Written by ForexBrokers.com
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.
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 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
|
TopFX
|
|---|---|---|
| Year Founded | 2010 | 2010 |
| 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 | 1 |
Pepperstone and TopFX both offer competitive commission and fee structures for traders, but they cater to different needs. Pepperstone, rated 4.5 stars for commissions and fees and ranked 10th out of 63 brokers on ForexBrokers.com, shines with its Razor account. This account is suited for high-volume traders, boasting an average spread of 0.10 pips on the EUR/USD. When combined with a commission equivalent of 0.70 pips, the total cost is 0.80 pips, aligning closely with industry averages. In contrast, the Standard account is commission-free with higher average spreads of 1.1 pips, making it more expensive than the Razor account when accounting for commissions.
For those who trade actively, Pepperstone offers an Active Trader program that provides rebates on spreads depending on trading volume. In the UK and EU, traders can enjoy up to a 25% rebate for those who trade more than £200 million per month. In Australia, trading over 3001 lots monthly can reduce the effective spread by 30%. Meanwhile, TopFX, with a 4-star rating, ranks 40th. Their RAW account features commission-based pricing of 2.75 EUR per side and, with an average spread of 0.33 pips for EUR/USD, the all-in cost reaches 0.88 pips.
TopFX also provides the ZERO account, which is commission-free yet comes with higher average spreads of 1.03 pips on the EUR/USD. While Pepperstone's offerings might appeal more to high-volume traders looking for lower all-in costs, TopFX provides simple, straightforward options for traders seeking minimized setup hassles. Both brokers present models in line with industry norms, yet their rankings and reviews differ, reflecting varied trader priorities and patterns.
| Feature |
Pepperstone
|
TopFX
|
|---|---|---|
| Minimum Deposit | $0 | Depends on payment method |
| Average Spread EUR/USD - Standard | 1.00 | 1.03 |
| All-in Cost EUR/USD - Active | 0.70 | 0.88 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to the range of investments, both Pepperstone and TopFX offer clients the ability to trade forex either through CFDs or spot contracts. However, Pepperstone boasts a more extensive selection with 1,726 tradeable symbols, including 65 forex pairs. In contrast, TopFX provides 655 tradeable symbols and 60 forex pairs. It's important to note that neither platform offers exchange traded securities on U.S. or international exchanges, so clients looking to purchase stocks like Apple or Vodafone will need to look elsewhere.
For those interested in cryptocurrency, both brokers allow trading of crypto derivatives but not the direct purchase of cryptocurrencies. Additionally, each platform supports copy trading, providing opportunities for those looking to mirror the trades of experienced investors. Overall, Pepperstone holds a slightly higher rating with four stars for its range of investments, ranking 26th out of 63 brokers on ForexBrokers.com, compared to TopFX's 3.5 stars and 46th rank. This distinction underscores Pepperstone's broader investment options for traders exploring a diverse portfolio.
| Feature |
Pepperstone
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 655 |
| Forex Pairs (Total) | 65 | 60 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| 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 TopFX both offer traders a variety of options when it comes to trading platforms and tools, providing features like free virtual demo accounts, desktop and web-based platforms, and the ability to trade directly from chart interfaces. However, a standout feature is Pepperstone's proprietary platform, developed in-house, offering unique customization and integration options. Both brokers support MetaTrader 4, but Pepperstone also offers MetaTrader 5 and DupliTrade, giving it an edge in platform flexibility. TopFX, however, does not offer these tools, which may limit traders looking for the latest advancements in trading technology.
In terms of technical analysis features, Pepperstone provides 30 drawing tools for charting, doubling the offerings of TopFX, which could be a significant advantage for traders who rely heavily on charting for their strategies. Both platforms offer copy trading options, allowing users to mimic the trades of successful investors. When it comes to ranking, Pepperstone holds a higher position, at 22 out of 63 on ForexBrokers.com for Trading Platforms and Tools, while TopFX is ranked 45. Both are rated 4 out of 5 stars, indicating a generally favorable user experience, yet Pepperstone's wider selection of platforms and tools makes it more versatile for a range of trading preferences.
| Feature |
Pepperstone
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| 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 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and TopFX offer mobile trading apps for both iPhone and Android devices. Both apps provide essential features such as stock or forex price alerts, 30 technical studies for charting, and the ability to draw trendlines. Users can also view multiple time frames on charts and create watchlists with real-time quotes on both apps. However, Pepperstone offers an edge by enabling watchlist symbol syncing, which allows watchlists to sync with the client’s online account, ensuring seamless updates across platforms, a feature that TopFX lacks. Additionally, both apps support auto-saving of drawings on charts, promising convenience for traders managing their investments on the go.
