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Interactive Brokers vs Pepperstone 2025

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025

In this head to head comparison of Interactive Brokers vs Pepperstone, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

Interactive Brokers
5/5 Stars Overall
  • Minimum Deposit: $0
  • Trust Score: 99
  • Tradeable Symbols (Total): 8500
Pepperstone
4.5/5 Stars Overall
  • Minimum Deposit: $0
  • Trust Score: 95
  • Tradeable Symbols (Total): 1726

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 logoInteractive Brokers
Pepperstone logoPepperstone
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 logoInteractive Brokers
Pepperstone logoPepperstone
Minimum Deposit info $0 $0
Average Spread EUR/USD - Standard info 0.59 info 1.00 info
All-in Cost EUR/USD - Active info 0.65 info 0.70 info
Non-wire bank transfer info Yes Yes
PayPal (Deposit/Withdraw) info No Yes
Skrill (Deposit/Withdraw) info No Yes
Bank Wire (Deposit/Withdraw) info Yes Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

Interactive Brokers and Pepperstone both offer forex trading (as CFDs or spot), but their product lineups differ widely. Interactive Brokers provides a larger selection with about 8,500 tradeable symbols and 90 currency pairs, along with access to exchange-traded stocks on U.S. and international markets. Pepperstone lists roughly 1,726 symbols and 65 currency pairs and does not offer direct stock ownership. Both brokers offer cryptocurrency derivatives, but only Interactive Brokers lets you buy actual cryptocurrency. Another difference: Pepperstone supports copy trading, while Interactive Brokers does not.

For range of investments, Interactive Brokers earns 5 stars and ranks #1 out of 63 brokers at ForexBrokers.com, whereas Pepperstone earns 4 stars and ranks #27. If you want the widest selection, including global stocks and actual crypto, Interactive Brokers is the stronger fit. If you prefer CFD trading and want copy trading tools, Pepperstone is a good alternative.

Feature Interactive Brokers logoInteractive Brokers
Pepperstone logoPepperstone
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 8500 1726
Forex Pairs (Total) info 90 65
U.S. Stock Trading (Non CFD) info Yes No
Int'l Stock Trading (Non CFD) info Yes No
Social Trading / Copy Trading info No Yes
Cryptocurrency (Underlying) info Yes No
Cryptocurrency (Derivative) 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 and Pepperstone both check key boxes for traders: each offers a free paper trading (demo) account, a proprietary platform, Windows desktop software, a web-based platform, and the ability to place trades directly from charts. The main split comes down to add-ons and ecosystem. Pepperstone supports copy trading and offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Interactive Brokers does not. If you want MT4/MT5 or plan to mirror other traders, Pepperstone is the better fit; if those features aren’t essential, both brokers cover the core platform needs for everyday trading.

In independent testing by ForexBrokers.com, Interactive Brokers scores higher for Trading Platforms and Tools with a 5-star rating and a #3 ranking out of 63 brokers, while Pepperstone earns 4 stars and ranks #22. In short, choose Interactive Brokers if you want a top-rated in-house platform suite with paper trading on desktop and web, or go with Pepperstone if MetaTrader and copy trading are priorities alongside its own platform.

Feature Interactive Brokers logoInteractive Brokers
Pepperstone logoPepperstone
Virtual Trading (Demo) info Yes Yes
Proprietary Desktop Trading Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / 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 offer well-equipped mobile trading apps for iPhone and Android. Each app supports real-time watchlists, price alerts, and watchlist syncing so changes carry over between mobile and your online account.

For charting, Interactive Brokers provides more built-in technical studies (97 vs. Pepperstone’s 30), and both apps let you draw trendlines. One key difference: Pepperstone auto-saves chart drawings, while Interactive Brokers does not. In independent testing by ForexBrokers.com, Interactive Brokers earned 5 stars and ranked #4 out of 63 brokers for Mobile Trading Apps, while Pepperstone received 4 stars and ranked #21. If you want a wider set of indicators, Interactive Brokers stands out; if auto-saving drawings is important, Pepperstone has the edge.

