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.
OANDA, established in 1996, and Pepperstone, founded in 2010, are both prominent online brokers with strong trust ratings. OANDA boasts a Trust Score of 93 out of 99, while Pepperstone slightly surpasses it with a score of 95, according to ForexBrokers.com. Neither OANDA nor Pepperstone are publicly traded or operate as banks. When assessing regulatory standing, OANDA holds seven Tier-1 licenses, reflecting its high trust level. Meanwhile, Pepperstone possesses three Tier-1 licenses, along with two Tier-2 licenses, indicating a strong and reputable regulatory framework as well.
Both OANDA and Pepperstone are recognized for their commitment to client security, with their Trust Scores placing them in the highly trusted category. Their solid regulatory licenses enhance confidence among investors looking for dependable trading environments. Whether you choose OANDA for its longer market presence and greater number of top-tier licenses or Pepperstone for its slightly higher Trust Score, both brokers offer secure options for online trading.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Year Founded | 1996 | 2010 |
| Publicly Traded (Listed) | ||
| Bank | ||
| Tier-1 Licenses | 7 | 3 |
| Tier-2 Licenses | 0 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
When comparing online brokers OANDA and Pepperstone, it's clear that there are distinct differences in their commissions and fee structures. OANDA, although not positioned as a discount broker, offers automated execution with somewhat high trading costs, reflected in its effective spreads. For forex trading, its default pricing features an average spread of 1.61 pips on EUR/USD, a bit higher than competitors like FOREX.com and FxPro. OANDA's core pricing offers reduced spreads at a commission of $5 per $100,000 traded, resulting in a slightly better all-in cost than commission-free pricing. The minimum trade size at OANDA is notably low, at just one unit or 0.001 micro lot. OANDA's Elite Trader program provides rebates and other perks for high-volume traders.
Pepperstone's fee structure is more attractive, especially for high-volume traders using its Razor account. This account features highly competitive pricing with an average spread of 0.10 pips for EUR/USD, leading to an all-in cost of 0.80 pips when adding the commission-equivalent. In contrast, its Standard account, although commission-free, offers less competitive spreads averaging 1.1 pips on EUR/USD. Pepperstone provides additional benefits through its Active Trader program, which includes rebates and potential spread reductions for clients trading substantial volumes monthly.
Despite OANDA receiving a commendable rating of 4 stars out of 5 for its commissions and fees, it ranks #34 out of 63 brokers in this category on ForexBrokers.com. In comparison, Pepperstone excels with a higher rating of 4.5 stars and ranks #10, underscoring its favorable commission and fee structures. Both brokers have tailor-made solutions for different trading needs, but Pepperstone emerges as the more cost-effective option for those trading in higher volumes.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.61 | 1.00 |
| All-in Cost EUR/USD - Active | 1.61 | 0.70 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments offered by OANDA and Pepperstone, both platforms provide opportunities for forex trading as CFDs or spot contracts. OANDA distinguishes itself with a substantial selection of 3,928 tradeable symbols, including 68 forex pairs, compared to Pepperstone's 1,726 tradeable symbols and 65 forex pairs. While both brokers offer copy trading capabilities, OANDA further stands out by allowing the purchase of actual cryptocurrencies, a feature not available with Pepperstone. For those interested in cryptocurrency derivatives, both OANDA and Pepperstone offer options, but neither offers the purchase of exchange-traded securities on U.S. or international exchanges.
Despite the differences in features and offerings, OANDA and Pepperstone receive the same four-star rating for their range of investments, according to ForexBrokers.com. In rankings among 63 brokers, Pepperstone slightly edges out OANDA, coming in at 26th place compared to OANDA's 27th. This close ranking suggests that both platforms offer competitive investment opportunities, though individual preferences and investment needs may tilt the choice in favor of one broker over the other.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 1726 |
| Forex Pairs (Total) | 68 | 65 |
| U.S. Stock Trading (Non CFD) | ||
| Int'l Stock Trading (Non CFD) | ||
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | |
| 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.
OANDA and Pepperstone both offer comprehensive trading platforms and tools to cater to both new and experienced traders. Both brokers provide free virtual demo accounts, allowing users to practice trading without financial risk. They also host their own proprietary platforms alongside popular options like MetaTrader 4 and MetaTrader 5. For those who prefer flexibility, both OANDA and Pepperstone offer web-based trading and Windows-based desktop downloads, alongside the capability for copy trading. While Pepperstone includes DupliTrade as part of its offerings, OANDA does not provide this feature. Neither broker supports ZuluTrade.
Charting capabilities reveal some differences between OANDA and Pepperstone. OANDA impresses with a substantial offering of 431 drawing tools for charting, compared to Pepperstone's selection of 30. When it comes to watch list customization, Pepperstone provides a minor edge with seven column options, against OANDA’s six. Despite these variations, both platforms allow for direct trading from stock charts. Reflecting their overall performance, both OANDA and Pepperstone are rated four stars for their trading platforms and tools. However, OANDA holds a slightly higher industry ranking at 15th, while Pepperstone is positioned at 22nd, among 63 brokers assessed by ForexBrokers.com.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | Yes | |
| ZuluTrade | ||
| Charting - Indicators / Studies (Total) | 81 | 15 |
| Charting - Drawing Tools (Total) | 431 | 30 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both OANDA and Pepperstone offer strong tools for forex and stock traders on the go. Available on both iPhone and Android, each app provides essential features such as price alerts and the ability to draw trendlines. Users can enjoy viewing multiple time frames and creating watchlists with real-time quotes. One notable difference is watchlist syncing, where Pepperstone allows for seamless synchronization between the mobile app and your online account. Both platforms offer 30 technical studies for charting, ensuring traders have ample data at their fingertips. Additionally, any drawings made on charts will be automatically saved on both platforms, enhancing the user experience.
