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Pepperstone vs TopFX 2025

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025

In this head to head comparison of Pepperstone vs TopFX, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

Pepperstone
4.5/5 Stars Overall
  • Minimum Deposit: $0
  • Trust Score: 95
  • Tradeable Symbols (Total): 1726
TopFX
3.5/5 Stars Overall
  • Minimum Deposit: Depends on payment method
  • Trust Score: 67
  • Tradeable Symbols (Total): 655

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.

Regulation

Pepperstone and TopFX, both founded in 2010, are online brokers that offer trading services without being publicly traded or operating as banks. When it comes to trustworthiness, Pepperstone stands out with a ForexBrokers.com Trust Score of 95, placing it in the highly trusted category. TopFX, on the other hand, has a Trust Score of 67, indicating it falls into the high-risk category according to the same source.

In terms of regulatory credentials, Pepperstone boasts three Tier-1 licenses, signaling a high level of trust, along with two Tier-2 licenses. TopFX, however, holds only one Tier-1 license and does not have any Tier-2 licenses. This comparison highlights Pepperstone's stronger regulatory standing and higher trust score, offering traders a more secure environment.

Feature Pepperstone logoPepperstone
TopFX logoTopFX
Year Founded info 2010 2010
Publicly Traded (Listed) info No No
Bank info No No
Tier-1 Licenses info 3 1
Tier-2 Licenses info 2 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 2 1

Fees

Pepperstone and TopFX are prominent online brokers, each offering unique pricing structures suitable for different trading needs. Pepperstone excels with its Razor account, designed for high-volume traders through its Active Trader program. It offers a competitive all-in cost of 0.80 pips for EUR/USD when factoring in both the average spread of 0.10 pips and a 0.70 pips commission equivalent. However, their Standard account is less attractive, presenting higher spreads of 1.1 pips and being commission-free. Pepperstone is highly rated with 4.5 stars for commissions and fees, and ranks #10 out of 62 brokers in this category.

TopFX provides traders the choice between two account types: the spread-only ZERO account and the commission-based RAW account, both available on MetaTrader and cTrader platforms. The RAW account has an all-in cost of about 0.88 pips for EUR/USD, considering a 0.33 pips spread and a commission of 5.50 EUR per round-turn standard lot. Meanwhile, the ZERO account avoids commissions but comes with a higher spread of 1.03 pips. TopFX has earned a solid 4-star rating for its commissions and fees, positioning itself at #40 in the rankings among 62 brokers.

In terms of cost-effectiveness, Pepperstone's Razor account is slightly more competitive than TopFX's options, benefiting active traders with rebates and tiered discounts. These features complement its edge for those trading at high volumes. Conversely, TopFX offers straightforward alternatives that may appeal to traders seeking simplicity with either commission-based or spread-only models.

Feature Pepperstone logoPepperstone
TopFX logoTopFX
Minimum Deposit info $0 Depends on payment method
Average Spread EUR/USD - Standard info 1.00 info 1.03 info
All-in Cost EUR/USD - Active info 0.70 info 0.88 info
Active Trader or VIP Discounts info Yes No
ACH or SEPA Transfers info Yes No
PayPal (Deposit/Withdraw) info Yes Yes
Skrill (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

Pepperstone and TopFX both provide forex trading as a core offering, allowing clients to engage in forex trading through CFDs or spot contracts. When it comes to the overall range of investments, Pepperstone stands out with a vast selection of 1,726 tradeable symbols, including 65 forex pairs, compared to TopFX’s 655 tradeable symbols and 60 forex pairs. However, neither broker offers the opportunity to buy actual exchange-traded securities on U.S. or international exchanges, nor do they facilitate purchasing real cryptocurrencies—clients can only trade crypto derivatives.

Both brokers support copy trading, a feature that appeals to traders looking to mirror the strategies of seasoned investors. While TopFX garners a respectable rating of 3.5 stars for its range of investments, Pepperstone takes a slight edge with 4 stars in the same category. Ranking-wise, Pepperstone holds the 26th spot out of 62 brokers according to ForexBrokers.com, while TopFX is ranked at 46th for their investment offerings. This positioning reflects Pepperstone's broader selection, catering to traders looking for a wider array of financial instruments.

Feature Pepperstone logoPepperstone
TopFX logoTopFX
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 1726 655
Forex Pairs (Total) info 65 60
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No No
Social Trading / Copy Trading info Yes Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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.

