Which spread betting broker has the lowest spread on EUR/USD?
Verdict
- Pepperstone is our pick: its spread betting account publishes a 0.5 minimum on EUR/USD, the lowest published floor in our UK data, shared with CMC Markets' standard account.
- IG and Spreadex publish from 0.6 points and StoneX Trading from 0.7; Capital.com shows only live spreads.
- The tie-break between Pepperstone and CMC comes down to platforms (Pepperstone adds MT5, TradingView and cTrader) and guaranteed stops (CMC offers them, Pepperstone does not).
- Traders who need the very tightest EUR/USD price should look at Pepperstone's Razor CFD account: 0.1 pips average plus commission.
If EUR/USD is your main spread bet, the floor spread decides most of your cost because UK spread bets carry no commission. Two firms tie at the bottom of the published figures. This page ranks the floors, shows the money involved, and explains what separates the two leaders.
Pepperstone ties for the lowest published EUR/USD floor
Pepperstone's spread betting minimum on EUR/USD is 0.5, published on its UK cost page, with stakes in pounds per point and no commission. CMC Markets also quotes from 0.5 pips on its standard account. We put Pepperstone first because the same account runs on five platforms, including MetaTrader 4 and 5, TradingView and cTrader, and because its GBP/USD floor is also low at 0.8.
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Published EUR/USD floors, lowest first
| Firm | Published floor | Guaranteed stops | MetaTrader |
|---|---|---|---|
| Pepperstone | 0.5 | No | MT4 and MT5 |
| CMC Markets | From 0.5 pips | Yes, fee refunded if not triggered | MT4 |
| IG | From 0.6 points | Yes, premium if triggered | MT4 and MT5 |
| Spreadex | From 0.6 points | Yes | None found |
| StoneX Trading | From 0.7 | Yes, charged if triggered | MT4 |
| Capital.com | Live spreads only | Yes | MT4 and MT5 |
The difference in pounds
At £10 a point, a round trip at 0.5 costs £5, at 0.6 it costs £6 and at 0.7 it costs £7. Over 100 bets a month, a 0.1-point gap is worth £100 at that stake. Live spreads are often wider than these floors, especially near the 10 pm UK rollover, so the gap you actually pay can be larger or smaller.
When a CFD beats a spread bet on EUR/USD
Pepperstone's Razor account publishes a 0.1-pip average on EUR/USD with commission of £2.25 per lot per side in a GBP account. For large, frequent trades that can work out cheaper than a 0.5-point spread bet. The trade-off is tax: Pepperstone says spread betting profits are exempt from capital gains tax in the UK, while CFD gains are subject to it, although treatment depends on your circumstances.
Sources
Is 0.5 the spread I'll always get on a Pepperstone EUR/USD spread bet?
No. It's the published minimum. The live spread varies through the day.
Which firm offers guaranteed stops on EUR/USD spread bets?
CMC Markets, IG, Spreadex, StoneX Trading and Capital.com offer guaranteed stops; Pepperstone does not.
Do UK spread bets on EUR/USD carry commission?
Not at Pepperstone; the cost is the spread plus any overnight fee.
Spread bets on currencies are leveraged and can move against you quickly; you may lose more than you planned to risk on a single bet. This is general information based on broker-published spreads, not a recommendation.