Pepperstone is our pick for index CFDs in Australia: 26 index CFDs with no commission, the AUS200 in both cash and forward form, US500 spreads from 0.4 points and NAS100 and US500 perpetuals that trade at weekends. Capital.com is the alternative if you want 24/5 trading on major indices with guaranteed stops.
Short answer: Pepperstone for index pricing and hours, Capital.com for guaranteed stops and 24/5 access to eight major indices.
ASIC caps retail leverage at 20:1 on major indices (5% margin) and 10:1 on minor indices.
Index holding costs at Pepperstone: 2.5% a year above the benchmark rate on longs, 2.5% below on shorts.
Forward index CFDs such as AUS200-F carry no daily swap; the cost is in a wider spread.
Pepperstone does not publish a minimum AUS200 spread on its Australian costs page.
Trading the ASX 200 at Pepperstone
The S&P/ASX 200 trades at Pepperstone as AUS200 (cash) and AUS200-F (forward). Its PDS shows one lot moves AUD 1 per index point: in its example, an ANZ dividend worth 10.5 index points credits a long one-lot holder AUD 10.50 and debits a short holder the same.
AUS200 trades from 02:50 to 09:30 and 10:10 to 23:59 platform time (GMT+2, or GMT+3 during US daylight saving), with a short break, and is closed at the weekend.
Best for index CFDs
26 commission-free index CFDs including AUS200 cash and forward, tight US index spreads and 24/7 perpetuals on the NAS100 and US500.
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."
24/5 indices, guaranteed stops
Capital.com trades US 500, US Tech 100, Wall Street 30, Germany 40, Japan 225 and others 24/5, with optional guaranteed stops.
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
What are the hidden costs I should look for when trading indices?
Three costs are easy to miss. Overnight funding on cash index CFDs accrues every night you hold, at Pepperstone 2.5% a year above the benchmark rate on longs. Dividend adjustments debit short positions when index members go ex-dividend. And currency conversion matters when an index is priced in USD but your account is in AUD: Pepperstone charges no conversion fee on trades, while Capital.com applies 0.7%.
How do I trade the ASX 200 as a CFD?
Open a CFD account, search for AUS200 on your platform, choose a size and go long if you expect the index to rise or short if you expect it to fall. At Pepperstone one lot moves AUD 1 per point, and ASIC's 20:1 cap means you post 5% of the position as margin. Use the forward AUS200-F instead if you plan to hold for weeks, since it carries no daily swap.
What is the spread on the AUS200 index CFD?
Pepperstone's Australian costs page does not list a minimum AUS200 spread; it shows US and European indices instead, so check the live quote on your platform. Capital.com uses a 1-point spread on the Australia 200 in a worked example on its pricing page, but labels it as illustrative. Spreads on the AUS200 tend to widen outside the local session.
Can I trade US indices from Australia?
Yes. Pepperstone offers the US30, US500, NAS100, US2000 and VIX, with the big three trading from 01:00 to 23:59 platform time, which covers most of the Australian day. All are commission-free with spreads from 0.4 points on the US500. Prices are in USD; Pepperstone converts profit to AUD at the spot rate without a conversion fee.
What leverage can I use on index CFDs in Australia?
Retail clients can use up to 20:1 on major indices, meaning 5% margin, and up to 10:1 on minor indices, under ASIC's product intervention order. A AUD 10,000 position on the AUS200 or US500 therefore needs AUD 500 of margin. Pepperstone Pro clients can reach 400:1 on major indices but lose negative balance protection beyond a one-time USD 100,000.
Best broker for trading the Nasdaq from Australia
Pepperstone gives you three ways to trade it: NAS100 cash from 1.0 point on Razor, NAS100-F forward with no daily swap, and NAS100-PERP, which trades 24/7 with weekly funding. None charges commission except the perpetual, at 0.015% per side. Capital.com's US Tech 100 trades 24/5 if you'd rather have guaranteed stops.
How does overnight funding work on index CFDs?