Trading platforms and tools

When comparing Pepperstone and TopFX for their trading platforms and tools, both brokers offer simulated trading with free demo accounts, allowing new traders to practice without financial risk. Pepperstone provides a proprietary trading platform developed in-house, whereas TopFX does not feature this option. Both brokers support Windows-based desktop platforms and browser-based trading, offering flexibility to traders who prefer different devices. Copy trading is available on both, with Pepperstone supporting DupliTrade but not ZuluTrade, similar to TopFX, which does not offer either.

Pepperstone and TopFX both offer the popular MetaTrader 4 platform, but only Pepperstone provides access to the newer MetaTrader 5. Regarding charting tools, Pepperstone users benefit from 30 drawing tools, double what TopFX offers. Traders can execute trades directly from stock charts on both platforms. Each broker provides watch lists with seven customizable fields. Ratings for trading platforms and tools are even at four stars, but Pepperstone ranks higher at number 22 compared to TopFX's 44 in a comparison of 62 brokers by ForexBrokers.com.

Feature Pepperstone logoPepperstone
TopFX logoTopFX
Virtual Trading (Demo) info Yes Yes
Proprietary Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes No
DupliTrade info Yes No
ZuluTrade info No No
Charting - Indicators / Studies (Total) info 15 30
Charting - Drawing Tools (Total) info 30 15
Charting - Trade From Chart info Yes Yes
Watchlists - Total Fields info 7 7
View More

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

Both Pepperstone and TopFX provide impressive mobile trading apps that support iPhone and Android devices, ensuring that traders have access to their accounts on the go. Both apps allow users to set up stock or forex price alerts, ensuring that investors stay informed about market movements. They also offer the capability to draw trendlines on charts and view different time frames such as daily, weekly, or intraday. A notable difference between the two is that Pepperstone supports watchlist symbol syncing, which lets users update and access their watchlists seamlessly across their mobile and online accounts, whereas TopFX does not provide this feature.

When it comes to charting tools, both brokers support 30 technical studies, providing traders with a variety of analytical options. Additionally, their apps auto-save drawings on charts and allow the creation of watchlists with real-time quotes, offering practical features for market analysis. Pepperstone's mobile app has secured a four-star rating and ranks 21st out of 62 brokers by ForexBrokers.com in the Mobile Trading Apps category, highlighting a higher overall endorsement than TopFX, which also boasts a four-star rating but ranks 51st. While both apps offer solid functionality, Pepperstone's edge in ranking and sync capability makes it slightly more appealing for on-the-go traders seeking seamless integration with their online accounts.

Feature Pepperstone logoPepperstone
TopFX logoTopFX
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Watchlist Syncing info Yes No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes Yes
Mobile Watchlist info Yes Yes

Dive deeper: Best Forex Trading Apps.

Market research

Pepperstone and TopFX both provide several valuable research tools and resources, but there are some notable differences to consider. Pepperstone excels in offering daily market commentary and delivers forex news from recognized sources like Bloomberg and Reuters. It features tools from Autochartist for both technical and fundamental analysis and offers a sentiment-based trading tool to aid in decision-making. Additionally, Pepperstone provides an economic calendar that highlights important global news events, earning it a solid 4.5-star research rating and the #12 rank out of 62 brokers, according to ForexBrokers.com.

On the other hand, TopFX shares Pepperstone's strengths in terms of forex news from top-tier sources, tools from Autochartist, a sentiment-based trading tool, and a comprehensive economic calendar. However, TopFX distinguishes itself by including tools from Trading Central, which Pepperstone does not offer. Despite this, TopFX does not provide daily market commentary, which might be a drawback for traders seeking daily insights. This absence of certain features reflects in its lower 3-star rating and #59 ranking in the Research category by ForexBrokers.com.

Feature Pepperstone logoPepperstone
TopFX logoTopFX
Daily Market Commentary info Yes No
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes Yes
Trading Central (Recognia) info No Yes
Social Sentiment - Currency Pairs info Yes Yes
TipRanks info No No
Signal Centre (Acuity Trading) info No No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

When it comes to educational resources for beginners, Pepperstone clearly stands out compared to TopFX. Pepperstone provides a comprehensive array of educational materials, including more than 10 pieces focusing on forex or CFDs. Additionally, they host monthly online educational webinars and maintain a searchable archive for clients to revisit these sessions. Their commitment to education is further demonstrated with beginner-friendly content, offering over 10 videos specifically designed to help newcomers understand trading basics. In contrast, TopFX does not meet these benchmarks, lacking in both the quantity and accessibility of educational resources, such as webinars and video content for beginners.

