Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs IronFX, 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 and IronFX, both established in 2010, are online brokers that offer similar regulatory standings but differ in trust scores and license holdings. Both privately held and not listed on any stock exchange, neither broker is operated as a bank. In terms of Trust Scores provided by ForexBrokers.com, Pepperstone stands out with a near-perfect score of 95, suggesting high levels of trust, while IronFX is rated at 83, marking it as a trusted broker, though slightly less trustworthy than Pepperstone.
When comparing their regulatory licenses, Pepperstone holds three Tier-1 licenses and two Tier-2 licenses, highlighting its strong regulatory compliance. IronFX, on the other hand, holds three Tier-1 licenses but lacks any Tier-2 licenses. This difference in licensing underscores Pepperstone's broader regulatory coverage, which can be an important consideration for traders prioritizing security and trust in their online trading experience.
| Feature |
Pepperstone
|
IronFX
|
|---|---|---|
| Year Founded | 2010 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 3 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
Pepperstone stands out among online brokers for its competitive pricing for high-volume traders through its Razor account, earning a 4.5-star rating and a #10 rank in the commissions and fees category by ForexBrokers.com. The Razor account offers a commission-based structure, with an average spread for EUR/USD at 0.10 pips as of July 2024. Including a commission-equivalent of 0.70 pips, the total cost is an attractive 0.80 pips, aligning closely with industry averages. The broker also offers an Active Trader program that provides spread rebates based on trading volume, particularly beneficial for clients in the UK, EU, and Australia.
In contrast, Pepperstone's Standard account, while commission-free, is less appealing due to its higher average spread of 1.1 pips for EUR/USD. On the other hand, IronFX receives a 4-star rating and ranks at #46 for commissions and fees, indicating room for improvement with pricing perceived higher than the industry standard. Their Standard variable spread account lists a typical spread of 1.8 pips, and the zero fixed-spread account starts at zero pips but incurs a $18 per lot commission, with spreads widening to 3 pips overnight.
Overall, Pepperstone offers a more cost-effective option for frequent traders thanks to its Razor account and rebate programs, while IronFX may not be as competitive in the current market, particularly for clients seeking lower trading costs.
| Feature |
Pepperstone
|
IronFX
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 1.00 | 1.2 |
| All-in Cost EUR/USD - Active | 0.70 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| 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 IronFX both offer forex trading as contracts for difference (CFDs) or spot contracts, catering to forex enthusiasts looking to capitalize on market shifts. While Pepperstone boasts an impressive 1,726 tradeable symbols, IronFX provides a more limited array with 340 symbols. Although IronFX slightly edges out Pepperstone by offering 83 forex pairs compared to Pepperstone's 65, when considering the sheer variety of tradeable symbols, Pepperstone offers a broader spectrum of investment choices.
Neither Pepperstone nor IronFX offers direct access to exchange-traded securities in the U.S. or international markets, such as Apple or Vodafone shares. However, both brokers cater to modern investment trends by providing cryptocurrency derivatives, though not the actual digital currencies themselves. Additionally, both platforms support copy trading, enhancing their appeal to both novice and experienced traders. Ranked by ForexBrokers.com, Pepperstone stands at #26 with a 4-star rating for its range of investments, while IronFX is positioned at #51 with 3.5 stars, reflecting a narrower selection relative to industry peers.
| Feature |
Pepperstone
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 340 |
| Forex Pairs (Total) | 65 | 83 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| 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.
Pepperstone and IronFX both offer traders comprehensive online trading experiences with a variety of tools and platforms. Both brokers provide users with a free virtual demo account, Windows-based desktop platforms, and web-based trading options. For traders interested in the popular MetaTrader software, both platforms support MetaTrader 4 (MT4), but only Pepperstone offers MetaTrader 5 (MT5). A key difference is Pepperstone's proprietary platform, developed in-house, which adds a unique feature not found in IronFX, which relies on third-party platforms.
