Every figure on this page links to the Pepperstone page it came from. Where Pepperstone publishes nothing, we say so and score it zero.
One benchmark instrument per market, in Pepperstone's own units and on its own basis. Metals are below.
| Razor | 0.1 pips spreadaverage over 01/08/2026–31/08/2026, all sessions incl. rollover; minimum 0 | $7 commission, round turn | SourceHide source“Symbol | Razor Min Spread | Razor Avg Spread | Standard Min Spread | Standard Avg Spread … EURUSD | 0 | 0.1 | 1 | 1.1 … 1 All spreads are generated from data between 01/08/2026 and 31/08/2026, covering all trading sessions, including rollover periods.” |
|---|---|---|---|
| Standard | 1.1 pips spreadaverage over 01/08/2026–31/08/2026, all sessions incl. rollover; minimum 1 | No commission | SourceHide source“EURUSD | 0 | 0.1 | 1 | 1.1 (Razor Min / Razor Avg / Standard Min / Standard Avg) … 1 All spreads are generated from data between 01/08/2026 and 31/08/2026, covering all trading sessions, including rollover periods.” |
| Leverage · SCB (Bahamas) | 1:200 | SourceHide source“Under our SCB licence … Asset class | Max retail leverage | Max pro leverage — FX | 1:200 | 1:500 · Gold | 1:200 | 1:500 · Metals | 1:10 | 1:50 · Commodities (excluding gold) | 1:50 | 1:50 · Major indices | 1:200 | 1:500 · Stocks | 1:20 | 1:20 · BTC/USD | 1:20 | 1:500” | |
| Leverage · FCA | 1:30 | SourceHide source“Asset class | Leverage — Major currency pairs | 1:30 · Major indices | 1:20 · Gold | 1:20 · Commodities (excluding gold) | 1:10 · Shares | 1:5” | |
| Leverage · CySEC | 1:30EU page gives it as 30:1 for major currency pairs. | SourceHide source“Asset class | Leverage — Major currency pairs | 30:1 · Major indices, minor currency pairs, gold | 20:1 · Commodities (excluding gold), minor indices | 10:1 · Shares | 5:1 · Cryptocurrencies | 2:1” | |
| Leverage · ASIC | 1:30 | SourceHide source“Asset class | Max retail leverage | Max pro leverage — Margin FX major | 1:30 | 1:500 · Major index CFDs | 1:20 | 1:400 · Gold CFDs | 1:20 | 1:500 · Metal CFDs | 1:10 | 1:10 · Energy CFDs | 1:10 | 1:20 · BTCUSD & ETHUSD CFDs | 1:2 | 1:10 · Share CFDs & ETF CFDs | 1:5 | 1:20” | |
| Razor | 0.4 points spreadaverage over August 2026 (minimum also 0.4) | No commission | SourceHide source“Symbol | CFD trading (Razor) | CFD trading (Standard) — Min Spread | Ave Spread | Min Spread | Ave Spread … US500 | 0.4 | 0.4 | 0.4 | 0.4 … 2All spreads generated from data between 01/08/2026 and 31/08/2026” |
|---|---|---|---|
| Standard | 0.4 points spreadaverage over August 2026 (minimum also 0.4) | No commission | SourceHide source“US500 | 0.4 | 0.4 | 0.4 | 0.4 (Razor Min / Razor Ave / Standard Min / Standard Ave) … 2All spreads generated from data between 01/08/2026 and 31/08/2026” |
| Leverage · SCB (Bahamas) | 1:200Leverage is given for 'major indices'; the page does not list which indices count as major, so US500's classification is inferred. | SourceHide source“Under our SCB licence … Asset class | Max retail leverage | Max pro leverage — FX | 1:200 | 1:500 · Gold | 1:200 | 1:500 · Metals | 1:10 | 1:50 · Commodities (excluding gold) | 1:50 | 1:50 · Major indices | 1:200 | 1:500 · Stocks | 1:20 | 1:20 · BTC/USD | 1:20 | 1:500” | |
| Leverage · FCA | 1:20Leverage is given for 'major indices'; the page does not list which indices count as major, so US500's classification is inferred. | SourceHide source“Asset class | Leverage — Major currency pairs | 1:30 · Major indices | 1:20 · Gold | 1:20 · Commodities (excluding gold) | 1:10 · Shares | 1:5” | |
| Leverage · CySEC | 1:20Leverage is given for 'major indices'; the page does not list which indices count as major, so US500's classification is inferred. | SourceHide source“Asset class | Leverage — Major currency pairs | 30:1 · Major indices, minor currency pairs, gold | 20:1 · Commodities (excluding gold), minor indices | 10:1 · Shares | 5:1 · Cryptocurrencies | 2:1” | |
