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April live spread report: where did broker spreads move month-on-month?

Methodology and review: This analysis is based on CMC Markets’ April 2026 live spread report, which compares core spreads with live competitor spreads publicly available on broker websites. The article has been reviewed in line with CMC Markets’ internal compliance process and is intended for informational purposes only.

Comparison methodology: Spread levels can vary depending on market conditions, client segmentation and execution factors. To keep this report like-for-like, it compares CMC Markets’ core spreads on selected cash instruments with live competitor spreads published on the brokers’ own product pages. The analysis uses average spreads during defined daytime and overnight sessions, excludes bank-holiday pricing and focuses on markets available across the providers reviewed. Average spreads reflect typical trading conditions and may differ from the minimum spreads often advertised.

While spreads are an important component of trading costs, leveraged trading products carry a high level of risk and may not be suitable for all investors.

April’s live spread report shows a mixed picture across the UK’s major trading providers, with average main-session spreads narrowing in several heavily traded markets but widening in selected commodities and indices.

The report compares CMC Markets’ core spreads on popular ‘cash’ instruments, with live spreads made available by IG, Plus500 and eToro through their websites. The data covers indices, commodities, and FX, with bank holiday prices excluded to improve comparison accuracy. It’s also worth noting that CMC Markets’ figures do not include any Price+ discounts that may have been applied to clients trading in higher volumes.

Gold records biggest spread compression

Gold stood out in April, with main-session average spreads narrowing across all four providers. CMC Markets recorded the largest month-on-month move, with its Gold (Cash) spread down 60.49%. IG’s Gold spread narrowed 36.61%, while Plus500 and eToro saw reductions of 15.50% and 18.50%, respectively.

Gold average spread comparison by session chart

Commodities mixed

Commodity markets produced the widest dispersion in April. Alongside the sharp tightening in gold, CMC Markets’ spreads narrowed on Crude Oil West Texas, Crude Oil Brent and Natural Gas. eToro also recorded material reductions on Crude Oil West Texas and Natural Gas.

Plus500 moved in the opposite direction on energy, with its Crude Oil West Texas spread up 24.39% month-on-month and Crude Oil Brent up 24.61%. Natural Gas was also 3.88% higher. IG’s commodity spreads were broadly stable, with small moves in Crude Oil West Texas, Crude Oil Brent and Natural Gas.

April 2026 mom spread changes commodities chart

Indices were broadly stable, with a few outliers

Index spread changes were generally less pronounced than those seen in Gold and FX. CMC Markets’ biggest index move was Japan 225, where the main-session average spread fell 21.31%. Germany 40 was down 3.08%, while US 30, US NDAQ 100, UK 100 and Australia 200 were broadly stable.

Plus500 recorded notable reductions in several indices, including Germany 40, US 30, Japan 225 and US NDAQ 100. IG’s index changes were mostly flat, apart from Australia 200, which rose 9.52%. eToro saw small changes across most indices, although US NDAQ 100 and US SPX 500 spreads increased by 5.54% and 3.44%, respectively.

April 2026 mom spread changes indices chart

Bottom line

April’s data suggests the most meaningful month-on-month spread changes were concentrated in Gold, major FX pairs and selected energy markets. Gold spreads narrowed across all providers, while FX pricing generally improved across most major pairs. In indices, the picture was steadier, with Japan 225 and selected Plus500 markets standing out as the main movers.

For readers comparing trading costs, the report underlines the importance of looking beyond headline minimum spreads. Average live spreads, session timings, as well as weekend treatment and fee structure changes, can all affect the practical cost picture across providers.

Sources:

https://go.etoro.com/en/commodities

https://go.etoro.com/en/currencies

https://www.etoro.com/discover/markets/indices

https://www.ig.com/uk/commodities

https://www.ig.com/uk/forex

https://www.ig.com/uk/indices

https://www.plus500.com/en-cz/trading/commodities

https://www.plus500.com/en-cz/trading/indices

https://www.plus500.com/en-cz/trading/forex

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