Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs Trade Nation, 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 in 2010, and Trade Nation, established in 2014, are both popular online brokers that are not publicly traded or banks. According to ForexBrokers.com, Pepperstone boasts a high Trust Score of 95 out of 99, showcasing its high level of reliability and customer confidence. It holds three Tier-1 licenses, marking it as a highly trusted entity, and two Tier-2 licenses, adding to its credibility.
Trade Nation, with a Trust Score of 85, is also deemed a trusted broker by ForexBrokers.com. The broker has two Tier-1 licenses and one Tier-2 license, reflecting its commitment to regulatory compliance and customer trust. Both brokers maintain solid reputations, but Pepperstone edges ahead in trustworthiness, as judged by ForexBrokers.com's ratings, making it a compelling choice for investors seeking secure trading environments.
| Feature |
Pepperstone
|
Trade Nation
|
|---|---|---|
| Year Founded | 2010 | 2014 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 2 |
Pepperstone and Trade Nation take different paths on pricing, and their scores reflect that: Pepperstone earns 4.5/5 stars and ranks #11 out of 63 for commissions and fees, while Trade Nation earns 5/5 stars and ranks #7. Pepperstone appeals to cost-focused traders who can use its Razor account and volume-based rebates, whereas Trade Nation stands out for easy-to-understand fixed spreads on its proprietary platform, with a MetaTrader option for those who prefer variable pricing or a commission-based raw spread model.
Pepperstone’s Razor account (TradingView, MT4/MT5, or cTrader) uses a commission-plus-spread model: the EUR/USD averaged 0.10 pips (July 2024), and when you include the commission-equivalent of 0.70 pips, the all-in cost is about 0.80 pips—near the industry average. The Standard account is commission-free but wider at about 1.1 pips on EUR/USD. High-volume traders can lower costs further with Pepperstone’s Active Trader program: in the U.K./EU, professional clients trading at least £20 million per month can get a 15% spread rebate per lot, rising to 25% for more than £200 million per month; in Australia, professional clients can earn 10% to 30% spread reductions depending on tier (starting from 100 lots over three months, with the top tier above 3001 lots monthly).
Trade Nation offers fixed spreads on its TN Trader platform—EUR/USD is listed at 0.6 pips—so pricing stays consistent as quotes move, except for a brief daily rollover window when spreads can widen to about 1.4 pips (pushing the true average closer to 1 pip over time). On MetaTrader, you can choose a commission-based Raw Spread account that charges $3.50 per side ($7 per round trip) per standard lot, or a commission-free account with higher spreads. In practice, TN Trader typically delivers the lowest all-in costs among Trade Nation’s accounts, and its fixed pricing model makes fees easier to anticipate compared with Pepperstone’s variable spreads—though Pepperstone’s Razor plus volume rebates can edge out Trade Nation for active traders during most trading hours.
| Feature |
Pepperstone
|
Trade Nation
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.00 | 0.6 |
| All-in Cost EUR/USD - Active | 0.70 | 0.6 |
| Active Trader or VIP Discounts | Yes | No |
| 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 offers a broader range of investments than Trade Nation, with 1,726 tradeable symbols versus Trade Nation’s 1,000. Forex traders get 65 currency pairs at Pepperstone compared with 46 at Trade Nation. Both brokers let you trade forex as CFDs or spot, support copy trading, and offer cryptocurrency derivatives; however, neither lets you buy actual crypto. If you want to buy real shares, note that neither broker provides direct access to U.S. or international stock exchanges—they focus on derivatives rather than exchange-traded securities.
Independent ratings reflect this difference: Pepperstone earns 4 stars for Range of Investments and ranks 27th out of 63 brokers on ForexBrokers.com, while Trade Nation scores 3.5 stars and ranks 39th. In short, Pepperstone suits traders seeking more markets and forex pairs, while Trade Nation covers the essentials with a smaller but still meaningful lineup.
| Feature |
Pepperstone
|
Trade Nation
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 1000 |
| Forex Pairs (Total) | 65 | 46 |
| 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 Trade Nation both make it easy to get started with a free demo account and each offers a proprietary platform alongside MetaTrader 4 (MT4). You can trade on Windows desktop and in your browser with either broker, and both support copy trading. Key differences: Pepperstone adds MetaTrader 5 (MT5) and DupliTrade, while Trade Nation does not. Neither supports ZuluTrade. Pepperstone also lets you place trades directly from charts, a feature Trade Nation lacks.
For charting tools, Trade Nation lists more drawing tools (39 vs. Pepperstone’s 30) and offers more watchlist fields (14 vs. 7). Despite both earning 4 stars for Trading Platforms and Tools, ForexBrokers.com ranks Pepperstone higher (#22 of 63) than Trade Nation (#45 of 63). Bottom line: choose Pepperstone if you want MT5, DupliTrade, or chart-based trading; pick Trade Nation if you value more drawing tools and deeper watchlist customization.
| Feature |
Pepperstone
|
Trade Nation
|
|---|---|---|
| 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 | No |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 115 |
| Charting - Drawing Tools (Total) | 30 | 39 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 7 | 14 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and Trade Nation both deliver full-featured mobile trading on iPhone and Android. Each app lets you create real-time watchlists that sync with your online account, set stock and forex price alerts, draw trendlines, view multiple time frames (intraday to weekly), and autosave your chart drawings—so your work carries over between devices.
