Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs FP Markets, 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 FP Markets are two reputable online brokers, each established to provide trading services to investors worldwide. Founded later in 2010, Pepperstone has quickly built a strong reputation, holding three Tier-1 licenses that are highly trusted among traders. With a Trust Score of 95 from ForexBrokers.com, Pepperstone is considered highly trusted. Interestingly, despite not being publicly traded or operating as a bank, Pepperstone's regulatory credentials have set it apart as a reliable choice for trading enthusiasts.
FP Markets, which has been serving traders since 2005, offers competitive services in the online brokerage landscape. It holds two Tier-1 licenses and one Tier-2 license, showing its commitment to maintaining a trusted regulatory footprint. FP Markets earns a Trust Score of 89, categorizing it as a trusted broker. Like Pepperstone, it is not listed on a stock exchange and does not function as a bank. Despite these similarities, FP Markets' slightly lower trust score signifies a minor difference in perceived safety. Yet, both brokers remain highly attractive to traders, assuring dependable service provision.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Year Founded | 2010 | 2005 |
| 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 and FP Markets both offer attractive pricing structures for traders, but there are notable differences when it comes to their commissions and fees. Pepperstone, rated 4.5 out of 5 stars, provides excellent pricing through its Razor account, especially when paired with the Active Trader program for high-volume clients. The Razor account offers an average spread of 0.10 pips for the EUR/USD pair, with an all-in cost of 0.80 pips after including the commission. However, its Standard account, which is commission-free, features higher spreads averaging 1.1 pips. Active traders can benefit from rebates linked to monthly trading volume, enhancing the attractive pricing offered by Pepperstone. Overall, Pepperstone is ranked #10 out of 62 brokers by ForexBrokers.com for commissions and fees.
FP Markets, on the other hand, shines with its competitive commission-based ECN account offering, making it a cost-competitive choice for forex trading. Rated 5 stars, FP Markets is known for low spreads averaging 0.1 pips for its Raw ECN account, resulting in an all-in cost of 0.8 pips after accounting for commission. The Standard account, however, maintains higher spreads of around 1.1 pips. For Australian traders, the Iress ViewPoint and Iress Investor accounts offer different levels of affordability, with the Investor account being the low-cost option albeit with limited features. FP Markets earned its #6 ranking for commissions and fees from ForexBrokers.com, underlining its strong position in the market.
In summary, both brokers cater to different trading needs. Pepperstone presents a viable option for active traders who can maximize the benefits of its Active Trader program, whereas FP Markets stands out in offering low-cost structures for commission-based accounts such as the Raw ECN. Each broker has its strengths, with FP Markets slightly edging out Pepperstone in the rankings due to its highly competitive pricing and broader accolades.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Minimum Deposit | $0 | $100 AUD |
| Average Spread EUR/USD - Standard | 1.00 | 1.2 |
| All-in Cost EUR/USD - Active | 0.70 | 0.7 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| 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 and FP Markets both provide comprehensive options for forex trading, offering CFDs or spot contracts to their clients. Pepperstone gives access to 1,726 tradeable symbols, including 65 forex pairs, while FP Markets stands out with over 10,000 tradeable symbols, featuring 71 forex pairs. Neither broker provides options for trading actual exchange-traded securities on U.S. or international exchanges nor the buying of actual cryptocurrencies. However, both platforms offer the opportunity to invest in cryptocurrency derivatives.
Copy trading is another feature available with both Pepperstone and FP Markets, allowing investors to replicate the trades of seasoned traders. When evaluated for the range of investments, FP Markets received a higher rating of 4.5 stars compared to Pepperstone's 4 stars. According to ForexBrokers.com, FP Markets holds a better position, ranking 18th out of 62 brokers, while Pepperstone is ranked 26th. This suggests that those seeking a broader range of investment options might find FP Markets more appealing.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 10000 |
| Forex Pairs (Total) | 65 | 71 |
| 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 and FP Markets both provide traders with a comprehensive array of platforms and tools designed to enhance their trading experience. Both brokers offer simulated trading with free virtual demo accounts, making it easy for beginners to practice without financial risk. They also have proprietary platforms developed in-house alongside offering popular third-party platforms like MetaTrader 4 and MetaTrader 5 for diverse trading needs. For those interested in copy trading, both brokers provide this feature, although Pepperstone takes it a step further by also offering DupliTrade. Despite this, neither broker supports ZuluTrade.
