Pepperstone Gold Spread & Trading Conditions 2026

Pepperstone quotes Gold — the XAU/USD gold spot contract — with a standard spread of Variable. On raw/ECN accounts the spread is typically Variable + commission. Spreads are quoted in points.

Fee context from our review: Pepperstone's Razor account is a market leader for cost-efficiency with raw spreads from 0.0 pips and competitive commissions: $7.00 round turn on MT4/MT5, $6.00 on cTrader, $7.00 on TradingView. Standard accounts have zero commission but wider spreads from 1.0 pips. No deposit fees, no withdrawal fees, no inactivity fees. Active Trader Program offers rebates for high-volume traders.

When trading Gold at Pepperstone:

Minimum deposit: $0 (Recommended $200)
Maximum leverage: 1:500 (Pro) | 1:30 (Retail)
Commission: $3.50/lot (Razor)
Execution: NDD & STP
Platforms: MT4, MT5, cTrader, TradingView

Spreads shown are indicative of the account types we assess. Raw/ECN accounts generally charge a per-lot commission in exchange for tighter raw spreads, while standard accounts build costs into the spread itself.

The Gold spread is driven by liquidity depth, market volatility, the time of day (London and New York sessions are tightest), and the account model you choose. Pepperstone supports MT4 and MT5 for spread-sensitive execution.