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 and Alpari offer different approaches to commissions and fees, catering to a variety of traders' needs. Pepperstone stands out with its Razor account, which provides competitive pricing for high-volume traders through its Active Trader program. This account follows a commission-based structure and offers spreads as low as 0.10 pips for the EUR/USD, with an all-in cost including commissions reaching about 0.80 pips. In contrast, their Standard account is commission-free but features higher spreads, averaging 1.1 pips for the same currency pair.
In comparison, Alpari does not provide specific average spread data, making direct cost comparisons challenging. However, Pepperstone is highly rated with 4.5 stars for its commissions and fees, ranking #10 out of 63 brokers according to ForexBrokers.com. Alpari, while still a reputable option with a 4-star rating, ranks at a lower #41 in the same category.
Active traders in the UK, EU, and Australia benefit from Pepperstone's tiered rebate system, which rewards high trading volumes with spread discounts. For example, traders in the UK and EU can enjoy rebates of up to 25% on spreads, while Australian traders who qualify for Tier Three can achieve a 30% spread reduction. Alpari's offering in this area is not detailed, placing Pepperstone as a more transparent and favorable option for those focused on cost efficiency.
| Feature |
Pepperstone
|
Alpari
|
|---|---|---|
| Minimum Deposit | $0 | $20 |
| Average Spread EUR/USD - Standard | 1.00 | N/A |
| All-in Cost EUR/USD - Active | 0.70 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| 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 and Alpari are both prominent online brokers offering diverse trading options, particularly in forex trading as CFDs or spot contracts. Pepperstone provides an extensive selection with 1,726 tradeable symbols and 65 forex pairs, which surpasses Alpari's offerings of 105 tradeable symbols and 46 forex pairs. Both brokers have embraced modern trading trends by featuring copy trading and allowing clients to engage in cryptocurrency derivatives, albeit not in actual cryptocurrencies. However, when it comes to trading exchange-traded securities, neither broker provides access to U.S. exchanges. Notably, Alpari stands out by offering international stock trading, allowing investors to purchase shares like Vodafone on the London Stock Exchange, a feature Pepperstone lacks.
Regarding their investment range, Pepperstone is highly regarded, earning a 4-star rating and ranking 26 out of 63 brokers for its selection of investments. In contrast, Alpari secures a 3-star rating and ranks at the lower end, placing 63rd. For traders prioritizing a broad spectrum of forex pairs and diverse investment opportunities, Pepperstone presents a more expansive platform. Meanwhile, Alpari appeals to those interested in international securities, uniquely providing access to global markets outside the CFD domain.
| Feature |
Pepperstone
|
Alpari
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 105 |
| Forex Pairs (Total) | 65 | 46 |
| U.S. Stock Trading (Non CFD) | No | No |
| 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 Alpari both provide comprehensive trading platforms for their users, but they cater to different needs. Both brokers offer a free virtual demo account, allowing traders to practice without financial risk. They each deliver proprietary platforms developed in-house and support popular trading platforms like MetaTrader 4 and MetaTrader 5. For those who prefer flexibility, both Pepperstone and Alpari offer downloadable Windows-based platforms and web-based trading options. While both brokers offer copy trading features, Pepperstone stands out by providing DupliTrade, which Alpari does not support. However, neither broker offers ZuluTrade.
When it comes to technical tools, Pepperstone provides more drawing tools for charting, offering 30 options compared to Alpari's 15. Both platforms enable users to trade directly from charts, enhancing usability. For customizing watch lists, each broker provides seven columns for a thorough analysis of market elements. In terms of ratings, both received four out of five stars for their trading platforms and tools, but their rankings differ significantly. Pepperstone enjoys a relatively higher ranking of #22 among 63 brokers, while Alpari is positioned at #55, indicating a slight advantage for Pepperstone in the competitive landscape of trading platforms and tools.
| Feature |
Pepperstone
|
Alpari
|
|---|---|---|
| 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 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and Alpari both offer convenient mobile trading solutions for iPhone and Android users, facilitating access to stock and forex trading on the go. Traders can receive price alerts and view multiple time frames on charts with both apps. Charting capabilities are similar, with each broker offering 30 technical studies and the ability to draw trendlines. However, a noteworthy difference lies in watchlist syncing and the auto-saving of chart drawings. Pepperstone allows for seamless syncing of watchlist symbols between devices, so updates made on the mobile app or online account are instantly mirrored. In contrast, Alpari users need to manually update their watchlists across platforms, as this feature is not supported. Also, Pepperstone's mobile app saves chart drawings automatically, while Alpari's does not.
