Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs FXOpen, 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 FXOpen are notable players in the online brokerage field, each carrying distinct regulatory credentials. Established in 2010, Pepperstone has quickly garnered a strong reputation with a Trust Score of 95 out of 99, reflecting its high reliability according to ForexBrokers.com. This credibility is backed by Pepperstone's three Tier-1 licenses and two Tier-2 licenses, signifying its adherence to stringent regulatory standards. While it is not a publicly traded company nor a bank, Pepperstone's regulations provide clients with a significant sense of security.
In contrast, FXOpen, founded in 2003, presents a different profile. With a Trust Score of 76, it falls within the average risk category of ForexBrokers.com's ratings. FXOpen holds two Tier-1 licenses but lacks Tier-2 licenses, which indicates a slight difference in the trust and regulatory coverage compared to Pepperstone. Like its counterpart, FXOpen is neither a bank nor a publicly listed entity. Overall, while both brokers offer reliable services, Pepperstone leads with a higher trust score and regulatory compliance, providing an extra layer of investor confidence.
| Feature |
Pepperstone
|
FXOpen
|
|---|---|---|
| Year Founded | 2010 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 0 |
Pepperstone stands out for its competitive pricing, especially for high-volume traders using the Razor account with the Active Trader program. This account, available on platforms like TradingView, MetaTrader, and cTrader, operates on a commission-based pricing model. For the EUR/USD, the average spread is around 0.10 pips, and with an additional commission-equivalent of 0.70 pips, the total cost reaches approximately 0.80 pips, which aligns with industry averages. On the other hand, Pepperstone’s Standard account does not charge commissions but has higher spreads, with an average of 1.1 pips for the EUR/USD, making it less cost-effective compared to the Razor account.
Pepperstone also offers significant benefits through its Active Trader program, which provides rebates based on trading volume. In regions like the UK and EU, and Australia, traders can receive spread rebates that increase with higher trading volumes. Meanwhile, FXOpen doesn’t provide detailed spread data, but it maintains a solid reputation for competitive fees overall. FXOpen is rated 4 out of 5 stars for commissions and fees, whereas Pepperstone receives a slightly higher rating of 4.5 stars.
In terms of rankings by ForexBrokers.com, Pepperstone is a favorable choice, positioned at #10 out of 62 brokers for commissions and fees. FXOpen, while still a strong contender, is ranked lower at #45. This indicates Pepperstone’s broad appeal for traders seeking favorable cost structures, especially those who qualify for its Active Trader program.
| Feature |
Pepperstone
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.00 | N/A |
| All-in Cost EUR/USD - Active | 0.70 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| 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 FXOpen both offer forex trading through CFDs or spot contracts, catering to traders eager to engage in the currency market. However, Pepperstone stands out with a significantly larger range of 1,726 tradeable symbols compared to FXOpen's 87. This includes 65 forex pairs from Pepperstone versus 25 offered by FXOpen, giving Pepperstone customers a more extensive selection. Both brokers lack exchange-traded securities on U.S. or international exchanges, limiting opportunities to purchase stock such as Apple's or Vodafone's shares directly.
For those interested in copy trading, both brokers offer this feature, allowing users to mirror successful strategies. Cryptocurrency enthusiasts can dabble in derivatives at both Pepperstone and FXOpen, although neither allows the purchase of actual, delivered cryptocurrencies. In terms of investment range ratings, Pepperstone receives 4 stars, ranking 26th out of 62 brokers, highlighting its broader scope. Meanwhile, FXOpen earns 3 stars, placing it at rank 61, indicating a more limited range of investment offerings.
| Feature |
Pepperstone
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 87 |
| Forex Pairs (Total) | 65 | 25 |
| 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). |
Dive deeper: Best Copy Trading Platforms.
Pepperstone and FXOpen both provide traders with ample platforms and tools to facilitate an engaging experience. Each broker supports simulated trading with free virtual demo accounts, catering to those looking to practice without real financial risk. Pepperstone stands out with its proprietary platform, an in-house development that FXOpen does not offer. Both brokers offer Windows-based desktop platforms and browser-based trading, ensuring flexibility across devices. When it comes to third-party platforms, both Pepperstone and FXOpen support MetaTrader 4 and 5. However, Pepperstone also offers DupliTrade, while FXOpen counters with ZuluTrade for diverse trading styles. Pepperstone leads with 30 drawing tools for charting compared to FXOpen's 15, but both offer seven customizable columns for watch lists and the ability to trade directly from stock charts.
