Which CFD trading app is best for beginners?
Verdict
- Pepperstone's app on a Standard account is our pick for beginners: every cost is in the spread, the minimum deposit is $10, and retail clients cannot lose more than their balance.
- Pepperstone does not offer guaranteed stop-losses; Capital.com does, which is why it is our second choice for cautious newcomers.
- Pepperstone states that 80% of retail CFD accounts with its international entity lose money, so trade small while you learn.
- In Hong Kong you would deal with Pepperstone Markets Limited, licensed in the Bahamas (SIA-F217); Pepperstone holds no SFC licence.
Beginners need fewer features, not more: a clear price, a small first deposit and a hard floor under their losses. Pepperstone's app on a Standard account offers all three. Below is what to understand before your first CFD trade, how the main apps compare on beginner protections, and when Capital.com is the better start.
Start on Pepperstone's app with a Standard account
The Standard account has no commission, so the price you see is the whole dealing cost: about 1.1 pips on EUR/USD and 0.5 points on US500, as published averages. That is easier to follow than Razor's spread-plus-commission. You can open with $10, fund in Hong Kong dollars, and move to MT5 or cTrader later on the same login.
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Four things to understand before your first CFD
- Leverage: Pepperstone's international entity allows up to 1:200 on FX. With $500 of margin you could control $100,000 of currency, and a 0.5% move would wipe out that $500.
- Overnight costs: positions held past the daily rollover pay or earn swap.
- Stops: a stop-loss closes your trade at the next available price, which may be worse than your level if the market gaps.
- Odds: Pepperstone says 80% of retail accounts with this entity lose money on CFDs.
Beginner protections compared
| Pepperstone | Capital.com | XS | |
|---|---|---|---|
| Negative balance protection (retail) | Yes | Yes | Not published |
| Guaranteed stop-loss | No | Yes | Not published |
| Commission-free account | Standard | Not published in our data | Not published in our data |
| Minimum deposit | $10 | $20 | $0 published ($500 for Elite) |
| SFC licence | No | Not listed | Not listed |
Learning tools on Pepperstone's international site
Pepperstone's international site lists CopyTrading by Pepperstone, cTrader Copy and MetaTrader Signals. Pepperstone also offers its traders a free Bloomberg.com Premium Digital subscription, terms applying, which is useful for following the news that moves markets. Copying another trader does not make you safer; it moves their decisions, and their losses, into your account.
When Capital.com is the better first app
If the idea of a stop slipping in a gap worries you, Capital.com's guaranteed stop-loss caps the loss at your chosen level; its help centre describes how it works. Its minimum deposit is $20, and it lists TradingView, MT4 and MT5 as well as its own app. Capital.com publishes no SFC licence either.
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Sources
Figures as published by each broker or regulator on its own site.
Can a beginner lose more than they deposit with Pepperstone?
Not as a retail client: Pepperstone's Bahamas terms say retail clients are not liable for negative equity.
What is the minimum deposit for Pepperstone's app?
$10 or the local equivalent, on either account type.
Is Pepperstone safe for beginners in Hong Kong?
It publishes clear prices and negative balance protection, but it holds no SFC licence and names no compensation scheme. Keep your first deposit small.
Trading CFDs on margin is high risk: leverage can wipe out a deposit quickly, and these products are not suitable for everyone. Nothing on this page is investment advice. Fees, spreads and leverage change, so confirm them on the broker's own site before trading.