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 online brokers that are not publicly traded and are not banks. As rated by ForexBrokers.com, XM Group holds a Trust Score of 93/99 and Pepperstone scores 94/99. On this scale, 90–99 is highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and below 59 not trusted.
For regulation, XM Group lists 4 Tier-1 licenses and 3 Tier-2 licenses, while Pepperstone holds 3 Tier-1 and 2 Tier-2 licenses. Tier-1 licenses are considered highly trusted and Tier-2 trusted by ForexBrokers.com. Both brokers sit in the highly trusted range, with Pepperstone edging ahead on Trust Score and XM Group showing a wider set of licenses.
| Feature |
XM Group
|
Pepperstone
|
|---|---|---|
| Year Founded | 2009 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 3 |
| Tier-2 Licenses | 3 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
XM Group and Pepperstone take very different approaches to commissions and fees. XM Group earns 3.5 out of 5 stars and ranks #35 out of 36 brokers for commissions and fees, mainly because its Standard account spreads are expensive and it does not publish average spreads for its commission-based XM Zero account. This makes it harder for traders to compare costs up front, especially if they want a clear view of trading expenses.
Pepperstone performs much better in this category, with a 5 out of 5 star rating and a #6 ranking out of 36 brokers. Its Razor account offers low pricing for traders who use TradingView, MetaTrader, or cTrader, with an average EUR/USD spread of 0.10 pips and an all-in cost of 0.80 pips after commission. The Standard account is free of commission but has higher spreads, averaging 1.1 pips on EUR/USD, so it tends to cost more than Razor. Active traders may also benefit from Pepperstone’s rebate program, which can lower spread costs further for high-volume trading.
In short, Pepperstone is the stronger choice for traders focused on low commissions and fees, while XM Group lags behind due to less transparent pricing and higher spreads on its standard offering.
| Feature |
XM Group
|
Pepperstone
|
|---|---|---|
| Minimum Deposit | $5 | $10 |
| Average spread (EUR/USD) - Spread-only account | 1.1 | 1.1 |
| All-in Cost EUR/USD - Raw spread account | 0.7+ | 0.8 |
| Non-wire bank transfer (Deposit/Withdraw) | No | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
XM Group and Pepperstone both give traders access to forex as CFDs or spot contracts, plus copy trading and crypto CFDs. Pepperstone offers a larger overall selection, with 2,631 tradeable symbols and 65 forex pairs, compared with XM Group’s 1,583 symbols and 54 forex pairs. If you want more markets to choose from, Pepperstone has the edge on breadth.
XM Group stands out for share investing, since it lets clients buy actual U.S. and international exchange traded securities, while Pepperstone does not offer these non-CFD shares. Pepperstone does, however, support buying real cryptocurrency, which XM Group does not. In ForexBrokers.com’s Range of Investments ratings, XM Group scores 4.5/5 and ranks #19 out of 36 brokers, while Pepperstone scores 4/5 and ranks #23.
| Feature |
XM Group
|
Pepperstone
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1583 | 2631 |
| Forex Pairs (Total) | 54 | 65 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | Yes |
| 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 give traders a wide range of platform choices, including free demo accounts, Windows desktop downloads, web-based trading, MetaTrader 4, MetaTrader 5, and copy trading. Both brokers also let users place trades directly from a chart, which can make it easier to react quickly when the market moves. In simple terms, each broker covers the main tools most traders look for, whether they are testing strategies or trading live.
The main difference is that Pepperstone also offers its own in-house platform, while XM Group does not. That gives Pepperstone an extra option for traders who want something beyond the MetaTrader suite. Even so, both brokers are rated 4 out of 5 stars for trading platforms and tools, though Pepperstone ranks higher overall in this category at #21 out of 36 brokers, compared with XM Group at #28.
| 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) | 100 | 90 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
XM Group and Pepperstone both make mobile trading easy, with iPhone and Android apps, price alerts, watchlists that sync with your online account, and tools for drawing trendlines on charts. Both brokers also earn a 4-star rating for mobile trading apps, so either choice gives you a solid app-based trading experience. XM Group stands out for charting depth, offering 100 technical studies in its mobile app, while Pepperstone offers 30.
