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 both competitive on trading costs, but they appeal to different priorities. Pepperstone shines for active traders using its Razor account, while Spreadex posts tight, straightforward spreads. On commissions and fees, Pepperstone is rated 4.5/5 stars and ranks #11 out of 63 brokers at ForexBrokers.com; Spreadex holds 4/5 stars and ranks #28.
Pepperstone’s Razor account (available on TradingView, MT4/MT5, and cTrader) uses a commission-plus-spread model. As of July 2024, Pepperstone listed a 0.10‑pip average spread on EUR/USD; adding the commission-equivalent of 0.70 pips brings the all‑in cost to 0.80 pips, which is near the industry average. Its commission‑free Standard account averaged 1.1 pips on EUR/USD, making it pricier than Razor’s 0.80‑pip all‑in. High‑volume traders can lower costs further with Pepperstone’s Active Trader program: in the UK/EU, professional clients trading at least £20 million per month in forex can receive a 15% rebate per lot, rising to 25% above £200 million; in Australia, professional clients need 100 lots over three months for Tier One (10% discount per standard lot), with Tier Three (more than 3,001 lots monthly) reducing spreads by 30%.
Spreadex reported an average EUR/USD spread of 0.81 pips in January 2024, with a 0.6‑pip minimum achieved 60% of the time that month. Put simply, Pepperstone’s Razor all‑in cost of 0.80 pips is fractionally lower than Spreadex’s average, while Pepperstone’s Standard account at 1.1 pips is higher. The better deal for you will depend on your trade volume, eligibility for Pepperstone’s rebates, and whether you prefer a commission‑plus‑spread structure (Pepperstone Razor) or pricing where the published spread is the main quoted cost (as with Spreadex’s figures).
| 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 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Spreadex vs Pepperstone: both brokers support forex trading and a wide set of CFDs. Spreadex stands out for sheer variety with about 10,000 tradeable instruments, compared with Pepperstone’s 1,726. For currency traders, Pepperstone lists 65 forex pairs, while Spreadex offers 52. Neither broker offers direct share dealing on U.S. or international exchanges.
Pepperstone supports copy trading; Spreadex does not. Neither lets you buy actual cryptocurrency, but both provide crypto derivatives. In ForexBrokers.com’s Range of Investments ratings, Spreadex earns 5/5 stars and ranks 14th of 63, while Pepperstone scores 4/5 stars and ranks 27th. Choose Spreadex for the biggest range of markets, and consider Pepperstone if copy trading and a strong selection of forex pairs are priorities.
| 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 (Underlying) | 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 free demo accounts for paper trading and each provides a proprietary platform. You can trade in your browser with either broker, and both let you place orders directly from price charts. If you want a downloadable Windows desktop platform, Pepperstone offers one, while Spreadex focuses on its web platform.
Pepperstone also supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) and offers copy trading, whereas Spreadex does not provide MT4/MT5 or copy trading. According to ForexBrokers.com, both earn 4 out of 5 stars for Trading Platforms and Tools; Pepperstone ranks 22nd out of 63 brokers in this category, while Spreadex ranks 47th.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading 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 |
| Charting - Indicators / Studies (Total) | 15 | 58 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Pepperstone and Spreadex offer iPhone and Android mobile trading apps with price alerts and real-time quote watchlists. Pepperstone stands out with watchlist syncing between mobile and web, so changes carry over, while Spreadex does not sync. Each app lets you draw trendlines on charts; Pepperstone also auto-saves those drawings, whereas Spreadex does not. Details about time‑frame selection (daily, weekly, intraday) were not provided for either app.
For charting depth, Pepperstone lists 30 built-in technical studies, while Spreadex’s count wasn’t disclosed. According to ForexBrokers.com, both apps earn 4 stars, yet Pepperstone ranks #21 out of 63 brokers for Mobile Trading Apps, ahead of Spreadex at #47. If you want more indicators, synced watchlists, and saved chart drawings, Pepperstone may be the better fit; if you only need core features on iOS or Android with alerts and watchlists, Spreadex covers the basics.
| 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 |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Pepperstone and Spreadex both deliver daily market commentary and forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones. Each offers Autochartist-powered technical analysis tools, a sentiment tool that shows long and short positioning, and an economic calendar covering global events. Neither provides Trading Central research, TipRanks content, or tools from Acuity Trading (including Signal Centre).
For ratings, Pepperstone holds an edge: 4.5 out of 5 stars and ranked #12 of 63 brokers for Research by ForexBrokers.com. Spreadex earns 4 out of 5 stars and ranks #32. If research is a priority, Pepperstone’s higher score and placement suggest a stronger overall experience, while Spreadex still covers the key essentials.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Client sentiment data | 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 to beginners with video lessons, and each has at least 10 beginner-focused videos on trading basics. Pepperstone goes further with at least 10 advanced videos for when you’re ready to level up, and it also runs live educational webinars at least once a month—great for asking questions and learning in real time. Spreadex does not host monthly webinars, which can make it harder to get that live classroom feel.
On quality, Pepperstone earns 4.5 out of 5 stars for Education and ranks #17 out of 63 brokers on ForexBrokers.com, while Spreadex scores 4 out of 5 stars and ranks #45. For beginners who want a clear learning path—with live sessions and room to grow—Pepperstone is the stronger pick. If you mainly want basic video tutorials and don’t need live webinars, Spreadex can still cover the essentials.
| 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 #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.
Comparing online brokers Pepperstone vs Spreadex, Pepperstone supports ACH/SEPA, PayPal, Skrill, and bank wire transfers for deposits and withdrawals, while Spreadex offers bank wires only and does not support ACH/SEPA, PayPal, or Skrill.
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 (SFC 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. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| Cryptocurrency (Underlying) | 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 | |
| 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) | Yes | 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 | |
| Social Trading / 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 | 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 | |
| Mobile Research - 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 | |
| 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 | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| 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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