Pepperstone versus CMC Markets

Pepperstone and CMC Markets, headquartered in Australia and the UK, are two established and well-trusted brokers. Pepperstone has one of the most competitive MT4/MT5 trading environments due to the Smart Trader Tools upgrade. It also features cTrader, while CMC Markets presents its cutting-edge proprietary web-based trading platform and the out-of-the-box MT4.

Trading costs at both brokers remain competitive, but Pepperstone takes the lead in its commission-based account, especially for active traders, due to its volume-based rebate program. CMC Markets offers a broader asset selection, but Pepperstone grants higher leverage and third-party social trading providers.

Both brokers offer beginners a high-quality educational section, but CMC Markets takes the lead in this category amid a more in-depth approach aided by superior research.

We have conducted an in-depth review of Pepperstone and CMC Markets to determine which one presents the better overall choice and which traders will benefit the most at either broker.

• Features and Platforms
• Available Markets
• Typical Spreads and Fees
• Security and Trust
• Pepperstone versus CMC Markets - Verdict

Headquarters	Australia	United Kingdom
Regulators	ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB	FCA
Tier 1 Regulator(s)?
Owned by Public Company?
Year Established	2010	1989
Execution Type(s)	No Dealing Desk, NDD	Market Maker
Minimum Deposit	$0	N/A
Trading Platform(s)	Other, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+	MetaTrader 4, Proprietary platform, Web-based
Average Trading Cost EUR/USD	1.1 pips	0.6 pips ($6.00)
Average Trading Cost GBP/USD	1.4 pips	0.9 pips ($9.00)
Average Trading Cost WTI Crude Oil	$2.50	$0.03
Average Trading Cost Gold	$0.15	$0.34
Retail Loss Rate	74-89%	N/A
Minimum Raw Spreads	0.0 pips	N/A
Minimum Standard Spreads	1.0 pips	N/A
Minimum Commission for Forex	6.00 per round lot (cTrader) / $7.00 per round lot (MT4/MT5)	N/A
Islamic Account
Signals
US Persons Accepted?
Managed Accounts
	Visit Website 75-95% of traders on margin lose	Visit Website

Features and Platforms

MT4
MT5
cTrader
Proprietary Platform
Automated Trading
DOM?
Guaranteed Stop Loss
Scalping
Hedging
One-Click Trading
OCO Orders
Interest on Margin
	Visit Website 75-95% of traders on margin lose	Visit Website

Noteworthy:

Pepperstone offers algorithmic traders, scalpers, and high-frequency traders better conditions through higher leverage and lower costs, while CMC Markets shines with its wide asset selection.

Available Markets

Currency Pairs
Cryptocurrencies	N/A
Commodities
Crude Oil
Gold
Metals
Equity Indices
Stocks (non-CFDs)	N/A
Bonds	N/A
ETFs
Futures
Synthetics
	Visit Website 75-95% of traders on margin lose	Visit Website

Pepperstone maintains a well-balanced asset selection suitable for all traders and small asset managers, but CMC Markets offers a notably broader choice of trading instruments. With 330+ currency pairs, CMC Markets is one of the widest Forex brokers industry wide. Neither broker presents a deep cryptocurrency selection but both offer traders quality cross-asset diversification.

Typical Spreads and Fees

Average Trading Cost EUR/USD	1.1 pips	0.6 pips ($6.00)
Average Trading Cost GBP/USD	1.4 pips	0.9 pips ($9.00)
Average Trading Cost WTI Crude Oil	$2.50	$0.03
Average Trading Cost Gold	$0.15	$0.34
Average Trading Cost Bitcoin	25	$75.00
Minimum Raw Spreads	0.0 pips	N/A
Minimum Standard Spreads	1.0 pips	N/A
Minimum Commission for Forex	6.00 per round lot (cTrader) / $7.00 per round lot (MT4/MT5)	N/A
Deposit Fee		N/A
Withdrawal Fee		N/A
Inactivity Fee	$0	N/A
	Visit Website 75-95% of traders on margin lose	Visit Website

Trading costs at Pepperstone and CMC Markets remain competitive, but Pepperstone presents an overall lower pricing environment.

Security and Trust

Country of the Regulator	United Arab Emirates, Australia, The Bahamas, Cyprus, Germany, Kenya, United Kingdom	United Arab Emirates, Australia, Canada, Germany, New Zealand, Singapore, United Kingdom
Name of the Regulator	ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB	FCA
Regulatory License Number	414530, 91279, 128, 388/20, F004356, 684312, F217	173730, 170627,154814, 238054, 41187, 101320, F002740, Undisclosed but confirmed
Regulatory Tier	N/A	1, 1, 1, 1, 1, 2, 2
	Visit Website 75-95% of traders on margin lose	Visit Website

Pepperstone and CMC Markets segregate client deposits from corporate funds and offer negative balance protection. Select operating subsidiaries additionally offer an investor compensation fund, and both brokers maintain a clean regulatory track record. CMC Markets is a publicly listed company in the UK and a member of the FTSE 250 index.

Pepperstone vs CMC Markets – Verdict

Pepperstone

CMC Markets

Pepperstone provides traders with one of the most competitive MT4/MT5 trading environments, while CMC Markets has one of the broadest asset selection available to Forex traders. The lower trading costs, higher leverage, and value-added services make Pepperstone a superior choice for most Forex traders. CMC Markets maintains an edge in overall asset selection.

You might also be interested in reviewing the below broker comparisons:

• CMC vs FP Markets
• CMC vs IG Markets
• CMC vs Plus500
• Pepperstone vs FXTM
• Pepperstone vs Eightcap
• Pepperstone vs BlackBull

FAQs

Are CMC Markets Good?

CMC Markets is an overall good broker, especially for manual equity and Forex traders from its cutting-edge proprietary trading platform.

Is Pepperstone a good broker?

Pepperstone presents excellent conditions for high-frequency, high-volume traders, and scalpers. It maintains one of the most competitive MT4/MT5 environments, low costs, high leverage, and fast order execution.

Is CMC good for beginners?

CMC Markets offers beginner traders a high-quality educational platform, ideal for beginner traders.