Best broker for index CFDs in Australia
Verdict
- Pepperstone is our best broker for index CFDs in Australia: no commission, published averages such as AUS200 at 1.5 points and US500 at 0.4 points on Razor, and 26 index CFDs.
- Retail leverage is 1:20 on major indices and 1:10 on minor ones; Capital.com, our second choice, also lists 20:1 on major indices.
- Besides cash index CFDs, Pepperstone offers index forwards and 24/7 perpetual CFDs on NAS100 and US500.
- Pepperstone's index CFDs are issued by Pepperstone Group Limited under ASIC licence AFSL 414530.
Index CFDs are where published pricing is thinnest across the industry; many brokers show only 'from' spreads. Pepperstone publishes minimum and average spreads for each index, which makes its costs checkable. Here they are.
Pepperstone's index spreads, as published
Index CFDs at Pepperstone carry no commission on either account, so the spread is the trading cost. Razor is tighter on most contracts:
| Index | Razor min / avg | Standard min / avg |
|---|---|---|
| AUS200 | 1 / 1.5 | 1 / 1.5 |
| US500 | 0.4 / 0.4 | 0.5 / 0.5 |
| NAS100 | 1 / 1 | 1.2 / 1.2 |
| US30 | 2 / 2 | 2.3 / 2.3 |
| GER40 | 0.9 / 1 | 1.2 / 1.3 |
| UK100 | 1 / 1.5 | 1.4 / 1.9 |
| JPN225 | 7 / 7.4 | 9 / 9.4 |
| HK50 | 5 / 5 | 5 / 5 |
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What is the best platform for trading indices?
For index traders the platform choice turns on charting and order handling more than price, since Pepperstone's index cost is the same spread everywhere. TradingView suits chart-led traders (Razor only); MT5 adds a depth-of-market view and runs EAs; cTrader offers C# automation through cTrader Automate. Pepperstone's own app is the simplest way to watch the 24/7 index perpetuals at weekends. Capital.com offers its own platform, MT4, MT5 and TradingView.
Cash CFD, forward or perpetual?
- Cash index CFD: tightest spread (US500 0.4 points on Razor), with an overnight swap for each night held. Best for intraday and short swings.
- Index forward: wider minimum spreads (US500-F 1 point, AUS200-F 3) and a fixed expiry; check its terms if you plan to hold for weeks.
- Perpetual CFD: NAS100 and US500 only, trading 24/7 with 0.015% commission per side and a daily funding charge set weekly.
Leverage and margin on indices
Under its ASIC retail terms, Pepperstone allows 1:20 on major indices (5% margin) and 1:10 on minor ones (10%). A position worth A$20,000 on AUS200 therefore needs about A$1,000 of margin. Pro clients can reach 1:400 on major indices, but give up full negative balance protection in exchange for a one-time cover of up to USD 100,000.
Sources
How many index CFDs does Pepperstone offer?
Its Australian account table counts 26 (March 2025 data); the markets page says more than 20 major indices.
Can I trade the ASX 200 at Pepperstone?
Yes, as the AUS200 CFD: minimum spread 1 point and average 1.5 on both accounts, with no commission.
Does Pepperstone offer China or Europe indices?
Yes. Its Australian fee table lists CN50 at a 10.2-point average, FRA40 at 1.2 and EUSTX50 at 1.8.
Index CFDs are leveraged and can move sharply on news and at market opens, so you can lose money fast. Consider the PDS and TMD. Spreads quoted are Pepperstone's published figures for August 2026; this is not investment advice.