Trading accounts
Our three account types have been designed to help the active trader achieve more. Whatever your trading strategy or level of experience, you’ll find an account to align with your goals.
What account types are available?
We offer one Spread betting account and two CFD accounts – Standard and Razor. You can access them via our in-house platform and app, or via our seamless integrations with leading third-party technology.
While Spread betting and CFDs are very similar, there are some key differences to understand.
Why choose a spread betting account?
A Spread betting account might be suitable for you if you want flexible, tax-efficient trading with leveraged exposure and no direct asset ownership.
Tax-free profits
Spread betting is classed as gambling by the UK and some other tax authorities, so profits are exempt from UK capital gains tax and stamp duty. This type of account can be highly attractive to those seeking to maximise any potential returns without additional tax obligations.1
Full market exposure with less capital
Open positions using a margin deposit instead of the full value of the trade. Leverage increases both potential gains and losses, so manage your risk carefully.
Tax-free profits
Spread betting is classed as gambling by the UK and some other tax authorities, so profits are exempt from UK capital gains tax and stamp duty. This type of account can be highly attractive to those seeking to maximise any potential returns without additional tax obligations.1
Full market exposure with less capital
Open positions using a margin deposit instead of the full value of the trade. Leverage increases both potential gains and losses, so manage your risk carefully.
Full market exposure with less capital
Open positions using a margin deposit instead of the full value of the trade. Leverage increases both potential gains and losses, so manage your risk carefully.
Tax-free profits
Spread betting is classed as gambling by the UK and some other tax authorities, so profits are exempt from UK capital gains tax and stamp duty. This type of account can be highly attractive to those seeking to maximise any potential returns without additional tax obligations.1
GBP-denominated trading
To avoid currency risk and any charges associated with converting your trading currency to your base account currency, your stake is always in pounds per point.
No commission
Our spread betting fees are wrapped into a ‘spread’ around the underlying market price, ensuring full visibility and offering a cost-effective way to capitalise on market movements.
GBP-denominated trading
To avoid currency risk and any charges associated with converting your trading currency to your base account currency, your stake is always in pounds per point.
No commission
Our spread betting fees are wrapped into a ‘spread’ around the underlying market price, ensuring full visibility and offering a cost-effective way to capitalise on market movements.
No commission
Our spread betting fees are wrapped into a ‘spread’ around the underlying market price, ensuring full visibility and offering a cost-effective way to capitalise on market movements.
GBP-denominated trading
To avoid currency risk and any charges associated with converting your trading currency to your base account currency, your stake is always in pounds per point.
Why choose a CFD account?
A CFD account might be suitable for you if you want a product that closely mimics traditional trading without buying the underlying market outright.
Full market exposure with less capital
Open positions using a margin deposit instead of the full value of the trade. Leverage increases both potential gains and losses, so manage your risk carefully.
Trade in the currency of the CFD
Capitalise on market movements between the currency of the trade and of your base account.
Full market exposure with less capital
Open positions using a margin deposit instead of the full value of the trade. Leverage increases both potential gains and losses, so manage your risk carefully.
Trade in the currency of the CFD
Capitalise on market movements between the currency of the trade and of your base account.
Trade in the currency of the CFD
Capitalise on market movements between the currency of the trade and of your base account.
Full market exposure with less capital
Open positions using a margin deposit instead of the full value of the trade. Leverage increases both potential gains and losses, so manage your risk carefully.
Tax loss offset and portfolio hedging
Offset losses against profits for tax purposes and reduce your overall taxable
gains.1 Hedge your portfolio against market downturns and manage risk proactively.
Trade multiple assets from a single account
Access the price movements of shares, forex, commodities and ETFs along with markets that can’t be bought outright – such as whole indices.
Tax loss offset and portfolio hedging
Offset losses against profits for tax purposes and reduce your overall taxable
gains.1 Hedge your portfolio against market downturns and manage risk proactively.
Trade multiple assets from a single account
Access the price movements of shares, forex, commodities and ETFs along with markets that can’t be bought outright – such as whole indices.
Trade multiple assets from a single account
Access the price movements of shares, forex, commodities and ETFs along with markets that can’t be bought outright – such as whole indices.
Tax loss offset and portfolio hedging
Offset losses against profits for tax purposes and reduce your overall taxable
gains.1 Hedge your portfolio against market downturns and manage risk proactively.
What’s the difference between Standard and Razor CFD accounts?