For copy trading enthusiasts, both brokers facilitate such activities, although Pepperstone goes further by offering DupliTrade, unavailable at IronFX. When it comes to charting tools, Pepperstone surpasses IronFX with 30 drawing tools compared to just 15. Both brokers allow trading directly from stock charts and offer well-structured watch lists with seven columns. In terms of overall platform and tools ranking, Pepperstone scores slightly higher with four stars and holds the 22nd position out of 63 brokers, while IronFX earns 3.5 stars and sits at the 61st spot, reflecting a more limited offering.
| Feature |
Pepperstone
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 30 |
| Charting - Drawing Tools (Total) | 30 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Pepperstone and IronFX offer comprehensive apps for both iPhone and Android users, providing essential tools for stock and forex trading. Both platforms feature stock or forex price alerts and a set of 30 technical studies within their mobile charting experience. Traders will appreciate the capability to draw trendlines and view multiple time frames, such as daily or weekly, directly on the app. Furthermore, both apps support the creation of watchlists with real-time quotes and the auto-saving of chart drawings, which keeps your strategies intact for future reference.
However, Pepperstone stands out with its exclusive feature of watchlist symbol syncing, allowing for seamless updates between the mobile app and the client's online account. This means any changes made in one location are automatically reflected in the other, a convenience absent from the IronFX app. These differences could partly explain why Pepperstone boasts a higher customer rating for its mobile trading app, with 4 stars compared to IronFX's 3.5 stars. Additionally, Pepperstone is ranked #21 by ForexBrokers.com in the Mobile Trading Apps category, significantly higher than IronFX, which sits at #62. This suggests that Pepperstone might offer a slightly more streamlined and integrated mobile trading experience.
| Feature |
Pepperstone
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Pepperstone and IronFX both provide daily market commentary and access to top-tier forex news from sources like Bloomberg and Reuters, keeping traders informed with the latest market insights. However, Pepperstone sets itself apart with additional features like the Autochartist technical analysis tool and a sentiment-based trading tool that reveals the ratio of long and short positions across various instruments. While both brokers offer an economic calendar for global news events, only IronFX includes tools from Trading Central, offering another layer of market analysis capabilities.
In terms of overall research quality, Pepperstone shines with a rating of 4.5 out of 5 stars, ranking 12th out of 63 brokers on ForexBrokers.com. IronFX, on the other hand, is rated slightly lower at 4 stars, holding the 28th position. Although both brokers provide solid research resources, Pepperstone's higher rank and additional tools give it an edge for traders who value comprehensive and diversified market analysis. However, IronFX offers distinctive features from Trading Central that may appeal to traders seeking that specific type of technical analysis.
| Feature |
Pepperstone
|
IronFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources for beginners between Pepperstone and IronFX, both brokers offer rich learning materials, but there are some key differences. Pepperstone provides a more comprehensive offering by conducting monthly online webinars and granting access to a searchable archive of these sessions. This setup helps users stay updated with the latest trading techniques and market trends. Both brokers supply over ten beginner educational videos, but only Pepperstone extends this to include advanced trading topics for experienced traders. Additionally, both platforms feature at least 10 educational pieces and boast an investor dictionary with more than 50 terms, which is helpful for those new to investing.
Pepperstone is recognized for its broader educational activities, with a 4.5-star rating, placing it at number 17 out of 63 brokers in the ForexBrokers.com rankings. IronFX, while offering a solid foundation for beginners, scores slightly lower at 4 stars, ranking it at position 44. For those interested in continuous learning and access to advanced trading strategies, Pepperstone has a slight edge, thanks to its all-encompassing educational suite and monthly webinars that offer fresh insights to eager and experienced traders alike.
| Feature |
Pepperstone
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
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 IronFX. Pepperstone finished with an overall rank of #16, while IronFX finished with an overall rank of #48.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
|
IronFX
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 95 | 83 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both Pepperstone and IronFX provide the ability to trade cryptocurrency derivatives, but neither offers the option to buy actual delivered cryptocurrency.
When comparing Pepperstone and IronFX for financial transactions, Pepperstone provides a more versatile range of deposit and withdrawal methods by supporting ACH, SEPA transfers, and PayPal, alongside shared options of Skrill, Visa, Mastercard, and bank wires, whereas IronFX lacks ACH, SEPA, and PayPal options.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Pepperstone | IronFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 95 | 83 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
| Broker Screenshots | Pepperstone | IronFX | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
| ||
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
| ||
| Education Gallery (click to expand) |
|
| Regulation | Pepperstone | IronFX | |
|---|---|---|---|
| Trust Score | 95 | 83 | |
| Year Founded | 2010 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 3 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | IronFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| 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 | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 340 | |
| Forex Pairs (Total) | 65 | 83 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| 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 | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.70 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | IronFX | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| 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 | IronFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | IronFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Drawing Tools (Total) | 30 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | IronFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Pepperstone | IronFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Pepperstone | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 95 | 83 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill