Comparison of online CFD brokers
From 123CFD
The below is a comparison of CFD brokers that are provided to the Australian market. While the fees may differ for CFD brokers in different countries, the structure is usually quite similar. And stay tuned for a global index for comparing Contract for Difference brokers and providers.
As per usual, please feel free to add content or edit any inconsistencies you deem necessary
- all dollar values in AUD
- OCR = official cash rate
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| BrokerOne | CFD Trading | City Index | CMC Markets | Commodoity Broking Services | CommSec | Cube Financial Group | E*Trade | First Prudent Markets | Get Financial | Halifax Online | i-deal | IG Markets | Macquarie Bank | Man Financial | Marketech | Pacific Trader | Sonray Capital Markets | Tricom | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CFDs offered | Yes | Yes | |||||||||||||||||
| Commission | 0.10% | 0.10% | 0.06-0.10% | 0.06-0.10% | 0.08-0.10% | 0.125% | 0.22' | 0.125-0.175% | 0.10% | 0.10% | 0.18% | 0.10% | 0.8-0.10% | 0.07-0.12% | 0.125% | $0 | 0.075-0.10% | 0.125-0.20% | 0.10% |
| Phone | 0.10% | 0.14% | 0.06-0.10% | 0.10% | 0.08-0.10% | 0.25% (Min $54.60) | 0.22% | 0.125-0.175% | 0.10% | 0.10% | 0.18% | 0.15% | 0.08-0.10% | Internet only | 0.175% | $25/0.10% | 0.075-0.10% | 0.125-0.20% | 0.10-0.50% |
| Minimum Commission | $10 | 17.50, lower if turnover > 500 K per month | 10% | $8 | $10 for trade size < $5000 | $25 for ASX | $0 | AUS $30 | |||||||||||
| Interest (Long) | OCR + 2% | OCR + 2% | OCR + 2% | OCR + 2% | OCR + 2% | OCR + 3% | OCR + 2% | OCR + 3% | OCR + 3% | OCR + 2% | OCR + 2.5% | OCR + 2% | OCR + 2.5% | OCR + 2.5% | OCR + 3% | OCR + 2% | OCR + 2.5% | OCR + 2.5% | OCR + 2-3% |
| Interest (Short) | OCR - 2% | OCR - 2% | OCR - 2% | OCR - 2% | OCR - 2% | OCR - 3% | OCR - 2% | OCR - 3% | OCR - 3% | OCR - 2% | OCR - 2.5% | OCR - 2% | OCR - 2.5% | OCR - 2.5% | OCR - 3% | OCR - 2% | OCR - 2.5% | OCR - 2.5% | OCR - 2-3% |
| Monthly Platform Fees | Free | Free | Free | Free | Free | $40.70 | Free | $79.90 | $55 | Free | Free | Free | Free | Free | $40.70 | Free | Free | Free | Free |
| Live Data Fees | From $55 | $38.50 | $38.59 free after 10 trades | $41.25 free after $50 of commission | $35 | $41.25 | Free | Free | Free | $38.50 | $45.00 | $38.50 | Free | $40.70 | $41.25 | Free | $37.50 | $38.50 | $38.50 |
| Min Opening Balance | $5000 | $5000 | $100 | $1000 | $5000 | $5000 | $10,000 | $5000 | $5000 | $5000 | $2000 | $5000 | Nil | $5000 | $5000 | $5000 | Nil | $3000 | $5000 |
| 'Guaranteed Stop Losses | No | Yes | Yes | Yes | No | No | Yes | No | No | No | No | No | Yes | Yes | No | No | No | No | No |
| # of long ASX CFDs | 318 | S&P ASX 500 | 588 | 492 | S&P ASX 500 | 509 | 2,600+ | 286 | |||||||||||
| # of short ASX CFDs | 202 | 300+ | ~340 | 196 | 370+ | ||||||||||||||
| Overseas CFDs | N/A | Shares in the FTSE 350 and other UK, S&P 500, NASDAQ 100 and other US. | N/A | Shares in the FTSE 350, DOW 30, S&P 500, NASDAQ | LSE, NASDAQ, NYSE | ||||||||||||||
| Spread | |||||||||||||||||||
| BrokerOne | CFD Trading | City Index | CMC Markets | Commodoity Broking Services | CommSec | Cube Financial Group | E*Trade | First Prudent Markets | Get Financial | Halifax Online | i-deal | IG Markets | Macquarie Bank | 'Man Financial | Marketech | Pacific Trader | Sonray Capital Markets | Tricom | |
| Margin for ASX CFDs | 3-10% | 5-80% | 3-90% | 5-75% | 5-45% | 5-80% | 5-100% | 10% | |||||||||||
| Margin for US CFDs | 5% | from 10% | |||||||||||||||||
| Margin for LSE CFDs | 5% | from 5% | |||||||||||||||||
| Margin for other Equities CFDs | 5% for European, 3% for commodity. 1% for index, sector, treasury | From 10% | 5% for indices | ||||||||||||||||
| Margin for FOREX Trading | 1% | ||||||||||||||||||
| Margin for index and sector | 1%, 2% | 5% for indices | |||||||||||||||||
| Stop Entry Orders | Yes | Yes | Yes | ||||||||||||||||
| Stop Loss Orders | Yes | Yes | Yes | Yes | |||||||||||||||
| Guaranteed Stop offered | Yes | Yes | |||||||||||||||||
| Guaranteed Stop: Minimum Distance | 5% away from CMC market for share CFDs, 1% away for indices | 5% | |||||||||||||||||
| Guaranteed Stop: Premium | 1-10 points for share CFDs, 2 points for AUSSIE200, NDAQ100, UK100 indices | 0.3% of trade size | |||||||||||||||||
| Guaranteed Stop: Cost of moving |
