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FP Markets vs Pepperstone: Comparison and Analysis

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

FP Markets and Pepperstone are two great brokers for scalping and automated trading. However, Pepperstone is the better choice if you are looking for a proprietary trading platform and faster execution (30 ms against 40 ms), while FP Markets is better because it has more tradable symbols (10,000 against 1,444). FP Markets is regulated by CySEC and ASIC, with an offshore company regulated by the FSA (Seychelles). Pepperstone is regulated by CySEC, BaFin, the FCA, ASIC and the DFSA, with an offshore company regulated by the SCB (Bahamas). FP Markets and Pepperstone both charge 9.50 USD per lot to trade EUR/USD and both offer a demo account. Pepperstone asks for no minimum deposit at any of its companies, while FP Markets asks for 100.00 USD at its European and offshore companies, except at its Australian company, which asks for no minimum deposit. Pepperstone offers crypto CFDs except at its UK company, while every FP Markets company offers them.

FP Markets

CFDCFD FP 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 FP Markets offers forex trading: currency pairs such as EUR/USD, traded with leverage. Forex is rated together with CFDs, on the CFD/FX side.
FP Markets review ›
84CFD/FXOverall score FP Markets scores 84/100 for CFD/FX trading. The overall score is calculated from the data in this comparison across 12 areas.
Open Account

74.56% 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 ›
86CFD/FXOverall score Pepperstone scores 86/100 for CFD/FX trading. The overall score is calculated from the data in this comparison across 12 areas.
Open Account

72.9% of retail investor accounts lose money when trading CFDs with this provider.

Best for

What we compare A comparison of the kinds of traders FP Markets and Pepperstone are best suited to, based on what each one actually offers in .
1 / 12

Pepperstone is better than FP Markets for professional traders and high-volume traders. Scalpers, swing traders and news traders can choose either Pepperstone or FP Markets.

Best for
Overall score FP Markets 84 -2 Pepperstone 86
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 FP Markets and the ones that supervise Pepperstone.
2 / 12

FP Markets and Pepperstone are both regulated by top-tier authorities, FP Markets by CySEC and ASIC (Australia) and Pepperstone by BaFin, CySEC and ASIC (Australia).

Regulation
Section score FP Markets 100 Pepperstone 100
Tier-1 regulators
ESMA (European Union) i CySEC (Cyprus) 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 FP Markets and Pepperstone have in place to protect your money in .
3 / 12

Both FP Markets and Pepperstone offer segregated client funds and an investor compensation scheme.

Safety
Section score FP Markets 79 Pepperstone 78 -1
Company info
Is it publicly traded i
Is it a bank i
Year founded i 2005 2010
Parent company i First Prudential Markets Pty Ltd Pepperstone Group Limited
CEO i Craig Allison Tamas Szabo
Money safety
Segregated client funds i
Two-factor authentication i
Investor compensation scheme i
Additional money insurance i
Partner bank i N/A N/A
Brand power
Number of customers worldwide i 900,000
Annual revenue i USD 13,000,000
Monthly website search traffic i 563.6K monthly visits 1.3M monthly visits

Costs

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

Pepperstone is better than FP Markets for costs, because Pepperstone has tighter EUR/USD standard spreads, at 1.1 pip (against FP Markets' 1.2 pips), does not charge withdrawal fees, unlike FP Markets, and offers volume discounts, which FP Markets does not. Neither FP Markets nor Pepperstone charges inactivity fees or account maintenance fees.

Costs
Section score FP Markets 61 -11 Pepperstone 72 Best
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 6 USD 7
EUR/USD average standard spread i
1.2 pips
1.1 pips
EUR/USD average raw spread i
0.1 pips
0.1 pips
EUR/USD average fixed spread i
EUR/USD total cost per lot i USD 9.5 USD 9.5
S&P 500 fees (CFD) i 0.25 points 0.47 points
Gold fees (CFD) i 0.25 points 0.5 points
Bitcoin fees (CFD) i USD 19.38
US stocks fees (CFD) i USD 0.02 USD 0.02
Fees on stocks
Stock fee type i Commission, Percentage 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
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 FP Markets and with Pepperstone in , and of how many instruments each one gives access to.
5 / 12

FP Markets and Pepperstone are close on available markets. Both FP Markets and Pepperstone offer CFDs on commodities, crypto, ETFs, forex, indices and stocks. FP Markets has a slight edge, as it gives access to 10,000 tradable symbols (against Pepperstone's 1,444).

Available markets
Section score FP Markets 75 Pepperstone 75
Total tradable symbols i 10,000 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, ETF, 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 FP Markets and Pepperstone make available to their clients in .
6 / 12

Pepperstone is better than FP Markets for platforms, as Pepperstone offers a proprietary platform, social trading and copy trading, which FP Markets does not. FP Markets and Pepperstone both offer cTrader and MetaTrader 5.

Platform
Section score FP Markets 80 -20 Pepperstone 100 Best
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 FP Markets and Pepperstone in , and of what each one lets you do from your phone.
7 / 12

Pepperstone is better than FP Markets for mobile trading, because Pepperstone offers a social trading app and a copy trading app, which FP Markets does not. FP Markets and Pepperstone both offer a proprietary mobile app and the cTrader app.