Feature Interactive Brokers logoInteractive Brokers
Pepperstone logoPepperstone
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
Mobile Watchlist info Yes 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 logoInteractive Brokers
Pepperstone logoPepperstone
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No Yes
Trading Central (Recognia) info Yes No
Client sentiment data info Yes Yes
TipRanks info Yes No
Signal Centre (Acuity Trading) info Yes No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

Interactive Brokers and Pepperstone both support beginners with clear, frequent learning options. Each broker runs client webinars at least once a month and offers at least 10 beginner videos, plus 10 or more advanced videos when you’re ready to go deeper. Details weren’t confirmed on whether either broker provides 10+ forex- or CFD‑specific lessons, a searchable library of past webinars, or a large investor dictionary with 50+ terms.

For overall education quality, Interactive Brokers takes the lead with a 5‑star rating and a #3 ranking out of 63 brokers at ForexBrokers.com. Pepperstone still scores well with 4.5 stars and a #17 ranking. If you want the highest‑rated all‑around learning experience, choose Interactive Brokers; if you value practical videos and steady webinars, Pepperstone remains a strong pick for getting started.

Feature Interactive Brokers logoInteractive Brokers
Pepperstone logoPepperstone
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 logoInteractive Brokers
Pepperstone logoPepperstone
Overall Rating info 5/5 Stars 4.5/5 Stars
Trust Score info 99 95
Range of Investments 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4.5/5 Stars
Platforms & Tools 5/5 Stars 4/5 Stars
Research 5/5 Stars 4.5/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Education 5/5 Stars 4/5 Stars

FAQs

Can you trade cryptocurrency with Interactive Brokers or Pepperstone?

Interactive Brokers and Pepperstone both offer cryptocurrency derivatives, but only Interactive Brokers provides the ability to purchase actual delivered cryptocurrency.

What funding options does each broker offer?

Interactive Brokers vs Pepperstone: both online brokers support ACH/SEPA and bank wire transfers, Pepperstone additionally offers PayPal and Skrill while Interactive Brokers does not, and Visa/Mastercard availability is not specified for either broker.

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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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Overall Rating Interactive Brokers Pepperstone
Overall Rating info 5/5 Stars 4.5/5 Stars
Commissions & Fees 5/5 Stars 4.5/5 Stars
Range of Investments 5/5 Stars 4/5 Stars
Platforms & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 5/5 Stars 4/5 Stars
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
IBKR mobile watchlist. IBKR Desktop platform charts. Interactive Brokers research Traders Insight daily analysis article detail Interactive Brokers IBKR Podcast video.
Pepperstone cTrader mobile watchlist Pepperstone TradingView platform web. Pepperstone research The Daily Fix analysis articles. Pepperstone educational learning center.
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 (SFC 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. Stock Trading (Non CFD) info Yes No
Int'l Stock Trading (Non CFD) info Yes No
Social Trading / Copy Trading info No Yes
Cryptocurrency (Underlying) info Yes No
Cryptocurrency (Derivative) 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 info 0.59 info 1.00 info
All-in Cost EUR/USD - Active info 0.65 info 0.70 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 Yes
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
Social Trading / 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 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
Mobile Research - Economic Calendar info Yes Yes
Research Interactive Brokers Pepperstone
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No Yes
Trading Central (Recognia) 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 info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD [DELETED] info
Review Interactive Brokers Review Pepperstone Review
Overall Interactive Brokers Pepperstone
Overall Rating info 5/5 Stars 4.5/5 Stars
Commissions & Fees 5/5 Stars 4.5/5 Stars
Range of Investments 5/5 Stars 4/5 Stars
Platforms & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 5/5 Stars 4/5 Stars
Trust Score info 99 95
Winner check_circle
Review Interactive Brokers Review Pepperstone Review
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