Pepperstone vs Tiger Brokers
Pepperstone and Tiger Brokers look like trading platforms on the surface, but they operate in completely different worlds. Pepperstone is a CFD broker — you never actually own the underlying shares, and there's no CHESS sponsorship or HIN. Tiger Brokers is a genuine broker that lets you buy real ASX and US shares under your own HIN, with CHESS sponsorship for Australian stocks. That single difference dictates everything else.
- ›You want to trade CFDs on forex, indices, commodities and international equities rather than own physical shares
- ›You need zero minimum deposit and want to fund your account via PayPal, credit card, Apple Pay or Google Pay
- ›You trade large volumes and want US brokerage from just $0.02 per trade
- ›You want 24/5 customer support with a Melbourne-based team and extensive education videos
- ›You need a demo account to test strategies before committing real money
- ›You want to own real ASX and US shares under your own HIN with CHESS sponsorship
- ›You want zero-brokerage on up to 4 ASX or US trades per month as a new client
- ›You need fractional US shares, options trading, IPO access and dividend reinvestment
- ›You want auto-invest / DCA into single stocks and ETFs, plus CGT reports and Sharesight integration
- ›You're an SMSF looking for a broker that supports self-managed super fund accounts
Where they differ
| Fact | Pepperstone | Tiger Brokers |
|---|---|---|
| What you actually buy | CFDs only — no real share ownership | Real ASX and US shares under your HIN |
| CHESS sponsorship | No — custodian model, no HIN | Yes — CHESS-sponsored, individual HIN provided |
| ASX brokerage minimum | $5 | $3 (or $0 for new clients on up to 4 trades/month) |
| US brokerage minimum | $0.02 | $2 |
| FX spread (AUD/USD) | 0.5% | 0.0055% |
If you want to own real shares under your HIN, choose Tiger Brokers. If you want CFD trading, choose Pepperstone.
Common questions
How do Pepperstone and Tiger Brokers compare on what you actually buy?
Pepperstone: CFDs only — no real share ownership. Tiger Brokers: Real ASX and US shares under your HIN. Pepperstone clients never own the underlying asset; Tiger clients do.
How do Pepperstone and Tiger Brokers compare on chess sponsorship?
Pepperstone: No — custodian model, no HIN. Tiger Brokers: Yes — CHESS-sponsored, individual HIN provided. Your ASX holdings are only truly yours under CHESS.
How do Pepperstone and Tiger Brokers compare on asx brokerage minimum?
Pepperstone: $5. Tiger Brokers: $3 (or $0 for new clients on up to 4 trades/month). Tiger is cheaper on ASX trades, especially for new users.
When is Pepperstone the better choice over Tiger Brokers?
Pick Pepperstone if you want to trade CFDs on forex, indices, commodities and international equities rather than own physical shares; you need zero minimum deposit and want to fund your account via PayPal, credit card, Apple Pay or Google Pay; you trade large volumes and want US brokerage from just $0.02 per trade; or you want 24/5 customer support with a Melbourne-based team and extensive education videos.
When is Tiger Brokers the better choice over Pepperstone?
Pick Tiger Brokers if you want to own real ASX and US shares under your own HIN with CHESS sponsorship; you want zero-brokerage on up to 4 ASX or US trades per month as a new client; you need fractional US shares, options trading, IPO access and dividend reinvestment; or you want auto-invest / DCA into single stocks and ETFs, plus CGT reports and Sharesight integration.
Pepperstone or Tiger Brokers — what's the verdict?
If you want to own real shares under your HIN, choose Tiger Brokers. If you want CFD trading, choose Pepperstone.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Pepperstone | Tiger Brokers |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | — | chess |
| Individual HIN | — | Yes |
| Individual account | Yes | Yes |
| Joint account | Yes | Yes |
| 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 | Hong Kong, China A-shares |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | Yes |
| Options trading | No | Yes |
| CFDs supported | Yes | No |
| Managed funds | No | No |
| Bonds supported | No | No |
| IPO access | No | Yes |
| costs hidden | ||
| FX spread (AUD/USD) | 50% | 0.55% |
| 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). | — |
| costs visible | ||
| ASX brokerage minimum | — | $3 |
| ASX brokerage percentage | — | 0.03% |
| ASX brokerage threshold | — | $10,000 |
| ASX free trade conditions | — | New clients receive zero-brokerage on up to 4 trades per month on ASX/US stocks, ETFs or options (minimum brokerage waived; third-party fees still apply). |
| US brokerage minimum | — | US$2 |
| 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 | — | $50 |
| identity and trust | ||
| Legal entity name | Pepperstone Group Limited | Tiger Brokers (AU) Pty Limited |
| AFSL number | 414,530 | 300,767 |
| Year founded | 2,010 | 2,020 |
| 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%. | UP Fintech Holding Limited (NASDAQ: TIGR) |
| Country of incorporation | AU | AU |
| Public company status | private | public |
| money movement | ||
| Minimum initial deposit | $0 | $500 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | PayID, BPAY, bank transfer, debit card, credit card, PayPal, Apple Pay, Google Pay, Neteller, Skrill | PayID, PayTo, Bank transfer (direct credit) |
| 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 (ASX), T+1 (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 (Tiger review) plus bank processing; can arrive same day |
| 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 | — |
| 2FA support | authenticator | authenticator app |
| Customer support channels | phone, email, live chat | phone, email, live chat, in-app |
| 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. | Phone: 9am-5pm weekdays (AET). Live chat: 9am-8:30pm weekdays. Email: ongoing. |
| Education content | video + courses | structured courses |
| tax and reporting | ||
| Australian tax statement | No | Yes |
| Distribution component breakdown | 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 | Yes |
| Auto-invest sophistication | none | single asset |
| DRP (dividend reinvestment) | No | Yes |
| After-hours / overnight trading | Yes | Yes |