Updated October 17, 2026 · BrokerCue Editorial Team
Charles Schwab vs Pepperstone
What sets them apart
| Compare |  Charles Schwab |  Pepperstone |
|---|---|---|
| Minimum deposit | $0Lower | $10 |
| Stock trade fee | $0Lower | $0.020 |
| Markets | Stocks, ETFs, Options, Futures, Bonds, Funds | Stocks, ETFs, Forex, CFDs, Crypto, Metals |
| Platforms | Thinkorswim, Schwab Mobile | TradingView, MetaTrader 4, MetaTrader 5, CTrader, Pepperstone platform |
| Account fee | $0 | Not confirmed |
| Inactivity fee | $0 | Not confirmed |
| Regulators | SIPC | Not confirmed |
| Investor protection | SIPC up to USD 500,000 | Not confirmed |
| Retail accounts that lose money | Not confirmed | 74.1% |
| Margin rate | 12.075% | Not confirmed |
| Options contract fee | $0.65 | Not confirmed |
| Account types | IRA, Roth IRA, Joint, Corporate | Not confirmed |
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Key differences
- Pepperstone scores higher overall: 9.2 vs 9.0.
- Minimum deposit is lower at Charles Schwab: $0 vs $10.
- Stock trade fee is lower at Charles Schwab: $0 vs $0.020.
- Markets: only Charles Schwab offers Options, Futures, Bonds.
- Markets: only Pepperstone offers Forex, CFDs, Crypto.
- Platforms: only Charles Schwab offers Thinkorswim, Schwab Mobile.
- Platforms: only Pepperstone offers TradingView, MetaTrader 4, MetaTrader 5.
- Support channels: only Charles Schwab offers Chat, Phone.
- Support channels: only Pepperstone offers Email.
Our verdict on each
Charles Schwab
Charles Schwab suits investors who want a wide US market range at a low running cost, with $0 on stock trades and an account fee of $0. It is less suited to those who want forex, CFDs or crypto on the same account.
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 | Charles Schwab | Pepperstone |
|---|---|---|
| Cost | 9.1HigherStock trades cost $0, the account fee is $0 and the inactivity fee is $0. Options contracts add $0.65. | 8.9 |
| Offer | 9.5 | 9.5 |
| Trust | 8.6 | Not confirmed |
What each covers
| Markets | Charles Schwab | Pepperstone |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | Yes |
| CFDs | No | Yes |
| Options | Yes | No |
| Futures | Yes | No |
| Crypto | No | Yes |
| Bonds | Yes | No |
| Funds | Yes | No |
| Metals | No | Yes |
What we checked
Charles Schwab
- schwab.com: 9 facts, checked September 26, 2026
- sipc.org: 3 facts, checked September 26, 2026
- moneysmart.hk: 2 facts, checked September 26, 2026
- bankrate.com: 1 fact, checked September 26, 2026
- public.com: 1 fact, checked September 26, 2026
Pepperstone
- pepperstone.com: 6 facts, checked October 17, 2026
How they place
| Ranking | Charles Schwab | Pepperstone |
|---|---|---|
| Stock and ETF brokers | 137 of 471 | 22 of 471 |
Every fact side by side
| Fact | Charles Schwab | Pepperstone |
|---|---|---|
| Features | Fractional shares, Demo account, Mobile app | Not confirmed |
| Pricing model | Commission free | Not confirmed |
| Legal entity | CHARLES SCHWAB & CO INC | Not confirmed |
| Headquarters | United States | Not confirmed |
| Support channels | Chat, Phone, Help centre | Email, Help centre |
Robo-advisors
| Fact | Charles Schwab | Pepperstone |
|---|---|---|
| Management fee | 0% | Not confirmed |
| Minimum investment | $5,000 | Not confirmed |
| Portfolio types | ETF, Cash | Not confirmed |
Where each stands against the rest
| Fact | Charles Schwab | Pepperstone | Median |
|---|---|---|---|
| Minimum deposit | $0below the median | $10below the median | $25 |
| Stock trade fee | $0at the median | $0.020above the median | $0 |
| Account fee | $0at the median | Not confirmed | $0 |
| Inactivity fee | $0at the median | Not confirmed | $0 |
| Retail accounts that lose money | Not confirmed | 74.1%above the median | 72.21% |
| Margin rate | 12.075%highest quarter | Not confirmed | 8.75% |
Median across 136 listed brokers.
Pros and cons
Charles Schwab
Pros
- Stock trades cost $0 and there is an account fee of $0, so holding a balance costs nothing to keep open
- No inactivity charge either, with an inactivity fee of $0, so an unused account is not billed
- Markets run stocks, etfs and options, which covers shares, exchange traded funds, options, futures, bonds and funds in one place
Cons
- Options contracts carry a fee of $0.65 each, so a derivative trade costs more than the $0 charged on a stock trade
- The listed markets are stocks, etfs and options, and forex, contracts for difference and crypto are not among them
- Support runs on chat, phone and help centre, and email is not among those channels
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
Charles Schwab
Who it suits
- Investors buying US shares and exchange traded funds who care about what each trade costs
- Retirement savers who want tax-advantaged accounts next to a taxable account
- Fractional share investors building a position gradually with small monthly amounts
Who should look elsewhere
- Anyone wanting forex, contracts for difference or crypto, where eToro lists stocks, etfs and forex against Schwab's stocks, etfs and options
- Traders who want a per contract derivative fee waived, since options cost $0.65 here
- Investors starting a managed portfolio with less than the $5,000 the service asks for
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 | Charles Schwab | Pepperstone |
|---|---|---|
| United States | Yes | No |
Questions about each
Charles Schwab
How much does it cost to trade stocks at Charles Schwab?+
Stock trades cost $0, and there is no account charge on top, with the account fee at $0. Trading is commission free, so the cost of a buy or sell is not driven by a per trade ticket. Options are the exception, priced at $0.65 per contract.
Is there an inactivity fee if I leave my account empty?+
The inactivity fee is $0, so an unused brokerage account is not billed for sitting still. That keeps a dormant account free to hold, which matters if you fund once and add to it occasionally. The same applies to the account fee, which is $0.
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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