Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs Spreadex, 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.
Pepperstone and Spreadex are both well-known online brokers, yet they differ significantly in terms of trust and regulation. Founded in 2010, Pepperstone is a more recent entrant to the market but is highly regarded with a Trust Score of 95 out of 99 from ForexBrokers.com, categorizing it as highly trusted. This broker holds three Tier-1 licenses, indicating strong regulatory compliance. In contrast, Spreadex, established in 1999, holds a Trust Score of 71, placing it in the average risk category. It holds one Tier-1 license and is more limited in regulatory oversight compared to Pepperstone. Neither Pepperstone nor Spreadex are publicly traded or operate as banks.
When considering regulatory trustworthiness, Pepperstone stands out for its superior licensing and higher Trust Score. Its possession of additional Tier-1 and Tier-2 licenses reassures potential investors about its commitment to compliance and safety. Spreadex, having been in the industry for longer, holds fewer licenses and scores lower on the trust scale, which may be an important factor for those prioritizing security and regulation in their broker selection. Ultimately, both companies provide trading services, but Pepperstone's stronger regulatory footprint positions it as the more secure choice for users prioritizing trust and oversight.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Year Founded | 2010 | 1999 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 0 |
On EUR/USD, Pepperstone’s Razor account averaged 0.10 pips in July 2024 and, after adding the commission-equivalent of 0.70 pips, delivered a 0.80‑pip all‑in cost. Spreadex reported a 0.81‑pip average in January 2024, with a 0.6‑pip minimum achieved 60% of the time. In practice, Razor is typically a touch cheaper on average, while Spreadex can be cheaper during periods when its 0.6‑pip minimum is available. Ratings and rankings: Pepperstone 4.5/5 stars, ranked #6 of 63 for Commissions and Fees; Spreadex 4/5 stars, ranked #25 of 63.
Pepperstone’s Standard account is commission-free with a 1.1‑pip average on EUR/USD (July 2024), making it more expensive than both Razor and Spreadex’s reported average. High‑volume traders can reduce costs through Pepperstone’s Active Trader program: in the U.K. and EU, eligible Professional clients trading at least £20 million in forex per month get a 15% rebate per lot (up to 25% above £200 million); in Australia, Professional clients start at 100 lots over three months for a 10% discount per standard lot, rising to a 30% reduction for more than 3,001 lots monthly. These rebates lower the effective spread.
Spreadex’s pricing centers on spreads, with a 0.81‑pip average on EUR/USD in January 2024 and a 0.6‑pip minimum available 60% of the month. Actual costs will vary with market conditions and time of day. If you want consistently low all‑in pricing with the potential for volume-based rebates, Pepperstone’s Razor plus Active Trader is compelling; if you prefer straightforward spread pricing that can dip to 0.6 pips, Spreadex is competitive.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.1 | 0.81 |
| All-in Cost EUR/USD - Active | 0.8 | N/A |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Pepperstone and Spreadex both let you trade forex as CFDs/spot and offer crypto CFDs (but not actual, delivered crypto). When it comes to sheer market access, Spreadex lists about 10,000 tradeable symbols versus Pepperstone’s 1,726. For currency traders, Pepperstone provides 65 forex pairs compared with 52 at Spreadex. Neither broker offers direct, exchange-traded shares on U.S. or international exchanges.
There are a few practical differences. Pepperstone supports copy trading, while Spreadex does not. Independent ratings reflect the gap in available markets: Pepperstone earns 4/5 stars and ranks 23rd out of 63 for Range of Investments, whereas Spreadex scores 5/5 stars and ranks 13th. In short, traders who want more markets under one roof may favor Spreadex, while those who value copy trading tools may lean toward Pepperstone.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 10000 |
| Forex Pairs (Total) | 65 | 52 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| Copy Trading | Yes | No |
| Cryptocurrency (Underlying) | No | 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.
Pepperstone and Spreadex both provide simulated paper trading with free demo accounts and each offers a proprietary, in-house platform. Both brokers deliver web-based trading and let you place trades directly from charts. Pepperstone adds a Windows desktop platform, plus MetaTrader 4 (MT4), MetaTrader 5 (MT5), and copy trading—features that Spreadex does not offer. Details on the number of built-in technical indicators and watchlist columns aren’t specified for either broker.
