CFD Broker And CFD Provider Comparison: Australia

  CMC IG Markets Man Financial Sonray Marketech E-Trade Macquarie
CFDs offered AUS & global share, index, sector, treasury and commodity CFDs AUS & global share and index CFDs AUS & global share and index CFDs AUS & global share and index CFDs AUS & global share and index CFDs AUS share CFDs AUS share CFDs
# Long ASX CFDs 318 492 509 286 287 S&P ASX 500 S&P ASX 500
# Short ASX CFDs 202 Approx 340 196       247
Overseas share CFDs


Shares in the FTSE 350 and other UK, S&P 500, NASDAQ 100 and other US. Shares in the FTSE 350, DOW 30, S&P 500, NASDAQ LSE, NASDAQ, NYSE   N/A N/A
Underlying share price or spread widening Spread widening Underlying Underlying Underlying for DMA CFDs. Spread widening 0.05% for non-DMA CFDs Spread widening 0.1% Underlying Underlying
Commission (%) Share CFDs: 0.1%.
Indices, sector, treasury, commodity CFDs are commission free

AUS 0.1%, UK 0.15%, US 4c/share.
AUS 0.08% for active traders.
Indices are commission free

 0.175% for ASX AUS 0.2%, UK & US 0.35%. Different rate if with share education company nil 0.175%, lower if turnover > 500 K per month 0.2% for trade size > $5000, negotiable for active traders
Minimum commission ($) $10 (in currency share is in) AUS $1, UK £10-15, US $15 $25 for ASX AUS $30, UK £50, US $50 $10 for trade size < $10 000 17.50, lower if turnover > 500 K per month $10 for trade size < $5000
Interest long RBA + 2% for ASX RBOCR + 2.5% for ASX   LIBOR + 3% LIBOR + 1% RBAIOCR + 3% RBAIOCR + 2.5%
Interest short RBA - 2% for ASX RBOCR - 2.5% for ASX   LIBID - 2.5% LIBOR – 1% RBAIOCR - 3% RBAIOCR - 2.5%
Monthly fees $38.50 for ASX data, waived if commission in 1 month = or > $50 nil $50 per month, free for first 3 months if $5000 in account $38.50 for ASX data for DMA CFDs, nil for non-DMA CFDs   Free if 10 trades a month. If not, for each trade get $7.99 off the $79.90 monthly fee 2.35c per minute that the site is accessed, capped at $38.50/month
Margin requirement for ASX CFDs 3-10% From 5% (to 75%) From 5% (to 80%) 10% 10% From 5% (to 80%) From 5% (to 45%)
Margin requirement for other CFDs 5% for US, UK, European, 3% for commodity. 1% for index, sector, treasury

 

UK from 5%, US from 10%

 

 

 

 From 10% 5% for indices 5% for indices N/A N/A
Order types and times market or limit orders to enter positions are placed during market hours limit and stop orders can be placed out of market hours   DMA CFDs: market or limit orders are placed during market hours. Non-DMA CFDs: limit and stop orders can be placed anytime limit and stop orders can be placed anytime Orders can be placed anytime Orders can be placed anytime
Participate in market preopen or after market close no   yes
  yes  
Stop entry orders yes, except for ASX CFDs yes yes yes for non-DMA CFDs yes yes yes
Stop loss orders yes If place an order to "enter at open", can place a stop loss at a specified distance (points) away from opening price.

yes

 yes for non-DMA CFDs yes yes  
Stop loss execution market weighted average price (if inadequate liquidity at one price level) market weighted average price (if inadequate liquidity at one price level)   market weighted average price (if inadequate liquidity at one price level)      
Guaranteed stops offered yes yes, not available for all stocks   no no no  
Guaranteed stops: minimum distance 5% away from CMC market for share CFDs, 1% away for indices 5% away from current price   N/A N/A N/A  
Guaranteed stop: premiums 1-10 points for share CFDs, 2 points for AUSSIE200, NDAQ100, UK100 indices 0.3% of trade size   N/A N/A N/A  
Guaranteed stop: cost to move   nil   N/A N/A N/A  
Note 1 Margin rates for ASX are 3% for top 20 except NWSLV, 5% for midcap 200, 10% for lower cap Commission higher for phone orders for UK and US       Commission higher for phone orders  
Note 2   Stop loss placed at specified distance from open price can later be moved to a specific price.       Margin rates for ASX: 5% for top 10, 10% for top 100, 20% for top 200, 35% for top 300, beyond: 35-80%.  

Last Updated:

August 2006

Update Notes:

As of 6th June 2006, IG Markets have reduced their minimum commission from $25 to $1. Their percentage commission is 0.2%, or 0.08% if you're a high volume trader.

As of 1st August 2006, IG Markets have reduced their minimum % commission from 0.2% to 0.1% for AUS CFDs.

General Notes:

There may be administration fees, eg for funds transfer, with the providers.

Costs of trading, including spreads and commissions etc may be negotiable, or differ depending on type of client for some providers.

Legend:

N/A = Not applicable
RBA = Reserve Bank Australia
RBOCR = Reserve Bank Overnight Cash Rate
RBAIOCR = Reserve Bank of Australia Interbank Overnight Cash Rate
LIBOR = London Inter Bank Offered Rate
LIBID = London Inter Bank Bid Rate

If you have any suggestions or comments, please email webmaster@cfdbrokers.net

See also page 2 of CFD Brokers And CFD Providers Australia

For the UK, see this page on CFD brokers in UK.

For more on dealers, see this page on choosing CFD providers.

For more on CFD trading online, see this page on the advantages of CFD trading online.

Also, check this page on the transaction costs in CFD trading.