Pepperstone is the CFD broker we rate best for Australian traders: its Melbourne firm holds AFSL 414530, you choose between spread-only and raw-spread pricing, and you can fund an AUD account from $10 by PayID, BPAY or card. Capital.com is the alternative if you want guaranteed stop-loss orders and no commission.
Short answer: Choose Pepperstone for pricing choice and platforms; choose Capital.com for guaranteed stops and a simpler commission-free account.
ASIC's product intervention order caps retail leverage at 30:1 on major currency pairs, 20:1 on gold and major indices, 10:1 on other commodities, 5:1 on shares and 2:1 on crypto.
Every ASIC-licensed CFD issuer must close out retail positions when equity falls below 50% of margin, and must give negative balance protection.
Pepperstone offers over 1,350 CFDs on MT4, MT5, cTrader, TradingView and its own platform; Capital.com lists more than 5,500 instruments.
Pepperstone's TMD says its CFDs are not suitable for people with no prior trading experience.
Complaints that a firm can't resolve go to AFCA, Australia's free external dispute scheme.
What an Australian CFD account involves
Signing up at pepperstone.com/en-au opens an account with Pepperstone Group Limited at 727 Collins Street, Melbourne. Before approving you, it must check your answers against its Target Market Determination, the document every Australian product issuer now publishes to say who a product is and isn't for. Its TMD targets traders with some experience who speculate over three months or less, or who hedge.
You can hold the account in AUD, USD, EUR, GBP, SGD or HKD. Funding is free by PayID, BPAY, card, Apple Pay, Google Pay and PayPal from $10, or by bank transfer with no minimum.
Best CFD broker in Australia
AFSL 414530 from Melbourne, Standard and Razor accounts, five platforms and free AUD funding by PayID or BPAY from $10.
Pepperstone's Australian site does not publish a retail-loss percentage. Its AU risk warning: "Trading CFDs and margin FX is risky. It isn't suitable for everyone."
Guaranteed stops, no commission
Capital Com Australia Pty Ltd (AFSL 513393) lists over 5,500 markets, charges no commission and lets you add guaranteed stop-loss orders.
Capital.com's Australian site does not publish a retail-loss percentage. Its AU risk line: "Most traders lose money."
Pepperstone, Capital.com and XS are our partners. We may earn a commission if you open an account through our links. That does not change the facts on this page.
Your questions, answered
Which CFD trading platform is best suited for Australian traders?
The best platform is the one that fits how you trade, and Pepperstone lets you choose from five on one account: its own web platform and app, MT4, MT5, cTrader and TradingView. For Australians the practical points are an AUD base currency, free PayID and BPAY deposits, and phone support on 1300 033 375. If you're unsure, start with MT5 or the Pepperstone app, which work on both account types.
What is considered the best CFD trading platform in Australia right now?
Pepperstone won Best in Forex and CFD: Australia at the 2025 TradingView broker awards, which reflects ratings from TradingView users. Awards are a starting point, though. Check that the firm holds an AFSL, compare total costs for the markets you trade, and test the platform on a demo before you deposit.
Which CFD brokers offer negative balance protection?
Every ASIC-licensed CFD issuer must give negative balance protection to retail clients under ASIC's product intervention order, so Pepperstone, Capital.com, IC Markets, CMC Markets and IG all do. If a retail Pepperstone account goes below zero, it resets it to zero. Professional clients lose this: Pepperstone Pro accounts get one-time protection of up to USD 100,000, and Capital.com Pro accounts get none.
Which CFD brokers offer free demo accounts?
Most do, and the ones we checked all offer free demos: Pepperstone, Capital.com, IC Markets and CMC Markets. Pepperstone's demo gives you an unlimited virtual balance on any of its five platforms, and Capital.com's demo has no expiry. A demo shows you the platform and spreads, but not live slippage or how you feel losing real money.
Which brokers offer the most CFD instruments?
By the firms' own counts: IG Australia lists more than 18,000 markets, CMC Markets more than 12,000 CFD instruments, Totality (formerly Saxo Australia) more than 8,600 CFDs, Capital.com more than 5,500 and Pepperstone more than 1,350. Pepperstone's list is shorter mainly because it carries fewer single-share CFDs. If you trade forex, indices and gold, 1,350 is plenty.
Who are the best CFD brokers for beginners?
Start with a firm that keeps costs simple and limits your downside. Pepperstone's Standard account puts all trading costs except overnight funding into the spread, and you can learn on a demo first. Capital.com suits beginners who want guaranteed stops to cap the loss on each trade. Be honest about experience: Pepperstone's TMD says its CFDs are not suitable for people with no prior trading experience.
How do I check if a CFD broker is legitimate?
