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The best CFD trading app in Australia might be all you need to be financially stable. But this complex venture comes with real risks that can put you many miles back. And finding a genuine person to hold your hand isn’t a walk in the park.
Worry not – our experts rigorously researched all the apps in the industry and selected the best for your specific needs. We also ensured they were regulated and authorized to operate in the country and beyond.
List of the Best CFD Trading Apps
- Pepperstone – Best Overall CFD Trading App in Australia
- Plus500* – Best CFD Trading App in Australia for User-friendliness
- eToro – Best CFD Trading App for Copy Trading
- FP Markets – Best CFD Trading App for Competitive Pricing
- AvaTrade – Best CFD Trading App for Strong Regulations
Note: 82% of retail investor accounts lose money when trading CFDs with this provider.
In This Guide
Australian CFD Trading Apps: Comparison Table
CFD trading is a profitable but risky venture. Apps with enticing words are all over the internet, and researching this form of business is harrowing homework. Instead of downloading any app and trying to be the next money guy in your city, we highly recommend you get expert advice.
You are in the right place. Our gurus have thoroughly researched hundreds of CFD trading apps in Australia to bring you only the creme de la creme. We subjected all providers to a tight race to the top five positions, considering crucial factors like regulations, fees, customer support, user-friendliness, and tradable instruments. We then compared the chosen apps to identify the best overall and unique areas in which they shine.
Our reviews are always honest since we don’t take the providers at their word. We usually conduct months-long tests on the platforms for first-hand experience. Furthermore, we visit reputable review sites to discover what real users say. Some include the App Store, Google Play, and Trustpilot.
Let’s compare the best CFD trading apps in Australia.
| Best CFD Trading App Australia | License & Regulation | Support Service | Software | Payment Method | Demo Account |
|---|---|---|---|---|---|
| Pepperstone | ASIC, DFSA, FCA, CySEC, CMAK, SCB, BaFin | 24/7 | TradingView, MT4, MT5, cTrader, Pepperstone Trading Platform, Social trading | PayPal, Visa, MasterCard, Bank Transfers | Yes |
| Plus500* 82% of retail investor accounts lose money when trading CFDs with this provider. | ASIC, FMA, FSCA, CySEC, FCA, MAS | 24/7 | Plus500 CFD | Visa, MasterCard, PayPal, Skrill, Bank Transfer | Yes |
| eToro | ASIC, FMA, FCA, CySEC, FSCA, SFSA ADGM, MFSA, FSAS, GFSC, SEC | 24/5 | eToro investing platform and app, Multi-asset platform, Social Trading, Copy Trader, Smart Portfolios | Credit/debit cards, Bank transfer, Klarna, PayPal, Skrill, Neteller | Yes |
| FP Markets | ASIC, CySEC, FCA, FSCA | 24/7 | MT4, MT5, cTrader, TradingView, WebTrader, Mobile Trading App | Credit/debit cards, Neteller, Skrill, Bank transfer, Google Pay, Apple Pay | Yes |
| AvaTrade | ASIC, FMA, FCA, FSCA, CBI, CySEC, PFSA, B.V.I FSC, FSA, ADGM, ISA | 24/5 | WebTrader, AvaOptions, AvaTrade App, Mac Trading, MT4, MT5, Automated Trading | Credit/debit cards, Neteller, Skrill, Wire transfer, WebMoney | Yes |
Apps Short Overview
Fees and assets are unavoidable considerations for any serious trader looking to make it on CFD trading apps. We invite you to review the following tables to see if the apps’ charges and instruments align with your goals and pockets.
Fees
| Best CFD Trading App Australia | Minimum Deposit Requirement | Commission/ Spreads | Deposits/ Withdrawals | Inactivity Fee |
|---|---|---|---|---|
| Pepperstone | $0 | From 0.1 pips | Free | None |
| Plus500* | $100 | From 0% | Free | $10 monthly |
| eToro | $50 | From 0% | $5 Withdrawal | $10 monthly |
| FP Markets | $100 | From 0.0 pips | Free | $0 |
| AvaTrade | $100 | From 0.9 pips | Free | $50 after every 3 months of inactivity |
Note: 82% of retail investor accounts lose money when trading CFDs with this provider.
Assets
| Best CFD Trading App Australia | Stocks | Forex | Crypto-currencies | Commodities | Indices | ETFs | Options |
|---|---|---|---|---|---|---|---|
| Pepperstone | Yes | Yes | Yes | Yes | Yes | No | No |
| Plus500* (CFDs) | Yes | Yes | Yes | Yes | Yes | Yes | No |
| eToro | Yes | Yes | Yes | Yes | Yes | Yes | No |
| FP Markets | Yes | Yes | Yes | Yes | Yes | Yes | No |
| AvaTrade | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Note: 82% of retail investor accounts lose money when trading CFDs with this provider.
