Written by ForexBrokers.com
In this head to head comparison of XM Group vs Pepperstone, 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.
XM Group (founded 2009) and Pepperstone (founded 2010) are not publicly traded and are not banks. According to ForexBrokers.com, XM Group holds a Trust Score of 93/99 and Pepperstone scores 95/99; both fall in the 90–99 range, meaning they are considered highly trusted.
On regulation, XM Group holds 4 Tier-1 licenses and 1 Tier-2 license, while Pepperstone holds 3 Tier-1 licenses and 2 Tier-2 licenses. Tier-1 regulators are viewed as the most stringent by ForexBrokers.com, helping explain the high trust ratings for both brokers.
| Feature |
XM Group
|
Pepperstone
|
|---|---|---|
| Year Founded | 2009 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 3 |
| Tier-2 Licenses | 1 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
Pepperstone edges out XM Group on commissions and fees. Pepperstone earns 4.5/5 stars and ranks #6 out of 63 brokers at ForexBrokers.com, while XM Group holds 4/5 stars and ranks #34. If you’re chasing lower trading costs, Pepperstone generally offers better value—especially for active traders—whereas XM’s pricing is harder to pin down on its commission account and its Standard spreads are on the high side.
XM Group: The Standard account carries relatively expensive spreads, which can raise your overall costs. XM doesn’t publish average spreads for its commission-based XM Zero account, making it difficult to estimate the true all-in price. Rating: 4/5 stars; Rank: #34 of 63 for commissions and fees.
Pepperstone: The Razor account (available on TradingView, MT4/MT5, and cTrader) uses commissions plus spreads. As of July 2024, the average EUR/USD spread was 0.10 pips; adding the commission-equivalent of 0.70 pips brings the all-in cost to about 0.80 pips—near the industry average. The commission-free Standard account averaged 1.1 pips on EUR/USD, making it pricier than Razor. High-volume traders can cut costs further through the Active Trader program: in the U.K. and EU, Professional clients trading at least £20 million per month can receive a 15% per-lot spread rebate, rising to 25% above £200 million; in Australia, Professional clients need 100 lots over three months to qualify for Tier One (10% discount), with Tier Three offering a 30% reduction for 3001+ lots monthly. Rating: 4.5/5 stars; Rank: #6 of 63 for commissions and fees.
| Feature |
XM Group
|
Pepperstone
|
|---|---|---|
| Minimum Deposit | $5 | $0 |
| Average spread (EUR/USD) - Standard account | 2 | 1.1 |
| All-in Cost EUR/USD - Active | N/A | 0.8 |
| Non-wire bank transfer | No | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
XM Group and Pepperstone both support forex trading (CFD/spot), offer crypto via CFDs (not actual coins), and include copy trading. Pepperstone lists 1,726 total symbols with 65 forex pairs, edging out XM Group’s 1,394 symbols and 55 pairs. If your focus is a large CFD and currency menu, Pepperstone has the bigger catalog.
Where XM Group pulls ahead is access to real, exchange-traded shares: you can buy and hold U.S. stocks like Apple and international listings such as Vodafone—choices Pepperstone doesn’t offer. Reflecting this mix, ForexBrokers.com rates XM Group 4.5/5 stars and ranks it 19th of 63 for Range of Investments, while Pepperstone earns 4/5 stars and ranks 23rd. Pick Pepperstone for more forex pairs and CFDs, or choose XM Group if you want real stocks alongside CFDs and crypto CFDs.
| Feature |
XM Group
|
Pepperstone
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1394 | 1726 |
| Forex Pairs (Total) | 55 | 65 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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.
XM Group and Pepperstone both make it easy to test strategies with free demo (paper) trading accounts. Each broker supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), offers Windows desktop and web-based platforms, enables trading directly from charts, and includes copy trading. The main difference is that Pepperstone also offers its own proprietary platform, while XM Group focuses on third‑party platforms like MetaTrader.
For trading platforms and tools, both earn 4 out of 5 stars from ForexBrokers.com. Pepperstone ranks #21 out of 63 brokers in this category, edging XM Group, which ranks #27. If you want a choice that includes a proprietary platform alongside MetaTrader, Pepperstone has the advantage; if you prefer the familiar MetaTrader experience with key features covered, XM Group remains a solid pick.
| Feature |
XM Group
|
Pepperstone
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 30 | 15 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
XM Group and Pepperstone both check the essential boxes for mobile traders. Each offers iPhone and Android apps, supports forex or stock price alerts, and syncs watchlists between mobile and your online account so changes carry over. Their mobile charting tools are on par too: both include 30 technical studies and let you draw trendlines, making analysis on the go straightforward.
