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 |
Pepperstone and Spreadex are prominent online brokers offering varied pricing structures for trading enthusiasts. For those prioritizing competitive fees, Pepperstone's Razor account appears to be a compelling choice, especially when participating in its Active Trader program. This account operates with a commission-based pricing model, boasting an average spread of 0.10 pips for EUR/USD, which becomes 0.80 pips when commission is considered. However, its Standard account, which is commission-free, presents a higher average spread of 1.1 pips for the same pair, making it a pricier alternative compared to the Razor account. Pepperstone scores 4.5 stars and ranks #10 out of 63 brokers for commissions and fees according to ForexBrokers.com.
Spreadex offers a simpler fee structure with no commission charges, an appealing option for those wanting straightforward costs. In January 2024, Spreadex reported an average spread of 0.81 pips for EUR/USD, achieving a minimum spread of 0.6 pips 60% of the time. Though Spreadex does not provide commission reductions like Pepperstone's Active Trader program, it remains a competitive option with its fairly consistent spread rates. Spreadex earns 4 stars and is ranked #27 out of 63 brokers by ForexBrokers.com in the same category.
In summary, Pepperstone may appeal more to high-volume traders who can take advantage of its discounts through the Active Trader program, especially with its Razor account, while Spreadex offers a straightforward, commission-free trading experience ideal for those seeking consistency in fees. Both brokers provide valuable options tailored to different trading preferences, with their respective strengths reflected in their star ratings and rankings.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.00 | 0.81 |
| All-in Cost EUR/USD - Active | 0.70 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
For those exploring online trading platforms, Pepperstone and Spreadex each offer distinct features when it comes to investment options. Pepperstone provides 1,726 tradeable symbols, including 65 forex pairs, allowing traders to engage in forex trading via contracts for differences (CFDs) or spot contracts. Additionally, Pepperstone offers copy trading and the option to trade in cryptocurrency derivatives, but not actual delivered cryptocurrencies. However, it does not provide access to exchange-traded securities on either U.S. or international exchanges. Pepperstone's range of investments is rated 4 out of 5 stars, placing it at rank #26 out of 63 brokers in this category according to ForexBrokers.com.
On the other hand, Spreadex shines with a vast array of 10,000 tradeable symbols, offering 52 forex pairs available as CFDs or spot contracts. While it doesn't offer copy trading or actual delivered cryptocurrencies either, Spreadex does allow trading in cryptocurrency derivatives. Like Pepperstone, Spreadex does not grant access to exchange-traded securities on U.S. or international exchanges. When considering the range of investments, Spreadex earns a 5-star rating and a higher rank of #13 out of 63 brokers, highlighting its extensive selection of instruments available to traders.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 10000 |
| Forex Pairs (Total) | 65 | 52 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | No |
| 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.
Pepperstone and Spreadex both offer a variety of trading platforms and tools tailored to different user experiences. For beginners and those testing the waters, both brokers provide free demo accounts, allowing traders to practice without financial risk. While each broker features a proprietary platform, Pepperstone stands out with its inclusion of a downloadable desktop platform for Windows users, an option that Spreadex does not offer. Both brokers provide web-based platforms for trading on the go, but Pepperstone supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), enabling comprehensive technical analysis and trading strategy automation, whereas Spreadex does not offer these popular platforms.
In terms of enhancing trading strategies, Pepperstone takes the lead with options for copy trading via platforms like DupliTrade, a feature Spreadex lacks. When it comes to charting, Pepperstone provides a more extensive array of drawing tools, numbering 30 compared to Spreadex's 11. Both allow direct trading from stock charts, catering to intuitive trading decisions. For those keen on keeping an organized watch list, Spreadex nudges slightly ahead offering eight customizable fields compared to Pepperstone’s seven. Despite both receiving four-star ratings for their trading platforms and tools, Pepperstone is ranked higher on ForexBrokers.com at 22 out of 63 brokers, while Spreadex is placed at 46, reflecting a broader endorsement within the trading community.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 58 |
| Charting - Drawing Tools (Total) | 30 | 11 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 8 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and Spreadex both offer user-friendly mobile apps for iPhone and Android devices, providing traders the flexibility to manage their portfolios on the go. Both platforms support stock and forex price alerts, and allow users to create watchlists with real-time quotes. However, Pepperstone stands out by offering watchlist symbol syncing, which means your watchlist synchronizes seamlessly with your online account. Spreadex, on the other hand, does not include this feature. Chart enthusiasts will appreciate that Pepperstone's app provides 30 technical studies and the capability to auto-save drawings, while Spreadex does not offer these functionalities.
