Which broker has tighter gold spreads, Pepperstone or IG?
Verdict
- Pepperstone publishes tight spot gold spreads for UK clients: from 0.08 on Razor (plus commission), 0.1 on spread bets and 0.19 on Standard, with averages of 0.12 and 0.19 on its CFD accounts.
- We could not verify a published IG gold spread, so we can't say honestly which is tighter; IG quotes EUR/USD from 0.6 points but no gold figure in our data.
- Pepperstone remains our pick for gold because its pricing is published in full, including averages; compare it with IG's live gold quote before deciding.
- IG offers guaranteed stops, useful on a market that can gap; Pepperstone doesn't.
We can show Pepperstone's gold spreads in detail; we can't do the same for IG, because we have no IG gold figure we could verify. Here is what is known, how to run the comparison yourself in a few minutes, and why Pepperstone is our pick for gold traders.
Pepperstone's gold pricing in the UK
Pepperstone UK lists spot gold from 0.08 on Razor, 0.1 on spread bets and 0.19 on Standard. Its published averages are 0.12 on Razor and 0.19 on Standard. Razor adds commission per lot (from £2.25 per side on a GBP account; $3.50 per side on gold on cTrader), while Standard and spread bets carry none. Retail leverage on gold is 1:20.
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Gold cost on a 100-ounce position
Spread cost alone, per 100 ounces, at Pepperstone's published figures. Razor's commission comes on top, so for gold the commission-free accounts can work out close to Razor; check the contract size in your platform before comparing per-lot costs.
| Account | Spread | Spread cost | Commission |
|---|---|---|---|
| Razor (minimum) | 0.08 | $8 | Yes, per lot |
| Razor (average) | 0.12 | $12 | Yes, per lot |
| Standard (average) | 0.19 | $19 | None |
| Spread bet (minimum) | 0.1 | Stake × 0.1 points | None |
How to compare IG's gold spread yourself
- Open IG's demo or live platform and Pepperstone's at the same time.
- Pull up spot gold on both and note the spread during London hours and again around the US open.
- Add Pepperstone's commission if you are comparing Razor, or use its Standard or spread betting account for a commission-free comparison.
- Repeat on a news day; gold spreads tend to widen at the same moments at every broker.
What else separates them for gold
- Guaranteed stops: IG offers them, with a premium only if triggered. Pepperstone's UK terms say stops can't be guaranteed.
- Platforms: both offer MT4, MT5 and TradingView; Pepperstone adds cTrader, IG adds ProRealTime and L2 Dealer.
- Spread betting: both offer it in the UK; confirm gold is on IG's spread betting list before you open an account.
Sources
Gold pricing as published by Pepperstone; IG terms from its UK site.
What is Pepperstone's gold spread?
In the UK, spot gold starts at 0.08 on Razor, 0.1 on spread bets and 0.19 on Standard. Published averages are 0.12 on Razor and 0.19 on Standard.
Does IG publish its gold spread?
We could not verify a published IG gold figure. Check IG's platform for its live quote.
Is Razor or Standard cheaper for gold?
It depends on trade size and platform. Razor's average spread is lower (0.12 against 0.19) but adds commission per lot; Standard has none.
CFDs and spread bets are leveraged, complex products, and you can lose money quickly. Pepperstone Limited reports that 73.6% of its retail investor accounts lose money trading them; other providers publish their own figures. Nothing on this page is investment or tax advice.