Updated October 17, 2026 · BrokerCue Editorial Team
Kraken vs Pepperstone
What sets them apart
| Compare |  Kraken |  Pepperstone |
|---|---|---|
| Minimum deposit | $1Lower | $10 |
| Stock trade fee | $0Lower | $0.020 |
| Markets | Stocks, ETFs, Forex, Crypto, Futures | Stocks, ETFs, Forex, CFDs, Crypto, Metals |
| Platforms | Kraken App, Kraken Pro, Kraken Desktop, Kraken Wallet | TradingView, MetaTrader 4, MetaTrader 5, CTrader, Pepperstone platform |
| Regulators | Central Bank of Ireland, Cyprus Securities and Exchange Commission, Financial Conduct Authority, Financial Crimes Enforcement Network, Central Bank of Ireland (CBI) | Not confirmed |
| Investor protection | EU ICS up to EUR 20,000 | Not confirmed |
| Retail accounts that lose money | Not confirmed | 74.1% |
| Deposit and withdrawal fees | Free bank deposits, card 3.75% + 0.25 | Not confirmed |
| Maximum retail leverage | Up to 10x | Not confirmed |
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Key differences
- Minimum deposit is lower at Kraken: $1 vs $10.
- Stock trade fee is lower at Kraken: $0 vs $0.020.
- Markets: only Kraken offers Futures.
- Markets: only Pepperstone offers CFDs, Metals.
- Platforms: only Kraken offers Kraken App, Kraken Pro, Kraken Desktop.
- Platforms: only Pepperstone offers TradingView, MetaTrader 4, MetaTrader 5.
Our verdict on each
Kraken
Kraken suits beginners and experienced investors who want stocks, ETFs and crypto together through app and desktop access. Stock dealing is priced at $0 with entry at $1 and funding terms shown as Free bank deposits, card 3.75% + 0.25 for cost planning across small balance accounts.
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 | Kraken | Pepperstone |
|---|---|---|
| Cost | 9.3HigherStock dealing is priced at $0 with entry at $1. | 8.9 |
| Offer | 9.0Coverage spans stocks, ETFs and forex accessed through Kraken App, Kraken Pro and Kraken Desktop. | 9.5Higher |
| Trust | 9.3Registers cite 1010381 and 31000270997766. | Not confirmed |
Choosing between them
Pick Kraken if cost, minimum deposit, and stock trade fee matter most.
Pick Pepperstone if offer matter most.
Positions in our rankings
| Ranking | Kraken | Pepperstone |
|---|---|---|
| Stock and ETF brokers | 21 of 474 | 22 of 474 |
| Forex brokers | 8 of 150 | 9 of 150 |
| Low-spread forex brokers | 8 of 149 | 9 of 149 |
Licences and countries
| Country | Kraken | Pepperstone |
|---|---|---|
| Ireland | Central Bank of Ireland (CBI) MiCA CASP 9845003D98SCC2851458 IE_CBI PSD_EMI IE_CBI!C453020 | Not confirmed |
| United States | SIPC SIPC member 71030 | Not confirmed |
Sources behind this comparison
Kraken
- kraken.com: 9 facts, checked September 28, 2026
- support.kraken.com: 2 facts, checked September 28, 2026
Pepperstone
- pepperstone.com: 6 facts, checked October 17, 2026
Every fact side by side
| Fact | Kraken | Pepperstone |
|---|---|---|
| Features | Crypto, Mobile app | Not confirmed |
| Pricing model | Commission free | Not confirmed |
| Audience | Beginners, Experienced | Not confirmed |
| Support channels | Not confirmed | Email, Help centre |
Where each stands against the rest
| Fact | Kraken | Pepperstone | Median |
|---|---|---|---|
| Minimum deposit | $1below the median | $10below the median | $25 |
| Stock trade fee | $0at the median | $0.020above the median | $0 |
| Retail accounts that lose money | Not confirmed | 74.1%above the median | 72.21% |
Median across 137 listed brokers.
Pros and cons
Kraken
Pros
- Stock trades priced at $0 within a model shown as commission free.
- Entry at $1, below $50 at eToro for smaller starting balances.
- Coverage spans stocks, ETFs and forex, pairing stocks and ETFs with crypto and futures.
Cons
- Support runs on help centre only, without phone or live chat help found at many rivals.
- Card funding terms run Free bank deposits, card 3.75% + 0.25, which adds cost next to bank transfer options.
- Entry at $1 sits above $0 at ActivTrades and €0 at XTB for tight budgets.
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
Kraken
Who it suits
- You want stocks plus crypto in stocks, ETFs and forex in a single login rather than an equity only account at XTB.
- You want app led dealing through Kraken App, Kraken Pro and Kraken Desktop with modest entry at $1 rather than higher entry at eToro at $50.
Who should look elsewhere
- You want phone or chat help rather than help centre only, consider XTB or ActivTrades for wider contact choice.
- You want the lowest cash entry rather than $1, consider ActivTrades at $0 or XTB at €0.
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.
Questions about each
Kraken
What does Kraken charge for stock trades+
Stock dealing is priced at $0 and Kraken describes its model as commission free. Bank funding is framed separately as Free bank deposits, card 3.75% + 0.25, so card use adds cost while bank transfer terms remain distinct. Check the fee schedule before placing orders.
What is the minimum deposit to open an account+
Account entry is set at $1. That level sits below $50 at eToro, yet above $0 at ActivTrades and €0 at XTB. It keeps starting balances modest while leaving room for funding charges.
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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