Written by ForexBrokers.com
In this head to head comparison of Saxo vs Pepperstone, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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Saxo and Pepperstone are two well-known players in the online trading world, but they have some key differences in terms of trust and regulation. Saxo was established in 1992 and functions as a bank. Despite not being publicly traded, it holds an impressive seven Tier-1 licenses, contributing to its perfect Trust Score of 99 according to ForexBrokers.com, indicating it's highly trusted. In comparison, newer to the market since 2010, Pepperstone is not a bank but holds three Tier-1 licenses, leading to a respectable Trust Score of 95.
Both brokers are recognized as trustworthy institutions, though the number of licenses they hold varies. Saxo has an additional Tier-1 license compared to Tier-2, highlighting its higher level of trust regarding regulation, while Pepperstone balances its licenses with three Tier-1 and two Tier-2. For traders seeking dependable brokers, both Saxo and Pepperstone offer strong regulatory standing, with Saxo having a slight edge in trustworthiness. Despite their contrasting profiles, they remain secure choices for online trading.
| Feature |
Saxo
|
Pepperstone
|
|---|---|---|
| Year Founded | 1992 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 3 |
| Tier-2 Licenses | 1 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
When comparing the commissions and fees of Saxo and Pepperstone, both brokers offer competitive pricing, but they cater to slightly different types of traders. Saxo is notable for its excellent all-around pricing, particularly appealing to active and high-volume traders or those maintaining large account balances. As of November 2023, Saxo offers average spreads on the EUR/USD of 1.1, 1.0, and 0.9 pips for its Classic, Platinum, and VIP accounts, respectively. The Classic account demands no minimum deposit, while the Platinum and VIP tiers require substantial minimums or high trading volumes to upgrade. Saxo is mostly commission-free on forex, though traders with low volumes incur a small ticket fee. Saxo is rated 5 stars for its commissions and fees, ranking #9 out of 63 brokers.
Pepperstone, on the other hand, distinguishes itself with competitive pricing for high-volume traders through its Razor account, especially when combined with the Active Trader program. The Razor account, which operates on a commission-based model, lists an average spread of 0.10 pips for the EUR/USD and incurs an additional commission, making the all-in cost approximately 0.80 pips, close to the industry average. The Standard account, offering a commission-free structure, averages a higher spread of 1.1 pips. Pepperstone’s Active Trader program enhances value by providing rebates based on monthly trading volumes. Rated 4.5 stars, Pepperstone ranks #10 among 63 brokers in the Commissions and Fees category.
Both Saxo and Pepperstone present appealing options depending on the trader's profile and needs. Saxo excels with its lower fees for large account holders and high traders, whereas Pepperstone's Razor account offers value through its low spreads and tiered Active Trader program rebates. Ultimately, choosing between the two would depend on individual trading volumes, engagement with special accounts, and participation in loyalty programs to maximize potential savings on fees.
| Feature |
Saxo
|
Pepperstone
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.1 | 1.00 |
| All-in Cost EUR/USD - Active | 0.9 | 0.70 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Saxo and Pepperstone for their range of investments, Saxo emerges as a strong contender for those seeking diverse options. Saxo offers an impressive 70,000 tradeable symbols and provides the opportunity to explore 190 forex pairs. In contrast, Pepperstone has a smaller selection with 1,726 tradeable symbols and 65 forex pairs. Additionally, Saxo grants access to exchange-traded securities on both U.S. and international exchanges, while Pepperstone does not offer this option, impacting investors who wish to directly own shares of companies like Apple or Vodafone.
Both Saxo and Pepperstone provide forex trading through CFDs or spot contracts, and they also support copy trading and cryptocurrency derivatives, ensuring a spectrum of modern trading options. However, investors looking for actual delivered cryptocurrencies will find neither broker offers this service. Ranked third by ForexBrokers.com in the Range of Investments category, Saxo scores a full five stars, highlighting its comprehensive offerings. Meanwhile, Pepperstone holds a respectable four-star rating, placing it 26th in the same ranking, suggesting it may appeal more to traditional forex traders than those seeking wider market exposure.
| Feature |
Saxo
|
Pepperstone
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 1726 |
| Forex Pairs (Total) | 190 | 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) | No | 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 trading platforms and tools offered by Saxo and Pepperstone, both brokers provide robust options for both beginner and experienced traders. Saxo and Pepperstone offer simulated trading through free virtual demo accounts, proprietary platforms, and Windows-based desktop download platforms. Both brokers support web-based trading platforms and provide copy trading capabilities. However, only Pepperstone offers the widely popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, along with DupliTrade, which may appeal to traders seeking these specific tools for advanced trading strategies. Other common features include the ability to trade directly from stock charts.
