Pepperstone vs Interactive Brokers Review

To find the top fx brokers, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare Interactive Brokers vs Pepperstone.

To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. Both Interactive Brokers and Pepperstone hold a 4.00 star rating.

Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. Both Interactive Brokers and Pepperstone are regulated in a major hub. Interactive Brokers is a publicly traded company, Pepperstone isn't. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. Pepperstone trails Interactive Brokers by 26 total currency pairs (for example, EUR/USD), with Interactive Brokers offering 85 and Pepperstone offering 59.

To round out our comparison of Interactive Brokers vs Pepperstone, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. Pepperstone offers Meta Trader while Interactive Brokers does not. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. Interactive Brokers trails Pepperstone by 22 total charting tools, with Pepperstone offering 31 and Interactive Brokers offering 9. Interactive Brokers boasts an offering of 121 different indicators (for example, moving averages) compared to Pepperstone's 51 available indicators.

Overall, Interactive Brokers boasts 4.50 stars versus Pepperstone's 4.00 stars. And, when it comes to individual category awards, Pepperstone posted awards Best in Class - Customer Service and Best in Class - Active Trading in 2018, while Interactive Brokers found itself with none of these.