Pepperstone vs Plus500
Client money is held by Pepperstone Limited, which the FCA, FRN 684312, has authorised since 5 Aug 2015. Client money is held by Plus500UK Ltd, which the FCA, FRN 509909, has authorised since 29 Jun 2010.
Pepperstone and Plus500 side by side
Every figure comes from the broker itself, along with the date on which we read it. They are listed in the order people search for them, not as a preference.
| Fact | Pepperstone | Plus500 |
|---|---|---|
| UK firm | Pepperstone Limited | Plus500UK Ltd |
| FRN | 684312 | 509909 |
| Regulatory status | Authorised | Authorised |
| Authorised since | 5 Aug 2015 | 29 Jun 2010 |
| Clone firms on the register | 3 | 12 |
| Retail CFD accounts that lose money | 73.6%, read 2 Nov 2026 | 76%, read 2 Nov 2026 |
| EUR/USD spread as stated | 0 pips (minimum, Razor) | Not stated |
| Smallest deposit | £10 | Not stated |
| Inactivity fee | no inactivity fee | USD 10 per month at most, after at least three months with no login |
| Withdrawal fee | free (GBP 15 for a wire transfer to an overseas bank account)) | no charge (We Don’t Charge Deposit & Withdrawal Fees); charges may apply if you take out less than the stated minimum |
| Withdrawal time | cards, Apple Pay and Google Pay take 1 working day at most; bank transfers take up to 7 working days | Processing normally takes 1-3 working days; e-wallets take 3-7, while bank transfers take 5-7. |
| CFDs | Yes | Yes |
| Spread betting | Yes | Not stated |
| Retail leverage | 1:30 on major currency pairs; 1:20 on major indices and gold; 1:10 on other commodities; 1:5 on shares | 1:30 on Forex CFDs; 1:5 on share CFDs |
| Platforms | MT4, MT5, cTrader, TradingView, Pepperstone platform | Plus500 trading platform (web and app) |
| Demo account | Yes | Yes |
| Negative balance protection | Yes | Yes |
| iPhone app rating, UK App Store | 4.12 of 5 (92 ratings) | 4.25 of 5 (7,849 ratings) |
Both brokers have the same FCA status. The same goes for CFDs, the demo account and negative balance protection.
Source pages: pepperstone.com/en-gb, read 2 Nov 2026; plus500.com/en-GB, read 2 Nov 2026; pepperstone.com/en-gb/trading/costs-and-fees, read 2 Nov 2026; pepperstone.com/en-gb/trading/funding-methods, read 2 Nov 2026; plus500.com/en-gb/aboutus, read 2 Nov 2026.
How the two loss rates stand against the wider field
The full risk warning from each broker
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. When retail investors trade spread bets and CFDs with this provider, 73.6% of their accounts lose money. Think about whether spread bets and CFDs work in a way you understand, and whether the high risk of losing your money is affordable for you.
The wording here is Pepperstone's own, taken from pepperstone.com, read 2 Nov 2026.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. When retail investors trade CFDs with this provider, 76% of their accounts lose money. You should consider whether you know how CFDs work, and whether losing your money at that level of risk is something you can afford.
Plus500's own words, published on plus500.com, read 2 Nov 2026.