Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs Axi, 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 Axi are both reputable online trading brokers offering a secure trading environment, but they differ in their regulatory standing. Founded in 2010 in Australia, Pepperstone holds a stronger position with three Tier-1 licenses and a Trust Score of 95, signifying a high level of trust. This broker is privately owned and not a bank, allowing it to remain closely aligned with trader needs while maintaining regulatory compliance across various regions.
On the other hand, Axi, established in 2007, also offers a reliable trading platform, but with slightly lesser regulatory endorsements. Axi holds two Tier-1 licenses and a Trust Score of 82, marking it as a trusted broker. Similarly, Axi is not publicly traded and operates independently of banking institutions. While both brokers provide secure trading experiences, those seeking higher assurance in regulatory backing might prefer Pepperstone.
| Feature |
Pepperstone
|
Axi
|
|---|---|---|
| Year Founded | 2010 | 2007 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
Pepperstone vs. Axi on commissions and fees: Pepperstone earns 4.5/5 stars and ranks #11 out of 63 brokers for the Commissions and Fees category, while Axi earns 4/5 stars and ranks #44 (ForexBrokers.com). This suggests Pepperstone generally provides more competitive pricing, especially if you trade frequently.
Pepperstone’s Razor account uses a commission-based model: on EUR/USD, the average spread was 0.10 pips and the commission equated to about 0.70 pips, for an all-in cost near 0.80 pips (July 2024), which is close to the industry average. Its Standard account is commission-free but averaged 1.1 pips on EUR/USD, making it costlier than Razor. High-volume traders can lower costs further via the Active Trader program: in the U.K. and EU, professional clients trading at least £20 million a month can get a 15% spread rebate, rising to 25% above £200 million; in Australia, professional clients need a minimum of 100 lots over three months to qualify for roughly a 10% discount per lot, with up to 30% off for more than 3,001 lots a month.
For Axi, average spread figures were not available, limiting a direct like-for-like comparison. Still, its 4/5 star score and #44 ranking imply its overall commissions-and-fees offering trails Pepperstone’s. If you trade often, Pepperstone’s Razor account paired with Active Trader rebates can deliver lower effective costs than its Standard account and, based on the category rankings, may edge Axi on pricing.
| Feature |
Pepperstone
|
Axi
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| 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 offers a wider range of markets than Axi, with 1,726 tradable instruments versus Axi’s 175. Both brokers support 65 forex pairs and make forex trading available as CFDs or spot (availability can vary by region). Each also supports copy trading and lets you trade cryptocurrency via derivatives, but neither allows buying actual crypto.
Neither broker offers direct share dealing on U.S. or international exchanges, so stock trading is limited to CFDs. For range of investments, ForexBrokers.com rates Pepperstone 4 stars (ranked 27th of 63) and Axi 3.5 stars (ranked 57th of 63). If you want more markets under one roof, Pepperstone has the edge; if you mainly trade core forex and CFD products, Axi still covers the basics.
| Feature |
Pepperstone
|
Axi
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 175 |
| Forex Pairs (Total) | 65 | 65 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| 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 vs Axi: Both brokers let you practice with a free demo account and trade on Windows and in a web browser. Each supports copy trading and MetaTrader 4 (MT4). Pepperstone also offers MetaTrader 5 (MT5) and has its own in-house platform, while Axi sticks to third-party platforms. For social tools, Pepperstone connects with DupliTrade, and Axi connects with ZuluTrade.
On charting and tools, both brokers let you place trades directly from charts and offer watch lists with 7 fields. Pepperstone lists 30 drawing tools versus Axi’s 15; indicator counts weren’t specified. According to ForexBrokers.com, Pepperstone earned 4/5 stars and placed 22nd for Trading Platforms & Tools, while Axi scored 3.5/5 stars and placed 64th. If you want more platform choice and added features like MT5 and DupliTrade, Pepperstone has the edge; if you prefer MT4 with ZuluTrade, Axi is a straightforward pick.
| Feature |
Pepperstone
|
Axi
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | Yes | No |
| ZuluTrade | No | Yes |
| 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 Axi both offer iPhone and Android mobile trading apps for forex and CFDs. Each app supports real-time watchlists and price alerts, so you can track markets on the go. The key difference is watchlist syncing: the Pepperstone app syncs symbols with your online account, so changes carry over between devices, while Axi does not.
