What are Pepperstone's spreads on EUR/USD?
Verdict
- Pepperstone publishes an average EUR/USD spread of 0.1 pips on its Razor account, plus commission, and 1.1 pips on its Standard account with no commission.
- Its UK cost page lists published minimums of 0.0 on Razor, 1.0 on Standard and 0.5 on the spread betting account.
- Razor commission is $3.50 per lot per side on MT5 and TradingView, $3.00 on cTrader, or £2.25 per side in a GBP account.
- All-in, one round-turn lot costs about $8 on Razor via MT5, $7 via cTrader and $11 on Standard, at the published averages.
Pepperstone quotes EUR/USD three ways, depending on the account. The number that matters is the all-in cost per trade, spread plus any commission, so this page gives each figure, says whether it is an average or a minimum, and turns them into pounds and dollars per trade.
Pepperstone's EUR/USD pricing by account
Razor is the raw-spread account: Pepperstone's published average on EUR/USD is 0.1 pips, and you pay a separate commission. Standard folds the cost into the spread, with a published average of 1.1 pips; Pepperstone says that includes a 1-point mark-up on FX. UK residents also get a spread betting account, where the published EUR/USD minimum is 0.5 and there is no commission. For most active EUR/USD traders, Razor is the cheaper route.
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The published figures in one table
| Account | Average spread | UK minimum | Commission per lot per side |
|---|---|---|---|
| Razor (CFD) | 0.1 pips | 0.0 | $3.50 MT5/TradingView; $3.00 cTrader; £2.25 GBP account |
| Standard (CFD) | 1.1 pips | 1.0 | None |
| Spread bet | Not published | 0.5 | None |
What a trade costs in money
Using one standard lot (100,000 EUR) opened and closed, where one pip is worth $10:
- Razor on MT5 or TradingView: $1 spread + $7 commission = $8.
- Razor on cTrader: $1 spread + $6 commission = $7.
- Standard: 1.1 pips = $11, nothing else.
- Spread bet at £2 a point: a 0.5-point spread costs £1 at the minimum; expect more when the live spread is wider.
When the spread is wider than published
Averages and minimums describe normal liquid hours. Spreads typically widen around the daily rollover, during thin late-session trading and around major data releases such as US payrolls or ECB decisions. If you trade those moments, watch the live spread in the platform before you click, and judge Pepperstone on what you are actually charged over a few weeks, not on one quote.
How this compares with other UK brokers
Few UK firms publish an average for EUR/USD; most give a from figure. IG quotes from 0.6 points and CMC Markets from 0.5 pips on its standard account. Capital.com shows only live dynamic spreads, so we have no static figure for it. A floor and an average are not the same measure, so Pepperstone's 0.1-pip average plus commission is the more informative number.
Sources
Is Pepperstone's EUR/USD spread fixed?
No. It is variable. The 0.1-pip Razor and 1.1-pip Standard figures are published averages; live spreads move with liquidity.
Which Pepperstone platform is cheapest for EUR/USD?
cTrader, because Razor commission there is $3.00 per side instead of $3.50.
Does the spread betting account charge commission on EUR/USD?
No. The cost is in the spread, with a published minimum of 0.5, plus overnight fees if you hold past 10 pm UK time.
Trading CFDs and spread bets on margin is high risk; leverage magnifies losses as quickly as gains. Make sure you understand how these products work before you start. This is general information, not a personal recommendation.