Interactive Brokers vs Pepperstone 2025

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.

Regulation

Interactive Brokers, established in 1977, and Pepperstone, founded in 2010, are popular online brokers in the financial industry, each with its own set of regulatory licenses and trust scores. Interactive Brokers boasts a perfect Trust Score of 99, indicating a high level of trustworthiness. It holds 9 Tier-1 licenses, the gold standard of safety as per ForexBrokers.com, and 2 Tier-2 licenses. This strong regulatory backing contributes to its reputation as a reliable choice for investors. Interactive Brokers is also publicly traded, adding another layer of transparency for its users.

Pepperstone, though a newer entrant to the market, has been able to secure a solid Trust Score of 95, reflecting its strong standing. It holds 3 Tier-1 licenses and 2 Tier-2 licenses, indicating a firm commitment to adhering to global regulations, though fewer in number compared to Interactive Brokers. While Pepperstone is not publicly traded, its dedication to maintaining a trusted service is represented by its regulatory approvals. Neither broker operates as a bank, focusing solely on providing brokerage services to their clients.

Feature	Interactive Brokers	Pepperstone
Year Founded info	1977	2010
Publicly Traded (Listed) info	Yes	No
Bank info	No	No
Tier-1 Licenses info	9	3
Tier-2 Licenses info	2	2
Tier-3 Licenses info	0	0
Tier-4 Licenses info	0	2

Fees

Interactive Brokers and Pepperstone both aim to keep forex trading costs low, but they charge in different ways. Interactive Brokers earns 5 stars and ranks #2 of 63 for Commissions and Fees (ForexBrokers.com), while Pepperstone earns 4.5 stars and ranks #11 of 63. In short: IBKR skews cheaper on EUR/USD for typical sizes, while Pepperstone’s value depends on choosing the right account and qualifying for volume discounts.

Interactive Brokers aggregates prices from 17 major interbank dealers and doesn’t mark up spreads; instead, you pay a commission. In Q3 2024, the average EUR/USD spread was 0.19 pips, for an all-in cost around 0.59 pips after commissions. Forex commissions start at 0.00002 (0.2 bps) of the U.S. dollar notional per side with a $2 minimum per order ($4 round turn) and can drop to 0.08 bps for very active traders. The $2 minimum makes trades under 100,000 units proportionally more expensive. Volume discounts can reduce the minimum to $1.50 per order above $1 billion in monthly volume and to $1.00 above $5 billion; large orders can be handled via RFQ.

Pepperstone’s pricing varies by account. The Razor account (MetaTrader, cTrader, TradingView) is commission-based and listed a 0.10-pip average EUR/USD spread in July 2024; adding roughly 0.70 pips in commission-equivalent brings the all-in cost to about 0.80 pips (near the industry average). The Standard account is commission-free but showed a wider 1.1-pip average on EUR/USD, making it pricier than Razor. High-volume traders can reduce costs via the Active Trader program: in the U.K./EU, professional clients trading at least £20 million per month can get a 15% per-lot rebate (up to 25% above £200 million), while in Australia, professional clients can see 10% to 30% spread reductions depending on monthly lots.

Feature	Interactive Brokers	Pepperstone
Minimum Deposit info	$0	$0
Average spread (EUR/USD) - Standard account info	0.59 info	1.1 info
All-in Cost EUR/USD - Active info	0.65 info	0.8 info
Non-wire bank transfer info	Yes	Yes
PayPal (Deposit/Withdraw) info	No	Yes
Skrill (Deposit/Withdraw) info	No	No
Bank Wire (Deposit/Withdraw) info	Yes	Yes

Dive deeper: Best Low Spread Forex Brokers.

Range of investments

Interactive Brokers offers a wider range of markets than Pepperstone. IB lists about 8,500 tradeable symbols and 90 forex pairs, while Pepperstone has roughly 1,726 symbols and 65 forex pairs. Both support forex trading as contracts for difference (CFDs) and as spot. A key difference is stock access: Interactive Brokers lets you buy exchange-traded securities on U.S. and international exchanges (think Apple on NASDAQ or Vodafone in London), whereas Pepperstone does not offer direct share dealing and focuses on CFDs.

For crypto, Interactive Brokers supports both actual coins you can own and crypto CFDs; Pepperstone offers crypto via CFDs only. Pepperstone does provide copy trading, while Interactive Brokers does not. Reflecting the broader lineup, ForexBrokers.com rates Interactive Brokers 5 out of 5 stars for Range of Investments and ranks it #1 out of 63 brokers; Pepperstone earns 4 out of 5 stars and ranks #27. Choose Interactive Brokers if you want the widest market access and direct ownership options, or Pepperstone if you prefer CFD-centric trading with copy trading tools.

Feature	Interactive Brokers	Pepperstone
Forex Trading (Spot or CFDs) info	Yes	Yes
Tradeable Symbols (Total) info	8500	1726
Forex Pairs (Total) info	90	65
U.S. Stocks (Shares) info	Yes	No
Global Stocks (Non-U.S. Shares) info	Yes	No
Copy Trading info	No	Yes
Cryptocurrency (Underlying) info	Yes	No
Cryptocurrency (CFDs) info	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.

