DAX Spread Comparison
Cutting spreads to reduce headwind
DAX spreads from different brokers
Pepperstone told me they’ve been cutting spreads recently. Yeah yeah…
“You mean matching competitor spreads? Yawn…”
So I decided to take a look for myself. Do some market research. I like trading the DAX, and so do a lot of you.
Anyway, I decided to take live DAX prices from the websites of 6 Spread Betting and CFD brokers
- Capital
- CMC Markets
- IG
- City Index
- FXCM
- Pepperstone
I looked at about 10.20 a.m. UK time, as I wanted no data coming out, regular cash session, trading hours session, and limited volatility so it was a fair fight.
(Also so I could grab the screenshots in time… very scientific…)
Here’s what I found for the DAX
In no particular order:
- Capital = 1.5pts
- CMC Markets = 1.2pts
- IG = 1.4pts
- FXCM = 4pts
- City Index = 1.2pts
- Pepperstone = 0.9pts
To be honest, I thought this looked like a blatant promo for Pepperstone so I crawled Google for more brokers to try and find someone at least offering the same 0.9 pt spread.
Same story.
- Plus 500 = 1.97pts
- FX Pro = 1.3pts
- Forex = 1.2pts
Alright, the results are what they are…
Let’s rank all the brokers in order from best DAX spread to worst:
- Pepperstone 0.9pts
- Forex, City and CMC 1.2pts
- FX Pro 1.3pts
- IG 1.4pts
- Capital 1.5pts
- FXCM 4pts
By the way, these spreads were taken at one point in time on a random Thursday morning. I tried to be as fair as possible (and even double-checked after the US open) but markets can get wild, and maybe the spreads change.
Do your own due diligence and all that…