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CMC Markets vs Pepperstone: Comparison and Analysis

Written by Filippo Ucchino Fact-Checked by Luca Puddu Publication Date Last Updated
Our verdict · CFD/FX trading

CMC Markets and Pepperstone are two great brokers for scalping. However, Pepperstone is the better choice if you are looking for cTrader, ETFs among its CFD markets, faster deposits and withdrawals (1 day against 2 days), and extra trading conditions, including expert advisors, high-frequency trading strategies, VPS and API access. CMC Markets, on the other hand, is better because it has a lower EUR/USD cost (7.00 USD per lot against 9.50 USD), a lower minimum deposit (none against 10.00 USD) and faster execution (9 ms against 30 ms). CMC Markets is regulated by BaFin, the FCA, ASIC and CIRO, while Pepperstone is regulated by CySEC, BaFin, the FCA, ASIC and the DFSA, with an offshore company regulated by the SCB (Bahamas). Both brokers offer a demo account. Both offer crypto CFDs except at their UK companies.

CMC Markets

CFDCFD CMC Markets offers CFD trading: leveraged contracts that follow the price of an asset without owning it. Switch the comparison to CFD/FX to rate it on that. FXFX CMC Markets offers forex trading: currency pairs such as EUR/USD, traded with leverage. Forex is rated together with CFDs, on the CFD/FX side.
CMC Markets review ›
85CFD/FXOverall score CMC Markets scores 85/100 for CFD/FX trading. The overall score is calculated from the data in this comparison across 12 areas.
Open Account

78% of retail investor accounts lose money when trading CFDs with this provider.

Pepperstone

CFDCFD Pepperstone offers CFD trading: leveraged contracts that follow the price of an asset without owning it. Switch the comparison to CFD/FX to rate it on that. FXFX Pepperstone offers forex trading: currency pairs such as EUR/USD, traded with leverage. Forex is rated together with CFDs, on the CFD/FX side.
Pepperstone review ›
85CFD/FXOverall score Pepperstone scores 85/100 for CFD/FX trading. The overall score is calculated from the data in this comparison across 12 areas.
Open Account

74-89% of retail investor accounts lose money when trading CFDs with this provider.

Best for

What we compare A comparison of the kinds of traders CMC Markets and Pepperstone are best suited to, based on what each one actually offers in .
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CMC Markets is better than Pepperstone for day traders, while Pepperstone is better for professional traders. High-volume traders, scalpers and swing traders can choose either CMC Markets or Pepperstone.

Best for
Overall score CMC Markets 85 Pepperstone 85
Day trading i
Long-term investing i
Professional traders i
High-volume traders i
Scalpers i
Swing traders i
News traders i
Algo traders i
Stock traders i
Crypto traders i
Futures traders i
Options traders i

Regulation

What we compare A comparison between the financial authorities that supervise CMC Markets and the ones that supervise Pepperstone.
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CMC Markets and Pepperstone are both regulated by top-tier authorities, CMC Markets by BaFin, ASIC (Australia) and the FCA (United Kingdom) and Pepperstone by BaFin, CySEC and ASIC (Australia).

Regulation
Section score CMC Markets 100 Pepperstone 100
Tier-1 regulators
ESMA (European Union) i BaFin (Germany) CySEC (Cyprus)
FCA (United Kingdom) i
ASIC (Australia) i
CFTC (United States) i
NFA (United States) i
SEC (United States) i
CIRO (Canada) i
MAS (Singapore) i
SFC (Hong Kong) i
JFSA (Japan) i
FINMA (Switzerland) i
Tier-2 regulators
FMA (New Zealand) i
CBR (Russia) i
FSCA (South Africa) i
DFSA (Dubai) i
CSRC (China) i
ISA (Israel) i
LFSA (Malaysia) i
JSC (Jordan) i
CMA (Kenya) i
Tier-3 regulators
FSA (Seychelles) i
MMA (Maldives) i
SCB (Bahamas) i
FSC (Mauritius) i
VFSC (Vanuatu) i
FSC (Belize) i
CIMA (Cayman Islands) i
SV FSA (Saint Vincent and the Grenadines) i
FSRC (St. Kitts & Nevis) i
BMA (Bermuda) i
BVI FSC (British Virgin Islands) i
EDR (External Dispute Resolution) i

Safety

What we compare A comparison of the tools and services that CMC Markets and Pepperstone have in place to protect your money in .
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Both CMC Markets and Pepperstone offer segregated client funds and an investor compensation scheme. CMC Markets also offers additional money insurance.