Both apps allow users to draw trendlines and view multiple time frames on charts, ensuring versatile trading options. While they are both rated four out of five stars for mobile trading apps, Pepperstone is ranked #21 out of 63 brokers by ForexBrokers.com, compared to Spreadex’s ranking of #46. This ranking difference suggests that Pepperstone might provide a slightly more enhanced mobile trading experience within the crowded broker market. Whether you prioritize syncing features, charting tools, or market rankings, both Pepperstone and Spreadex offer substantial mobile trading opportunities tailored to diverse trading needs.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Pepperstone and Spreadex both excel in offering essential market research tools and services for forex traders. Each platform provides daily market commentary and access to news from top-tier sources like Bloomberg and Reuters, ensuring traders are well-informed of current market conditions. For technical analysis and fundamental research, both brokers utilize Autochartist tools but do not offer resources from Trading Central or Acuity Trading. Additionally, both brokers include sentiment-based trading tools, allowing users to see trading ratios of positions across currency pairs. Each platform also features an economic calendar, ensuring traders are up-to-date on global economic events.
When comparing the research ratings and rankings, Pepperstone receives a commendable 4.5 out of 5 stars, standing out as the 12th best out of 63 brokers in the Research category on ForexBrokers.com. Meanwhile, Spreadex is rated 4 stars, ranking 31st on the same list. This reflects a slight edge for Pepperstone in delivering comprehensive market insights, making both platforms appealing, though with Pepperstone possibly offering a slight advantage in research offerings.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| 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.
Pepperstone and Spreadex both cater well to beginners by offering a suite of educational resources. Both platforms provide more than ten educational pieces focused on forex and CFDs, ensuring novices have a solid starting point. Additionally, each broker offers at least ten videos tailored for beginners, making complex concepts more digestible. However, Pepperstone distinguishes itself with regular monthly webinars and a searchable archive of past sessions, giving users the chance to learn both live and at their own pace. Spreadex, on the other hand, lacks in this area, as they do not offer webinars or an archive of recorded sessions.
For those craving advanced learning, Pepperstone offers a significant advantage with more than ten videos aimed at experienced traders, whereas Spreadex does not meet this criterion. Both brokers provide a comprehensive investor dictionary with over 50 trading terms, aiding beginners in building their foundational knowledge. With a 4.5-star rating, Pepperstone is ranked 17th out of 63 brokers for education by ForexBrokers.com, showcasing its commitment to comprehensive learning resources. Spreadex, rated four stars and ranked 45th, offers a solid educational foundation but falls short in comparison to Pepperstone's broader offerings for advanced and interactive learning.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| 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 Pepperstone is better than Spreadex. Pepperstone finished with an overall rank of #16, while Spreadex finished with an overall rank of #39.
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
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| Trust Score | 95 | 71 |
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Both Pepperstone and Spreadex do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide the option to trade cryptocurrency derivatives instead.
When comparing online brokers Pepperstone and Spreadex, Pepperstone stands out with a wider range of deposit and withdrawal options, offering ACH, SEPA transfers, PayPal, and Skrill, alongside Visa, Mastercard, and bank wires, whereas Spreadex provides only Visa, Mastercard, and bank wires, lacking support for ACH, SEPA, PayPal, and Skrill transactions.
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 |
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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 (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | 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 | No |
| Tier-2 Licenses (Trusted) | Pepperstone | Spreadex | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Pepperstone | Spreadex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 10000 | |
| Forex Pairs (Total) | 65 | 52 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | Pepperstone | Spreadex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | 0.81 | |
| All-in Cost EUR/USD - Active | 0.70 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | Spreadex | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Pepperstone | Spreadex | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | Spreadex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 8 | |
| Charting - Indicators / Studies (Total) | 15 | 58 | |
| Charting - Drawing Tools (Total) | 30 | 11 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Pepperstone | Spreadex | |
|---|---|---|---|
| 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 | Pepperstone | Spreadex | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Pepperstone | Spreadex | |
|---|---|---|---|
| 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 | 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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