PepperstoneStock Broker ReviewHas commissions

Pepperstone for stocks: integrated equity CFDs on a multi-platform broker

Pepperstone offers share CFDs on over 1,000 global stocks across US (NYSE, Nasdaq), UK (LSE), German (XETRA), and Australian (ASX) markets. All share CFDs are accessible on the same account as Pepperstone's forex range, meaning traders can manage equity and FX positions simultaneously on MT4, MT5, cTrader, or TradingView.

How share CFD trading works at Pepperstone

Pepperstone's share CFDs are priced as variable spreads with a commission overlay, rather than pure spread-only pricing. UK share CFDs carry a commission of 0.07% per side (min £7), and US shares are typically 2 cents per share. This commission-plus-spread structure is more cost-transparent than spread-only models and is broadly competitive for CFD access to equities.

IRESS for DMA equity access

Pepperstone also integrates IRESS for traders who want genuine Direct Market Access (DMA) to equity markets, particularly Australian shares on the ASX. IRESS provides live Level II market depth and direct exchange routing. A monthly platform fee applies for lower-volume IRESS users, but it's a meaningful step up from standard CFDs.

Regulation

Pepperstone is regulated by the FCA (UK), ASIC (Australia), CySEC (EU), BaFin (Germany), DFSA (UAE), and FMA (New Zealand). This multi-jurisdictional regulatory stack provides strong investor protections across the major global markets Pepperstone serves.

Limitations

At 1,000+ stocks, Pepperstone's range is narrower than CMC Markets (10,000+) or dedicated stockbrokers. There is no real share ownership, ISA or SIPP wrapper, or dividend reinvestment plan. Pepperstone's stock range is most relevant as a supplement to an existing forex trading account, not as a primary equity broker.

Bottom line

Pepperstone is a solid choice for existing Pepperstone forex clients who want to add equity CFD exposure to their trading portfolio without opening a separate stock broker account. For clients who need a dedicated equity account with a wide share range, ISA wrappers, or real ownership, a specialist stockbroker is the better option.