DAX Spread Comparison

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. 

Updated on Wednesday, 22nd April 2026 for accuracy and added four more brokers.

Anyway, I decided to take live DAX prices from the websites of 10 Spread Betting and CFD brokers

1. Capital
2. CMC Markets
3. IG
4. City Index
5. FXCM
6. Pepperstone
7. SpreadEx
8. Trading 212
9. Oanda
10. Plus 500

I looked at about 12.13 p.m. UK time, as I wanted no data coming out, a regular cash session for the DAX, 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 at that time

In no particular order:

• Capital = 1.5pts
• Pepperstone = 0.9pts
• CMC Markets = 1.2pts
• IG = 1.4pts
• FXCM = 1.3pts 
• City Index = 1.2pts
• SpreadEx = 1.6pts
• Oanda = 2.2pts 
• Plus 500 = 2.66pts
• Trading 212 = 3.2pts

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.

• FX Pro = 2.1pts
• Forex = 1.2 pts

Alright, the results are what they are…

Let’s rank all the brokers in order from best DAX spread to worst:

1. Pepperstone 0.9pts
2. Forex, City and CMC 1.2pts
3. FXCM 1.3pts
4. IG 1.4pts
5. Capital 1.5pts
6. SpreadEx 1.6pts 
7. FX Pro 2.1pts
8. Oanda 2.2pts
9. Plus 500 2.66pts
10. Trading 212 3.2pts

By the way, these spreads were taken at one point in time on a random Wednesday afternoon. 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 it out for yourself.