Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs iFOREX, 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, established in 2010, and iFOREX, founded in 1996, are both online brokers that offer trading services without being publicly traded or operating as banks. Pepperstone holds a strong position in terms of regulatory safety with three Tier-1 licenses, which are highly trusted, and two Tier-2 licenses. In comparison, iFOREX holds one Tier-1 license, marking it as highly trusted, but lacks Tier-2 licenses. Their Trust Score ratings reflect these differences, with Pepperstone earning a high score of 95, indicating a high level of trust, while iFOREX scores a 75, categorized as average risk.
For individuals seeking a trusted online trading platform, understanding the regulatory landscape is crucial. Pepperstone’s accumulation of multiple Tier-1 and Tier-2 licenses, alongside its high Trust Score rating, highlights its commitment to reliability and client security. Meanwhile, iFOREX, though holding less regulatory credentials, still maintains a presence in the industry with an average sense of security for traders. This regulation comparison aids potential investors in making informed decisions based on the level of trust and oversight each broker provides.
| Feature |
Pepperstone
|
iFOREX
|
|---|---|---|
| Year Founded | 2010 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
Pepperstone generally offers more competitive commissions and fees than iFOREX. Pepperstone earns 4.5/5 stars and ranks #11 out of 63 brokers for Commissions and Fees at ForexBrokers.com, while iFOREX holds a 3/5 star rating and ranks #62 out of 63.
Pepperstone’s Razor account uses a commission-based model on TradingView, MetaTrader (MT4/MT5), or cTrader. As of July 2024, the average EUR/USD spread was 0.10 pips, and when you add the commission-equivalent of 0.70 pips, the all-in cost was about 0.80 pips—near the industry average. The Standard account is commission-free but showed a higher 1.1-pip average spread on EUR/USD, making it costlier than Razor. High-volume traders can further cut costs via the Active Trader program with spread rebates: in the U.K. and EU, eligible professional clients start around 15% of the spread per lot from £20M/month in forex volume, rising to 25% above £200M; in Australia, tiered reductions of roughly 10% to 30% apply from 100 to 3,001+ lots (measured over a three-month period).
For iFOREX, average spread data is not available, making it difficult to gauge typical all-in pricing or compare precise trading costs. Given its lower 3/5 star rating and #62/63 ranking for Commissions and Fees, cost-focused traders may find Pepperstone’s transparent Razor pricing and volume-based rebates more appealing.
| Feature |
Pepperstone
|
iFOREX
|
|---|---|---|
| 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 | No |
| 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 iFOREX both let you trade forex via CFDs, but their overall product lineups differ. Pepperstone lists 1,726 tradeable instruments, more than double iFOREX’s 750. That said, iFOREX offers more forex pairs (88) than Pepperstone (65). Neither broker lets you buy real, exchange‑traded stocks on U.S. or international exchanges, so you can’t directly purchase shares like Apple or Vodafone through either platform.
For extras, both brokers offer cryptocurrency derivatives but not actual (delivered) crypto. Pepperstone supports copy trading, while iFOREX does not. Reflecting the broader selection, Pepperstone earns 4 stars for Range of Investments and ranks 27th out of 63 brokers at ForexBrokers.com, compared with iFOREX at 3.5 stars and 42nd. If you want more total instruments or copy trading, Pepperstone stands out; if you want a wider list of forex pairs specifically, iFOREX has the edge.
| Feature |
Pepperstone
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 750 |
| Forex Pairs (Total) | 65 | 88 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | No |
| 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.
Pepperstone vs iFOREX: Pepperstone offers a free demo (paper) account, while iFOREX does not. Both brokers have their own proprietary platform and a web-based platform. Pepperstone also provides a Windows desktop download and supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5); iFOREX offers neither a Windows download nor MT4/MT5. For social features, Pepperstone includes copy trading and DupliTrade (neither supports ZuluTrade), whereas iFOREX does not offer copy trading or DupliTrade.