Search the firm's AFSL number on ASIC's professional register and check that the licence holder's name matches the company on the PDS you sign. Pepperstone's is Pepperstone Group Limited, AFSL 414530; Capital.com's is Capital Com Australia Pty Ltd, AFSL 513393. Check AFCA membership too (Pepperstone's is 28689). Be wary of lookalike websites and unsolicited calls offering high returns: genuine firms never ask for your login.
Which CFD brokers are safest during high market volatility?
No CFD broker makes volatility safe; it only changes how losses are handled. Look for negative balance protection, client money held in segregated bank accounts, clear stop-out rules and, if you want certainty on exit price, guaranteed stops. Pepperstone has the first three but not guaranteed stops, and its stops can slip in fast markets. Capital.com offers guaranteed stops for a premium charged only if triggered.
Minimum deposit required for CFD trading brokers?
Among ASIC-licensed firms we checked: Pepperstone asks $10 by card, PayID, BPAY or PayPal; Capital.com asks 20 AUD, or 250 AUD by wire; IC Markets lists a USD 200 starting deposit; Fusion Markets and Totality state no minimum. A small deposit limits how much you can lose, but it also limits position size under ASIC's leverage caps.
Best CFD brokers for trading US stocks
Pepperstone offers CFDs on more than 600 NYSE and Nasdaq shares at USD 0.02 per share per side, and more than 100 of them trade 24 hours on weekdays. Fusion Markets charges no commission on its 110-plus US share CFDs on MT5, and Capital.com builds costs into the spread but adds a 0.7% conversion on USD profits in an AUD account. If you want to own US shares, see our guide for Australians.
Which CFD brokers are best for news and event trading?
For news trading, look at three things: hours, execution and stop handling. Pepperstone's 24-hour US share CFDs let you react to after-hours earnings, and its perpetual CFDs trade through weekend news. It publishes a 99.32% fill rate, but stops are not guaranteed and spreads widen at releases. If you need a fixed exit through a gap, Capital.com's guaranteed stop-loss orders are the tool Pepperstone lacks.
Are CFDs good for day trading?
CFDs suit day trading better than long holding because positions closed the same day avoid overnight funding, and you can go short as easily as long. The costs that matter are the spread and commission on each trade. On Pepperstone Razor, a forex round turn costs AUD 7 per lot in commission plus the raw spread. Remember the 50% close-out: a fast move can close a leveraged position before your stop.
Is CFD trading good for beginners?
Usually not as a first investment. Pepperstone's own TMD says its CFDs are not suitable for people with no trading experience, people who need predictable returns or anyone with a low or medium appetite for risk. If you are new, learn on a demo, trade small, and treat any money in the account as money you can afford to lose. Owning shares or ETFs is a gentler start.
who is the best cfd broker in australia?
It depends on what kind of trader you are. For raw pricing and platform choice, Pepperstone. For the lowest raw-account commission, Fusion Markets, at $2.25 per side. For the widest market list, IG Australia or CMC Markets. For guaranteed stops without commission, Capital.com. For CFDs alongside shares, bonds and options, Totality. All five hold ASIC licences.
best cfd broker australia
We rank on five tests, in this order: an Australian licence and AFCA membership, total cost for the markets you trade, platform choice, funding in AUD, and honest disclosure of limits. Pepperstone comes out on top because it passes all five and publishes its Australian fees in full. It is not cheapest on every line: Fusion Markets charges less commission and CMC Markets quotes tighter spread-only forex.
Top ASIC regulated CFD brokers with low fees
On raw-account commission per lot per side: Fusion Markets at $2.25, then Pepperstone and IC Markets at 3.50 on MetaTrader. On spread-only forex, CMC Markets quotes EUR/USD from 0.5 and AUD/USD from 0.6. On ASX share CFDs, Pepperstone's 0.07% with no minimum beats CMC's 0.09% with a AUD 7 minimum. Their licences: Fusion's FMGP Trading Group, AFSL 385620; IC Markets, 335692; CMC Markets, 238054.
Which CFD broker offers the most instruments in Australia?
Raw counts hide what you can actually use. Pepperstone's breakdown shows where its 1,350-plus instruments sit: 93 forex pairs, 26 index CFDs, 1,162 share CFDs, 40 commodities, 95 ETFs and 31 crypto CFDs. Larger lists at IG or CMC Markets mostly add single shares. If you trade forex, gold and indices, compare the markets you'd use, not the headline total.
What is the best CFD trading account in Australia?
For most new traders, a Pepperstone Standard account in AUD: no commission except on share CFDs, a $10 minimum and the Pepperstone platform, MT5 or cTrader. Active forex and gold traders usually save with Razor, which pairs raw spreads with AUD 3.50 per lot per side. If you'd rather never think about commission and want guaranteed stops, Capital.com's single account is the alternative.
Published 2026-10-21. Informational only, not investment advice. CFDs are leveraged products and most retail accounts lose money.
Best CFD broker in Australia
Guaranteed stops, no commission