Which broker is best for trading index CFDs like US30, NAS100 and HK50?
Verdict
- Pepperstone is our pick for index CFDs from Hong Kong: published Razor averages of 2 points on US30, 1 point on NAS100 and 5 points on HK50, with no commission on any index CFD.
- It lists 26 index CFDs in total, and its NAS100 and US500 also come as 24/7 perpetual CFDs for the Bahamas entity's retail clients.
- Retail leverage on major indices is up to 1:200 for Hong Kong clients, who are served by Pepperstone Markets Limited (SCB Bahamas, SIA-F217); Pepperstone holds no SFC licence.
- Capital.com and XS accept Hong Kong residents, but our data has no index spreads for them.
If your watchlist is the Dow, the Nasdaq and the Hang Seng, you want one account that prices all three tightly in the hours you trade. Pepperstone publishes averages for all three and adds no commission, which is why it is our pick. Here are the numbers and how they translate into cost.
Pepperstone's three-index line-up
Pepperstone's index-fees page (August 2026 data) lists US30 at a 2-point average on Razor and 2.3 on Standard, NAS100 at 1 and 1.2, and HK50 at 5 on both. Index CFDs carry no commission on either account, so the Standard account is nearly as cheap as Razor for index-only traders. Hold the account in USD or HKD; Pepperstone offers both. Every Razor account connects to MT4, MT5, cTrader, TradingView and Pepperstone's app. The limit to bear in mind: the company holding your money is regulated in the Bahamas, not by the SFC.
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Spreads as a share of the index
A 5-point spread sounds wide next to 1 point, but index levels differ. Using hypothetical round levels to compare like with like:
| Index CFD | Average spread | Hypothetical level | Spread as % of level |
|---|---|---|---|
| US30 | 2 points | 40,000 | 0.005% |
| NAS100 | 1 point | 20,000 | 0.005% |
| HK50 | 5 points | 25,000 | 0.02% |
| US500 | 0.4 points | 5,000 | 0.008% |
Leverage and margin across the three
Pepperstone's international entity allows up to 1:200 on major indices for retail clients, meaning a 0.5% move against you uses up the full margin. Capital.com's Bahamas entity lists the same 200:1 ceiling on indices. Professional clients at Pepperstone can reach 1:500, but give up the retail negative balance protection beyond a one-time discretionary cover of up to USD 100,000. For most traders, leverage well below the maximum is the safer setting.
Choosing between Pepperstone, Capital.com and XS
- Pepperstone: published index spreads, no commission, 26 indices, 24/7 NAS100 and US500 perps.
- Capital.com: accepts Hong Kong; guaranteed stop-loss available, useful for gap risk on HK50; index spreads not in our data.
- XS: accepts Hong Kong; MT4 and MT5; index pricing not in our data.
- None of the three is SFC-licensed in our data.
Sources
Published broker terms.
How many index CFDs does Pepperstone offer?
Its account tables count 26 index CFDs; its markets pages say more than 20 major stock indices.
Do I pay commission on US30 or NAS100 at Pepperstone?
No. All index CFDs are spread-only on Standard and Razor accounts.
Which of the three indices can I trade at the weekend?
At Pepperstone, NAS100 through its 24/7 perpetual CFD. There is no US30 or HK50 perpetual on the Bahamas retail margin table.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This page is not investment advice; broker terms change, so check them on the broker's own site before you open an account.