Pepperstone vs. ThinkMarkets Broker Comparison

Pepperstone vs. ThinkMarkets Broker Comparison

Pepperstone versus ThinkMarkets Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$200MT4, MT5, cTrader95+FCA, ASIC
NoneMT4, Trade Interceptor200+FCA, ASIC

Pepperstone and ThinkMarkets Comparison

These brokers each have no dealing desk conditions and support both automated and discretionary trading. A difference is perhaps in the relative weight each brokers give these trading styles. Pepperstone is an ECN broker which also offers an STP account. It provides MT4, MT5 and cTrader. ThinkMarkets offers an ECN account (for a higher minimum deposit) on MT4. However for discretionary traders, it has the user friendly platform Trade Interceptor.

While both offer CFD trading, a difference is that in the UK, ThinkMarkets has spread betting on MT4 (with different markets from its CFD accounts). These brokers each allow scalping, hedging and EAs and use Equinix infrastructure. Pepperstone and ThinkMarkets are both regulated by the FCA in the United Kingdom and by the ASIC in Australia.

Quick comparison

Both offer ECN trading on MT4. ThinkMarkets has a higher minimum deposit for this kind of trading. ThinkMarkets has a lower minimum deposit (i.e. none) for its Standard account which is offered on MT4 and Trade Interceptor. Pepperstone additionally provides the ECN platform, cTrader.

Minimum deposit and account types

The minimum deposit for Pepperstone is $200 or AU$200 or £100. There is no minimum deposit for ThinkMarkets's Standard account and a minimum deposit of $500 for ThinkMarkets's ThinkZero account.

  • 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. Pepperstone uses Equinix NY4 and LD4 Data Centres.
  • 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.
  • ThinkMarkets offers both CFD trading and spread betting. It provides the Standard account and the ThinkZero account. An Islamic account is available. There is no minimum deposit for the Standard account. The minimum deposit for the ThinkZero account is $/£500. The Standard account does not charge commissions, ThinkZero account does charge a commission.
  • ThinkMarkets account types provide 24/6 Live Support and a Free VPS Service. The ThinkZero account also provides Autochartist and an account manager.

Markets

  • Pepperstone offers Forex, Indices, Energy, Metals, Cryptocurrencies and Soft Commodities, with 95+ available.
  • ThinkMarkets offers Forex, Indices, Energy, Metals, Cryptocurrencies and Shares, with 200+ available.

Cryptocurrency CFDs

  • Pepperstone provides Bitcoin, Ethereum, Litecoin, Dash, Bitcoin Cash and Ripple.
  • ThinkMarkets provides Bitcoin, Ethereum, Litecoin, Dash, Bitcoin Cash, Ripple, Bitcoin Gold, Monero, ETP, Iota, NEO, OmiseGO, and Zcash.

Spreads and leverage

  • Spreads at Pepperstone are variable and are from 0.0 for EUR/USD, 1 for UK100, 0.2 for Gold and 0.05 for US Crude Oil. For the Standard account EUR/USD spreads are from 1.
  • Spreads on ThinkMarkets can vary with account type and types of trading. Spread betting Standard spreads are variable and are from 0.8 for EUR/USD, with a target spread from 1 for UK100 and with an average spread of 0.20 for Gold and 0.04 for US Crude Oil.
  • ThinkMarkets CFD Standard spreads are variable and are from 0.4 for EUR/USD, with a target spread from 1 for UK100 and from 0.25 for Gold and 0.03 for US Crude Oil. On the ThinkZero account, Forex spreads can be as low as 0 with commissions of $3.5 per lot per side.

Maximum leverage at Pepperstone (FCA regulated) is . Maximum leverage at ThinkMarkets (FCA regulated) is .

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.
  • ThinkMarkets does not charge a commission on the Standard account and charges a commission of $3.5 per lot per side for the ThinkZero account.

Platforms

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 webtrader, on mobile and with cAlgo (for trading automation).

ThinkMarkets offers both MT4 and Trade Interceptor, which are available for desktop, tablet and mobile. Trade Interceptor is available for the Standard account and MT4 is available for all account types (including spread betting).

Both of these brokers offer micro lot trading. Pepperstone offers micro lot trading for all its account types, ThinkMarkets also offers it for all account types.

Why Pepperstone or ThinkMarkets ?

Pepperstone is an ECN broker. ThinkMarkets offers different account types, including ECN. Each has MT4, while Pepperstone also offers MT5 and cTrader. On its Standard accounts, ThinkMarkets has MT4 and Trade Interceptor. While each offers CFD trading, in the UK, ThinkMarkets can also provide spread betting on MT4.

Comparison summary

  • These brokers both support no dealing desk intervention trading
  • ThinkMarkets provides ECN conditions for its ThinkZero accounts along with MT4
  • ThinkMarkets offers Trade Interceptor and MT4 for its Standard account, which does not charge commissions
  • Pepperstone provides ECN conditions with a commission charge for its Razor account, and trading without a commission charge for its Standard account
  • Both brokers can offer Forex ECN spreads with a competitive commission charge
  • Each broker provides MT4
  • ThinkMarkets offers an MT4 spread betting account in the UK, in addition to its CFD account
  • Pepperstone additionally provides MT5 and cTrader

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