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Plus500 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

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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
11110.54.09/ 5
ZAR 1500
FCA Regulated Brokers
CySEC Regulated Brokers
ASIC Regulated Forex Brokers
Monetary Authority of Singapore
Financial Markets Authority of New Zealand
Market Maker
Commodities
Cryptocurrencies
Stock CFDs
ETFs
Forex
Indices
70
18
  • Well regulated
  • Wide range of assets
  • Limited education
  • Limited account options
111115/ 5
111003/ 5
111104/ 5
11110.54.5/ 5
1110.503.5/ 5
11110.54.5/ 5
11110.54.5/ 5
79%
30:1
0 pips
Standard
Plus500
Bank Transfer
Mastercard
Paypal
Skrill
Visa
Fees Included in Spread
11110.54.61/ 5
USD 0
FCA Regulated Brokers
ASIC Regulated Forex Brokers
CySEC Regulated Brokers
Bundesanstalt für Finanzdienstleistungsaufsicht
Capital Markets Authority
NDD
Commodities
Cryptocurrencies
Stock CFDs
ETFs
Forex
Indices
Metals
100
19
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
  • Limited market analysis
111115/ 5
11110.54.5/ 5
111115/ 5
111104/ 5
11110.54.5/ 5
11110.54.5/ 5
11110.54.5/ 5
0
400:1
0 pips
cTrader Razor
MT5 Razor
MT4 Razor
Standard
Swap-free
TradingView
Bank Transfer
BPay
Mastercard
Neteller
Paypal
POLi
Skrill
Unionpay
Visa
From 7 USD / lot - Razor Account

How do Pepperstone and Plus500 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.

Pepperstone

Plus500

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 Plus500, 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 Plus500 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 four Tier 1 and one Tier 2 licences, and Plus500 holds three Tier 1 and one Tier 2 licences.

 

Is Plus500 financially regulated?

Yes Plus500 was founded in 2008 and is regulated by ASIC, CySEC, FCA, FMA and MAS.

 

Is Pepperstone financially regulated?

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

 

Based on these findings, Plus500 earned a higher trust rating than Pepperstone.

Does Pepperstone or Plus500 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 Plus500 has overall lower trading costs than Pepperstone. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
Plus500
111003/ 5
AUD, EUR, USD
0.80 pips
USD 8
0.80 pips
0 pips
0 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 Plus500 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 Plus500 offers support for Plus500. 

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 Pepperstone and Plus500 offer copy trading.

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Broker
Platform Choice
Copy Trading
Platforms
Plus500
111104/ 5
Plus500
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 Plus500. Pepperstone offers 100 Forex pairs to trade and Plus500 offers 70 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, Pepperstone offers 19 cryptocurrencies while Plus500 offers 18 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with Pepperstone.

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 Pepperstone nor Plus500 charges a withdrawal fee. Overall, Plus500 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. 

Pepperstone has better educational support than Plus500. Both Pepperstone and Plus500 offer educational support for more experienced traders.

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
Plus500
Low
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 Plus500 and that both Pepperstone and Plus500 offer frequent webinars.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
Plus500
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 Plus500

A trustworthy CFD provider with regulation from eight national authorities and a listing on the London Stock Exchange, Plus500 is a good choice for traders looking for a simple account structure, reasonable trading fees, a wide range of tradable assets, and a well-designed mobile trading app.

Plus500 only offers one trading account, but its trading costs are low compared to many brokers, with spreads starting at 0.8 pips* on the EUR/USD and a minimum deposit of 1500 ZAR. Most traders will also be satisfied with the number of financial assets available, including over 70 Forex pairs and 1900 share CFDs.

Unlike other CFD providers that provide support for a variety of trading platforms – such as MT4, MT5, or cTrader – Plus500 only offers support for its own in-house platform. However, the platform is sleek and well-designed. Available as a mobile app or on the web with no need for any downloads, the platform is equipped with a number of useful risk management tools.

We were disappointed that Plus500’s education and market analysis materials are virtually non-existent, but its award-winning customer service is available 24/7, which is exceptional for an industry where the norm is 24/5.

*spreads correct as of 09:00, 21/06/2022

Which broker has the highest overall rating?

Pepperstone has an overall rating of 4.61 and Plus500 has an overall rating of 4.09. For more detail please read our reviews of Pepperstone and Plus500.

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