On tools, both let you trade directly from charts. Pepperstone lists 30 drawing tools versus 25 at iFOREX, while iFOREX offers more watchlist fields (9 vs 7). According to ForexBrokers.com, both earn 4 stars for Trading Platforms and Tools, but Pepperstone ranks #22 of 63 brokers compared with iFOREX at #55. If you want a demo account, MetaTrader, desktop access, and copy trading, Pepperstone may fit better; if you’re fine with a web platform and a proprietary experience, iFOREX could suit your needs.
| Feature |
Pepperstone
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 57 |
| Charting - Drawing Tools (Total) | 30 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Pepperstone and iFOREX offer iPhone and Android trading apps. For everyday use, Pepperstone packs more tools: price alerts, synced watchlists that mirror your web account, and real-time watchlists. Its charts include 30 technical studies, trendline drawing, multiple time frames (intraday, daily, weekly), and auto-saved drawings. iFOREX, by contrast, does not provide price alerts, watchlist syncing, real-time watchlists, trendline drawing, or multi-time-frame charts, and it does not list a count of built-in studies.
Despite both earning 4 out of 5 stars for mobile trading apps, ForexBrokers.com ranks Pepperstone #21 out of 63 brokers and iFOREX #56 out of 63. In short, choose Pepperstone if you value alerts, flexible charting, and seamless syncing; pick iFOREX if you only need basic iOS and Android access for placing trades.
| Feature |
Pepperstone
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
Pepperstone and iFOREX both provide daily market commentary, an economic calendar, and a sentiment tool that shows the balance of long vs. short positions. Pepperstone stands out for delivering forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, and for offering Autochartist tools for technical and fundamental insights. iFOREX does not include top-tier news or Autochartist, but it does offer Trading Central’s research tools. Pepperstone does not include TipRanks or Acuity Trading, and iFOREX does not disclose support for TipRanks or Acuity Trading.
For research quality, Pepperstone is rated 4.5/5 stars and ranks #12 out of 63 brokers at ForexBrokers.com, while iFOREX is rated 3.5/5 stars and ranks #49. In short, choose Pepperstone if premium news feeds and Autochartist matter to you; pick iFOREX if you want access to Trading Central’s analytics.
| Feature |
Pepperstone
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Pepperstone stands out for beginners seeking comprehensive educational resources in forex and CFDs. Offering an impressive array of more than ten educational articles, videos, and webinars, Pepperstone is committed to helping new investors understand the intricacies of trading. In addition, they host monthly webinars and provide access to a searchable archive of past sessions, ensuring that knowledge is always within reach. With a robust selection of beginner and advanced trading videos, along with a detailed investor dictionary comprising over 50 terms, Pepperstone receives high accolades for its educational offerings, boasting a 4.5-star rating and ranking 17th out of 63 brokers in the Education category on ForexBrokers.com.
iFOREX, while offering a decent number of beginner trading videos, falls short in several educational areas. Unlike Pepperstone, iFOREX does not provide a library of at least ten educational pieces focused on forex or CFDs, nor does it host regular webinars or maintain an archive of recorded sessions. Additionally, iFOREX lacks an investor dictionary with comprehensive investing terms, which might be a disadvantage for beginners seeking to build a solid foundation in trading. This reliance on a more limited set of educational tools results in a lower education rating of 3.5 stars, placing iFOREX at 53rd position on ForexBrokers.com for education out of 63 brokers.
| Feature |
Pepperstone
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
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 iFOREX. Pepperstone finished with an overall rank of #16, while iFOREX finished with an overall rank of #52.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
|
iFOREX
|
|---|---|---|
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| Trust Score | 95 | 75 |
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Both Pepperstone and iFOREX do not provide the option to buy actual cryptocurrency, but they each offer the ability to trade cryptocurrency derivatives.
In comparing Pepperstone and iFOREX, both brokers offer PayPal, Skrill, Visa, Mastercard, and bank wire options for depositing and withdrawing funds, yet only Pepperstone provides the additional flexibility of ACH or SEPA 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 | iFOREX | |
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| Trust Score | 95 | 75 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
| Broker Screenshots | Pepperstone | iFOREX | |
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| Regulation | Pepperstone | iFOREX | |
|---|---|---|---|
| Trust Score | 95 | 75 | |
| Year Founded | 2010 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | iFOREX | |
|---|---|---|---|
| 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) | |||
| 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 | iFOREX | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| 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) |
| Investments | Pepperstone | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 750 | |
| Forex Pairs (Total) | 65 | 88 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | iFOREX | |
|---|---|---|---|
| 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 | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| 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 | iFOREX | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 15 | 57 | |
| Charting - Drawing Tools (Total) | 30 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | Pepperstone | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Pepperstone | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | ||
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Pepperstone | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
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| Trust Score | 95 | 75 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
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