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.
When comparing online brokers OANDA and Pepperstone, both show strong regulatory credentials, though there are some differences. Established in 1996, OANDA is one of the older players in the field, and holds an impressive seven Tier-1 licenses, a testament to its highly trusted status in the financial world. Supported by a Trust Score of 93 according to ForexBrokers.com, OANDA is not publicly traded nor operates as a bank, which is similar to its competitor.
Pepperstone, founded in 2010, demonstrates its reliability with three Tier-1 licenses. Despite having fewer Tier-1 licenses than OANDA, Pepperstone balances this with two Tier-2 licenses, enhancing its reputation as a trusted broker. Pepperstone edges slightly ahead in overall trustworthiness with a ForexBrokers.com Trust Score of 95. Like OANDA, Pepperstone is neither publicly traded nor a bank, making both brokers comparable in terms of corporate structure.
| 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 |
If cost is your priority, Pepperstone generally edges out OANDA on commissions and fees. Pepperstone earns 4.5/5 stars and ranks #6 of 63 for Commissions and Fees at ForexBrokers.com, while OANDA holds 4/5 stars and ranks #30 of 63. The gap shows up most on EUR/USD, where Pepperstone’s Razor account typically delivers a lower all-in trading cost than OANDA’s default or even its Core pricing.
OANDA’s fees lean higher. In July 2024, its average EUR/USD spread was about 1.61 pips on the commission-free account. The Core option narrows the spread but adds a $5-per-side commission per $100,000 traded (about $10 per round turn) and requires a $10,000 minimum deposit. Using that month’s example, a 0.4-pip Core spread plus roughly 1.0 pip in commission puts the all-in cost near 1.4 pips—only slightly better than the standard pricing. OANDA does let you trade tiny sizes (down to 1 unit) and offers Elite Trader rebates of $5–$17 per million for active traders; it also publishes trailing average spreads for added pricing transparency.
Pepperstone’s Razor account uses commission-based pricing across TradingView, MT4/MT5, and cTrader. In July 2024, the average EUR/USD spread was 0.10 pips; add the commission-equivalent of about 0.70 pips and the all-in cost comes to roughly 0.80 pips. Its Standard account is commission-free but averaged around 1.1 pips on EUR/USD, making it pricier than Razor. Active Trader rebates can further cut costs for high-volume traders, with tiered programs in the UK/EU for professional clients (roughly 15%–25% spread rebates) and in Australia (about 10%–30% per-lot discounts depending on monthly volume).
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.68 | 1.1 |
| All-in Cost EUR/USD - Active | 1.69 | 0.8 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
In the OANDA vs Pepperstone comparison for range of markets, OANDA lists 4,172 tradeable symbols, far more than Pepperstone’s 1,726. OANDA also offers 69 forex pairs compared with Pepperstone’s 65, and both brokers let you trade forex via CFDs or spot contracts. Copy trading is available at both.
When it comes to what you can actually buy, OANDA stands out by offering real exchange-traded securities on both U.S. and international exchanges, while Pepperstone does not offer real shares. For crypto, OANDA supports both delivered cryptocurrency and crypto CFDs; Pepperstone offers crypto only as CFDs. According to ForexBrokers.com, both earn 4 stars for Range of Investments, with OANDA ranked #20 of 63 brokers and Pepperstone ranked #23.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 1726 |
| Forex Pairs (Total) | 69 | 65 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | Yes | No |
| 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 check the key boxes for trading platforms and tools. Each broker offers a free demo account for paper trading, a proprietary platform, and support for MetaTrader 4 (MT4) and MetaTrader 5 (MT5). You can trade on Windows desktop downloads or in your browser, and both brokers support copy trading. Charting is strong on both, with the ability to place trades directly from charts, along with plenty of indicators and customizable watchlists.
In independent testing by ForexBrokers.com, both OANDA and Pepperstone earned 4 out of 5 stars for Trading Platforms and Tools. OANDA holds a slight edge in the rankings at #16 out of 63 brokers, while Pepperstone comes in at #21. In short, OANDA may appeal if you want a small edge in third-party rankings, while Pepperstone delivers a similar platform lineup that many traders will find equally capable.
| 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) | 89 | 15 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
OANDA and Pepperstone both deliver strong mobile trading apps for iPhone and Android. Each app supports forex and CFD trading with price alerts, 30 technical studies for charting, the ability to draw trendlines, and auto‑saved chart drawings so your analysis stays in place.
The standout difference is watchlist syncing: Pepperstone syncs watchlists between mobile and the web platform, while OANDA does not. In ForexBrokers.com’s Mobile Trading Apps category, OANDA earned 5 stars and ranked 7th out of 63 brokers, whereas Pepperstone earned 4 stars and ranked 19th. Choose Pepperstone if synced watchlists across devices are essential; pick OANDA if you want the higher rated mobile trading app overall.
| 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 | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Comparing OANDA vs Pepperstone for market research, OANDA takes a slight edge. OANDA earns 5 stars and ranks #4 out of 63 brokers for Research on ForexBrokers.com, while Pepperstone scores 4.5 stars and ranks #12. If research quality and third-party validation matter to you, OANDA comes out ahead, though both brokers deliver a strong set of tools for forex and CFD traders.
Both OANDA and Pepperstone offer daily market commentary, real-time forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones, and technical tools from Autochartist. Neither broker includes Trading Central, TipRanks, or Acuity Trading tools. Each provides a sentiment-based trading gauge showing long vs. short positions, plus a clear economic calendar for global events. If you want the highest-rated research experience, OANDA is the pick; if you’re already with Pepperstone, you’ll still get similar features and timely market insight.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
OANDA and Pepperstone both provide beginner-friendly forex and CFD education with a wide range of materials, including articles, videos, and archived webinars. Each broker runs live educational webinars at least once a month, and both offer plentiful video content for all levels—at least 10 beginner videos and at least 10 advanced videos—making it easy for new traders to build skills step by step.
In terms of quality scores, OANDA earns a 5-star Education rating, while Pepperstone scores 4.5 stars. Looking at category placement among 63 brokers, Pepperstone ranks #15 and OANDA ranks #18. If you want top-rated content, OANDA is a great pick; if you prefer a provider with a slightly higher education ranking, Pepperstone stands out. Either way, beginners will find solid guidance from both brokers.
| 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 #13, 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
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| Trust Score | 93 | 95 |
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In the OANDA vs Pepperstone comparison, OANDA lets you buy actual (delivered) cryptocurrencies and trade crypto CFDs, while Pepperstone offers only cryptocurrency CFDs and does not support purchasing real, delivered crypto.
In this deposit and withdrawal methods comparison of online brokers OANDA and Pepperstone, both support ACH/SEPA transfers, PayPal, and bank wires; only OANDA offers Skrill, and Visa/Mastercard availability is not specified for either.
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) | 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 SCA 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 | 1726 | |
| Forex Pairs (Total) | 69 | 65 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | Yes | No | |
| 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) - Standard account | 1.68 | 1.1 | |
| All-in Cost EUR/USD - Active | 1.69 | 0.8 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | OANDA | Pepperstone | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | 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) | 89 | 15 | |
| 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 Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 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 | Yes | |
| 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 | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| 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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