Our Expert Opinion about CFD Trading Apps in AU
CFD trading apps use sweet words that can easily deceive a newbie or seasoned trader. It takes a trained and emotionally disengaged eye to separate the chaff from the wheat.
Our experienced experts offer their opinions on each of the five apps, including their pros and cons. This discussion will help you settle any doubt and make a clear decision.
1. Pepperstone – Best Overall CFD Trading App in Australia
Pepperstone is a favorite of most CFD traders due to its low spreads and fast execution. We realized that it recently rolled out its own trading app! With this feature, you can access global markets and trade on the go.
The app’s Quick Switch allowed us to hop from one chart to another without a headache. We could also buy and sell on live streaming prices, and searching for an asset was a breeze. Every live trading account has a demo to help you hone your trading prowess. You also access popular platforms like MT4, MT5, cTrader, and TradingView. It has diverse educational resources to help you trade like a pro.
With Pepperstone, your funds, personal details, and efforts are on safe hands. It’s an ASIC-regulated app under license number 414530. It also has licenses from reputable international regulators, such as DFSA, CySEC, BaFin, and FSA.
The Pepperstone app offers one of the most competitive fee structures in the industry for you to focus on trading and not paying fees. They have competitive spreads starting from as low as 0 in the Razor account and 1 in the Standard account. We noticed that they only charge commissions on Forex when using Razor accounts. Furthermore, the app doesn’t have non-trading fees like inactivity, withdrawal, and deposit charges.
Pepperstone is a wealth store of tradable instruments. It offers 1,200+ assets as CFDs, including forex, indices, ETFs, shares, currency indexes, and shares. Thus, you’ll most likely find a familiar financial vehicle to take you to your dreams.
Meet Pepper, Pepperstone’s chatbot. During our customer support tests, this live chat replied after 3 minutes. You can also contact the agents via a phone number, which is available 24/5. Furthermore, the app has email support if a longer wait isn’t a big deal. We loved their relevant and concise answers to our email.
Pepperstone
✔24/7 support service
✔User-friendly and navigable platform
Pros & Cons
Fees
Trading Assets
Pros
- No non-trading fees
- Supports popular platforms
- Excellent customer support
- Safeguard for negative balance
- Low spreads
Cons
- High commission on opened position
- High swap rates
We find Pepperstone broker to be one of the brokers with transparent fee structures. There are no hidden charges, so what you see displayed on its platform is what you will incur. This makes it easier for you to budget without worrying about overspending.
Let’s discover below some of the trading and non-trading charges at Pepperstone.
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Management Fee | $0 |
| Minimum Deposit Requirement | From $0, depending on your jurisdiction |
| Commission | From $0.02 on US-listed shares |
| Spreads | From 0.0 pips on its Razor Account |
| Deposits and Withdrawals | Free |
| Inactivity | None |
| Overnight Funding | Varies based on global market conditions |
| Copy Trading | Free |
Note that Pepperstone charges both spreads and commissions. While spreads are charged on all accounts, commissions are only imposed on the Razor Account.
2. Plus500 – Best CFD Trading App in Australia for User-friendliness
Plus500 CFD trading app takes home the trophy for an intuitive and user-friendly interface. Its Insights feature won our hearts for advanced copy trading. This feature brings millions of data points to your hand for informed decisions. And the app’s alerts and notifications ensure you’re on top of this fast-moving market.
Regarding regulations, licensing, and security, Plus500 didn’t disappoint. ASIC regulates the provider under the name Plus500AU Pty Ltd. It also has licenses from CySEC, FCA, FMA, FSP, and other reputable financial regulators. Furthermore, it comes with risk management tools to help you set stop-loss and avoid loss.
Are you a newbie in CFD trading? You can spend time in Plus500’s comprehensive education area. The Trading Academy guides you around the platform and gives you ‘how-to’ learning materials. Never skip a bit with the app’s news and market insights. And the Insights feature helps you analyze other traders’ activities as they happen. Don’t forget to follow the economic calendar for deeper forecasts. You can also opt into a demo account during registration to exercise what you learned.
We also found Plus500’s fee structure transparent. The $100 minimum deposit requirement, tight spreads, and free withdrawals and deposits help smash the barrier to entry into the world of CFD trading. While inactivity attracts a fee, staying active for a few days per month keeps the charge at bay.
