What are Pepperstone's spreads and fees?
Verdict
- Pepperstone publishes average spreads of 0.1 pips on EUR/USD for Razor (plus $3.50 commission per side on MT5) and 1.1 pips on Standard with no commission, which is why it is our top pick on cost.
- Other averages: GBP/USD 0.2 / 1.2 pips, USD/JPY 0.3 / 1.3 pips and gold 0.12 / 0.19 (Razor / Standard).
- Index and crypto CFDs carry no commission; share CFDs do, for example $0.02 per share on US shares.
- Pepperstone charges no inactivity or account-keeping fee; the main non-trading cost is a fee on international bank-wire withdrawals ($20 on its international costs page).
Pepperstone's costs come in four parts: the spread, a commission on some accounts and products, overnight swap, and a short list of non-trading fees. Below is each part with the published figures, and what one trade actually costs.
Pepperstone's costs in one paragraph
Choose Razor and you pay close to the raw market spread plus a fixed commission; choose Standard and you pay a wider spread with no commission. On one lot of EUR/USD, opened and closed, that works out at about $8 on Razor through MT5, about $7 on Razor through cTrader, and about $11 on Standard, at the published averages. Positions held overnight also pay or earn swap, and UAE residents cannot switch to Pepperstone's swap-free account.
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Average forex and gold spreads
| Instrument | Razor | Standard |
|---|---|---|
| EUR/USD | 0.1 pips + commission | 1.1 pips |
| GBP/USD | 0.2 pips + commission | 1.2 pips |
| USD/JPY | 0.3 pips + commission | 1.3 pips |
| XAU/USD (gold) | 0.12 + commission | 0.19 |
Index and crypto CFD spreads
These come from Pepperstone's Australian pages (August 2026 data); other entities may differ slightly, so check your platform. No commission is charged on index or crypto CFDs.
- US500: 0.4 average on Razor, 0.5 on Standard.
- NAS100: 1 average on Razor, 1.2 on Standard.
- GER40: 1 average on Razor, 1.3 on Standard.
- BTC/USD: 15.15 average on Razor, 20.15 on Standard.
Commissions
- Razor FX: $3.00 per side on cTrader; $3.50 per side on MT5, TradingView and the Pepperstone platform; $7 per lot on MT4, charged at opening.
- Razor gold on cTrader: $3.50 per side.
- Share CFDs: US shares and ETFs $0.02 per share; UK and German shares 0.10% per side; Hong Kong shares 0.20% per side on Pepperstone's international pages.
- Standard account: no commission, except on shares.
Fees outside the trade
- Overnight swap on positions held past rollover. Perpetual CFDs use a funding rate set weekly and applied daily instead.
- No inactivity or account-keeping fee. Accounts holding under 10 units of currency and unused for 3+ months may be archived.
- International bank-wire withdrawals: $20 on Pepperstone's international costs page. UAE clients can withdraw by Mashreq Bank or Barclays local transfer instead.
Sources
Pepperstone pricing pages.
Does Pepperstone charge for deposits?
Our sources show no Pepperstone deposit fee on its UAE funding methods; your bank may charge its own fees.
Is Pepperstone cheaper than XS?
On EUR/USD both publish a 0.1-pip average on their raw-pricing accounts. Pepperstone's cTrader commission ($6 round turn) matches XS Elite's $6, and Pepperstone's $10 minimum is far lower than Elite's $500.
Are the spreads fixed?
No. Pepperstone's spreads are variable; the figures above are published averages.
Leveraged CFDs are complex and carry a high risk of fast losses. Trade only with money you can afford to lose and only once you understand the product. We do not give investment advice, and broker-published terms quoted here may have changed since we checked them.