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… Pepperstone is here if you want to check.