What leverage can I use on crypto CFDs in Australia?
Verdict
- Australian retail traders can use up to 1:2 leverage on crypto CFDs, meaning 50% margin. At Pepperstone, our recommended broker, that applies to Bitcoin, Ether and every other coin.
- Capital.com, our second choice, publishes the same 2:1 limit for its Australian company.
- Professional (wholesale) clients at Pepperstone can reach 1:10 on BTC/USD and ETH/USD in its leverage table, but other coins stay at 1:2; another Pepperstone page shows a higher pro-only tier, so confirm before relying on it.
- A A$4,000 Bitcoin CFD position needs A$2,000 of margin at retail leverage.
Crypto has the lowest leverage of any CFD class in Australia, and for good reason: a 1:2 position can lose half its margin on a 25% move, which crypto can make in days. Here are the limits, the margin maths and the professional-client exception.
The retail limit at Pepperstone: 1:2 on every coin
Pepperstone Group Limited (ASIC, AFSL 414530) lists 1:2 for BTC/USD, ETH/USD and all other crypto CFDs on its Australian leverage table. Retail clients also get negative balance protection, so a crash cannot leave you owing more than your deposit. With no commission on crypto CFDs and published spreads (BTC/USD averages 15.15 on Razor), it is our pick for crypto CFDs in Australia.
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What margin is required for crypto CFDs in Australia?
At 1:2, margin is half the position value. Worked examples at retail leverage:
- The loss on a move is the same as for an unleveraged holding of that size; leverage only lowers the cash you put up.
- If losses eat into your margin, your positions can be closed out before your stop is reached.
| Position value | Margin required | Loss on a 10% adverse move |
|---|---|---|
| A$1,000 | A$500 | A$100 |
| A$4,000 | A$2,000 | A$400 |
| A$10,000 | A$5,000 | A$1,000 |
Retail vs professional crypto leverage
Pepperstone's crypto spreads page also shows a pro-only 'dynamic leverage' tier of 400:1 on the first $50,000, which conflicts with its own leverage table. Treat 1:10 as the reliable figure and ask Pepperstone which applies to your account. Pro status needs the sophisticated-investor or wealth tests and limits negative balance protection to a one-time USD 100,000.
| Client type | Pepperstone BTC/ETH | Pepperstone other coins | Capital.com |
|---|---|---|---|
| Retail | 1:2 | 1:2 | 2:1 |
| Professional (wholesale) | 1:10 in the leverage table | 1:2 | Not in our data |
Why offshore leverage is not an option
Pepperstone's Bahamas company offers 1:20 on BTC/USD to its own retail clients, but its terms state its products are not intended for residents of Australia. Australians are served by the ASIC company and its 1:2 limit. Treat any offer of high crypto leverage to an Australian retail client as a red flag about who the counterparty really is.
Sources
Is 1:2 crypto leverage the same at every Australian broker?
Pepperstone and Capital.com both publish 1:2 for retail clients in Australia. Check any other broker's figure for the Australian company you would join.
Can I use lower leverage than 1:2?
Yes. Depositing more than the margin requirement, or trading smaller, lowers your effective leverage.
Does negative balance protection apply to crypto CFDs?
For Pepperstone retail clients in Australia, yes: it restores a negative account to zero.
Even at 1:2, crypto CFDs can lose money very quickly because crypto prices are highly volatile. Consider the PDS and TMD before trading. Leverage figures are as published by each broker; this is not personal advice.