Can you compare the top brokers for gold and oil CFDs?
Verdict
- Yes: for UAE traders our ranking for gold and oil CFDs is Pepperstone first, Capital.com second and XS third, based on what each broker publishes.
- Pepperstone leads on published gold pricing (XAU/USD 0.12 average on Razor plus $3.50 per side, 0.19 on Standard) and on platform choice.
- Capital.com allows far higher leverage on gold and crude through its Dubai company (500:1) and offers swap-free accounts to UAE residents.
- XS offers automatic swap-free accounts to UAE residents but publishes no gold or oil spread in our data and has no AED account.
Gold and oil behave differently, so a good commodity broker has to handle both: tight pricing on gold, sensible leverage on fast-moving crude, and clear overnight costs on each. Here is how our top three compare for UAE residents, with FP Markets included as a reference point on gold pricing.
Our pick: Pepperstone for gold and oil together
Pepperstone is the only one of our three with a published gold spread in our data, and it offers both metals and energy across MT4, MT5, cTrader, TradingView and its own app. Retail leverage on its UAE site is 1:200 on gold and 1:20 on energy, a combination that gives room on gold while keeping oil exposure in check. Its UAE margin table also lists perpetual CFDs on gold, WTI and Brent; check your eligibility for those in the platform. Accounts can be held in AED.
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Gold and oil CFDs: the full comparison
| Pepperstone | Capital.com | XS | FP Markets | |
|---|---|---|---|---|
| Gold spread (avg) | 0.12 Razor + $3.50/side; 0.19 Standard | Not in our data | Not in our data | 0.12 Raw + $3/side; 0.25 Standard |
| Oil spread | Not in our data | Not in our data | Not in our data | Not in our data |
| Retail gold leverage | 1:200 | 500:1 | Not in our data | Not in our data |
| Retail oil leverage | 1:20 | 500:1 on crude | Not in our data | Not in our data |
| Swap-free for UAE | No | Yes | Yes, automatic | Yes, with an admin fee |
| UAE licence | DFSA (DIFC) F004356; CFDs issued under SCB licence | CMA 20200000176 | Consultation company, CMA 20200000339 | None in our data |
| Minimum deposit | $10 | $20 | $500 (Elite) | $100 |
Where each broker wins
- Pepperstone: published gold pricing, five platforms, AED funding through Mashreq Bank and Barclays, and lower leverage on oil.
- Capital.com: a UAE CMA licence, AED accounts, LEAN open-banking deposits and swap-free terms for UAE residents. Its high leverage cuts both ways.
- XS: swap-free terms applied automatically on MT4 and MT5, with XS saying it does not widen spreads or add fees instead.
- FP Markets: matches Pepperstone's 0.12 Razor gold average with $0.50 less commission per side, but needs $100 to start and holds no UAE licence in our data.
A worked cost example on gold
Take a 100-ounce gold position opened and closed once. On Pepperstone Razor the average spread costs $12, plus $3.50 commission per side for each lot. On Pepperstone Standard the average spread costs $19 and there is no commission. On FP Markets Raw the spread is the same $12, with $3 per side. Hold the trade for a week, though, and swap can matter more than any of these differences, which is why UAE traders who hold positions should weigh Capital.com's or XS's swap-free terms.
Sources
Spreads, leverage and swap-free terms as published.
Which broker is cheapest for gold CFDs in the UAE?
Among brokers in our data that accept UAE residents, Pepperstone Razor and FP Markets Raw publish the same 0.12 average; FP Markets charges slightly less commission. On commission-free accounts Pepperstone's 0.19 is the lowest published average.
Why does Capital.com offer much higher leverage than Pepperstone?
Each broker sets limits per entity. Capital.com's Dubai company publishes up to 500:1 on gold and crude; Pepperstone's UAE site caps retail clients at 1:200 on gold and 1:20 on energy.
Do any of these brokers publish oil spreads?
Not in our data. Check live WTI and Brent spreads in each platform during the hours you plan to trade.
CFDs are complex instruments and carry a high risk of losing money rapidly because of leverage. Only trade with money you can afford to lose and make sure you understand how CFDs work. This page is general information, not investment advice; check each broker's current terms on its own site before opening an account.