Which broker has the lowest spread on the UK 100?
Verdict
- Pepperstone publishes the lowest UK 100 spread in our verified broker data: a 1-point minimum on its Razor CFD and spread betting accounts, and 1.2 on Standard.
- Its index-fee page gives typical UK 100 averages of 1.5 points on Razor and 1.9 on Standard (August 2026 data, published for its Australian entity).
- That page also says index CFDs carry no commission, which makes Razor the cheaper Pepperstone account for the UK 100. UK clients should confirm this applies to them.
- We found no published UK 100 spread for IG, CMC Markets, Capital.com or other UK rivals in our data, so they need comparing on their live platforms.
The UK 100 is the CFD and spread-bet version of the FTSE 100. For an index that trades in points, the spread per point is the main cost on a short-term trade. Pepperstone publishes both minimum and average figures, which is more than most rivals do, and is our pick.
Pepperstone's UK 100 spreads
On Pepperstone's UK cost page the UK 100 minimum spread is 1 point on Razor, 1.2 on Standard and 1 on the spread betting account. Typical spreads are higher: the index-fee page shows averages of 1.5 points on Razor and 1.9 on Standard. Retail leverage on major indices is 1:20, so a position needs 5% margin, and accounts are held by FCA-regulated Pepperstone Limited (684312).
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Razor or Standard for the UK 100?
For FX, Razor trades a tighter spread for a commission. On indices, Pepperstone's index-fee page says there is no commission on index CFDs, so Razor's tighter UK 100 spread comes without the trade-off. At £1 per point exposure, a round trip at the averages costs about £1.50 on Razor and £1.90 on Standard. The gap is small per trade but adds up for active index traders.
| Account | Minimum | Average (index-fee page) |
|---|---|---|
| Razor CFD | 1 | 1.5 |
| Standard CFD | 1.2 | 1.9 |
| Spread bet | 1 | Not published |
| UK 100 forward | 3 | Not published |
Comparing the UK 100 at other brokers
IG, CMC Markets, Capital.com, Spreadex and StoneX Trading all offer UK index trading, but their UK 100 spreads aren't in the verified data behind this page. To compare fairly:
- Check the quote at the 8:00 am UK cash open, at midday, and after 4:30 pm when the cash market has closed.
- Note whether the figure is a minimum or a typical spread.
- Check whether guaranteed stops are available: IG, CMC Markets and Capital.com offer them; Pepperstone does not.
- Factor in overnight financing if you hold positions.
Sources
What is Pepperstone's minimum spread on the UK 100?
1 point on Razor and on spread bets, 1.2 on Standard, according to its UK cost page.
Is there commission on UK 100 CFDs at Pepperstone?
Pepperstone's index-fee page says index CFDs carry no commission. That page is published for its Australian entity, so UK clients should confirm.
Why is the UK 100 spread wider in the evening?
When the London cash market is closed, liquidity in the underlying index is lower, and brokers typically quote wider spreads.
Index CFDs and spread bets are leveraged and can lose value quickly, especially on market gaps. Figures are broker-published and change; this page is not investment advice.