Exness ranks among the leading Forex brokers with monthly trading volumes exceeding $3.5 trillion and an excellent Forex selection featuring 100+ currency pairs. It also ranks highly in the client withdrawal category, with $1.3+ billion in quarterly withdrawals. Traders get the MT4/MT5 trading platform, plus the proprietary Exness Terminal and mobile app Exness Trade. Exness also shines with its ultra-low trading fees and flexible leverage.
Pepperstone presents the most competitive MT4/MT5 trading environment due to its 28-plugin upgrade plus Autochartist. Traders may also opt for cTrader. Pepperstone connects to the TradingView community and offers Capitalise AI, which supports algorithmic trading in a code-free environment. VPS hosting and API trading are equally available. Traders also benefit from competitive trading fees and a volume-based rebate program.
We have conducted an in-depth review of Exness and Pepperstone to determine which presents the better overall choice and which traders will benefit the most at either broker.
 |  | |
Headquarters | Cyprus | Australia |
Regulators | CMA, CySEC, FCA, FSA, FSC Belize, FSC Mauritius, FSCA | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2008 | 2010 |
Execution Type(s) | Market Maker | No Dealing Desk, NDD |
Minimum Deposit | $10 (based on the account type) | $0 |
Negative Balance Protection | N/A | |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Proprietary platform | Other, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+ |
Average Trading Cost EUR/USD | 0.6 pips | 1.1 pips |
Average Trading Cost GBP/USD | 0.7 pips | 1.4 pips |
Average Trading Cost WTI Crude Oil | 6.7 pips | $2.50 |
Average Trading Cost Gold | 11.3 pips | $0.15 |
Retail Loss Rate | Undisclosed | 74-89% |
Minimum Raw Spreads | 0.0 pips | 0.0 pips |
Minimum Standard Spreads | 0.3 pips | 1.0 pips |
Minimum Commission for Forex | $7.00 per 1.0 standard round lot | 6.00 per round lot (cTrader) / $7.00 per round lot (MT4/MT5) |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
| Visit Website | Visit Website 75-95% of traders on margin lose |
Features & Platforms
| | |
MT4 | ||
MT5 | ||
MT4/MT5 Add-Ons | N/A | |
cTrader | ||
Proprietary Platform | ||
Automated Trading | ||
Social/Copy Trading | N/A | |
DOM? | ||
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | ||
OCO Orders | ||
Interest on Margin | ||
| Visit Website | Visit Website 75-95% of traders on margin lose |
Noteworthy:
Exness offers a proprietary copy trading platform and mobile app, while Pepperstone has numerous third-party providers supporting excellent diversification.
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 | Visit Website 75-95% of traders on margin lose |
Exness has a better Forex selection with 100+ currency pairs, ensuring Forex traders have broad sector exposure with a balanced overall asset selection. Pepperstone has notably more equity CFDs and offers ETF trading, making it a better choice in this category. At the same time, Exness remains a more competitive option for Forex and cryptocurrency traders.
Typical Spreads & Fees
| | |
Average Trading Cost EUR/USD | 0.6 pips | 1.1 pips |
Average Trading Cost GBP/USD | 0.7 pips | 1.4 pips |
Average Trading Cost WTI Crude Oil | 6.7 pips | $2.50 |
Average Trading Cost Gold | 11.3 pips | $0.15 |
Average Trading Cost Bitcoin | 161.1 pips | 25 |
Minimum Raw Spreads | 0.0 pips | 0.0 pips |
Minimum Standard Spreads | 0.3 pips | 1.0 pips |
Minimum Commission for Forex | $7.00 per 1.0 standard round lot | 6.00 per round lot (cTrader) / $7.00 per round lot (MT4/MT5) |
Deposit Fee | ||
Withdrawal Fee | ||
Inactivity Fee | No | $0 |
| Visit Website | Visit Website 75-95% of traders on margin lose |
Both brokers offer a competitive commission-based cost structure with spreads from 0.6 pips or $6.00 per 1.0 round lot. The commission-based alternatives at Exness and Pepperstone feature raw spreads from 0.0 pips for a commission of $0.40 and $6.00, respectively.
Account Types
Account Types | Exness | Pepperstone |
Commission-free Accounts | Yes | Yes |
Commission-based Accounts | Yes | Yes |
Demo Accounts | Yes | Yes |
Islamic Accounts | Yes | Yes |
Social / Copy Trading | Yes | Yes |
Managed Accounts | No | Yes |
The Exness Standard MT5 account has no minimum deposit requirement, while the Raw Spread, ECN, and Pro options require a $200 commitment. The Zero account features 0.0 pips for a commission of $0.40 per round lot, making it ideal for scalpers. Pepperstone has no minimum deposit, but its Premium account, which includes a volume-based cashback rebate program, requires Forex traders to exceed $15M in notional monthly trading volume.
