Updated October 17, 2026 · BrokerCue Editorial Team
Freetrade vs Pepperstone
Where Freetrade and Pepperstone differ
| Compare |  Freetrade | Pepperstone ReviewVisitVisit |
|---|---|---|
| Minimum deposit | £1 | $10 |
| Stock trade fee | £0 | $0.020 |
| Markets | Stocks, ETFs, Bonds, Funds | Stocks, ETFs, Forex, CFDs, Crypto, Metals |
| Platforms | App, Web | TradingView, MetaTrader 4, MetaTrader 5, CTrader, Pepperstone platform |
| Account fee | £0 | 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 | 0.99% | Not confirmed |
| Account types | ISA, SIPP, Jisa | Not confirmed |
| Interest on cash | 1% | Not confirmed |
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Key differences
- Pepperstone scores higher overall: 9.2 vs 8.8.
- Markets: only Freetrade offers Bonds, Funds.
- Markets: only Pepperstone offers Forex, CFDs, Crypto.
- Platforms: only Freetrade offers App, Web.
- Platforms: only Pepperstone offers TradingView, MetaTrader 4, MetaTrader 5.
- Support channels: only Freetrade offers Chat.
Our verdict on each
Freetrade
Freetrade suits UK beginners who want to buy shares, ETFs, bonds and funds without paying a dealing charge or an annual account fee. Regulation sits with the Financial Conduct Authority and holdings are covered by the FSCS, though a currency conversion fee of 0.99% applies and support runs on email, chat and help centre only.
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 | Freetrade | Pepperstone |
|---|---|---|
| Cost | 9.0HigherStock trade fees of £0 and an account fee of £0 sit alongside a 0.99% currency conversion charge. | 8.9 |
| Offer | 9.1A UK platform with isa, sipp and jisa accounts, plus a demo account, fractional shares and stocks, etfs and bonds. | 9.5Higher |
| Trust | 8.5 | Not confirmed |
Positions in our rankings
| Ranking | Freetrade | Pepperstone |
|---|---|---|
| Stock and ETF brokers | 179 of 471 | 22 of 471 |
Side by side, item by item
| Markets | Freetrade | 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 |
What we checked
Freetrade
- freetrade.io: 14 facts, checked September 26, 2026
- en.wikipedia.org: 3 facts, checked September 26, 2026
Pepperstone
- pepperstone.com: 6 facts, checked October 17, 2026
Every fact side by side
| Fact | Freetrade | Pepperstone |
|---|---|---|
| Features | Fractional shares, Mobile app, Demo account | Not confirmed |
| Pricing model | Commission free | Not confirmed |
| Audience | Beginners | Not confirmed |
| Legal entity | Freetrade Limited | Not confirmed |
| Headquarters | United Kingdom | Not confirmed |
| Founded | 2016 | Not confirmed |
| Support channels | Email, Chat, Help centreCovers more | Email, Help centre |
Where each stands against the rest
| Fact | Freetrade | Pepperstone | Median |
|---|---|---|---|
| Account fee | £0at the median | Not confirmed | £0 |
| Retail accounts that lose money | Not confirmed | 74.1%above the median | 72.21% |
| Currency conversion fee | 0.99%highest quarter | Not confirmed | 0.45% |
| Interest on cash | 1%lowest quarter | Not confirmed | 3% |
Median across 49 listed brokers.
Pros and cons
Freetrade
Pros
- Dealing commission of £0 and an account fee of £0 keep the running cost of an ISA, SIPP or Junior ISA low.
- Regulated by the Financial Conduct Authority in the UK, with protection stated as FSCS up to GBP 85,000.
- Fractional shares and a demo account let you size positions in small amounts and practise before committing money.
Cons
- A currency conversion fee of 0.99% applies whenever you hold investments in more than one currency.
- Support runs on email, chat and help centre only, with no phone line listed for account or transfer questions.
- The account range is limited to isa, sipp and jisa, so there is no general investment account for shares outside a wrapper.
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
Freetrade
Who it suits
- UK beginners opening a stocks and shares ISA or Junior ISA with small monthly amounts
- Long-term investors who want to hold a simple share and ETF portfolio without a dealing charge
- SIPP holders who prefer an app and web platform to a phone-only service
Who should look elsewhere
- People who need a general investment account outside a tax wrapper
- Investors who trade frequently in several currencies, because the 0.99% conversion fee applies each time
- Anyone who wants to speak to support by phone, as support runs on email, chat and help centre only
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 | Freetrade | Pepperstone |
|---|---|---|
| United Kingdom | Yes | No |
Questions about each
Freetrade
How much does it cost to buy shares on Freetrade?+
The dealing charge is £0 and the account fee is £0. Those two cover the trading and holding side of a stocks and shares ISA, SIPP or Junior ISA. The charge that appears is currency conversion at 0.99%, which only shows up if part of your portfolio sits in another currency.
Who regulates Freetrade and is my money protected?+
Freetrade Limited is regulated in the UK by the Financial Conduct Authority, with register reference 783189. Protection for eligible holdings is stated as FSCS up to GBP 85,000, which is the ceiling the scheme pays if the firm cannot return your money. It covers firm failure rather than market losses.
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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