FOREX.com vs. Pepperstone – Which Broker is the Best for Your Trading Needs?
FOREX.com and Pepperstone are leading global Forex brokers, but which one should you trust your Forex portfolios with?
I have conducted an in-depth review of FOREX.com vs. Pepperstone to determine which broker is the better overall choice and which traders will benefit most from either.
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Headquarters | United States | Australia |
Regulators | ASIC, CFTC, CIMA, CySEC, FCA, FSA, IIROC, NFA | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2001 | 2010 |
Execution Type(s) | Market Maker | No Dealing Desk, NDD |
Minimum Deposit | $100 | $0 |
Negative Balance Protection | N/A | |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Proprietary platform, Trading View | Other, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+ |
Average Trading Cost EUR/USD | 1.1 pips | 1.1 pips |
Average Trading Cost GBP/USD | 1.3 pips | 1.4 pips |
Average Trading Cost WTI Crude Oil | $0.035 | $2.50 |
Average Trading Cost Gold | $0.63 | $0.15 |
Retail Loss Rate | 73.00% | 74-89% |
Minimum Raw Spreads | 0.0 pips | 0.0 pips |
Minimum Standard Spreads | 0.8 pips | 1.0 pips |
Minimum Commission for Forex | $5 per $100K | 6.00 per round lot (cTrader) / $7.00 per round lot (MT4/MT5) |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
| Get Started | Get Started |
Here is a snapshot of the most notable advantages of Forex.com:
- Ultra-low trading fees in the Raw Spread account.
- Six-tier volume-based rebate program with up to $50 per $1M traded.
- Capitalise AI for code-free algorithmic trading.
- 99.69% of trade execution in less than one second.
- Average execution speed of 0.03 seconds.
- 58.24% of limit orders with price improvement.
- Average Forex price improvement of 0.73 pips or $7.30 per 1.0 standard lot.
Here is a snapshot of the most notable advantages of Pepperstone:
- 28-plugin Smart Trader Tools upgrade for MT4/MT5 plus Autochartist.
- Average daily trading processing of $9.2+ billion.
- Three-tier volume-based rebate program.
- API trading for advanced algorithmic trading solutions.
- VPS hosting for 24/7 low-latency Forex trading.
- 99.90% order fill rate.
Features & Platforms
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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 | ||
| Get Started | Get Started |
Available Markets
| | |
Currency Pairs | ||
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks (non-CFDs) | N/A | |
ETFs | ||
Futures | ||
Synthetics | ||
| Get Started | Get Started |
Pepperstone features 1,200+ CFDs, including 96 currency pairs and three currency indices, but the 80+ currency pairs and 5,500+ equity-focused trading instruments I found during my FOREX.com review provide better diversification opportunities.
Here is why Forex.com is a better choice for most traders:
- Superior price improvement technology
- Lower trading fees
- Higher volume-based rebate program
Typical Spreads & Fees
| | |
Average Trading Cost EUR/USD | 1.1 pips | 1.1 pips |
Average Trading Cost GBP/USD | 1.3 pips | 1.4 pips |
Average Trading Cost WTI Crude Oil | $0.035 | $2.50 |
Average Trading Cost Gold | $0.63 | $0.15 |
Average Trading Cost Bitcoin | $60 | 25 |
Minimum Raw Spreads | 0.0 pips | 0.0 pips |
Minimum Standard Spreads | 0.8 pips | 1.0 pips |
Minimum Commission for Forex | $5 per $100K | 6.00 per round lot (cTrader) / $7.00 per round lot (MT4/MT5) |
Deposit Fee | ||
Withdrawal Fee | ||
Inactivity Fee | $15 monthly after 12 months | $0 |
| Get Started | Get Started |
FOREX.com and Pepperstone have commission-free and commission-based pricing environments, but which are cheaper?
Pepperstone’s fees are lower for commission-free accounts, while FOREX.com’s fees shine with lower commission-based trading costs and a higher-paying volume-based rebate program, granting it an overall pricing advantage.
Account Types
The FOREX.com account types lack swap-free Islamic accounts and managed account options, which the Pepperstone account types provide, together with more copy trading potions.
Are there any other noteworthy differences in the account structure between Forex.com vs. Pepperstone?
Here is what stands out the most:
- FOREX.com has lower commissions.
- FOREX.com has higher rebates.
- TradingView is equally available.
- Pepperstone has lower commission-free costs.
- Pepperstone has no minimum deposit requirement.
Minimum Deposit
How difficult is it to deposit at FOREX.com vs. Pepperstone?
The FOREX.com minimum deposit is a reasonable $100, while the Pepperstone minimum deposit is $0. Cryptocurrency deposits are unavailable at both brokers, but Pepperstone supports more deposit payment processors and deposit currencies, making the deposit process more convenient for most traders. Deposits are free of internal fees at Forex.com and Pepperstone.
Minimum Withdrawal
Whose withdrawal process is better: FOREX.com or Pepperstone?
Neither broker levies withdrawal fees, but during my Pepperstone review, withdrawal times were faster than FOREX.com's. The FOREX.com withdrawal methods require a $100 minimum withdrawal, whereas Pepperstone has no minimum. FOREX.com and Pepperstone have a trusted withdrawal infrastructure, but neither offers cryptocurrency withdrawals. Pepperstone has an edge due to the choice of payment processors.
Security & Trust
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Country of the Regulator | Australia, Canada, Cyprus, Japan, Cayman Islands, Singapore, United Kingdom, United States | United Arab Emirates, Australia, The Bahamas, Cyprus, Germany, Kenya, United Kingdom |
Name of the Regulator | ASIC, CFTC, CIMA, CySEC, FCA, FSA, IIROC, NFA | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB |
Regulatory License Number | 0339826,291, Undisclosed, 446717, 400/21, 25033, 345646, Undisclosed | 414530, 91279, 128, 388/20, F004356, 684312, F217 |
| Get Started | Get Started |
Which broker is more secure and trustworthy?
FOREX.com and Pepperstone belong to the most established Forex brokers with excellent track records spanning 14+ years. Both brokers segregate client deposits from corporate funds, offer negative balance protection, and comply with multiple regulators. Therefore, I rank Forex.com and Pepperstone equally regarding security, safety, and trust.
Forex.com versus Pepperstone Verdict
FOREX.com
Pros | Cons |
80+ currency pairs and overall quality asset selection | Limited funding options |
High-quality proprietary web-based and desktop trading platform plus MT4/MT5 | |
Competitive trading costs for active traders | |
Research, education, and quality trading tools |
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 |
Which Forex broker is better?
Both brokers maintain competitive trading environments, and I recommend traders evaluate trading conditions in the FOREX.com demo account and the Pepperstone demo account.
Here is my verdict:
Pepperstone is among the most competitive Forex brokers with excellent NDD order execution. FOREX.com pulls ahead with Capitalise AI for algorithmic trading in a code-free environment and lower trading fees.
FAQs
Which broker is better than Pepperstone?
Pepperstone is a relatively good broker, especially for anyone seeking a true ECN broker. However, there are a few better alternatives to Pepperstone, notably FOREX.com.
Is FOREX.com real or fake?
FOREX.com is real and ranks among the most trusted Forex brokers with 20+ years of experience.
Is my money safe with Pepperstone?
Traders should consider their money safe with Pepperstone, as it complies with seven regulators and has a clean track record exceeding 14 years.
Is FOREX.com a good broker?
FOREX.com is an excellent broker with a trustworthy and competitive trading environment, low trading fees and high volume-based rebates, a balanced asset selection, and cutting-edge trading platforms and tools.