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 and FXOpen offer distinct pricing structures for online trading. Pepperstone excels with its Razor account, which features competitive pricing for high-volume traders, particularly through its Active Trader program. The Razor account charges a commission on top of spreads, with an average spread of 0.10 pips for EUR/USD, and a total all-in cost of 0.80 pips when adding the commission-equivalent of 0.70 pips. In contrast, Pepperstone’s Standard account is commission-free but has a higher spread of 1.1 pips for EUR/USD, making it the pricier option. High-volume traders can benefit from rebates and spread reductions based on their trading activity in both the UK, EU, and Australia.
FXOpen, on the other hand, does not provide specific average spread data for its accounts, which limits direct comparison with Pepperstone’s transparent pricing approach. This lack of detailed fee information makes it more challenging to assess the overall cost competitiveness of FXOpen compared to Pepperstone. Despite this, FXOpen still offers a viable trading platform for those seeking simplicity in their fee structure.
In terms of overall ratings, Pepperstone receives a superior score of 4.5 stars out of 5 for its commissions and fees, ranking #10 out of 63 brokers according to ForexBrokers.com. FXOpen trails slightly behind, with a 4-star rating and a #44 ranking in the same category. This makes Pepperstone a more favorable choice for traders who prioritize cost efficiency and transparency in their trading fees.
| 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 provide opportunities for forex trading through CFDs or spot contracts, catering to traders interested in currency markets. Pepperstone boasts a significantly larger selection of tradeable symbols, offering 1726, compared to FXOpen’s 87. When it comes to tradeable forex pairs, Pepperstone provides 65 pairs while FXOpen offers 25. Both platforms enable clients to engage in copy trading, enhancing the trading experience by allowing investors to mirror the operations of proficient traders. However, neither Pepperstone nor FXOpen provides clients the capability to purchase exchange-traded securities on the U.S. or international exchanges, and neither offers the purchase of actual cryptocurrencies, although both allow trading in cryptocurrency derivatives.
Pepperstone generally outperforms FXOpen in terms of the range of investments available, receiving a four-star rating compared to FXOpen’s three stars. In a comparison compiled by ForexBrokers.com, Pepperstone ranks 26th out of 63 brokers for the range of investments offered, while FXOpen is positioned at 62nd. This suggests that Pepperstone may be the preferable choice for investors looking for a more extensive range of trading options, particularly in forex and crypto derivatives, although both platforms share certain limitations.
| 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 give traders the ability to try out their platforms risk-free with a virtual demo account, making it easy for newcomers to practice without making real investments. When it comes to trading platforms, Pepperstone offers a custom-made platform developed in-house, whereas FXOpen relies on other available platforms. Both brokers provide users with the convenience of Windows-based desktop and web-based trading platforms. They also support popular platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), with Pepperstone offering DupliTrade and FXOpen offering ZuluTrade for those interested in copy trading.
Pepperstone and FXOpen are neck and neck in some areas, such as the number of fields offered in their watch lists and the capability to trade directly from stock charts. However, when it comes to tools, Pepperstone edges out with 30 drawing tools against FXOpen's 15. Additionally, Pepperstone is positioned higher in ForexBrokers.com rankings at #22 out of 63, compared to FXOpen's #53. Despite these differences, both brokers are awarded a solid 4-star rating for their trading platforms and tools, reflecting their strong offerings for traders of all levels.
| 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.
Both Pepperstone and FXOpen provide users with robust mobile trading capabilities, offering essential apps for iPhone and Android devices. These apps allow traders to stay updated with stock and forex alerts, and both provide 30 technical studies for charting, making technical analysis more approachable for users. Moreover, traders on both platforms can draw trendlines and view multiple time frames, which is key for effective market analysis. While each app supports real-time watchlists, a standout difference is that Pepperstone offers watchlist symbol syncing with desktop accounts, whereas FXOpen does not. Additionally, Pepperstone ensures convenience by autosaving drawings on charts, a feature FXOpen unfortunately lacks.
The user experience of these apps has been well-received, with both earning a respectable four-star rating. Despite this similarity, their ranking differs significantly on ForexBrokers.com, with Pepperstone holding the 21st spot among 63 brokers, while FXOpen is positioned at 54. This may reflect the additional features like symbol syncing and autosave, contributing to Pepperstone's higher standing. Whether you're a serious trader or just starting, weighing these differences can help choose the ideal mobile trading companion.
| 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 top-tier sources like Bloomberg and Reuters, ensuring traders stay informed on the latest market trends. Notably, Pepperstone offers a wider range of research tools, including Autochartist for technical analysis and a sentiment-based trading tool to gauge market positions. Both brokers include an economic calendar that highlights key global economic events, but neither offers research tools from Trading Central or Acuity Trading, nor do they use TipRanks for market research.
In terms of overall quality, Pepperstone receives a research rating of 4.5 stars and is ranked 12th out of 63 brokers by ForexBrokers.com, indicating a strong emphasis on their research offerings. FXOpen, on the other hand, has a 3-star rating and is positioned at the bottom of the same list, ranked 63rd. This suggests that while both brokers keep traders informed, Pepperstone provides a more comprehensive suite of research tools, making it a more attractive option for those seeking detailed analysis and market insights.
| 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.
Pepperstone emerges as a strong choice for beginners seeking educational resources in the world of forex and CFDs. Offering more than ten educational pieces, including insightful articles, videos, and archived webinars, Pepperstone ensures that new traders have ample material to get started. They host monthly online educational webinars, which are complemented by a searchable archive of recorded sessions. This sets them apart as a broker committed to continuous learning. Additionally, Pepperstone provides a variety of beginner and advanced level videos specifically tailored for traders at different stages of their journey. The availability of an investor dictionary with over 50 defined investing terms further solidifies its educational offerings, earning it a commendable 4.5-star rating and a rank of 17th out of 63 brokers on ForexBrokers.com for education.
In comparison, FXOpen appears to be less focused on educational resources for its clients. While FXOpen does offer an investor dictionary similar to Pepperstone, it does not meet the same standard when it comes to the quantity and variety of educational content. FXOpen lacks the minimum threshold of ten educational pieces directly addressing forex or CFDs, and does not conduct monthly webinars or provide an archive of past sessions. Where Pepperstone offers both beginner and advanced videos, FXOpen falls short. Consequently, FXOpen receives a 3-star rating for education and ranks 58th in the same category among 63 brokers. For beginners prioritizing education, Pepperstone is an advantageous option.
| 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 63 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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