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 (founded 2010) and FP Markets (founded 2005) are online brokers that are not publicly traded and are not banks. Based on ForexBrokers.com Trust Score out of 99, Pepperstone scores 94 and FP Markets scores 90—both land in the highly trusted range (90–99).
In terms of regulation, Pepperstone holds 3 Tier-1 licenses (highly trusted by ForexBrokers.com) and 2 Tier-2 licenses (trusted). FP Markets holds 2 Tier-1 and 1 Tier-2 licenses. Both brokers are seen as safe choices, with Pepperstone edging ahead on the number of top-tier licenses and its slightly higher Trust Score.
| 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 | 2 |
Pepperstone and FP Markets both deliver low costs on their commission-based accounts, with an all-in EUR/USD cost around 0.8 pips when you factor in spreads and commissions. Pepperstone earns 5/5 stars and ranks #6 of 63 for Commissions and Fees, while FP Markets earns 4.5/5 stars and ranks #11 of 63. Their spread-only Standard accounts are pricier, averaging about 1.1 pips on EUR/USD, making the commission-based options the better value for frequent traders.
Pepperstone’s Razor account (on TradingView, MetaTrader, or cTrader) lists an average EUR/USD spread of 0.10 pips as of July 2024; adding roughly 0.70 pips in commission brings the all-in cost to about 0.80 pips. The Standard account is commission-free but averages 1.1 pips, so it’s costlier on a like-for-like basis. High-volume traders can lower costs further with Pepperstone’s Active Trader program: in the U.K. and EU, Professional clients trading at least £20 million per month may receive a 15% spread rebate per lot (up to 25% above £200 million). In Australia, Professional clients need at least 100 lots over three months to enter Tier One (10% discount per standard lot), with Tier Three delivering a 30% reduction for more than 3001 lots monthly.
FP Markets shines with its Raw ECN account on MetaTrader or cTrader, where average spreads were about 0.1 pips as of October 2023 and roughly 0.8 pips all-in after a $6 per round-turn commission per standard lot for forex. Its Standard account is spread-only and averages about 1.1 pips, so active traders typically get better value with the Raw ECN option. FP Markets also offers Iress with DMA pricing for share CFDs, but the ViewPoint accounts can add platform and data fees unless you meet monthly commission minimums or qualify for the Premier tier; the lower-cost Iress Investor plan waives monthly fees but limits features such as default streaming data.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Minimum Deposit | $0 | $100 AUD |
| Average spread (EUR/USD) - Standard account | 1.1 | 1.3 |
| All-in Cost EUR/USD - Active | 0.8 | 0.9 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Pepperstone and FP Markets both let you trade forex as CFDs and via spot contracts, and each supports copy trading. FP Markets offers a larger range overall, with 10,000 tradeable symbols and 71 forex pairs, compared with Pepperstone’s 1,726 symbols and 65 pairs. For crypto, both brokers provide cryptocurrency CFDs but do not offer actual delivered coins. Neither broker lets you buy exchange-traded shares directly on U.S. or international exchanges (non-CFD stock dealing is not available).
For the range of investments, FP Markets is rated 4.5 stars and ranks #16 out of 63, while Pepperstone is rated 4 stars and ranks #23 out of 63. If having the widest selection matters most, FP Markets has the edge; if you mainly want forex access, crypto CFDs, and copy trading, both brokers cover those needs.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 10000 |
| Forex Pairs (Total) | 65 | 71 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| 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 FP Markets both check the key boxes for platform choice and ease of use. Each broker offers a free demo account for paper trading, a proprietary (in‑house) platform, and both Windows desktop and web-based platforms. You’ll also find copy trading plus the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5). With either broker, you can trade directly from charts, making order entry faster and more intuitive.
