Pick your path. Trade gold, your way.
Whether you're looking for flexibility or diversification, you can choose from four different types of gold CFD - spot, forward, perpetual or ETF, all from one Pepperstone account.
Gold pricing
| Instrument | Bid | Ask | Spread | |
| Gold (XAUUSD) | — | — | — | Trade |
| GOLD | — | — | — | Trade |
| Gold Miners | — | — | — | Trade |
One market. 4 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.
Perpetual CFDs¹
Trade perp CFDs on gold 24/7, even on weekends and act on key news and price moves as they happen.
Know your costs in advance with funding set weekly and applied once daily. Commission will apply.
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.
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.
Perpetual CFDs¹
Trade perp CFDs on gold 24/7, even on weekends and act on key news and price moves as they happen.
Know your costs in advance with funding set weekly and applied once daily. Commission will apply.
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.
Compare your gold trading routes
Explore the similarities and differences between the four products and pick the one that suits your gold trading strategy.
Feature | Spot Gold CFDs | Gold forward CFDs | Gold perpetual CFDs | Gold ETF CFDs |
What you trade | Price movements in Spot Gold. | Price movements in front-month gold futures. | Price movements in the gold perpetual futures market. | 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. | Go long or short. |
Account availability | Standard and Razor CFD accounts.2 | Standard and Razor CFD accounts.2 | Standard and Razor CFD accounts.2 | Standard and Razor CFD accounts.2 |
Platform availability | MT5, cTrader, TradingView and the Pepperstone platform and app. | MT5, cTrader, TradingView and the Pepperstone platform app. | MT5, 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) CFDs3 and commission is set at USD 3.50 per lot, per side. | Spread only. Funding costs are built into the forward price, with no additional overnight funding charges. | Spreads starting from 0.3 pts, plus commission fee. A funding rate is set weekly and applied through daily swap entries. Commission will apply. | 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. | 24/7, including weekends. | 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. | Around-the-clock access and no contract expiry. | 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). | Funding rates can vary, making holding costs less predictable than other products, particularly over longer periods or in volatile markets. | Subject to tracking differences between the ETF and physical gold, plus the underlying ETF's own costs and liquidity. |
*All four 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.2
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.
Why trade on gold with Pepperstone?
Everything you need, backed by a broker you can trust.
Competitive pricing
Access deep liquidity and low spreads from 0.08pts on XAU/USD CFDs.3
Fast and reliable execution
Receive a 99.32% fill rate, with no dealer intervention.4
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 low spreads from 0.08pts on XAU/USD CFDs.3
Fast and reliable execution
Receive a 99.32% fill rate, with no dealer intervention.4
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.5 Apply in minutes with our simple application process.
Register
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Fund
That’s it! You’re ready to trade.
1Perpetual CFDs reference a synthetic market or price and do not provide ownership of, or rights to, the underlying asset.
2Standard accounts are no longer available on MT4 and cTrader from 26 September 2026.
3Available on our Razor account. Other fees and charges may apply.
4Fill rates are based on all trading data between 01/01/2026 and 31/03/2026.
5Total number of accounts held with the Pepperstone Group globally, correct as of 1 March 2026.