| Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
|---|---|---|---|---|
| FXTM | $10 Minimum Deposit | MT4, MT5 Trading Platforms | 1000+ Markets To Trade | FXTM provides MT4 and MT5 and offers a Micro (Cent) account with low minimum trade sizes and accounts for higher volume traders About |
| Pepperstone | $200 Minimum Deposit | MT4, MT5, cTrader, TradingView Trading Platforms | 1000+ Markets To Trade | Pepperstone offers a wide range of trading platforms (MT4, MT5, cTrader and TradingView) all of which support automated trading About |
FXTM and Pepperstone Comparison
Pepperstone offers more markets and platforms to trade on, while FXTM offers a Cent type account (called its Micro account) with low minimum trade sizes. Both support automated trading.
Each broker offers CFD trading, but in the UK Pepperstone additionally provides spread betting.
Both brokers are regulated by the FCA in the United Kingdom and the CySEC in Cyprus. FXTM is additionally regulated by the FSC in Mauritius and is licensed by the FSCA in South Africa. Pepperstone is additionally regulated by the ASIC in Australia, the CMA in Kenya, the SCB in the Bahamas and the DFSA in Dubai.
Quick comparison
Both offer MT4 and MT5. Pepperstone also offers cTrader and TradingView. FXTM has a Micro (Cent) account.
Minimum deposit and account types
The minimum deposit for FXTM is $10 ($50 in the EEA). The minimum deposit for Pepperstone is $200
- FXTM offers three account types: Micro, Advantage and Advantage Plus. The minimum deposit for the Micro account is $10 (MT4 only is offered on this account). The minimum deposit for the Advantage and Advantage Plus account is $500. The Micro account is a Cent type account with low minimum trade sizes. The Advantage account offers spreads from 0 plus a commission charge. The Micro and the Advantage Plus accounts offer spreads from 1.5 without a commission charge. FXTM provides Market Analysis Videos and Podcasts, a Forex News Timeline, Education, Market Outlook and an Economic Calendar. Copy trading is provided via FXTM Invest. The minimum trade size is 0.0001 lots.
- Pepperstone offers a Standard and a Razor account for CFD trading and in the UK additionally offers a spread betting account. Pepperstone provides trading guides, a market review and an economic calendar its website. Pepperstone says that latency is as low as 30ms. The minimum trade size is 0.01 lots.
- 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 offers social and copy trading via DupliTrade, Myfxbook and MetaTrader Signals.
Both brokers allow scalping.
Markets
- FXTM offers Forex, Metals, Energy, Indices and Stocks, with 1000+ available.
- Pepperstone Forex, Metals, Energy, Indices, Stocks, Soft Commodities and Cryptocurrencies, with 1000+ available.
| Broker | Trading Platform | Description |
|---|---|---|
| Pepperstone Broker | MT4, MT5, cTrader, TradingView Trading Platforms | Pepperstone offers no dealing desk high speed order execution supporting a wide range of trading styles from robots to news trading Description |
| FXTM Broker | MT4, MT5 Trading Platforms | FXTM provides a range of account types including Cent, supports EA robots on MetaTrader and has a lower minimum deposit of $10 Description |
Spreads and leverage
On FXTM's Advantage Plus account, Forex spreads are from 1.5 without a commission charge. On FXTM's Advantage account, Forex spreads are from 0 plus commission. On Pepperstone's Razor accounts, Forex spreads are from 0 plus commission. On Pepperstone's Standard account, Forex spreads are from 0.6 without a commission charge.
Maximum leverage for FXTM (CySEC regulated) is . Maximum leverage for Pepperstone (CySEC regulated) is .
Commissions
- FXTM charges a commission starting at $0.40-$2 per lot per side, depending on the equity in the account and the volume traded. The commission is charged for the ECN account.
- 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.
Online trading platforms
Both offer MT4 and MT5. Pepperstone additionally provides cTrader and TradingView.
FXTM and Pepperstone provide micro lot trading, however on its Micro (Cent) account, FXTM can offer smaller trade sizes (down to 0.0001 lots).
Why FXTM or Pepperstone ?
Traders who want to trade on MetaTrader 4 (MT4) or its successor MetaTrader 5 (MT5) on ECN accounts may do so at either broker. Those who want to trade with very small trade sizes (smaller than a standard lot) can do this at FXTM, on its Micro account, which also has a lower minimum deposit of $10. Those who want to trade Stocks CFDs can do this at either broker on MT5. As well as MT4 and MT5, Pepperstone offers cTrader, which is a relatively user friendly platform and TradingView. Traders who want to spread bet may do so at Pepperstone.
Comparison summary
- Both brokers provide CFD trading
- In the UK, Pepperstone additionally offers spread betting
- Both brokers provide MT4 and MT5
- Pepperstone additionally offers cTrader and TradingView
- FXTM has a Cent account and a low minimum deposit ($10)
