Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs Admirals, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Pepperstone, founded in 2010, and Admirals, established in 2001, are two well-regarded online brokers. Both firms hold a significant number of regulatory licenses, although neither is publicly traded nor operates as a bank. Pepperstone holds three Tier-1 licenses, while Admirals has an edge with four, offering a slight advantage in regulatory standing. Additionally, both brokers maintain a healthy number of Tier-2 licenses, with Pepperstone holding two and Admirals holding three, reinforcing their status as reliable choices for traders.
When it comes to trust ratings by ForexBrokers.com, Pepperstone scores an impressive 95 out of 99, indicating a very high level of trust. Admirals closely follows with a trust score of 93, also marking it as a highly trusted broker. These trust scores reflect their strong regulatory compliance and reputation in the industry, providing traders with confidence in their trading platforms.
| Feature |
Pepperstone
|
Admirals
|
|---|---|---|
| Year Founded | 2010 | 2001 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 4 |
| Tier-2 Licenses | 2 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
Pepperstone and Admirals both deliver competitive commissions and fees, but they cater to slightly different trading needs. Pepperstone’s Razor account uses a commission-plus-spread model and, as of July 2024, listed an average EUR/USD spread of 0.10 pips; once you factor in the commission-equivalent of 0.70 pips, the all-in cost comes to about 0.80 pips. Its Standard account is commission-free but wider at about 1.1 pips on EUR/USD, making Razor the better value. Admirals posts typical EUR/USD spreads of about 0.8 pips on its Trade account, with similar pricing on its Zero account, putting it in the same ballpark as Pepperstone’s Razor all-in cost.
High-volume and professional clients may find Pepperstone even cheaper thanks to its Active Trader program, which rebates part of the spread based on volume. In the U.K. and EU, rebates start around 15% per lot for at least £20 million in monthly forex volume and can reach 25% above £200 million. In Australia, the program starts at a 10% discount per standard lot for 100 lots over three months and can scale to a 30% reduction above 3001 lots monthly. By contrast, Admirals offers straightforward, low spreads out of the box, which can be appealing if you prefer simple pricing without chasing tiered rebates.
Ratings and rankings: Pepperstone earns 4.5 out of 5 stars for commissions and fees and ranks #11 out of 63 brokers with ForexBrokers.com. Admirals also earns 4.5 out of 5 stars and ranks #18 out of 63. In short, Pepperstone can edge out Admirals for very active or professional traders using rebates, while Admirals’ typical 0.8-pip pricing is a strong, simple option for many everyday traders.
| Feature |
Pepperstone
|
Admirals
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.00 | 0.8 |
| All-in Cost EUR/USD - Active | 0.70 | 0.8 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Pepperstone vs Admirals: both brokers support forex trading via CFDs/spot, offer copy trading, and let you trade cryptocurrency derivatives (but not actual coins). Admirals provides a wider product list with 8,702 tradeable symbols and 82 currency pairs, compared with Pepperstone’s 1,726 symbols and 65 pairs.
A key difference is stock access. Pepperstone does not offer exchange-traded shares on U.S. or international exchanges, while Admirals lets you buy listed stocks in both markets (for example, Apple on NASDAQ and Vodafone in London). For Range of Investments, ForexBrokers.com rates Pepperstone 4.0 stars (ranked #27 of 63) and Admirals 4.5 stars (ranked #20 of 63).
| Feature |
Pepperstone
|
Admirals
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 8702 |
| Forex Pairs (Total) | 65 | 82 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
Pepperstone and Admirals both offer traders an extensive range of tools and platforms designed to enhance the trading experience. Both brokers support simulated paper trading with free virtual demo accounts, making it easy for beginners to practice without financial risk. Proprietary platforms are available from both firms, along with platforms like MetaTrader 4 and MetaTrader 5, ensuring traders have access to familiar and powerful trading environments. Additionally, both Pepperstone and Admirals provide web-based trading platforms and Windows desktop downloads, accommodating different trading preferences. Admirals has a slight edge in technical tools, offering 106 drawing tools, compared to Pepperstone's 30. However, both platforms enable seamless trading directly from stock charts.
Copy trading is available through both brokers, though Pepperstone stands out by offering DupliTrade, which Admirals does not. When it comes to organized trading data, both Pepperstone and Admirals provide users with the ability to create watch lists featuring seven columns. Both brokers share the same star rating of 4 out of 5 for trading platforms and tools, but Admirals has a slightly higher category ranking, holding the 19th position out of 63 brokers, while Pepperstone ranks at 22. Overall, these brokers offer competitive features for traders of all skill levels, with Admirals offering a more extensive selection of drawing tools, but Pepperstone presenting exclusive features like DupliTrade.
| Feature |
Pepperstone
|
Admirals
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 30 |
| Charting - Drawing Tools (Total) | 30 | 106 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Pepperstone and Admirals, both platforms offer apps for iPhone and Android devices, ensuring accessibility for most users. Each app provides essential features such as stock and forex price alerts, real-time watchlists, and the ability to draw trendlines on charts. Both apps support viewing multiple time frames and auto-saving chart drawings, enhancing trading efficiency. However, Pepperstone takes a slight edge with the ability to sync watchlist symbols across its mobile app and online account, a feature Admirals lacks.
