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Pepperstone vs Fidelity for US stocks
Fidelity gives you the actual share; Pepperstone gives leveraged exposure to the price without ownership. That is not a preference — it is a different product, with different tax, dividend and risk treatment.
Pick Pepperstone if non-US residents trading US shares as CFDs. Pick Fidelity if retirement accounts.
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.
Visit PepperstoneStrongest on the long-term-investor side: research, cash management and low-cost index funds.
Visit FidelitySide by side
| Pepperstone | Fidelity | |
|---|---|---|
| What you hold | A CFD on the price | The share |
| US stock access | 1,000+ US share CFDs | Full US listed market |
| Minimum deposit | None | None |
| Fractional shares | n/a | Yes |
| 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. | $0 commission on online US stock and ETF trades. |
| Platforms | MetaTrader 4, MetaTrader 5, cTrader, TradingView | Fidelity.com, Active Trader Pro, Fidelity Mobile |
| Extended hours | Selected US share CFDs only — check the instrument schedule | Extended-hours trading supported |
| Regulation | FCA 684312, ASIC 414530, CySEC 388/20, DFSA F004356, BaFin 151148 | SEC SIPC member |
| Founded | 2010 | 1946 |
Where each one wins
Pepperstone
- Non-US residents trading US shares as CFDs
- Leveraged short-term positions
- MetaTrader and TradingView users
- 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
Fidelity
- Retirement accounts
- Buy-and-hold investors
- Fractional investing in dollar amounts
- Primarily a US-resident offering
Frequently asked questions
Pepperstone or Fidelity — which is better for US stocks?
Fidelity gives you the actual share; Pepperstone gives leveraged exposure to the price without ownership. That is not a preference — it is a different product, with different tax, dividend and risk treatment. Pepperstone: non-US residents trading US shares as CFDs. Fidelity: retirement accounts.
Which is cheaper?
Pepperstone: US share CFDs are commission-based on the Razor account and spread-based on Standard; overnight financing applies to positions held past the close. Fidelity: $0 commission on online US stock and ETF trades. Both figures are restated from each broker's own pricing page; for small non-USD accounts, currency conversion usually costs more than commission does.
Which is better regulated?
Pepperstone is authorised by FCA, ASIC, CySEC, DFSA, BaFin; Fidelity by SEC. What matters is which entity holds your account, since that determines your compensation scheme and leverage limits.
Reviewed August 2026. Figures restated from each broker's published pages.