Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs Alpari, 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 and Alpari both serve as notable names in the online brokerage world, but they stand apart in terms of trust and regulation. Founded in 2010, Pepperstone boasts a strong reputation with a ForexBrokers.com Trust Score of 95, making it a highly trusted platform. It holds three top-tier licenses and two more trusted licenses, reflecting its commitment to providing secure and reliable service to its users. Although it is not publicly traded nor a bank, its regulatory standing places it among the industry's respected entities.
Founded earlier in 1998, Alpari, in contrast, presents a different trust profile with its ForexBrokers.com Trust Score of 68, which categorizes it as high risk. Unlike Pepperstone, Alpari does not possess any top-tier or additional trusted licenses, which may be a concern for those prioritizing regulatory assurance. Alpari, like Pepperstone, is neither publicly traded nor a bank, indicating a similar business structure yet differing significantly in their respective trust and regulatory environments.
| Feature |
Pepperstone
|
Alpari
|
|---|---|---|
| Year Founded | 2010 | 1998 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 0 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
Pepperstone vs Alpari—commissions and fees at a glance: Pepperstone earns 4.5/5 stars and ranks #11 of 63 brokers for Commissions and Fees (ForexBrokers.com), while Alpari scores 4/5 stars and ranks #42 of 63. That higher rating and rank suggest Pepperstone is generally the stronger pick on pricing, especially if you trade frequently.
Pepperstone’s Razor account uses commission-based pricing across TradingView, MetaTrader (MT4/MT5), and cTrader. As of July 2024, the Razor account’s average EUR/USD spread is 0.10 pips; once you include the commission-equivalent of 0.70 pips, the all-in cost is about 0.80 pips—around the industry average. The Standard account is commission-free with an average EUR/USD spread of 1.1 pips (July 2024), making it pricier than Razor. High-volume traders can also reduce costs via Pepperstone’s Active Trader program, which provides spread rebates by tier.
Alpari does not provide average spread data, so direct like-for-like pricing comparisons are limited. However, its 4/5 star score and #42 rank for Commissions and Fees trail Pepperstone’s results. If you trade large volumes, Pepperstone’s rebates can further cut costs: in the UK and EU, professional clients trading at least £20 million per month can receive a 15% per-lot spread rebate, rising to 25% above £200 million; in Australia, professional clients qualify from 100 lots over three months (Tier One gives a 10% discount per standard lot, while Tier Three—over 3001 lots monthly—cuts spreads by 30%).
| Feature |
Pepperstone
|
Alpari
|
|---|---|---|
| Minimum Deposit | $0 | $20 |
| Average spread (EUR/USD) - Standard account | 1.00 | N/A |
| All-in Cost EUR/USD - Active | 0.70 | N/A |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | No | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Pepperstone offers a wider range of markets than Alpari, with 1,726 tradable symbols versus Alpari’s 105, and 65 forex pairs versus 46. Both support forex trading as CFDs or spot contracts and offer crypto trading via CFDs (neither lets you buy actual cryptocurrency). Copy trading is available at both brokers. For real, exchange-listed shares, Pepperstone does not offer U.S. or international stocks, while Alpari does not offer U.S.-listed shares but does provide access to certain international exchanges.
For Range of Investments, Pepperstone is rated 4 out of 5 stars and ranks 27th out of 63 brokers at ForexBrokers.com. Alpari is rated 3 out of 5 stars and is ranked 64th out of 63. If you want more symbols and currency pairs, Pepperstone has the edge; if you need access to select international exchange-listed shares, Alpari may fit better.
| Feature |
Pepperstone
|
Alpari
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 105 |
| Forex Pairs (Total) | 65 | 46 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | Yes |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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 Alpari both check the key boxes for trading platforms and tools. Each broker provides a free demo (paper trading) account, a proprietary (in-house) platform, a Windows desktop download, and a web-based platform. You also get copy trading plus support for MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Trading straight from charts is available at both. The exact counts for built-in technical indicators and watch list fields aren’t specified here, but the core platform options are similar.
In independent testing by ForexBrokers.com, both earned 4 stars for Trading Platforms and Tools, though Pepperstone ranks higher (#22 of 63) than Alpari (#56 of 63). If you want a broker whose platform lineup and tools placed higher in that comparison, Pepperstone edges ahead; if you simply need the essentials—demo access, web and desktop trading, MT4/MT5, copy trading, and chart trading—either broker can fit the bill.
| Feature |
Pepperstone
|
Alpari
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 15 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and Alpari both offer iPhone and Android apps with on-the-go forex and CFD trading. Each supports price alerts, trendline drawing, and 30 technical studies for charting. Both earned 4 out of 5 stars for mobile trading. However, ForexBrokers.com ranks Pepperstone higher (#21 of 63) than Alpari (#57 of 63). A key difference is account syncing: Pepperstone syncs watchlists between mobile and the web platform, while Alpari does not. Pepperstone also auto-saves chart drawings, whereas Alpari requires you to redraw them later.
