Pepperstone vs Capital.com: which has lower fees?
Verdict
- On fees you can check before trading, Pepperstone comes out ahead: it publishes a 0.1-pip average EUR/USD spread on Razor plus $3.50 per side, or 1.1 pips with no commission on Standard, while Capital.com shows only live spreads with no fixed average in our data.
- Pepperstone's minimum deposit is $10 against $20 at Capital.com, and Pepperstone charges no inactivity or account-keeping fee.
- Capital.com offers a guaranteed stop-loss; Pepperstone does not.
- Neither shows an SFC licence, so from Hong Kong you are weighing two offshore set-ups, not two locally licensed firms.
If lower fees means the cost you can verify in advance, Pepperstone wins, because its averages are published and Capital.com's are not. That doesn't prove Capital.com is dearer on every trade; it means you have to read its live spread yourself. Here is each fee line, a one-lot example and the charges neither firm puts in its headline.
Pepperstone's charges, line by line
The Razor account's commission depends on the platform: MT4 takes $7 per lot when the position opens; MT5, TradingView and the Pepperstone app charge $3.50 per side; cTrader charges $3.00 per side on FX. With an HKD account the Razor rate is HK$28.17 per side. Standard has no commission; its cost is a mark-up of about one pip inside the spread. Index CFDs carry no commission on either account, with HK50 at a 5-point published average, and Hong Kong share CFDs cost 0.2% per side. There is no inactivity fee. Pepperstone's international withdrawal table lists every method as free, although its costs page mentions a $20 charge on international bank-wire withdrawals, so confirm before you send a wire.
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One standard lot of EUR/USD, opened and closed
A 100,000-unit EUR/USD lot moves $10 per pip, so the published averages translate into these round-trip costs:
| Account | Spread | Commission | Total |
|---|---|---|---|
| Pepperstone Razor, MT5 | $1 | $7 | $8 |
| Pepperstone Razor, cTrader | $1 | $6 | $7 |
| Pepperstone Standard | $11 | $0 | $11 |
| Capital.com | Live spread only | Not stated in our data | Check on the platform |
How Capital.com's costs differ
Capital.com asks for a minimum first deposit of 20 in EUR, USD or GBP, or 50 EUR by bank wire. It says it typically handles withdrawal requests within 24 hours, though funds can take up to 5 business days to reach a card or bank. It publishes a guaranteed stop-loss, useful if you hold through events that can gap, and supports MT4, MT5, TradingView and its own platform. Our data lists Hong Kong among the countries it accepts, but its regulator list shows no SFC company, so ask which entity would open your account. If guaranteed stops matter more to you than published averages, it is the stronger second choice.
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Costs that sit outside the headline numbers
- Overnight financing on positions held past the daily cut-off. Both firms charge it; check the rate per instrument in the platform before holding for days.
- Currency conversion when your account currency differs from the market you trade. Pepperstone offers HKD as a base currency; an HKD option at Capital.com is not in our data.
- Your own bank's charges and any intermediary fees on wires.
- Spread widening at market opens and around data releases, which an average does not show.
Sources
Fee pages and help articles from each broker.
Which Pepperstone account has the lower fees?
For forex, Razor: about $7 to $8 per lot round trip at published EUR/USD averages, against $11 on Standard. For index CFDs the two cost the same.
Which has the lower minimum deposit?
Pepperstone, at $10. Capital.com's minimum is 20 EUR, USD or GBP, or 50 EUR by wire.
Does either charge an inactivity fee?
Pepperstone does not. Capital.com's inactivity terms are not in our data, so check its fee page.
Does Capital.com offer guaranteed stops?
Yes, its help centre describes a guaranteed stop-loss. Pepperstone does not publish one.
Trading CFDs on margin can lose you money fast; most retail accounts do. Make sure you understand leverage and can afford the loss before you open a position. Fees change, so confirm them on each broker's site. Not investment advice.