In terms of performance ratings, both Pepperstone and TopFX score 4 out of 5 stars for their mobile trading apps. However, Pepperstone is ranked higher by ForexBrokers.com, securing the 21st position out of 63 brokers, compared to TopFX, which is positioned at 51st. This might influence those seeking a slightly more reputable solution in the mobile trading space. Ultimately, while both apps deliver a solid range of features essential for mobile trading, Pepperstone's higher ranking and additional watchlist syncing functionality could be deciding factors for traders choosing between the two.
| Feature |
Pepperstone
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| 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 TopFX are two online brokers that offer varying levels of market research tools and resources. Pepperstone excels by providing daily market commentary and top-tier forex news from sources like Bloomberg and Reuters, setting a strong foundation for informed trading. While both brokers utilize Autochartist for technical and fundamental analysis, Pepperstone lacks tools from Trading Central, where TopFX shines with its inclusion of such features. Sentiment-based trading tools are available with each broker, offering insight into market trends. Both companies offer an economic calendar to keep traders updated with global financial events, but neither provide market research from TipRanks or Acuity Trading.
When it comes to overall research quality, Pepperstone outperforms TopFX with a 4.5-star rating and a solid #12 ranking out of 63 brokers by ForexBrokers.com. In contrast, TopFX holds a 3-star rating and is ranked #60, suggesting that its research offerings may not meet the expectations of traders seeking comprehensive information and tools. For those who prioritize extensive and high-quality market insights, Pepperstone seems to offer more value and capability in its research services compared to TopFX.
| Feature |
Pepperstone
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For those venturing into the world of online trading, beginner-friendly educational resources are crucial. Pepperstone stands out significantly compared to TopFX in this regard. Pepperstone offers an extensive array of educational materials, including over ten articles, videos, and archived webinars focused on forex and CFDs. Additionally, they host regular client webinars each month and provide access to a searchable archive of these sessions, ensuring traders can learn at their own pace. Conversely, TopFX lacks the same depth in educational content, offering limited resources for those new to trading.
Pepperstone excels with a diverse selection of more than ten educational videos specifically designed for beginners, and they also provide materials for more advanced traders. Their investor dictionary is a helpful tool, offering definitions for over 50 investing terms, which can be invaluable for novices. TopFX, however, does not provide equivalent resources, placing them at a disadvantage for new traders seeking knowledge. This disparity is reflected in their ratings, with Pepperstone earning a commendable 4.5 stars for education, while TopFX trails with 3 stars. Pepperstone's dedication to education is further endorsed by their rank of 17th out of 63 brokers, in contrast to TopFX, which ranks 61st, underscoring a significant difference in the quality of educational offerings between the two platforms.
| Feature |
Pepperstone
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | 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 TopFX. Pepperstone finished with an overall rank of #16, while TopFX finished with an overall rank of #62.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 67 |
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Both Pepperstone and TopFX do not provide the option to purchase actual (delivered) cryptocurrency, but they both offer the capability to trade cryptocurrency derivatives.
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.
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 | TopFX | |
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| Trust Score | 95 | 67 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | TopFX Review |
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| Regulation | Pepperstone | TopFX | |
|---|---|---|---|
| Trust Score | 95 | 67 | |
| 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 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | TopFX | |
|---|---|---|---|
| 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) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Pepperstone | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Pepperstone | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 655 | |
| Forex Pairs (Total) | 65 | 60 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| 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 | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | 1.03 | |
| All-in Cost EUR/USD - Active | 0.70 | 0.88 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | TopFX | |
|---|---|---|---|
| Minimum Deposit | $0 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| 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 | TopFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | Yes | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| 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 | TopFX | |
|---|---|---|---|
| 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 | 30 | |
| 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 | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Pepperstone | TopFX | |
|---|---|---|---|
| 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 | TopFX Review |
| Overall | Pepperstone | TopFX | |
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| Trust Score | 95 | 67 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | TopFX Review |
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