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Pepperstone vs XS for US stocks
Both give you CFD exposure without ownership, so the decision comes down to cost, country eligibility and platform.
Pick Pepperstone if non-US residents trading US shares as CFDs. Pick XS if non-US residents who want a wide US share-CFD list on MetaTrader 4 or 5.
CFD — no ownershipA 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 Pepperstone
CFD — no ownershipA multi-asset CFD broker, not a US stockbroker. It is on this site because it gives non-US traders leveraged exposure to several hundred US share prices with no minimum deposit.
Visit XSSide by side
| Pepperstone | XS | |
|---|---|---|
| What you hold | A CFD on the price | A CFD on the price |
| US stock access | 1,000+ US share CFDs | 550+ US share CFDs |
| Minimum deposit | $10 | None |
| Fractional shares | n/a | n/a |
| 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. | US share CFDs on the Standard account trade on a floating spread with no separate commission; swaps apply to positions held overnight and are tripled on Fridays. |
| Platforms | MetaTrader 4, MetaTrader 5, cTrader, TradingView | MetaTrader 4, MetaTrader 5, XS Trading App |
| Extended hours | Selected US share CFDs only — check the instrument schedule | Regular US session only, per its published trading hours |
| Regulation | FCA 684312, ASIC 414530, CySEC 388/20, DFSA F004356, BaFin 151148 | ASIC 374409, CySEC 412/22, FSCA 53199, CMA 20200000339, FSA SD089, LFSA MB/21/0081, FSC GB25204786 |
| Founded | 2010 | 2010 |
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
XS
- Non-US residents who want a wide US share-CFD list on MetaTrader 4 or 5
- Starting with no minimum deposit on the Standard account
- Traders who want an entity licensed in the UAE, South Africa or Labuan
- CFDs are leveraged: you do not own the share, get no shareholder rights, and can lose all your capital
- XS says its website is not directed at residents of the United States, the European Union, Australia or Japan
- Which XS entity holds your account depends on where you live, and investor protection differs by entity — confirm it before depositing
- Dividends arrive as cash adjustments on open CFD positions, not as shareholder dividends
Frequently asked questions
Pepperstone or XS — which is better for US stocks?
Both give you CFD exposure without ownership, so the decision comes down to cost, country eligibility and platform. Pepperstone: non-US residents trading US shares as CFDs. XS: non-US residents who want a wide US share-CFD list on MetaTrader 4 or 5.
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. XS: US share CFDs on the Standard account trade on a floating spread with no separate commission; swaps apply to positions held overnight and are tripled on Fridays. 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; XS by ASIC, CySEC, FSCA, CMA, FSA, LFSA, FSC. What matters is which entity holds your account, since that determines your compensation scheme and leverage limits.
Reviewed October 2026. Figures restated from each broker's published pages.