Oil Spread Comparison UK: 10 Brokers Tested (2026)

Which broker offers the lowest spread on WTI or US Crude?

Last updated: 17th June 2026

Ok, this spread comparison was messy… why? Well, oil is a pretty broad term.

You’ve got WTI (West Texas Intermediate) and Brent. These are the two main types of oil traded and have different prices.
Not only that, but a lot of brokers offer rolling cash contracts and futures (via a CFD or a spread bet) 

But wait, that’s not all… to add to the confusion, they all seem to call oil different things:

WTI
US Crude
US Oil
US Light Crude
Spot Crude

The naming convention does not make it easy…

But luckily, I’ve been around the markets for many decades, so I can work out what’s what to give you a decent oil spread comparison. (although it didn’t quite go to plan as you’ll see below)

So my method tries to replicate a typical trader’s decision flow.

See a trade opportunity, open a dealing ticket, and execute. 

With that in mind, I checked the spreads of ten top brokers on a regular Friday afternoon.
Friday, 12th June at 16:17 BST to be exact.

The brokers I chose were:

CMC Markets
Pepperstone
IG
City Index
Plus 500
FX Pro
FXCM
Forex.com
Capital.com
Oanda

Oil was trapped in a range most of the afternoon when I did the check, so spreads should have been pretty competitive. 

Oil spreads checked during typical price action

Lowest Oil Spreads

In no particular order, these were the oil spreads:

CMC 2.5pts
Oanda 3pts
IG 2.8pts
Plus500 9pts
FXCM 3.4pts
Pepperstone 2.8pts
Capital.com 3.2pts
FxPro 3pts
City Index 2.5pts
Forex.com 2.5pts

Now, these spreads were a lot more competitive compared to last month, volatility from global news had died down a bit so many brokers tightened their oil spread accordingly.

IG and Forex.com were on variable spreads.

So I watched the oil spreads for around a minute after the spread capture and saw this…

IG 2.8 – 4.8pts
Forex.com 2.5 – 3.5pts 

Alright, so what were the final results? 

Pepperstone Oil Spread Betting Ticket (2.8pts spread)

Oil Spreads: Brokers ranked from best to worst

Oil spreads ranked from best to worst:

  1. CMC and City Index 2.5pts
  2. Forex.com 2.5pts (variable)
  3. Pepperstone and IG 2.8pts
  4. FxPro and Oanda 3pts
  5. Capital.com 3.2pts
  6. FXCM 3.4pts
  7. Plus500 9pts

The spread saving is quite a lot if you choose the right broker. Use my spread saver tool to see the full picture.

So CMC and City Index took the top spot, 2.5pts during the test.

If you want to see my other spread tests:

Indices: 
Dow, Dax, FTSE, Nasdaq, S&P 500

Forex:
USD/JPY, EUR/USD, GBP/USD

Commodities:
Gold

Or see my spread checker comparison table to get a view of everything in one place.

Oh, and if you’re from the UK, wondering if spread betting really is tax-free, I wrote a super in-depth article covering everything you need to know, including extracts from HMRC themselves…

Month Checked Tightest broker(s) Oil Spread
June 2026 CMC, City Index & Forex.com* 2.5pts
May 2026 CMC 2.5pts

* Variable spread

73% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money