FXTM vs. Pepperstone Broker Comparison

FXTM vs. Pepperstone Broker Comparison

FXTM and Pepperstone Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$5MT4, MT5250+FCA, CySEC, FSCA, FSC
$200MT4, MT5, cTrader230+FCA, ASIC

FXTM and Pepperstone Comparison

Pepperstone is an ECN broker. FXTM offers both ECN accounts and Standard accounts (Standard have instant execution). Excluding Shares CFDs, both have a similar number of markets, however as FXTM also provides a Shares account, it can offer more overall.

While FXTM provides a range of account types, Pepperstone has a focus on the provision of ECN trading, with fast order execution and no restrictions on trading styles. Both brokers are regulated by the FCA in the United Kingdom. FXTM is additionally regulated by the CySEC in Cyprus and the FSC in Mauritius and is licensed by the FSCA in South Africa. Pepperstone is additionally regulated by the ASIC in Australia.

Quick comparison

Pepperstone is an ECN broker. FXTM has a range of accounts, including STP/ECN. Both offer MT4 and MT5. Pepperstone also offers cTrader.

Minimum deposit and account types

The minimum deposit for FXTM is $5 and for its ECN account is $200. The minimum deposit for Pepperstone is $200 or AU$200 or £100.

  • FXTM provides three Standard accounts. These are the Standard, Cent and Shares accounts. The minimum deposit for the Cent account is $/€/£5 or ₦1,000 and the minimum deposit for the Standard and Shares account is $/€/£100 or ₦20,000. These are instant execution accounts (they are not no dealing desk). Micro lot trading is available for all account types. Scalping is allowed only on the ECN accounts. FXTM provides a range of tools, including signals, daily market analysis, news and an economic calendar.
  • FXTM offers a number of ECN accounts. There include the FXTM ECN Account, the ECN Zero, the FXTM ECN MT5, the Strategy Account, FXTM Pro and FXTM Pro MT5. The ECN and MT5 accounts charge commissions, the others do not. The minimum deposit for the ECN Zero account is $/€/£200 or ₦20 000, the minimum deposit for the FXTM ECN MT5 account is $/€/£500 or ₦20,000, the minimum deposit for the Strategy Account is $/€/£100 and the minimum deposit for the FXTM Pro accounts is $/€/£25,000 or ₦5,000,000.
  • The FXTM Pro accounts offer faster execution, lower spreads and higher liquidity and charge no commissions.
  • Pepperstone offers four account types. These are Standard, Razor, Islamic (Swap Free) and Active Traders. Pepperstone offers a Weekly Market Review.
  • Pepperstone's Standard and Islamic accounts do not charge commissions and hence offer higher spreads as they include a mark up. The Razor account charges commissions and allows scalping.
  • Pepperstone's Active Traders account is for active traders and institutions depositing at least $25,000 and trading at least 250 lots a month. It offers EDGE ECN Execution, a dedicated relationship manager, a segregated customer account, advanced reporting, VPS hosting services and custom solutions.

Both brokers allow scalping.

Markets

  • FXTM can offer slightly different numbers of markets for each ECN account types, which can be between 35+ and 60+. The FXTM ECN account offers 60+. All the accounts provide Forex and Precious Metals, the FXTM ECN account can offer Forex, Energy, Indices and Precious Metals.
  • For the non-ECN accounts, FXTM can offer more markets on the Standard account, with 75+ covering Forex, Energy, Indices and Precious Metals. The Cent account offers less, at 25+, covering Forex and Precious Metals. FXTM also has a non-ECN account which provides 180+ Shares CFDs. The total is 250+ across all accounts.
  • Pepperstone offers 95+ covering Forex, Energy, Indices, Metals, Soft Commodities and Cryptocurrencies.

Spreads and leverage

  • Spreads at FXTM are variable, and for EUR/USD are from 1.3 on the Standard account, 1.5 on the Cent account, 0.1 on the ECN account, 0.5 on the ECN Zero account, 0.2 on the FXTM ECN MT5 account, 0.3 on the Strategy account and 0 on the FXTM Pro accounts.
  • FXTM offers a typical spread of 5.0 (Standard) and 1.5 (ECN) for UK100, a minimum spread from .107 (Standard) and .05 (ECN) for Gold and a typical spread of 0.09 (Standard) and 0.04 (ECN) For US Oil. The Shares Account has spreads on Share CFDs from 0.1.
  • Spreads at Pepperstone are variable and are from 0.0 for EUR/USD, 1 for UK100, 0.6 for Gold and 0.05 for US Crude Oil. For the Standard account EUR/USD spreads are from 1.

Maximum leverage for FXTM (FCA or CySEC regulated) is . Maximum leverage for Pepperstone (FCA regulated) is .

Commissions

  • FXTM charges a commission starting at $2 per lot per side, depending on the equity in the account and the volume traded. There is no commission charged for the ECN Zero, Strategy or Pro accounts or the non-ECN accounts.
  • Pepperstone charges a commission of $3.76 or AU$3.5 or €2.61 per lot per side on the Razor account, depending on the account currency. cTrader commissions are 7 units per lot round trip of the first quoted currency in the traded currency.

Platforms

The FXTM ECN accounts provides MT4 for desktop and mobile and a webtrader which is based on MT4. The FXTM ECN MT5 account provides MT5, which provides Level II pricing

Pepperstone provides MT4 and MT5. MT4 and MT5 are available for desktop, mobile and tablets. Pepperstone also offers cTrader, which provides ECN connections, with Level II pricing. cTrader is available as a web trader, on mobile and with cAlgo (for trading automation).

FXTM and Pepperstone offer micro lot trading.

Why FXTM or Pepperstone ?

FXTM has a range of account types, including STP/ECN. Pepperstone is an ECN broker. Each has MT4 and MT5, Pepperstone additionally offers cTrader. For ECN accounts types they have the same minimum deposit, but FXTM has a lower minimum deposit for its Cent instant execution account (however Pepperstone is an ECN broker and does not offer this kind of account).

Comparison summary

  • Both brokers offer no dealing desk order processing and a range of markets
  • Both brokers provide ECN trading with a commission charge
  • Both brokers also provide accounts which can have higher spreads and no commission charge
  • FXTM and Pepperstone also offer accounts requiring higher deposits
  • For this account type, FXTM provides improved ECN trading conditions, while Pepperstone provides extra account services
  • FXTM provides MT4 and MT5
  • Pepperstone provides MT4, MT5 and cTrader

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