Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs ThinkMarkets, 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 ThinkMarkets, both founded in 2010, are respected names in online trading, but there are distinct differences in their regulatory standing. Pepperstone holds a high ForexBrokers.com Trust Score of 95, supported by three highly regarded Tier-1 licenses and two additional Tier-2 licenses. Meanwhile, ThinkMarkets has a slightly lower Trust Score of 92 but surpasses Pepperstone with five Tier-1 licenses, ensuring a sound regulatory foundation.
Neither Pepperstone nor ThinkMarkets is publicly traded or operates as a bank. Both brokers offer a secure trading environment, but ThinkMarkets edges out with a slightly larger number of top-level licenses. Whether you prioritize a higher trust score or a broader regulatory reach, both brokers provide trustworthy platforms for your trading activities.
| Feature |
Pepperstone
|
ThinkMarkets
|
|---|---|---|
| Year Founded | 2010 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 5 |
| Tier-2 Licenses | 2 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 3 |
Pepperstone stands out for commissions and fees, earning 4.5 out of 5 stars and ranking #11 of 63 brokers with ForexBrokers.com. ThinkMarkets earns 4 out of 5 stars and ranks #48 of 63. Pepperstone’s pricing is clearer and typically sharper for active traders, while ThinkMarkets does not publish average spread data, making direct price comparisons harder.
Pepperstone’s Razor account uses commission-based pricing on TradingView, MetaTrader (MT4/MT5), or cTrader. As of July 2024, the EUR/USD showed a 0.10‑pip average spread; when you add the commission-equivalent of 0.70 pips, the all-in cost lands at 0.80 pips—around the industry average. The Standard account is commission-free but listed an average EUR/USD spread of 1.1 pips, making it pricier than Razor for the same trade.
High-volume traders can cut costs further with Pepperstone’s Active Trader program. In the U.K. and EU, professional clients trading at least £20 million per month can receive a 15% per-lot rebate on spreads, rising to 25% above £200 million. In Australia, professional clients qualify with at least 100 lots over three months; Tier One discounts spreads by 10% per standard lot, and Tier Three (3,001+ lots monthly) trims spreads by 30%. ThinkMarkets offers fewer publicly available pricing details, which, combined with its lower ranking, suggests Pepperstone may be the more cost-efficient pick for frequent traders.
| Feature |
Pepperstone
|
ThinkMarkets
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 1.00 | 1.1 |
| All-in Cost EUR/USD - Active | 0.70 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing Pepperstone vs ThinkMarkets on range of investments: ThinkMarkets lists about 4,000 tradeable symbols, while Pepperstone offers 1,726. Both let you trade forex either as CFDs or spot, but Pepperstone provides a wider choice of currency pairs (65 vs 46). Each broker supports copy trading. For crypto, neither lets you buy actual coins, but both offer cryptocurrency derivatives for trading.
Share dealing differs: neither broker offers U.S.-listed shares as real, exchange-traded securities, and only ThinkMarkets lets you buy international shares directly; Pepperstone does not. Reflecting this coverage, ForexBrokers.com rates ThinkMarkets 4.5 out of 5 stars for Range of Investments (ranked 24th of 63), while Pepperstone earns 4 out of 5 stars (ranked 27th of 63). If you want the largest overall selection of instruments, ThinkMarkets has the edge, whereas dedicated forex traders may prefer Pepperstone’s deeper list of pairs.
| Feature |
Pepperstone
|
ThinkMarkets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 4000 |
| Forex Pairs (Total) | 65 | 46 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | Yes |
| 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.
Pepperstone and ThinkMarkets both offer a comprehensive suite of trading platforms and tools, catering to the needs of various traders. Both brokers provide demo accounts for paper trading, making them accessible for beginners looking to practice without financial risk. They each offer a proprietary platform, a Windows-based desktop download option, and a web-based platform for flexible trading. Additionally, both Pepperstone and ThinkMarkets support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), accommodating traders familiar with these popular systems. Copy trading features are available from both brokers, although only Pepperstone supports DupliTrade, which may appeal to those interested in that specific offering. Neither broker currently backs ZuluTrade.
Though Pepperstone and ThinkMarkets both hold a satisfactory four-star rating for their trading platforms and tools, there are slight differences that might influence a trader’s choice. Pepperstone provides 30 drawing tools for charting, doubling ThinkMarkets’ 15 options. Conversely, ThinkMarkets excels in customization, offering 15 columns for watch lists compared to Pepperstone’s seven. When rated by ForexBrokers.com among 63 brokers, Pepperstone ranks 22nd, slightly ahead of ThinkMarkets at 28th. These distinctions, along with the ability to trade directly from stock charts, provide traders with solid options when deciding between the two brokers.
| Feature |
Pepperstone
|
ThinkMarkets
|
|---|---|---|
| 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) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 30 |
| Charting - Drawing Tools (Total) | 30 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 15 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Pepperstone and ThinkMarkets offer mobile trading apps for iPhone and Android, catering to traders who prefer to manage their portfolios on the go. When it comes to alerts, both platforms provide stock and forex price notifications, ensuring that users stay updated with the latest market conditions. While both apps allow users to create watchlists with real-time quotes, only Pepperstone syncs these watchlists with their online accounts, meaning any changes made on the mobile app are reflected online, and vice versa.
