Pepperstone vs. XM Broker Comparison

Pepperstone vs. XM Broker Comparison

Pepperstone versus XM Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$200MT4, MT5, cTrader150+FCA, ASIC
$5MT4, MT51000+ASIC, CySEC, IFSC

Pepperstone and XM Comparison

Both brokers offer MetaTrader 4 (MT5) and its successor MetaTrader 5 (MT5). Each allows the trader to use Expert Advisors (EAs), which are online trading robots executing trades on behalf of the trader. Pepperstone additionally offers cTrader, which is a user friendly platform also allowing automated trading.

Both brokers offer Stocks CFD trading on MT5, though XM has considerably more Stocks CFDs to trade. Overall, XM has more markets (1000+), but Pepperstone offer a competitive number for an ECN broker (150+). Both brokers offer micro lot trading (0.01 lots), but XM has a Micro (cent) account which offers smaller trade sizes than this.

Pepperstone is regulated by the FCA in the United Kingdom and the ASIC in Australia. XM is regulated by the CySEC in Cyprus, the ASIC in Australia and the IFSC in Belize.

Quick comparison

Pepperstone and XM both offer MT4 and MT5. On MT5, XM provides considerably more markets to trade. Pepperstone additionally offers cTrader.

Minimum deposit and account types

The minimum deposit for Pepperstone is AU$/$200 or £200. The minimum deposit for XM is $5, but the minimum deposit for its XM Zero account is $100. Both brokers offer Islamic accounts.

  • Pepperstone offers four account types. These are Standard, Razor, Islamic (Swap Free) and Active Traders. Pepperstone provides trading guides, a market review and an economic calendar its website and allows scalping, hedging and EAs.
  • 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.
  • XM CySEC regulated offers three account types, a Micro and a Standard account, both with minimum deposits of $5 and the XM Zero account, with a minimum deposit of $100. An Islamic account is available for each of these account types. The Micro and Standard accounts do not charge commissions, the XM Zero account does charge commissions. The Micro and Standard accounts differ in terms of order sizes available.
  • XM ASIC regulated offers the XM Ultra Low account instead of the XM Zero account. XM IFSC regulated offers the Micro, Standard and Ultra Low accounts and a Shares account (with real Shares to own). The minimum deposit for the Ultra Low account is $50. The minimum deposit for the Shares account is $10,000.
  • XM also offers a personal account manager, video tutorials, daily technical analysis, Forex market research and daily Forex signals, market outlook and webinars. XM allows EAs, hedging and scalping.

Minimum trade size

Both brokers offer micro lot trading (0.01 lots) on all their account types. However on its Micro account, XM has a smaller minimum trade size (0.0001 lots).

Markets

  • On MT4 and MT5, Pepperstone offers 150+ covering Forex, Indices, Energy, Soft Commodities, Metals, Cryptocurrencies and Stocks.
  • On MT4, XM offers 100+ covering Forex, Indices, Energy, Soft Commodities and Metals and 1000+ on MT5 since it also includes Stock and Cryptocurrency CFDs. The XM Zero account offers Forex and Precious Metals (Gold and Silver), for a total of 60+ markets.

While both have a similar number on MT4, Pepperstone has a wider range of markets on this platform. On MT5, XM has considerably more markets to trade.

Cryptocurrency CFDs

  • Pepperstone provides Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple and Dash.
  • XM provides Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple.

Spreads and leverage

  • 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.
  • Spreads at XM are variable. For the Standard and Micro accounts spreads are from 1 for EUR/USD, 1.5 for UK 100, 0.4 for Gold and 0.05 for US Crude Oil. On the Ultra Low account, EUR/USD spreads are from 0.6.
  • For the XM Zero accounts, spreads have a low of 0 for EUR/USD. On the XM Zero account Gold has an average spread of 0.21.

Maximum leverage for Pepperstone (FCA regulated) is . Maximum leverage for XM (CySEC regulated) is . Maximum leverage for Pepperstone (ASIC regulated) is 500:1. Maximum leverage for XM (ASIC regulated) is 500:1. Maximum leverage for XM (IFSC regulated) is 888:1.

Commissions

  • 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.
  • XM charges a commission of $3.50 per lot per side on the XM Zero account.

Online trading platforms

Both brokers offer MT4 and MT5 for desktop download and as web traders. Pepperstone also provides cTrader, available for desktop download or as a web trader. All these platforms also have apps for mobile and tablet use.

Why Pepperstone or XM ?

Pepperstone is an ECN broker, offering MT4, MT5 and cTrader. XM has a range of account types and offers MT4 and MT5. On MT5, XM has considerably more markets to trade. A trader wanting to trade Stocks CFDs on MT5 could consider either as each offers these markets though XM has a larger number. Both brokers provide platforms and accounts suited to traders who trade with automated trading strategies (online trading robots). MT4 and MT5 allow Expert Advisors, while cTrader (available at Pepperstone) offers cBots. Pepperstone has a focus on ECN trading, using Equinix infrastructure for high speed order processing and on its XM Zero account, XM has less markets than Pepperstone. Both use algorithms for matching orders, so neither intervenes in the order process. Traders who wish to trade with trade sizes smaller than micro lots can do so on XM's Micro account. Small order sizes may let the trader trade with smaller account sizes, thus this account has a very low minimum deposit. For traders who wish to trade with larger volumes, Pepperstone offers its Active Trader Program.

Comparison summary

  • Both brokers offer MT4 and MT5
  • Pepperstone additionally provides cTrader
  • XM has a lower minimum deposit ($5 vs $200)
  • Both brokers provide CFD trading, including Stocks CFDs on MT5
  • XM offers more Stocks CFDs
  • Each allows automated trading
  • Pepperstone is an ECN broker with a focus on fast order execution

Search this site

Translate