When it comes to charting and watch list tools, Saxo offers more variety with 60 columns for watch lists compared to Pepperstone's 7, although Pepperstone compensates with 30 drawing tools against Saxo's 20. Both brokers have earned commendable ratings for their trading platforms and tools, with Saxo securing a perfect 5-star rating and Pepperstone receiving a solid 4-star evaluation. According to ForexBrokers.com, Saxo leads with a ranking of #1 out of 63 brokers in the trading platforms and tools category, whereas Pepperstone stands at #22, emphasizing Saxo's strong position in delivering advanced trading functionalities.
| Feature |
Saxo
|
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) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | Yes |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 15 |
| Charting - Drawing Tools (Total) | 20 | 30 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both Saxo and Pepperstone offer robust experiences for users on both iPhone and Android devices. Traders will find features such as stock and forex price alerts, the ability to draw trendlines, and viewing multiple time frames are available on both platforms. Additionally, both Saxo and Pepperstone ensure seamless experience by offering watchlist symbol syncing and real-time quotes.
For those who prioritize advanced charting capabilities, Saxo stands out with 64 technical studies compared to Pepperstone's 30. This difference might explain why Saxo scores a perfect five out of five stars while Pepperstone receives a respectable four stars. Their outstanding performance is also reflected in ForexBrokers.com's ranking, where Saxo holds the impressive #2 spot out of 63 brokers, while Pepperstone ranks at #21. Ultimately, traders looking for a rich array of charting tools and higher-rated service might lean toward Saxo, while Pepperstone still provides a solid and reliable platform.
| Feature |
Saxo
|
Pepperstone
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 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.
Saxo and Pepperstone both provide comprehensive market research features, making them notable choices for traders. Both brokers offer daily market commentary and access to forex news from reputed sources like Bloomberg and Reuters. They also provide technical and fundamental analysis tools through Autochartist and a sentiment-based trading tool, helping traders gauge market positions. Moreover, both Saxo and Pepperstone include an economic calendar to keep track of global news events, highlighting their commitment to staying informed about market movements.
Despite these similarities, Saxo slightly edges out Pepperstone in terms of research ratings and rankings. With a perfect 5-star rating, Saxo is ranked #1 out of 63 brokers by ForexBrokers.com, while Pepperstone garners a commendable but slightly lower 4.5-star rating, placing it at #12 in the same category. While neither broker offers research tools from Trading Central, TipRanks, or Acuity Trading, Saxo's top ranking underscores its superior standing in the market research domain compared to Pepperstone.
| Feature |
Saxo
|
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 trading novices, both Saxo and Pepperstone offer a comprehensive range. You can expect at least ten pieces of educational content from each broker, such as articles, videos, and webinars focused on forex and CFDs. Both Saxo and Pepperstone provide regular online webinars, hosting them at least once a month, and maintain a searchable archive of past sessions. Additionally, whether you are just starting out or consider yourself an advanced trader, both platforms offer a plethora of videos tailored to your expertise level. An added benefit is their investor dictionaries, featuring over 50 essential trading terms to help you understand the market lingo better.
Despite their similarities, Saxo holds a slight edge in terms of education quality with a five-star rating and is ranked 13th in education out of 63 brokers according to ForexBrokers.com. Meanwhile, Pepperstone, with a respectable 4.5-star rating, follows closely at the 17th spot. Both platforms are well-equipped to foster your trading education, but Saxo may have the slight upper hand for those prioritizing educational resources in their learning journey.
| Feature |
Saxo
|
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 Saxo is better than Pepperstone. Saxo finished with an overall rank of #3, while Pepperstone finished with an overall rank of #16.
Saxo is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.
| Feature |
Saxo
|
Pepperstone
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 95 |
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Both Saxo and Pepperstone do not provide the option to purchase actual (delivered) cryptocurrency, but they do offer the ability to trade cryptocurrency derivatives.
When comparing Saxo and Pepperstone in terms of deposit and withdrawal options, Pepperstone offers more flexibility by supporting ACH and SEPA transfers, PayPal, and Skrill, whereas both brokers allow transactions via Visa or Mastercard and bank wires.
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 | Saxo | Pepperstone | |
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| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | Saxo Review | Pepperstone Review |
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| Regulation | Saxo | Pepperstone | |
|---|---|---|---|
| Trust Score | 99 | 95 | |
| Year Founded | 1992 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 3 | |
| Tier-2 Licenses | 1 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Saxo | Pepperstone | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Saxo | Pepperstone | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | Yes | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Saxo | Pepperstone | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 1726 | |
| Forex Pairs (Total) | 190 | 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) | No | 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 | Saxo | Pepperstone | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 1.00 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.70 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | Pepperstone | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | Saxo | Pepperstone | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | Pepperstone | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 7 | |
| Charting - Indicators / Studies (Total) | 64 | 15 | |
| Charting - Drawing Tools (Total) | 20 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | Pepperstone | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 64 | 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 | Saxo | 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 | Saxo | 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 | Saxo | 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 | Saxo Review | Pepperstone Review |
| Overall | Saxo | Pepperstone | |
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| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | Saxo Review | Pepperstone Review |
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