You can choose from over 2800 tradable assets on the Plus500 app. The diverse minor, major, and exotic currency pairs safeguard you from market shifts. You can also own digital assets using popular cryptocurrencies like Bitcoin. Commodities include agricultural products and energy resources for those who desire to ride global supply and demand waves. ETFs, indices, stocks, and bonds are other instruments.
Plus500 also excels in customer support. During business hours, you can get help via live chat or email. The FAQ section also provides written answers to your queries. This valuable feature helped us solve one of our concerns without the need to talk to a live agent.
Note: 82% of retail investor accounts lose money when trading CFDs with this provider.
Plus500
✔Easy-to-use trading platform
✔No hidden charges
Pros & Cons
Fees
Trading Assets
Pros
- Diverse CFD assets
- +2800 instruments
- Competitive spreads
- Commission-free trades
- Unlimited demo account
Cons
- High inactivity fee
- Doesn’t support MT4, MT5, and other popular platforms
Many traders prioritize brokers they can afford. Since fees vary with a broker, we decided to go through Plus500’s fee structure. Here are some of the trading and non-trading charges to expect when you commit to this broker.
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Minimum Deposit Requirement | $100 |
| Commission | $0 |
| Spreads | From 0.0 pips on major currency pairs |
| Deposits and Withdrawals | $0 |
| Inactivity | $10 monthly |
| Currency Conversion | Up to 0.7% |
| Overnight Funding | Varies based on trade size |
3. eToro – Best CFD Trading App for Copy Trading
eToro is your go-to for social and copy trading. We found a news feed where you can discuss tactics and events with fellow traders. Are you still a newcomer in the world of CFD trading? You can copy an experienced person’s strategies using the CopyTrader. And if you become a seasoned trader with a tribe of copy-traders, the app gives you up to 1.5% of the assets under copy.
Since its inception, eToro has been concerned about your security. It’s authorized by ASIC to offer traders a profit-making CFD platform throughout Australia. Furthermore, the app went the extra mile to acquire licenses from global bodies like CySEC and FCA.
Transparency is another boon—no hidden fees in the app. While we discovered a withdrawal fee of $5, it’s understandable because money transfers come with their expenses. You can escape the inactivity fee by logging in at least several times a year. The stock commission fee is only $2 in Australia, and the platform doesn’t charge spread, overnight, custody, or copy trading fees.
The eToro CFD trading app is home to over 6,000 assets. Diversify your game by choosing preferred instruments among the over 3000 stocks,19 global indices, 264 ETFs, 49 currencies, and more. Want to save your time and start trading right away? The ready-to-use “Smart Portfolio” is available for you.
The app has also invested in robust educational material. Be a student at eToro Academy to grasp investment jargon, analyze the markets, and understand the available assets. Grab the practice account with a $100,000 virtual fund to exercise what you learned before taking the plunge.
The app is also good at customer support. Browse the broker’s knowledge base or FAQ section by category to satisfy any query. You can also open a new ticket if your issue needs attention from a live agent.
eToro
✔ User-friendly trading platform
✔ Over 6000 trading instruments
Pros & Cons
Fees
Trading Assets
Pros
- Diverse CFDs
- Ready-to-trade demo account
- Copy-trading tool to learn and earn
- Community-focused social features
- Low commissions
Cons
- High withdrawal and inactivity fees
- Limited technical analysis features
eToro has a transparent fee structure that is easy to understand and helps you plan accordingly. From our analysis, we discovered the following trading and non-trading eToro fees.
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Management Fee | $0 |
| From $50, depending on your jurisdiction | 0.6 |
| Commission | From 0% on stocks and ETF trading |
| Spreads | From 1 pip on major currency pairs |
| Deposits and Withdrawals | $5 withdrawal |
| Inactivity | $10 monthly |
| Currency Conversion | 1.5% or 3.0%, depending on the currency or payment method |
| Overnight Funding | Varies based on global market conditions |
| Copy Trading | Free |
4. FP Markets – Best CFD Trading App for Advanced Traders
Are you an advanced trader looking to expand your territory in the CFD trading world? Our expert recommends the FP Markets app. Both iOS and Android versions have an intuitive design that allows you to seamlessly do more on your device, including depositing and withdrawing money, setting up and tracking trades, and viewing real-time pricing.
FP Markets supports your favorite trading platforms, including MT4, MT5, cTrader, and IRESS. These third parties have almost all the desktop-based versions, including order types, trade analysis, and symbol watchlists. We were particularly impressed by TradingView’s Pine Script, which allowed us to tailor custom indicators and strategies.
