IC Markets vs Pepperstone vs XM — which is best for gold trading EU-regulated?
How this answer was verified
- Cross-checked against broker-published fact sheets, regulator licensing databases, and ESMA product intervention notices.
- Reviewed by the FX-Brokers EU editorial desks (Markets, Platforms, Regulation). Desk structure disclosed at /about/editorial-desks.
- Refreshed quarterly. The most recent verification date is shown above. Read our methodology.
Related
Broker review: Pepperstone
Pepperstone is a BaFin-regulated broker offering razor-sharp spreads, zero minimum deposit, and excellent execution across MT4, MT5, cTrader, and TradingView.
Broker review: IC Markets
IC Markets is an ASIC and CySEC-regulated true ECN broker offering one of the deepest cTrader integrations in the industry, with average EUR/USD spreads of 0.02 pips on Raw Spread.
Broker review: XM
XM is ideal for beginner EU traders, offering a $5 minimum deposit, award-winning education, multilingual support in 30+ languages, and CySEC regulation.
Can I trade gold with Pepperstone at 1:30 leverage in 2026?
No. Gold (XAU/USD) is a major commodity CFD and capped at 20:1 leverage for EU/EEA retail clients under ESMA rules, applied by Pepperstone GmbH (BaFin 151148) and Pepperstone Limited (CySEC 388/20). 30:1 leverage at Pepperstone is reserved for major FX pairs such as EUR/USD and GBP/USD. Professional clients can request up to 500:1.
What are the ESMA leverage limits for retail forex traders?
ESMA limits retail forex leverage to 30:1 on major currency pairs, 20:1 on minors and major indices, 10:1 on commodities and non-major indices, 5:1 on individual equities, and 2:1 on cryptocurrencies. These limits apply to all EU/EEA regulated brokers since 1 August 2018.