fbpx
FxPro vs Pepperstone - 2024 Comparison | FxScouts
AuthorAuthor: Björn MichelsUpdated: May 8, 2024

Last Updated On May 8, 2024

Björn Michels

Trading with a reputable online broker is a crucial factor for success in the international markets. At FxScouts, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

Scroll for more detailsPreviousNext
Broker Score
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.39/ 5 USD 100FCA Regulated BrokersCySEC Regulated BrokersFSCA Regulated Forex BrokersDubai Financial Services AuthoritySecurities Commission of the BahamasMarket Maker NDDCryptocurrencies, Energies, Stock CFDs, Forex, Futures, Indices, Metals7030
  • Well regulated
  • Great platform choice
  • Tight spreads
  • Limited education
Read Review 11110.54.5/ 5 11110.54.5/ 5 111115/ 5 111115/ 5 1110.503.5/ 5 1110.503.5/ 5 11110.54.5/ 5 71.58%200:10.40 pips FxPro cTrader, FxPro MT4, FxPro MT5, Islamic, ProEdge MT4, MT5, cTrader, FxProEdgeBank Transfer, Mastercard, Neteller, Paypal, Skrill, Unionpay, Visa9 USD / lot
11110.54.61/ 5 USD 0FCA Regulated BrokersASIC Regulated Forex BrokersCySEC Regulated BrokersBundesanstalt für FinanzdienstleistungsaufsichtCapital Markets AuthorityNDDCommodities, Cryptocurrencies, Stock CFDs, ETFs, Forex, Indices, Metals10019
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
  • Limited market analysis
Read Review 111115/ 5 11110.54.5/ 5 111115/ 5 111104/ 5 11110.54.5/ 5 11110.54.5/ 5 11110.54.5/ 5 0400:10 pips cTrader Razor, MT5 Razor, MT4 Razor, Standard, Swap-free MT4, MT5, cTrader, TradingViewBank Transfer, BPay, Mastercard, Neteller, Paypal, POLi, Skrill, Unionpay, VisaFrom 7 USD / lot - Razor Account

How do Pepperstone and FxPro stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

FxPro

Pepperstone

At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare Pepperstone and FxPro, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does Pepperstone or FxPro have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that Pepperstone holds three Tier 1 and one Tier 2 licences, and FxPro holds two Tier 1 and one Tier 2 licences.

 

Is Pepperstone financially regulated?

Yes Pepperstone was founded in 2010 and is regulated by ASIC, BaFin, CMA, CySEC and FCA.

 

Is FxPro financially regulated?

Yes FxPro was founded in 2006 and is regulated by CySEC, DFSA, FCA, FSCA and SCB.

 

Based on these findings, Pepperstone earned a higher trust rating than FxPro.

Does Pepperstone or FxPro have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that Pepperstone has overall lower trading costs than FxPro. 

Scroll for more detailsPreviousNext
Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
FxPro
11110.54.5/ 5
ZAR, USD, GBP, CHF, EUR, PLN, AUD, JPY
1.40 pips
USD 14
0.40 pips
1.00 pips
0.60 pips
USD 0
Pepperstone
11110.54.5/ 5
EUR, GBP, USD, AUD, NZD, JPY, CHF, SGD, HKD, CAD
1.00 pips
USD 10
0.17 pips
0.59 pips
0.26 pips
USD 0

 

Does Pepperstone or FxPro offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, Pepperstone offers support for cTrader, MT4, MT5 and TradingView and FxPro offers support for cTrader, MT4, MT5 and FxProEdge. 

Do the brokers offer copy trading?

Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both FxPro and Pepperstone offer copy trading.

Scroll for more detailsPreviousNext
Broker
Platform Choice
Copy Trading
Platforms
FxPro
111115/ 5
FxProEdge
Pepperstone
111115/ 5
TradingView

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that Pepperstone offers a greater range and depth of instruments to trade than FxPro. Pepperstone offers 100 Forex pairs to trade and FxPro offers 70 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, FxPro offers 30 cryptocurrencies while Pepperstone offers 19 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with FxPro.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that neither FxPro nor Pepperstone charges a withdrawal fee. Overall, FxPro has better deposit and withdrawal processes than Pepperstone. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

FxPro and Pepperstone both have moderate educational support. Both FxPro and Pepperstone offer educational support for more experienced traders.

Scroll for more detailsPreviousNext
Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
FxPro
Medium
Pepperstone
Medium

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that Pepperstone offers better research analysis than FxPro and that both FxPro and Pepperstone offer frequent webinars.

Scroll for more detailsPreviousNext
Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
FxPro
Pepperstone

 

Our overall Verdict on Pepperstone

One of our highest rated brokers for South African traders, Pepperstone was founded in Australia in 2010 and is globally renowned for its low trading costs and choice of trading platforms. Pepperstone keeps costs low with some of the tightest spreads we've seen, starting at 1.00 (EUR/USD) on its Standard Account. For those who prefer classic ECN trading, the Razor Account has low commissions and spreads averaging at just 0.10 pips on the EUR/USD. Neither account has a required minimum deposit.

Despite the low costs, we are disappointed with Pepperstone's complicated commission structure and lack of FSCA regulation. But more experienced traders will appreciate Pepperstone’s trading platform options, including MT4, MT5, and cTrader, which integrates seamlessly with the TradingView tool. All are available on desktop and mobile devices. Pepperstone’s education section is not the most extensive we’ve seen, but it is competent and well-structured, making it a good place to start for beginner traders. 

Our overall Verdict on FxPro

FxPro is a well-regulated broker with a wide range of accounts, reasonable minimum deposits, and an excellent selection of trading platforms. South African traders should be aware that even though FxPro is regulated by the South African FSCA, they will be onboarded through FxPro’s Bahamas-based entity. This means that South African traders have few legal rights in the event of a dispute with the company. 

Its education and market analysis are good for beginners, but lack the depth sought by more experienced traders. However, we were impressed with how easy-to-use FxPro’s mobile trading app was and the quality of customer support we received. Support is available in a range of languages, 24 hours a day, seven days a week.  

Which broker has the highest overall rating?

Pepperstone has an overall rating of 4.61 and FxPro has an overall rating of 4.39. For more detail please read our reviews of Pepperstone and FxPro.

Stay updated

This form has double opt in enabled. You will need to confirm your email address before being added to the list.

Close