Which broker has the lowest spread on the US 500?
Verdict
- Pepperstone has the lowest US 500 spread in our verified broker data: 0.4 points minimum on Razor and on UK spread bets, with a published Razor average also of 0.4.
- Its Standard account starts at 0.6 on the UK page, and the index-fee page says index CFDs carry no commission.
- On the US 500 the spread is tight relative to the index level, so overnight financing usually outweighs spread for anyone holding more than a few days.
- Other brokers' US 500 spreads aren't in our verified data; compare them live during US cash hours.
The US 500 tracks the S&P 500 and is one of the cheapest index markets to trade. Pepperstone's 0.4-point spread on Razor is both its minimum and its published average, a sign of how consistent pricing is during the US session. That puts it first in our data.
Pepperstone's US 500 pricing
Pepperstone's UK cost page lists US 500 minimums of 0.4 on Razor, 0.6 on Standard and 0.4 on spread bets. The index-fee page puts the Razor average at 0.4 as well, on August 2026 data. With no commission on index CFDs, according to that page, a £5-per-point position costs about £2 to open and close on Razor. Retail leverage is 1:20 on major indices, and Pepperstone Limited is FCA-regulated (684312).
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US 500 next to Pepperstone's other US indices
| Index | Razor min | Standard min | Spread bet min | Razor average |
|---|---|---|---|---|
| US 500 | 0.4 | 0.6 | 0.4 | 0.4 |
| NAS100 | 1 | 1.2 | 1 | 1 |
| US30 | Not on UK page | Not on UK page | Not on UK page | 2 |
Contract types to watch
- Cash US 500: the undated contract with the 0.4-point spread, charged overnight financing if held past the daily cut-off.
- US 500 forward: a dated contract with a 1-point minimum spread on Pepperstone's index-fee page; forwards typically build financing into the wider spread rather than charging nightly, so check availability and terms for UK accounts.
- US500 perpetual CFD: listed on Pepperstone's FCA margin table, but in the UK perpetual CFDs are for professional clients only.
Comparing rivals on the US 500
Capital.com, IG and CMC Markets all offer US index CFDs to UK clients, and IG, CMC Markets and Capital.com add guaranteed stops, which Pepperstone does not. Their US 500 spreads aren't part of our verified data, so put each firm's live quote next to Pepperstone's during US cash hours (2:30 pm to 9:00 pm UK time for most of the year), and again overnight, when spreads usually widen.
Sources
What is Pepperstone's US 500 spread?
0.4 points minimum on Razor and spread bets, 0.6 on Standard; the published Razor average is also 0.4.
Is the US 500 the same as the S&P 500?
The US 500 is the broker's CFD or spread-bet market tracking the S&P 500 index.
Can UK retail clients trade the US 500 perpetual CFD at Pepperstone?
No. In the UK, Pepperstone's perpetual CFDs are for professional clients only.
US index CFDs and spread bets are leveraged; prices can gap at the US open and losses can exceed what you expect. Spreads cited are broker-published and change. Not investment advice.