CFD Brokers – Australia

Find the best CFD broker here

Finding the best CFD broker in Australia is definitely a tough task as the competition in Australia is incredibly hot. The main CFD brokers have amazing enticements to get you on their books and you'll find freebies gallore.

From mobile phones to an extensive range of free CFD Tutorials and just think, you get all of this just for opening up and funding your CFD trading account with $1,000.

With all these great giveaways on offer from your CFD broker you'd be forgiven for thinking that 'It's too good to be true', but you can be rest assured the offers are genuine and these companies are doing their absolute best to get you off to a flying start.

But nothing is for free - what is the true cost?

Your CFD broker didn't come down in the last shower so to speak and they understand exactly how important it is to secure your business in the highly competitive CFD broking business. They want your business and are willing to pay for it (at least initially).

The reality is you will open your CFD trading account, receive the special and then do nothing. Unlikely . Instead, you'll open your CFD trading account, receive the special and have flashing lights, markets moving up and down and opportunities everywhere.

Guess what...It's time to trade.

So you dip your toe in the water and decide 'I'll just give it a go'. Now the fun begins. You're in the market and experiencing first hand the trials and tribulations of winning and losing with real money. Congratulations.

Here at LearnCFDs.com we'd prefer that you get started on the right foot, so we've compiled a few things to think about when deciding which CFD broker is right for you.

Your CFD Broker - 5 things to look for

When choosing a CFD broker you may want to consider the following 5 key points before jumping on board.

How many ASX stocks do they give you access to? Ideally you want to be able to trade a minimum of the top 500 ASX stocks through your CFD broker and some offer over 2,000 ASX stocks
Does the CFD broker provider a Market Maker CFD model or a Direct Market Access CFD model? Both have their advantages and disadvantages but there is no perfect solution here
Is the CFD broking platform easy to operate? You don't want to be spend the first 2 months learning the software they provide. Ask your CFD broker if they have some basic CFD tutorials on using the software
How many stocks are you able to short sell? Some CFD brokers have restrictions on short selling so it's best to find out up front what you can and cannot trade. Your CFD broker should have a list of the ASX stocks they allow and whether short selling is available on them
What trading costs does the CFD broker charge? There are other costs to trading apart from your trading commissions. You need to ask about:
- Commission charges
- CFD Financing rates
- Software fee's
- Accessing ASX data

Armed with this basic information you should be able to ask the right questions and get the exact information you need to make the right decision when looking for the ideal CFD broker.

CFD Broker Comparison Chart - Australia

	GFT	CMC Markets	IG Markets	MF Global	Macquarie Prime	Etrade	FP Markets	City Index
--Basics _	-----______	---------____	-------------	--------___	---------__-	-------___	-------------	_________
DMA or MM	MM	MM	DMA	DMA	DMA	DMA	DMA	MM
ASX CFDs Offered	500+	500+	1,000	500+	950	500+	2,000	500+
Pre Open Auction		No	Yes	Yes	Yes	Yes	Yes	Yes
Platform Used	Dealbook® 360,Web & Mobile	MarketMaker ®	IG Pure Deal	eMPower	MQ Prime	Power E*Trade	WebIress	City Index
Account Opening $	$2,500	$1,000	$0	$5,000	$5,000	$5,000	$5,000	$1000
Software Demo Trial	30 days Free	14 days	14 days	21 days	14 days	20 days	14 days	14 days Free
Margin Rates	Starting at 0.5%	3-50%	5-50%	5-80%	5-80%	5-80%	5-100%	0.5-100%
Commission	__________	__________	__________	__________	_________	_________	__________	_________
%	As low as 0.10%	0.10%	0.10%	0.125%	0.12%	0.1195%	0.10%	0.10%
Phone Orders	As low as 0.10%	0.10%	0.10%	0.125%		0.175% +$38.50	0.10%	0.10%
Vol Discounts	0.07-0.10%	0.06-0.08%	0.08%	0.08-0.10%	0.07-0.1%	0.10%	Neg%	0.6%-0.8%
Min Commission	$10	$10	$8	$12.5	$10	$11.95	$10	$10
_Financing_	--------------	_________--	--------------	-----------_	-------------	------------	--------------	------------
Long CFDs	LIBOR +3%	RBA +2%	LIBOR +2.5%	MBR +3%	RBA +2.5%	RBA +3%	RBA +3%	RBA +2%
Short CFDs	LIBOR -3%	RBA -2%	LIBOR -2.5%	MBR -3%	RBA -2.5%	RBA -3%	RBA -3%	RBA -2%
Interest Paid		RBA-2% >$US10K		MBR -1%	7.25%			RBA-2% >$AUD10K
--Markets -	-------------	--------------	-------------	-----------_	-------------	------------	-------------	------------
Int CFDs	45+ Int	19 Int	20 Int	7 Int	No	No	17 Int	15 Int
CFD Indices	40+	20	29	No	No	No	No	40+
Forex	60+	72	64	30+	No	No	Yes	64
Commodities	Yes	Yes	Yes	Yes	No	No	Yes	Yes
Futures	Yes	No	No	Yes	No	No	Yes	Yes
Options	No	No	Yes	No	No	No	No	No
Warrants	No	No	No	No	No	No	Yes	No
ASX Equities	Yes	Yes	No	No	Yes	No	Yes	Yes
Shares as Collateral	No	No	No	No	Yes	No	Yes	No
-- Fee's--	-------------	--------------	-------------	---------_--	-------------	------------	-------------	------------
ASX fee	Free	$38.50	$37.50	$41.25	$41.25	Free	$38.50	$41.50
Platform fee	Free	Free	Free	$41.25	Free	$79.90	$50	Free
OrderTypes	-------------	--------------	-------------	--------_---	-------------	------------	-------------	------------
GSL	Yes	Yes	Yes	No	Yes	No	No	Yes
ATS	Yes

GSL: Guaranteed Stop Loss Order
ATS: Automated Trailing Stop

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Disclaimer: Trading Contracts for Difference carry risk where you can lose more than what you start with. View our full disclaimer here.

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