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 you’re choosing based on trading costs, Pepperstone generally comes out cheaper than OANDA. On EUR/USD, Pepperstone’s Razor account averages about 0.80 pips all-in (0.10 pips spread plus a commission equivalent of 0.70 pips), while OANDA’s typical costs are higher. For commissions and fees, Pepperstone earns 4.5/5 stars and ranks #11 out of 63 brokers at ForexBrokers.com; OANDA earns 4/5 stars and ranks #35 out of 63.
OANDA’s pricing leans higher versus top competitors. Its average non-core spread on EUR/USD was 1.61 pips in July 2024. The optional Core Pricing account lowers the spread but adds a commission of $5 per side per $100,000 traded (about $10 per round turn), requires a $10,000 minimum deposit, and can bring the effective EUR/USD cost to roughly 1.4 pips in the example provided—slightly below its default 1.6 pips. OANDA supports micro-position sizing down to a single unit and offers Elite Trader rebates of $5–$17 per million for high-volume traders. It also publishes trailing average spreads, though not fixed-period averages, which can make side-by-side comparisons trickier.
Pepperstone’s value is strongest with the Razor account, where the 0.10-pip average EUR/USD spread plus commission produces about 0.80 pips all-in, near the industry average. The Standard account is commission-free but pricier at an average 1.1 pips on EUR/USD, making Razor the better choice for most cost-focused traders. Active Trader rebates can further reduce costs, with tiered programs in the U.K./EU and Australia that return a portion of the spread to high-volume clients.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.69 | 1.00 |
| All-in Cost EUR/USD - Active | 1.69 | 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.
OANDA vs Pepperstone: range of investments. Both brokers let you trade forex as CFDs or spot, and both support copy trading. OANDA lists 4,172 tradeable symbols and 69 forex pairs, while Pepperstone offers 1,726 symbols and 65 pairs. OANDA also provides access to exchange-traded shares on U.S. and international markets (so you can buy stocks like Apple or Vodafone outright), which Pepperstone does not. For crypto, OANDA lets you buy actual coins as well as crypto derivatives, whereas Pepperstone offers crypto derivatives only.
In independent testing, both OANDA and Pepperstone earned 4 stars for Range of Investments, with Pepperstone ranked slightly higher (#27) than OANDA (#28) out of 63 brokers. If you want the widest selection, including real stocks and real crypto, OANDA stands out. If your focus is forex and derivatives and you don’t need direct stock or coin ownership, Pepperstone remains a strong alternative.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 1726 |
| Forex Pairs (Total) | 69 | 65 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | 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.
When comparing the trading platforms and tools of OANDA and Pepperstone, both brokers provide a comprehensive experience for their users. OANDA and Pepperstone offer traders the convenience of simulated paper trading through free virtual demo accounts. They both have proprietary trading platforms and provide tools compatible with Windows-based desktop downloads and web-based browsers. Additionally, these brokers facilitate copy trading and support popular platforms like MetaTrader 4 and 5. While neither supports ZuluTrade, Pepperstone stands out with DupliTrade integration. OANDA, however, offers a broader selection of 74 drawing tools compared to Pepperstone’s 30, with both enabling direct trading from stock charts.
In terms of watch list customization, Pepperstone edges out OANDA with 7 columns compared to OANDA's 6. Despite such distinctions, both scored 4 out of 5 stars for their trading platforms and tools. OANDA holds a higher ranking in the Trading Platforms and Tools category at ForexBrokers.com, positioned at #15, while Pepperstone is placed at #22 out of 63 brokers. These similarities and subtle differences make both brokers reliable options, catering to diverse trading preferences while ensuring a quality user experience.
| 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 | No | Yes |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 89 | 15 |
| Charting - Drawing Tools (Total) | 74 | 30 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of OANDA and Pepperstone, both brokers offer apps for iPhone and Android users, ensuring broad accessibility. Traders looking for real-time notifications will find both platforms accommodating, as each provides stock or forex price alerts. However, OANDA and Pepperstone diverge when it comes to watchlist features. While Pepperstone impresses with watchlist symbol syncing between its app and a client's online account, OANDA lacks this capability. Both apps, however, offer 30 technical studies for charting, enable drawing trendlines, allow viewing multiple time frames, and auto-save chart annotations. Additionally, creating watchlists with real-time quotes is possible on both platforms.
OANDA shines with a stellar 5-star rating for its mobile trading app, while Pepperstone earns 4 stars. This difference in ratings is reflected in their rankings by ForexBrokers.com, with OANDA securing the 7th spot among 63 brokers in the Mobile Trading Apps category. In contrast, Pepperstone is positioned at 21st. Overall, users seeking a higher-rated mobile trading experience may prefer OANDA, especially if syncing watchlists isn't a priority for them.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | 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.
When comparing online brokers OANDA and Pepperstone in terms of market research offerings, both platforms provide daily market commentary and access to forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones. Traders can also benefit from technical and fundamental analysis tools offered through Autochartist on both platforms. While neither broker offers tools from Trading Central or Acuity Trading, they compensate with sentiment-based trading tools to help investors understand market dynamics by showing the ratio of long or short positions across various instruments.
OANDA and Pepperstone both provide an economic calendar that keeps traders informed of global events impacting various economies. However, when evaluating these brokers for overall research, OANDA distinguishes itself with a five-star rating compared to Pepperstone’s 4.5 stars. Ranked by ForexBrokers.com among 63 brokers, OANDA holds the fifth position for research, while Pepperstone is ranked twelfth, showcasing OANDA’s edge in delivering extensive market analysis resources.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
OANDA and Pepperstone both deliver beginner-friendly forex and CFD education. Each broker provides well over 10 learning pieces (articles, videos, and archived webinars), hosts live client webinars at least once a month, and keeps a searchable archive so you can replay sessions anytime. Beginners also get at least 10 starter videos from both brands, with another set of 10+ advanced videos as skills grow. Each broker includes an investor dictionary covering 50+ trading terms to help you learn the language of the market.
When it comes to quality scores, OANDA earns 5 stars for Education, while Pepperstone scores 4.5 stars. However, in ForexBrokers.com’s Education category ranking of 63 brokers, Pepperstone places slightly higher at #17 compared with OANDA at #19. In short, both brokers offer the same core features beginners need—OANDA leads on star rating, while Pepperstone edges ahead in category rank.
| 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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OANDA allows users to purchase both actual delivered cryptocurrencies and cryptocurrency derivatives, whereas Pepperstone offers only cryptocurrency derivatives and does not provide the ability to buy delivered cryptocurrencies.
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) | 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 (SFC 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/Central Bank 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. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | OANDA | Pepperstone | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.69 | 1.00 | |
| All-in Cost EUR/USD - Active | 1.69 | 0.70 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | 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 | No | Yes | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| Trading Tools | OANDA | Pepperstone | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 89 | 15 | |
| Charting - Drawing Tools (Total) | 74 | 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 | No | 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) | No | No | |
| TipRanks | No | No | |
| 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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