Minimum Deposit
Deposit Snapshot | Exness | Pepperstone |
Minimum Deposit | $0 (payment processor dependent) | $0 |
Deposit Fees | Third-party | Third-party |
e-wallets | Yes | Yes |
Cryptocurrencies | Yes | No |
Localized Methods | Yes | Yes |
Total Deposit Methods | 7+ | 9 |
Supported Deposit Currencies | 75+ | 10 |
The Exness minimum deposit depends on the payment processors, but most account types require an initial deposit of $200. Exness supports 75+ deposit currencies, ranking as the best Forex broker for localized deposits. Pepperstone supports ten deposit currencies, covering most of its core markets. Exness also allows cryptocurrency deposits. Neither Forex broker charges internal deposit fees, but traders should consider third-party processing costs.
Minimum Withdrawal
Withdrawal Snapshot | Exness | Pepperstone |
Minimum Withdrawal | $0 (payment processor dependent) | $0 (payment processor dependent) |
Internal Withdrawal Fees | $0 (third-party processing fees may apply) | $0 (third-party processing fees may apply) |
Internal Processing Times | Instant to 24 hours (without manual approval) | Same day to 24 hours |
Neither Exness nor Pepperstone imposes a minimum withdrawal, but payment processors could have minimum and maximum limits. The same applies to withdrawal fees, but Pepperstone levies bank wire charges. Both Forex brokers have fast internal processing times, with Exness delivering an edge. Traders must withdraw funds via the deposit method and should consider follow-on costs.
Security & Trust
| | |
Country of the Regulator | Cyprus, Kenya, Mauritius, Seychelles, United Kingdom, British Virgin Islands, South Africa, Curaçao | United Arab Emirates, Australia, The Bahamas, Cyprus, Germany, Kenya, United Kingdom |
Name of the Regulator | CMA, CySEC, FCA, FSA, FSC Belize, FSC Mauritius, FSCA | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB |
Regulatory License Number | SD025, 0003LSI, SIBA/L/20/1133, 51024, GB20025294, 178/12, 730729, 162 | 414530, 91279, 128, 388/20, F004356, 684312, F217 |
| Visit Website | Visit Website 75-95% of traders on margin lose |
Exness and Pepperstone established themselves as trustworthy Forex brokers and have stood the test of time. Both segregate client deposits from corporate funds and offer negative balance protection for retail traders. The availability of an investor compensation fund at Pepperstone depends on the operating subsidiary. At the same time, Exness provides it to every trader.
Exness versus Pepperstone Verdict
Exness
Pros | Cons |
Instant withdrawals from a trusted broker with numerous payment processors | No education for beginners |
High level of transparency and financial audits by Big Four accountancy Deloitte | |
Multi-regulated broker with excellent order and volume statistics | |
Excellent 24/7 multi-lingual customer service |
Pepperstone
Pros | Cons |
Excellent choice of trading platforms consisting of MT4/MT5 and cTrader | The competitiveness of trading conditions depends on the operating subsidiary |
Market-leading MT4/MT5 upgrade package, Autochartist, and API trading | |
Social trading support via Myfxbook, MetaTrader Signals, and DupliTrade | |
Leverage of up to 1:500 and superb trade execution |
While both Forex brokers present an ultra-competitive trading environment, Exness takes the lead among demanding Forex traders. It provides lower average trading fees and processes more trading volume. Pepperstone shines with its services geared toward beginners, particularly its upgraded trading platforms, Capitalise AI and TradingView. Exness features more deposit and withdrawal flexibility and superior protection.
You might also be interested in reviewing the below broker comparisons:
- Exness vs XM
- Exness vs Octafx
- Exnessvs FXTM
- Pepperstone vs FXCM
- Pepperstone vs Activtrades
- Pepperstone vs Axitrader
FAQs
Who runs Exness?
Igor Lychagov founded Exness and continues to run the brokerage with a well-rounded and experienced management team.
Is Exness an Islamic broker?
Exness is not an Islamic broker, but it offers swap-free Islamic accounts. It extends swap-free trading to non-Islamic countries.
Which country is Exness broker from?
The Exness Group has its headquarters in Cyprus but does not serve retail clients from Cyprus. It has six regulated operating subsidiaries with client protection that accept account applications.
Can I trust Pepperstone?
Pepperstone established itself as a trustworthy broker with a clean operational track record spanning 10+ years.