Transparent pricing. No surprises.
Find out about our spreads, commission, swap rates and leverage before you trade. Here are the highlights:
Razor-sharp spreads
Starting from 0.0 points on FX CFDs and 0.1 points on Spot Gold CFDs (XAUUSD) on a Razor account.1
Commission-free
No commission on index CFDs, FX CFDs (unless Razor FX) or commodity CFDs (unless Razor Gold).
No hidden fees
Zero fees for deposits or withdrawals2 and no fees to open or close an account.
Low minimum deposit
Minimum deposit of just £10.3 No barriers, no hefty upfront costs.
Razor-sharp spreads
Starting from 0.0 points on FX CFDs and 0.1 points on Spot Gold CFDs (XAUUSD) on a Razor account.1
Commission-free
No commission on index CFDs, FX CFDs (unless Razor FX) or commodity CFDs (unless Razor Gold).
No hidden fees
Zero fees for deposits or withdrawals2 and no fees to open or close an account.
Low minimum deposit
Minimum deposit of just £10.3 No barriers, no hefty upfront costs.
Direct costs
We use multiple liquidity providers from tier 1 banks and institutions, to give you the best possible prices on our wide range of markets.
We offer three main account types, with a slightly differing price structure:
Standard account
All CFD fees for FX, commodities and indices - apart from any overnight funding - are included in the spread, and there is no commission to pay. This provides a straightforward fee structure for newer traders or those seeking an easy-to-manage account.
Razor account
Offers identical trading conditions to our Standard account, including overnight funding fees but with commission-based pricing on forex and Spot Gold (XAU/USD). Clients can enjoy raw spreads from 0.0 on forex and from 0.1 on Spot Gold (XAU/USD), alongside fixed, transparent commission from £2.25 per lot, per side. ¹
Spread betting account
Available to UK residents, it offers a tax-efficient way to trade.⁴ There’s no commission to pay. Instead, you’ll pay a spread, which is built into the price of the instrument along with overnight fees on spot trading (no overnight fees on forwards).
Spreads
The spread is the difference between the bid (sell) and ask (buy) price. It’s usually measured in pips - the smallest unit of price movement in trading.
Symbol | Razor min spread | Standard min spread | Spread bet min spread |
GBPUSD | 0 | 1 | 0.9 |
EURUSD | 0 | 1 | 0.6 |
AUDUSD | 0 | 1 | 0.6 |
USDCAD | 0.1 | 1.1 | 1 |
USDCHF | 0 | 1 | 1 |
USDJPY | 0 | 1 | 0.7 |
Commission
Commission is a trading fee charged separately from the spread, which varies depending on your account type, platform and the market you’re trading.
If you trade on a Razor account, you’ll pay a fixed commission on each forex (FX) and Spot Gold (XAU/USD) trade. Standard CFD accounts do not charge commission on FX or Spot Gold trades. Instead, trading costs are included in the spread, with a 1-point mark-up on FX pairs. Spread betting accounts do not charge commission, with costs incorporated into the spread, plus any applicable overnight fees.
MetaTrader 4/5
For MT4/5, commission is based on your chosen account currency and the lot size of your trade. Commission on trades lower than 1 lot will be proportionally adjusted.
cTrader and TradingView
cTrader commission is calculated as 6 USD roundtrip per unit for FX and 7 USD round trip per unit for XAU/USD. TradingView commission is calculated as 7 USD roundtrip fixed per unit. If your trading account is not USD, it will be converted at spot rate in your account currency. Commission on trades lower than 1 lot will be proportionally adjusted.
Pepperstone platform
Commission on the Pepperstone platform is calculated as 3.5 USD per 1 standard FX lot per side. If your trading account is not in USD, the amount will be converted at the spot rate in your account currency. Commission on trades lower than 1 lot will be proportionally adjusted.
Trading account currency | Commission per 1 lot FX trade (100,000 base currency) | Commission per 1 lot XAU/USD trade (100,000 base currency) |
|---|---|---|
USD | USD 7 when position opened | USD 7 when position opened |
EUR | EUR 5.20 when position opened | EUR 5.20 when position opened |
GBP | GBP 4.50 when position opened | GBP 4.50 when position opened |
AUD | AUD 7 when position opened | AUD 7 when position opened |
SGD | SGD 9.10 when position opened | SGD 9.10 when position opened |
HKD | HKD 56.34 when position opened | HKD 56.34 when position opened |
For single stock equity CFDs, we charge a commission which is dependent on the market traded.
