Crypto CFD spreads are the wild west of forex broker pricing. While EUR/USD spreads are measured in fractions of a pip and compete in the seventh decimal place, Bitcoin spreads can range from $15 to $80 depending on the broker, time of day, and market conditions. For traders who use CFD brokers for crypto exposure — and millions do, because of leverage, short selling, and platform familiarity — the spread difference between brokers can be the single largest determinant of profitability.
We tracked BTC/USD, ETH/USD, and SOL/USD spreads across four brokers for 30 days on their tightest account types. The results reveal a clear hierarchy that does not match the forex spread rankings.
Why Crypto Spreads Are Different
Forex pairs like EUR/USD benefit from the deepest liquidity pool in global finance — $7.5 trillion in daily turnover, thousands of market makers, and decades of electronic trading infrastructure. This competition compresses spreads to near-zero on major pairs.
Crypto markets are structurally different:
- Fragmented liquidity: Bitcoin trades across 50+ exchanges with different prices, creating wider effective spreads when brokers aggregate pricing.
- 24/7 trading: Unlike forex (which has natural liquidity peaks during London-NY), crypto trades continuously. During low-activity hours, spreads widen significantly.
- Higher volatility: Bitcoin regularly moves 3-5% in a day versus 0.5-1% for EUR/USD. Brokers widen spreads to compensate for this volatility risk.
- Fewer institutional market makers: The interbank market that provides sub-pip forex liquidity does not exist for crypto in the same form.
Bitcoin (BTC/USD) Spread Comparison
| Broker / Account | Average (Active Hours) | Average (Quiet Hours) | Peak Spread | Minimum |
|---|---|---|---|---|
| Exness Raw Spread | $20 | $38 | $95 | $12 |
| IC Markets Raw Spread | $27 | $45 | $110 | $18 |
| Pepperstone Razor | $32 | $52 | $125 | $20 |
| XM Ultra Low | $40 | $65 | $150 | $28 |
"Active hours" for Bitcoin corresponds roughly to US market hours (14:00-22:00 UTC) when both traditional finance and US-based crypto participants are most active. "Quiet hours" covers the Asian overnight period (02:00-08:00 UTC) when liquidity drops.
Exness leads clearly on BTC/USD with a $20 average spread during active hours — $7 less than IC Markets and $20 less than XM. At a Bitcoin price of approximately $67,500, the $20 spread represents 0.03% of the price — comparable to a 0.3 pip spread on a forex pair. This is genuinely tight for crypto CFDs.
Ethereum (ETH/USD) Spread Comparison
| Broker / Account | Average (Active) | Average (Quiet) | Peak |
|---|---|---|---|
| Exness Raw Spread | $1.80 | $3.50 | $12 |
| IC Markets Raw Spread | $2.50 | $4.20 | $15 |
| Pepperstone Razor | $3.00 | $5.00 | $18 |
| XM Ultra Low | $4.50 | $7.50 | $22 |
The ranking mirrors BTC/USD: Exness tightest, XM widest, IC Markets and Pepperstone in between. The proportional gap is similar — Exness saves approximately 30% versus IC Markets and 60% versus XM on ETH/USD.
Solana (SOL/USD) Spread Comparison
| Broker | Average (Active) | Available? |
|---|---|---|
| Exness | $0.15 | Yes |
| IC Markets | $0.22 | Yes |
| Pepperstone | $0.25 | Yes |
| XM | N/A | No (SOL not available) |
Solana is available on three of the four brokers tested. XM does not offer SOL/USD as of April 2026. Exness again provides the tightest spread at $0.15 average. Relative to SOL's price (~$145), this represents approximately 0.10% — wider in percentage terms than BTC but still competitive for altcoin CFDs.
