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 | 2 |
Comparing commissions and fees, both Pepperstone and FP Markets deliver low costs on their commission-based accounts, landing around 0.8 pips all-in on EUR/USD. FP Markets holds a slight edge in industry recognition, earning 5 stars for Commissions and Fees and ranking #6 out of 63 brokers, while Pepperstone scores 4.5 stars and ranks #11 out of 63. FP Markets also won Best in Class for Commissions and Fees in 2024.
Pepperstone’s Razor account (TradingView, MT4/MT5, or cTrader) averaged 0.10 pips on EUR/USD as of July 2024; after adding the commission-equivalent of 0.70 pips, the all-in cost is about 0.80 pips. Its Standard account is commission-free but pricier, with an average 1.1 pips spread. High-volume traders can cut costs further via the Active Trader program: in the U.K. and EU, Professional clients may get 15% to 25% spread rebates based on monthly forex volume, while in Australia, Professional clients can receive roughly 10% to 30% spread reductions depending on tier and lots traded.
FP Markets’ Raw ECN account averaged 0.1 pips on EUR/USD as of October 2023, with a $6 round-turn commission per standard lot bringing the all-in cost to about 0.8 pips. Its Standard (spread-only) account averaged 1.1 pips, and you can choose MetaTrader or cTrader on either pricing model. For share CFDs in Australia, the Iress ViewPoint suite offers DMA pricing with depth of book but may carry platform and data fees unless you meet the Premier tier or generate at least AUD 150 in monthly commissions; the lower-cost Iress Investor platform removes monthly fees but has reduced data and charting.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Minimum Deposit | $0 | $100 AUD |
| Average spread (EUR/USD) - Standard account | 1.00 | 1.2 |
| All-in Cost EUR/USD - Active | 0.70 | 0.7 |
| 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, but FP Markets offers a wider selection overall. FP Markets lists about 10,000 tradeable symbols and 71 currency pairs, while Pepperstone provides 1,726 symbols and 65 pairs. Neither broker lets you buy exchange‑traded U.S. or international shares directly; their focus is on CFD trading.
Both brokers support copy trading and let you trade crypto via CFDs, but neither offers direct, delivered crypto. For Range of Investments, Pepperstone earns 4 out of 5 stars and ranks 27th out of 63 brokers, while FP Markets scores 4.5 stars and ranks 19th. If you want the largest menu of markets, FP Markets has the edge; if you prefer a more streamlined list, Pepperstone still covers the essentials.
| 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 trading platforms and tools. Each broker offers simulated (paper) trading with a free virtual demo account, a proprietary platform option, a Windows-based desktop download, and a web-based platform. They also support copy trading and the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5). You can place trades directly from charts, and both lineups include technical indicators and watchlists to help you track markets.
For Trading Platforms and Tools, both brokers are rated 4 stars by ForexBrokers.com. Pepperstone is ranked #22 out of 63 brokers, with FP Markets close behind at #23. If you’re choosing between them, it may come down to which interface feels better to you—try each broker’s demo account to compare charting, trading from charts, and copy trading features before you commit.
| 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 offer iPhone and Android apps with price alerts and solid charting on the go. Each earned 4 stars for mobile trading apps, though FP Markets ranks slightly higher at #18 out of 63 brokers on ForexBrokers.com, compared with Pepperstone at #21.
For day-to-day use, Pepperstone stands out with watchlist syncing across mobile and web, while FP Markets does not sync watchlists. Pepperstone’s app includes 30 built-in technical studies, and FP Markets relies on MetaTrader’s default indicator set. Both apps let you draw trendlines and will auto-save your chart drawings, making it easy to pick up where you left off.
| 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 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 (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 and FP Markets both deliver beginner-friendly forex and CFD education with at least 10 learning pieces, including articles, videos, and archived webinars. Each broker also runs ongoing client webinars (at least one per month). For newcomers, both provide 10+ beginner video lessons to build core skills, along with 10+ advanced videos for when you’re ready to deepen your strategy.
In head-to-head results, Pepperstone earns 4.5/5 stars for Education and ranks #17 out of 63 brokers at ForexBrokers.com, while FP Markets scores 4/5 stars and ranks #23. If you want a slightly stronger overall learning experience with frequent webinars and a broad video library, Pepperstone has the edge—though FP Markets remains a solid choice with comprehensive materials for beginners.
| 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 #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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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 | 95 | 89 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | FP Markets Review |
| Broker Screenshots | Pepperstone | FP Markets | |
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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 | 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 (SFC 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 SCA 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 | 1.00 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.70 | 0.7 | |
| 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 | 95 | 89 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | FP Markets Review |
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