| Leverage · ASIC | 1:20Leverage is given for 'major indices'; the page does not list which indices count as major, so US500's classification is inferred. | SourceHide source“Asset class | Max retail leverage | Max pro leverage — Margin FX major | 1:30 | 1:500 · Major index CFDs | 1:20 | 1:400 · Gold CFDs | 1:20 | 1:500 · Metal CFDs | 1:10 | 1:10 · Energy CFDs | 1:10 | 1:20 · BTCUSD & ETHUSD CFDs | 1:2 | 1:10 · Share CFDs & ETF CFDs | 1:5 | 1:20” | |
| Razor | 2.5 (no unit given) spreadaverage over August 2026; minimum 2 | No commission | SourceHide source“Energies — Symbol | Razor Min Spread | Razor Avg Spread | Standard Min Spread | Standard Avg Spread … SpotBrent | 2.2 | 3.3 | 2.2 | 3.3 · SpotCrude | 2 | 2.5 | 2 | 2.5” |
|---|---|---|---|
| Standard | 2.5 (no unit given) spreadaverage over August 2026; minimum 2 | No commission | SourceHide source“SpotCrude | 2 | 2.5 | 2 | 2.5 (Razor Min / Razor Avg / Standard Min / Standard Avg)” |
| Leverage · SCB (Bahamas) | 1:50'Commodities (excluding gold)' row. | SourceHide source“Under our SCB licence … Asset class | Max retail leverage | Max pro leverage — FX | 1:200 | 1:500 · Gold | 1:200 | 1:500 · Metals | 1:10 | 1:50 · Commodities (excluding gold) | 1:50 | 1:50 · Major indices | 1:200 | 1:500 · Stocks | 1:20 | 1:20 · BTC/USD | 1:20 | 1:500” | |
| Leverage · FCA | 1:10'Commodities (excluding gold)' row. | SourceHide source“Asset class | Leverage — Major currency pairs | 1:30 · Major indices | 1:20 · Gold | 1:20 · Commodities (excluding gold) | 1:10 · Shares | 1:5” | |
| Leverage · CySEC | 1:10'Commodities (excluding gold), minor indices' row. | SourceHide source“Asset class | Leverage — Major currency pairs | 30:1 · Major indices, minor currency pairs, gold | 20:1 · Commodities (excluding gold), minor indices | 10:1 · Shares | 5:1 · Cryptocurrencies | 2:1” | |
| Leverage · ASIC | 1:10'Energy CFDs' row; pro 1:20. | SourceHide source“Asset class | Max retail leverage | Max pro leverage — Margin FX major | 1:30 | 1:500 · Major index CFDs | 1:20 | 1:400 · Gold CFDs | 1:20 | 1:500 · Metal CFDs | 1:10 | 1:10 · Energy CFDs | 1:10 | 1:20 · BTCUSD & ETHUSD CFDs | 1:2 | 1:10 · Share CFDs & ETF CFDs | 1:5 | 1:20” | |
| Razor | 15.15 (no unit given) spreadaverage over August 2026; minimum 10 | No commission | SourceHide source“Symbol | Razor Min Spread | Razor Avg Spread | Standard Min Spread | Standard Avg Spread | BTCUSD | 10 | 15.15 | 10 | 15.15 … 1 All spreads are generated from data between 01/08/2026 and 31/08/2026, covering all trading sessions, including rollover periods. (This will be updated regularly.)” |
|---|---|---|---|
| Standard | 15.15 (no unit given) spreadaverage over August 2026; minimum 10 | No commission | SourceHide source“BTCUSD | 10 | 15.15 | 10 | 15.15 (Razor Min / Razor Avg / Standard Min / Standard Avg)” |
| Leverage · SCB (Bahamas) | 1:20'BTC/USD' row, pro 1:500. The crypto spreads page separately shows a pro-only tiered schedule starting at 400:1. | SourceHide source“Under our SCB licence … Asset class | Max retail leverage | Max pro leverage — FX | 1:200 | 1:500 · Gold | 1:200 | 1:500 · Metals | 1:10 | 1:50 · Commodities (excluding gold) | 1:50 | 1:50 · Major indices | 1:200 | 1:500 · Stocks | 1:20 | 1:20 · BTC/USD | 1:20 | 1:500” | |
| Leverage · FCA | Not publishedThe UK leverage table lists no crypto row; crypto CFDs are not offered to UK retail clients under FCA rules, but Pepperstone's UK page does not say so explicitly — recorded as not published. | Not published | |
| Leverage · CySEC | 1:2'Cryptocurrencies' row. | SourceHide source“Asset class | Leverage — Major currency pairs | 30:1 · Major indices, minor currency pairs, gold | 20:1 · Commodities (excluding gold), minor indices | 10:1 · Shares | 5:1 · Cryptocurrencies | 2:1” | |