In terms of ratings, both brokers score 4 out of 5 for their trading platforms and tools, reflecting their strong service offerings. Yet, there is a marked difference in rankings by ForexBrokers.com, with Pepperstone positioned at #22 and FXOpen further down at #53 out of 62 brokers in the Trading Platforms and Tools category. This suggests a more favorable reception towards Pepperstone's offerings in this domain. Overall, while both brokers equip traders with essential tools and technology, Pepperstone might appeal more to traders seeking in-house platform advantages and additional charting capabilities.
| Feature |
Pepperstone
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| 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 | Yes |
| Charting - Indicators / Studies (Total) | 15 | 30 |
| Charting - Drawing Tools (Total) | 30 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Pepperstone and FXOpen, both brokers provide well-rounded options for traders on the go, compatible with iPhone and Android devices. Users will find key features in both platforms, such as stock and forex price alerts and the ability to draw trendlines or view various time frames on charts. Additionally, each app supports 30 technical studies, allowing traders to perform comprehensive technical analysis on the move. While both offer the convenience of creating a watchlist with real-time quotes, only Pepperstone includes the ability to sync watchlist symbols with the client's online account, ensuring any modifications reflect instantly across platforms. FXOpen lacks this feature, which may be crucial for traders looking for seamless integration.
Another distinctive element of the Pepperstone app is its capability to auto-save chart drawings, which FXOpen does not offer. Despite these differences, both brokers receive a four-star rating in mobile trading, showcasing their reliable performance in this category. However, according to ForexBrokers.com, Pepperstone stands out with a higher ranking, placing 21st out of 62 brokers, while FXOpen is positioned at 54th. This ranking highlights Pepperstone's slight edge in offering a user-friendly mobile trading experience that potentially meets more diverse trading needs.
| Feature |
Pepperstone
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Pepperstone and FXOpen both provide daily market commentary and access to forex news from leading sources like Bloomberg and Reuters, ensuring traders stay informed with the latest market updates. However, Pepperstone edges ahead by offering technical analysis tools from Autochartist and a sentiment-based trading tool that visualizes market sentiment through the ratio of long or short positions. FXOpen does not provide these particular features, which might limit users seeking advanced analytical capabilities.
Both brokers include an economic calendar that highlights significant global news events, benefiting traders looking to time their trades with economic releases. Despite these similarities, Pepperstone receives a higher research rating at 4.5 stars compared to FXOpen's 3 stars, and ranks significantly higher at #12 in the Research category by ForexBrokers.com. Meanwhile, FXOpen sits at the bottom of the list at #62, reflecting a notable gap in research capabilities between the two brokers.
| Feature |
Pepperstone
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| 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, Pepperstone stands out as a top choice for beginners in the forex and CFDs market. Pepperstone provides a wide array of educational materials, including over ten articles, videos, and archived webinars focusing on forex and CFDs. Additionally, traders can access monthly online webinars that are tailored to enhance their trading skills and knowledge. Pepperstone also offers a searchable archive of past webinars, making it easy for traders to review content at their convenience. With at least ten beginner-friendly videos on trading topics, Pepperstone ensures newcomers are well-equipped to start their trading journey. Moreover, more advanced traders are not left behind, thanks to the availability of over ten videos catering to a higher level of expertise. Furthermore, an investor dictionary with over 50 defined terms aids in understanding complex financial jargon.
On the other hand, FXOpen provides fewer educational resources for those just starting. The broker does not meet the minimum threshold of ten educational pieces dedicated to forex and CFDs, nor does it offer regular client webinars or archival access to past sessions. While FXOpen presents an investor dictionary similar to that of Pepperstone, it lags behind in providing a robust selection of beginner and advanced trading videos. As a result, Pepperstone is awarded a rating of 4.5 stars for Education, significantly higher than FXOpen's 3 stars. This performance positions Pepperstone at 17th out of 62 brokers, whereas FXOpen is ranked at 58th. Choosing Pepperstone could thus be beneficial for traders who seek a well-rounded, enriching learning experience to support their trading endeavors.
| Feature |
Pepperstone
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| 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 FXOpen. Pepperstone finished with an overall rank of #16, while FXOpen finished with an overall rank of #54.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
|
FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 76 |
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Both Pepperstone and FXOpen do not offer the ability to buy actual delivered cryptocurrencies, but they do provide options for trading cryptocurrency derivatives.
Pepperstone surpasses FXOpen by accepting ACH, SEPA, and PayPal for deposits and withdrawals, while both platforms support Skrill, Visa, Mastercard, and bank wire transfers.
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 | FXOpen | |
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| Trust Score | 95 | 76 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
| Broker Screenshots | Pepperstone | FXOpen | |
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| Regulation | Pepperstone | FXOpen | |
|---|---|---|---|
| Trust Score | 95 | 76 | |
| Year Founded | 2010 | 2003 | |
| 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 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 0 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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 | Yes | |
| 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 | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Pepperstone | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 87 | |
| Forex Pairs (Total) | 65 | 25 | |
| 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). |
| Cost | Pepperstone | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | N/A | |
| All-in Cost EUR/USD - Active | 0.70 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| 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 | FXOpen | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| 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 | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | Yes |
| Trading Tools | Pepperstone | FXOpen | |
|---|---|---|---|
| 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 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | FXOpen | |
|---|---|---|---|
| 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 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Pepperstone | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Pepperstone | FXOpen | |
|---|---|---|---|
| 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 |
| Overall | Pepperstone | FXOpen | |
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| Trust Score | 95 | 76 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
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