General Breakdown. This graph highlights the key scores from each Macro, uniquely calculated by us.
- FP Markets
Tier 1 Regulation
Tier 2 Regulation
Tier 3 Regulation
Deposit and Withdrawal
Costs and Fees
Forex Fixed Spreads
Forex Variable Spreads
Fees on Stocks
Fees on Indices
Fees on Cryptocurrencies
Special Trading Conditions
Available Trading Techniques
FP Markets vs Pepperstone: Which Broker to Choose?
Choosing the right broker can make a huge difference in your trading experience. In this comparison, we will take a closer look at two popular brokers, FP Markets and Pepperstone, to help you make an informed decision.
Both FP Markets and Pepperstone have an excellent security rating, with Pepperstone slightly edging FP Markets out with a score of 94 compared to FP Markets’ score of 93. Both brokers are regulated by multiple authorities, including ASIC and CySEC. However, Pepperstone has additional licences from FCA, DFSA, SCB, and CMA, making it more heavily regulated.
FP Markets and Pepperstone offer demo accounts to help traders get familiar with their platform. FP Markets’ demo account lasts for 30 days and comes with a virtual fund of $100,000, which can be replenished by contacting customer support. Pepperstone’s demo account lasts for 30 days for MT4 and MT5 accounts, and it’s unlimited for cTrader accounts. The virtual fund is $50,000, and it can also be restored by contacting customer support.
FP Markets requires a minimum deposit of $100 for Standard and Raw accounts, $1,000 for Iress accounts, while Pepperstone doesn’t have a minimum deposit in place. However, Pepperstone suggests a minimum deposit of $200. Both brokers support wire transfers, credit/debit cards, e-wallets, and several local payment methods. FP Markets has a wider range of account types to choose from, including Standard Account, Raw Account, Iress Account, Islamic Account, and professional accounts for advanced traders, while Pepperstone has Standard account, Razor account, Spread Betting account, MAM/PAMM account, and Professional account.
FP Markets doesn’t offer copy-social trading, while Pepperstone provides traders with third-party platforms like Duplitrade and Myfxbook, which allows them to engage in copy trading through their Pepperstone account.
Both brokers offer CFD trading for forex, commodities, indices, and crypto assets, while FP Markets has a slight edge with 18 commodities, 11 indices, and over 10,000 stocks. Pepperstone, on the other hand, has a wider selection of indices, with 14 indices, and 60+ stocks. Additionally, FP Markets offers DMA (Direct Market Access) trading for shares, making it more versatile.
Both brokers offer variable spreads, with FP Markets spreads starting from 0 pips on forex, lower than the market average. FP Markets charges a commission of $6 per lot traded on Raw accounts, while Pepperstone’s commissions can go up to $7 per lot traded. FP Markets also has a minimum commission of $10 on stocks, while Pepperstone charges variable spreads on stocks. These low spreads and commissions make Pepperstone a good option for scalping, while FP Markets’ DMA trading makes it more suitable for long-term trading.
Both FP Markets and Pepperstone offer MetaTrader 4 and MetaTrader 5 platforms, available via webtrader, desktop, and mobile. In addition, FP Markets also offers the Iress platform, while Pepperstone has cTrader. All platforms offered by both brokers allow traders to engage in algo trading, and they also offer VPS services.
FP Markets and Pepperstone both provide a good range of educational material, including video tutorials, webinars, eBooks, and market analysis. However, FP Markets has more resources catering to both beginner and advanced traders. Both brokers offer customer support through email, telephone, and live chat, and they support multiple languages. Pepperstone has won the “Best Customer Service in Europe” award in 2019.
Overall, both FP Markets and Pepperstone are reputable brokers with similar offerings, such as variable spreads and multiple trading platforms. However, there are some key differences to consider. FP Markets has a wider range of account types, a larger selection of markets, and DMA trading for shares. Pepperstone has more licences, wider range of base currencies, and better social-copy trading options. In terms of education, FP Markets offers more resources for both beginner and advanced traders, while Pepperstone’s educational material is mostly geared towards beginners.