Trading platforms and tools

Interactive Brokers vs Pepperstone: both brokers check key boxes for platform access and ease of testing. Each offers a free paper trading (demo) account, a proprietary platform built in-house, a Windows desktop platform, a web-based platform, and the ability to place trades directly from charts. That means you can practice, log in from a browser or a PC, and click-to-trade from a chart at either broker.

The bigger differences are in third‑party and social tools. Pepperstone supports copy trading and offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Interactive Brokers does not. For platform quality, ForexBrokers.com rates Interactive Brokers 5 stars and ranks it #3 out of 63 for Trading Platforms and Tools, compared with Pepperstone’s 4 stars and #22 ranking. Choose Pepperstone if you want MT4/MT5 and copy trading; pick Interactive Brokers if you want a top-rated in-house platform experience.

Feature	Interactive Brokers	Pepperstone
Virtual Trading (Demo) info	Yes	Yes
Proprietary Desktop Trading Platform info	Yes	Yes
Desktop Platform (Windows) info	Yes	Yes
Web Platform info	Yes	Yes
Copy Trading info	No	Yes
MetaTrader 4 (MT4) info	No	Yes
MetaTrader 5 (MT5) info	No	Yes
Charting - Indicators / Studies (Total) info	155	15
Charting - Trade From Chart info	Yes	Yes

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

Interactive Brokers and Pepperstone both deliver mobile trading apps for iPhone and Android. Each app supports stock and forex price alerts and lets you sync watchlists between the mobile app and your online account, so changes carry over across devices.

For charting, Interactive Brokers offers 97 technical studies compared with Pepperstone’s 30. Both apps let you draw trendlines, but only Pepperstone auto-saves your drawings. In overall quality, Interactive Brokers earns 5 out of 5 stars and ranks #4 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com, while Pepperstone scores 4 out of 5 stars and ranks #21.

Feature	Interactive Brokers	Pepperstone
Android App info	Yes	Yes
Apple iOS App info	Yes	Yes
Mobile Price Alerts info	Yes	Yes
Mobile Watchlists - Syncing info	Yes	Yes
Mobile Charting - Indicators / Studies info	97	30
Mobile Charting - Draw Trendlines info	Yes	Yes
Mobile Charting - Trendlines Autosave info	No	Yes

Dive deeper: Best Forex Trading Apps.

Market research

Interactive Brokers and Pepperstone both deliver essential daily market commentary and offer forex news from prestigious sources like Bloomberg and Reuters. While Pepperstone provides advanced technical analysis tools like Autochartist, Interactive Brokers counters with Trading Central's resources. Both platforms give traders access to sentiment-based tools, which display the ratio of long and short positions for various instruments. However, Interactive Brokers takes a step further by offering market insights from TipRanks and research tools from Acuity Trading, adding substantial value to its suite of resources.

For traders looking for comprehensive market research, Interactive Brokers holds an edge with its extensive array of tools, earning a 5-star research rating. In comparison, Pepperstone garners a commendable 4.5 stars. Both platforms feature an economic calendar, keeping users informed about upcoming economic events. Despite Pepperstone's robust offering, Interactive Brokers' additional research tools and higher ranking by ForexBrokers.com (#3 compared to Pepperstone's #12) make it a preferred choice for those seeking in-depth market research and analysis.

Feature	Interactive Brokers	Pepperstone
Daily Market Commentary (Articles) info	Yes	Yes
Forex News (Top-Tier Sources) info	Yes	Yes
Autochartist info	No	Yes
Trading Central info	Yes	No
Client sentiment data info	Yes	Yes
TipRanks info	Yes	No
Acuity Trading info	Yes	No
Economic Calendar info	Yes	Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

Interactive Brokers vs Pepperstone education for beginners: both brokers help new traders learn forex and CFDs. Each hosts online client webinars at least once a month and offers 10+ beginner videos to explain core trading concepts, plus 10+ advanced videos for when you’re ready to level up. Their education hubs include content that covers forex and CFD topics, so beginners have plenty of material to get started.

For overall education quality, Interactive Brokers leads with a 5-star Education rating and a #3 ranking out of 63 brokers on ForexBrokers.com, while Pepperstone earns 4.5 stars and ranks #17. If you want a top-rated education program, Interactive Brokers has the edge; if you’re looking for a solid path to learn forex and CFDs with videos and regular webinars, Pepperstone remains a strong pick.

Feature	Interactive Brokers	Pepperstone
Webinars info	Yes	Yes
Videos - Beginner Trading Videos info	Yes	Yes
Videos - Advanced Trading Videos info	Yes	Yes

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 63 of the best forex brokers, our research and account testing finds that Interactive Brokers is better than Pepperstone. Interactive Brokers finished with an overall rank of #2, while Pepperstone finished with an overall rank of #16.

Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.

