FXTM maintains the core MT4/MT5 trading platforms. The order execution includes an average execution speed of 0.072 seconds and an average price improvement of 0.29 pips or $2.90 per lot, confirming deep liquidity. Quality education, market research, and trading signals assist beginners.

The Smart Trader Tools upgrade plus the Autochartist plugin ensures the Pepperstone MT4/MT5 trading environments rank among the most competitive globally. Pepperstone also has cTrader, Myfxbook Autotrade, and DupliTrade. Beginner traders get quality education and research, and Pepperstone added Capitalise AI, a code-free environment to automate trading.

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

Headquarters
MauritiusAustralia
Regulators
CMA, FCA, FSC Mauritius, FSCAASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Tier 1 Regulator(s)?
N/A
Owned by Public Company?
Year Established
20112010
Execution Type(s)
ECN/STP, Market MakerNo Dealing Desk, NDD
Minimum Deposit
$200$0
Trading Platform(s)
MetaTrader 4, MetaTrader 5, Proprietary platformOther, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+
Average Trading Cost EUR/USD
0.1 pips1.1 pips
Average Trading Cost GBP/USD
0.2 pips1.4 pips
Average Trading Cost WTI Crude Oil
$0.09 $2.50
Average Trading Cost Gold
$0.18 $0.15
Retail Loss Rate
77.00%74-89%
Minimum Raw Spreads
0.0 Pips0.0 pips
Minimum Standard Spreads
1.5 pips 1.0 pips
Minimum Commission for Forex
$0.80 - $4.00 per round lot6.00 per round lot (cTrader) / $7.00 per round lot (MT4/MT5)
Islamic Account
Signals
US Persons Accepted?
Managed Accounts
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Features and 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
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Noteworthy:

Traders at FXTM must deposit $200 to access the account type with the most competitive trading conditions. Pepperstone supports API trading, added the active TradingView community, and has a volume-based spread reduction program.

Available Markets

Currency Pairs
Cryptocurrencies
N/A
Commodities
Crude Oil
Gold
Metals
Equity Indices
Stocks (non-CFDs)
N/A
Bonds
N/A
ETFs
Options
N/A
Futures
Synthetics
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Both brokers maintain 1,000+ trading instruments, ensuring a balanced asset selection. Pepperstone offers cryptocurrencies and ETFs, which are unavailable at FXTM. Equity traders at FXTM get direct share investments and in-house thematic stock baskets for long-term investors, while Pepperstone offers listing from 23 exchanges. Traders can achieve proper cross-asset diversification at both brokers.

Typical Spreads and Fees

Average Trading Cost EUR/USD
0.1 pips1.1 pips
Average Trading Cost GBP/USD
0.2 pips1.4 pips
Average Trading Cost WTI Crude Oil
$0.09 $2.50
Average Trading Cost Gold
$0.18 $0.15
Average Trading Cost Bitcoin
N/A25
Minimum Raw Spreads
0.0 Pips0.0 pips
Minimum Standard Spreads
1.5 pips 1.0 pips
Minimum Commission for Forex
$0.80 - $4.00 per round lot6.00 per round lot (cTrader) / $7.00 per round lot (MT4/MT5)
Deposit Fee
Withdrawal Fee
Inactivity Fee
$5 monthly after 6 months $0
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While FXTM and Pepperstone both provide traders with highly competitive pricing environments and raw spreads from 0.0 pips, the former takes the lead in commission-based cost, even after the volume-based Pepperstone rebates. FXTM also maintains an edge for equity traders, but Pepperstone offers cheaper commission-free trading costs.

Security and Trust

Country of the Regulator
Cyprus, Kenya, Mauritius, United Kingdom, South AfricaUnited Arab Emirates, Australia, The Bahamas, Cyprus, Germany, Kenya, United Kingdom
Name of the Regulator
CMA, FCA, FSC Mauritius, FSCAASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Regulatory License Number
185/12, 777911, C113012295, 135, 46614414530, 91279, 128, 388/20, F004356, 684312, F217
Visit WebsiteVisit Website 75-95% of traders on margin lose

Segregation of client deposits from corporate funds and negative protection exists at both FXTM and Pepperstone. The UK and the CySEC subsidiaries at both brokers have investor compensation funds, and FXTM and Pepperstone have clean regulatory records and trustworthy reputations.

Pepperstone vs FXTM – Verdict

Pepperstone

ProsCons
Excellent choice of trading platforms consisting of MT4/MT5, and cTraderMinimum deposits are slightly higher but within a reasonable range
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

FXTM

FXTM

ProsCons
Excellent commission-based Forex pricing environment and transparency No cryptocurrencies and a limited choice of commodities
Upgraded MT4/MT5 trading platforms plus proprietary mobile trading app
Quality market research and educational content for beginner traders

A highly regulated broker with a tier-1 license

Pepperstone presents an excellent trading environment with algorithmic trading at its core and a competitive choice for copy traders. Deep liquidity, a balanced asset selection, and superb order execution are equally available. FXTM takes the overall lead due to cheaper trading costs and an average price improvement of 0.29 pips or $2.90 per lot.

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

Read full FXTM Review
Read full Pepperstone Review

FAQs

Which broker is better than Pepperstone?

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The minimum deposit for FXTM is $200, for the Advantage account which offers highly competitive trading conditions.

Is Pepperstone a scammer?

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Pepperstone is not a scammer but one of the most trusted brokers industry-wide, compliant with seven regulators, and has a spotless operational record.

How good is Pepperstone?

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Pepperstone offers low trading costs, a balanced asset selection, extensive algorithmic trading support, and social trading alternatives. It remains one of the most competitive brokers all-round.

What is the minimum deposit for FXTM?

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The minimum deposit for FXTM is $200, for the Advantage account which offers highly competitive trading conditions.

How long does a Pepperstone withdrawal take?

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Pepperstone processes withdrawals daily, but if a request arrives after the cut-off time, it processes it the following business day. It can take up to seven business days for clients to receive their funds, dependent on their geographic location and payment processor.

Which FXTM account is best?

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The best account at FXTM is Advantage, where traders get competitive trading conditions for a minimum deposit of $200.

How long does it take to withdraw from FXTM?

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While FXTM handles withdrawal requests daily, it may take up to ten business days for clients to receive their funds, payment processor, and geographic location dependent.

Does FXTM have a bonus?

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FXTM has bonuses and promotions listed on its website, except in jurisdictions where these may not be offered by law.