What commission do UK brokers charge on share CFDs?
Verdict
- Pepperstone, our pick, charges 0.10% per side on UK share CFDs (minimum £0.01), 0.10% on German shares, 0.15% on Hong Kong shares, 0.07% on Australian shares and $0.02 per share on US shares and ETFs.
- Share commission applies on both Razor and Standard; the Standard account charges commission on shares only.
- Spread betting on shares at Pepperstone is commission-free, with the cost built into the spread.
- The other firms in our fact pack don't publish share CFD commission we could verify, so compare their fee pages directly.
Share CFDs are usually priced differently from FX or indices: instead of a spread-only price, most firms add a commission on each side. Pepperstone publishes its rates by market, which lets you work out a trade's cost before you place it. Here are the rates, worked examples, and when a spread bet is the cheaper wrapper.
Pepperstone's share CFD commission
Pepperstone Limited (FCA 684312) charges share commission per side, so you pay it when you open and again when you close. Its UK costs page gives the rates by market, and its FAQ puts the overall range at 0.07% to 0.20% per side. The same rates apply on Razor and Standard, because share CFDs are the one market where the Standard account charges commission. Pepperstone offers 1,100+ share CFDs across the US, UK, Europe, Australia and Hong Kong, with a £10 card minimum and no inactivity fee.
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Commission by market, with a worked trade
| Market | Commission per side | Example position | Open + close |
|---|---|---|---|
| UK shares | 0.10% (min £0.01) | £5,000 | £10 |
| German shares | 0.10% | €5,000 | €10 |
| Hong Kong shares | 0.15% | HK$40,000 | HK$120 |
| Australian shares | 0.07% | A$5,000 | A$7 |
| US shares and ETFs | $0.02 per share | 200 shares | $8 |
Percentage versus per-share pricing
On US shares the commission depends on the number of shares, not their value. That favours higher-priced stocks and penalises cheap ones:
- 10 shares of a $500 stock ($5,000) cost $0.20 per side, about 0.004% of the position.
- 2,000 shares of a $2.50 stock (also $5,000) cost $40 per side, 0.8% of the position.
- On UK and European shares the percentage is fixed, so the cost is the same share of the trade whatever the share price.
Spread bet or CFD for shares
A share spread bet at Pepperstone carries no commission; you stake pounds per point and the cost is in the spread. Pepperstone also says spread bets carry no capital gains tax or stamp duty in the UK, while share CFDs carry no stamp duty but profits are subject to CGT and losses can be offset. Tax treatment depends on your circumstances and can change. Retail leverage is 1:5 on both, so £5,000 of exposure needs £1,000 of margin.
Costs beyond commission
- Spread: the bid-ask gap on the share itself, paid on every trade.
- Overnight fee: charged on positions held past 10 pm UK time, on the full position value.
- Currency: US, European and Hong Kong shares settle in their local currency and are converted to your base currency (GBP, USD, EUR or CHF at Pepperstone UK).
- Margin: CMC Markets publishes share margin from 20%, matching the 1:5 cap Pepperstone applies.
Sources
Does Pepperstone's Standard account charge commission on shares?
Yes. Standard is commission-free on other markets, but share CFDs carry commission on both Standard and Razor.
Is there a minimum commission on UK share CFDs at Pepperstone?
Yes, £0.01 per side, alongside the 0.10% rate.
Are share spread bets commission-free at Pepperstone?
Yes. Spread bets carry no commission; you pay the spread.
Share CFDs and spread bets are leveraged, complex products, and you can lose money quickly. Consider whether you understand them and can afford the risk. This is not investment or tax advice; commission rates are as published and may change.