Pepperstone charges (closing price × size × (2.5% ± benchmark rate)) ÷ 360 each night. As an illustration, with a 4% benchmark a long USD 50,000 position pays 6.5% a year, about USD 9 a night, while a short receives 1.5%, about USD 2. Capital.com uses the same structure but its fee is 4% a year above the benchmark. Forward contracts avoid this charge.
Which broker has the tightest spread on the S&P 500?
Among the published figures we found, Pepperstone's US500 minimum is 0.4 points on Razor and 0.5 on Standard, with no commission. We could not find a comparable published S&P 500 minimum on the other Australian broker pages we checked, so we can't say who is tightest overall. Minimums apply in liquid US hours and widen after the close.
Can I trade indices outside exchange hours in Australia?
Yes. Pepperstone's US30, US500 and NAS100 run almost around the clock on weekdays, and it added 23/5 trading on the HSTECH, US400 and TAIEX on MT5 and cTrader. For weekends, its NAS100 and US500 perpetual CFDs trade 24/7. Capital.com offers 24/5 trading on nine major indices and says its out-of-hours prices follow futures markets, where liquidity can be thinner.
What is the best broker for trading the ASX 200?
For the ASX 200 we'd use Pepperstone, because it offers both the AUS200 cash CFD and the AUS200-F forward, so short-term and multi-week traders each have a fitting contract, with a long session and no commission. Note that Capital.com's 24/5 list does not include the Australia 200, though it does offer the index in normal hours.
Which broker has the lowest spread on the Nasdaq 100?
Pepperstone lists the NAS100 from 1.0 point on Razor and 1.2 on Standard, and the NAS100 perpetual at a 1-point spread. We didn't find other Australian firms publishing a fixed Nasdaq 100 minimum we could compare. Remember the perpetual adds a 0.015% commission per side, so for a day trade the cash NAS100 is usually cheaper.
Can I trade the Dow Jones as a CFD in Australia?
Yes. At Pepperstone the Dow trades as US30, from 2.0 points on Razor and 2.3 on Standard, with a forward version, US30-F. It is classed as a major index, so ASIC's 20:1 cap applies. Capital.com lists it as Wall Street 30 with 24/5 trading.
Which brokers offer the most index CFDs?
Large multi-asset firms such as IG Australia and CMC Markets carry longer index lists within their 18,000-plus and 12,000-plus instrument ranges. Pepperstone has 26, which cover the main US, European and Asian benchmarks plus three currency indices: the USDX, EURX and JPYX. Unless you trade niche markets such as Norway's NOR25 or South Africa's SA40, which Pepperstone also lists, 26 is enough.
What is the best platform for trading indices?
TradingView is hard to beat for charting index levels, and Pepperstone connects it to Razor accounts. MT5 and cTrader are the only Pepperstone platforms with its newer 23/5 HSTECH, US400 and TAIEX contracts. If you hedge a share portfolio by shorting an index, the Pepperstone app's position view is the quickest way to watch both.
Can I trade the Hang Seng or Nikkei from Australia?
Yes. Pepperstone lists the Hang Seng as HK50 (cash and forward), plus CHINAH, CN50 and the HSTECH tech index, and the Nikkei as JPN225, from 7 points on Razor and 9 on Standard. Asian indices trade through the Australian business day, which suits local traders. Capital.com also lists Hong Kong 50 and Japan 225 with 24/5 hours.
Which brokers offer index CFDs with no commission?
Pepperstone charges no commission on index CFDs on either account; all costs are in the spread. Capital.com charges no commission on any of its markets. The exception at Pepperstone is perpetual index CFDs such as NAS100-PERP, which carry 0.015% per side. Overnight funding still applies to cash index positions everywhere.
What is the best broker for trading the DAX from Australia?
Pepperstone lists the DAX as GER40, from 0.9 points on Razor and 1.2 on Standard, trading from 03:15 to 22:59 platform time, plus GER40-F, the GERTEC30 tech index and MidDE50 mid-caps. The DAX's cash session opens in the late afternoon or evening in Australia, so most local traders trade its European morning. Capital.com's Germany 40 trades 24/5.
Published 2026-10-21. Informational only, not investment advice. CFDs are leveraged products and most retail accounts lose money.
Best for index CFDs
24/5 indices, guaranteed stops