| Leverage · ASIC | 1:2'BTCUSD & ETHUSD CFDs' row; pro 1:10. | SourceHide source“Asset class | Max retail leverage | Max pro leverage — Margin FX major | 1:30 | 1:500 · Major index CFDs | 1:20 | 1:400 · Gold CFDs | 1:20 | 1:500 · Metal CFDs | 1:10 | 1:10 · Energy CFDs | 1:10 | 1:20 · BTCUSD & ETHUSD CFDs | 1:2 | 1:10 · Share CFDs & ETF CFDs | 1:5 | 1:20” | |
| Razor | Spread not published | Commission not published | SourceHide source“When trading share CFDs, you trade on the underlying exchange prices with no mark-up on the market bid/offer spread. Instead, you’ll pay a small commission per trade (usually a percentage of the position value).” |
|---|---|---|---|
| Standard | Spread not published | Commission not published | SourceHide source“When trading share CFDs, you trade on the underlying exchange prices with no mark-up on the market bid/offer spread.” |
| Leverage · SCB (Bahamas) | 1:20'Stocks' row, retail and pro both 1:20. | SourceHide source“Under our SCB licence … Asset class | Max retail leverage | Max pro leverage — FX | 1:200 | 1:500 · Gold | 1:200 | 1:500 · Metals | 1:10 | 1:50 · Commodities (excluding gold) | 1:50 | 1:50 · Major indices | 1:200 | 1:500 · Stocks | 1:20 | 1:20 · BTC/USD | 1:20 | 1:500” | |
| Leverage · FCA | 1:5 | SourceHide source“Asset class | Leverage — Major currency pairs | 1:30 · Major indices | 1:20 · Gold | 1:20 · Commodities (excluding gold) | 1:10 · Shares | 1:5” | |
| Leverage · CySEC | 1:5 | SourceHide source“Asset class | Leverage — Major currency pairs | 30:1 · Major indices, minor currency pairs, gold | 20:1 · Commodities (excluding gold), minor indices | 10:1 · Shares | 5:1 · Cryptocurrencies | 2:1” | |
| Leverage · ASIC | 1:5'Share CFDs & ETF CFDs' row; pro 1:20. | SourceHide source“Asset class | Max retail leverage | Max pro leverage — Margin FX major | 1:30 | 1:500 · Major index CFDs | 1:20 | 1:400 · Gold CFDs | 1:20 | 1:500 · Metal CFDs | 1:10 | 1:10 · Energy CFDs | 1:10 | 1:20 · BTCUSD & ETHUSD CFDs | 1:2 | 1:10 · Share CFDs & ETF CFDs | 1:5 | 1:20” | |
Razor is 0.12 plus $7 round turn, Standard is 0.19 with no commission, and Pepperstone says the total cost of the two is the same. The 0.07 between them must be that $7 on a 100-ounce lot, so the figures are US$ per ounce: 0.12 is $12 a lot. Pepperstone is the only broker here that states the period its averages cover, which makes them the most checkable figures on this page.
“Symbol | Razor Min Spread | Razor Avg Spread | Standard Min Spread | Standard Avg Spread — Spot Gold | 0.08 | 0.12 | 0.15 | 0.19”
“2 All spreads are generated from data between 01/08/2026 and 31/08/2026, covering all trading sessions, including rollover periods.”
“Is gold more expensive to trade on Razor than a standard account? No. The total cost of trading gold on Razor is broadly equal to trading on a standard account.”
“We don't charge commission on commodity CFDs except for Spot Gold (XAU/USD) CFDs traded on a Razor account.”
“Your total trading cost consists of two parts: - The raw market spread, which can be as low as 0.08 points - A fixed commission of $3.50, charged per lot, per side”
The rates are on the platform only.
“Metal commodity CFDs * — Daily swap charge / credit = one point x (trade size [or notional amount] x tom-next). *Metal swaps are calculated in the same way as FX swaps.”
“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.”
Razor is 0.12 plus $7 round turn, Standard is 0.19 with no commission, and Pepperstone says the total cost of the two is the same. The 0.07 between them must be that $7 on a 100-ounce lot, so the figures are US$ per ounce: 0.12 is $12 a lot.
“Spot Gold | 0.08 | 0.12 | 0.15 | 0.19 (Razor Min / Razor Avg / Standard Min / Standard Avg)”
“2 All spreads are generated from data between 01/08/2026 and 31/08/2026, covering all trading sessions, including rollover periods.”
“We don't charge commission on commodity CFDs except for Spot Gold (XAU/USD) CFDs traded on a Razor account.”
The rates are on the platform only.
