Share Trading comparison
moomoo vs Pepperstone
Moomoo and Pepperstone look like trading platforms, but they're fundamentally different products. Moomoo is a real CHESS-sponsored share broker where you buy and own ASX and US stocks under your own HIN. Pepperstone is a CFD provider — you never own the underlying shares, you trade derivative contracts. That distinction changes everything about fees, tax, dividends and risk.
Choose
moomoo
if…
- ›You want to actually own ASX shares under your own HIN with CHESS sponsorship
- ›You trade ASX stocks regularly and want brokerage from $3 (0.03% above $10k)
- ›You need a CGT report, tax statement and Sharesight integration at EOFY
- ›You want US fractional shares, dividend reinvestment and auto-invest/DCA features
- ›You're investing for the long term and want real dividends with franking credits
Choose
Pepperstone
if…
- ›You want to trade CFDs on global markets (US, UK, Europe, Hong Kong, Australia) from a single account
- ›You prefer leveraged trading and are comfortable with the risks of derivatives
- ›You want zero minimum deposit and a huge range of deposit methods including credit card, PayPal and Apple Pay
- ›You need a joint account — Moomoo doesn't offer them
- ›You're a short-term trader focused on price action rather than building a long-term portfolio of real shares
Where they differ
| Fact | moomoo | Pepperstone |
|---|---|---|
| What you actually buy | Real shares — CHESS-sponsored, individual HIN | Share CFDs only — you never own the underlying asset |
| ASX brokerage | $3 minimum (0.03% above $10k) | Not applicable — Pepperstone doesn't offer real ASX shares |
| FX spread (AUD/USD) | 0.003% | 0.5% |
| Dividends & tax | Real dividends with franking credits, DRP available, CGT report provided | Dividend adjustments passed as cash entries on CFDs, no franking credits, no tax statement |
| Minimum deposit | $500 | $0 |
Verdict
Pick Moomoo if you want to own real shares and invest long-term; pick Pepperstone only if you specifically want CFDs and leverage.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | moomoo | Pepperstone |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | chess | — |
| Individual HIN | Yes | — |
| Individual account | Yes | Yes |
| Joint account | No | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | No |
| Kids / minor account | — | No |
| asset coverage | ||
| ASX shares supported | Yes | No |
| ASX ETFs supported | Yes | No |
| US shares supported | Yes | No |
| US ETFs supported | Yes | No |
| Other markets supported | Hong Kong | US, UK, DE, FR, HK, BE, CH, DK, NO, SE, FI, IE, PT, ES, AT, AU |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | Yes | No |
| Options trading | Yes | No |
| CFDs supported | No | Yes |
| Managed funds | No | No |
| Bonds supported | No | No |
| IPO access | No | No |
| costs hidden | ||
| FX spread (AUD/USD) | 0.3% | 50% |
| FX spread (other currencies) | 0.3% | 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). |
| costs visible | ||
| ASX brokerage minimum | $3 | — |
| ASX brokerage percentage | 0.03% | — |
| ASX brokerage threshold | $10,000 | — |
| ASX free trade conditions | No standard free trade conditions on ASX. Promotional sign-up rewards have offered free brokerage for limited periods to new clients. | — |
| US brokerage minimum | US$0.99 | — |
| 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 | $0 |
| Off-market transfer fee | $55 | — |
| identity and trust | ||
| Legal entity name | Futu Securities (Australia) Ltd | Pepperstone Group Limited |
| AFSL number | 224,663 | 414,530 |
| Year founded | 2,022 | 2,010 |
| Parent / ownership | Futu Holdings Ltd (NASDAQ: FUTU) | 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%. |
| Country of incorporation | AU | AU |
| Public company status | public | private |
| money movement | ||
| Minimum initial deposit | $500 | $0 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | PayID, Bank transfer (OSKO/NPP) | PayID, BPAY, bank transfer, debit card, credit card, PayPal, Apple Pay, Google Pay, Neteller, Skrill |
| Settlement period | T+2 ASX; T+1 US | N/A (CFDs are not settled — positions are open derivative contracts marked-to-market continuously, with overnight swap charges in lieu of settlement) |
| Withdrawal time | 1-3 business days | Up to 2 business days for cards, PayID, BPAY and domestic bank transfer; up to 1 business day for PayPal/Neteller/Skrill. |
| 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 | Yes |
| 2FA support | sms | authenticator |
| Customer support channels | Phone, Live chat, Email, In-app | phone, email, live chat |
| Support hours (AU time) | 24/5 during US trading days; 9:30am-9:30pm AET weekends and holidays | 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. |
| Education content | video + courses | video + courses |
| tax and reporting | ||
| Australian tax statement | Yes | No |
| Distribution component breakdown | — | No |
| CGT calculator / report | Yes | No |
| Sharesight / Navexa integration | Yes | No |
| trading mechanics | ||
| Market orders | Yes | Yes |
| Limit orders | Yes | Yes |
| Stop loss orders | Yes | Yes |
| Conditional orders | Yes | Yes |
| Auto-invest / DCA | Yes | No |
| Auto-invest sophistication | multiple | none |
| DRP (dividend reinvestment) | Yes | No |
| After-hours / overnight trading | Yes | Yes |