Pick your path. Trade gold, your way.

Whether you're looking for flexibility or diversification, you can choose from three different types of gold CFDs - spot, forward or ETF - all from one Pepperstone account.

Trade now

One market. 3 ways in. Which is right for you?

Understand each product and how it gives you access to the gold market without owning the metal.

Spot CFDs

Take a position on the current cash (spot) price of gold.

Gold CFDs closely track the price movements of the gold market, allowing you to trade both rising and falling prices.

Forward CFDs

Take a longer-term view on gold by trading at the front-month futures price.

Overnight costs are included in the spread, with positions automatically rolled into the next contract month at expiry.

ETF CFDs

Gain exposure to the gold market through CFDs based on exchange-traded funds (ETFs).

Gold ETF CFDs offer access to a broader range of gold-related assets, including miners and physical gold funds.

Whichever product you choose, you'll get tight spreads, deep liquidity and fast execution on every trade. Conditions may vary during periods of high volatility.

Compare your gold trading routes

Explore the similarities and differences between the three products and pick the one that suits your gold trading strategy.

Feature	Spot Gold CFDs	Gold forward CFDs	Gold ETF CFDs
What you trade	Price movements in Spot Gold.	Price movements in front-month gold futures.	Price movements in gold-related exchange-traded funds.
Underlying ownership	✕	✕	✕
Leverage *Leverage can magnify both potential profits and losses.	✓	✓	✓
Market direction	Go long or short.	Go long or short.	Go long or short.
Account availability	Standard and Razor CFD accounts.¹	Standard and Razor CFD accounts.¹	Standard and Razor CFD accounts.¹
Platform availability	MT4, MT5, cTrader, TradingView and the Pepperstone platform and app.	MT4, MT5, cTrader, TradingView and the Pepperstone platform and app.	MT5, cTrader, TradingView and the Pepperstone platform and app.
Pricing model	Standard: Costs included in the spread. No commission. Razor: Raw spreads plus fixed commission. Spreads start from 0.08pts on Spot Gold (XAUUSD) CFDs²and commission is set at $3.50 per lot, per side.	Spread only. Funding costs are built into the forward price, with no additional overnight funding charges.	Pricing varies by ETF. Commission may apply depending on the underlying market and account.
Trading hours	Nearly 24 hours a day, Monday to Friday.	Nearly 24 hours a day, Monday to Friday.	Underlying exchange trading hours.
May suit traders looking for	Straightforward exposure to Spot Gold price movements.	Longer-term gold positions and futures-style exposure with no overnight funding.	Exposure to gold-related funds, including physical gold funds and gold miners.
Product-specific risk considerations*	Market gaps can occur when gold trading resumes after a closure, increasing the risk of losses Positions accrue daily swap fees for every night the position is held.	Fixed expiry means positions must be closed or rolled, and the forward price can drift from spot gold (basis risk).	Subject to tracking differences between the ETF and physical gold, plus the underlying ETF's own costs and liquidity.

*All three products are leveraged, meaning you only put up a fraction of the position's full value. But gains and losses are calculated on the full exposure, so a small adverse move in gold can produce a loss that is large relative to your outlay. If losses eat into your margin, you may need to add funds or risk having the position closed automatically.

Our account types

Whatever your gold trading strategy or level of experience, you’ll find an account to align with your goals.

CFD Standard

Gain similar exposure to buying the underlying market with a fraction of the capital. All fees, except overnight funding, are included in the spread and there is no commission.

For traders looking for a simple pricing model with no separate commission charges.

CFD Razor

Offers the same trading conditions as our Standard account, but with a raw spread and fixed commission pricing on forex and Spot Gold (XAU/USD). Spreads from 0.0 pips on FX and 0.08 on XAU/USD¹ and commission from $3.50 per lot, per side.

Popular with active traders seeking raw spreads and fixed commissions.