Best CFD Trading Apps in Australia 2024

Thadeus Geodfrey is an experienced and celebrated writer and self-taught trader specialising in cryptocurrencies and forex. Market analysis, identifying fraudulent brokers, and security are his cup of tea. At BrokerRaters Thadeus develops educational materials and user-guides, offer market insights, ensures our content conforms to the best standards. Join Thadeus to succeed in your trading endeavours.

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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 AustraliaLicense & RegulationSupport ServiceSoftwarePayment MethodDemo Account
PepperstoneASIC, DFSA, FCA, CySEC, CMAK, SCB, BaFin24/7TradingView, MT4, MT5, cTrader, Pepperstone Trading Platform, Social tradingPayPal, Visa, MasterCard, Bank TransfersYes
Plus500*

82% of retail investor accounts lose money when trading CFDs with this provider.

ASIC, FMA, FSCA, CySEC, FCA, MAS24/7Plus500 CFDVisa, MasterCard, PayPal, Skrill, Bank TransferYes
eToroASIC, FMA, FCA, CySEC, FSCA, SFSA ADGM, MFSA, FSAS, GFSC, SEC24/5eToro investing platform and app, Multi-asset platform, Social Trading, Copy Trader, Smart PortfoliosCredit/debit cards, Bank transfer, Klarna, PayPal, Skrill, NetellerYes
FP MarketsASIC, CySEC, FCA, FSCA 24/7MT4, MT5, cTrader, TradingView, WebTrader, Mobile Trading AppCredit/debit cards, Neteller, Skrill, Bank transfer, Google Pay, Apple Pay Yes
AvaTradeASIC, FMA, FCA, FSCA, CBI, CySEC, PFSA, B.V.I FSC, FSA, ADGM, ISA24/5WebTrader, AvaOptions, AvaTrade App, Mac Trading, MT4, MT5, Automated TradingCredit/debit cards, Neteller, Skrill, Wire transfer, WebMoneyYes

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 AustraliaMinimum Deposit RequirementCommission/ SpreadsDeposits/ WithdrawalsInactivity Fee
Pepperstone$0From 0.1 pipsFreeNone
Plus500*$100From 0%Free$10 monthly
eToro$50From 0%$5 Withdrawal$10 monthly
FP Markets$100From 0.0 pipsFree$0
AvaTrade$100From 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 AustraliaStocksForexCrypto-currenciesCommoditiesIndicesETFsOptions
PepperstoneYesYesYesYesYesNoNo
Plus500* (CFDs)YesYesYesYesYesYesNo
eToroYesYesYesYesYesYesNo
FP MarketsYesYesYesYesYesYesNo
AvaTradeYesYesYesYesYesYesYes

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

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2,817 User Reviews
google
4,480 User Reviews
apple
1 User Reviews
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Our Rating
Total Rating:
7,298 User Reviews
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.

At Pepperstone, we discovered over 1,200 CFD and spread betting assets. The securities are in different classes, including shares, commodities, forex, indices, ETFs, and cryptocurrencies. Unfortunately, some assets like options are missing.

As we previously mentioned, there are two types of trading accounts, namely Razor and Standard, with which you can explore these securities. We also noticed that Pepperstone supports leverage trading on its featured securities. Retail traders will enjoy limits up to 30:1, while professionals are eligible for limits up to 400:1. This allows you to manage larger trades with a small capital, thus maximizing your chances of earning huge profits.

That being said, let’s break down the number of asset offerings at Pepperstone.

Asset Class Number Offered
Forex 97+ currency pairs
Shares 1000+
Indices 23+
Commodities 40+
Cryptocurrencies 30+
ETFs 48+

Disclaimer: Spread betting and CFD trading have the application of leverage attached to them. Therefore, while the activity can magnify your returns, losses are inevitable. To avoid incurring massive losses with CFD trading, understand how it works plus all the risks involved. Plus, only risk funds you are comfortable losing, considering that over 76% of retail traders lose money in this activity.

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

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82% of retail investor accounts lose money when trading CFDs with this provider.
Read review
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14,120 User Reviews
google
102,000 User Reviews
apple
1,600 User Reviews
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Our Rating
Total Rating:
117,720 User Reviews
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

From our analysis, we discovered that the Plus500 trading platform lists over 2,800 assets. These assets are spread across various classes, including forex, shares, indices, commodities, cryptos, options, and ETFs. For most regions, Plus500 supports CFD trading across the featured assets. Real stock trading is available on the Plus500 Invest platform, while futures trading is only available for US citizens on the Plus500 Futures platform.

Let’s break down the number of Plus500 product selections.

Asset Class Number Offered
Forex 60+ currency pairs
Shares 1900+
Indices 29+ global stock indices
Commodities 24+
Cryptocurrencies 19+
ETFs 96+

Note that options trading at Plus500 is offered on a few stock CFDs and stock index CFDs. Thematic indices like the Cannabis Index are also available for traders.

Disclaimer: CFD trading is complex and highly risky, considering the application of leverage attached. We have witnessed over 76% of retail traders lose their money in CFD trading. It may not be a suitable activity for you. Therefore, ensure you understand how CFD trading works and the risks involved. 