FP Markets prioritizes education to help you climb the CFD trading mountains. Its Academy is a library of eBooks, video tutorials, webinars, glossaries, and podcasts. The app also brings you the latest market analysis resources, including Market Insights, Forex News, and Daily Report. After absorbing the materials, you can drive-test the app using 100,000 virtual funds in its demo account.
Trust FP Markets to keep your money safe. Its regulators and licensors include top-notch bodies like ASIC, CySEC, and Kenya’s Capital Markets Authority. This provider’s numerous awards further confirm its dedication to lawful practices.
The app also gives you access to diverse instruments. Choose from 10,000+ stock CFDs, 70+ currency pairs, 11+ cryptocurrencies, and 14+ indices. Most of these instruments reside on the IRESS platform.
Once you deposit a minimum of 100 USD in the Raw Metatrader account, you’re good to go. This package has tighter spreads starting from 0 pips and 6 AUD commission per lot. Want to scale up things? Sign up for a commission-free Standard account with a minimum deposit of 1000 AUD.
FP Markets has award-winning, multilingual customer support. Whenever you need help, email, phone, and live chat are available around the clock. In our experience, the support team answered our queries in detail without too much back-and-forth or repeated contact.
FP Markets
✔Low minimum deposit requirement
✔Hosts numerous learning and market analysis tools
Pros & Cons
Fees
Trading Assets
Pros
- Supports popular platforms like MT4 and MT5
- Competitive spreads
- Advanced educational materials
- High liquidity
- Responsive customer support
Cons
- It can be complex for newbies
- Limited proprietary platform features
We reviewed the applicable FP Markets fees, and like that the broker has a transparent structure. This allows users to efficiently plan for their activities without worrying about incurring additional costs. There are no hidden charges and no price manipulation with this broker.
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Management Fee | $0 |
| Minimum Deposit Requirement | From $50, depending on your jurisdiction |
| Commission | From 0% |
| Spreads | From 0.0 pips on major currency pairs |
| Deposits and Withdrawals | Free deposits. Withdrawal fees apply based on the payment method used |
| Inactivity | $0 |
| Overnight Funding | Varies based on global market conditions |
| Copy Trading | Free |
5. AvaTrade – Best CFD Trading App for Beginners
In the unforgiving world of CFD trading, beginners find a haven in AvaTradeGo, the official name of AvaTrade’s proprietary app. You can switch from your desktop to an Android or iOS phone without seeing any change in functionality.
The most notable feature is DupliTrade. Use it to follow in the footsteps of experienced traders and boost your profiteering game. And the Zoom In lets you access the platform’s easy-to-use charting software to make informed trading. Why not try automatic trading and sit back as the platform does the heavy lifting for you?
AvaTrade is also a place for enthusiastic learners, as evidenced by its in-depth educational resources. Grab the free Forex First Steps eBook for basic trading ideas. Steal practical strategies in its live webinars and use the handy Trading Position Calculator to move up the scale. We loved how the app provides analysis ideas in video and written formats. These and many other resources are user-focused, ensuring your needs are met regardless of your prowess.
Access to famous platforms like MT4 will help you soar higher. This feature’s popularity means it will open up a community of traders to enrich your trading journey. You can also use the easy-to-navigate AvaOptions and employ diverse features like charts and indicators.
Have you encountered a stubborn snag? The FAQ section might have what you need to solve the issue. Otherwise, reach out to the 24-hour multilingual customer support team via live chat, phone, WhatsApp, or email. One of our experts was surprised by the quick response to a test inquiry he sent them via WhatsApp.
We assure you that the AvaTrade fee structure will not dent your pocket. The spreads are competitive, starting from 0.9 pips. We tested with a $2,000 S&P 500 index CFD trade and realized the commission was just $3.9. Also, you won’t pay account, deposit, or withdrawal charges.
AvaTrade gives you over 250 instruments, including 60+ currency pairs, commodities, and cryptocurrencies. While these numbers don’t look impressive, the last thing you want as a newbie is to get overwhelmed by thousands of options.
AvaTrade
✔Regulated by FCA
✔The platform supports algorithmic trading
Pros & Cons
Fees
Trading Assets
Pros
- Risk management features
- In-depth educational resources
- Access to popular trading platforms
- Competitive spreads
- Responsive customer support
Cons
- High overnight, inactivity, and admin fees
- Limited instruments
Our experts investigated the AvaTrade broker’s fees and charges. We first noticed that the platform has a modest minimum deposit requirement of $100. What’s more, its users pay no additional costs while depositing funds or cashing out. That makes AvaTrade an ideal broker for both cost-conscious and newbie traders who want to test their waters with small capital before going all in.