In terms of charting tools, Pepperstone provides 30 technical studies for its mobile app, while ThinkMarkets offers a more extensive selection with 94 studies. Both apps allow traders to draw trendlines and view multiple time frames, such as daily, weekly, or intraday. Additionally, both platforms auto-save chart drawings. Ratings for mobile trading apps are strong across the board, with both Pepperstone and ThinkMarkets earning 4 out of 5 stars. However, in the ForexBrokers.com rankings, ThinkMarkets narrowly edges out Pepperstone, coming in at 20th compared to Pepperstone's 21st out of 63 brokers assessed.
| Feature |
Pepperstone
|
ThinkMarkets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 94 |
| 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.
Pepperstone and ThinkMarkets both cover the essentials for market research: daily market commentary, forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, a sentiment tool showing long/short positioning, and an economic calendar. The key differences lie in extra tools. Pepperstone includes Autochartist for trade ideas, while ThinkMarkets does not. Neither broker provides Trading Central or TipRanks. In contrast, ThinkMarkets offers research from Acuity Trading (e.g., Signal Centre), which Pepperstone doesn’t include.
These distinctions show up in their research scores. Pepperstone is rated 4.5 out of 5 stars and ranks #12 out of 63 brokers for Research on ForexBrokers.com, whereas ThinkMarkets scores 3.5 stars and ranks #51. If you value Autochartist-driven setups alongside premium news, Pepperstone is the stronger option; if you prefer Acuity Trading insights with similar core features, ThinkMarkets may be a better fit.
| Feature |
Pepperstone
|
ThinkMarkets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Pepperstone and ThinkMarkets both excel in providing a variety of educational resources specifically tailored for beginner traders interested in forex and CFDs. They each offer a library of over ten educational pieces including articles, videos, and archived webinars, ensuring new traders have ample materials to start their learning journey. Additionally, both brokers conduct regular online educational webinars, held at least once a month, and maintain a searchable archive of these sessions for client access anytime. Whether you're just starting or looking to deepen your understanding, both Pepperstone and ThinkMarkets offer comprehensive resources like beginner-focused videos and an investor dictionary with over 50 listed terms.
When it comes to educational offerings, Pepperstone generally stands out with higher ratings and rankings. It boasts a 4.5-star education rating and is ranked 17th among 63 brokers by ForexBrokers.com. Their resources include not only beginner videos but also advanced educational content aimed at more experienced traders. Meanwhile, ThinkMarkets has a 3.5-star rating and sits at 52nd in rank, which might influence those prioritizing top-rated educational support in their decision-making process. For traders prioritizing an extensive and highly-rated educational experience, Pepperstone might be the preferred choice. However, both brokers present an excellent starting point for anyone new to trading.
| Feature |
Pepperstone
|
ThinkMarkets
|
|---|---|---|
| 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 Pepperstone is better than ThinkMarkets. Pepperstone finished with an overall rank of #16, while ThinkMarkets finished with an overall rank of #27.
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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ThinkMarkets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 92 |
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Both Pepperstone and ThinkMarkets do not offer the option to purchase actual cryptocurrencies, but they both provide the ability to trade cryptocurrency derivatives.
Pepperstone stands out with its versatility in deposit and withdrawal options by supporting ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, while ThinkMarkets provides flexibility with Skrill, Visa, Mastercard, and bank wires but lacks support for ACH, SEPA, and PayPal.
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 | ThinkMarkets | |
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| Trust Score | 95 | 92 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
| Broker Screenshots | Pepperstone | ThinkMarkets | |
|---|---|---|---|
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| Regulation | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| Trust Score | 95 | 92 | |
| Year Founded | 2010 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 5 | |
| Tier-2 Licenses | 2 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 3 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | Yes | |
| 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 | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 4000 | |
| Forex Pairs (Total) | 65 | 46 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| 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 | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | 1.1 | |
| All-in Cost EUR/USD - Active | 0.70 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 15 | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Drawing Tools (Total) | 30 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| 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 | 94 | |
| 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 | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| 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 | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| 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 |
| Overall | Pepperstone | ThinkMarkets | |
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| Trust Score | 95 | 92 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
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