Total Cost: Crypto CFD vs Spot Exchange
A common question: is it cheaper to trade crypto through a CFD broker or on a spot exchange like Binance? The answer depends on holding period:
| Scenario | CFD Broker (Exness) | Spot Exchange (Binance) | Cheaper |
|---|---|---|---|
| Day trade (close same day) | $20 spread + $0 deposit | $13.50 (0.02% fee × 2) + network fee | Spot (marginally) |
| 2-day swing | $20 spread + ~$5 overnight | $13.50 fees + network fees | Tied |
| 1-week hold | $20 spread + ~$18 overnight | $13.50 fees | Spot exchange |
| 1-month hold | $20 spread + ~$75 overnight | $13.50 fees | Spot exchange (clearly) |
For trades held less than 2-3 days, the cost difference is negligible and CFD brokers offer advantages: leverage (short with ease), no blockchain hassle, same platform as your forex trades, and no withdrawal delays. For positions held longer than a week, spot exchanges are significantly cheaper because there are no overnight financing charges.
Islamic account traders should note that swap-free crypto CFDs on Exness eliminate overnight charges entirely, making the CFD route cheaper than spot exchanges for any holding period — a unique advantage for Muslim traders. See our hidden fees guide for more on overnight costs.
Crypto Spread Patterns by Time of Day
Unlike forex, where London and New York sessions provide predictable tight-spread windows, crypto spread patterns follow a different rhythm:
- Tightest spreads: 14:00-20:00 UTC (US market hours, highest institutional activity)
- Moderate spreads: 08:00-14:00 UTC (European hours, decent liquidity)
- Widest spreads: 02:00-08:00 UTC (Asian overnight, lowest liquidity)
- Weekend widening: Saturday-Sunday spreads are 50-100% wider than weekday levels on all brokers (crypto trades 24/7 but with less liquidity)
If you trade crypto CFDs, concentrate your activity during US market hours when spreads are tightest. Avoid weekend crypto trading unless your strategy specifically requires it — the spread cost is significantly higher. For similar timing analysis on forex pairs, see our EUR/USD spread comparison.
Available Crypto Instruments by Broker
| Crypto | Exness | IC Markets | Pepperstone | XM |
|---|---|---|---|---|
| BTC/USD | Yes | Yes | Yes | Yes |
| ETH/USD | Yes | Yes | Yes | Yes |
| SOL/USD | Yes | Yes | Yes | No |
| XRP/USD | Yes | Yes | Yes | Yes |
| DOGE/USD | Yes | Yes | Yes | No |
| ADA/USD | Yes | No | Yes | No |
| AVAX/USD | Yes | No | Yes | No |
| Total Crypto | 20+ | 12 | 18 | 8 |
Exness offers the widest crypto CFD selection with 20+ instruments. XM has the narrowest at 8 instruments (primarily majors). If you trade altcoins beyond BTC and ETH, Exness and Pepperstone provide the best selection. See our overall broker rankings for instrument comparisons across all asset classes.
Our Verdict: Best Crypto CFD Broker for Spreads
Exness wins this category convincingly. The broker offers the tightest crypto spreads across BTC, ETH, and SOL, the widest instrument selection (20+ crypto CFDs), and the unique advantage of genuinely swap-free Islamic accounts that eliminate overnight financing — making crypto CFDs cheaper than spot exchanges for longer holds.
IC Markets is the runner-up with solid spreads and the fastest execution. Pepperstone adds TradingView integration for superior charting. XM trails on both spread width and crypto selection.
For traders who primarily trade crypto: choose Exness. For traders who trade crypto occasionally alongside forex: your forex broker choice should still be driven by forex spread data (where differences are smaller), and any of the four brokers provides adequate crypto access.
Trade Crypto with the Tightest Spreads
Exness offers $20 average BTC/USD spread — 30-60% tighter than competitors. 20+ crypto instruments available.
Open Exness AccountTrading crypto CFDs carries extreme risk due to high volatility. 74-89% of retail accounts lose money trading CFDs. Cryptocurrency prices can drop 20%+ in a single day. This article contains affiliate links.