Find the Best CFD Broker Here – Updated for 2018
Finding the best CFD brokers or Forex Broker in Australia is 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 a range of offers to get you started.
By far the most popular broker offer at present is the deposit bonus. While there is nothing wrong with accepting a bonus, just be aware that many of them have extremely strict criteria.
To claim your ‘bonus’, you will be asked to do a high number of trades. Alternatively, you may receive a 50% or 100% bonus but the money cannot be withdrawn at any stage. Instead, they are offering it to you as a way to access more leverage.
Bottom line is, deposit bonuses are great if they asked you to complete a reasonable number of trades. But most ask you to trade like a professional fund manager.
If the terms of the offer mean you have to trade the pants off your account, politely pass on the offer and just open a standard CFD or Forex trading account.
2018 CFD Broker Comparison Chart – Australia
Current offers from these CFD providers
The fee you pay the CFD provider to buy and sell CFDs in lots less than $10,000.
The fee you pay the CFD provider to buy and sell CFDs in lots less than $100,000.
The fee you pay the CFD provider to buy and sell CFDs in lots less than $1 million.
CFD providers will offer either Direct Market Access (DMA) style CFDs or Market Maker (MM) type CFDs. The DMA model is regarded as being more transparent when it comes to pricing, whereas the MM model is known to offer more order types and markets.
|More Details & Apply|
|Rebates scheme, Refer A Friend and a regular New Trader Bonus offer.||$0 (Commissions apply to Share CFDs only)||$0 (Commissions apply to Share CFDs only)||$0 (Commissions apply to Share CFDs only)||Market Maker||Apply|
|30% bonus on first deposit||$0||$0||$0||Market Maker||Apply|
|Free $10,000 demo account||$0||$0||$0||Market Maker||Apply|
|Varies||Varies||Varies||Direct Market Access |
or Market Maker
|0.70 AUD, 0.75USD for FX, round trip||7.00 AUD, 7.53USD for FX, round trip||70.0 AUD, 75.30USD for FX, round trip||Direct Market Access ||Apply|
|From 0.08%||From 0.08%||From 0.08%||Direct Market Access ||Apply|
|50% bonus with deposit||$0||$0||$0||Direct Market Access ||Apply|
Click play on the video below to see the top 6 questions you should ask your broker when looking for the best CFD broker in Australia.
From fantastic account opening offers to an extensive range of free CFD Tutorials, you get all of this for opening up and funding your CFD or Forex trading account.
With all these great giveaways on offer from your CFD & Forex broker, you’d be forgiven for thinking that ‘It’s too good to be true’.
But you can be sure the offers are genuine and these companies are doing their absolute best to get you off to a flying start.
Once again, just be mindful some require you to do 200+ trades in a short space of time to claim the offer. This falls into the over trading category, which you want to avoid.
Instead, stick to those offers that are genuine like:
- matching deposits or
- trading rebates that act like a safety net on your losses.