Oil Spread Comparison UK: 10 Brokers Tested (2026)

Which broker has the lowest US Crude Oil spread?

Last updated: 31st July 2026

As of 31st July 2026, the tightest oil spread across the 10 UK brokers we checked was 2.0pts shared between CMC and Pepperstone.

Month Checked Tightest broker(s) Oil Spread
July 2026 CMC & Pepperstone 2.0pts
June 2026 CMC, City Index & Forex.com* 2.5pts
May 2026 CMC 2.5pts

* Variable spread

Between 61-89% of retail investor accounts lose money when trading CFDs and spread bets. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk.

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 Monday afternoon.
Monday 27th July at 5.40 pm 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

Oil Spreads: Brokers ranked from best to worst

Oil spreads ranked from best to worst:

  1. CMC and Pepperstone 2.0pts
  2. IG 2.8pts
  3. FXPro 3.0pts
  4. Capital 3.2pts
  5. FXCM 3.4pts
  6. Forex.com, City Index and Oanda 4.5pts
  7. Plus500 7.0pts

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 Pepperstone took the top spot, 2.0pts 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…