Mobile
Section score FP Markets 93 -7 Pepperstone 100 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 FP Markets and Pepperstone allow on their platforms in .
8 / 12

Pepperstone is better than FP Markets for trading features, given that Pepperstone executes orders faster, within 30 ms (against FP Markets' 40 ms). FP Markets and Pepperstone both offer negative balance protection and trailing stops.

Trading features
Section score FP Markets 87 -6 Pepperstone 93 Best
Trade execution
Broker type i NDD NDD
Average execution time i 40 ms 30 ms
Slippage occurrence i
Requotes occurrence i 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 First Prudential Markets Ltd (CySEC). At FP Markets' other companies: 500:1 (other accepted countries), 30:1 (Australia). 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 First Prudential Markets Ltd (CySEC). At FP Markets' other companies: 500:1 (other accepted countries), 20:1 (Australia). 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 First Prudential Markets Ltd (CySEC). At FP Markets' other companies: 200:1 (other accepted countries), 20:1 (Australia). 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 10:1About this value. This is the minor indices leverage at First Prudential Markets Ltd (CySEC). At FP Markets' other companies: 200:1 (other accepted countries), 10:1 (Australia). 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 20:1About this value. This is the gold leverage at First Prudential Markets Ltd (CySEC). At FP Markets' other companies: 500:1 (other accepted countries), 20:1 (Australia). 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 First Prudential Markets Ltd (CySEC). At FP Markets' other companies: 500:1 (other accepted countries), 10:1 (Australia). 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 First Prudential Markets Ltd (CySEC). At FP Markets' other companies: 20:1 (other accepted countries), 5:1 (Australia). 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 2:1About this value. This is the cryptocurrency leverage at First Prudential Markets Ltd (CySEC). At FP Markets' other companies: 5:1 (other accepted countries), 2:1 (Australia). 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 FP Markets and at Pepperstone in , and of who each one is meant for.
9 / 12

Pepperstone is better than FP Markets for account types, as Pepperstone offers a professional traders account, an Islamic account and a copy trading account, which FP Markets does not. Both FP Markets and Pepperstone offer a demo account and a corporate account.

Account types
Section score FP Markets 51 -24 Pepperstone 75 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 FP Markets and with Pepperstone in .
10 / 12

FP Markets and Pepperstone are equally good for account opening, as FP Markets supports 3 e-wallets (against Pepperstone's 1). On the other hand, Pepperstone does not require a minimum deposit (against FP Markets' 100 USD), and offers 4 account base currencies (against FP Markets' 2). FP Markets and Pepperstone both offer credit cards and debit cards.

Account opening
Section score FP Markets 72 Pepperstone 70 -2
Minimum deposit i USD 100About this value. This is the minimum deposit at First Prudential Markets Ltd (CySEC). At FP Markets' other companies: USD 100 (other accepted countries), USD 0 (Australia). USD 0
Minimum withdrawal i USD 0 USD 0
Wire transfers i
Credit cards i
Debit cards i
eWallets i PayPal, Neteller, SkrillAbout this value. This is the ewallets at First Prudential Markets Ltd (CySEC). It is different at FP Markets' companies in other accepted countries. 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 First Prudential Markets Ltd (CySEC). It is different at FP Markets' companies in other accepted countries and 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 1 business days up to 1 business days
Withdrawal waiting time i up to 1 business days up to 1 business days
Bonus program i

Customer care

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

FP Markets is better than Pepperstone for customer care, given that FP Markets offers customer support in 12 languages (against Pepperstone's 10), has a website in 10 languages (against Pepperstone's 9), and offers call-back requests, which Pepperstone does not. Both FP Markets and Pepperstone offer a dedicated account manager and phone support.

Customer care
Section score FP Markets 87 Best Pepperstone 73 -14
Number of languages supported i 12 10
Website languages i Arabic, German, English, French, Italian, Malay, Portuguese, Russian, Spanish, Vietnamese Arabic, English, Italian, Korean, Polish, Russian, Spanish, Vietnamese, Chinese
Website available in English i
Customer support languages i Arabic, German, English, French, Indonesian, Italian, Korean, Malay, Portuguese, Spanish, Thai, 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 FP Markets and Pepperstone provide to their clients in .
12 / 12

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

Learning
Section score FP 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
FP Markets
Open Account 74.56% of retail investor accounts lose money when trading CFDs with this provider.
Pepperstone
Open Account 72.9% of retail investor accounts lose money when trading CFDs with this provider.
Our verdict

FP Markets vs Pepperstone: which one should you choose?

FP Markets

CFD/FX Choose FP Markets if you want an online CFD broker with a wide choice of markets.

Open Account 74.56% of retail investor accounts lose money when trading CFDs with this provider.
Pepperstone

CFD/FX Choose Pepperstone if you want a forex broker with a proprietary trading platform and fast execution.

Open Account 72.9% of retail investor accounts lose money when trading CFDs with this provider.

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