What features should I look for in a CFD trading app?
Verdict
- Look first at the company behind the app, then costs, order types, funding and range; Pepperstone's app is our pick because it sits on an ASIC-licensed account (AFSL 414530) with published average spreads and free PayID deposits from $10.
- An app is only as cheap as the account it trades: on Pepperstone, Razor averages 0.1 pips on EUR/USD plus USD 3.50 per side, while Standard averages 1.1 pips with no commission.
- If you need guaranteed stops, Pepperstone does not offer them; Capital.com does, on its own app.
- Check the app carries every market you want: Pepperstone lists its perpetual CFDs for its own app, MT5, cTrader and TradingView, but not MT4.
Good CFD apps differ less in design than in what sits behind the screen: who holds your money, what each trade costs and how quickly cash moves in and out. Here are the features worth checking, in order of how much they matter, with Pepperstone's published terms as the benchmark.
The feature that matters most: the licensed company behind it
An app is a window onto an account, and the account is held by a company. In Australia, Pepperstone's app logs you into Pepperstone Group Limited, licensed by ASIC under AFSL 414530 and based at 727 Collins Street, Melbourne. That gives retail clients ASIC's leverage caps (1:30 on major FX, 1:20 on gold and major indices) and negative balance protection, which Pepperstone describes as restoring a negative account to zero. Retail money is held in segregated accounts. No compensation scheme is named, so the licence and segregation are your main protection.
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A ten-point checklist
- Licence: the app's account sits with an ASIC-licensed company, named in the PDS.
- Cost display: you can see the spread and any commission before you confirm a trade.
- Stop-loss and take-profit on every order, plus price alerts.
- Guaranteed stops if you want a fixed worst-case exit (Capital.com has them; Pepperstone does not).
- Instant funding: Pepperstone lists PayID, cards, Apple Pay, Google Pay, PayPal, Neteller and Skrill as instant, from $10.
- Withdrawal speed: Pepperstone lists PayPal, Neteller and Skrill within 1 business day and cards or PayID within 2.
- Range: the markets you trade, including any newer products, are available in the app itself.
- Account currency: AUD avoids conversion; Pepperstone also offers USD, EUR, GBP, SGD and HKD.
- Support you can reach from the app; Pepperstone lists 1300 033 375 in Australia.
- A route to bigger platforms if you outgrow the app, without opening a new account.
How Pepperstone's app compares on the checklist
Capital.com is our second choice and the better fit if guaranteed stops are on your list.
| Feature | Pepperstone | Capital.com |
|---|---|---|
| ASIC licence | AFSL 414530 | AFSL 513393 |
| Minimum deposit | $10 | $20 |
| Guaranteed stop-loss | Not offered | Yes |
| Negative balance protection (retail) | Yes | Yes |
| Other platforms on the same account | MT4, MT5, cTrader, TradingView (MT4 and TradingView on Razor only) | MT4, MT5, TradingView |
| Published EUR/USD average | Razor 0.1 pips + USD 3.50/side; Standard 1.1 pips | Not published in our data |
Features that sound good but matter less
Chart cosmetics, the number of indicators and social feeds rarely change your results. Costs do. A trader who opens and closes ten lots of EUR/USD a month pays about $110 in spread on Pepperstone Standard and about $80 on Razor through the app ($1 spread plus $7 commission per lot), using published averages in a USD account. That $30 gap is worth more than any chart theme.
Sources
Terms as each broker publishes them on its own site.
Do I need a separate app for MT5 or cTrader?
Yes. MT5, cTrader and TradingView have their own apps, and at Pepperstone they are offered on the same account types as its own app (MT4 and TradingView on Razor only), so you do not need a second broker.
Is a CFD app riskier than a desktop platform?
The product carries the same risk on either. Small screens make mistakes easier, so always set a stop before you confirm.
What is the minimum to start on Pepperstone's app?
Pepperstone's Australian costs page says the minimum deposit is $10.
CFDs are complex instruments with a high risk of losing money rapidly due to leverage. Consider whether you understand them and can afford the risk, and read the PDS and TMD. Not investment advice; app features and costs change, so check the broker's site.