Pepperstone said today (Monday) it will extend its perpetual CFD range beyond a single SpaceX contract into metals, stock indices and energy, building trading products with no fixed expiry around the pitch of round-the-clock markets.
The gold, silver, Nasdaq, S&P 500, WTI and Brent Crude contracts are already trading for clients of eligible Pepperstone entities, the broker said, with availability varying by jurisdiction. Monday's announcement marked the continued expansion of a range that has been live for several weeks.
Perpetual contracts carry no settlement date and use a periodic funding payment to keep their price close to the underlying market. The structure began in crypto, where perpetual swaps became the dominant way to trade digital assets, and it is now being repackaged for traditional CFDs referencing shares, metals and commodities.
A Suite That Rolls Out by Jurisdiction
Pepperstone's first perpetual CFD was SPCX.US-PERP, a synthetic contract tracking the price of SpaceX. The metals, index and energy contracts followed and are live for clients of eligible entities, though the broker's own announcement described them as "planned for launch."
The broker cited industry estimates to frame the demand. It put perpetual futures volumes above $90 trillion in 2025 and said tokenized assets could grow from about $2 trillion today to as much as $16 trillion by 2030. Both figures came from Pepperstone, which did not detail the sources or methodology behind them.
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Its products are CFDs that reference an asset rather than the perpetual futures listed on crypto exchanges. Traders take the exposure through a standard trading account, without the wallets, exchange collateral or separate onboarding that venue-based perpetuals require, the company said.
Where Regulators Already Draw the Line
The framing of perpetuals as a new frontier runs into rules that are already written. European regulators have told firms that perpetual futures fall under EU CFD rules, which means the leverage caps and product-intervention measures that govern retail CFDs apply to them too.
That matters for how far the "regulated environment" pitch stretches. In markets covered by those measures, wrapping perpetual mechanics in a CFD does not sidestep the retail limits that cut crypto leverage toward 2x; it brings the product inside them.
The announcement itself carried a narrow regulatory footnote. Issued from Dubai, it listed oversight by ASIC, the FCA, the DFSA, BaFin and CySEC among seven regulators, while the disclaimer at the foot cited only a UAE Capital Market Authority licence for introduction and financial consultation.
Tamas Szabo, Pepperstone's group chief executive, said fixed trading hours were becoming outdated and that "we believe perpetual markets will become a standard feature of modern finance."
Brokers Line Up Around the 24-Hour Pitch
Round-the-clock access has become a crowded selling point across retail brokers, and SpaceX has been the product most of them reached for first. CMC Markets and Binance raced to put SpaceX in retail hands on the same day, one through a CFD and the other through a token, while Pepperstone built its version as a perpetual.
Pepperstone had already moved in this direction, rolling out 24-hour trading on US share CFDs across its platforms. It has also pushed into digital assets directly, launching a dedicated crypto exchange in Australia.
Chris Weston, the broker's head of research, tied the shift to the pace of information, saying "major market-moving developments no longer wait for opening bells."
The round-the-clock pitch still has limits. Where clients can reach the contracts depends on jurisdiction, and the funding model settles once a day rather than continuously, according to the broker's product materials.