Both apps support creating watchlists with real-time quotes, ensuring traders stay informed with the latest market data. Each app is rated four stars, indicating user satisfaction with their performance and features. Nevertheless, rankings by ForexBrokers.com reflect a notable gap in evaluation, with Pepperstone placing 21st out of 63 and Alpari ranking significantly lower at 56th. This suggests that while both platforms offer valuable tools, Pepperstone's mobile app may provide a more integrated and seamless experience for traders looking for efficient watchlist management and chart functionality.
| Feature |
Pepperstone
|
Alpari
|
|---|---|---|
| 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 | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Pepperstone stands out in the market research category by offering a comprehensive suite of features that appeals to traders looking for insightful data and analysis. This broker provides daily market commentary and delivers forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones. Traders can benefit from the addition of technical analysis tools from Autochartist and have access to a sentiment-based trading tool, which displays a helpful ratio of long or short positions across various instruments. Moreover, Pepperstone includes an economic calendar to help keep traders informed of crucial global news events, contributing to its impressive research rating of 4.5 stars and a ranking of #12 out of 63 brokers by ForexBrokers.com.
Conversely, Alpari offers a more basic set of market research tools. Although traders with Alpari have access to forex news from top-tier sources and technical analysis tools from Autochartist, the platform lacks daily market commentary and sentiment-based trading tools, which can be valuable for traders seeking a more dynamic trading experience. Alpari does provide an economic calendar to assist with tracking international economic events but falls short with a research rating of 3 stars and a ranking of #57 out of 63 brokers by ForexBrokers.com in the Research category. This highlights a significant difference in the depth and breadth of research tools and resources when compared to Pepperstone.
| Feature |
Pepperstone
|
Alpari
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Pepperstone and Alpari both provide educational resources to help beginners get started with forex and CFDs. Both platforms offer a comprehensive library of over 10 educational pieces, including articles and videos. Additionally, they both provide more than 10 beginner videos specifically tailored to new traders. An area where Pepperstone stands out is its commitment to hosting live educational webinars each month. This interactive learning opportunity isn't available with Alpari. Pepperstone also offers a searchable archive of recorded webinars for those who want to revisit past sessions, a feature missing from Alpari's offerings.
For those looking to deepen their understanding, Pepperstone has advanced educational videos for experienced traders. In contrast, Alpari does not provide the same level of advanced content. Both companies offer a helpful investor dictionary with over 50 terms, ensuring newcomers have access to essential definitions. In terms of educational quality, Pepperstone holds a solid rating of 4.5 stars and ranks 17th among 63 brokers. Alpari, however, receives a 3-star rating and ranks 48th in this category, indicating a more limited educational offering compared to its competitor.
| Feature |
Pepperstone
|
Alpari
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| 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 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
|
Alpari
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 68 |
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Both Pepperstone and Alpari do not provide the option to purchase actual (delivered) cryptocurrency, but they do offer the ability to trade cryptocurrency derivatives, allowing investors to speculate on digital currencies without owning them.
Pepperstone provides a wider range of deposit and withdrawal options, including ACH, SEPA transfers, and PayPal, which are not available with Alpari, while both brokers support Skrill, Visa/Mastercard, and bank wire transactions.
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 |
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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) | No | No | |
| 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 | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Pepperstone | Alpari | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 105 | |
| Forex Pairs (Total) | 65 | 46 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| 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 | Alpari | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | N/A | |
| All-in Cost EUR/USD - Active | 0.70 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | Alpari | |
|---|---|---|---|
| Minimum Deposit | $0 | $20 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Pepperstone | Alpari | |
|---|---|---|---|
| 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 | Alpari | |
|---|---|---|---|
| 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 | 15 | |
| 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 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 | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Pepperstone | Alpari | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | Alpari | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Pepperstone | Alpari | |
|---|---|---|---|
| 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 |
| Overall | Pepperstone | Alpari | |
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| Trust Score | 95 | 68 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
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