For Trading Platforms and Tools, both Pepperstone and Spreadex earn 4 out of 5 stars from ForexBrokers.com. In category rankings out of 63 brokers, Pepperstone places #21 while Spreadex ranks #34. Traders who want MT4/MT5, a Windows desktop option, and copy trading may lean toward Pepperstone, while those who prefer a streamlined, proprietary web platform may find Spreadex a good fit.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 15 | 58 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and Spreadex both offer iPhone and Android trading apps with price alerts, plus the ability to draw trendlines on charts. Key differences emerge in daily use: Pepperstone syncs your watchlists between the mobile app and your online account, while Spreadex does not. Pepperstone also lists 30 technical studies for its mobile charting and automatically saves your chart drawings; Spreadex does not publish a count of its studies and does not auto-save drawings.
Both apps are rated 4 out of 5 stars for mobile trading. However, on ForexBrokers.com, Pepperstone ranks 19th out of 63 brokers for Mobile Trading Apps, ahead of Spreadex at 33rd. If syncing watchlists, having a defined set of 30 studies, and saving chart work matter to you, Pepperstone has the edge. If you mainly need an iPhone or Android app with alerts and trendline drawing, Spreadex can still meet your needs.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
Pepperstone and Spreadex both cover the essentials for market research. Each broker provides daily market commentary, real-time forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, and a clear economic calendar to track key events. For analysis, both include Autochartist for technical ideas and offer a client sentiment tool that shows long/short ratios across instruments. Neither broker currently integrates Trading Central, TipRanks, or Acuity Trading tools.
When it comes to strength and recognition, Pepperstone has the edge: it earns 4.5 out of 5 stars for Research and ranks #12 out of 63 brokers on ForexBrokers.com. Spreadex is close behind with 4 out of 5 stars and a #27 ranking. If you want slightly more comprehensive research with similar core features, Pepperstone is the better pick, while Spreadex remains a solid alternative for everyday market insights.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| 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.
Pepperstone vs Spreadex for beginner education: both brokers provide a library of forex and CFD learning materials, including at least 10 beginner-friendly video lessons. Pepperstone adds monthly live webinars and a sizable set of advanced videos, making it easier to progress from the basics to more complex strategies. Spreadex focuses more on entry-level content; it offers plenty of beginner videos but no regular webinars and lacks a large advanced-video section.
For overall quality, Pepperstone earns 4.5/5 stars for Education and ranks #15 out of 63 brokers on ForexBrokers.com, while Spreadex scores 4/5 stars and ranks #33. If you want live training and deeper topics, Pepperstone is the stronger pick. If you just need simple, starter videos to learn forex and CFDs, Spreadex can still help you get underway.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Pepperstone is better than Spreadex. Pepperstone finished with an overall rank of #17, while Spreadex finished with an overall rank of #32.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
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Spreadex
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 71 |
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Pepperstone vs Spreadex: neither online broker lets you buy actual (delivered) cryptocurrency, but both offer cryptocurrency CFDs for trading.
Pepperstone supports ACH/SEPA transfers, PayPal, and bank wire deposits/withdrawals (but not Skrill), while Spreadex offers bank wires only (no ACH/SEPA, PayPal, or Skrill), with Visa/Mastercard availability not specified for either broker.
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 | Pepperstone | Spreadex | |
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| Trust Score | 95 | 71 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | Spreadex Review |
| Broker Screenshots | Pepperstone | Spreadex | |
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| Regulation | Pepperstone | Spreadex | |
|---|---|---|---|
| Trust Score | 95 | 71 | |
| Year Founded | 2010 | 1999 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 0 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | Spreadex | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| 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 | No |
| Tier-2 Licenses (Trusted) | Pepperstone | Spreadex | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Pepperstone | Spreadex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 10000 | |
| Forex Pairs (Total) | 65 | 52 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| Copy Trading | Yes | No | |
| Cryptocurrency (Underlying) | No | 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 | Pepperstone | Spreadex | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.1 | 0.81 | |
| All-in Cost EUR/USD - Active | 0.8 | N/A | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | Spreadex | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | Pepperstone | Spreadex | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No |
| Trading Tools | Pepperstone | Spreadex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 15 | 58 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | Spreadex | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Pepperstone | Spreadex | |
|---|---|---|---|
| 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 | Pepperstone | Spreadex | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | Pepperstone | Spreadex | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Pepperstone Review | Spreadex Review |
| Overall | Pepperstone | Spreadex | |
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| Trust Score | 95 | 71 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | Spreadex Review |
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