Share Trading comparison
Pepperstone vs Stake
Pepperstone and Stake look similar on the surface — low fees, no monthly platform charge — but they are fundamentally different products. Pepperstone is a CFD broker, not a share broker: you never own the underlying asset. Stake is a real brokerage that lets you buy and hold actual ASX and US shares under your own HIN. That distinction changes everything about how you trade, what you can buy, and what protections you get.
Choose
Pepperstone
if…
- ›You want to trade CFDs on global indices, currencies, commodities and shares rather than own the underlying assets
- ›You are a short-term or day trader who needs leverage, stop-losses and conditional orders on a desktop platform
- ›You want a demo account to practise strategies before risking real money
- ›You need multiple deposit methods including PayPal, Skrill and Neteller for fast funding
- ›You trade across many international markets (UK, Europe, Hong Kong) from a single account
Choose
Stake
if…
- ›You want to buy and hold actual ASX or US shares under your own HIN with CHESS sponsorship
- ›You want the lowest-cost way to trade US stocks — $3 USD brokerage and near-zero FX spread (0.0055%)
- ›You want fractional US shares so you can invest in high-priced stocks like Amazon or Google with small amounts
- ›You need an Australian tax statement and CGT reporting tools for end-of-year compliance
- ›You want to transfer an existing ASX portfolio and get 12 months of free brokerage on those holdings
Where they differ
| Fact | Pepperstone | Stake |
|---|---|---|
| What you actually buy | CFDs (derivatives) — you never own the underlying share | Real shares — you own the asset and can transfer it out |
| CHESS sponsorship / HIN | Custodian model — no individual HIN | Mixed model — individual HIN available for ASX holdings |
| ASX brokerage | $5 minimum or 0.07% | $3 minimum or 0.0001% (up to $30,000) |
| FX spread on AUD/USD | 0.5% | 0.0055% |
| Minimum initial deposit | $0 | $500 |
Verdict
If you want to own real shares under your HIN, choose Stake. If you want leveraged CFD trading, choose Pepperstone.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Pepperstone | Stake |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | — | mixed |
| Individual HIN | — | Yes |
| Individual account | Yes | Yes |
| Joint account | Yes | No |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | No | Yes |
| Kids / minor account | No | No |
| asset coverage | ||
| ASX shares supported | No | Yes |
| ASX ETFs supported | No | Yes |
| US shares supported | No | Yes |
| US ETFs supported | No | Yes |
| Other markets supported | US, UK, DE, FR, HK, BE, CH, DK, NO, SE, FI, IE, PT, ES, AT, AU | United States |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | Yes |
| Options trading | No | No |
| CFDs supported | Yes | No |
| Managed funds | No | No |
| Bonds supported | No | Yes |
| IPO access | No | — |
| costs hidden | ||
| FX spread (AUD/USD) | 50% | 0.55% |
| FX spread (other currencies) | 50% | — |
| Holds USD account | Yes | Yes |
| FX currency switch trick | No | Yes |
| Market data fees | $0/month | $0/month |
| Conditional order fees | $0 | $0 |
| Corporate action fees | Not applicable — Pepperstone offers share CFDs only, not real shares. Clients have no entitlement to rights issues, SPPs, takeover offers or shareholder voting. Dividend adjustments are passed through as cash entries on share CFD positions (credited on longs, debited on shorts, with franking credits not passed through). | Corporate actions (dividends, SPPs, rights issues, takeovers) are passed through where mandatory; Stake does not provide a DRP — investors must elect DRP directly with each company's share registry. No published per-event fee. |
| costs visible | ||
| ASX brokerage minimum | — | $3 |
| ASX brokerage percentage | — | 0.01% |
| ASX brokerage threshold | — | $30,000 |
| ASX free trade conditions | — | No free-trade promotion ordinarily offered; brokerage waived for 12 months on transferred ASX holdings worth A$1,000+ |
| US brokerage minimum | — | US$3 |
| US brokerage percentage | — | 0.01% |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $0 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | — | $0 |
| identity and trust | ||
| Legal entity name | Pepperstone Group Limited | Stakeshop Pty Ltd |
| AFSL number | 414,530 | 548,196 |
| Year founded | 2,010 | 2,017 |
| Parent / ownership | Privately held. Majority owner FX Group Holdings (Fiona Lock, CEO Tamas Szabo and Andrew Defina) acquired the 60% stake previously held by CPE Capital (formerly CHAMP Private Equity) in 2018; founders Owen Kerr and Joe Davenport retain the remaining 40%. | Privately held (Stakeshop AFSL Pty Ltd group); investors include AGL Energy's former CEO and various private investors |
| Country of incorporation | AU | AU |
| Public company status | private | private |
| money movement | ||
| Minimum initial deposit | $0 | $500 |
| Minimum subsequent purchase | $0 | $20 |
| Deposit methods | PayID, BPAY, bank transfer, debit card, credit card, PayPal, Apple Pay, Google Pay, Neteller, Skrill | Bank transfer (Osko/PayID), Apple Pay, Google Pay, Debit card, Credit card |
| Settlement period | N/A (CFDs are not settled — positions are open derivative contracts marked-to-market continuously, with overnight swap charges in lieu of settlement) | T+2 for ASX; T+1 for US |
| Withdrawal time | Up to 2 business days for cards, PayID, BPAY and domestic bank transfer; up to 1 business day for PayPal/Neteller/Skrill. | 1-2 business days for AUD (Stake AUS); 2-3 US business days for USD (Stake Wall St) |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | No |
| Demo account | Yes | No |
| Free real-time market data | Yes | Yes |
| Free research reports | Yes | Yes |
| 2FA support | authenticator | authenticator app |
| Customer support channels | phone, email, live chat | Email, In-app chat, Help centre |
| Support hours (AU time) | 24/5 (Monday morning AEST to Saturday morning AEST), with 18 hours coverage on weekends; Melbourne-based Australian support team available during AEST business hours. | Business hours AEST/AEDT (approximately Mon-Fri); chat/email response varies |
| Education content | video + courses | structured courses |
| tax and reporting | ||
| Australian tax statement | No | Yes |
| Distribution component breakdown | No | No |
| CGT calculator / report | No | Yes |
| Sharesight / Navexa integration | No | Yes |
| trading mechanics | ||
| Market orders | Yes | Yes |
| Limit orders | Yes | Yes |
| Stop loss orders | Yes | Yes |
| Conditional orders | Yes | No |
| Auto-invest / DCA | No | No |
| Auto-invest sophistication | none | none |
| DRP (dividend reinvestment) | No | No |
| After-hours / overnight trading | Yes | Yes |