Which broker has the lowest spread on the Hang Seng index CFD?
Verdict
- Pepperstone has the lowest Hang Seng CFD spread we can verify: a published 5-point minimum and 5-point average on HK50, on both Standard and Razor, with no commission.
- Capital.com and XS publish no HK50 spread in our data, so a like-for-like ranking with them is not possible.
- Because Pepperstone's minimum and average are the same, the 5-point figure is a realistic cost, not a best-case advertisement.
- Pepperstone serves Hong Kong residents from the Bahamas (SCB, SIA-F217); it does not hold an SFC licence.
Spread claims on index CFDs are slippery: most brokers quote a 'from' figure that you may rarely see. Pepperstone publishes both the minimum and the average for HK50, and they match at 5 points. That is the lowest Hang Seng spread we can document among brokers that accept Hong Kong residents.
Pepperstone's HK50 spread in context
The index-fees page lists HK50 at 5 points minimum and 5 points average for August 2026 data, on both accounts. Index CFDs carry no commission at Pepperstone, so this is the full dealing cost before financing. The page also lists an HK50-F forward at a 10-point minimum, so the cash CFD is the cheaper way to trade short-term moves. One detail on sourcing: these HK50 figures come from Pepperstone's Australian index page, as the international site's table was not separately verified; confirm the live spread in your platform. And note that Pepperstone's Hong Kong clients are not under SFC supervision.
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Asian index spreads at Pepperstone
| Index CFD | Minimum | Average | Commission |
|---|---|---|---|
| HK50 | 5 | 5 | None |
| HK50-F (forward) | 10 | n/a | None |
| CN50 | 10 | 10.2 | None |
| JPN225 (Razor) | 7 | 7.4 | None |
| AUS200 | 1 | 1.5 | None |
Why average beats 'from'
A 'from 1 point' claim says only that the spread touched that level at least once. What you pay over a month is closer to the average, and wider still in thin hours. When you compare brokers on HK50, ask each for its average spread over a stated period, then check it in your own platform at the times you trade: the HKEX open, lunch and the afternoon close behave differently. Capital.com and XS, our second and third choices, may well be competitive, but without published figures in our data we will not rank them on this point.
Turning a spread into money
- At HK$10 a point, 5 points cost HK$50 per round trip.
- At HK$50 a point, the same spread costs HK$250.
- Ten round trips a week at HK$10 a point cost HK$500 in spread alone.
- Holding overnight adds financing, which the spread table does not show.
Sources
Pepperstone's published spreads.
Does Pepperstone charge commission on HK50?
No. Index CFDs are spread-only on both Standard and Razor accounts.
Is the HK50 forward cheaper than the cash CFD?
Not on spread: the HK50-F forward lists a 10-point minimum against 5 points on the cash CFD.
Why might my HK50 spread be wider than 5 points?
Five points is an average. Spreads usually widen around the open, during lunch and in fast markets.
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.