Pepperstone review: trading US stocks
A CFD and spread-betting broker, not a US stockbroker. It is on this site because for most non-US traders it is one of the few regulated routes to US-share exposure with leverage.
In one line: Pepperstone gives leveraged exposure to US share prices without ownership, founded 2010, headquartered in Melbourne, Australia, regulated by FCA, ASIC, CySEC, DFSA, BaFin, with no minimum deposit and access to 1,000+ US share CFDs.
The facts
| What you actually hold | A contract for difference on the share price |
|---|---|
| US stock access | 1,000+ US share CFDs |
| Fractional shares | Not applicable to CFD sizing |
| Minimum deposit | None |
| Published pricing | US share CFDs are commission-based on the Razor account and spread-based on Standard; overnight financing applies to positions held past the close. Source |
| Platforms | MetaTrader 4, MetaTrader 5, cTrader, TradingView |
| Extended hours | Selected US share CFDs only — check the instrument schedule |
| Founded / HQ | 2010 · Melbourne, Australia |
| Regulation | FCA — United Kingdom (684312); ASIC — Australia (414530); CySEC — Cyprus (388/20); DFSA — UAE (DIFC) (F004356); BaFin — Germany (151148) |
Best for
- Non-US residents trading US shares as CFDs
- Leveraged short-term positions
- MetaTrader and TradingView users
Watch out for
- CFDs are leveraged: you do not own the share, get no shareholder rights, and can lose more than you expect
- Not available to US residents
Frequently asked questions
Is Pepperstone good for US stocks?
A CFD and spread-betting broker, not a US stockbroker. It is on this site because for most non-US traders it is one of the few regulated routes to US-share exposure with leverage. Positions are CFDs, so you never own the share: dividends arrive as cash adjustments and financing is charged nightly.
Do you own the shares with Pepperstone?
No. Pepperstone offers contracts for difference on US share prices. You get price exposure with leverage, but no ownership, no voting rights and no actual dividend.
What does Pepperstone cost for US stocks?
US share CFDs are commission-based on the Razor account and spread-based on Standard; overnight financing applies to positions held past the close. The authoritative figure is on Pepperstone's own pricing page, linked on this profile — we restate it rather than estimating it.
Is Pepperstone regulated?
Pepperstone holds authorisations from FCA (United Kingdom, licence 684312); ASIC (Australia, licence 414530); CySEC (Cyprus, licence 388/20); DFSA (UAE (DIFC), licence F004356); BaFin (Germany, licence 151148). Which entity holds your account — and therefore which protections apply — depends on your country of residence.
What is the minimum to open a Pepperstone account?
Pepperstone does not require a minimum deposit, though a practical minimum is set by the price of what you want to buy and any currency conversion cost.
Reviewed August 2026. Every figure above is restated from Pepperstone's own published pages, linked in the table.