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Broker costs for gold and metals

8 brokers · 21 accounts · 29 regulated entities · checked 20 Sep 2026

Factual information, not advice. Every company is measured the same way, against published criteria. Nothing here recommends a firm, plan or trade, or knows your circumstances.

Cost in dollarsOne market at a time. Lower is cheaper.

What a month of gold trading costs

40 round turns a month, flat by the close. Still all spread and commission. One lot of gold ($428,620 of metal).

17 of 21accounts publish a gold spread nobody can compare. Why?

The broker prints a number with no unit, or calls it “pips” without saying what a gold pip is, so the same figure could mean $1.20 or $12 a lot. We show what they published and leave it out of the ranking.

Brokers ranked3 of 8publish enough to cost gold
Cheapest a month$600Tickmill
Most expensive$760Pepperstone
Trading styleIntradaychange it above
Cheapest on gold$600/ mo
TickmillRaw Account
1:1000 to 1:10 by size · FSA (Seychelles)Raw plus commission
Gold spread$0.09 an ounce$15 a round turn
Show the maths

How the intraday cost is worked out

Spread$0.09 an ounce × 100 oz$9

Commission, round turn$6

One round turn$15

Intraday trades a month40

Gold Cost Index · one lot a month$600

See Tickmill costs
#2$640/ mo
IC MarketsRaw Spread
1:2000 to 1:100 by size · FSA (Seychelles)Raw plus commission
Gold spread$0.09 an ounce$16 a round turn
Show the maths

How the intraday cost is worked out

Spread$0.09 an ounce × 100 oz$9

Commission, round turn$7

One round turn$16

Intraday trades a month40

Gold Cost Index · one lot a month$640

See IC Markets costs
#3$760/ mo
PepperstoneRazor
1:200 · SCB (Bahamas)Raw plus commission
Gold spread$0.12 an ounce$19 a round turn
Show the maths

How the intraday cost is worked out

Spread$0.12 an ounce × 100 oz$12

Commission, round turn$7

One round turn$19

Intraday trades a month40

Gold Cost Index · one lot a month$760

See Pepperstone costs

Monthly cost = spread and commission on every trade, plus overnight swap. 3 of 8 brokers publish enough to work it out. Leverage depends on which regulated company you sign up with. How we rank

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