Best CFD brokers for trading US stocks
Verdict
- Pepperstone is our pick for trading US stocks as CFDs from Australia: more than 600 US share CFDs, $0.02 per share commission, over 100 names tradable 24/5, and perpetual CFDs on names such as NVDA, TSLA and SpaceX.
- Capital.com is second; it serves Australians under AFSL 513393 with the same 1:5 retail cap on shares and adds guaranteed stop-loss orders.
- Retail leverage on share CFDs in Australia is 1:5 at both, so a $5,000 position needs $1,000 of margin.
- Share CFDs give price exposure only: you never own the stock.
For US stocks, three things decide your cost and experience: the commission model, the hours you can trade, and how many US names are on the list. Pepperstone publishes all three, which is why it heads our list.
Pepperstone: per-share commission and long hours
Pepperstone Group Limited (AFSL 414530) charges $0.02 per share per side on US share CFDs and US ETF CFDs, with no minimum. Its list covers 600+ NYSE and NASDAQ shares, and more than 100 of them also trade 24 hours a day on weekdays under a '-24' suffix, such as AAPL.US-24. For a handful of names, including NVDA, TSLA, AMD, GOOGL and SpaceX, there are perpetual CFDs that trade 24/7. You can hold the account in USD to keep gains and losses in the stock's own currency.
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What a US share CFD trade costs
Example: 100 shares at an illustrative $150, a $15,000 position.
- Commission: 100 × $0.02 = $2 to open and $2 to close, $4 in total.
- Margin at the 1:5 retail cap: $3,000.
- Overnight: a swap is charged on positions held past the daily rollover.
- For contrast, the same $15,000 in an ASX share CFD at Pepperstone's 0.07% per side costs $10.50 each way, so per-share pricing favours larger US positions in higher-priced stocks.
How Capital.com compares
Capital.com, through Capital Com Australia Pty Ltd, offers share CFDs on its own platform, MT4, MT5 and TradingView, with the same ASIC cap of 5:1 on shares and a $20 minimum deposit. Our data has no published US share commission or US share count for it, so we can't put a cost figure beside Pepperstone's. Its help centre does describe guaranteed stop-loss orders, which matter around earnings, when a US stock can open far from the previous close.
Other ASIC-licensed names
IG (AFSL 515106), CMC Markets (AFSL 238054) and eToro (AFSL 491139) are also licensed in Australia. Our fact files hold no verified US share CFD pricing for them, so compare their commission and financing on their own sites against Pepperstone's $0.02 per share.
Checks before you trade US share CFDs
- Pick your base currency: USD, AUD and four others are available at Pepperstone.
- Know your hours: standard share CFDs follow US market hours, the '-24' versions run 24/5 and perpetuals 24/7.
- Budget for overnight financing if you hold for weeks.
- Plan for earnings gaps: Pepperstone offers no guaranteed stop-loss.
Sources
As published by each broker.
Can I trade Nvidia around the clock?
At Pepperstone, NVDA is available as a perpetual CFD that trades 24/7; check with Pepperstone that your Australian account may trade perpetuals.
Is the $0.02 commission charged on both sides?
Yes, per side, with no minimum.
Can I use more than 1:5 leverage on US shares?
Not as an Australian retail client. Pepperstone's Pro limit on shares is 1:20.
Margin trading in CFDs is complex and can lose you money fast. Weigh the risk against your circumstances before you start. This page does not give investment advice, and the published terms of Pepperstone and other brokers may change after our update.