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 |
When comparing the commissions and fees of online brokers Pepperstone and iFOREX, Pepperstone emerges as the more favorable option for cost-effectiveness, especially with its specialized accounts. Pepperstone offers the Razor account, known for competitive pricing through its commission-based model, available on popular trading platforms like TradingView, MetaTrader, and cTrader. The Razor account has an average spread of 0.10 pips for EUR/USD, and when combined with a commission-equivalent of 0.70 pips, the all-in cost rises to 0.80 pips, aligning closely with the industry average. On the other hand, the Pepperstone Standard account is commission-free, with a higher average spread of 1.1 pips on the same currency pair, making it a less cost-effective choice compared to the Razor account.
Pepperstone's commitment to cost savings extends to their Active Trader program, providing rebates and spread reductions based on trading volumes. In the UK and EU, professional clients trading significant volumes can qualify for rebates up to 25% on spreads, while Australian clients see reductions up to 30% per lot at the highest tier. These incentives greatly enhance the value proposition for high-volume traders, contributing to Pepperstone's 4.5-star rating out of five for commissions and fees.
In contrast, iFOREX does not have average spread data readily available, and it ranks much lower in terms of cost efficiency, receiving a 3-star rating for commissions and fees. When evaluated among 63 brokers by ForexBrokers.com, Pepperstone stands at #10 in the category, signaling its strong position in delivering competitive pricing, while iFOREX trails significantly at #61. This highlights Pepperstone as a standout choice for traders prioritizing cost-effective trading conditions.
| 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 provide opportunities for forex trading using CFDs, offering traders viable options in the currency market. Pepperstone excels with 1,726 tradeable symbols, including 65 forex pairs, while iFOREX provides access to 750 symbols, with a slightly higher number of forex pairs at 88. Neither platform allows investing in actual securities on U.S. or international exchanges.
For those interested in diversified trading methods, Pepperstone includes the option of copy trading, giving it an edge over iFOREX, which does not offer this feature. Both platforms support cryptocurrency derivatives but not the purchase of actual cryptocurrency assets. With Pepperstone earning a 4-star rating and iFOREX earning 3.5 stars for its range of investments, Pepperstone also holds a higher ranking from ForexBrokers.com at #26 compared to iFOREX's #41. This positions Pepperstone as a stronger choice for those seeking variety and advanced trading features.
| 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.
When comparing the trading platforms and tools offered by Pepperstone and iFOREX, several distinct differences come to light. Pepperstone shines with its range of options, offering a free virtual demo account for simulated trading, which iFOREX does not provide. Both brokers have their own proprietary platforms, but when it comes to external platforms, Pepperstone supports MetaTrader 4 and MetaTrader 5, which are not available with iFOREX. Pepperstone also provides more options for trading strategies with the inclusion of copy trading and DupliTrade, whereas iFOREX doesn't offer these features. Both brokers, however, do offer users the convenience of web-based trading platforms.
For charting tools, Pepperstone packs in 30 drawing tools compared to iFOREX's 25, although both allow users to trade directly from a stock chart. On the organization front, iFOREX edges out with nine columns for watch lists as opposed to Pepperstone's seven. Despite their differences, both brokers are rated four stars for their trading platforms and tools, reflecting a solid reputation in this area. However, Pepperstone's offerings earn a higher rank (#22) compared to iFOREX (#54) among 63 brokers as reviewed by ForexBrokers.com. This ranking highlights Pepperstone's more comprehensive portfolio of tools and resources for traders.
| 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.
When choosing between Pepperstone and iFOREX for mobile trading, both platforms offer iPhone and Android apps, but Pepperstone stands out with more features for active traders. Pepperstone provides stock or forex price alerts, which iFOREX does not, keeping traders informed on market movements. Furthermore, Pepperstone offers the convenience of watchlist symbol syncing, allowing watchlists in the mobile app to sync seamlessly with the client’s online account, a feature absent in iFOREX.
Pepperstone excels in charting tools with 30 technical studies and the ability to draw trendlines and view multiple time frames like daily, weekly, or intraday. Drawings on charts also save automatically, simplifying the tracking of trading strategies. In comparison, iFOREX lacks these advanced features. Additionally, Pepperstone allows for the creation of watchlists with real-time quotes, a tool iFOREX does not provide. Both apps receive a four-star rating for user satisfaction, yet Pepperstone ranks #21 out of 63 brokers by ForexBrokers.com for mobile trading apps, while iFOREX comes in at #55, making Pepperstone a more equipped choice for traders seeking comprehensive mobile trading capabilities.
| 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 commentaries and economic calendars to help traders stay informed about current and upcoming global events. However, when it comes to accessing top-tier forex news from sources like Bloomberg, Reuters, or Dow Jones, Pepperstone holds the edge, offering insights from these respected institutions, while iFOREX does not. For those interested in utilizing advanced tools like Autochartist for technical analysis, Pepperstone again takes the lead, providing such options, whereas iFOREX does not offer these tools. On the flip side, iFOREX compensates by offering research tools from Trading Central, giving traders access to Technical Analytics, a resource Pepperstone does not include.
Both Pepperstone and iFOREX offer sentiment-based trading tools that display the ratio of long to short positions across various instruments. Yet, neither broker includes research tools from Acuity Trading or market research from TipRanks. In terms of research quality, Pepperstone is rated higher, earning 4.5 out of 5 stars compared to iFOREX's 3.5 stars. This rating is reflected in their rankings; Pepperstone stands at #12 out of 63 brokers in the Research category on ForexBrokers.com, whereas iFOREX is ranked #48, indicating Pepperstone's more comprehensive offerings in market research resources.
| 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 | No |
| Signal Centre (Acuity Trading) | No | 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 |
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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) | 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 | iFOREX | |
|---|---|---|---|
| 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 | 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 | 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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