FOREX.com vs Pepperstone - Online Brokerage Comparison

FOREX.com vs Pepperstone

FOREX.com vs Pepperstone Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$50MT4, Advanced Platform, Web Trader300+FCA, ASIC, CFTC, IIROC, SFC, CIMA, FSA
$200MT4, MT5, cTrader95+FCA, ASIC

FOREX.com and Pepperstone Comparison

Both of these provide MT4 and have a similar number of markets to trade on it. However on MT4, Pepperstone has a wider range. Pepperstone is a no dealing desk ECN broker with a focus on low latency order execution. FOREX.com commits to providing low latency order execution on MT4 (it is not an ECN broker and does not charge Forex commissions). On its other platforms, FOREX.com can offer more markets.

Both have Cryptocurrency CFDs available. Given its provision of the Advantage Web platform, FOREX.com could be seen having an added focus on discretionary trading. With its ECN order execution, and provision of cTrader and MT5, Pepperstone could be seen having an extra focus on automated trading, though each supports both.

FOREX.com and Pepperstone are both regulated by the FCA in the United Kingdom and the ASIC in Australia. FOREX.com is additionally regulated by the CFTC in the United States, the IIROC in Canada, the SFC in Hong Kong, the CIMA in the Cayman Islands and the FSA in Japan.

Quick comparison

FOREX.com offer more markets, Pepperstone is an ECN broker.

Minimum deposit and account types

The minimum deposit for FOREX.com is $/€/£50. The minimum deposit for Pepperstone is $200 or AU$200 or £100.

  • FOREX.com offers Forex and CFD trading. The minimum trade size is 0.01 lots. It has an Economic Calendar, Market Research and a news feed on its platforms and a Trader Education course on its website.
  • Pepperstone offers four account types, with Forex and CFD trading. These are Standard, Razor, Islamic (Swap Free) and Active Traders. Pepperstone provides trading guides, a market review and an economic calendar its website. Pepperstone says that latency is as low as 50ms. 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'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.

Markets

  • On The Advanced Platform, FOREX.com offers Forex, Indices, Energy, Soft Commodities, Metals, Cryptocurrencies and Stocks, with 300+ available.
  • On MT4, FOREX.com offers Forex, Indices, Energy, Soft Commodities and Metals, with 110+ available.
  • Pepperstone offers Forex, Indices, Energy, Soft Commodities, Metals and Cryptocurrencies, with 95+ available.

Cryptocurrency CFDs

  • Pepperstone offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple and Dash.
  • FOREX.com offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple.

Spreads and leverage

  • Spreads at FOREX.com are variable or fixed depending on the market, with variable spreads from 1.4 for EUR/USD, a fixed spread of 1 for UK100, a typical variable spread of 0.61 for Gold and 0.04 for US Crude Oil.
  • Spreads at Pepperstone are variable and are from 0.0 for EUR/USD (with an average of 0.2) plus a commission charge, from 0.6 for Gold and 0.05 for US Crude Oil. For the Standard account EUR/USD spreads are from 1 (with an average of 1.2) without a commission charge.

The maximum leverage for FOREX.com (FCA regulated) is . The maximum leverage for Pepperstone (FCA regulated) is .

Commission charge

  • FOREX.com does not charge commissions for trading Forex (only for Shares CFDs).
  • 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

FOREX.com offers the Advanced Platform, a web trader, MT4, an MT4 web trader and apps. Pepperstone offers cTrader, MT5 and MT4, including an MT4 web trader.

Why FOREX.com or Pepperstone ?

FOREX.com offers two web traders and MT4, while Pepperstone provides MT4, MT5 and cTrader and is an ECN broker.

Comparison summary

  • Both offer trading on MT4 and have a similar number of markets
  • FOREX.com has a lower minimum deposit
  • Pepperstone is an ECN broker and also offers cTrader and MT5
  • FOREX.com has the Advanced Platform, which has more markets than MT4 (or Pepperstone)
  • FOREX.com does not charge Forex commissions, offering variable spreads
  • Pepeprstone does charge Forex commissions on its ECN account
  • Pepperstone can also offer STP trading without a Forex commission charge
  • Both have Cryptocurrency CFD trading (the trader does not own the cryptocurrency and does not need a wallet
  • Both are FCA and ASIC regulated

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