Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs XM Group, 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.
When comparing the online brokers Pepperstone and XM Group, both show a strong commitment to regulatory standards, each holding multiple licenses that ensure thorough oversight. Founded in 2010, Pepperstone holds three Tier-1 licenses and two Tier-2 licenses, earning it a high Trust Score of 95 out of 99 on ForexBrokers.com. Meanwhile, XM Group, established in 2009, surpasses Pepperstone slightly in Tier-1 licenses with four but has fewer Tier-2 licenses, holding just one, and achieves a Trust Score of 93 out of 99. Both brokers are privately held and not classified as banks.
Although neither Pepperstone nor XM Group is publicly traded or operates as a bank, their regulatory credentials provide a good gauge of their trustworthiness within the online trading space. Tier-1 licenses, which are recognized as the most reliable according to ForexBrokers.com, highlight each broker’s commitment to maintaining strict standards for client safety and fair trading. Overall, both Pepperstone and XM Group are highly trusted brokers offering a secure trading environment, making them notable options for traders prioritizing regulatory reliability.
| Feature |
Pepperstone
|
XM Group
|
|---|---|---|
| Year Founded | 2010 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 4 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
Pepperstone edges XM Group on pricing for many traders. Pepperstone earns 4.5/5 stars for commissions and fees and ranks #11 out of 63 brokers at ForexBrokers.com, while XM Group scores 4/5 stars and ranks #34 out of 63. The difference largely comes down to Pepperstone’s transparent, competitive Razor account pricing and volume-based rebates versus XM’s pricier Standard spreads and limited visibility for its commission-based option.
Pepperstone’s Razor account (available on TradingView, MT4/MT5, and cTrader) uses a commission-plus-spread model. As of July 2024, the EUR/USD averaged 0.10 pips; when you add the commission-equivalent of 0.70 pips, the all-in cost comes to 0.80 pips—around the industry average. Its Standard account is commission-free but averaged 1.1 pips on EUR/USD, making it costlier than Razor. High-volume traders can lower costs further with Pepperstone’s Active Trader program: in the U.K. and EU, Professional clients trading at least £20 million in forex per month get a 15% spread rebate that can rise to 25% above £200 million; in Australia, Professional clients start at a 10% discount after 100 lots over three months, with up to a 30% reduction for more than 3001 lots monthly.
XM Group’s Standard account spreads are expensive, and it does not publish average spreads for its commission-based XM Zero account, which makes it harder to gauge typical all-in costs. That limited pricing transparency and pricier Standard spreads help explain XM’s 4/5 star score and #34 ranking for commissions and fees compared with Pepperstone’s stronger showing for active and price-sensitive traders.
| Feature |
Pepperstone
|
XM Group
|
|---|---|---|
| Minimum Deposit | $0 | $5 |
| Average Spread EUR/USD - Standard | 1.00 | 1.6 |
| All-in Cost EUR/USD - Active | 0.70 | 0.8 |
| 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 and XM Group both support forex trading, via CFDs or spot depending on your region. Each also offers copy trading and cryptocurrency derivatives, but neither lets you buy real crypto. For overall breadth, Pepperstone lists 1,726 tradeable instruments and 65 forex pairs, while XM Group lists 1,394 instruments and 55 pairs—giving Pepperstone the edge if you want more symbols and currency pairs to choose from.
If owning shares matters, XM Group stands out because it lets you buy exchange-traded stocks on both U.S. and international exchanges (not just CFDs); Pepperstone does not offer real share dealing. Reflecting these differences, ForexBrokers.com rates Pepperstone 4.0/5 stars and XM Group 4.5/5 for Range of Investments, ranking them #27 and #25 out of 63 brokers, respectively. In short: pick Pepperstone for a larger menu of symbols and forex pairs, or XM Group if you want to trade CFDs and also buy actual shares.
| Feature |
Pepperstone
|
XM Group
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 1394 |
| Forex Pairs (Total) | 65 | 55 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| 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 XM Group both offer free demo (paper) trading, Windows desktop downloads, and web-based platforms. Each supports copy trading plus MetaTrader 4 (MT4) and MetaTrader 5 (MT5), and both let you place trades directly from charts. Pepperstone adds its own in-house trading platform and integrates with DupliTrade, while XM Group does not offer an in-house platform and does not support DupliTrade. Neither broker supports ZuluTrade. Watchlists are similarly flexible at both brokers, with 7 available columns.
For charting tools, Pepperstone lists 30 drawing tools versus XM Group’s 15; indicator counts for both were not specified. According to ForexBrokers.com, both brokers earn 4 stars for Trading Platforms and Tools, though Pepperstone ranks higher at #22 out of 63 brokers, compared with XM Group at #33. If you want a wide choice of platforms and added copy-trading options, Pepperstone has a small edge, while XM Group still covers the essentials for everyday forex and CFD trading.
| Feature |
Pepperstone
|
XM Group
|
|---|---|---|
| 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 | 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 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and XM Group both deliver capable mobile trading apps for iPhone and Android. Each offers stock or forex price alerts, synced watchlists that carry over between mobile and web, and watchlists with real-time quotes. For charting, both apps provide 30 technical studies, the ability to draw trendlines, and quick switching among multiple time frames (intraday, daily, weekly). If you need a full toolkit for chart analysis and trade monitoring on the go, either app checks the key boxes.
