Updated October 17, 2026 · BrokerCue Editorial Team
Pepperstone vs TradeStation
What sets them apart
| Compare |  Pepperstone |  TradeStation |
|---|---|---|
| Minimum deposit | $10 | $0Lower |
| Stock trade fee | $0.020 | $0Lower |
| Markets | Stocks, ETFs, Forex, CFDs, Crypto, Metals | Stocks, ETFs, Forex, Options, Futures, Crypto, Bonds, Funds |
| Platforms | TradingView, MetaTrader 4, MetaTrader 5, CTrader, Pepperstone platform | TradeStation desktop, Web, Mobile |
| Inactivity fee | Not confirmed | $10 |
| Regulators | Not confirmed | SIPC |
| Investor protection | Not confirmed | SIPC up to USD 500,000 |
| Retail accounts that lose money | 74.1% | Not confirmed |
| Currency conversion fee | Not confirmed | 0.5% |
| Options contract fee | Not confirmed | $0.50 |
| Deposit and withdrawal fees | Not confirmed | free deposits |
| Account types | Not confirmed | IRA, Joint, Corporate |
| Interest on cash | Not confirmed | 0.15% |
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Key differences
- Minimum deposit is lower at TradeStation: $0 vs $10.
- Stock trade fee is lower at TradeStation: $0 vs $0.020.
- Markets: only Pepperstone offers CFDs, Metals.
- Markets: only TradeStation offers Options, Futures, Bonds.
- Platforms: only Pepperstone offers TradingView, MetaTrader 4, MetaTrader 5.
- Platforms: only TradeStation offers TradeStation desktop, Web, Mobile.
- Support channels: only TradeStation offers Chat, Phone.
Our verdict on each
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.
TradeStation
TradeStation suits experienced traders who want one account spanning stocks, options, futures and forex, and it is headed in the US. Stock trades cost $0, options run $0.50 a contract, deposits are free deposits, and an inactivity fee of $10 applies to dormant accounts.
Score breakdown
| Area | Pepperstone | TradeStation |
|---|---|---|
| Cost | 8.9 | 9.2HigherStock trades cost $0, deposits are free deposits and inactivity costs $10. |
| Offer | 9.5Higher | 9.4One account spans stocks, etfs and forex with ira, joint and corporate accounts and TradeStation desktop, web and mobile. |
| Trust | Not confirmed | 9.2 |
Where each is licensed and available
| Country | Pepperstone | TradeStation |
|---|---|---|
| United States | Not confirmed | SIPC SIPC member 48711 |
Side by side, item by item
| Markets | Pepperstone | TradeStation |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | Yes | Yes |
| CFDs | Yes | No |
| Options | No | Yes |
| Futures | No | Yes |
| Crypto | Yes | Yes |
| Bonds | No | Yes |
| Funds | No | Yes |
| Metals | Yes | No |
What we checked
Pepperstone
- pepperstone.com: 6 facts, checked October 17, 2026
TradeStation
- brokerchooser.com: 4 facts, checked September 26, 2026
- financer.com: 4 facts, checked September 26, 2026
- nerdwallet.com: 3 facts, checked September 26, 2026
- sipc.org: 3 facts, checked September 26, 2026
- en.wikipedia.org: 2 facts, checked September 26, 2026
How they place
| Ranking | Pepperstone | TradeStation |
|---|---|---|
| Stock and ETF brokers | 22 of 471 | 104 of 471 |
Every fact side by side
| Fact | Pepperstone | TradeStation |
|---|---|---|
| Features | Not confirmed | Crypto, Fractional shares, Options, Futures, Mobile app |
| Pricing model | Not confirmed | Commission free, Low fees |
| Audience | Not confirmed | Experienced, Day traders |
| Legal entity | Not confirmed | TRADESTATION SECURITIES INC |
| Headquarters | Not confirmed | United States |
| Founded | Not confirmed | 1982 |
| Support channels | Email, Help centre | Email, Chat, Phone, Help centreCovers more |
Where each stands against the rest
| Fact | Pepperstone | TradeStation | Median |
|---|---|---|---|
| Minimum deposit | $10below the median | $0below the median | $25 |
| Stock trade fee | $0.020above the median | $0at the median | $0 |
| Inactivity fee | Not confirmed | $10above the median | $0 |
| Retail accounts that lose money | 74.1%above the median | Not confirmed | 72.21% |
| Currency conversion fee | Not confirmed | 0.5%above the median | 0.45% |
| Options contract fee | Not confirmed | $0.50below the median | $0.625 |
Median across 136 listed brokers.
Pros and cons
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.
TradeStation
Pros
- One login covers stocks, etfs and forex, so equities, derivatives and bonds trade side by side without extra logins.
- Stock trades cost $0 and deposits are free deposits, so there is nothing extra to fund the account.
- Platforms run from TradeStation desktop, web and mobile, so charts and order tickets travel with you between desk and phone.
Cons
- An inactivity fee of $10 applies, so a dormant balance keeps being charged rather than left alone.
- Options contracts are charged at $0.50 each, even though the equity model is listed as commission free and low fees.
- Currency conversion costs 0.5%, so trading across currencies adds a cut to the trade price.
Who each suits
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.
TradeStation
Who it suits
- Experienced traders who already know which markets they want to reach and trade them often
- Day traders who need desktop, web and mobile order entry on one and the same account
- Retirement savers who want one account that also carries options, futures and forex markets
Who should look elsewhere
- Readers who trade a single asset class: CFI covers stocks, etfs and forex and stops short of the bonds and funds here
- Readers who prefer the eToro route, where stocks, etfs and forex leaves out the bond and fund side of this account
- Readers who want a published entry threshold: Vantage lists a minimum deposit of $5 against the $0 here
Country by country
| Country | Pepperstone | TradeStation |
|---|---|---|
| United States | No | Yes |
Questions about each
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.
TradeStation
How much does TradeStation charge to buy shares?+
Stock trades are commission free at $0, and options are charged separately at $0.50 per contract. Currency conversion costs 0.5%, while deposits are free deposits, so the everyday cost of trading sits in the currency line rather than the share price.
Is my money protected at TradeStation?+
TradeStation sits under SIPC in the US, with investor protection of SIPC up to USD 500,000 and a member reference of SIPC member 48711. That cover applies to securities held if the firm fails, not to losses on a falling position.
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