The key difference is chart drawing management. Pepperstone’s app auto-saves your drawings, while XM Group’s does not—handy if you switch devices or revisit charts often. Both are rated 4 out of 5 stars for Mobile Trading Apps, yet Pepperstone holds a higher position in ForexBrokers.com’s rankings (#19 of 63) compared to XM Group (#26 of 63). If auto-saving drawings and a slightly higher industry ranking matter to you, Pepperstone has a small edge; otherwise, both are strong choices for mobile forex and stock trading.
| Feature |
XM Group
|
Pepperstone
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | No | Yes |
Dive deeper: Best Forex Trading Apps.
XM Group and Pepperstone both cover the essentials for market research: daily market commentary, forex news from top-tier sources like Bloomberg and Reuters, an economic calendar for global events, and a sentiment tool that shows long/short positioning. This makes either broker a practical pick if you want timely insights and an easy way to track what’s moving the markets.
The key difference is in their built-in analysis tools. XM Group includes Trading Central but not Autochartist, while Pepperstone offers Autochartist but does not include Trading Central. Neither broker provides research from TipRanks or Acuity Trading (Signal Centre). For research quality, ForexBrokers.com rates XM Group at 5 stars and ranks it #8 out of 63 brokers, while Pepperstone earns 4.5 stars and ranks #12. Pick XM Group if you prefer Trading Central’s analysis, or choose Pepperstone if you value Autochartist’s pattern recognition.
| Feature |
XM Group
|
Pepperstone
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginner traders comparing education at XM Group and Pepperstone, both brokers deliver full-featured forex and CFD learning hubs. Each clears the minimum 10-piece threshold for educational content and offers at least 10 beginner videos, at least 10 advanced videos for future growth, and ongoing client webinars at least once per month. That mix of videos, webinars, and other resources gives newcomers a clear path from basics to more advanced topics.
Where they differ is in third-party quality scores. XM Group earns 5 stars for Education and ranks #5 out of 63 brokers on ForexBrokers.com, while Pepperstone earns 4.5 stars and ranks #15. If education is your top priority, XM Group has the edge; if you’re set on Pepperstone’s platform, you’ll still find plenty of beginner-friendly videos and frequent live sessions to get started.
| Feature |
XM Group
|
Pepperstone
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that XM Group is better than Pepperstone. XM Group finished with an overall rank of #16, while Pepperstone finished with an overall rank of #17.
XM Group is a MetaTrader-only broker that offers a strong selection of high-quality educational content and market research.
| Feature |
XM Group
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Pepperstone
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| Overall Rating |
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| Trust Score | 93 | 95 |
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XM Group vs Pepperstone: neither broker supports purchasing actual (delivered) cryptocurrencies, but both offer cryptocurrency trading via CFDs.
Comparing online brokers’ deposit and withdrawal options, Pepperstone supports ACH/SEPA transfers, PayPal, and bank wires but not Skrill, while XM Group supports Skrill and bank wires but not ACH/SEPA or PayPal (Visa/Mastercard availability not specified for either).
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 | XM Group | Pepperstone | |
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| Trust Score | 93 | 95 | |
| Winner | check_circle | ||
| Review | XM Group Review | Pepperstone Review |
| Broker Screenshots | XM Group | Pepperstone | |
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| Regulation | XM Group | Pepperstone | |
|---|---|---|---|
| Trust Score | 93 | 95 | |
| Year Founded | 2009 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 3 | |
| Tier-2 Licenses | 1 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | XM Group | Pepperstone | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| 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) | XM Group | Pepperstone | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | XM Group | Pepperstone | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1394 | 1726 | |
| Forex Pairs (Total) | 55 | 65 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 | XM Group | Pepperstone | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 2 | 1.1 | |
| All-in Cost EUR/USD - Active | N/A | 0.8 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | XM Group | Pepperstone | |
|---|---|---|---|
| Minimum Deposit | $5 | $0 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | Yes |
| Trading Platforms | XM Group | Pepperstone | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | Yes |
| Trading Tools | XM Group | Pepperstone | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | XM Group | Pepperstone | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | No | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | XM Group | Pepperstone | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central | Yes | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | XM Group | Pepperstone | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | XM Group | Pepperstone | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | XM Group Review | Pepperstone Review |
| Overall | XM Group | Pepperstone | |
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| Trust Score | 93 | 95 | |
| Winner | check_circle | ||
| Review | XM Group Review | Pepperstone Review |
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