Both apps include 30 technical studies for charting, giving traders comprehensive analysis tools. The overall user ratings for both apps are four out of five stars, with Pepperstone ranked 21st and Admirals 23rd by ForexBrokers.com in their Mobile Trading Apps category. While both apps offer similar features, traders may prefer Pepperstone for its watchlist syncing capability, positioning it as a slightly more integrated choice for mobile trading.
| Feature |
Pepperstone
|
Admirals
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both Pepperstone and Admirals provide daily market commentary and access to forex news from top-tier sources, ensuring traders stay well-informed. Pepperstone shines with its offering from Autochartist, a leading name in technical and fundamental analysis tools; however, it misses out on providing resources from Trading Central. In contrast, Admirals compensates by incorporating Trading Central tools but does not feature Autochartist, allowing both platforms to cater to different analytical preferences.
For traders interested in sentiment-based trading tools, both Pepperstone and Admirals offer insights into long and short positions across various instruments. Admirals also extends its research capabilities with services from TipRanks and Acuity Trading, enriching the trader's toolset, whereas Pepperstone does not. Both brokers feature an economic calendar to track global events. In terms of research quality, Pepperstone holds a slight edge with a 4.5-star rating, ranking 12th out of 63 brokers, while Admirals follows closely with 4 stars, securing the 15th position according to ForexBrokers.com.
| Feature |
Pepperstone
|
Admirals
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | Yes |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners at Pepperstone and Admirals, both brokers shine brightly. Pepperstone provides an impressive range of educational materials, including over ten articles, videos, and archived webinars focused on forex and CFDs. They also offer numerous beginner-focused educational videos and a monthly webinar schedule, ensuring a continuous learning path. Admirals matches Pepperstone with a wealth of educational content, offering similar resources and regular webinars. Admirals also provides a collection of beginner-oriented videos to aid learning. Both brokers offer a searchable archive of past webinars, making it easy for users to access valuable content anytime.
Pepperstone and Admirals are committed to educating their clients beyond the basics. Each provides at least ten advanced educational videos for those ready to elevate their skills. Furthermore, they both offer comprehensive investor dictionaries, helping learners decode over 50 investing terms. In terms of ratings, Pepperstone scores slightly higher with 4.5 stars in education compared to Admirals' 4 stars. Interestingly, ForexBrokers.com ranks Admirals slightly better at #12 for education out of 63 brokers, while Pepperstone lands at #17. Despite these differences, both broker platforms stand out as excellent choices for traders eager to learn and grow.
| Feature |
Pepperstone
|
Admirals
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Pepperstone is better than Admirals. Pepperstone finished with an overall rank of #16, while Admirals finished with an overall rank of #18.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
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Admirals
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 93 |
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Both Pepperstone and Admirals do not offer the ability to buy actual delivered cryptocurrency, but both provide the option to trade cryptocurrency derivatives.
Both online brokers, Pepperstone and Admirals, provide a wide array of options for depositing and withdrawing account funds, including ACH or SEPA transfers, PayPal, Skrill, Visa or Mastercard, and bank wires, ensuring flexibility and convenience for their users.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | Pepperstone | Admirals | |
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| Trust Score | 95 | 93 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | Admirals Review |
| Broker Screenshots | Pepperstone | Admirals | |
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| Regulation | Pepperstone | Admirals | |
|---|---|---|---|
| Trust Score | 95 | 93 | |
| Year Founded | 2010 | 2001 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 4 | |
| Tier-2 Licenses | 2 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | Admirals | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Pepperstone | Admirals | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | Yes | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | Yes |
| Investments | Pepperstone | Admirals | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 8702 | |
| Forex Pairs (Total) | 65 | 82 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | Pepperstone | Admirals | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | 0.8 | |
| All-in Cost EUR/USD - Active | 0.70 | 0.8 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | Admirals | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | Pepperstone | Admirals | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | Admirals | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Drawing Tools (Total) | 30 | 106 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | Admirals | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Pepperstone | Admirals | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | Admirals | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Pepperstone | Admirals | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | Pepperstone Review | Admirals Review |
| Overall | Pepperstone | Admirals | |
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| Trust Score | 95 | 93 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | Admirals Review |
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