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 | 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 vs Alpari: both brokers let you trade forex as CFDs or spot, and both support copy trading. Pepperstone stands out for sheer variety with 1,726 tradeable symbols and 65 forex pairs, compared with Alpari’s 105 symbols and 46 pairs. Neither broker offers U.S.-listed shares for direct purchase (non-CFD), and neither lets you buy actual crypto. Both provide access to crypto derivatives. One key difference: Alpari offers direct access to some international exchange-traded shares (non-CFD), while Pepperstone does not.
On ratings, Pepperstone earns 4 stars for Range of Investments and ranks 27th, while Alpari earns 3 stars and ranks 64th. In short, Pepperstone better suits traders who want more markets and forex pairs under one roof, whereas Alpari may appeal if you specifically want select international shares without using CFDs.
| 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 check the key boxes for trading platforms and tools. Each provides a free demo account, an in-house platform alongside MetaTrader 4 and MetaTrader 5, plus desktop (Windows) and web trading. Copy trading is available with both, and Pepperstone adds DupliTrade support (not offered at Alpari), while neither supports ZuluTrade. You can place trades directly from charts on both. For charting, Pepperstone lists 30 drawing tools versus 15 at Alpari, and watchlists on both can display up to 7 columns. The exact count of built-in technical indicators isn’t specified here.
Both brokers earn 4 stars for Trading Platforms and Tools. That said, out of 63 brokers, Pepperstone is ranked #22 while Alpari is #56, pointing to a modest edge for Pepperstone’s lineup and extras like DupliTrade and a wider set of drawing tools. If you want a straightforward setup with the same core MetaTrader choices and demo access, Alpari remains a viable alternative.
| 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 deliver mobile trading on iPhone and Android, complete with real-time quotes, customizable watchlists, and price alerts. Their charting tools are comparable: each app offers 30 technical indicators, trendline drawing, and multiple time frames ranging from intraday to weekly.
Key differences appear in workflow. Pepperstone syncs watchlist symbols between mobile and your online account, and it auto-saves chart drawings; Alpari does not support watchlist syncing or auto-saving drawings. While both apps earn 4 stars, ForexBrokers.com ranks Pepperstone higher (#21 of 63) than Alpari (#57 of 63). If you want seamless syncing and saved annotations across devices, Pepperstone is the stronger choice; for basic alerts and charting on iOS or Android, either app works.
| 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 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 | 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 | |
| Signal Centre (Acuity Trading) | 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
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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 |
| 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/Central Bank 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. 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 | ||
| 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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