Share Trading comparison
Pepperstone vs tastytrade
Pepperstone and tastytrade look similar on the surface — both are zero-platform-fee brokers with no ASX trading — but they serve completely different purposes. Pepperstone is a CFD provider, meaning you never actually own the underlying asset. tastytrade is a real US equities and options broker, so you get genuine shares and options contracts under a custodian model.
Choose
Pepperstone
if…
- ›You want to trade CFDs on global markets including US, UK, European, Hong Kong and Australian indices without owning the underlying asset
- ›You need a wide range of deposit methods including PayID, BPAY, credit card, PayPal and even Neteller/Skiller
- ›You want a demo account and 24/5 support with a Melbourne-based team available during AEST business hours
- ›You're comfortable with FX spreads of 0.5% on AUD/USD conversions and derivative-style overnight swap charges instead of settlement
Choose
tastytrade
if…
- ›You want to trade real US equities, ETFs and options — not CFDs — with $0 US brokerage per trade
- ›You're an active options trader who wants a platform built from the ground up for multi-leg option strategies
- ›You need CGT reporting tools and Sharesight/Navexa integration for Australian tax record-keeping
- ›You're happy to fund via international wire and can work around US Central Time support hours (roughly 10pm-8am AET)
Where they differ
| Fact | Pepperstone | tastytrade |
|---|---|---|
| Asset type | CFDs only (derivatives) | Real US equities, ETFs, options and bonds |
| US brokerage fee | 0.02 USD minimum | $0 USD |
| Options trading | Not supported | Full options trading supported |
| Deposit methods | PayID, BPAY, bank transfer, debit/credit card, PayPal, Apple Pay, Google Pay, Neteller, Skrill | International wire (USD), ACH (US only), cheque (US only) |
| Support hours (AET) | 24/5 with Melbourne-based team during AEST business hours | ~10pm-8am AET weekdays, no AU business-hours coverage |
Verdict
Choose Pepperstone for CFD trading with Aussie-friendly deposits; choose tastytrade for real US equities and options at zero commission.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Pepperstone | tastytrade |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | — | custodian |
| Individual HIN | — | No |
| Individual account | Yes | Yes |
| Joint account | Yes | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | No | No |
| Kids / minor account | No | No |
| asset coverage | ||
| ASX shares supported | No | No |
| ASX ETFs supported | No | No |
| 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 | |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | No |
| Options trading | No | Yes |
| CFDs supported | Yes | No |
| Managed funds | No | No |
| Bonds supported | No | Yes |
| IPO access | No | No |
| costs hidden | ||
| FX spread (AUD/USD) | 50% | — |
| FX spread (other currencies) | 50% | — |
| Holds USD account | Yes | Yes |
| FX currency switch trick | No | No |
| 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). | Standard US corporate action processing applies (dividends, splits, mergers). Mandatory corporate actions are processed at no fee; voluntary corporate actions (e.g. tender offers) may incur a fee per tastytrade's fee schedule. |
| costs visible | ||
| ASX free trade conditions | — | Not applicable — tastytrade does not offer ASX trading. |
| US brokerage minimum | — | US$0 |
| US brokerage percentage | — | 0% |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $0 | $0 |
| Withdrawal fee (AUD) | $0 | — |
| identity and trust | ||
| Legal entity name | Pepperstone Group Limited | tastytrade, Inc. |
| AFSL number | 414,530 | — |
| 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%. | IG Group Holdings plc (LSE: IGG) |
| Country of incorporation | AU | US |
| Public company status | private | public |
| money movement | ||
| Minimum initial deposit | $0 | $0 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | PayID, BPAY, bank transfer, debit card, credit card, PayPal, Apple Pay, Google Pay, Neteller, Skrill | international wire (USD), ACH (US only), check (US only) |
| 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+1 (US equities/ETFs, from May 2024) |
| Withdrawal time | Up to 2 business days for cards, PayID, BPAY and domestic bank transfer; up to 1 business day for PayPal/Neteller/Skrill. | International wire withdrawals to AU typically 3-5 business days |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | Yes |
| Demo account | Yes | Yes |
| Free real-time market data | Yes | Yes |
| Free research reports | Yes | No |
| 2FA support | authenticator | authenticator app |
| Customer support channels | phone, email, live chat | phone, email, live chat |
| 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. | Monday-Friday, approx. 7am-5pm US Central Time = approx. 10pm-8am AET (next day). Weekend support limited. No AU business-hours coverage. |
| Education content | video + courses | video + courses |
| tax and reporting | ||
| Australian tax statement | No | No |
| 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 | Yes |
| Auto-invest / DCA | No | No |
| Auto-invest sophistication | none | none |
| DRP (dividend reinvestment) | No | No |
| After-hours / overnight trading | Yes | Yes |