When it comes to trading platforms and tools, both brokers earn 4 out of 5 stars. In ForexBrokers.com’s comparison of 63 brokers, Pepperstone ranks 21st and FP Markets ranks 22nd, reflecting very similar strengths for traders who want flexible platform choices and modern trading tools.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| 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 FP Markets both deliver full-featured mobile trading apps for iPhone and Android. Each app supports stock and forex price alerts, trendline drawing on charts, and auto-saving of your chart annotations. A key difference is watchlist syncing: Pepperstone syncs symbols between the mobile app and your online account, while FP Markets does not, which can matter if you switch devices often.
For charting, Pepperstone lists 30 technical indicators in its mobile app, whereas FP Markets relies on the standard indicator set that comes with MetaTrader. Both brands earn 4 stars for Mobile Trading Apps, with Pepperstone ranked 19th out of 63 brokers and FP Markets ranked 20th by ForexBrokers.com. If you value built-in indicators and synced watchlists, Pepperstone has the edge; if you’re comfortable with MetaTrader’s default tools, FP Markets remains a solid choice.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | MetaTrader (Default) |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Pepperstone and FP Markets both deliver daily market commentary and forex news from leading sources like Bloomberg, Reuters, and Dow Jones. Each broker includes Autochartist for trade ideas, a sentiment tool showing long vs. short positioning, and an easy-to-use economic calendar. Neither adds TipRanks or Acuity Trading. One key difference: FP Markets also offers Trading Central, while Pepperstone does not.
According to ForexBrokers.com, Pepperstone earns 4.5 out of 5 stars for Research and ranks #12 of 63 brokers, while FP Markets scores 4.0 stars and ranks #22. Pick Pepperstone if you want the higher overall research rating; choose FP Markets if Trading Central is a must-have alongside daily commentary, quality news, and core tools.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Pepperstone vs FP Markets for beginner education: both brokers offer forex and CFD education with well over the 10-piece minimum, including at least 10 beginner videos and at least 10 advanced videos. Each also hosts client webinars online at least once per month, giving new traders a steady mix of on-demand lessons and live sessions to learn the basics and progress to more complex topics.
For quality, Pepperstone holds a slight edge for beginners: it’s rated 4.5/5 stars and ranks #15 out of 63 brokers for Education on ForexBrokers.com, while FP Markets is rated 4/5 stars and ranks #22. If you want the stronger overall education score, Pepperstone is the pick; if you’re comparing only for access to videos and monthly webinars, both Pepperstone and FP Markets deliver solid, beginner-friendly learning paths.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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 FP Markets. Pepperstone finished with an overall rank of #17, 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
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FP Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 90 |
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Pepperstone vs FP Markets: neither broker allows you to buy actual (delivered) cryptocurrency, but both offer cryptocurrency CFD trading.
Pepperstone vs FP Markets: Pepperstone supports ACH/SEPA, PayPal, and bank wire transfers but not Skrill, whereas FP Markets supports PayPal, Skrill, and bank wire transfers but not ACH/SEPA; Visa/Mastercard availability for either broker was 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 | FP Markets | |
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| Trust Score | 94 | 90 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | FP Markets Review |
| Broker Screenshots | Pepperstone | FP Markets | |
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| Regulation | Pepperstone | FP Markets | |
|---|---|---|---|
| Trust Score | 94 | 90 | |
| 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 | 2 |
| 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 (FSA 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 | Yes |
| Tier-2 Licenses (Trusted) | Pepperstone | FP Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Pepperstone | FP Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 10000 | |
| Forex Pairs (Total) | 65 | 71 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| 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 | FP Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.1 | 1.3 | |
| All-in Cost EUR/USD - Active | 0.8 | 0.9 | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | FP Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 AUD | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | Pepperstone | FP Markets | |
|---|---|---|---|
| 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 | Yes |
| Trading Tools | Pepperstone | FP Markets | |
|---|---|---|---|
| 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 | FP Markets | |
|---|---|---|---|
| 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 | MetaTrader (Default) | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Pepperstone | FP Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | No | Yes | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | FP Markets | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Pepperstone | FP Markets | |
|---|---|---|---|
| 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 | FP Markets Review |
| Overall | Pepperstone | FP Markets | |
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| Trust Score | 94 | 90 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | FP Markets Review |
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