What are Pepperstone's spreads on gold?
Verdict
- Pepperstone publishes an average XAU/USD spread of 0.12 on its Razor account, plus $3.50 commission per side, and 0.19 on its Standard account with no commission; that published pricing is why it is our first choice for gold traders in the UAE.
- Gold is quoted in dollars per ounce, so 0.12 means $0.12 an ounce: on 100 ounces, Razor comes to about $19 with commission and Standard to about $19 in spread alone.
- UAE retail clients can use up to 1:200 leverage on gold, and Pepperstone does not offer its swap-free account to UAE residents, so gold held overnight pays or earns swap.
- IC Markets publishes a lower Raw gold average (0.09); for Capital.com and XS we hold no published gold average.
Pepperstone prices gold in two ways: a tight raw spread plus commission on Razor, or one wider spread on Standard. Here are the published numbers, what they cost on a real position, and the leverage and overnight terms a UAE resident gets.
Published XAU/USD spreads by account
Pepperstone publishes these as average spreads, not fixed prices. Live spreads move with liquidity and usually widen around US data releases and the daily rollover. Its UK pricing page also shows a Razor minimum of 0.08 on spot gold, which shows how tight it can get in quiet hours; for budgeting, use the averages.
| Account | Average spread | Commission | Platforms in the UAE |
|---|---|---|---|
| Razor | 0.12 | $3.50 per side | MT4, MT5, cTrader, TradingView, Pepperstone platform |
| Standard | 0.19 | None | Pepperstone platform, MT5, cTrader |
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From spread to dollars: a gold trade costed
XAU/USD is the price of one ounce in US dollars, so every 0.01 of spread costs one cent per ounce. Check the contract size in your platform's symbol details; the sums below assume 100 ounces, a common size for one standard gold lot.
- Razor: 100 × $0.12 = $12 of spread, plus $7 round-trip commission, about $19.
- Standard: 100 × $0.19 = $19 of spread, no commission, about $19.
- At 10 ounces, both accounts come to roughly $1.90.
- On the published averages the two accounts cost about the same for gold, unlike EUR/USD, where Razor (about $8 a lot on MT5) clearly beats Standard (about $11).
Leverage on gold for UAE residents
Pepperstone's UAE site caps retail gold leverage at 1:200, which means a margin of 0.5% of the position's value. Clients who qualify as professional can go to 1:500 (0.2% margin), but the UAE Pro test copies Pepperstone's Australian criteria, and pros lose the negative balance protection retail clients are entitled to; Pepperstone may instead give them a one-time cover of up to $100,000. Higher leverage doesn't make a trade cheaper. It lets a smaller deposit control a bigger position, and losses grow at the same rate as gains.
Holding gold overnight
Many gold traders hold for days, so swap becomes part of the cost. Pepperstone does not offer its swap-free account to UAE residents; it is limited to residents of 23 listed countries. If you need swap-free gold in the UAE, Capital.com lists the UAE among the countries eligible for its swap-free account (it doesn't publish the admin fees), and XS applies swap-free status automatically to UAE residents on MT4 and MT5 and says it doesn't widen spreads in exchange.
How Pepperstone's gold price compares
IC Markets' Raw average works out $3 lower per 100 ounces before commission, but its regulation pages list companies in Seychelles, Cyprus and Australia only, and it publishes no AED account or Gulf funding route. eToro's percentage 'from' figure can't be set directly against an average. For a UAE resident who wants a dirham account and transfers through Mashreq Bank or Barclays, Pepperstone keeps the edge.
| Broker | Published gold figure | Type |
|---|---|---|
| Pepperstone Razor | 0.12 + $3.50 per side | Average |
| IC Markets Raw Spread | 0.09 + $3.50 per side (0.05 minimum) | Average |
| eToro | From 0.025% of the trade | Minimum ('from') |
| Capital.com | Not in our verified data | — |
| XS | Not in our verified data | — |
Sources
Gold pricing as each broker publishes it.
Is Pepperstone's gold spread fixed?
No. 0.12 on Razor and 0.19 on Standard are published averages; the live spread changes through the day.
Which Pepperstone account is cheaper for gold?
On the published averages they come out about even, roughly $19 per 100 ounces either way. Razor makes more sense if you also trade forex, where it is clearly cheaper.
Can I trade gold on TradingView with Pepperstone?
Yes, with a Razor account. Standard accounts in the UAE run on Pepperstone's own platform, MT5 and cTrader.
Does cTrader reduce the commission on gold?
No. Pepperstone charges $3.50 per side on XAU/USD on cTrader, the same as on MT5.
Trading CFDs and forex on margin is high risk: leverage can wipe out a deposit quickly, and these products are complex. Nothing here is investment advice. Broker fees, licences and account terms change, so check them on the broker's own site before you sign up.