What are typical spreads and commissions on CFDs in the UK?
Verdict
- Pepperstone is our pick on UK CFD costs: Razor EUR/USD starts from 0.0 pips plus a commission from £2.25 per lot per side in a GBP account, and Pepperstone also publishes an average (0.1 pips), which most UK firms do not.
- Commission-free UK accounts typically quote EUR/USD from 0.5 to 1 pip: CMC Markets from 0.5, IG and Spreadex from 0.6, FOREX.com and StoneX Trading from 0.7, eToro from 1.
- Share CFDs usually carry a commission instead of a wider spread; at Pepperstone it is 0.10% per side on UK shares and $0.02 per share on US shares.
- Most 'from' figures are minimums, not averages, so compare like with like and add overnight financing if you hold past the daily cut-off.
A UK CFD trade costs you a spread, sometimes a commission, and overnight financing if you hold it. The numbers below are what brokers publish; we flag which are minimums and which are averages, because mixing them is the most common mistake in cost comparisons.
Pepperstone's UK prices, account by account
Pepperstone publishes minimum spreads for each of its three UK account types. Razor adds a commission on FX and metals (from £2.25 per lot per side in GBP); Standard and spread betting build the cost into the spread, with commission only on Standard share CFDs.
| Market | Razor | Standard | Spread bet |
|---|---|---|---|
| EUR/USD | 0 | 1 | 0.5 |
| GBP/USD | 0 | 1 | 0.8 |
| Spot gold | 0.08 | 0.19 | 0.1 |
| US500 | 0.4 | 0.6 | 0.4 |
| UK100 | 1 | 1.2 | 1 |
| GER40 | 0.9 | 1.2 | 0.9 |
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Typical EUR/USD pricing at other UK brokers
- CMC Markets: from 0.5 pips on its standard account; from 0.0 pips plus 0.0025% commission on FX Active.
- IG: from 0.6 points, no commission on standard spread bets and CFDs.
- Spreadex: from 0.6 points.
- FOREX.com: as low as 0.7; StoneX Trading: from 0.7 pips.
- Saxo: minimum spread of 0.7 pips on EUR/USD.
- eToro: from 1 pip.
- Capital.com: shows live spreads only, so we have no static figure to compare.
Averages versus minimums
Almost every figure above is a 'from' price: the tightest spread seen, not what you usually pay. Pepperstone also publishes averages, 0.1 pips on Razor and 1.1 pips on Standard for EUR/USD, which are the better guide to a normal day. Using the averages, one standard lot of EUR/USD costs about $8 round trip on Razor via MT5 ($1 spread plus $7 commission), $7 on cTrader, and $11 on Standard.
Commissions on share CFDs
Pepperstone charges share CFD commission per side: 0.10% on UK and German shares (UK minimum £0.01), 0.07% on Australian shares, 0.15% on Hong Kong shares and $0.02 per share on US shares and ETFs. A £5,000 position in a FTSE share therefore costs £5 to open and about £5 to close, before the spread. Spread bets on shares carry no commission; the cost sits in the spread.
Sources
Prices as published by each broker; check live figures in the platform.
Is a commission account cheaper than a commission-free one?
For frequent FX traders, usually. At Pepperstone's published averages, Razor costs about $8 per EUR/USD lot round trip on MT5 against $11 on Standard.
Do UK spread bets have commission?
Not at Pepperstone: the spread betting account has no commission, and the cost is in the spread, for example from 0.5 on EUR/USD.
What other costs should I expect on CFDs?
Overnight financing on positions held past the daily cut-off, conversion if you trade in a currency other than your account's, and, at some brokers, inactivity fees. Pepperstone charges no inactivity fee.
Low trading costs do not reduce the risk of CFDs, which are complex and leveraged and can lose you money rapidly. Spreads vary with market conditions. This page is not investment advice.