The main difference is chart annotation persistence: Pepperstone’s app auto-saves your drawings, while XM Group’s does not. In terms of quality signals, both earn 4 stars for Mobile Trading Apps. Looking at rankings from ForexBrokers.com, Pepperstone places #21 out of 63 brokers for mobile apps, compared with XM Group at #31. If saving chart notes matters to you, Pepperstone has a slight edge; otherwise, the feature sets are very similar.
| Feature |
Pepperstone
|
XM Group
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Pepperstone and XM Group both excel in providing rich market research resources, featuring daily market commentary and top-tier forex news from credible sources like Bloomberg and Reuters. Each platform ensures traders have access to comprehensive insights into market trends and movements through features such as economic calendars and sentiment-based trading tools. However, they diverge in the specialized tools they offer; Pepperstone integrates Autochartist for technical and fundamental analysis, while XM Group supports tools from Trading Central, providing various analytics that cater to different trading strategies.
In terms of authority and ranking, XM Group slightly outshines Pepperstone, boasting a 5-star research rating compared to Pepperstone's 4.5 stars. According to ForexBrokers.com, XM Group secures a higher position in the Research category, ranking 8th out of 63 brokers, whereas Pepperstone holds the 12th spot. This suggests XM Group might be more favorable for traders prioritizing expansive research capabilities, but Pepperstone remains a strong contender with its unique offerings tailored to tech-savvy investors.
| Feature |
Pepperstone
|
XM Group
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| 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.
When it comes to educational resources for beginner traders, both Pepperstone and XM Group excel in offering a variety of learning tools. Pepperstone provides a series of over ten educational articles, videos, and archived webinars focused primarily on forex and CFDs, aimed at enhancing your understanding of the trading landscape. The broker also hosts monthly online webinars and maintains a searchable archive for those who wish to revisit past sessions. For beginners, Pepperstone offers more than ten instructional videos tailored to those just starting, along with advanced educational materials. One standout feature is their comprehensive investor dictionary, which defines over 50 investing terms, making it a valuable resource for newcomers.
Similarly, XM Group delivers an extensive educational suite, ensuring ample learning opportunities for traders at every level. The broker provides more than ten pieces of educational content, including articles and videos centered on forex and CFDs. Their commitment to ongoing education is reflected in their monthly client webinars, accompanied by a well-organized archive of past recordings. While XM Group also offers more than ten beginner-focused videos and advanced educational content, it lacks an extensive investor dictionary like Pepperstone. However, XM Group's educational offerings are highly rated by ForexBrokers.com, earning a perfect 5-star rating and ranking #7 out of 63 brokers, compared to Pepperstone's #17 ranking and 4.5-star rating.
| Feature |
Pepperstone
|
XM Group
|
|---|---|---|
| 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 | 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 XM Group. Pepperstone finished with an overall rank of #16, while XM Group finished with an overall rank of #17.
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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XM Group
|
|---|---|---|
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| Trust Score | 95 | 93 |
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Both Pepperstone and XM Group do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
Pepperstone offers a wider variety of deposit and withdrawal options than XM Group, including ACH, SEPA, and PayPal, while both platforms support Skrill, bank wires, and Visa or Mastercard transactions.
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 | XM Group | |
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| Trust Score | 95 | 93 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | XM Group Review |
| Broker Screenshots | Pepperstone | XM Group | |
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| Regulation | Pepperstone | XM Group | |
|---|---|---|---|
| Trust Score | 95 | 93 | |
| Year Founded | 2010 | 2009 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 4 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | XM Group | |
|---|---|---|---|
| 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 | 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 | XM Group | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Pepperstone | XM Group | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 1394 | |
| Forex Pairs (Total) | 65 | 55 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| 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 | XM Group | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | 1.6 | |
| All-in Cost EUR/USD - Active | 0.70 | 0.8 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | XM Group | |
|---|---|---|---|
| Minimum Deposit | $0 | $5 | |
| 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 | XM Group | |
|---|---|---|---|
| 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 | Yes | |
| cTrader | Yes | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | XM Group | |
|---|---|---|---|
| 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 | XM Group | |
|---|---|---|---|
| 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 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Pepperstone | XM Group | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | XM Group | |
|---|---|---|---|
| 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 | No |
| Major Forex Pairs | Pepperstone | XM Group | |
|---|---|---|---|
| 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 | XM Group Review |
| Overall | Pepperstone | XM Group | |
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| Trust Score | 95 | 93 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | XM Group Review |
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