Written by ForexBrokers.com
In this head to head comparison of OANDA vs Pepperstone, 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.
Comparing online brokers OANDA and Pepperstone: OANDA was founded in 1996, while Pepperstone began in 2010. Neither company is publicly traded or a bank. According to ForexBrokers.com, Pepperstone holds a Trust Score of 94/99 and OANDA scores 92/99—both fall in the highly trusted range (90–99).
Regulatory coverage differs: OANDA holds 7 Tier-1 licenses (considered highly trusted by ForexBrokers.com), while Pepperstone holds 3 Tier-1 licenses. Pepperstone also has 2 Tier-2 licenses (considered trusted), whereas OANDA has none. These license totals show where each broker is authorized and supervised by leading regulators.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Year Founded | 1996 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 3 |
| Tier-2 Licenses | 0 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
When it comes to commissions and fees, Pepperstone is the lower-cost choice for most active forex traders. Its Razor account offers tight spreads and, even after commissions are added in, the all-in cost on EUR/USD is around 0.80 pips. Pepperstone also gives high-volume traders access to its Active Trader program, which can lower costs even more. It earns a 5-star rating and ranks #5 out of 36 brokers for commissions and fees.
OANDA’s trading costs are generally higher than Pepperstone’s, especially on its standard pricing. For example, OANDA’s non-core EUR/USD spread was 1.61 pips in July 2024. Its core pricing can be cheaper, but it requires a $10,000 minimum deposit and still includes a commission of $5 per $100,000 traded per side. OANDA does offer very small trade sizes, automated execution, and rebates for active traders in some regions. It is rated 4 stars and ranks #32 out of 36 brokers for commissions and fees.
In simple terms, Pepperstone is usually the better pick if your main goal is to keep trading costs down, while OANDA may appeal more to traders who value its account features and small trade sizes. Both brokers can offer lower costs for frequent traders, but Pepperstone has the stronger edge on pricing overall.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Minimum Deposit | $0 | $10 |
| Average spread (EUR/USD) - Spread-only account | 1.68 | 1.1 |
| All-in Cost EUR/USD - Raw spread account | N/A | 0.8 |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to range of investments, OANDA has the edge over Pepperstone. Both brokers let you trade forex as CFDs or spot contracts, and both offer copy trading plus access to both actual cryptocurrency and crypto CFDs. OANDA also lists more tradeable symbols overall, with 4,172 compared with Pepperstone’s 2,631, and slightly more forex pairs, at 68 versus 65.
The biggest difference is that OANDA also offers exchange-traded securities on both U.S. and international exchanges, so clients can buy real shares such as Apple or Vodafone. Pepperstone does not offer these exchange-traded stocks. Based on this wider product list, OANDA is rated 4.5 out of 5 for Range of Investments and ranks #20 out of 36 brokers, while Pepperstone scores 4 out of 5 and ranks #23.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 2631 |
| Forex Pairs (Total) | 68 | 65 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | Yes | Yes |
| Cryptocurrency (CFDs) | 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.
OANDA and Pepperstone both give traders a wide set of platform choices, making either broker a solid fit for beginners and more active traders. Each offers a free demo account for paper trading, plus both their own in-house platform and the popular MetaTrader 4 and MetaTrader 5 options. You can also use either broker on desktop, in a web browser, or through copy trading tools, and both let you place trades directly from a chart.
When it comes to trading platforms and tools, OANDA and Pepperstone are closely matched, and each earns 4 out of 5 stars from ForexBrokers.com. OANDA is ranked #16 out of 36 brokers in this category, while Pepperstone sits at #21, giving OANDA a slight edge overall. If you want a broker with flexible platform access and useful chart-based trading features, both are competitive choices.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 82 | 90 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
OANDA and Pepperstone both make it easy to trade on the go, with iPhone and Android apps, plus price alerts for stocks and forex. Each app also lets users draw trendlines and automatically saves those drawings, which is helpful for tracking chart ideas across sessions. Where the two differ is in watchlist syncing: Pepperstone syncs watchlists between the mobile app and online account, while OANDA does not.