For charting depth, Trade Nation packs in 99 technical studies versus Pepperstone’s 30. Both earn a 4 out of 5 rating for Mobile Trading Apps, yet Pepperstone holds a higher category ranking (#21 of 63) than Trade Nation (#46 of 63) on ForexBrokers.com. Prefer more built-in indicators? Trade Nation has the edge. Want an app from a broker with a stronger category placement? Pepperstone is the pick.
| Feature |
Pepperstone
|
Trade Nation
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 30 | 99 |
| 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 Trade Nation both cover the basics well for market research: each offers daily market commentary and forex news sourced from major outlets like Bloomberg, Reuters, and Dow Jones. For tools, Pepperstone stands out with Autochartist for technical patterns and trade ideas, plus a handy economic calendar to track upcoming events. Trade Nation does not provide Autochartist or an economic calendar, but it does include Acuity Trading’s Signal Centre for trade signals. Neither broker uses Trading Central or TipRanks, and both offer a sentiment tool showing long/short positioning across markets.
In independent testing by ForexBrokers.com, Pepperstone earns 4.5/5 stars for Research and ranks #12 out of 63 brokers, while Trade Nation scores 3.5/5 stars and ranks #43. If you want deeper chart-driven insights and event tracking, Pepperstone is the stronger fit. If you prefer straightforward signals from Acuity along with daily commentary and sentiment data, Trade Nation covers those needs.
| Feature |
Pepperstone
|
Trade Nation
|
|---|---|---|
| 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 | No |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available from Pepperstone and Trade Nation, both brokers provide a wealth of information for those interested in forex and CFDs, each boasting over ten educational pieces like articles, videos, and archived webinars. Pepperstone, however, sets itself apart by offering monthly online educational webinars and a searchable archive of past sessions, which Trade Nation lacks. This can be particularly beneficial for beginners seeking ongoing interactive learning experiences in real-time as well as a way to revisit crucial topics.
In terms of educational videos tailored to specific skill levels, both Pepperstone and Trade Nation provide at least ten beginner-friendly videos and an additional ten for advanced traders, ensuring a wide range of content suited to different levels of experience. Moreover, both brokers offer an extensive investor dictionary featuring over fifty trading terms to help newcomers become familiar with industry language. Overall, Pepperstone ranks higher both for its breadth of resources and its superior education rating of 4.5 out of 5 stars compared to Trade Nation's 3.5, placing them at #17 and #41 respectively out of 63 brokers by ForexBrokers.com.
| Feature |
Pepperstone
|
Trade Nation
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| 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 Trade Nation. Pepperstone finished with an overall rank of #16, while Trade Nation finished with an overall rank of #34.
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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Trade Nation
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|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 85 |
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Both Pepperstone and Trade Nation do not offer the ability to buy actual delivered cryptocurrencies, however, they both provide the option to trade cryptocurrency derivatives.
Pepperstone offers versatile fund transfer options including ACH, SEPA, and PayPal, alongside Visa, Mastercard, Skrill, and bank wires, whereas Trade Nation supports Visa, Mastercard, Skrill, and bank wires but lacks ACH, SEPA, and PayPal as deposit or withdrawal methods.
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 | Trade Nation | |
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| Trust Score | 95 | 85 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | Trade Nation Review |
| Broker Screenshots | Pepperstone | Trade Nation | |
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| Regulation | Pepperstone | Trade Nation | |
|---|---|---|---|
| Trust Score | 95 | 85 | |
| Year Founded | 2010 | 2014 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 2 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | Trade Nation | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC 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 | Trade Nation | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Pepperstone | Trade Nation | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 1000 | |
| Forex Pairs (Total) | 65 | 46 | |
| 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 | Trade Nation | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | 0.6 | |
| All-in Cost EUR/USD - Active | 0.70 | 0.6 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | Trade Nation | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| 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 | Trade Nation | |
|---|---|---|---|
| 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 | No | |
| cTrader | Yes | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | Trade Nation | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 14 | |
| Charting - Indicators / Studies (Total) | 15 | 115 | |
| Charting - Drawing Tools (Total) | 30 | 39 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | No |
| Mobile Trading | Pepperstone | Trade Nation | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 99 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | No |
| Research | Pepperstone | Trade Nation | |
|---|---|---|---|
| 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 | No |
| Education | Pepperstone | Trade Nation | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Pepperstone | Trade Nation | |
|---|---|---|---|
| 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 | Trade Nation Review |
| Overall | Pepperstone | Trade Nation | |
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| Trust Score | 95 | 85 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | Trade Nation Review |
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