“Metal commodity CFDs * — Daily swap charge / credit = one point x (trade size [or notional amount] x tom-next). *Metal swaps are calculated in the same way as FX swaps.”
“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.”
“How it works — Take a 100 lot XAUUSD position at a current price of USD 4,346: Contract size — 1 lot = 100oz | Position size — 100 lots = 10,000 oz”
“While you can typically trade from as low as 0.01 lots, both the minimum and maximum trade sizes are not fixed and may differ across instruments.”
Server time is GMT+3 through US daylight saving and GMT+2 outside it. Pepperstone also publishes a dated holiday calendar with early closes specific to gold.
“Commodities / Metals — Gold | 01:01 - 23:59 | 01:01 - 23:59 | 01:01 - 23:55 | Closed | Closed”
“Yes, hedging trades are allowed. If you hedge a Contract, we'll calculate the amount of Margin required for based on the 'largest leg' of your Contract.”
Leverage on gold is set by the company you are actually onboarded to, not by the brand. A broker can offer 1:1000 through one entity and a fraction of that through another, for the same instrument on the same day.
Gold is set apart from the other metals, which get 1:10 — a twentyfold difference inside the same asset class.
“Under our SCB licence … Asset class | Max retail leverage | Max pro leverage — FX | 1:200 | 1:500 · Gold | 1:200 | 1:500 · Metals | 1:10 | 1:50 · Commodities (excluding gold) | 1:50 | 1:50”
“Gold | 1:200 | 1:500 (Max retail leverage | Max pro leverage)”
“Asset class | Leverage — Major currency pairs | 1:30 · Major indices | 1:20 · Gold | 1:20 · Commodities (excluding gold) | 1:10 · Shares | 1:5”
“Major indices, minor currency pairs, gold | 20:1 · Commodities (excluding gold), minor indices | 10:1”
“Under our ASIC licence, the amount of leverage you can trade with depends on whether you're a retail or professional client. … Gold CFDs | 1:20 | 1:500”
“Gold CFDs | 1:20 | 1:500”
A broker is holding your own money rather than paying you a share of profit, so the only question is how easily it comes back.
PER-ENTITY DIFFERENCE. Pepperstone Markets Limited (Bahamas, the /en/ global site) charges USD 20 for an international bank withdrawal; everything else is free. Pepperstone Limited (FCA/UK) and Pepperstone Group Limited (ASIC/AU) publish no withdrawal fee at all, including on international bank transfer.
“Pepperstone charges withdrawal fees only for international bank withdrawals. If you choose to withdraw funds to an international bank, we will deduct $20 from your trading account balance. However, please note that your bank or payment provider may apply their own charges.”
“Withdrawals processed via Apple Pay, Google Pay, debit and credit cards, Neteller, Skrill, PayPal, UPOP(Union Pay), crypto and local payment methods take up to 1 business day. Bank transfer withdrawals can take up to 7 business days.”
“Withdrawals processed via Apple Pay, Google Pay, debit and credit cards, Neteller, Skrill, PayPal, UPOP(Union Pay), crypto and local payment methods take up to 1 business day. Bank transfer withdrawals can take up to 7 business days.”
“If you request a withdrawal on the weekend or on a public holiday, it may take longer to arrive, as Pepperstone only processes withdrawals on working days.”
“Submit your withdrawal request. Approve the request via the confirmation email sent to your registered address. If you have Two-Factor Authentication (2FA) enabled, enter the code from your Authenticator app to confirm the withdrawal.”
How easily your own money comes back, scored separately from what gold costs here.
The client pays.
up to 1 business day for cards and e-wallets, up to 7 business days for bank transfer (global site); the Terms and the support FAQ both say up to 3 business days for Pepperstone to process the request
15 published methods.
The broker publishes nothing either way.
4.2 from 3,617 reviews, the company solicits reviews through a paid subscription.
Charges for leaving the account alone scores zero because the firm publishes nothing we could read. Nothing is filled in with a guess.
This score is about getting paid, not about trading rules. It is never averaged into the Freedom Score: a firm can have the most generous rules on the board and still be the hardest place to get money out of.
Pepperstone pays for a Trustpilot subscription and asks its own customers to review it. That is disclosed and allowed, but it means the score rests on a company-driven stream rather than on unprompted feedback. 16% of all its reviews were posted in the last year.
Every figure comes from Pepperstone’s own pages, quoted above with a link. Tracked since 20 Sep 2026.
Figures here are from the global site unless a row says otherwise. Pepperstone also holds BaFin, DFSA, UAE CMA and Kenyan CMA licences that publish no gold-specific leverage, and those entities are left out rather than listed with nothing in them.
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
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
Where the broker published a figure at all, we print it in the broker's own units and leave it there. Converting an undefined unit would mean guessing, and a guess here changes the answer by a factor of ten.