Safety
Section score CMC Markets 95 Best Pepperstone 78 -17
Company info
Is it publicly traded i
Is it a bank i
Year founded i 1989 2010
Parent company i CMC Markets plc Pepperstone Group Limited
CEO i Peter Cruddas Tamas Szabo
Money safety
Segregated client funds i
Two-factor authentication i
Investor compensation scheme i
Additional money insurance i
Partner bank i Barclays Bank Ireland, J.P. Morgan SE N/A
Brand power
Number of customers worldwide i 1,000,000 900,000
Annual revenue i USD 324,700,000 USD 13,000,000
Monthly website search traffic i 10.5M monthly visits 1.3M monthly visits

Costs

What we compare A comparison of what it costs to trade with CMC Markets and with Pepperstone in , both on each trade and on holding the account.
4 / 12

CMC Markets is better than Pepperstone for costs, since CMC Markets is cheaper on EUR/USD, at 7 USD per lot (against Pepperstone's 9.5 USD), and has tighter gold CFD spreads, at 0.2 points (against Pepperstone's 0.5 points). Neither CMC Markets nor Pepperstone charges inactivity fees or account maintenance fees.

Costs
Section score CMC Markets 81 Best Pepperstone 72 -9
Broker fees
Deposit fees i
Withdrawal fees i
Overnight fees i
Inactivity fees i
Currency conversion fees i
Discounts on volume i
Real time market data fee i
Dividend withholding i
Account opening fees i
Account maintenance fee i
Portfolio management fee i
Fees on CFDs
Forex commission per lot i USD 5 USD 7
EUR/USD average standard spread i
0.7 pips
1.1 pips
EUR/USD average raw spread i
0.1 pips
EUR/USD average fixed spread i
EUR/USD total cost per lot i USD 7 USD 9.5
S&P 500 fees (CFD) i 0.5 points 0.47 points
Gold fees (CFD) i 0.2 points 0.5 points
Bitcoin fees (CFD) i USD 15
US stocks fees (CFD) i USD 0.02 USD 0.02
Fees on stocks
Stock fee type i Commission, Percentage
US stocks fees (real) i
ETF fees (real) i
Management costs i
Connection costs i
Fees on futures
Futures fees per contract i
Platform fees i
Fees on options
Options fees per contract i Free
Event fees i
Fees on savings plans
IRA opening fee i
IRA maintenance fee i
401k opening fee i
401k maintenance fee i

Available markets

What we compare A comparison of the markets and products you can trade with CMC Markets and with Pepperstone in , and of how many instruments each one gives access to.
5 / 12

CMC Markets and Pepperstone are equally good for available markets, as CMC Markets gives access to 12,000 tradable symbols (against Pepperstone's 1,444). On the other hand, Pepperstone offers CFDs on ETFs. Both CMC Markets and Pepperstone offer CFDs on commodities, crypto, forex, indices and stocks.

Available markets
Section score CMC Markets 75 Pepperstone 75
Total tradable symbols i 12,000 1,444
Currency pairs i
Indices i
Commodities i
Stocks i
ETF i
Cryptocurrencies i
Bonds i
Interest rates i
Portfolios i
CFDs i Commodities, Crypto, Forex, Indices, Stocks Commodities, Crypto, ETF, Forex, Indices, Stocks
Futures i
Options i
Assets you can own i

Platform

What we compare A comparison of the trading platforms that CMC Markets and Pepperstone make available to their clients in .
6 / 12

CMC Markets and Pepperstone are equally good for platforms, as CMC Markets offers copy trading while Pepperstone offers cTrader and AutoChartist. CMC Markets and Pepperstone both offer a proprietary platform and MetaTrader 5.

Platform
Section score CMC Markets 97 Pepperstone 97
Proprietary platform i
MetaTrader 4 i
MetaTrader 5 i
cTrader i
Social trading platform i
Copy trading platform i
ZuluTrade i
TradingView i
Duplitrade i
Mirror Trader i
NinjaTrader i
AutoChartist i
Real time pricing i
5 digit pricing i
One-click trading i

Mobile

What we compare A comparison of the mobile apps of CMC Markets and Pepperstone in , and of what each one lets you do from your phone.
7 / 12

Pepperstone is better than CMC Markets for mobile trading, given that Pepperstone offers the cTrader app, a social trading app and mobile trading signals, which CMC Markets does not. CMC Markets and Pepperstone both offer a proprietary mobile app and the MetaTrader 5 app.

