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Trading Spreads, Swap Rates and Commissions

At Pepperstone, we aim to offer highly competitive conditions so that traders can focus on what really matters. To do so, we use multiple liquidity providers from Tier 1 Banks and institutions to give you access to competitive quotes and deep liquidity on a wide range of financial instruments, including margin forex, commodity CFDs, and Indices CFDs. This allows us to offer razor sharp pricing, low commissions on margin forex, and low-latency fast execution to all clients. 

Deep liquidity

Unlock trading potential with our deep liquidity, ensuring seamless transactions, reduced slippage and transparent pricing.

Learn more about our deep liquidity

Our spreads

In margin forex trading, the spread refers to the difference between the bid price and the ask price of a currency pair. The bid price is the price at which a trader can sell a currency, while the ask price is the price at which a trader can buy a currency. The spreads is usually measured in pips, which is the smallest unit of measurement in margin forex trading.

Margin Forex
Commodity CFDs
Indices CFDs
Cryptocurrency CFDs

Our commissions

Commissions are only charged on Razor accounts when trading CFDs on Margin Forex. Please note that on MT5 and MT4, micro lots are rounded up or down. Both Razor and Standard accounts charge commission when trading in Share CFDs and ETF CFDs

Shares
MT4 Razor account commissions
MT5 Razor account commissions
cTrader commissions
TradingView
Pepperstone platform

Our swap rates

What are swap rates?

Swap rates are rollover interest rates (that's earned or paid) for holding positions overnight. We simply make an interest adjustment to your account, which is either a debit or a credit, to reflect the cost of funding your position.


Margin Forex

Daily swap charge / credit = One point x (Trade size [or notional amount] x Tom-next)

*We source our Tom-next rates from tier-one global investment banks. These are updated on a daily basis to account for the dynamic swap market.

Note: Our Commodities metal swaps are also calculated in the same way

Indices CFDs

Daily swap charge / credit = (market closing price x Trade size x (our charge* +/- ARR or IBOR)) / 360


*Our charge is 2.5%. If you’re long, you pay ARR/IBOR. If you’re short, you receive it.

For more information on ARR / IBOR or other inter-bank reference rates, please see link.

Commodity CFDs

Daily swap charge / credit = (Trade size x (basis* +/- our charge**))


*Formula for the basis = (P3 – P2) / (T2 – T1), where: P2 = price of front-month future P3 = price of next-month future T1 = expiry date of the previous front-month future T2 = expiry date of the front-month future


**Our charge = CFD mid price x 2.5% / 365. If you pay the basis on your trade, our charge is added; if you receive the basis, the charge is deducted.

Share CFDs

Daily swap charge / credit = (market closing price x Trade size x (our charge* +/- ARR or IBOR)) / 360


*Our charge is 2.5%. If you’re long, you pay ARR/IBOR. If you’re short, you receive it.

For more information on ARR / IBOR or other inter-bank reference rates, please see link.

Cryptocurrency CFDs

Daily swap charge / credit = (market closing price x Trade size x Percentage*) / 360

Percentage*: You can find our latest swap rates on our trading platforms. Swap rates posted on our platforms are indicative rates and are subject to change based upon market volatility.

Where can I find Pepperstone's swap rates?

You can find our latest swap rates on our trading platforms. Swap rates posted on our platforms are indicative rates and are subject to change based upon market volatility. Swap rates are updated daily and the rate will depend on your trading platform. TradingView will only show the swap charge after it has been applied.

To view the rates on our Pepperstone Trading Platform
  • Go to “Watchlist”
  • Select the symbol you wish to check and in right-click menu select 'Instrument info' (please note that Overnight Rate is shown based on points adjustment format, i.e. positive Long points mean there is a charge and negative Long points mean there is a payout).
To view the rates on our MetaTrader platforms
  • Select 'View'
  • Right-click on 'Market Watch' and select 'Symbols'
  • Choose the currency pair you wish to check and select 'Properties' (on MT5, please select 'Specification')
To view the rates on our cTrader platform
  • Go to the 'Finder' tab
  • Type the symbol name in the search bar
  • Click the information icon next to the symbol to view its settings

Pepperstone Webtrader

Pepperstone Webtrader FAQs

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Opening an account is quick and easy. Apply and start trading.

Get started

*All spreads are generated from data between 01/03/2025 and 31/03/2025

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1300 033 375
Level 16, Tower One, 727 Colins Street
Melbourne, VIC Australia 3008
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© 2025 Pepperstone Group Limited

Risk Warning: Trading CFDs and margin FX is risky. It isn't suitable for everyone and if you are a professional client, you could lose substantially more than your initial investment. You don't own or have rights in the underlying assets. Past performance is no indication of future performance and tax laws are subject to change. The information on this website is general in nature and doesn't take into account your personal objectives, financial circumstances, or needs. You should consider whether you’re part of our target market by reviewing our TMD, and read our PDS and other legal documents to ensure you fully understand the risks before you make any trading decisions. We encourage you to seek independent advice if necessary.

Pepperstone Group Limited is located at Level 16, Tower One, 727 Collins Street, Melbourne, VIC 3008, Australia and is licensed and regulated by the Australian Securities and Investments Commission.

The information on this site and the products and services offered are not intended for distribution to any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

© 2024 Pepperstone Group Limited | ACN 147 055 703 | AFSL No.414530