Share category | Commission per side (MT5, cTrader and TradingView) | Minimum commission |
|---|---|---|
Australia share CFDs | 0.07% | 0.01 AUD |
German share CFDs | 0.10% | 0.01 EUR |
Hong Kong share CFDs | 0.15% | No minimum commission |
UK share CFDs | 0.10% | 0.01 GBP |
US share and ETF CFDs | 0.02 USD per share | 0.02 USD |
| Click here for full details on all share CFDs |
Additional trading fees
These are charges that may apply, depending on the positions you hold.
Overnight funding (swap rates)
Swap rates reflect the fee you'll pay or receive for holding a position overnight, and may vary depending on the market you’re trading. You can view the latest swap rates directly on your trading platform or find out your estimated cost using the calculator below.
Swap calculator
Estimate the overnight funding charges on your positions. Select an instrument and enter your account currency and position size to see your estimated cost.*
Lot(s)
Results
Results
Type the instrument symbol or select one from the list, and enter your position size to see your estimated cost.
Type the instrument symbol or select one from the list, and enter your position size to see your estimated cost.
*This calculator is provided as an example only. The actual charges applied may be different. All figures are indicative and based on the inputs provided and Razor pricing. They may not fully account for slippage, weekend gaps, or other market factors. Swap rates are estimates and may change.
When an open position is rolled from Wednesday to Thursday for T+2 pairs on a trade-date basis, the new value date becomes the following Monday rather than Saturday. As a result, the swap/rollover applied on Wednesday evening will be three times the amount shown in the table. The same principle applies to T+1 pairs on a Thursday. This adjustment reflects how FX value dates roll over in the underlying market. Indices and stocks typically factor in weekend financing on a Friday.
When a holiday occurs, value dates roll forward following standard market conventions. A settlement date is valid for an FX transaction only if the central banks of both currencies are open. If either currency has a holiday on the intended settlement date, settlement is postponed to the next day when both central banks are open.
For example, if today is Wednesday and the GBPUSD value date would normally be Friday, but there is a USD holiday on the following Monday, then at 5pm New York time on Wednesday, the value date will roll from Friday to Tuesday (instead of Monday). It cannot roll to Monday because Monday is a holiday and no USD settlements will take place on that day. This results in a four-calendar-day rollover (4-day roll).
If the position remains open on Monday, that day counts as a 0-day roll. So the swap rate will be 0, meaning the position will neither earn nor incur a swap. The 0 day roll is variable and it may not always fall on the day of the bank holiday.
If you hold a position on one of our index or share CFDs past the ex-dividend date, we will make a cash adjustment to your trading account to reflect the dividend payment. This means you’ll neither be advantaged or disadvantaged by the dividend.
Account maintenance and inactivity fees
We don’t charge any account keeping or inactivity fees. However, to free up space on our servers, we may archive accounts that hold less than ten units of currency and have not been used to trade for three or more months. This enables us to provide the best possible trading conditions for all active clients.
Archived accounts can be reactivated upon request, or you can create a new live account by logging into your secure client area and selecting ‘Add a trading account’.
Leverage
Asset class | Leverage |
Major currency pairs | 30:1 |
Major indices, minor currency pairs, gold | 20:1 |
Commodities (excluding gold) | 10:1 |
Shares | 5:1 |
FAQs
We do not charge additional fees for deposits or withdrawals unless you withdraw funds using a bank wire transaction to an international bank account. In this case, we’ll deduct 15 GBP from your trading account balance – so you must have more than 15 GBP in your account to proceed.
Swap charges (or credits) are rollover interest rates that are earned or paid for holding positions overnight. We apply them on positions held past 5pm New York time (server time). The exact calculation depends on the instrument you are trading.
On both our account types, you’ll pay commission when trading CFDs on shares, ranging from 0.07% to 0.20% per side. On a Razor account, you’ll also pay fixed, transparent commission from £2.25 per lot, per side when trading Forex and Spot Gold (XAU/USD) CFDs.
If you hold a position on an ex-dividend date, your account will be adjusted to reflect the dividend amount.
Yes, negative balance protection is a regulatory protection for retail traders. If your account falls into a negative balance, we will return it to zero as soon as possible.
Ready to trade better?
Switch to Pepperstone now and join our global community of over 900,000 traders*. Apply in minutes with our simple application process.
Register
Sign up with your email address and get a free demo.
Answer
We’ll check whether our products are appropriate for you.
Verify
Your safety is our top priority.
Fund
That’s it! You’re ready to trade.
1Available on our Razor account. Varies by instrument. Other fees and charges may apply.
2 You may be charged for withdrawals to international banks.
3 No minimum deposit for bank wire transfers.
4In the UK, spread betting profits are exempt from capital gains tax. Please be aware that tax treatment depends on your individual circumstances and tax law may be subject to change.
*Total number of accounts held with the Pepperstone Group globally, correct as at 1 March 2026.