Mobile
Section score CMC Markets 73 -25 Pepperstone 98 Best
Proprietary app i
Social trading app i
Copy trading app i
MetaTrader 4 app i
MetaTrader 5 app i
cTrader app i
Mobile trading signals i
Mobile alerts i
Mobile charting tools i
Mobile drawing tools i
Mobile watchlist i
Smartwatch app i

Trading features

What we compare A comparison of the trading tools and strategies that CMC Markets and Pepperstone allow on their platforms in .
8 / 12

Pepperstone is better than CMC Markets for trading features, because Pepperstone offers tier-1 liquidity providers, VPS hosting and API access, which CMC Markets does not. CMC Markets and Pepperstone both offer negative balance protection and trailing stops.

Trading features
Section score CMC Markets 69 -24 Pepperstone 93 Best
Trade execution
Broker type i Agency NDD
Average execution time i 9 ms 30 ms
Slippage occurrence i
Requotes occurrence i 0.08% 0.08%
Tier-1 liquidity providers i
PFOF i
Leverage
Major FX pairs leverage i 30:1About this value. This is the major fx pairs leverage at CMC Markets Germany GmbH (BaFin). At CMC Markets' other companies: 30:1 (Australia, the UK), 50:1 (Canada). 30:1About this value. This is the major fx pairs leverage at Pepperstone EU Limited (CySEC). At Pepperstone's other companies: 200:1 (the UAE, other accepted countries), 30:1 (the EU, Australia, the UK).
Minor/Exotic FX pairs leverage i 20:1About this value. This is the minor/exotic fx pairs leverage at CMC Markets Germany GmbH (BaFin). At CMC Markets' other companies: 20:1 (Australia, the UK), 33:1 (Canada). 20:1About this value. This is the minor/exotic fx pairs leverage at Pepperstone EU Limited (CySEC). At Pepperstone's other companies: 200:1 (the UAE, other accepted countries), 20:1 (the EU, Australia, the UK).
Major indices leverage i 20:1About this value. This is the major indices leverage at CMC Markets Germany GmbH (BaFin). At CMC Markets' other companies: 20:1 (Australia, the UK), 10:1 (Canada). 20:1About this value. This is the major indices leverage at Pepperstone EU Limited (CySEC). At Pepperstone's other companies: 200:1 (the UAE, other accepted countries), 20:1 (the EU, Australia, the UK).
Minor indices leverage i 10:1 10:1About this value. This is the minor indices leverage at Pepperstone EU Limited (CySEC). At Pepperstone's other companies: 100:1 (the UAE, other accepted countries), 10:1 (the EU, Australia, the UK).
Gold leverage i 20:1 20:1About this value. This is the gold leverage at Pepperstone EU Limited (CySEC). At Pepperstone's other companies: 200:1 (the UAE, other accepted countries), 20:1 (the EU, Australia, the UK).
Commodities leverage i 10:1About this value. This is the commodities leverage at CMC Markets Germany GmbH (BaFin). At CMC Markets' other companies: 10:1 (Australia, the UK), 30:1 (Canada). 10:1About this value. This is the commodities leverage at Pepperstone EU Limited (CySEC). At Pepperstone's other companies: 50:1 (the UAE, other accepted countries), 10:1 (the EU, Australia, the UK).
Equities leverage i 5:1About this value. This is the equities leverage at CMC Markets Germany GmbH (BaFin). At CMC Markets' other companies: 5:1 (Australia, the UK), 3:1 (Canada). 5:1About this value. This is the equities leverage at Pepperstone EU Limited (CySEC). At Pepperstone's other companies: 20:1 (the UAE, other accepted countries), 5:1 (the EU, Australia, the UK).
Cryptocurrency leverage i 2:1 2:1About this value. This is the cryptocurrency leverage at Pepperstone EU Limited (CySEC). At Pepperstone's other companies: 20:1 (the UAE, other accepted countries), 2:1 (the EU, Australia).
Risk management
Stop losses i
Take profits i
Limit orders i
Trailing stop i
Margin call i
OCO orders i
Guaranteed stop loss i
Negative balance protection i
Minimum trade size (FX) i 0.01 lots 0.01 lots
Minimum trade size (stocks) i USD 0 USD 0
Fractional stocks i
Trading compliance
Scalping strategies allowed i
Hedging strategies allowed i
Automated trading strategy allowed i
EAs use allowed i
HFT strategy allowed i
VPS use allowed i
API use allowed i
Price scraping allowed i
FIFO rule applies i

Account types

What we compare A comparison of the kinds of account you can open at CMC Markets and at Pepperstone in , and of who each one is meant for.
9 / 12

Pepperstone is better than CMC Markets for account types, given that Pepperstone offers an ECN account, an Islamic account and a swap-free account, which CMC Markets does not. CMC Markets and Pepperstone both offer a demo account and a professional traders account.

