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 (founded 2010) and Spreadex (founded 1999) are online brokers that are not publicly traded and are not banks. In terms of regulation, Pepperstone holds 3 Tier-1 licenses and 2 Tier-2 licenses, signaling a broader set of top-tier approvals. Spreadex holds 1 Tier-1 license and no Tier-2 licenses.
On ForexBrokers.com’s 99-point Trust Score, Pepperstone scores 94, which is considered highly trusted (90–99), while Spreadex scores 70, categorized as average risk (70–79). If regulatory coverage and independent trust ratings are priorities, Pepperstone has the edge based on these metrics.
| 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 comes out ahead on commissions and fees, especially for active traders. Its Razor account uses commission-based pricing and, as of July 2024, showed an average EUR/USD spread of 0.10 pips. Once the commission equivalent of 0.70 pips is added, the all-in cost is 0.80 pips, which is close to the industry average. Pepperstone’s Standard account is commission-free, but its average EUR/USD spread of 1.1 pips makes it more expensive than Razor. Pepperstone also offers an Active Trader program that can lower costs for high-volume clients through spread rebates. Pepperstone is rated 5 stars and ranked #6 out of 36 brokers for Commissions and Fees.
Spreadex is competitive, but its pricing is not as strong as Pepperstone’s best account. In January 2024, its average EUR/USD spread was 0.81 pips, with a minimum spread of 0.6 pips available 60% of the time during the month. While that can be appealing for some traders, Pepperstone’s Razor account still offers better overall value for those who trade frequently or qualify for rebates. Spreadex is rated 4 stars and ranked #26 out of 36 brokers for Commissions and Fees.
In simple terms, Pepperstone is the better choice for lower trading costs overall, particularly if you use the Razor account or qualify for Active Trader discounts. Spreadex may still suit traders looking for straightforward spread pricing, but it does not match Pepperstone’s combination of low spreads and fee savings for active clients.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $10 | $0 |
| Average spread (EUR/USD) - Spread-only account | 1.1 | 0.81 |
| All-in Cost EUR/USD - Raw spread account | 0.8 | N/A |
| Non-wire bank transfer (Deposit/Withdraw) | 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.
Pepperstone and Spreadex both let you trade forex as a CFD or spot contract, and both offer cryptocurrency CFDs. Pepperstone stands out for forex pairs, with 65 available compared with Spreadex’s 52, while Spreadex has a much larger overall list of tradeable symbols at 10,000 versus Pepperstone’s 2,631. Neither broker offers exchange-traded shares on U.S. or international stock exchanges, so you cannot buy actual shares such as Apple or Vodafone through either platform.
There are also a few clear differences in what else each broker offers. Pepperstone supports copy trading and lets you buy actual cryptocurrency, while Spreadex does not offer either of those features. Even so, Spreadex scores higher for range of investments overall, with 5 out of 5 stars and a #13 ranking out of 36 brokers from ForexBrokers.com, compared with Pepperstone’s 4 stars and #23 ranking. In short, Pepperstone may appeal more if you want more forex pairs and crypto flexibility, while Spreadex offers a wider total selection of markets.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 2631 | 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) | Yes | 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 give traders a choice of free demo accounts, web-based platforms, and their own in-house platforms, and both let you place trades straight from a price chart. Each broker also earns 4 out of 5 stars for trading platforms and tools, so neither is weak in this area. That said, Pepperstone offers a wider range of platform options overall, including a Windows desktop download, MetaTrader 4, MetaTrader 5, and copy trading, while Spreadex does not offer these extras.
For traders who want more platform variety and popular third-party tools, Pepperstone has the edge. Spreadex still covers the basics well with a demo account, browser platform, and proprietary platform, but its toolkit is more limited. This difference is also reflected in ForexBrokers.com’s rankings, where Pepperstone places #21 out of 36 brokers for trading platforms and tools, compared with #35 for Spreadex.
| 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) | 90 | 58 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and Spreadex both make it easy to trade on the go, with iPhone and Android apps, plus price alerts and trendline drawing tools in their mobile platforms. Both brokers are also rated 4 out of 5 stars for mobile trading apps, so each offers a solid experience for everyday trading from a phone or tablet.
That said, Pepperstone has the edge in a few useful areas. Its mobile app lets users sync watchlists with their online account, so changes update across devices, and it also auto-saves chart drawings. Pepperstone also offers 30 technical studies in its app, while Spreadex does not list technical studies in the same way. These extra features help explain why Pepperstone ranks higher for mobile trading apps, coming in at #19 out of 36 brokers, compared with Spreadex at #34.
| 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 give traders a solid mix of market research tools. Each broker offers daily market commentary, forex news from major sources such as Bloomberg, Reuters, and Dow Jones, a sentiment tool showing long and short positioning, and an economic calendar for tracking upcoming global events. Neither broker includes research from Trading Central, TipRanks, or Acuity Trading.
The main difference is that Spreadex includes Autochartist, while Pepperstone does not. That extra tool may appeal to traders who want more chart-based ideas and pattern recognition. Pepperstone still comes out ahead overall in research, with a 4.5-star rating and a ForexBrokers.com ranking of 13th out of 36 brokers, compared with Spreadex’s 4-star rating and 28th-place ranking.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | 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 is the stronger choice for beginners who want more help learning to trade. It offers forex and CFDs education with at least 10 relevant learning pieces, monthly live webinars, and more than 10 beginner videos, plus at least 10 advanced videos for traders who want to keep going. That extra variety is reflected in its 4.5-star Education rating and its #15 ranking out of 36 brokers for education.
Spreadex also gives beginners access to at least 10 beginner trading videos, but it falls behind Pepperstone in other key areas. It does not offer monthly educational webinars, and it does not meet the same standard for forex or CFDs education or advanced video content. Spreadex is rated 4 stars for Education and is ranked #34 out of 36 brokers by ForexBrokers.com, making it a more limited option for learners overall.
| 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 #33.
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 | 94 | 70 |
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Pepperstone and Spreadex both offer cryptocurrency CFDs, but Pepperstone also allows clients to buy actual delivered cryptocurrency, while Spreadex does not.
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 | 94 | 70 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | Spreadex Review |
| Broker Screenshots | Pepperstone | Spreadex | |
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| Regulation | Pepperstone | Spreadex | |
|---|---|---|---|
| Trust Score | 94 | 70 | |
| 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 CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Pepperstone | Spreadex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 2631 | 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) | Yes | 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) - Spread-only account | 1.1 | 0.81 | |
| All-in Cost EUR/USD - Raw spread account | 0.8 | N/A | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | Spreadex | |
|---|---|---|---|
| Minimum Deposit | $10 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | 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) | 90 | 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 | No | 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 | 94 | 70 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | Spreadex Review |
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