For charting tools, OANDA offers 33 technical studies in its mobile app, slightly more than Pepperstone’s 30. That edge shows up in ratings too: OANDA earns 5 out of 5 stars for mobile trading apps and ranks #7 out of 36 brokers at ForexBrokers.com, while Pepperstone is rated 4 out of 5 stars and ranks #19. Overall, both brokers provide solid mobile trading access, but OANDA has the stronger app rating and a small charting advantage, while Pepperstone stands out for watchlist syncing.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 33 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
OANDA and Pepperstone both give traders useful market research basics, including daily market commentary, news from major sources like Reuters and Bloomberg, sentiment tools, and an economic calendar with global events. Each platform also helps users stay informed with up-to-date coverage that can support trading decisions. Where OANDA stands out is in its extra research options: it offers Autochartist and Acuity Trading tools, while Pepperstone does not provide those features.
That difference shows up in third-party ratings too. OANDA earns 5 stars for Research and ranks #4 out of 36 brokers at ForexBrokers.com, while Pepperstone receives 4.5 stars and ranks #13. In short, both brokers offer solid market research, but OANDA provides a wider range of tools and a stronger overall research rating.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | No | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing OANDA and Pepperstone for beginner education, both brokers give new traders plenty to work with. Each offers forex and CFD learning content with at least 10 educational pieces, plus online client webinars held at least once a month. They also both provide at least 10 beginner videos and at least 10 advanced videos, so traders can start with the basics and keep learning as their skills grow.
In terms of ratings, OANDA has the edge with a 5-star Education score, while Pepperstone is close behind at 4.5 stars. That said, Pepperstone places slightly higher in ForexBrokers.com’s Education ranking, coming in at #15 out of 36 brokers compared with OANDA at #18. For beginners, both are solid choices, but OANDA stands out a little more for education quality, while Pepperstone shows a slightly stronger overall rank.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that OANDA is better than Pepperstone. OANDA finished with an overall rank of #14, while Pepperstone finished with an overall rank of #17.
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
| Feature |
OANDA
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Pepperstone
|
|---|---|---|
| Overall Rating |
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| Trust Score | 92 | 94 |
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When comparing OANDA vs Pepperstone, both online brokers let traders buy actual delivered cryptocurrency as well as trade cryptocurrency CFDs, making each platform suitable for clients who want access to both spot crypto purchasing and leveraged crypto trading.
When comparing OANDA vs Pepperstone for funding and withdrawals, both brokers support ACH/SEPA transfers, Skrill, and bank wires, but Pepperstone also offers PayPal while OANDA does not.
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 | OANDA | Pepperstone | |
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| Trust Score | 92 | 94 | |
| Winner | check_circle | ||
| Review | OANDA Review | Pepperstone Review |
| Broker Screenshots | OANDA | Pepperstone | |
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| Regulation | OANDA | Pepperstone | |
|---|---|---|---|
| Trust Score | 92 | 94 | |
| Year Founded | 1996 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 3 | |
| Tier-2 Licenses | 0 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | OANDA | Pepperstone | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | OANDA | Pepperstone | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | OANDA | Pepperstone | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4172 | 2631 | |
| Forex Pairs (Total) | 68 | 65 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | Yes | Yes | |
| Cryptocurrency (CFDs) | 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 | OANDA | Pepperstone | |
|---|---|---|---|
| Average spread (EUR/USD) - Spread-only account | 1.68 | 1.1 | |
| All-in Cost EUR/USD - Raw spread account | N/A | 0.8 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | OANDA | Pepperstone | |
|---|---|---|---|
| Minimum Deposit | $0 | $10 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | Yes |
| Trading Platforms | OANDA | Pepperstone | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | Yes |
| Trading Tools | OANDA | Pepperstone | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 82 | 90 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | Pepperstone | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlists - Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 33 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | OANDA | Pepperstone | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | Pepperstone | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | OANDA | Pepperstone | |
|---|---|---|---|
| EUR/USD | Yes | Yes | |
| Review | OANDA Review | Pepperstone Review |
| Overall | OANDA | Pepperstone | |
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| Trust Score | 92 | 94 | |
| Winner | check_circle | ||
| Review | OANDA Review | Pepperstone Review |
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