Pepperstone also extends its educational support to more experienced traders with advanced videos and offers an investor dictionary featuring over 50 investing terms. These resources contribute to Pepperstone's impressive education rating, earning them a 4.5-star rating and an 18th place ranking out of 62 brokers by ForexBrokers.com. TopFX, on the other hand, does not offer the same level of advanced resources or a comprehensive investor dictionary, resulting in a lower education rating of 3 stars and a ranking of 60th out of 62 brokers. For those seeking thorough educational support in their trading journey, Pepperstone clearly emerges as the more resourceful choice compared to TopFX.

Feature Pepperstone logoPepperstone
TopFX logoTopFX
Education (Forex or CFDs) info Yes No
Client Webinars info Yes No
Client Webinars (Archived) info Yes No
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No
Investor Dictionary (Glossary) info Yes No

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 62 of the best forex brokers, our research and account testing finds that Pepperstone is better than TopFX. Pepperstone finished with an overall rank of #16, while TopFX finished with an overall rank of #61.

Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.

Feature Pepperstone logoPepperstone
TopFX logoTopFX
Overall Rating info 4.5/5 Stars 3.5/5 Stars
Trust Score info 95 67
Range of Investments 4/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Research 4.5/5 Stars 3/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Education 4/5 Stars 3/5 Stars

FAQs

Can you trade cryptocurrency with Pepperstone or TopFX?

Both Pepperstone and TopFX do not provide the option to purchase actual (delivered) cryptocurrency, but they both offer the capability to trade cryptocurrency derivatives.

What funding options does each broker offer?

Pepperstone and TopFX both support PayPal, Skrill, Visa, Mastercard, and bank wires for depositing or withdrawing funds, but only Pepperstone offers ACH or SEPA transfers as an additional option.




announcementPlease 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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Compare

0 of 5
Overall Rating Pepperstone TopFX
Overall Rating info 4.5/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Range of Investments 4/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4.5/5 Stars 3/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score info 95 67
Winner check_circle
Review Pepperstone Review TopFX Review
Broker Screenshots Pepperstone TopFX
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation Pepperstone TopFX
Trust Score info 95 67
Year Founded info 2010 2010
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-1 Licenses info 3 1
Tier-2 Licenses info 2 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 2 1
Tier-1 Licenses (Highly Trusted) Pepperstone TopFX
Australia (ASIC Authorised) info Yes No
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses (Trusted) Pepperstone TopFX
Kenya (CMA Authorised) info Yes No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA/Central Bank Authorised) info Yes No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments Pepperstone TopFX
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 1726 655
Forex Pairs (Total) info 65 60
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No No
Social Trading / Copy Trading info Yes Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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 TopFX
Average Spread EUR/USD - Standard info 1.00 info 1.03 info
All-in Cost EUR/USD - Active info 0.70 info 0.88 info
Active Trader or VIP Discounts info Yes No
Inactivity Fee info No No
Execution: Agency Broker info Yes No
Execution: Market Maker info Yes Yes
Funding Pepperstone TopFX
Minimum Deposit info $0 Depends on payment method
PayPal (Deposit/Withdraw) info Yes Yes
Skrill (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info Yes No
Trading Platforms Pepperstone TopFX
Proprietary Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes No
cTrader info Yes Yes
DupliTrade info Yes No
ZuluTrade info No No
Trading Tools Pepperstone TopFX
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 7 7
Charting - Indicators / Studies (Total) info 15 30
Charting - Drawing Tools (Total) info 30 15
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading Pepperstone TopFX
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info Yes No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes Yes
Mobile Economic Calendar info Yes Yes
Research Pepperstone TopFX
Daily Market Commentary info Yes No
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes Yes
Trading Central (Recognia) info No Yes
TipRanks info No No
Social Sentiment - Currency Pairs info Yes Yes
Economic Calendar info Yes Yes
Education Pepperstone TopFX
Education (Forex or CFDs) info Yes No
Client Webinars info Yes No
Client Webinars (Archived) info Yes No
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No
Investor Dictionary (Glossary) info Yes No
Major Forex Pairs Pepperstone TopFX
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review Pepperstone Review TopFX Review
Overall Pepperstone TopFX
Overall Rating info 4.5/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Range of Investments 4/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4.5/5 Stars 3/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score info 95 67
Winner check_circle
Review Pepperstone Review TopFX Review
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