If you want a mobile app that keeps your watchlists and annotations consistent across devices, Pepperstone is the more convenient pick. Alpari’s app covers the essentials—alerts, indicators, and trendlines—but you’ll manage watchlists separately and charts won’t save your drawings automatically, which may slow you down if you switch between phone and desktop.
| Feature |
Pepperstone
|
Alpari
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
Pepperstone vs Alpari: For market research, Pepperstone pulls ahead thanks to daily market commentary and a built-in sentiment tool showing long/short positioning—features Alpari does not provide. Both brokers deliver forex news from top-tier sources and include Autochartist plus an economic calendar, while neither offers Trading Central. Pepperstone does not provide TipRanks or Acuity Trading tools; Alpari’s access to TipRanks or Acuity Trading is not specified. Overall, Pepperstone earns 4.5/5 stars for Research (ranked 12th of 63 by ForexBrokers.com), versus Alpari’s 3/5 stars (58th of 63).
If you want frequent insights and sentiment data to guide trade ideas, Pepperstone is the stronger fit. If you mainly need core news, Autochartist scans, and a market calendar, Alpari covers the basics. If TipRanks or Acuity Trading matters to you, check with Alpari for current availability.
| Feature |
Pepperstone
|
Alpari
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | No |
| Client sentiment data | Yes | No |
| TipRanks | No | |
| Acuity Trading | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Pepperstone and Alpari both provide forex and CFD education with at least 10 learning pieces, and each has a beginner-friendly video library. Pepperstone goes further by hosting client webinars at least once a month and offering 10-plus advanced trading videos, which helps beginners progress as they gain experience. Alpari delivers 10-plus beginner videos but does not run monthly educational webinars and lacks the same depth of advanced video content, making it better suited to learners who only need the basics.
In independent ratings, Pepperstone earns 4.5 out of 5 stars for Education and ranks #17 out of 63 brokers on ForexBrokers.com, reflecting its stronger all-around learning path. Alpari holds 3 out of 5 stars and ranks #48 out of 63. If you want ongoing webinars and a clear route from beginner to advanced topics, Pepperstone is the more complete choice. If you primarily want starter videos without live classes, Alpari can cover the essentials.
| Feature |
Pepperstone
|
Alpari
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
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 Alpari. Pepperstone finished with an overall rank of #16, while Alpari finished with an overall rank of #58.
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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Alpari
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|---|---|---|
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| Trust Score | 95 | 68 |
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Comparing Pepperstone vs Alpari for crypto, neither broker allows buying actual (delivered) cryptocurrencies, but both offer cryptocurrency CFD trading.
Pepperstone vs Alpari: For deposits and withdrawals, Pepperstone supports ACH/SEPA transfers, PayPal, and bank wire transfers and does not support Skrill, whereas Alpari does not support ACH/SEPA and its availability of PayPal, Skrill, Visa/Mastercard, and bank wires is not specified.
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 | Alpari | |
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| Trust Score | 95 | 68 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
| Broker Screenshots | Pepperstone | Alpari | |
|---|---|---|---|
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| Regulation | Pepperstone | Alpari | |
|---|---|---|---|
| Trust Score | 95 | 68 | |
| Year Founded | 2010 | 1998 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 3 | 0 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | Alpari | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| 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 | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | Pepperstone | Alpari | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Pepperstone | Alpari | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 105 | |
| Forex Pairs (Total) | 65 | 46 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | Yes | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 | Alpari | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.00 | N/A | |
| All-in Cost EUR/USD - Active | 0.70 | N/A | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | Alpari | |
|---|---|---|---|
| Minimum Deposit | $0 | $20 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | No | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | Yes | No |
| Trading Platforms | Pepperstone | Alpari | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No |
| Trading Tools | Pepperstone | Alpari | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | Alpari | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Pepperstone | Alpari | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | No | No | |
| TipRanks | No | ||
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | Alpari | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | Pepperstone | Alpari | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Pepperstone Review |
| Overall | Pepperstone | Alpari | |
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| Trust Score | 95 | 68 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
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