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 and ThinkMarkets offer distinct options when it comes to commissions and fees, catering to various trader preferences. Pepperstone, an agency-execution broker, shines with its Razor account, particularly when paired with the Active Trader program for high-volume traders. The Razor account, using platforms such as TradingView, MetaTrader, or cTrader, offers competitive pricing with an average spread of 0.10 pips for EUR/USD, resulting in an all-in cost of 0.80 pips after commissions, which is industry average. Conversely, Pepperstone's Standard account is commission-free but has a higher average spread of 1.1 pips, making the Razor account more favorable except for those preferring simplicity over cost efficiency. Pepperstone stands out with a 4.5-star rating, ranking 10th out of 63 brokers for commissions and fees according to ForexBrokers.com.
ThinkMarkets does not currently offer average spread data, which can make it challenging for traders to directly compare it to competitors like Pepperstone. Despite this, ThinkMarkets earns a solid 4-star rating for its commissions and fees, although it ranks 47th out of 63 brokers in the same category by ForexBrokers.com. Without specific spread information, traders may need to explore further to understand the potential costs associated with ThinkMarkets, keeping in mind its respectable star rating that suggests competitive offerings.
Pepperstone provides additional benefits for active traders by rebating part of the spread based on monthly trade volume, with specific programs available for traders in the UK, EU, and Australia. This rebate structure makes Pepperstone particularly appealing for those trading in large volumes. While ThinkMarkets does not present detailed spread data, it continues to maintain a reputable presence with its offerings, especially for traders who are looking for robust trade execution and potentially beneficial commission structures without the need for detailed data comparisons.
| 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.
Pepperstone and ThinkMarkets both offer forex trading through CFDs or spot contracts, catering to traders looking to engage in the foreign exchange market. Pepperstone provides access to 1,726 tradeable symbols, including 65 forex pairs, while ThinkMarkets boasts a broader range of 4,000 tradeable symbols, albeit with slightly fewer forex pairs at 46. When it comes to exchange-traded securities, neither broker allows direct purchases on U.S. exchanges. However, ThinkMarkets has an edge with the possibility of buying international exchange-traded securities like Vodafone shares, which is not available through Pepperstone. Both brokers facilitate cryptocurrency derivatives trading, though neither offers the option to buy actual cryptocurrencies.
In addition to their similar offerings in forex and cryptocurrency derivatives, both Pepperstone and ThinkMarkets support copy trading, appealing to investors who might prefer mirroring the strategies of experienced traders. Despite having an extensive list of available investments, each broker is rated differently in terms of their range of investment offerings. ForexBrokers.com ranks ThinkMarkets slightly higher at #22 with a 4.5-star rating, compared to Pepperstone, which ranks #26 with a 4-star rating in the same category. This slight difference indicates ThinkMarkets' marginally more extensive investment options and investor resources.
| 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 provide daily market commentary and access to forex news from top-tier sources such as Bloomberg and Reuters, ensuring that traders stay well-informed. While they both offer sentiment-based trading tools to analyze long or short positions across various instruments, only Pepperstone provides technical analysis tools from Autochartist, which is a notable advantage for those who rely on advanced research. Conversely, ThinkMarkets stands out with its inclusion of research tools from Acuity Trading, like the Signal Centre, offering unique insights to its clients.
Both brokers offer economic calendars to keep traders abreast of upcoming global events, but their overall research services differ in quality and breadth. Pepperstone earns a research rating of 4.5 stars from ForexBrokers.com and ranks #12 out of 63 brokers, emphasizing its superior research capabilities. On the other hand, ThinkMarkets receives a 3.5-star rating and ranks #50, indicative of its more limited offerings compared to Pepperstone. Potential clients may find Pepperstone a more appealing choice if research tools and resources are a priority in their trading journey.
| 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
|
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 |
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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) | No | No | |
| 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 | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| 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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