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 and IronFX are two online brokers with distinct approaches to commissions and fees. Pepperstone is highly rated with 4.5 stars, placing 10th out of 62 brokers in the commissions and fees category according to ForexBrokers.com. With competitive pricing, Pepperstone’s Razor account offers an average spread of 0.10 pips on the EUR/USD pair, though when adding the commission equivalent of 0.70 pips, the all-in cost is 0.80 pips. This makes it an attractive option for high-volume traders, especially those in the Active Trader program who can receive rebates based on their trading volume.
In contrast, IronFX, which receives 4 stars and ranks 47th, typically lists spreads higher than the industry average. IronFX’s Standard variable spread account shows a typical spread of 1.8 pips, though this may vary by account type. Their zero fixed-spread account begins with a spread of zero pips but takes a commission of $18 per lot, and spreads increase to 3 pips overnight. These costs highlight a tangible difference compared to Pepperstone’s offerings, making IronFX less appealing for traders focused on minimizing fees.
For traders focused on value and fee structure, Pepperstone's Razor account stands out, especially when leveraging their Active Trader program, which provides rebates and reduces costs further. On the other hand, those considering IronFX should be prepared for potentially higher fees, with spreads that often exceed common industry rates. Both brokers cater to different trading needs, but Pepperstone’s fee structure appears more advantageous for the cost-conscious trader.
| 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 cater to forex traders by offering forex trading as either a CFD or spot contract. Pepperstone stands out with a more extensive selection, providing a total of 1,726 tradeable symbols compared to IronFX's 340. However, when focusing on forex pairs, IronFX offers a slightly larger variety with 83 pairs against Pepperstone's 65. Investors looking to delve into exchange-traded securities might be disappointed as neither platform provides access to U.S. or international securities beyond CFDs on these assets.
Both brokers embrace the growing popularity of cryptocurrency trading by providing access to cryptocurrency derivatives, although they do not offer actual ownership of cryptocurrencies. Additionally, both platforms support copy trading, allowing users to emulate strategies from other traders. In terms of ratings, Pepperstone earns 4 stars for its range of investments, while IronFX garners a rating of 3.5 stars. Based on rankings by ForexBrokers.com, Pepperstone is placed at #26 out of 62 brokers for its investment range, whereas IronFX is positioned at #51, indicating a broader variety offered by Pepperstone.
| 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 provide access to a range of trading platforms and tools, offering numerous functionalities that cater to the needs of traders. Both brokers offer simulated trading with free virtual demo accounts, letting newcomers and experienced traders alike practice their strategies without financial risks. While Pepperstone includes a proprietary platform developed in-house, IronFX relies solely on popular third-party platforms. Both brokers feature Windows-based desktop downloads and web-based trading options, which ensure accessibility and convenience across devices.
In terms of advanced trading capabilities, Pepperstone offers both the MetaTrader 4 and MetaTrader 5 platforms, while IronFX provides only MetaTrader 4. Pepperstone also supports copy trading through DupliTrade and includes the option to trade directly from stock charts, features which enhance its platform functionality. Charting tools further differentiate the two brokers, as Pepperstone offers 30 drawing tools compared to IronFX's 15. Both allow for customized watch lists, offering up to seven columns. Ultimately, Pepperstone receives a higher ranking and star rating for their trading platforms and tools, ranking #22 out of 62 brokers, whereas IronFX is positioned at #60.
| 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.
When comparing the mobile trading apps of Pepperstone and IronFX, both brokers provide apps for iPhone and Android users, allowing a broad range of traders to access their platforms on the go. Both apps feature price alerts for stocks and forex, offer 30 technical studies for charting, enable trendline drawing, and allow traders to view multiple time frames on charts. Additionally, both brokers' apps auto-save any drawings and offer the capability to create watchlists with real-time quotes. However, Pepperstone has an edge with its watchlist symbol syncing feature, allowing seamless integration between the mobile app and the client’s online account, a convenience not offered by IronFX.
In terms of ratings, Pepperstone stands slightly ahead with a four-star rating for its mobile app, compared to IronFX's 3.5 stars. This difference is mirrored in their rankings on ForexBrokers.com, where Pepperstone is positioned at #21 out of 62 brokers, while IronFX is further down the list at #61. These distinctions suggest a more favorable user experience with the Pepperstone mobile app, making it a preferred choice for traders seeking a well-rounded and cohesive trading platform on their mobile devices.
| 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 solid market research features, including daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. Both brokers also offer an economic calendar to keep traders informed of global news events. However, a notable difference lies in the tools they provide: Pepperstone offers tools from Autochartist and a sentiment-based trading tool, which IronFX lacks. IronFX, on the other hand, provides technical analysis tools from Trading Central, but Pepperstone does not.
When it comes to overall research quality, Pepperstone holds a slight edge with a rating of 4.5 stars compared to IronFX's 4 stars. In a ranking of 62 brokers by ForexBrokers.com, Pepperstone is positioned at #12 for research capabilities, indicating a stronger presence compared to IronFX, which ranks at #28. Both brokers share the absence of resources from TipRanks and Acuity Trading, highlighting their focus on more direct market analysis and commentary instead.
| 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.
Pepperstone stands out in providing comprehensive educational resources for beginner traders. It offers a rich variety of more than ten educational pieces, including articles, videos, and webinars focusing on forex and CFDs. Additionally, Pepperstone hosts monthly online educational webinars exclusively for clients and maintains a searchable archive of previously-recorded sessions, allowing new traders to learn at their own pace. Furthermore, beginners have access to at least ten educational videos specifically tailored to their level, and advanced traders can benefit from high-level videos designed for experienced traders. The availability of an investor dictionary with over 50 investing terms further supports its strong educational offering. Rated at 4.5 stars, Pepperstone is ranked 17th out of 62 brokers in the Education category by ForexBrokers.com.
IronFX also invests in educating beginner traders, offering over ten educational resources centered around forex and CFDs. However, it falls short in providing live educational webinars, a feature pursued by those seeking real-time learning opportunities. A searchable archive of past webinars is available, ensuring some flexibility for self-paced learning. IronFX meets the needs of beginner traders by offering at least ten videos designed for them but does not extend its advanced educational video series for seasoned traders. Like Pepperstone, IronFX includes an investor dictionary with definitions of over 50 investing terms, solidifying its foundational educational support. With a rating of 4 stars, IronFX is ranked 44th by ForexBrokers.com for its educational offerings.
| 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 62 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 |
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| Trust Score | 95 | 83 |
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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.
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0 of 5| Overall Rating | Pepperstone | IronFX | |
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| Trust Score | 95 | 83 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
| Broker Screenshots | Pepperstone | IronFX | |
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| 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 | |
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| Trust Score | 95 | 83 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
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