Whatever account you choose, our transparent pricing, competitive spreads and client-focused approach set us apart.
Standard account
All fees – apart from any overnight funding – are already included in the spread, and there is no commission to pay except on share CFDs. 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, but with raw spread + fixed commission pricing on forex and Spot Gold (XAU/USD). Get raw spreads from 0.0 on FX and 0.1 on XAU/USD, ² alongside fixed, transparent commission from £2.25 per lot, per side. Ideal for active FX and XAU/USD traders seeking greater control over costs.
At a glance: Compare our account types
You can hold multiple live accounts of both types simultaneously and switch between them according to your strategy.
Account type | Spread betting | CFD trading (Razor and Standard) |
What is it? | Placing a monetary stake per point of movement in a financial market. | Trading the price difference between the opening and closing of a contract. |
Is this account leveraged?
| Yes | Yes |
Do I pay tax on potential profits? | No, you won’t pay capital gains tax (CGT) or stamp duty.1 | You won’t pay stamp duty, but you’ll need to pay capital gains tax (CGT). However, losses can be offset as a tax deduction for CGT.1 |
Which markets can I trade? | 1350+ markets including shares, indices, forex, commodities and more. | 1350+ markets including shares, indices, forex, commodities and more. |
Suitable for hedging?
| Yes | Yes |
Which platforms are available? | Pepperstone’s web platform and mobile app, MT5, MT4, TradingView and cTrader. | Pepperstone’s web platform and mobile app, MT5, MT4, TradingView (only for Razor) and cTrader.
|
What are the risks? | Spread betting is leveraged, so you put up a percentage of the deal size to open a position. Your profit or loss will be based on the full position size, so your profits or losses will be amplified. Managing your risk is key. | CFD trading is leveraged, so you put up a percentage of the trade size to open a position. Your profit or loss will be based on the full position size, so your profits or losses will be amplified. Managing your risk is key. |
What is the minimum funding amount?
| £10 | £10 |
What are the costs?
| Spread betting | CFD trading (Standard) | CFD trading (Razor) |
Spreads and commission* | You’ll pay a spread on all markets, wrapped around the market price, along with overnight fees on spot trading (no overnight fees on forwards). There’s no commission to pay. | Variable spreads on FX, indices and commodities, starting from just 0.4 points on the US500. No commission except on shares, starting at just 0.1% per side on UK and European share CFDs.
| FX and Spot Gold (XAU/USD) pricing uses a raw spread + fixed commission model, with commission from £2.25 per lot, per side. Spreads are raw (from 0.0 on FX and 0.1 on Spot Gold). All other markets are charged in the same way as a Standard account. |
Overnight funding (swap rate) | Market rate (latest rates displayed on the platform) | Market rate (latest rates displayed on the platform) | Market rate (latest rates displayed on the platform) |
Admin charges/market data fees/anything else | None | None | None |
* If you trade 0.01 lots on our Razor account, please note that commission will round up to $0.030 per 0.01 lot. MetaTrader 4 commission is calculated for both sides of the transaction upfront and then charged upon opening the trade.
You can find a full breakdown of our costs and charges here.
How many instruments can I trade on each account?
You can trade a wide range of instruments on any of our accounts.
| Spread betting | CFD (Standard) | CFD (Razor) |
Total number of instruments | 1432 | 1444 | 1444 |
Forex | 91 | 93 | 93 |
Indices | 26 | 26 | 26 |
Commodities | 40 | 40 | 40 |
Shares | 1162 | 1162 | 1162 |
ETFs | 95 | 95 | 95 |
Number of markets can vary. Data was sourced on 12 March 2025.
Protecting your trading capital
Our three account types have been designed to help the active trader achieve more. Whatever your trading strategy or level of experience, you’ll find an account to align with your goals.
Stop-losses
Set where your position will close if the market moves against you. Specify by price or pips and view your estimated loss.*
Trailing stops
Follow favourable market moves at a set distance and protect potential gains if the market reverses.*
Take-profits
Set a target price to close your position automatically if the market moves in your favour.*
Alerts
Set alerts for specific conditions with descriptions and expirations and get notified in-platform.
Stop-losses
Set where your position will close if the market moves against you. Specify by price or pips and view your estimated loss.*
Trailing stops
Follow favourable market moves at a set distance and protect potential gains if the market reverses.*
Take-profits
Set a target price to close your position automatically if the market moves in your favour.*
Alerts
Set alerts for specific conditions with descriptions and expirations and get notified in-platform.
*Please note that these mechanisms cannot be guaranteed due to market volatility and unforeseen events.
Why trade with Pepperstone?
Switch to a broker who truly understands what traders need, combining flexible accounts, competitive pricing, powerful platforms, and a trusted trading environment.
Range of accounts
Swing trader, scalper, or something else? Choose an account to suit your priorities.
Tight spreads
Starting from 0.0 points on FX CFDs and 0.1 points on spot gold CFDs (XAUUSD) on a Razor account.²
Five elite platforms
Use our native Pepperstone platform and app, or connect to MT4, MT5, TradingView or cTrader.
Trusted globally
Join over 830,000 traders around the world, processing a monthly trading volume of US$1tn.³
Range of accounts
Swing trader, scalper, or something else? Choose an account to suit your priorities.
Tight spreads
Starting from 0.0 points on FX CFDs and 0.1 points on spot gold CFDs (XAUUSD) on a Razor account.²
Five elite platforms
Use our native Pepperstone platform and app, or connect to MT4, MT5, TradingView or cTrader.
Trusted globally
Join over 830,000 traders around the world, processing a monthly trading volume of US$1tn.³
Support when you need it
Our friendly support team is available 24 hours on weekdays and 18 hours on weekends. Contact us via email, call, WhatsApp, or live chat for help with accounts, funding, withdrawals, and more.
FAQs
We offer three account options: spread betting, Standard and Razor. The spread betting account offers a tax-efficient1 and commission-free way to trade. A Standard account provides a straightforward fee structure with all fees (apart from any overnight funding) being already included in the spread and no commission, and the Razor account features raw spreads with competitive commissions.
You can open multiple accounts simultaneously under a single client profile.
- Standard account: Spread-based trading with no commission, ideal for traders who prefer simplicity.
- Razor account: Offers raw spreads with low, transparent commissions, making it suitable for high-frequency traders, scalpers, and those who want greater control over trading costs.
Both accounts give access to the same instruments and platforms; the main difference is how spreads and commissions are structured.
Yes, you can switch between account types easily through your secure client area.
We keep things transparent, so you’ll know which fees you’re liable for upfront. We don’t charge an inactivity fee, and if this ever changes, we will provide advanced notice in line with our terms and conditions. There are no market-data fees.
Our Standard account displays all-in spreads and clearly shows overnight funding and swap charges in the instrument specifications.
You can connect your account to several in-house and third-party platforms. These include:
The Pepperstone platform and mobile app: Get to the markets fast and enjoy a secure and streamlined trading experience on our in-house web-based platform and mobile app.
- TradingView: Access advanced charting tools and built-in indicators. Join a social network of 100 million traders across the world. Not available on a Standard CFD account.
- MT4: Trade CFDs on the world’s most popular FX platform, with robust charting tools and customisable interface.
- MT5: Find more features, more flexibility, and more opportunities to optimise your algorithms in the latest version of MetaTrader.
- cTrader: Enjoy a streamlined interface for developing trading robots and custom indicators that can help automate your strategies .
Find out more on our platforms page.
We offer over 2700+ spread bets and CFDs on global markets, including forex, indices, shares, commodities and ETFs. All markets are available across all of our trading accounts.
When you’re searching for a market on one of our integrated platforms such as MT4, you may see market symbols listed with certain suffixes such as:
EURUSD_SB
EURUSD.r
Please note the _SB suffix denotes a spread betting market, so you can only trade it on a spread betting account. The .r suffix denotes a retail CFD market, so you can trade it on a Standard or a Razor CFD account.
Overnight funding, also called the swap rate, is the fee you pay or earn for keeping your CFD positions or spread bets open past 11:59 pm server time (5 pm New York time). We’ll make an interest adjustment to your account to reflect the costs we bear for holding your position through to the next trading day. You won’t pay overnight funding on futures or forwards, as the cost is included in a wider spread.
For full details, please visit our pricing page. You can also view our latest swap rates directly on your trading platform. Note that rates are subject to change depending on market volatility.
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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 some questions
We’ll check whether our products are appropriate for you.
Verify your identity
Your safety is our top priority.
Add some funds
That’s it! You’re ready to trade.
Ready to trade with Pepperstone?
1In the UK, spread betting and CFD 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.
2Razor account min spreads from 0 pips. Vary by instrument. Other fees & charges apply
*Data for the Pepperstone Group, correct as at 1 March 2026.