1. Mitrade — An Accessible CFD Trading Platform for Australian Traders
Mitrade offers a proprietary trading platform designed for access to global CFD markets through web and mobile interfaces.
For Australian traders interested in short-term price movements across forex, stock indices and commodities, Mitrade provides an integrated environment for market analysis and trade management.
Key Features
Access to available forex, index, commodity and share CFDs.
Web and mobile trading platforms.
Charting and technical analysis tools.
Stop-loss and take-profit order functionality.
A demo account for practising with virtual funds.
Spread-based pricing on most CFD products.
Access to both long and short CFD positions, subject to market conditions and account requirements.
Access to available forex, index, commodity and share CFDs.
Web and mobile trading platforms.
Charting and technical analysis tools.
Stop-loss and take-profit order functionality.
A demo account for practising with virtual funds.
Spread-based pricing on most CFD products.
Access to both long and short CFD positions, subject to market conditions and account requirements.
Pros
Straightforward platform interface.
Multiple CFD markets accessible through one platform.
Demo trading available.
Risk-management orders integrated into the trading experience.
Australian financial services licensing.
Straightforward platform interface.
Multiple CFD markets accessible through one platform.
Demo trading available.
Risk-management orders integrated into the trading experience.
Australian financial services licensing.
Cons
CFD trading involves leverage and significant risk.
Traders do not own the underlying shares or commodities.
Spreads and execution prices can vary with market conditions.
CFD trading involves leverage and significant risk.
Traders do not own the underlying shares or commodities.
Spreads and execution prices can vary with market conditions.
Mitrade Global Pty Ltd holds Australian Financial Services Licence (AFSL) 398528 and is regulated by the Australian Securities and Investments Commission (ASIC).
Australian retail CFD clients are subject to regulatory protections, including leverage limits, margin close-out requirements and negative balance protection.
However, ASIC regulation does not remove trading risk or guarantee that a trader will make money.
Mitrade generally uses spread-based pricing for its CFD products.
Depending on the instrument and trading circumstances, costs may include:
No separate dealing commission under the advertised spread-based model
Overnight financing for positions held beyond the relevant rollover time.
Deposit and withdrawal fees-Generally not charged by Mitrade in most cases; exceptions and third-party charges may apply
No separate dealing commission under the advertised spread-based model
Overnight financing for positions held beyond the relevant rollover time.
Deposit and withdrawal fees-Generally not charged by Mitrade in most cases; exceptions and third-party charges may apply
Traders should review the Mitrade CFD Trading Costs & Fees and account disclosures before trading.
Explore Mitrade's CFD Trading Platform
“Discover available markets, charting tools, account features and trading conditions. ”
2. Pepperstone — Best for Forex Day Trading and Scalping
Pepperstone is an Australian-founded broker known for its focus on forex and CFD trading.
It offers access to established third-party trading platforms, including MetaTrader 4, MetaTrader 5, cTrader and TradingView, subject to account and product availability.
These platforms provide features that may appeal to technically experienced traders, including advanced charting, automated trading and custom indicators.
Key features
Multiple third-party trading platforms
Forex and CFD market access
Support for automated trading strategies on compatible platforms
Account options with different spread and commission structures
Charting and order management tools
Multiple third-party trading platforms
Forex and CFD market access
Support for automated trading strategies on compatible platforms
Account options with different spread and commission structures
Charting and order management tools
Trading fees: Pepperstone's pricing depends on the account type. Razor-style pricing generally combines raw spreads with a separate commission, while other accounts may incorporate more of the cost into the spread.
Pros: Broad platform choice, automation support and forex-focused trading tools.
Cons: Pricing can be more complex to compare, and advanced platforms may involve a learning curve.
Best suited for: Experienced forex day traders and scalpers who prioritise platform customisation and automated strategies.
3. IG — Best for Advanced Trading Tools and Market Coverage
IG offers trading services across a wide range of financial markets, with products and account types varying by jurisdiction.
For Australian day traders, its main attraction is the combination of market access, research resources and advanced analytical tools.
Depending on the product, IG offers access to its proprietary platform and selected third-party charting or trading software.
Key features
Multi-market trading services
Advanced charting and market research
Economic news and analysis
Multiple order types
Access to trading tools for experienced users
Multi-market trading services
Advanced charting and market research
Economic news and analysis
Multiple order types
Access to trading tools for experienced users
Trading fees: IG's fee structure depends on the product being traded. CFD spreads, share CFD commissions, financing costs and other account-related charges may apply.
Pros: Broad market coverage, research resources and advanced analysis.
Cons: Product-specific fees require careful comparison, and some tools may be more suitable for experienced traders.
Best suited for: Active traders seeking sophisticated market analysis and a wider selection of trading tools.
4. CMC Markets — Best for Technical Analysis
CMC Markets offers CFD trading and other brokerage services through different products and platforms.
