lightly

Ready? Compare CFD trading accounts now.

Wait, I still have more questions!

1. Some of the underlying assets that you can trade CFDs on include Australian and international shares, indices, commodities, foreign exchange and treasuries.
When you buy shares in a company you are usually entitled to dividends, and although trading CFDs means you never actually purchase shares, you can still take advantage of some of the benefits of ownership. When you buy a CFD, your trading account will be credited with a certain amount of money that reflects the dividend amount an ordinary shareholder would receive. When you sell a CFD, your account will be debited a similar amount which will be paid to the counterparty.

Ask or Ask price. This is the price a CFD trader can open a Sell Position, or close a Buy position.
ASIC. The Australian Securities and Investment Commission
Bid or bid price. The price a CFD trader can open a Buy Position, or close a Sell Position.
CFD (Contract for difference). This is a contract entered into by two parties who agree to exchange money according to the change in value of an underlying asset.
Contract currency. This is the currency in which a particular asset is traded.
Dealing. Dealing is when you open or close a CFD position.
Derivative. A financial instrument whose price is derived from an underlying asset.
Going long. When you open a buy position.
Going short. When you open a sell position.
Hedging. Taking an opposite position to reduce the risk associated with an initial position.
Initial margin. This is the minimum initial amount of money a CFD trader must outlay to open a position.
Leverage. Leverage allows you to trade a larger value asset than the worth of your initial investment. This is sometimes also referred to as gearing.
Open interest. This is the interest rate that applies to all CFD positions that are held open overnight.
Stop-loss. A stop-loss order can be placed when a CFD position is opened and is triggered when the price reaches a specified level. These orders are used to close out positions that have resulted in a loss and aim to prevent further loss.

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

Thank you for your feedback!

Belinda Punshon

Belinda Punshon worked for Finder as a writer on home loans and property and as a corporate communications executive. She has a Masters in Advertising, Public Relations and Journalism from the University of New South Wales and a Bachelors in Business from the University of Technology Sydney.

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