Perpetual CFDs
Trade on your timeline
Trade gold, oil or an index around the clock, 24/7 and at the weekend, even when the underlying market is closed. No expiry, nothing to roll over, and hold a position for as long as you want.
Already with Pepperstone? Log in and trade →
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money. You trade a CFD on the market and don't own the underlying.
Data correct as of 1 March 2026.
Why perpetual
Every position you take comes with a clock
Trade a market the usual way and you're working against a deadline: contracts expire, positions roll, and on native perpetual venues the funding meter runs every hour. A perpetual CFD takes the clock off the table, so the only thing left to manage is the trade itself.
The mechanic
What a perp CFD actually is
A perpetual CFD lets you take a position on a market like gold or oil and hold it for as long as you want, with no expiry and nothing to roll.
Its price follows the underlying market, and it works like the other CFDs in your account: the same position sizes, the same statements, and the same automatic stop-out if a trade moves against you.
You're trading on the price movement. You never own the gold, the barrel of oil or the shares.
The name, decoded
How it works
How it works, and how it's different
Your price moves with the market
A perp CFD follows the price of the underlying market. When gold moves, your position moves with it.
The risks work the way CFDs always do
If a trade goes against you, the same margin call and stop-out as any CFD closes the position before losses can run away.
No ADL · no liquidation feesYou know the holding cost in advance
Holding overnight has a cost, called a swap. It's set for the week ahead and charged in daily amounts, so there are no shifting hourly charges. A small price step appears at 17:00 New York when it's applied; the swap cancels it out, so no value is lost.
Nothing new to set up
No crypto wallet, no keys, no blockchain transfers. You trade perps from the same Pepperstone account and balance you already use.
Go long or short, hold as long as you like
Take a position whether you think a market will rise or fall, and keep it open with no expiry and nothing to roll over.
Leverage for your account
Retail leverage is 1:2. Higher leverage is available for Pro clients, depending on the symbol.
What you can trade
Gold, silver, indices and oil, now perpetual
Each market draws a different kind of trader. Pick the one you follow, and trade it around the clock with no expiry.
Symbols and per-product trading links are shown only where that symbol is live for your region. Availability varies by entity and platform.
Already trade perps?
The same exposure, without the mechanics working against you
A straight look at how perpetual mechanics differ on a native venue and on a Pepperstone perp CFD. We show our terms; you check yours.
| On a native venue | With Pepperstone | |
|---|---|---|
| Funding | Hourly funding, variable | ✓Weekly swap, set in advance |
| Auto-deleveraging (ADL) | Possible | ✓None. Standard margin-call & stop-out |
| Liquidation fees | May apply | ✓None |
| Downside protection | Varies | ✓Negative-balance protection where applicable |
| Wallet / custody | Wallet required | No wallet. Trade from your account |
| Leverage | Higher | Retail leverage is 1:2. Higher leverage for Pro clients depends on the symbol. |
| Platform | Venue app | MT5 · cTrader · Pepperstone Platform |
Comparison of general native perpetual-venue mechanics and Pepperstone perp CFDs. Venue mechanics vary, so check your venue's terms. You trade a CFD on the market and don't own the underlying.
Why Pepperstone
A familiar account, now perpetual
Regulated the world over
The Pepperstone group has 9 licensed entities globally. Your account gets negative-balance protection where applicable, so you can't lose more than your account balance.1
Mechanics you already know
Perp CFDs work like every other CFD in your account, so there's nothing new to learn.
Your platform, your choice
Trade them on MT5, cTrader or the Pepperstone Platform.
Reliable execution and support
The same execution and support you get across your Pepperstone account.
1 Your account is with Pepperstone Markets Limited, regulated by the Securities Commission of the Bahamas (SCB no. SIA-F217). We don't list the individual group regulators here.
More control
The CFD you know, plus the perpetual
You can already trade these markets as a standard CFD during normal market hours. The perpetual adds a second option: the same market, traded around the clock with no expiry, held as long as you like. Same account, one more choice about when and how long you hold.
Market hours only
The CFD you already trade, with regular hours, expiry and rollover as normal.
24/7, no expiry
The same market, traded around the clock (24/7, weekends included) and held as long as you like, with nothing to roll over.
Ready when you are
Perpetuals, on your terms
Opening an account takes a few minutes.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money.
Already with Pepperstone? Log in and trade →
Questions
Before you open
What is a perp CFD?
A way to take a position on a market like gold or oil with no expiry date. Its price follows the underlying market, it works like any other CFD in your account, and you never own the underlying asset, just the price movement.
How is funding charged?
Holding a position overnight costs a swap, set for the week ahead and charged in daily amounts at 17:00 New York. You'll see a small price step when it's applied; the swap cancels it out, so nothing is actually lost.
How is this different from a crypto exchange?
You're trading with a regulated broker, not an exchange. That means no auto-deleveraging, no liquidation fees, negative-balance protection where applicable, and no wallet or private keys to manage.
What leverage applies?
Retail leverage is 1:2. Higher leverage is available for Pro clients, depending on the symbol.
Which markets can I trade?
Gold, silver, indices and oil, wherever they're live in your region, plus SPCX.US where available. SPCX.US is synthetic, so you don't own any shares.
When can I trade?
Around the clock, 24/7 and including weekends, so you can trade even when the underlying market would normally be closed. Exact hours can vary a little by instrument and platform.
How do I get started?
Open an account, verify your details, add funds, then place your first perp CFD trade from MT5, cTrader or the Pepperstone Platform. You can try a demo first if you'd rather practise.
What platforms can I use?
MT5, cTrader and the Pepperstone Platform.