Its Next Generation trading platform is known for technical analysis features, charting tools and market monitoring capabilities.
Australian traders should distinguish between CMC's CFD trading service and its share investing service because fees, asset ownership and trading conditions differ.
Key features
Next Generation trading platform
Advanced technical indicators
Charting and drawing tools
Market news and analysis
Access to multiple financial markets
Next Generation trading platform
Advanced technical indicators
Charting and drawing tools
Market news and analysis
Access to multiple financial markets
Trading fees: CFD spreads and applicable financing costs vary by instrument. Certain products, including share CFDs, may carry separate commissions.
Pros: Comprehensive charting tools and technical analysis functionality.
Cons: Advanced features may require time to learn, and costs depend on the product and account.
Best suited for: Day traders who use technical indicators, price patterns and detailed chart analysis.
5. Interactive Brokers — Best for Active Share and Options Traders
Interactive Brokers is a global brokerage provider offering access to a broad selection of financial markets.
Its Trader Workstation (TWS) platform is designed for active traders who require sophisticated order types, analytical tools and multi-market functionality.
Unlike a CFD-only platform, Interactive Brokers provides access to direct trading in eligible securities, depending on the client's account permissions.
Key features
Access to Australian and international exchanges
Trader Workstation and other trading interfaces
Advanced order types
Options and multi-asset trading tools
API functionality for eligible users
Access to Australian and international exchanges
Trader Workstation and other trading interfaces
Advanced order types
Options and multi-asset trading tools
API functionality for eligible users
Trading fees: Brokerage commissions depend on the exchange, instrument and pricing structure. Market-data subscriptions, currency conversion and other fees may also apply.
Pros: Extensive market access, advanced order functionality and professional trading tools.
Cons: Complex interface, detailed account permissions and potentially separate data fees.
Best suited for: Experienced traders who want direct access to shares, options and other exchange-traded instruments.
6. eToro — Best for Social and Copy Trading
eToro is known for its social investing features and CopyTrader functionality, which allows eligible users to replicate selected traders' positions.
Its interface combines trading tools with social features that let users observe investment discussions and market activity.
However, the availability of copy trading, CFDs, underlying shares and other products depends on the relevant entity and account.
Key features
Social trading features
CopyTrader functionality where available
Web and mobile platforms
Market watchlists and portfolio monitoring
Access to different asset classes, subject to eligibility
Social trading features
CopyTrader functionality where available
Web and mobile platforms
Market watchlists and portfolio monitoring
Access to different asset classes, subject to eligibility
Trading fees: Spreads, applicable commissions, currency conversion charges, withdrawal fees and inactivity fees may vary by product and account.
Pros: Social trading features and an accessible interface.
Cons: Copy trading introduces additional risks, and costs may vary substantially across instruments.
Best suited for: Traders interested in social trading and following other market participants.
Copying another trader's positions does not guarantee similar returns. Performance can change, and losses can occur rapidly.
7. Plus500 — Best for Straightforward CFD Trading
Plus500 offers a proprietary CFD trading platform designed around a relatively straightforward interface.
The platform allows eligible users to monitor markets, view prices and manage CFD positions across supported asset classes.
Its approach may appeal to traders who prefer a self-contained platform rather than configuring multiple external software packages.
Key features
Proprietary web and mobile trading platform
Multiple CFD markets
Charting and position management tools
Risk management order functionality
Demo trading availability
Proprietary web and mobile trading platform
Multiple CFD markets
Charting and position management tools
Risk management order functionality
Demo trading availability
Trading fees: The CFD service generally uses spread-based pricing. Overnight funding, currency conversion, inactivity and other applicable charges should be checked against the current Australian fee schedule.
Pros: Straightforward interface and integrated trading tools.
Cons: Limited third-party platform integration compared with brokers supporting MT4, MT5 or cTrader.
Best suited for: Traders who prefer a proprietary CFD platform with fewer software configuration requirements.
8. Webull — Best for Active Australian and US Share Trading
Webull provides share trading services and trading tools designed for investors and active market participants.
Its desktop and mobile platforms offer charts, market information and order management features for eligible securities.
Webull may be more relevant to Australian traders who want to buy and sell actual shares rather than speculate through share CFDs.
Key features
Australian and US share market access
Desktop and mobile trading tools
Technical charts and watchlists
Order management functionality
Market-data features, subject to subscription and availability
Australian and US share market access
Desktop and mobile trading tools
Technical charts and watchlists
Order management functionality
Market-data features, subject to subscription and availability
Trading fees: Brokerage, foreign exchange conversion, market-data subscriptions and other applicable fees should be compared before trading.
Pros: Direct share market access and active trading functionality.
Cons: Currency conversion and market-data costs can matter for frequent international share traders.
Best suited for: Australian traders interested in active ASX and US share trading.
