Which trading app has the lowest spreads?
Verdict
- Pepperstone's app, used with a Razor account, has the lowest published spreads we can verify across asset classes: 0.1 pips on EUR/USD, 0.12 on gold, 0.4 points on US500 and 15.15 on BTCUSD, all averages.
- On FX and gold Razor adds $3.50 commission per side in the app; on indices and crypto there is no commission.
- The XS Trading App matches Pepperstone on EUR/USD only, at 0.1 pips on the Elite account with a $6 round-turn commission and a $500 minimum; Capital.com publishes live prices only.
- From Hong Kong, the account is with Pepperstone Markets Limited (Bahamas, SIA-F217); Pepperstone has no SFC licence.
Most apps advertise a single 'from' spread on one currency pair. Pepperstone publishes averages across forex, metals, indices and crypto, which is what lets us call its app the lowest-spread option we can verify. Below is the full list, the commission that comes with it, and where the other apps stand.
Lowest published spreads in an app: Pepperstone on Razor
Pepperstone's own app runs both account types. On Razor, the spreads are close to raw market prices and a commission is added on FX and gold; on Standard the spread is wider and commission-free. For the lowest spread, pick Razor. You need $10 to open, and the same account also works in MT4, MT5, cTrader and TradingView if you want a bigger screen.
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Pepperstone's published averages by market
Index figures are August 2026 data from Pepperstone's index-fees page; crypto figures come from its crypto spreads page.
| Market | Razor average | Standard average | Razor commission in the app |
|---|---|---|---|
| EUR/USD | 0.1 pips | 1.1 pips | $3.50 per side |
| USD/JPY | 0.3 pips | 1.3 pips | $3.50 per side |
| Gold (XAU/USD) | 0.12 | 0.19 | $3.50 per side |
| US500 | 0.4 points | 0.5 points | None |
| NAS100 | 1 point | 1.2 points | None |
| BTCUSD | 15.15 | 20.15 | None |
When the lowest spread isn't the lowest cost
- FX: Razor's 0.1 pips plus $7 round trip is $8 a lot in the app, against $11 on Standard, so Razor wins.
- Gold: Razor's lower spread plus commission lands close to Standard's 0.19 at average conditions.
- Indices and bitcoin: no commission, so Razor's tighter spread is a straight saving.
- For FX only, cTrader charges $3.00 per side instead of $3.50, which beats the app by $1 a lot.
XS and Capital.com
The XS Trading App's published figure, 0.1 pips on EUR/USD with a $6 round-turn commission, equals Pepperstone's cTrader cost and beats its app by $1 a lot on that pair. It needs a $500 Elite account, and XS publishes no other spreads in our data. Capital.com's app shows live, dynamic spreads, but our data holds no published average to compare.
The account behind the app
Pepperstone has no Hong Kong licence. The SFC register shows no Pepperstone entity, and Hong Kong clients are served by Pepperstone Markets Limited under Bahamas licence SIA-F217, which names no compensation scheme. Retail clients are not liable for negative equity.
Sources
Figures as published by each broker or regulator on its own site.
Does the Pepperstone app charge commission?
On a Razor account, $3.50 per side on FX and gold. Index and crypto CFDs carry no commission, and the Standard account has none.
Is the XS app cheaper than Pepperstone's?
On EUR/USD only, by $1 a lot, if you hold a $500 Elite account. Pepperstone's cTrader matches it, and XS publishes no other spreads in our data.
Are the spreads in the app the same as on MT5?
The account's pricing is the same; only the FX commission changes by platform, with cTrader $0.50 per side cheaper.
CFDs are complex instruments and carry a high risk of losing money rapidly because of leverage. Pepperstone's international site states that 80% of retail investor accounts lose money when trading CFDs with this provider. This page is general information, not investment advice; check each broker's current terms before you open an account.