Best broker for share CFDs in Australia
Verdict
- Pepperstone is our best broker for share CFDs in Australia: 1,162 share CFDs across the US, ASX, Hong Kong, the UK and Europe, ASX commission of 0.07% per side with no minimum, and US shares at $0.02 per share, under ASIC licence AFSL 414530.
- More than 100 US share CFDs also trade 24 hours a day, five days a week, using a '-24' symbol such as AAPL.US-24.
- Retail leverage on share CFDs is 1:5 at Pepperstone and at Capital.com, our second choice.
- If you want to own shares and receive franking credits, use a stockbroker; a CFD only tracks the price.
For share CFDs, three things separate providers: how many markets they cover, how commission is charged on each exchange, and whether they publish it clearly. Pepperstone does well on all three. Here are its rates, the alternatives, and where it falls short.
Why Pepperstone leads for share CFDs
Pepperstone's range covers 600+ US shares on the NYSE and NASDAQ, 200 ASX shares, 46 Hong Kong shares, 100+ London-listed names and a German and European range, adding up to 1,162 share CFDs in its account table. Commission is published per exchange with no minimum charge, which suits smaller trades. You can trade on MT5, cTrader and Pepperstone's own platform with either account, or on MT4 and TradingView with Razor, and fund in AUD by PayID from $10.
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Pepperstone's commission by exchange
Add the spread and, for positions held overnight, financing. Pepperstone's UK site lists Hong Kong at 0.15%, but its Australian fee page says 0.20%, so we use the higher figure.
| Market | Commission per side | Example, one side |
|---|---|---|
| Australia (ASX) | 0.07% | A$7 on a A$10,000 trade |
| United States | $0.02 per share | $2 on 100 shares |
| United Kingdom | 0.10% | £5 on a £5,000 trade |
| Germany | 0.10% | €5 on a €5,000 trade |
| Hong Kong | 0.20% | HK$20 on a HK$10,000 trade |
How the alternatives compare
Capital.com is our second choice, mainly for guaranteed stops on volatile single stocks. CMC Markets also runs a separate stockbroking business (AFSL 246381) if you want to own shares as well.
| Pepperstone | Capital.com | CMC Markets | Trading 212 | |
|---|---|---|---|---|
| Australian licence | AFSL 414530 | AFSL 513393 | AFSL 238054 | AFSL 541122 |
| Retail share leverage | 1:5 | 5:1 | ASIC retail cap | ASIC retail cap |
| Share CFD commission | Published per exchange | Not in our data | Not in our data | Commission-free, plus a 0.5% FX fee |
| Guaranteed stops | No | Yes | Yes on its UK site | None found |
| Minimum deposit | $10 | $20 | $0 | Not verified |
Single-stock perpetuals: check eligibility first
Pepperstone's Australian fee page also lists perpetual CFDs on AMD, NVDA, TSLA, GOOGL, MU, SNDK, MSTR and other names, trading 24/7 with 0.015% commission per side (0.03% on MSTR). Its Australian pages don't say whether retail clients can trade them, so treat them as unconfirmed until support says otherwise.
Sources
Commission, ranges and licences as published.
How many ASX shares does Pepperstone offer as CFDs?
Pepperstone says 200 ASX shares, alongside 600+ US and 46 Hong Kong shares.
Is there a minimum commission on share CFDs at Pepperstone?
No. Its Australian fee page lists no minimums, so a small trade pays only the percentage or per-share rate.
Can I own the shares through Pepperstone?
No. Pepperstone's Australian products are CFDs. To own shares, use a stockbroker.
Share CFDs are complex instruments that use leverage, and you can lose money quickly. You don't own the underlying shares. Read the PDS and TMD before trading; this comparison uses broker-published data and is not investment advice.