For charting, both mobile apps include 30 technical indicators, multiple time frames (intraday through daily/weekly), and drawing tools such as trendlines. Pepperstone also auto-saves your chart drawings, whereas Axi’s app does not—useful to know if you switch devices often. According to ForexBrokers.com, Pepperstone’s mobile app is rated 4 stars and ranks #21 out of 63 brokers, while Axi’s app is rated 3.5 stars and ranks #60, pointing to a stronger overall mobile experience with Pepperstone.
| Feature |
Pepperstone
|
Axi
|
|---|---|---|
| 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 Axi: When it comes to market research, Pepperstone earns a higher score (4.5/5 stars, ranked 12th of 63 by ForexBrokers.com) compared with Axi (3/5 stars, ranked 56th). A key difference is daily market commentary—Pepperstone provides it, while Axi does not. Both brokers deliver forex news from top-tier sources like Bloomberg/Reuters and include an economic calendar for upcoming events, so you’ll still get timely headlines and data with either choice.
On research tools, both Pepperstone and Axi offer Autochartist and provide sentiment indicators that show the balance of long vs. short positions. Neither broker includes Trading Central. Pepperstone does not offer TipRanks or Acuity Trading tools; for Axi, availability of TipRanks and Acuity Trading isn’t specified here. If you want daily commentary and higher-rated research, Pepperstone stands out; if you mainly need quality news, calendars, and popular screening tools, both brokers cover the basics.
| Feature |
Pepperstone
|
Axi
|
|---|---|---|
| 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 | Yes |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Pepperstone and Axi both offer a wealth of educational resources for beginners looking to delve into forex and CFDs trading. Both brokers provide a minimum of 10 educational pieces such as articles, videos, and webinars, dedicated to these topics. They also host monthly online educational webinars to enhance learning. However, Pepperstone sets itself apart by offering a searchable archive of previously recorded webinars, providing learners with the opportunity to revisit past sessions at their convenience. Additionally, both brokers present an investor dictionary with definitions for at least 50 investing terms, supporting novices in understanding complex jargon.
When it comes to video content, both platforms cater to beginners with at least 10 educational videos tailored to newcomers. Nevertheless, Pepperstone excels in offering advanced educational videos that help experienced traders refine their skills, a feature that Axi lacks. This comprehensive educational approach earns Pepperstone a rating of 4.5 stars for education, ranking 17th out of 63 brokers according to ForexBrokers.com, compared to Axi's 3-star rating and 27th position. This makes Pepperstone a more suitable choice for those who prioritize extensive learning resources in their trading journey.
| Feature |
Pepperstone
|
Axi
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| 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 Axi. Pepperstone finished with an overall rank of #16, while Axi finished with an overall rank of #49.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
|
Axi
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 82 |
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Both Pepperstone and Axi do not offer the ability to buy actual, delivered cryptocurrencies, but they do provide options to trade cryptocurrency derivatives.
Pepperstone offers a more diverse range of deposit and withdrawal options compared to Axi, including ACH and SEPA transfers, PayPal, Skrill, Visa, Mastercard, and bank wires, while Axi lacks ACH, SEPA, and PayPal options but supports 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 | Axi | |
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| Trust Score | 95 | 82 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
| Broker Screenshots | Pepperstone | Axi | |
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| Regulation | Pepperstone | Axi | |
|---|---|---|---|
| Trust Score | 95 | 82 | |
| Year Founded | 2010 | 2007 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | Axi | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| 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 | Yes | |
| 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 | Axi | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Pepperstone | Axi | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 175 | |
| Forex Pairs (Total) | 65 | 65 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| 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 | Axi | |
|---|---|---|---|
| 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 | Axi | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| 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 | Axi | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | Yes |
| Trading Tools | Pepperstone | Axi | |
|---|---|---|---|
| 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 | Axi | |
|---|---|---|---|
| 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 | No |
| Research | Pepperstone | Axi | |
|---|---|---|---|
| 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 | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | Axi | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| 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 | Axi | |
|---|---|---|---|
| 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 | Axi | |
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| Trust Score | 95 | 82 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
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