Updated October 17, 2026 · BrokerCue Editorial Team
Nutmeg vs Pepperstone
Where Nutmeg and Pepperstone differ
| Compare |  Nutmeg | Pepperstone ReviewVisitVisit |
|---|---|---|
| Minimum deposit | £500 | $10 |
| Stock trade fee | £0 | $0.020 |
| Markets | ETFs, Funds, Stocks, Bonds | Stocks, ETFs, Forex, CFDs, Crypto, Metals |
| Platforms | Web, Mobile app | TradingView, MetaTrader 4, MetaTrader 5, CTrader, Pepperstone platform |
| Regulators | Financial Conduct Authority | Not confirmed |
| Investor protection | FSCS up to GBP 85,000 | Not confirmed |
| Retail accounts that lose money | Not confirmed | 74.1% |
| Deposit and withdrawal fees | no set-up, trading or exit fees | Not confirmed |
| Account types | ISA, SIPP | Not confirmed |
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Key differences
- Markets: only Nutmeg offers Funds, Bonds.
- Markets: only Pepperstone offers Forex, CFDs, Crypto.
- Platforms: only Nutmeg offers Web, Mobile app.
- Platforms: only Pepperstone offers TradingView, MetaTrader 4, MetaTrader 5.
- Support channels: only Nutmeg offers Chat, Phone.
Our verdict on each
Nutmeg
Nutmeg suits UK investors who want a managed portfolio held in an ISA or SIPP rather than a self-directed dealing account. The cost of that convenience is a single management fee of 0.25% to 0.75%, with a £0 stock trade fee and FSCS protection of FSCS up to GBP 85,000 in place.
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 | Nutmeg | Pepperstone |
|---|---|---|
| Cost | 9.0HigherManagement fees of 0.25% to 0.75% run above the robo-adviser median of 0.35%, and the entry floor is high. | 8.9 |
| Offer | 9.6Higher | 9.5 |
| Trust | 9.1 | Not confirmed |
Where they rank in our lists
| Ranking | Nutmeg | Pepperstone |
|---|---|---|
| Stock and ETF brokers | 101 of 471 | 22 of 471 |
Feature by feature
| Markets | Nutmeg | 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
Nutmeg
- nutmeg.com: 5 facts, checked September 26, 2026
- investing-reviews.co.uk: 3 facts, checked September 26, 2026
- register.fca.org.uk: 2 facts, checked September 26, 2026
- compareandinvest.co.uk: 1 fact, checked September 26, 2026
- jpm-personal-investing-marketing.cdn.prismic.io: 1 fact, checked September 26, 2026
Pepperstone
- pepperstone.com: 6 facts, checked October 17, 2026
Every fact side by side
| Fact | Nutmeg | Pepperstone |
|---|---|---|
| Features | Mobile app | Not confirmed |
| Pricing model | Commission free | Not confirmed |
| Legal entity | J.P. Morgan Personal Investing Limited | Not confirmed |
| Headquarters | United Kingdom | Not confirmed |
| Founded | 2012 | Not confirmed |
| Support channels | Email, Chat, Phone, Help centreCovers more | Email, Help centre |
Where each stands against the rest
| Fact | Nutmeg | Pepperstone | Median |
|---|---|---|---|
| Retail accounts that lose money | Not confirmed | 74.1%above the median | 72.21% |
Median across 49 listed brokers.
Pros and cons
Nutmeg
Pros
- One ongoing charge to read: management fees of 0.25% to 0.75%, with no set-up, trading or exit fees on top.
- Holdings span etfs, funds and stocks, so a managed basket can still cover a wide spread of asset types.
- Regulated by the Financial Conduct Authority, with FSCS protection of FSCS up to GBP 85,000 behind the account.
Cons
- Management fees of 0.25% to 0.75% sit above the robo-adviser median of 0.35%, and the cost rises as the balance grows.
- The opening deposit is £500 and later money goes in from £100 to £500, higher than the robo-adviser median of €60.06.
- The portfolio range is etf, esg and cash only, so there is no crypto or thematic option to tilt towards.
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
Nutmeg
Who it suits
- UK investors who want a managed portfolio inside an ISA or a SIPP and accept a single ongoing charge for the service.
- People who would rather not research individual funds, since the holdings run to etf, esg and cash approaches chosen and held for you.
- Investors who want a phone line as well as written support, since email, chat and phone includes phone, chat, email and a help centre.
Who should look elsewhere
- Anyone starting with a small first payment, since the £500 deposit is well above the robo-advisor lower quartile of €0, and Axos Invest begins at $100 in US dollars.
- Shoppers who want the lowest ongoing charge, since eToro runs a 0% management fee and Vivid Standard charges 0.5% to 1.5%, against Nutmeg's 0.25% to 0.75%.
- Investors who want accounts in US dollars, because Axos Invest takes $100 in dollars while Nutmeg's £100 to £500 sits in pounds.
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.
Current offers
Nutmeg
Current offer
Bonus
Earn £100 when you invest £1,000: GBP 100 cash reward
Invest at least £1,000 in one payment into a General Investment Account, Stocks and Shares ISA, Lifetime ISA, Junior ISA or Personal Pension and keep it invested for at least 6 months; new contributions only, transfers excluded; reward paid as unallocated cash within 55 days; new clients only, cannot be combined with other new-client offers
Source, checked September 26, 2026
Country by country
| Country | Nutmeg | Pepperstone |
|---|---|---|
| United Kingdom | Yes | No |
Questions about each
Nutmeg
What does Nutmeg charge to manage my money?+
The charge is a single management fee of 0.25% to 0.75%, which sits above the robo-adviser median of 0.35% in this group. There are no set-up, trading or exit fees to add on top. Money can go in from £100 to £500, so the cost is a percentage of what you hold rather than a price per deal.
How much do I need to open an account?+
The minimum deposit is £500, and once the account is open money can go in from £100 to £500. That first payment is the step most readers notice, and it sits above the lower quartile of €0 across robo-advisers here.
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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