Feature	Interactive Brokers	Pepperstone
Overall Rating info
Trust Score info	99	95
Range of Investments
Commissions & Fees
Platforms & Tools
Research
Mobile Trading
Education

FAQs

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Overall Rating	Interactive Brokers	Pepperstone
Overall Rating info
Commissions & Fees
Range of Investments
Platforms & Tools
Mobile Trading
Research
Education
Trust Score info	99	95
Winner	check_circle
Review	Interactive Brokers Review	Pepperstone Review

Broker Screenshots	Interactive Brokers	Pepperstone
Broker Gallery (click to expand) info

Regulation	Interactive Brokers	Pepperstone
Trust Score info	99	95
Year Founded info	1977	2010
Publicly Traded (Listed) info	Yes	No
Bank info	No	No
Regulated in one or more EU or EEA countries (MiFID). info	Yes info	Yes info
Tier-1 Licenses info	9	3
Tier-2 Licenses info	2	2
Tier-3 Licenses info	0	0
Tier-4 Licenses info	0	2

Tier-1 Licenses (Highly Trusted)	Interactive Brokers	Pepperstone
Australia (ASIC Authorised) info	Yes	Yes
Canada (CIRO Authorised) info	Yes	No
Hong Kong (SFC Authorised) info	Yes	No
Japan (FSA Authorised) info	Yes	No
Singapore (MAS Authorised) info	Yes	No
Switzerland (FINMA Authorised) info	Yes
United Kingdom (U.K.) (FCA Authorised) info	Yes	Yes
USA (CFTC Authorized) info	Yes	No
New Zealand (FMA Authorised) info	No	No
Regulated in one or more EU or EEA countries (MiFID). info	Yes info	Yes info

Tier-2 Licenses (Trusted)	Interactive Brokers	Pepperstone
Kenya (CMA Authorised) info		Yes
Israel (ISA Authorised) info	No	No
South Africa (FSCA Authorised) info	No	No
UAE (DFSA, FSRA, or SCA Authorised) info	Yes	Yes
India (SEBI Authorised) info	Yes	No
Jordan (JSC Authorised) info

Investments	Interactive Brokers	Pepperstone
Forex Trading (Spot or CFDs) info	Yes	Yes
Tradeable Symbols (Total) info	8500	1726
Forex Pairs (Total) info	90	65
U.S. Stocks (Shares) info	Yes	No
Global Stocks (Non-U.S. Shares) info	Yes	No
Copy Trading info	No	Yes
Cryptocurrency (Underlying) info	Yes	No
Cryptocurrency (CFDs) info	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	Interactive Brokers	Pepperstone
Average spread (EUR/USD) - Standard account info	0.59 info	1.1 info
All-in Cost EUR/USD - Active info	0.65 info	0.8 info
Inactivity Fee info	No	No
Order execution: Agency info	Yes	Yes
Order execution: Market Maker info	No	Yes

Funding	Interactive Brokers	Pepperstone
Minimum Deposit info	$0	$0
PayPal (Deposit/Withdraw) info	No	Yes
Skrill (Deposit/Withdraw) info	No	No
Bank Wire (Deposit/Withdraw) info	Yes	Yes
Non-wire bank transfer info	Yes	Yes

Trading Platforms	Interactive Brokers	Pepperstone
Proprietary Desktop Trading Platform info	Yes	Yes
Desktop Platform (Windows) info	Yes	Yes
Web Platform info	Yes	Yes
Copy Trading info	No	Yes
MetaTrader 4 (MT4) info	No	Yes
MetaTrader 5 (MT5) info	No	Yes
cTrader info	No	Yes

Trading Tools	Interactive Brokers	Pepperstone
Virtual Trading (Demo) info	Yes	Yes
Price Alerts info	Yes	Yes
Charting - Indicators / Studies (Total) info	155	15
Charting - Trade From Chart info	Yes	Yes
Charts can be saved info	Yes	Yes

Mobile Trading	Interactive Brokers	Pepperstone
Android App info	Yes	Yes
Apple iOS App info	Yes	Yes
Mobile Price Alerts info	Yes	Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info	Yes	Yes
Mobile Charting - Indicators / Studies info	97	30
Mobile Charting - Draw Trendlines info	Yes	Yes
Mobile Charting - Trendlines Autosave info	No	Yes
Mobile Research - Economic Calendar info	Yes	Yes

Research	Interactive Brokers	Pepperstone
Daily Market Commentary (Articles) info	Yes	Yes
Forex News (Top-Tier Sources) info	Yes	Yes
Autochartist info	No	Yes
Trading Central info	Yes	No
TipRanks info	Yes	No
Client sentiment data info	Yes	Yes
Economic Calendar info	Yes	Yes

Education	Interactive Brokers	Pepperstone
Webinars info	Yes	Yes
Videos - Beginner Trading Videos info	Yes	Yes
Videos - Advanced Trading Videos info	Yes	Yes

Major Forex Pairs	Interactive Brokers	Pepperstone
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info	Yes	Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
Review	Interactive Brokers Review	Pepperstone Review

Overall	Interactive Brokers	Pepperstone
Overall Rating info
Commissions & Fees
Range of Investments
Platforms & Tools
Mobile Trading
Research
Education
Trust Score info	99	95
Winner	check_circle
Review	Interactive Brokers Review	Pepperstone Review