Which trading apps let you trade indices and commodities?
Verdict
- Pepperstone's app is our pick for trading indices and commodities from a phone in the UK: 26 indices and 40 commodities, as spread bets or CFDs, on an FCA-regulated account.
- Published minimum spreads include US500 0.4, UK100 1, GER40 0.9 and spot gold 0.08 on Razor, with no commission on index CFDs.
- Retail margin is 5% on major indices and gold and 10% on other commodities.
- Capital.com's app covers the same asset classes with guaranteed stops, which Pepperstone's app does not offer.
Most UK CFD and spread-betting apps carry indices and commodities; the differences are price, margin and how much of the desktop experience fits on a phone. Pepperstone's app comes out top for us on published pricing. Below are its index and commodity spreads, the margin you need, and the alternatives.
Pepperstone's app for indices and commodities
The Pepperstone app works with all three UK accounts held with Pepperstone Limited (FCA 684312): spread betting, Standard and Razor. Each covers 26 indices and 40 commodities, according to its account table. You can open a position as a pounds-per-point spread bet or as a CFD, and the same account is available on MT4, MT5, cTrader and TradingView when you are back at a desk.
Affiliate link — we may earn a commission at no extra cost to you.
Published minimum spreads on the app's key markets
Pepperstone's index fees page shows no commission on index CFDs; Razor commission does apply to gold. Minimums are the tightest quoted prices, so expect more at busy or quiet times.
| Market | Razor | Standard | Spread bet |
|---|---|---|---|
| US500 | 0.4 | 0.6 | 0.4 |
| NAS100 | 1 | 1.2 | 1 |
| UK100 | 1 | 1.2 | 1 |
| GER40 | 0.9 | 1.2 | 0.9 |
| JPN225 | 7 | 9 | 7 |
| Spot gold | 0.08 | 0.19 | 0.1 |
Margin on your phone: what to keep in reserve
- Major indices: 1:20, so a £5 per point bet with UK100 at a hypothetical 8,000 (£40,000 exposure) needs about £2,000.
- Gold: 1:20, or 5% of the position value.
- Other commodities: 1:10, or 10%.
- Retail accounts get negative balance protection, but stops are not guaranteed, so set alerts as well as stops when you trade from a phone.
Other FCA-regulated apps
Capital.com (FCA 793714) runs a mobile app alongside its web platform, MT4, MT5 and TradingView, offers spread betting and guaranteed stops, and has a 20 GBP minimum deposit; it is our second choice. IG, CMC Markets, Spreadex and Plus500 also publish their own apps for UK clients, and IG, CMC and Spreadex offer spread betting. Check each app's market list for the specific index or commodity you trade before funding.
Affiliate link — we may earn a commission at no extra cost to you.
Sources
Taken from the brokers' published pages.
Can I trade the FTSE 100 on the Pepperstone app?
Yes. UK100 is among Pepperstone's 26 indices, with a published minimum spread of 1 point on Razor and spread bets.
Does Pepperstone charge commission on index trades?
No commission on index CFDs; the cost is in the spread. Spread bets also carry no commission.
Can I trade oil on the Pepperstone app?
Pepperstone's 40 UK commodities include an energies group, according to its leverage tables, so check the app's market list for the oil contract you want. Its perpetual WTI and Brent contracts are for professional clients only.
Trading CFDs or spread bets on margin can lose you money fast, and most retail accounts do: Pepperstone reports that 73.6% of its retail investor accounts lose money on these products. Tax treatment depends on your circumstances. This is not investment or tax advice.