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 |
When it comes to comparing the commissions and fees of Pepperstone and FP Markets, each broker offers distinct advantages. Pepperstone, an agency-execution broker, provides competitive pricing, particularly for high-volume traders through its Razor account and Active Trader program. The Razor account features a commission-based structure with an average spread of 0.10 pips for EUR/USD, and the total cost, including commission, is 0.80 pips. However, the Standard account, which is commission-free, has higher average spreads of 1.1 pips, making it less appealing for those aiming to minimize costs. Pepperstone holds a rating of 4.5 stars and is ranked #10 for commissions and fees by ForexBrokers.com.
FP Markets stands out for its competitive pricing, especially on its Raw ECN account, earning it Best in Class honors for Commissions and Fees in the 2024 Annual Awards. The Raw ECN account averages a spread of 0.1 pips, with the total cost reaching 0.8 pips after including the commission, slightly edging above industry competitors. While the Standard account has higher spreads, FP Markets still maintains its position as one of the most cost-effective brokers globally. FP Markets' alternative trading options include the Iress platform suite, where pricing is less accommodating unless one qualifies for the Premier account or spends a considerable amount in monthly commissions. FP Markets deserves its 5-star rating and ranks #6 in the Commissions and Fees category by ForexBrokers.com.
For active or high-balance traders, Pepperstone offers tier-based rebates on spreads that enhance its appeal for forex trading within the UK, EU, and Australia. Meanwhile, FP Markets provides Direct Market Access (DMA) for share CFD trading via its Iress suite, which may incur extra costs for advanced features unless larger balances or commissions are maintained. Choosing between Pepperstone and FP Markets largely depends on trading volume and platform preferences, as both brokers offer unique benefits in terms of cost efficiency and trading experience.
| 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 offer forex trading as either a CFD or a spot contract, providing investors with flexibility in their trading strategies. When it comes to the number of tradeable symbols, FP Markets significantly outshines Pepperstone, boasting a portfolio of 10,000 symbols compared to Pepperstone's 1,726. In terms of forex pairs, FP Markets also has a slight edge with 71 pairs available versus Pepperstone's 65. However, neither broker allows clients to purchase exchange-traded securities on U.S. or international exchanges.
For those interested in cryptocurrency, both platforms offer trading of cryptocurrency derivatives, though they do not support the purchase of actual cryptocurrencies. Additionally, both brokers enable copy trading, appealing to beginners and those looking to diversify their trading approach. Ranked at #26 and rated with 4 stars, Pepperstone offers a solid range of investment options. In contrast, FP Markets garners a higher rating of 4.5 stars and holds the #18 rank for its expansive range of investments.
| 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.
When it comes to choosing a trading platform, both Pepperstone and FP Markets offer a wide range of tools and features that can cater to varying levels of trading experience. Both brokers provide simulated trading with free virtual demo accounts, enabling new traders to practice without financial risk. They each have developed their in-house proprietary platforms and support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), enhancing traders' options. While both provide web-based and Windows desktop platforms, allowing seamless trading across devices, Pepperstone stands out by offering DupliTrade—a feature not available with FP Markets.
Pepperstone supports more drawing tools for charting with 30 compared to FP Markets' 17, offering greater flexibility for technical analysis. Both brokers allow trading directly from a stock chart and offer the same number of columns for watch lists. Their copy trading features match, although neither offers ZuluTrade. Ranked closely by ForexBrokers.com for trading platforms and tools, Pepperstone holds the 22nd position, marginally ahead of FP Markets at 23rd. Both brokers received a strong rating of four stars, reflecting their comprehensive offerings.
| 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 apps for iPhone and Android devices, facilitating convenient trading on the go. Users of these apps can receive real-time price alerts, create watchlists with live quotes, and draw trendlines on stock or forex charts across various time frames. Pepperstone stands apart with its ability to sync watchlist symbols between the mobile app and the client’s online account, ensuring seamless integration. While both platforms allow 30 technical studies, FP Markets utilizes the default studies provided by MetaTrader.
Chart drawings auto-save on both apps, providing a hassle-free user experience. Despite their similarities in functionality and a shared 4-star rating for mobile trading apps, FP Markets is slightly more favored, ranking #18 compared to Pepperstone's #21 out of 63 brokers according to ForexBrokers.com. Both apps provide a solid mobile trading experience, but the choice may come down to specific features like watchlist syncing, which Pepperstone offers and FP Markets does not.
| 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 excel in providing daily market commentary and forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones. Both brokers also enhance your trading strategies by offering technical analysis through tools from Autochartist. A sentiment-based trading tool is available from both, providing traders with insights into long and short positions for various instruments. Furthermore, each broker offers an economic calendar that helps traders keep track of important global news events.
While both brokers offer strong research tools, FP Markets has a slight edge with the inclusion of Trading Central's technical analytics, a feature not available with Pepperstone. Despite this, Pepperstone receives a higher research rating of 4.5 stars compared to FP Markets' 4 stars, and ranks #12 in research among 63 brokers as per ForexBrokers.com, whereas FP Markets is ranked #25. Neither broker provides research tools from TipRanks or Acuity Trading. Overall, both Pepperstone and FP Markets offer substantial resources for traders seeking comprehensive market research.
| 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.
When it comes to educational resources for beginners, both Pepperstone and FP Markets provide a rich collection targeted at helping traders learn about forex and CFDs. Pepperstone offers a comprehensive suite of educational materials, including a library with over 10 articles, videos, and archived webinars focused on forex and CFDs. They also host monthly educational webinars and provide access to a searchable archive of past sessions. Additionally, Pepperstone caters to beginners and advanced traders alike with a wide selection of educational videos. Their resources are complemented by an investor dictionary containing definitions for over 50 investing terms, making it easier for new traders to understand complex jargon. Rated 4.5 stars for education and ranked 17th by ForexBrokers.com out of 63 brokers, Pepperstone is a solid option for novice traders looking to enhance their knowledge.
FP Markets mirrors these educational offerings with a minimum of 10 articles, videos, and webinars covering forex and CFDs, alongside hosting monthly client webinars and maintaining an accessible archive of past sessions. They also provide beginner and advanced trading videos to support growth as traders progress in their experience. FP Markets includes an investor dictionary with over 50 terms, helping newcomers get accustomed to trading language swiftly. Although rated slightly lower than Pepperstone with 4 stars and ranked 23rd in the education category by ForexBrokers.com, FP Markets remains a strong choice for beginners looking to start their trading journey with a comprehensive educational foundation.
| 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 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 #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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