Pick your path. Trade gold, your way.
Whether you're looking to trade gold's price movements, access gold-related funds, or find a tax-efficient* trading approach in the UK, explore the different ways to trade gold and find the one that suits you best.
* In the UK, spread betting 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.
One market. Multiple ways to trade. Which is right for you?
Explore the similarities and differences between each product and pick the one that suits your gold trading strategy.
Gold spread bets | |||
Allows a trader to speculate on the price of gold by staking an amount per point the market moves. Profit or loss depends on how many points the market moves and your stake size. In the UK, spread betting profits are generally exempt from Stamp Duty and Capital Gains tax.* * Please be aware that tax treatment depends on your individual circumstances, and tax law may be subject to change. | Allows a trader to speculate on gold price movements through contracts for difference (CFDs). A CFD is an agreement between you and the broker to exchange the difference in gold’s price between when a trade is opened and closed. Profit or loss is determined by the change in price over that period. Available on both Standard and Razor accounts, with raw spreads from 0.08 on XAU/USD on Razor and commission from £2.25 per lot, per side.1 |
Products | |||
Feature | Spot | Forward | ETF |
What you trade | Price movements in the current cash (spot) price of gold. | Price movements in front-month Gold Futures. | Price movements in gold-related ETFs. |
Underlying ownership | ✕ | ✕ | ✕ |
Market direction | Go long or short. | Go long or short. | Go long or short. |
Account availability | Spread betting account (Only for UK traders. ) Razor and Standard CFD accounts.2 | Spread betting account (Only for UK traders. Razor and Standard CFD accounts.2 | Spread betting account (Only for UK traders. ) Razor and Standard CFD accounts.2 |
Platform availability | MT4, MT5, cTrader, TradingView and the Pepperstone platform and app. | MT4, MT5, cTrader, TradingView and the Pepperstone platform and app. | MT4, MT5, cTrader, TradingViewand the Pepperstone platform and app. |
Pricing model | Spread betting: Costs included in the spread. No commission. Standard: Costs included in the spread. No commission. Standard overnight swap rates apply for positions held past 5:00 PM NY (21:59 UK time). Razor: Raw spreads plus fixed commission. Spreads start from 0.08pts on Spot Gold (XAUUSD) CFDs1and commission starts from £2.25 per lot, per side. Overnight swap rates apply for positions held past 5:00 PM NY (21:59 UK time). | Spread only. Funding costs are built into the forward price (no overnight swap charges). | Spread betting: Costs included in the spread. No commission. Overnight financing charges apply when positions are held overnight. CFD Standard and Razor: Pricing varies by ETF. Commission may apply depending on the underlying market and account. Overnight financing charges apply when positions are held overnight. |
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. |
Learn more about our swap charges here.
Disclaimer: Trading spread bets and CFDs involves risk and is not suitable for everyone. Market prices can move quickly and unexpectedly, and leverage can magnify both gains and losses. You could lose money, so it is important to understand how the product works and consider whether it is suitable for your circumstances before trading.
Why trade on gold with Pepperstone?
Everything you need, backed by a broker you can trust.
Competitive pricing
Access deep liquidity and competitive spreads from 0.08pts on XAU/USD CFDs.1
Fast and reliable execution
Receive a 99.32% fill rate, with no dealer intervention.3
Elite tech
Choose from 4 advanced trading platforms and a robust suite of tools.
Regulated broker
We follow stringent regulatory processes and keep client funds segregated in tier-1 banks.
Competitive pricing
Access deep liquidity and competitive spreads from 0.08pts on XAU/USD CFDs.1
Fast and reliable execution
Receive a 99.32% fill rate, with no dealer intervention.3
Elite tech
Choose from 4 advanced trading platforms and a robust suite of tools.
Regulated broker
We follow stringent regulatory processes and keep client funds segregated in tier-1 banks.
Ready to trade?
Switch to Pepperstone now and join our global community of over 900,000 traders.4 Start your application online with a simple, streamlined process.
Register
Sign up with your email address and get a free demo.
Answer
We’ll check whether our products are appropriate for you.
Verify
Your safety is our top priority.
Fund
That’s it! You’re ready to trade.
1Available on our Razor account. Other fees and charges may apply.
2Standard accounts are no longer available on MT4 from 26 September 2026.
3Fill rates are based on all trading data between 01/01/2026 and 31/03/2026.
4Total number of accounts held with the Pepperstone Group globally, correct as of 1 March 2026.