Interactive Brokers vs Pepperstone 2026

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, founded in 1977, is a publicly traded online broker, while Pepperstone, founded in 2010, is privately held. Neither company is a bank. According to ForexBrokers.com, Interactive Brokers earns a Trust Score of 99/99 and Pepperstone scores 94/99—both sit in the “highly trusted” range (90–99).

In terms of regulation, Interactive Brokers holds 8 Tier-1 licenses and 2 Tier-2 licenses, compared with Pepperstone’s 3 Tier-1 and 2 Tier-2 licenses. Tier-1 licenses are considered highly trusted and Tier-2 trusted by ForexBrokers.com, which helps explain why both brokers rank highly, with Interactive Brokers edging ahead thanks to its wider top-tier oversight.

Feature	Interactive Brokers	Pepperstone
Year Founded info	1977	2010
Publicly Traded (Listed) info	Yes	No
Bank info	No	No
Tier-1 Licenses info	8	3
Tier-2 Licenses info	2	2
Tier-3 Licenses info	0	0
Tier-4 Licenses info	0	2

Fees

Interactive Brokers (5/5 stars; ranked #2 of 63 for Commissions and Fees) and Pepperstone (5/5 stars; ranked #6 of 63) both offer competitive forex pricing, but they go about it differently. IBKR doesn’t routinely publish average forex spreads, though in Q3 2024 its EUR/USD averaged 0.19 pips, with an effective all-in cost of about 0.59 pips after commission. Pepperstone’s Razor account listed a 0.10‑pip average EUR/USD spread in July 2024; once you factor in the 0.70‑pip commission-equivalent, the all-in cost comes to about 0.80 pips. Pepperstone’s Standard account is commission-free but showed a higher 1.1‑pip average on EUR/USD, making it pricier than Razor for the same pair.

Interactive Brokers uses agency execution by aggregating quotes from 17 major interbank dealers and charges a commission instead of marking up spreads. Commissions start at 0.00002 (0.2 bps) of the USD trade value per side, with a $2 minimum per order ($4 round turn), roughly $16–$40 per million round turn; for a $100,000 EUR/USD buy-and-sell, that’s about 0.40 pips in commission on top of the spread. Because of the $2 minimum, trades below 100,000 units get proportionally more expensive. Active traders can qualify for lower costs: hit $1B in monthly forex volume and the minimum drops to $1.50 per order, and down to $1.00 at $5B. IBKR Lite and IBKR Pro support forex, but neither is commission-free, and large orders can be handled via RFQ to help reduce market impact.

Pepperstone is also agency-execution and offers two main choices: the commission-based Razor account (compatible with TradingView, MetaTrader 4/5, and cTrader) with a July 2024 average EUR/USD spread of 0.10 pips and an all-in cost near 0.80 pips after commission, or the commission-free Standard account at about 1.1 pips on EUR/USD. High-volume traders can trim costs through the Active Trader program. In the UK/EU, Professional clients trading at least £20M/month may receive a 15% spread rebate per lot, improving to 25% above £200M. In Australia, Professional clients start at a 10% discount from 100 lots over three months, reaching 30% for more than 3001 lots per month.

Feature	Interactive Brokers	Pepperstone
Minimum Deposit info	$0	$0
Average spread (EUR/USD) - Standard account info	0.226 info	1.1 info
All-in Cost EUR/USD - Active info	0.226 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 vs Pepperstone: for range of investments, Interactive Brokers covers far more markets. It offers 8,500 tradeable symbols and 90 forex pairs, compared with Pepperstone’s 1,726 symbols and 65 pairs. Both support forex trading. Only Interactive Brokers lets you buy exchange‑traded stocks on U.S. exchanges (for example, Apple on NASDAQ) and on international exchanges (for example, Vodafone in London); Pepperstone does not offer exchange‑traded securities.

For crypto, Interactive Brokers lets you buy actual coins, while Pepperstone offers cryptocurrency via CFDs but not the coins themselves. Pepperstone supports copy trading; Interactive Brokers does not. Reflecting this breadth, ForexBrokers.com rates Interactive Brokers 5 stars and ranks it #1 out of 63 brokers for range of investments, while Pepperstone earns 4 stars and ranks #23.

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	No	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 trading platforms and tools. Each one offers a free paper trading demo, an in-house platform, a Windows desktop download, and a web-based platform. You can place trades straight from charts with either broker, which makes timing entries and exits easier for many traders.

The biggest differences are in third-party and social features. Pepperstone supports copy trading and offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Interactive Brokers does not. For overall platform quality, ForexBrokers.com rates Interactive Brokers 5 stars and ranks it #2 out of 63 brokers, compared with Pepperstone’s 4 stars and #21 ranking. If you want MT4/MT5 or copy trading, Pepperstone is the better fit; if you want a higher-rated platform suite, Interactive Brokers stands out.

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 full-featured mobile trading apps for iPhone and Android, complete with price alerts and watchlists that sync with your online account. Each app lets you draw trendlines on charts. The big difference is charting depth: Interactive Brokers offers 155 technical studies (indicators), while Pepperstone includes 30. If saving your chart drawings automatically matters, Pepperstone does that; Interactive Brokers does not.

For traders who want more in-app analysis tools, Interactive Brokers stands out and holds a 5-star Mobile Trading Apps rating and a #4 ranking out of 63 brokers on ForexBrokers.com. Pepperstone is easier to keep drawings intact across sessions and carries a 4-star rating with a #19 ranking out of 63. Both are solid choices for trading on the go; choose Interactive Brokers for deeper charting, or Pepperstone for simpler charts with auto-saved annotations.

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	155	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

Comparing Interactive Brokers vs Pepperstone for beginner education, Interactive Brokers takes the lead. It earns 5 stars and ranks #1 out of 63 brokers for Education on ForexBrokers.com, while Pepperstone scores 4.5 stars and ranks #15. Both brokers run online client webinars at least once a month and provide at least 10 beginner-friendly trading videos, along with 10+ advanced videos for when you’re ready to go further.

Interactive Brokers is the stronger pick if you want the widest overall learning path, from first steps to advanced strategies. Pepperstone still offers plenty of helpful material for new traders, including regular webinars and a sizable video library, and it’s a good option if you’re focused on learning forex and CFDs. For maximum educational breadth, choose Interactive Brokers; for solid, accessible learning with an FX focus, Pepperstone is a worthy alternative.

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 #17.

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	94
Range of Investments
Trading Fees
Trading Platforms
Research
Mobile Trading
Education

FAQs

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Overall Rating	Interactive Brokers	Pepperstone
Overall Rating info
Trading Fees
Range of Investments
Trading Platforms
Mobile Trading
Research
Education
Trust Score info	99	94
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	94
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	8	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 CMA 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	No	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	0.226 info	1.1 info
All-in Cost EUR/USD - Active info	0.226 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	155	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
Trading Fees
Range of Investments
Trading Platforms
Mobile Trading
Research
Education
Trust Score info	99	94
Winner	check_circle
Review	Interactive Brokers Review	Pepperstone Review