What are the typical spreads and commissions for CFD trading?
Verdict
- At Pepperstone, our pick, typical published costs are 0.1 pips plus USD 3.50 per side (or 1.1 pips with no commission) on EUR/USD, no commission on index CFDs, and 0.07% per side on Australian share CFDs.
- Commission-based raw accounts at other ASIC-licensed brokers sit in a similar band: IC Markets $3.50 per side, FP Markets and Vantage US$3, Fusion Markets $2.25.
- Spread-only accounts typically cost 1 to 1.2 pips on EUR/USD: Pepperstone Standard 1.1 average, FP Markets Standard 1.21 average, eToro from 1 pip.
- Overnight financing is a separate cost on positions held past the daily rollover.
CFD costs depend on the asset class as much as the broker. Forex is priced through tight spreads with or without a commission, indices usually through the spread alone, and shares through a percentage commission. Here are the published figures at Pepperstone, with peers for comparison.
Pepperstone's published costs by asset class
Pepperstone publishes averages, not just best-case 'from' figures, which makes it a fair benchmark. Its minimum deposit is $10 and it charges no deposit, withdrawal or inactivity fees in Australia.
| Market | Razor | Standard |
|---|---|---|
| EUR/USD | 0.1 pips avg + USD 3.50/side (AUD 3.50 on MT5, AUD account) | 1.1 pips avg, no commission |
| GBP/USD | 0.2 pips avg + commission | 1.2 pips avg |
| Gold (XAU/USD) | 0.12 avg + AUD 4.50/side on MT5 (AUD account) | 0.19 avg |
| US500 | 0.4 points avg, no commission | 0.5 avg |
| AUS200 | 1.5 points avg, no commission | 1.5 avg |
| Australian share CFDs | 0.07% per side | 0.07% per side |
| US share CFDs | $0.02 per share | $0.02 per share |
| BTC/USD | 15.15 avg, no commission | 20.15 avg |
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How other ASIC-licensed brokers compare on EUR/USD
'From' figures are minimums; averages are what you usually pay. Compare averages with averages.
| Broker and account | Spread | Commission |
|---|---|---|
| IC Markets Raw Spread | 0.01 pips average | $3.50 per side |
| FP Markets Raw | 0.11 pips average | US$3 per side |
| FP Markets Standard | 1.21 pips average | None |
| Vantage Raw ECN | From 0.0 pips | $3 per side |
| Vantage Standard STP | From 1.4 pips | None |
| Fusion Markets Zero | Not published for EUR/USD | $2.25 per side |
| eToro | From 1 pip | None |
Worked examples
- Forex: one round-turn lot of EUR/USD on Pepperstone Razor costs about $8 on MT5 ($1 spread, $7 commission) or $11 on Standard.
- Shares: a $10,000 position in an ASX share CFD costs $7 in commission each way at 0.07%, so $14 to open and close, plus the spread.
- Indices: a US500 trade on Razor costs the 0.4-point spread multiplied by your size per point, with no commission.
Costs that are easy to miss
- Overnight financing on positions held past the rollover.
- Currency conversion if your account currency differs from the instrument's.
- Wider spreads around news and at market open.
- Guaranteed stops, if you use them at Capital.com, may be priced separately; check its terms.
Sources
Terms as each broker publishes them on its own site.
Do CFD brokers charge commission on indices?
Many do not. Pepperstone charges no commission on index CFDs on either account; you pay the spread.
What is a typical CFD commission per lot?
Among the raw accounts in our data, $2.25 to $3.50 per side, or $4.50 to $7 per round-turn lot on forex.
Is the Standard account more expensive than Razor?
On EUR/USD, yes: about $11 per round-turn lot against $7 to $8 on Razor, depending on platform.
CFDs are complex instruments with a high risk of losing money rapidly due to leverage. Costs are as published by each broker and change over time; check them before you trade. Read the PDS and TMD. Not investment advice.