Despite the many similarities, OANDA holds a higher user rating of five stars compared to Pepperstone's four stars, reflecting greater user satisfaction. Moreover, OANDA ranks #7 in the Mobile Trading Apps category according to ForexBrokers.com, while Pepperstone is positioned at #21. These rankings and ratings suggest that while both apps are powerful tools for traders, OANDA users might find a slightly more polished experience. Overall, both apps are excellent choices, but OANDA seems to edge ahead in terms of user approval and industry recognition.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | |
| 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.
OANDA and Pepperstone both provide extensive market research resources for online traders. Each broker offers daily market commentary and access to forex news from renowned sources such as Bloomberg, Reuters, and Dow Jones. Additionally, they both feature technical analysis and research tools from Autochartist, alongside sentiment-based trading tools that reveal long or short position ratios across currency pairs. Both brokers ensure traders stay informed with their economic calendars, highlighting significant global economic events. However, OANDA stands out with a five-star rating for research from ForexBrokers.com and ranks fifth out of 63 brokers. In contrast, Pepperstone holds a 4.5-star rating and ranks 12th.
Despite their similarities in offerings, OANDA's slightly higher rating and ranking indicate a slight edge in market research resources over Pepperstone. Both brokers provide similar essential services for experienced and novice traders alike, but OANDA’s overall research capabilities may offer a more comprehensive experience. Whether utilizing their detailed market news or advanced analysis tools, both brokers equip traders with the information needed to make informed trading decisions. However, OANDA’s higher research rating might appeal to those seeking the most refined data and analytics.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | ||
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | ||
| Signal Centre (Acuity Trading) | ||
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both OANDA and Pepperstone shine as online brokers. They each offer a minimum of 10 educational pieces, including articles and videos, covering essential forex and CFD topics. Beginners can benefit from the wealth of knowledge provided by both platforms through their monthly online educational webinars. In addition, each broker maintains an accessible archive of past webinars, ensuring that learners can revisit sessions at their convenience. With both brokers providing at least 10 beginner-focused videos, newcomers to trading can gain insights tailored specifically for them.
Beyond beginner materials, OANDA and Pepperstone cater to more experienced traders by offering at least 10 advanced educational videos. An investor dictionary with over 50 terms is also available with both, supporting traders in building a solid foundation of knowledge. While both platforms receive high marks for education, OANDA edges slightly ahead with a 5-star rating, compared to Pepperstone's 4.5 stars. However, in terms of ranking among 63 brokers for education, Pepperstone holds a slightly higher position at #17, compared to OANDA's #22 ranking. Overall, both platforms provide a comprehensive education suite, making them excellent choices for traders at all levels.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 OANDA is better than Pepperstone. OANDA finished with an overall rank of #12, while Pepperstone finished with an overall rank of #16.
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 | 93 | 95 |
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While both OANDA and Pepperstone offer the ability to buy cryptocurrency derivatives, OANDA also provides the option to purchase actual, delivered cryptocurrency, whereas Pepperstone does not offer this feature.
Both OANDA and Pepperstone provide a comprehensive range of deposit and withdrawal options, including ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, ensuring flexible and convenient transaction methods for their users.
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 | 93 | 95 | |
| Winner | check_circle | ||
| Review | OANDA Review | Pepperstone Review |
| Broker Screenshots | OANDA | Pepperstone | |
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| Regulation | OANDA | Pepperstone | |
|---|---|---|---|
| Trust Score | 93 | 95 | |
| Year Founded | 1996 | 2010 | |
| Publicly Traded (Listed) | |||
| Bank | |||
| 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 | ||
| Hong Kong (SFC Authorised) | |||
| Japan (SFC Authorised) | Yes | ||
| Singapore (MAS Authorised) | Yes | ||
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | ||
| New Zealand (FMA Authorised) | |||
| 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) | |||
| South Africa (FSCA Authorised) | |||
| UAE (DFSA/Central Bank Authorised) | Yes | ||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| Investments | OANDA | Pepperstone | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 1726 | |
| Forex Pairs (Total) | 68 | 65 | |
| U.S. Stock Trading (Non CFD) | |||
| Int'l Stock Trading (Non CFD) | |||
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | ||
| 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 | OANDA | Pepperstone | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | 1.00 | |
| All-in Cost EUR/USD - Active | 1.61 | 0.70 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | ||
| Execution: Agency Broker | Yes | ||
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | Pepperstone | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | OANDA | Pepperstone | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | ||
| DupliTrade | Yes | ||
| ZuluTrade |
| Trading Tools | OANDA | Pepperstone | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 81 | 15 | |
| Charting - Drawing Tools (Total) | 431 | 30 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | ||
| 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 | OANDA | Pepperstone | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | |||
| TipRanks | |||
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | Pepperstone | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | OANDA | Pepperstone | |
|---|---|---|---|
| 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 | OANDA Review | Pepperstone Review |
| Overall | OANDA | Pepperstone | |
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| Trust Score | 93 | 95 | |
| Winner | check_circle | ||
| Review | OANDA Review | Pepperstone Review |
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