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

Visit site
{etoroCFDrisk}% of retail investor accounts lose money when trading CFDs with this provider.
Read review
trustpilor logo
5 User Reviews
google
142,000 User Reviews
apple
31 User Reviews
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Our Rating
Total Rating:
142,036 User Reviews
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

We discovered that eToro allows users to trade and invest in global markets. You can go long or short in a single portfolio. Overall, there are more than 6,000 instruments, which are spread across multiple classes. Investment options are stocks, which allow you to buy and take ownership of global stocks across various sectors. Fractional share purchases are also supported at eToro. This will enable you to fill your portfolio with leading stocks from global exchanges. ETFs are also other investment assets at eToro.

When it comes to CFD trading, this broker offers it with flexible leverage limits for both new and professional traders. From our experience, retail traders get up to 1:30 leverage limit and professionals up to 1:400. With CFD assets, you can go long or short and speculate on both rising and falling asset prices.

That being said, here is the number of tradable assets available at eToro.

Asset Class Number Offered
Forex 55+ currency pairs
Shares 5558+
Indices 21+
Commodities 35+
Cryptocurrencies 100+
ETFs 680+

Note that eToro also supports options trading but is limited to US clients only. You can also explore diverse non-fungible tokens (NFTs) via its Delta platform.

Disclaimer: CFD trading is risky and complex, thus not suitable for all types of traders. This is primarily due to the application of leverage attached, which can give you good profits as well as leave you with massive losses. So far, over 76% lose their money in CFD trading. That is why it is important to conduct extensive research and understand CFD trading risks before you invest your money in it.

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

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7,164 User Reviews
google
0 User Reviews
apple
2 User Reviews
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Our Rating
Total Rating:
7,166 User Reviews
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

There are more than 10,000 CFD instruments at FP Markets across various asset classes. These include forex, shares, commodities, cryptos, and more. The best element about exploring these securities is that you have access to multiple platforms to choose from. Whether you prefer the MT4, MT5, cTrader, or TradingView, FP Markets has it all for you. You are guaranteed quality resources to maximize your potential.

When it comes to leverage applications, FP Markets has favorable limits for all types of traders. Retail traders can get up to 30:1, while professionals get 500:1. Moreover, we discovered multiple account types to suit every trader’s needs.

Here is a breakdown of the number of assets you will trade at FP Markets Standard, Raw, and Iress accounts.

Asset Class Number Offered
Forex 70+ currency pairs
Shares 10000+
Indices 19+
Commodities 12+
Cryptocurrencies 12+
ETFs 46+
Bonds 2+
Futures 7+

Disclaimer: CFD trading is risky, especially with the application of leverage attached. While many traders earn good profits from it, it can leave you with massive losses should a trade work out against you. Therefore, start by understanding CFD trading and all the risks involved before venturing into such securities. Remember, over 76% of retail traders lose money in CFD trading.

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

trustpilor logo
8,869 User Reviews
google
10,200 User Reviews
apple
25 User Reviews
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Our Rating
Total Rating:
19,094 User Reviews
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

The AvaTrade trading platform’s users have access to over 1,250 financial instruments, from forex pairs and indices to commodities, options, ETFs, and more. Below is an overview of some of this service provider’s product offerings:

  • Forex: As an AvaTrade user, you can trade diverse popular currency pairs, like EUR/USD, CAD/JPY, and USD/TRY. You can also boost potential returns with leverage of up to 400:1.
  • Commodities: From crude oil to silver, corn, and platinum, countless commodities are available on the Ava trading platform. They have competitive spreads and juicy leverages for individuals who want to access larger positions with small capital.
  • Cryptocurrencies: With an AvaTrade account, you can trade crypto CFDs like BTC/USD, Ripple, and Bitcoin Gold. These assets have reasonable spreads starting from 0.10% over-market.
  • Stocks: Over 90 stocks are accessible on the AvaTrade platform, including popular products like Groupon, Apple, and Microsoft. You can trade such instruments and enjoy reasonable spreads starting from 0.13%.
  • ETFs: If you want to trade ETFs, AvaTrade has you covered. You’ll find numerous outstanding assets, such as the MSCI EAFE Index Fund, S&P 500 VIX Short-Term Futures ETN-Series B, and Energy Select Sector SPDR.
  • Indices: After opening an AvaTrade account, you’ll get uncapped access to US500, UK100, CHINA A50. The broker also allows index traders to enhance potential returns with up to 100:1.
  • Options: AvaTrade’s AvaOptions trading platform allows users to trade options. It’s also equipped with 13 strategies, including call spread, put spread, and straddle.

CFD Trading in Australia

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:

  1. 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.  

  1. 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. 

  1. 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.

  1. 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.

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Thadeus Geodfrey

Thadeus Geodfrey is an experienced and celebrated writer and self-taught trader specialising in cryptocurrencies and forex. Market analysis, identifying fraudulent brokers, and security are his cup of tea. At BrokerRaters Thadeus develops educational materials and user-guides, offer market insights, ensures our content conforms to the best standards. Join Thadeus to succeed in your trading endeavours.

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