Pepperstone and Capital.com both offer ETF CFDs to UK clients, and both let you spread bet ETFs too. Pepperstone is our pick: it lists more than 90 ETFs, including thematic funds such as uranium, lithium and gold miners, priced at the exchange's own quote plus $0.02 a share on US-listed funds, through its FCA-authorised London firm.
Short answer: ETF CFDs give leveraged, short-term exposure to a fund's price; they are not a way to invest in the fund.
Pepperstone offers 90+ ETFs as CFDs (95 in its platform table) and as spread bets, on all its platforms.
US share and ETF CFD commission at Pepperstone is $0.02 a share per side, with a $0.02 minimum, on Standard and Razor accounts.
ETF spread bets have no commission; the cost is in the spread, in pounds per point.
UK retail leverage on ETF CFDs follows the 5:1 cap for shares and similar instruments, so margin is 20%.
The fund's own management fee is built into its unit price, so you bear it indirectly through the price you trade.
What you are actually trading
An ETF CFD tracks the market price of an exchange-traded fund. Pepperstone's list includes broad funds and themes, and its live-price panel features Global Uranium, ARK Innovation, Lithium, India 50 and Gold Miners. Capital.com's UK site lists funds such as the SPDR S&P 500, Vanguard S&P 500, Invesco QQQ and iShares Russell 2000, as well as leveraged products such as ProShares UltraPro QQQ.
You do not own fund units, so you do not receive distributions as a holder. Pepperstone explains that some ETFs pay dividends depending on what they hold, and an equivalent cash adjustment is made to open positions, credited if you are long and debited if you are short. The ETF's annual management charge is not billed to you separately; as Pepperstone notes, it is deducted daily from the fund's net asset value and so is already in the price.
When an ETF CFD makes sense, and when it does not
ETF CFDs and spread bets suit short-term views on a theme or a sector, hedging a portfolio you hold elsewhere, or going short a sector you think is overvalued. Holding one for months costs overnight funding every night on the full position value, which a real ETF in a share dealing account or ISA does not.
Be careful with leveraged and inverse ETFs inside a CFD. A 3x fund already magnifies daily moves, and the CFD adds up to 5:1 on top, so a modest market move can wipe out your margin. Pepperstone does not offer share dealing or ISAs, so for long-term ETF investing in the UK you need a stockbroker instead.
Best for ETF CFDs
90+ ETF CFDs and spread bets, including thematic funds, at exchange prices plus $0.02 a share on US funds, on TradingView, MT4, MT5, cTrader or its own platform.
65% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Pepperstone, Capital.com and XS are our partners. We may earn a commission if you open an account through our links. That does not change the facts on this page.
Your questions, answered
Which broker is best for trading ETF CFDs?
We pick Pepperstone for ETF CFDs. US-listed funds trade at the underlying bid and offer with a commission of $0.02 a share per side, so 500 units of an S&P 500 ETF cost $10 to open and $10 to close, before overnight funding. The same funds can be spread bet commission-free in pounds. Capital.com is a good alternative for its broad list of US funds and its guaranteed stops where available, which Pepperstone does not offer.
Can you spread bet on ETFs in the UK?
Yes. Pepperstone offers spread bets on 90+ ETFs, staked in pounds per point with no commission, and its platform table lists ETF spread bets alongside ETF CFDs. Capital.com also offers spread betting on shares and ETFs. As with other spread bets, profits are currently exempt from capital gains tax and stamp duty for most UK individuals, depending on circumstances.
What are the spreads on ETF CFDs at UK brokers?
At Pepperstone, an ETF CFD has no mark-up: you pay the fund's actual exchange spread plus commission, $0.02 a share per side on US funds. Capital.com adds a small fixed mark-up to each side of the exchange price instead of commission; its pricing page shows how, with an example of $0.05 per side. Neither firm publishes a fixed spread per ETF, so check the live quote, which is tightest while the fund's home exchange is open.
Which brokers offer sector and thematic ETF trading?
Pepperstone offers sector and thematic ETFs among its 90+ funds; the themes on its UK ETF page include uranium, lithium, innovation and gold miners, plus country funds such as India 50. Capital.com lists sector funds such as semiconductor ETFs and leveraged sector products. Thematic funds can be volatile and less liquid than broad index ETFs, so their spreads are often wider.
Published 2026-10-21. Informational only, not investment advice. CFDs are leveraged products and most retail accounts lose money.
Best for ETF CFDs
Wide US ETF list