Updated October 17, 2026 · BrokerCue Editorial Team
AJ Bell vs Pepperstone
What sets them apart
| Compare |  AJ Bell | Pepperstone ReviewVisitVisit |
|---|---|---|
| Minimum deposit | £25 | $10 |
| Stock trade fee | £5 | $0.020 |
| Markets | Stocks, ETFs, Bonds, Funds | Stocks, ETFs, Forex, CFDs, Crypto, Metals |
| Platforms | Web platform, Mobile app | TradingView, MetaTrader 4, MetaTrader 5, CTrader, Pepperstone platform |
| Account fee | £3.50 | Not confirmed |
| Regulators | Financial Conduct Authority (FCA) | Not confirmed |
| Investor protection | FSCS up to GBP 85,000 | Not confirmed |
| Retail accounts that lose money | Not confirmed | 74.1% |
| Currency conversion fee | 0.75% | Not confirmed |
| Deposit and withdrawal fees | Free withdrawals | Not confirmed |
| Account types | ISA, SIPP, Lisa, Jisa | Not confirmed |
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings.
Key differences
- Pepperstone scores higher overall: 9.2 vs 8.7.
- Markets: only AJ Bell offers Bonds, Funds.
- Markets: only Pepperstone offers Forex, CFDs, Crypto.
- Platforms: only AJ Bell offers Web platform, Mobile app.
- Platforms: only Pepperstone offers TradingView, MetaTrader 4, MetaTrader 5.
- Support channels: only AJ Bell offers Chat.
- Support channels: only Pepperstone offers Email.
Our verdict on each
AJ Bell
AJ Bell pairs a flat £3.50 with FCA regulation and FSCS up to GBP 85,000 of cover, so it suits UK savers who want four wrapper types. Deals in shares cost £5 and currency conversion adds 0.75%, which leaves it short of the cheapest names on our data.
Pepperstone
Pepperstone is a CFD broker with several platforms and a demo account. It suits active traders, though leveraged CFDs carry a high risk of quick losses.
Score breakdown
| Area | AJ Bell | Pepperstone |
|---|---|---|
| Cost | 8.4A flat annual fee of £3.50 and £5 a dealing sit mid-table, while currency conversion costs 0.75%. | 8.9Higher |
| Offer | 9.2 | 9.5Higher |
| Trust | 8.6 | Not confirmed |
Feature by feature
| Markets | AJ Bell | Pepperstone |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | Yes |
| CFDs | No | Yes |
| Crypto | No | Yes |
| Bonds | Yes | No |
| Funds | Yes | No |
| Metals | No | Yes |
Availability and regulation
| Country | AJ Bell | Pepperstone |
|---|---|---|
| United Kingdom | Not confirmed |
Positions in our rankings
| Ranking | AJ Bell | Pepperstone |
|---|---|---|
| Stock and ETF brokers | 193 of 471 | 22 of 471 |
Where these facts come from
AJ Bell
- ajbell.co.uk: 15 facts, checked September 26, 2026
Pepperstone
- pepperstone.com: 6 facts, checked October 17, 2026
Every fact side by side
| Fact | AJ Bell | Pepperstone |
|---|---|---|
| Features | Mobile app | Not confirmed |
| Pricing model | Low fees | Not confirmed |
| Legal entity | AJ Bell | Not confirmed |
| Headquarters | United Kingdom | Not confirmed |
| Support channels | Chat, Help centre | Email, Help centre |
Where each stands against the rest
| Fact | AJ Bell | Pepperstone | Median |
|---|---|---|---|
| Account fee | £3.50above the median | Not confirmed | £0 |
| Retail accounts that lose money | Not confirmed | 74.1%above the median | 72.21% |
| Currency conversion fee | 0.75%highest quarter | Not confirmed | 0.45% |
Median across 49 listed brokers.
Pros and cons
AJ Bell
Pros
- Four account types in one place: isa, sipp and lisa.
- Regulated by the Financial Conduct Authority (FCA), with FSCS up to GBP 85,000 of cover on eligible money.
- A flat £3.50 annual charge against a market median of €0.
Cons
- Dealing shares costs £5, where eToro charges $0.
- The account fee places AJ Bell 111 of 138 brands on our data.
- Support runs on chat and help centre only, with no phone line listed.
Pepperstone
Pros
- Several platforms, including MetaTrader, cTrader and TradingView.
- Two pricing styles, one all in and one commission based.
- A demo account with virtual funds before going live.
Cons
- Leverage can cause fast losses, and a high share of retail accounts lose money.
- Overnight positions can pay or earn interest, with larger midweek rollovers.
- Withdrawals must go to an account or card in your own name.
Who each suits
AJ Bell
Who it suits
- You want an FCA-regulated broker with FSCS up to GBP 85,000 behind the account and do not need the lowest dealing cost.
- Your saving changes shape over time and you want ISA, SIPP, LISA and Junior ISA under one roof, since isa, sipp and lisa all sit here.
- You are a regular UK investor who prefers a flat £3.50 to a percentage-based platform charge.
Who should look elsewhere
- You trade very often, because eToro charges $0 on stock deals against £5 here.
- You are starting with almost nothing, since Vantage takes $5 and CFI takes $0 against the £25 asked for here.
- You want phone support, as AJ Bell lists chat and help centre and nothing wider.
Pepperstone
Who it suits
- Traders who want a choice of MetaTrader, cTrader and TradingView.
- Frequent FX, gold or index CFD traders.
Who should look elsewhere
- Anyone who cannot accept fast losses from leverage.
- Long term investors who want to own shares outright.
Country by country
| Country | AJ Bell | Pepperstone |
|---|---|---|
| United Kingdom | Yes | No |
Questions about each
AJ Bell
What does AJ Bell charge to hold an account?+
The account fee is a flat £3.50 a year. That sits above the market median of €0 and well below the €219.24 at the expensive end of our data, so it is a mid-range holding cost rather than a free account.
How much does it cost to buy shares?+
A dealing in shares costs £5. The market median is €0 and the highest figure on our data is €17.54, so frequent dealing adds up quickly and investors who trade rarely feel it least.
Pepperstone
Does Pepperstone charge fees on deposits or withdrawals?+
The company charges no internal funding or withdrawal fees, though your bank or payment provider may apply its own charges. Deposits can be made by debit or credit card, digital wallet, or domestic and international bank transfer. Withdrawals must go to an account or card in the same name.
Can I practise on a demo account first?+
Yes. A demo account uses virtual funds in a live market environment and runs on the same platforms as live accounts. You can test strategies, try order types and explore charts and indicators without risking capital. Demo accounts cannot be reactivated once closed, so keep notes on what you tested.
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