When it comes to charting tools, Pepperstone stands out by offering 30 drawing tools, compared to FP Markets' 17, providing more options for technical analysis. Both brokers allow users to trade directly from a stock chart, facilitating a smoother trading process. Additionally, they offer a similar number of fields for watch lists (seven), which helps traders stay organized. In terms of ratings, both platforms score four stars for their trading platforms and tools, and they're closely ranked by ForexBrokers.com with Pepperstone at #22 and FP Markets at #23 out of 62 brokers. This makes both options valuable but with slight differences that might cater more to specific trading needs.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| 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 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and FP Markets both offer mobile trading solutions compatible with iPhone and Android devices, providing traders with convenient access to stock and forex markets. Both platforms include essential features like price alerts and the ability to create watchlists with real-time quotes. However, when it comes to watchlist synchronization between the mobile app and the online account, Pepperstone has the upper hand, ensuring changes made in either location are harmonized seamlessly, while FP Markets lacks this capability.
Charting tools are another key component in mobile trading. Pepperstone offers an extensive set of 30 technical studies, alongside essential features such as trendline drawing and multiple time frame views, all while auto-saving user drawings. FP Markets also supports trendline drawing and viewing multiple time frames, but relies on the default offerings of MetaTrader for technical studies. In terms of user ratings, both apps score a solid 4 out of 5 stars. However, FP Markets edges slightly ahead in rankings by ForexBrokers.com, placed at #18 compared to Pepperstone's #21 out of 62 brokers.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | MetaTrader (Default) |
| 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.
Pepperstone and FP Markets both provide daily market commentary and supply forex news from noteworthy sources such as Bloomberg and Reuters, ensuring traders stay informed with up-to-date information. Both brokers also offer tools from Autochartist, enhancing their users' experience with valuable technical and fundamental insights. However, FP Markets has an edge with additional support from Trading Central, providing more in-depth technical analysis tools like Technical Analytics, which Pepperstone does not offer. Both platforms include sentiment-based trading tools that reveal the percentage of long and short positions across different instruments and maintain comprehensive economic calendars highlighting global news events.
Neither broker provides market research from TipRanks or research tools from Acuity Trading like Signal Centre, keeping these resources out of their trading offerings. In terms of overall research capabilities, Pepperstone ranks higher with a 4.5-star rating compared to FP Markets' 4-star rating, as rated by ForexBrokers.com. Additionally, Pepperstone is placed at #12 out of 62 brokers for research, while FP Markets holds the #25 position, indicating a stronger reputation in research tools and services for Pepperstone users.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Pepperstone and FP Markets both provide ample educational resources tailored for beginner traders interested in forex and CFDs. Each broker offers a wealth of more than ten educational resources such as articles, videos, and archived webinars. For those looking to regularly enhance their trading skills, both brokers conduct online educational webinars at least once a month and maintain a searchable archive of these past sessions. Beginners can take advantage of over ten introductory videos provided by each, covering basic trading concepts, while advanced traders will find plenty of resources tailored to their needs.
Both Pepperstone and FP Markets feature investor dictionaries with over 50 terms to help new investors get acquainted with industry jargon. While Pepperstone is rated slightly higher with 4.5 stars compared to FP Markets' 4 stars for educational offerings, it ranks 17th out of 62 brokers, whereas FP Markets holds the 23rd position in the Education category on ForexBrokers.com. Despite the close nature of their offerings, Pepperstone may hold a slight edge for those seeking a more highly rated educational experience.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| 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 62 of the best forex brokers, our research and account testing finds that Pepperstone is better than FP Markets. Pepperstone finished with an overall rank of #16, while FP Markets finished with an overall rank of #19.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 89 |
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Both Pepperstone and FP Markets do not offer the ability to buy actual cryptocurrencies, but both do provide options for trading cryptocurrency derivatives.
Pepperstone and FP Markets both provide PayPal, Skrill, Visa, Mastercard, and bank wire options for depositing and withdrawing funds; however, only Pepperstone offers ACH or SEPA transfers, giving it a slight edge in payment versatility over FP Markets.
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 | FP Markets | |
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| Trust Score | 95 | 89 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | FP Markets Review |
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| Regulation | Pepperstone | FP Markets | |
|---|---|---|---|
| Trust Score | 95 | 89 | |
| Year Founded | 2010 | 2005 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| 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 | FP Markets | |
|---|---|---|---|
| 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) | 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 | Yes |
| Tier-2 Licenses (Trusted) | Pepperstone | FP Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Pepperstone | FP Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 10000 | |
| Forex Pairs (Total) | 65 | 71 | |
| 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 | FP Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.70 | 0.7 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | FP Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 AUD | |
| 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 | No |
| Trading Platforms | Pepperstone | FP Markets | |
|---|---|---|---|
| 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 | Yes | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | FP Markets | |
|---|---|---|---|
| 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 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | FP Markets | |
|---|---|---|---|
| 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 | MetaTrader (Default) | |
| 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 | FP Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | FP Markets | |
|---|---|---|---|
| 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 | FP Markets | |
|---|---|---|---|
| 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 | FP Markets Review |
| Overall | Pepperstone | FP Markets | |
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| Trust Score | 95 | 89 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | FP Markets Review |
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