Account types
Section score CMC Markets 48 -19 Pepperstone 67 Best
Demo account i
Unlimited demo account i
Standard account i
Micro account i
Cent account i
Nano account i
Raw spread account i
ECN account i
Swap-free account i
Islamic account i
Professional traders account i
Fixed spread account i
Spread betting account i
Copy trading account i
Corporate account i
Managed account i
Stock investing account i
Margin investing account i
Savings account i
Retirement account i

Account opening

What we compare A comparison of what it takes to open and fund an account with CMC Markets and with Pepperstone in .
10 / 12

Pepperstone is better than CMC Markets for account opening, since Pepperstone offers 4 account base currencies (against CMC Markets' 2), supports e-wallets, which CMC Markets does not, and credits deposits faster, within 1 day (against CMC Markets' 2 days). That said, CMC Markets asks for no minimum deposit at all (against Pepperstone's 10 USD).

Account opening
Section score CMC Markets 65 -5 Pepperstone 70 Best
Minimum deposit i USD 0 USD 10
Minimum withdrawal i USD 0 USD 0
Wire transfers i
Credit cards i
Debit cards i
eWallets i PayPalAbout this value. This is the ewallets at Pepperstone EU Limited (CySEC). It is different at Pepperstone's companies in the UAE, Australia and other accepted countries.
Local payment methods i
Account base currencies i EUR, USDAbout this value. This is the account base currencies at CMC Markets Germany GmbH (BaFin). It is different at CMC Markets' companies in Australia. GBP, USD, EUR, CHFAbout this value. This is the account base currencies at Pepperstone EU Limited (CySEC). It is different at Pepperstone's companies in the UAE, the EU, other accepted countries and Australia.
Deposit waiting time i up to 2 business days up to 1 business days
Withdrawal waiting time i up to 2 business days up to 1 business days
Bonus program i

Customer care

What we compare A comparison of the customer support of CMC Markets and Pepperstone in , in how it can be reached and how fast it answers.
11 / 12

There is little between CMC Markets and Pepperstone on customer care, as both offer a dedicated account manager and phone support. Pepperstone has a slight edge, as it offers customer support in 10 languages (against CMC Markets' 9).

Customer care
Section score CMC Markets 73 Pepperstone 73
Number of languages supported i 9 10
Website languages i German, English, French, Italian, Norwegian, Polish, Spanish, Swedish, Chinese Arabic, English, Italian, Korean, Polish, Russian, Spanish, Vietnamese, Chinese
Website available in English i
Customer support languages i German, English, French, Italian, Norwegian, Polish, Spanish, Swedish, Chinese Arabic, English, Italian, Korean, Polish, Russian, Spanish, Thai, Vietnamese, Chinese
Customer support in English i
Call back request i
Email support i
Phone support i
Live chat i
Priority customer support i
Dedicated account manager i
Cash sweep i
Stock lending i
Distributes proceeds i
Tax withholding agent i
Tax assistance i

Learning

What we compare A comparison of the educational material that CMC Markets and Pepperstone provide to their clients in .
12 / 12

CMC Markets is better than Pepperstone for learning, as CMC Markets offers professional reports, which Pepperstone does not. Both CMC Markets and Pepperstone offer education for advanced traders and webinars.

Learning
Section score CMC Markets 100 Best Pepperstone 88 -12
Education
Education center i
Education for beginners i
Education for advanced traders i
Webinars i
Tutorials i
Glossary i
Research
Economic calendar i
Traders' sentiment i
Daily market commentary i
Daily trading ideas i
News via social media i
Professional reports i
Watchlist i
CMC Markets
Open Account 78% of retail investor accounts lose money when trading CFDs with this provider.
Pepperstone
Open Account 74-89% of retail investor accounts lose money when trading CFDs with this provider.
Our verdict

CMC Markets vs Pepperstone: which one should you choose?

CMC Markets

CFD/FX Choose CMC Markets if you want a forex broker with low trading costs and fast order execution.

Open Account 78% of retail investor accounts lose money when trading CFDs with this provider.
Pepperstone

CFD/FX Choose Pepperstone if you want an online CFD broker with cTrader, ETFs and expert advisors.

Open Account 74-89% of retail investor accounts lose money when trading CFDs with this provider.

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