What are the spreads on ETF CFDs at UK brokers?
Verdict
- Pepperstone, our pick for ETF CFDs in the UK, does not publish a typical ETF spread; it publishes the commission ($0.02 per share each way on US ETF CFDs) and you trade at the live quote in the platform.
- None of the other UK brokers in our data publishes an ETF CFD spread table either, so compare commission, the live spread when you trade and the overnight fee.
- Retail margin on ETF CFDs is 20% at CMC Markets, and Pepperstone's UK retail table sets shares at 1:5; Pepperstone's Pro table groups stocks and ETFs at 1:20.
- Pepperstone lists 80+ ETFs on its UK markets page, and its account table counts 95 ETF CFDs.
Looking for an ETF spread table usually ends in frustration, because UK brokers price ETF CFDs differently from forex: the quote follows the fund's own market and the broker's charge sits in a commission. Here is what Pepperstone and other UK brokers actually publish, a worked cost on a US ETF, and what to check on screen before you trade.
The short answer: commission is published, the spread is live
At Pepperstone, the published cost of a US-listed ETF CFD is $0.02 per share on each side, the same rate as US share CFDs. The spread is whatever the platform quotes when you trade; Pepperstone prints no ETF average on the pages we checked. It is still our first choice for UK ETF traders: the range is broad, the per-share commission is easy to work out in advance, and the same account runs on MT5, cTrader and Pepperstone's own platform, with MT4 and TradingView added on Razor.
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Worked example: 300 shares of a US ETF CFD
Take a US ETF priced around $50, so 300 shares is a $15,000 position. Commission uses Pepperstone's published rate; the spread line is an illustration only, because it is set by the market at the moment you trade.
| Cost item | Calculation | Amount |
|---|---|---|
| Commission to open | 300 × $0.02 | $6 |
| Commission to close | 300 × $0.02 | $6 |
| Spread, if quoted 2 cents wide | 300 × $0.02 | $6 |
| Round turn | $18, before any overnight fee |
What UK brokers publish about ETF CFD costs
Capital.com is our second choice in the UK overall, but we could not confirm its ETF range or ETF pricing from its own pages, so check its platform before picking it for funds. The rest of the picture:
| Broker | ETF CFDs | Published cost |
|---|---|---|
| Pepperstone (FCA 684312) | 80+ on the markets page; 95 in the account table | $0.02 per share per side on US ETFs; spread live |
| Capital.com (FCA 793714) | Not confirmed in our data | Not in our data |
| CMC Markets (FCA 173730) | Yes, margin quoted for shares and ETFs | Margin from 20%; spread not in our data |
| Trading 212 (FCA 609146) | CFD account offered; ETF range not confirmed | Commission-free, dynamic spreads, 0.5% FX fee |
Checks to make on screen before you trade
Since no headline spread is published, your own observation is the only reliable figure. Spend two minutes on these:
- Open the symbol during the fund's home exchange session and note the bid and ask; that is when the underlying fund is actually trading.
- Read the contract specification for the commission, minimum trade size and overnight fee.
- Pick the account currency deliberately: Pepperstone's UK base currencies are GBP, USD, EUR and CHF, and a dollar-priced fund in a GBP account means converted profits and costs.
- Where the fund is available as a spread bet, compare it: Pepperstone charges no commission on spread bets, the cost sits in the spread, and it says profits are free of CGT.
Sources
Figures as published by each broker.
Do Pepperstone's ETF CFDs carry commission on the Standard account?
Pepperstone's Standard account is commission-free except on shares, and it prices US ETF CFDs with the same per-share commission as US shares. Confirm in the symbol's specification before you trade.
How many ETF CFDs does Pepperstone offer in the UK?
Its UK markets page says 80+ ETFs, while its account comparison table, sourced on 12 March 2025, counts 95. Pepperstone's own figures differ, so search the platform for the specific fund you want.
Why can an ETF CFD look wider than EUR/USD?
EUR/USD trades around the clock in a very deep market, while an ETF CFD mirrors one listed fund and depends on that fund's own exchange. Compare spreads within the same asset class, not across them.
Trading CFDs and spread bets on margin carries a high risk of rapid losses, because leverage magnifies every price move. Make sure you understand how these products work before you open a position. Nothing here is investment advice; fees and limits are as published by each broker at the time of writing and may change.