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 |
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 it comes to comparing investment options, OANDA and Pepperstone both offer forex trading available as CFDs or spot contracts. However, OANDA comes ahead with a more extensive selection of tradeable symbols, providing access to 3,928 compared to Pepperstone's 1,726. In terms of forex pairs, OANDA also slightly outpaces Pepperstone with 68 options versus 65. Neither platform currently offers trading of exchange-traded securities such as U.S. stocks like Apple or international giants like Vodafone, focusing instead on other investment forms like forex and CFDs.
Both OANDA and Pepperstone facilitate innovative trading strategies by supporting copy trading. Cryptocurrency enthusiasts will find that OANDA offers the option to buy actual delivered cryptocurrencies, a feature not available with Pepperstone, although both brokers accommodate crypto derivatives trading. In ratings, both platforms earn 4 out of 5 stars for their range of investments. But when ranked among 63 brokers, Pepperstone edges slightly ahead, taking the 26th spot compared to OANDA's 27th place in the Range of Investments category by ForexBrokers.com.
| 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) | No | No |
| Int'l Stock Trading (Non CFD) | No | 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 OANDA and Pepperstone, both brokers offer an impressive suite of trading platforms and tools. Traders will find that each broker provides simulated trading with free demo accounts, proprietary platforms, and both Windows-based desktop and web-based trading options. MetaTrader fans can rejoice as both OANDA and Pepperstone support MetaTrader 4 (MT4) and MetaTrader 5 (MT5). While neither offers ZuluTrade, Pepperstone stands out with the inclusion of DupliTrade for strategy diversification. Investors interested in copy trading will find options with both brokers.
Charting tools present some differences: OANDA provides a substantial 431 drawing tools, overshadowing Pepperstone's offering of 30. Both platforms allow users to trade directly from stock charts. Watch list customization offers slight variation, with Pepperstone providing seven columns compared to OANDA's six. Rated four stars each for their trading platforms and tools, OANDA and Pepperstone are competitive choices. However, OANDA holds a slight edge in ForexBrokers.com's ranking, coming in at #15 compared to Pepperstone's #22 out of 63 brokers. This suggests a slightly higher customer satisfaction in this category for OANDA users.
| 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) | 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 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.
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
|
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 | |
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| Review | OANDA Review | Pepperstone Review |
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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) | No | No | |
| 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) | No | 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) | No | No |
| 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) | No | No | |
| Int'l Stock Trading (Non CFD) | No | 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 | 1.61 | 1.00 | |
| All-in Cost EUR/USD - Active | 1.61 | 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) | 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 | 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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