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 offer low-cost trading, but their pricing works best in different ways. Pepperstone is rated 5 stars and ranks #5 out of 36 brokers for Commissions and Fees, with its best value found on the Razor account and Active Trader program. The Razor account uses commission-based pricing and, as of July 2024, showed an average EUR/USD spread of 0.10 pips; after adding commission, the all-in cost was about 0.80 pips. Its Standard account is commission-free but less competitive, with a higher average EUR/USD spread of 1.1 pips.
FP Markets is rated 4.5 stars and ranks #11 out of 36 brokers for Commissions and Fees. It is especially known for its low-cost Raw ECN pricing on MetaTrader and cTrader, which makes it a strong choice for cost-conscious traders. As of October 2023, the Raw ECN account averaged 0.1 pips on EUR/USD, or about 0.8 pips all-in after commission. FP Markets’ Standard account is more expensive, with an average EUR/USD spread of 1.1 pips, and its commission-based cTrader Raw account charges a flat $6 per round-turn standard lot for forex.
In simple terms, Pepperstone and FP Markets are both good picks for traders who want tight pricing, but Pepperstone has the edge in overall commissions and fees based on its higher rating and better ranking. FP Markets still stands out for its low Raw ECN costs and won Best in Class for Commissions and Fees in the 2024 Annual Awards. If you trade often and want the cheapest setup, both brokers are worth a close look, especially their commission-based accounts rather than their standard spread-only options.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Minimum Deposit | $10 | $0 |
| Average spread (EUR/USD) - Spread-only account | 1.1 | 1.3 |
| All-in Cost EUR/USD - Raw spread account | 0.8 | 0.9 |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Pepperstone and FP Markets both give traders access to forex as a CFD or spot contract, and each also offers copy trading and cryptocurrency CFDs. Neither broker lets you buy exchange-traded shares on U.S. or international stock exchanges, so if you want to own listed shares directly, neither platform fits that need. For forex, Pepperstone offers 65 currency pairs, while FP Markets offers 71, giving FP Markets a slight edge in currency choice.
The bigger difference is in the overall range of markets. Pepperstone lists 2,631 tradeable symbols, compared with 10,000 at FP Markets, so FP Markets has a much wider selection of instruments overall. Pepperstone does stand out by offering actual cryptocurrency purchases, while FP Markets does not. On independent ratings for range of investments, Pepperstone scores 4 out of 5 stars and ranks #23 out of 36 brokers, while FP Markets scores 4.5 out of 5 stars and ranks #17 out of 36, making FP Markets the broader pick overall.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 2631 | 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) | Yes | 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 are closely matched when it comes to trading platforms and tools. Both brokers offer free demo accounts for simulated trading, along with their own in-house platform, web-based trading, and Windows desktop downloads. Each also supports popular third-party platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5), plus copy trading and the ability to place trades directly from a chart. In short, both brokers give traders a wide set of platform choices, whether they prefer to trade on a browser, desktop app, or through a familiar MetaTrader setup.
When it comes to overall platform quality, both brokers are rated 4 out of 5 stars for Trading Platforms and Tools. Pepperstone is ranked #21 out of 36 brokers by ForexBrokers.com in this category, while FP Markets is just behind at #22. That means Pepperstone has a slight edge in the ranking, but the gap is very small. For many traders, the decision between the two may come down to personal preference in platform design and the tools they like to use most.
| 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) | 90 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and FP Markets both give traders mobile apps for iPhone and Android, plus useful tools like price alerts, trendline drawing, and auto-saving chart drawings. Each broker also earns a 4-star rating for mobile trading apps, so both are solid options if you want to trade on the go. Pepperstone stands out a bit more for charting, offering 30 technical studies in its app, while FP Markets uses the default MetaTrader charting setup.
The biggest difference is watchlist syncing. Pepperstone lets your mobile watchlists stay in sync with your online account, so updates carry over between devices. FP Markets does not offer that feature, which may matter if you switch between desktop and mobile often. In ForexBrokers.com’s mobile app rankings, Pepperstone places slightly higher at #19 out of 36 brokers, compared with FP Markets at #20.
| 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 give traders a strong set of market research tools, including daily market commentary, forex news from major sources like Bloomberg and Reuters, a sentiment tool that shows long and short positioning, and an economic calendar for key global events. In other words, both brokers cover the basics well and make it easy to stay updated on what may move the market.
The main difference is that FP Markets goes further with third-party research tools such as Autochartist and Trading Central, while Pepperstone does not offer these add-ons. Even so, Pepperstone scores higher for research overall, with a 4.5-star rating and a #13 ranking out of 36 brokers, compared with FP Markets’ 4-star rating and #22 ranking. So, if you want more built-in research tools, FP Markets has the edge, but Pepperstone comes out ahead in overall research quality.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | 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 and FP Markets both give beginners plenty of learning material, including forex and CFD education, monthly online webinars, and at least 10 beginner videos plus 10 advanced videos. That means new traders can find a wide mix of articles, videos, and live sessions at either broker, making both platforms useful for building basic trading knowledge and moving on to more advanced topics over time.
When comparing the two, Pepperstone comes out ahead for education quality and recognition. It is rated 4.5 out of 5 stars for Education and ranks #15 out of 36 brokers at ForexBrokers.com, while FP Markets is rated 4 out of 5 stars and ranks #21. For beginners looking for a slightly stronger educational experience, Pepperstone has the edge, although FP Markets still offers a solid set of learning tools.
| 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
|
FP Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 90 |
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Pepperstone stands out from FP Markets by offering access to both actual delivered cryptocurrency purchases and cryptocurrency CFDs, while FP Markets only provides cryptocurrency CFDs and does not support buying the actual underlying crypto asset.
Pepperstone vs FP Markets: both brokers support PayPal, Skrill, and bank wire transfers, but only Pepperstone offers ACH/SEPA transfers, while Visa/Mastercard availability was not specified for either.
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) | 2631 | 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) | Yes | 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) - Spread-only account | 1.1 | 1.3 | |
| All-in Cost EUR/USD - Raw spread account | 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 | $10 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | 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) | 90 | 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 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 | No | 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 | |
|---|---|---|---|
| EUR/USD | Yes | Yes | |
| 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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