Which broker offers the widest range of commodity markets?
Verdict
- For UK traders, Pepperstone is our pick for commodity breadth: its UK account tables list 40 commodity markets, each tradable as a spread bet or as a CFD, under FCA regulation (Pepperstone Limited, reg. no. 684312).
- Its professional leverage table splits those markets into gold, other metals, energies and soft commodities, so the range goes well beyond oil and gold.
- We found no published commodity count for Capital.com or other UK brokers in our verified data, so this is the widest range we can confirm, not a measured league table.
- Capital.com is the better fit if you want guaranteed stop-losses on commodities; Pepperstone does not publish one.
If the number of commodity markets is what you are shopping on, start with Pepperstone: 40 markets from one FCA-regulated login, as spread bets or CFDs. Below is what sits inside that number, the leverage and cost terms on a UK retail account, and the case for Capital.com instead.
Pepperstone: 40 commodities, as spread bets or CFDs
Pepperstone Limited publishes a market count for each of its UK account types. On its account comparison table (data sourced 12 March 2025) commodities stand at 40 for spread betting and 40 for both CFD accounts, Standard and Razor, and the UK markets page gives the same figure. Its professional leverage table names four commodity groups — gold, other metals, energies and soft commodities — which shows the range covers agricultural markets as well as metals and energy. Because you may hold a spread-betting account and a CFD account at the same time, the same view on crude can be placed as a spread bet (Pepperstone says profits are exempt from capital gains tax, depending on your circumstances) or as a CFD, where you pay CGT but can offset losses.
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Four checks before you call a range the widest
- Count what you would trade. Pepperstone's headline totals disagree between pages, but its commodity figure is 40 everywhere it appears.
- Check the wrapper. A UK broker that offers a commodity only as a CFD gives you fewer tax choices than one that also offers it as a spread bet.
- Check the platform. On Pepperstone, Standard CFD accounts have no MT4 or TradingView access; Razor and spread-betting accounts have both.
- Check stop protection. Pepperstone's UK terms say it can't guarantee that stop-loss orders execute at your level, which matters on energy markets that gap.
Pepperstone commodity terms on a UK retail account
Published terms by account type. Spreads are Pepperstone's published minimums for spot gold, not averages.
| Spread betting | Standard CFD | Razor CFD | |
|---|---|---|---|
| Commodity markets | 40 | 40 | 40 |
| Spot gold minimum spread | 0.1 | 0.19 | 0.08 |
| Commission | None | None | From £2.25 per lot per side (GBP account) |
| Max retail leverage | Gold 1:20; other commodities 1:10 | Gold 1:20; other commodities 1:10 | Gold 1:20; other commodities 1:10 |
| Platforms | Web/app, MT4, MT5, TradingView, cTrader | Web/app, MT5, cTrader | Web/app, MT4, MT5, TradingView, cTrader |
Where Capital.com is the better call
Capital Com (UK) Limited is authorised by the FCA (793714) and, like Pepperstone, offers both spread betting and CFD accounts in the UK. Its retail leverage caps on commodities match Pepperstone's: 20:1 on gold and 10:1 on other commodities. Two differences matter. Capital.com offers guaranteed stop-loss orders, which Pepperstone does not, so if you trade energy markets through weekend gaps it is worth a look. And it runs on its web platform, app, MT4, MT5 and TradingView, but not cTrader. We hold no verified commodity count for it, so compare its market list directly before deciding on range alone.
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Gold and oil perpetuals are for professional clients only
Pepperstone has added perpetual CFDs, including gold, WTI and Brent contracts, to its FCA margin table. Its UK professional-client page states these are available to professional clients only. A retail UK account therefore gets the 40 standard commodity markets above, not the perpetual versions. Qualifying as a professional client also removes negative balance protection, so treat the extra products as a trade-off, not a free upgrade.
Sources
Figures as published by each broker on its own UK pages.
How many commodities can a UK client trade with Pepperstone?
40, according to its UK account tables (data sourced 12 March 2025). The figure is the same for spread betting and for the Standard and Razor CFD accounts.
Can I get a guaranteed stop on a commodity trade with Pepperstone?
No. Pepperstone does not publish a guaranteed stop-loss in the UK, and its terms say stop-loss orders cannot be guaranteed. Capital.com offers guaranteed stops.
What leverage applies to commodities on a UK retail account?
Up to 1:20 on gold and 1:10 on other commodities at Pepperstone; Capital.com publishes the same caps. Professional clients can get far higher leverage but lose negative balance protection.
CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage; Pepperstone says 73.6% of retail investor accounts lose money when trading spread bets and CFDs with it. Consider whether you can afford to take that risk. Nothing here is investment advice.