The main difference is in chart handling and ranking. Pepperstone’s mobile app automatically saves chart drawings, which can be handy if you switch between devices or return later, while XM Group does not. In ForexBrokers.com’s mobile trading apps category, Pepperstone ranks higher at #19 out of 36 brokers, compared with XM Group at #26, making Pepperstone the stronger pick overall for mobile use.
| 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 | 100 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | No | Yes |
Dive deeper: Best Forex Trading Apps.
XM Group and Pepperstone both give traders a solid set of market research tools. Each broker offers daily market commentary, forex news from top sources like Bloomberg, Reuters, and Dow Jones, a sentiment tool that shows long-versus-short positioning, and an economic calendar for tracking upcoming global events. Neither broker includes research from Autochartist, TipRanks, or Acuity Trading.
The main difference is that XM Group also offers Trading Central tools, such as Technical Analytics, while Pepperstone does not. That extra feature helps explain why XM Group scores slightly higher for research, with a 5-star rating and a #8 ranking out of 36 brokers on ForexBrokers.com, compared with Pepperstone’s 4.5-star rating and #13 ranking.
| Feature |
XM Group
|
Pepperstone
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| 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.
XM Group and Pepperstone both give beginners plenty of learning support, including forex and CFD education with at least 10 relevant educational pieces, plus monthly online webinars and a strong library of beginner and advanced videos. This means new traders can find step-by-step lessons, live teaching sessions, and more detailed content as they grow their skills. In this area, both brokers cover the basics well and offer useful material for traders at different experience levels.
That said, XM Group stands out as the stronger choice for education overall. XM Group is rated 5 stars for Education and ranks #5 out of 36 brokers at ForexBrokers.com, while Pepperstone is rated 4.5 stars and ranks #15. For beginners who want the most highly rated learning experience, XM Group has the edge, even though Pepperstone also offers a solid range of educational tools.
| 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 multi-regulated forex and CFD broker offering 1,583 tradeable symbols across MetaTrader 4 and 5 and a new proprietary web and mobile platform. Its live trading rooms and integrated Trading Central research are among the best in the industry. Standard account spreads are expensive, though the Ultra Low and Zero accounts are competitive.
| Feature |
XM Group
|
Pepperstone
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 93 | 94 |
| Range of Investments |
|
|
| Trading Fees |
|
|
| Trading Platforms |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
When comparing XM Group vs Pepperstone for cryptocurrency trading, Pepperstone stands out by offering actual delivered cryptocurrency purchases, while both brokers provide access to cryptocurrency CFDs for trading price movements without owning the underlying asset.
When comparing XM Group vs Pepperstone for funding and withdrawals, Pepperstone offers more deposit and withdrawal options such as ACH/SEPA transfers and PayPal, while both brokers support Skrill and bank wire transfers, making Pepperstone the more flexible choice for payment 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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | XM Group | Pepperstone | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 93 | 94 | |
| Winner | check_circle | ||
| Review | XM Group Review | Pepperstone Review |
| Broker Screenshots | XM Group | Pepperstone | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| Regulation | XM Group | Pepperstone | |
|---|---|---|---|
| Trust Score | 93 | 94 | |
| 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 | 3 | 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 | Yes | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or CMA 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) | 1583 | 2631 | |
| Forex Pairs (Total) | 54 | 65 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | Yes | |
| 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) - Spread-only account | 1.1 | 1.1 | |
| All-in Cost EUR/USD - Raw spread account | 0.7+ | 0.8 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | XM Group | Pepperstone | |
|---|---|---|---|
| Minimum Deposit | $5 | $10 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | 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) | 100 | 90 | |
| 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 | 100 | 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 | No | |
| 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 93 | 94 | |
| Winner | check_circle | ||
| Review | XM Group Review | Pepperstone Review |
IG
FOREX.com
CMC Markets
XTB
eToro
Capital.com
AvaTrade
Pepperstone
FP Markets
Tickmill