If you are reading this article, you’re likely having trouble deciding whether Pepperstone or IG Markets is the better Forex trading platform for you. While both platforms generally provide positive user experiences, there are some essential differences to note.
In this Pepperstone vs IG Markets review, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate:
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- FP Markets vs Pepperstone - Verdict
Australia Australia ASIC, CMA, CySEC, FSCA ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB 2005 2010 ECN/STP No Dealing Desk, NDD $100 $0 N/A MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-based Other, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+ 1.2 pips 1.1 pips 1.4 pips 1.4 pips $0.02 $2.50 $0.16 $0.15 70.70% 74-89% 0.0 pips 0.0 pips 1.0 pips 1.0 pips $6.00 per Round Lot 6.00 per round lot (cTrader) / $7.00 per round lot (MT4/MT5) Visit Website Visit Website 75-95% of traders on margin lose
Features and Platforms
N/A N/A Visit Website Visit Website 75-95% of traders on margin lose
FP Markets, a leading Australian broker, provides traders with upgraded MT4/MT5 trading platforms on top of its geographically restricted proprietary alternative, Iress. Retail account management is available via the MAM/PAMM accounts, while FP Markets also offers social trading options, VPS hosting, and an excellent cost structure. Pepperstone, another competitive Australian broker, is home to one of the best MT4/MT5 upgrade packages, while cTrader is equally available. Social trading support exists via three market-leading providers. A volume-based reward program offers traders a superior pricing environment, while both brokers remain overall very competitive.
Available Markets
N/A N/A N/A N/A Visit Website Visit Website 75-95% of traders on margin lose
Traders at FP Markets get over 70 currency pairs and 11 cryptocurrency pairs. It also offers 10 commodities, 54 equity CFDs for most international traders who remain excluded from Iress, where FP Markets lists more than 10,000. Completing the asset selection are 15 index CFDs, more than 290 ETFs, and 2 bonds. MT4/MT5 accounts remain limited in their choice of trading instruments. Pepperstone counters with 61 currency pairs, nine cryptocurrency pairs, and 23 commodities. It treats all clients to an equal number of equity CFDs, 64, complemented by 14 index CFDs. Pepperstone provides most clients with more trading choices, excluding the Iress account at FP Markets.
Typical Spreads and Fees
1.2 pips 1.1 pips 1.4 pips 1.4 pips $0.02 $2.50 $0.16 $0.15 $21.08 25 0.0 pips 0.0 pips 1.0 pips 1.0 pips $6.00 per Round Lot 6.00 per round lot (cTrader) / $7.00 per round lot (MT4/MT5) No $0 Visit Website Visit Website 75-95% of traders on margin lose
FP Markets maintain an equally overpriced commission-free account structure with a minimum mark-up of 1.0 pips or $10 per 1.0 standard lots. The commission-based alternative at both remains highly competitive. FP Markets commences from 0.0 pips for a commission of $6.00 per round lot. Pepperstone shows a minimum spread of 0.0 pips and a fee of $7.00. The volume-based cash rebated program may lower costs to $5.95, down by 15%. Traders must pay swap rates on leveraged overnight positions, and third-party payment processor costs may apply. FP Markets retains a marginal pricing edge over Pepperstone.
Security and Trust
Australia, Cyprus, Kenya, South Africa United Arab Emirates, Australia, The Bahamas, Cyprus, Germany, Kenya, United Kingdom ASIC, CMA, CySEC, FSCA ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB 286354, 103, 371/18, 50926 414530, 91279, 128, 388/20, F004356, 684312, F217 Visit Website Visit Website 75-95% of traders on margin lose
The Australian Securities and Investments Commission (ASIC) is the primary authority regulating FP Markets and Pepperstone. It is one of the most competitive global regulators and the best Tier I option. FP Markets also operates an additional unit authorized by the Cyprus Securities and Exchange Commission (CySEC) and one unregulated one out of St. Vincent & the Grenadines. Pepperstone has subsidiaries licensed and regulated by the UK Financial Conduct Authority (FCA), the Securities Commission of the Bahamas (SCB), and the Dubai Financial Services Authority (DSFA). FP Markets and Pepperstone rank among the most secure and trustworthy ones
FP Markets vs Pepperstone – Verdict
FP Markets and Pepperstone remain two competitive Australian-based brokers. The geographic restriction of the Iress trading platform and its 10,000+ equities at FP Markets drops this broker notably down the rankings. Most international traders have no access to it and trade with the unregulated unit operating out of St. Vincent & the Grenadines. The asset selection for MT4/MT5 traders remains below average, but clients get one of the best commission-based cost structures, including a volume-based rebate program. Pepperstone offers the potentially best MT4/MT5 upgrade among all global brokers, besting what FP Markets provides and deploys an excellent pricing environment. The maximum leverage at both brokers is 1:500, social trading is available, together with quality research at FP Markets and Pepperstone. Both brokers offer new traders valuable educational content, where FP Markets has an edge. FP Markets and Pepperstone represent two of the most trusted international brokers.
Safety, security, and trustworthiness at both brokers remain exceptional. Pepperstone has more regulated subsidiaries, while most international traders at FP Markets trade with their unregulated entity. Both are transparent brokers
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