That said, AvaTrade requires dormant account holders to pay $50 after every 3 consecutive months of inactivity. Moreover, if you let your account remain inactive for over successive months of inactivity, the broker will charge you a $100 administration fee. Not to forget, AvaTrade requires traders who hold positions overnight to cover a premium.
Here’s a breakdown of the fees you should expect to encounter while trading with this service provider:
| Fees and Charges | Amount |
|---|---|
| Spreads | From 0.9 pips |
| Administration fee | $100 |
| Inactivity fee | $50 |
| Overnight premium | Yes |
CFD Trading in Australia
Australia is booming with CFD trading opportunities, thanks to reputable apps, strict regulations, and a thriving economy. The country’s financial market regulatory body, ASIC, oversees this industry to ensure all brokers and players adhere to set regulations.
Trading in CFD is legal so long as the broker is licensed to do so in Australia. But you must be 18 years old or older to participate in it. For minors, they can be traders under an account opened and managed by their parents.
Earnings and losses from your CFD trading in Australia are generally viewed as income and deductible expenses, respectively. Therefore, remember to declare the profits as part of your taxable income and use any loss as a deduction against future income.
What is a CFD Trading App?
A CFD trading app is a desktop or mobile application where you can trade Contracts for Difference (CFD) assets. It allows you to speculate on the price changes of diverse instruments without owning the underlying assets.
Reputable CFD trading apps usually have an intuitive interface and easy access to multiple markets, such as indices, forex, and commodities. Other notable tools include real-time insights, risk management tools, demo accounts, and educational resources.
How to Choose the Best CFD Trading App in AU
CFD trading comes with serious risks. Thus, you need to pinpoint an app that will boost your chances of earning while helping you stay clear of pitfalls. Here are just some of the pointers that our experts advise you to consider:
Regulation and Security
Fees
User-friendly
Range of Instruments
Customer Support
Demo Account and Educational Materials
Flee from a broker that isn’t ASIC-regulated to save your money. Also, check if the broker has implemented water-tight security measures like 2FA and data encryption.
Consider trading fees like spread fees, swap charges, and commissions to ensure they’re reasonable. Non-trading charges, including overnight, inactivity, deposit, and withdrawal fees, are crucial considerations, too.
An intuitive and easy-to-navigate interface is non-negotiable. The app should provide a clutter-free experience without sacrificing crucial features found on the desktop platform.
Go for an app offering diverse CFDs across different asset classes. Remember to check if you can access your preferred markets, too.
Issues are bound to happen. Ensure the broker has a robust support crew to help you arrest a problem before it escalates.
An app with comprehensive learning materials cares for your education. A greater plus is when it has a demo account to help you simulate what you’ve learned before committing your real dollars.
CFD Trading Risks for AU Traders
Risks are an unavoidable part of CFD trading and apps. So, before jumping into this adventurous financial world, you need to understand common risk factors:
- Market risk
The highly volatile nature of CFD markets can spark sudden price changes. You can suffer from serious losses if the market shifts against you. Price gaps, too, are a huge issue since the system can fail to execute a stop-loss order at the desired price when the figure bypasses intermediate levels.
- Leverage risk
While leverage helps control a significant position using little capital, it can also magnify losses. Even a small adverse market movement can drown your investment.
- Liquidity risk
Some CFDs may need higher liquidity and more market access. This situation often locks traders in a position and causes adverse effects, such as wider spreads and spillages. Execution delays are also common in volatile markets.
- Counterparty risk
CFD trading involves contracts between the broker and the trader. The broker may not fulfil their obligation in case of platform insolvency. Furthermore, any unfavourable change in CFD trading regulations can be a huge blow to your investment.
Pros & Cons of Trading with CFD Trading App
From our article, you can glean the crucial pros and cons of the CFD trading app:
Pros:
- Easy access to global markets and real-time data
- Low-entry barrier
- 24/7 access from anywhere
- Fast and easy execution of trade
- Advanced features and tools
Cons:
- CFD trading risks, including sudden market fluctuations
- Cyber insecurities and unscrupulous brokers
- Unreliable platforms or internet cut-off
- A mobile app may lack a crucial feature
Conclusion
The first step to success is finding the best CFD trading app Australia. However, this homework is often time-consuming, tiresome, and unsuccessful. But as you’ve seen in this article, our team of experienced CFD trading gurus saved you that headache. You can now weigh CFD pros against cons, choose the best app, and evade a risk before it swoops in.