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OANDA vs Pepperstone 2025

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025

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.

OANDA
4.5/5 Stars Overall
  • Minimum Deposit: $0
  • Trust Score: 93
  • Tradeable Symbols (Total): 3928 info
Pepperstone
4.5/5 Stars Overall
  • Minimum Deposit: $0
  • Trust Score: 95
  • Tradeable Symbols (Total): 1726

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.

Regulation

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 logoOANDA
Pepperstone logoPepperstone
Year Founded info 1996 2010
Publicly Traded (Listed) info No No
Bank info No No
Tier-1 Licenses info 7 3
Tier-2 Licenses info 0 2
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 2

Fees

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 logoOANDA
Pepperstone logoPepperstone
Minimum Deposit info $0 $0
Average Spread EUR/USD - Standard info 1.61 info 1.00 info
All-in Cost EUR/USD - Active info 1.61 info 0.70 info
Active Trader or VIP Discounts info Yes info Yes
ACH or SEPA Transfers info Yes info Yes
PayPal (Deposit/Withdraw) info Yes info Yes
Skrill (Deposit/Withdraw) info Yes info Yes
Visa/Mastercard (Credit/Debit) info Yes info Yes
Bank Wire (Deposit/Withdraw) info Yes Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

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 logoOANDA
Pepperstone logoPepperstone
Forex Trading (Spot or CFDs) info Yes info Yes
Tradeable Symbols (Total) info 3928 info 1726
Forex Pairs (Total) info 68 65
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No No
Social Trading / Copy Trading info Yes info Yes
Cryptocurrency (Physical) info Yes No
Cryptocurrency (Derivative) info Yes info 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.

Trading platforms and tools

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 logoOANDA
Pepperstone logoPepperstone
Virtual Trading (Demo) info Yes Yes
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes info Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes info Yes
DupliTrade info No Yes
ZuluTrade info No No
Charting - Indicators / Studies (Total) info 81 15
Charting - Drawing Tools (Total) info 431 30
Charting - Trade From Chart info Yes Yes
Watchlists - Total Fields info 6 7
View More

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

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 logoOANDA
Pepperstone logoPepperstone
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Watchlist Syncing info No Yes
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes Yes
Mobile Watchlist info Yes Yes

Dive deeper: Best Forex Trading Apps.

Market research

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 logoOANDA
Pepperstone logoPepperstone
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes Yes
Trading Central (Recognia) info No No
Social Sentiment - Currency Pairs info Yes Yes
TipRanks info No No
Signal Centre (Acuity Trading) info No No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

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 logoOANDA
Pepperstone logoPepperstone
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) info Yes Yes

Dive deeper: Best Forex Brokers for Beginners.

Winner

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 logoOANDA
Pepperstone logoPepperstone
Overall Rating info 4.5/5 Stars 4.5/5 Stars
Trust Score info 93 95
Range of Investments 4/5 Stars 4/5 Stars
Commissions & Fees 4/5 Stars 4.5/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Research 5/5 Stars 4.5/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Education 4/5 Stars 4/5 Stars

FAQs

Can you trade cryptocurrency with OANDA or Pepperstone?

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.

What funding options does each broker offer?

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.




announcementPlease 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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Compare

0 of 5
Overall Rating OANDA Pepperstone
Overall Rating info 4.5/5 Stars 4.5/5 Stars
Commissions & Fees 4/5 Stars 4.5/5 Stars
Range of Investments 4/5 Stars 4/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 4/5 Stars 4/5 Stars
Trust Score info 93 95
Winner check_circle
Review OANDA Review Pepperstone Review
Broker Screenshots OANDA Pepperstone
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation OANDA Pepperstone
Trust Score info 93 95
Year Founded info 1996 2010
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-1 Licenses info 7 3
Tier-2 Licenses info 0 2
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 2
Tier-1 Licenses (Highly Trusted) OANDA Pepperstone
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info Yes No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info Yes No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info Yes No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses (Trusted) OANDA Pepperstone
Kenya (CMA Authorised) info No Yes
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA/Central Bank Authorised) info No Yes
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments OANDA Pepperstone
Forex Trading (Spot or CFDs) info Yes info Yes
Tradeable Symbols (Total) info 3928 info 1726
Forex Pairs (Total) info 68 65
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No No
Social Trading / Copy Trading info Yes info Yes
Cryptocurrency (Physical) info Yes No
Cryptocurrency (Derivative) info Yes info 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 info 1.61 info 1.00 info
All-in Cost EUR/USD - Active info 1.61 info 0.70 info
Active Trader or VIP Discounts info Yes info Yes
Inactivity Fee info Yes No
Execution: Agency Broker info No Yes
Execution: Market Maker info Yes Yes
Funding OANDA Pepperstone
Minimum Deposit info $0 $0
PayPal (Deposit/Withdraw) info Yes info Yes
Skrill (Deposit/Withdraw) info Yes info Yes
Visa/Mastercard (Credit/Debit) info Yes info Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info Yes info Yes
Trading Platforms OANDA Pepperstone
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes info Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes info Yes
cTrader info No Yes
DupliTrade info No Yes
ZuluTrade info No No
Trading Tools OANDA Pepperstone
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 6 7
Charting - Indicators / Studies (Total) info 81 15
Charting - Drawing Tools (Total) info 431 30
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading OANDA Pepperstone
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info No Yes
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes Yes
Mobile Economic Calendar info Yes Yes
Research OANDA Pepperstone
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes Yes
Trading Central (Recognia) info No No
TipRanks info No No
Social Sentiment - Currency Pairs info Yes Yes
Economic Calendar info Yes Yes
Education OANDA Pepperstone
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs OANDA Pepperstone
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review OANDA Review Pepperstone Review
Overall OANDA Pepperstone
Overall Rating info 4.5/5 Stars 4.5/5 Stars
Commissions & Fees 4/5 Stars 4.5/5 Stars
Range of Investments 4/5 Stars 4/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 4/5 Stars 4/5 Stars
Trust Score info 93 95
Winner check_circle
Review OANDA Review Pepperstone Review
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