Which broker is best for trading US share CFDs from the UK?
Verdict
- Pepperstone is our pick for trading US share CFDs from the UK: more than 600 NYSE and Nasdaq stocks, a published commission of $0.02 per share per side, and a USD base-currency option, all under FCA regulation.
- Selected US shares also trade 24 hours a day, five days a week, through Pepperstone's '-24' symbols, so you can react to US earnings during the UK morning.
- Retail leverage on share CFDs is capped at 1:5: a $20,000 position needs $4,000 of margin.
- Prefer pounds per point and no commission? The same US shares are available as spread bets on Pepperstone's UK spread-betting account.
A UK trader buying US share CFDs pays three things: commission, the spread and any currency conversion. Pepperstone publishes the first clearly, lets you remove the third with a USD account, and covers more than 600 US stocks, which is why it is our pick. Here is the cost on a real-size trade and the choices that change it.
Pepperstone's US share offer for UK clients
Pepperstone Limited (FCA 684312) lists more than 600 US shares from the NYSE and Nasdaq within its 1,162 share CFDs. US shares and ETFs are charged $0.02 per share on each side of the trade, on both Standard and Razor accounts — Standard is commission-free on everything except shares. You can open the account in GBP, USD, EUR or CHF. Eligible clients' money is covered by the FSCS up to £85,000, and retail accounts have negative balance protection.
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A US share CFD trade, costed
Buying 100 shares of a $200 stock as a CFD on a USD account:
- Position value: $20,000.
- Commission: 100 × $0.02 = $2 to open and $2 to close, so $4 round trip.
- Margin at the 1:5 retail cap: $4,000.
- Holding overnight adds a financing charge; Pepperstone publishes overnight fees for positions held past 10 pm UK time.
- Tax: no stamp duty on CFDs, but gains are liable to capital gains tax and losses can be offset.
Trading US stocks before Wall Street opens
Pepperstone's UK markets page offers 24-hour trading on selected US shares, five days a week; its share pages describe more than 100 such CFDs carrying a '-24' suffix, for example AAPL.US-24. For a UK-based trader this is the practical difference: results released after the New York close can be traded during the London morning instead of waiting for Wall Street to open. Spreads outside regular US hours may differ, so check the quote before you size a trade.
CFD or spread bet for US shares
| CFD (Standard or Razor) | Spread bet | |
|---|---|---|
| Commission | $0.02 per share per side | None |
| Stake | Number of shares | GBP per point |
| UK tax per Pepperstone | CGT payable; losses offset | Exempt from CGT, depending on circumstances |
| Retail leverage | 1:5 | 1:5 |
| Platforms | Web/app, MT5, cTrader (plus MT4 and TradingView on Razor) | Web/app, MT4, MT5, TradingView, cTrader |
Capital.com and the other options
Capital Com (UK) Limited (FCA 793714) offers share CFDs and spread bets with the same 5:1 retail cap on shares, plus guaranteed stops, which Pepperstone lacks. It does not publish a per-share US commission in our data, so compare it on a live quote. Trading 212's CFD account is commission-free but its help centre lists a 0.5% FX fee — on a $20,000 trade funded in pounds, a cost to check carefully against Pepperstone's $4 round trip.
Sources
Published by the brokers on their own sites.
How much does Pepperstone charge on US share CFDs?
$0.02 per share on each side of the trade, on both Standard and Razor accounts. Spread bets on US shares carry no commission.
Can I trade US shares outside New York hours from the UK?
Yes, on selected stocks. Pepperstone offers 24-hour trading on certain US shares five days a week through symbols ending in '-24'.
Can I hold my Pepperstone account in dollars?
Yes. UK clients can choose GBP, USD, EUR or CHF as the base currency for spread betting, Standard and Razor accounts.
Spread bets and CFDs are leveraged and complex, and you can lose money quickly. 73.6% of retail investor accounts lose money when trading spread bets and CFDs with Pepperstone, according to its UK site. This page is general information, not investment advice; check each broker's current terms.