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.
Pepperstone, established in 2010, and XM Group, founded in 2009, are prominent online brokers known for their strong regulatory frameworks. Both companies are not publicly traded and do not operate as banks, ensuring a streamlined focus on brokerage services. Pepperstone holds a ForexBrokers.com Trust Score of 95, reflecting its standing as a highly trusted broker, while XM Group holds a slightly lower Trust Score of 88, placing it in the trusted category.
In terms of regulatory licenses, Pepperstone has secured 3 Tier-1 licenses, making it a highly trusted choice for traders seeking reliability. It also holds 2 Tier-2 licenses, reinforcing its trusted status. Meanwhile, XM Group boasts 4 Tier-1 licenses, demonstrating a strong commitment to meeting high regulatory standards, alongside 1 Tier-2 license. Overall, both brokers exhibit a commendable commitment to trust and regulatory compliance, each with its own strengths in licensing and trust scores.
| 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 |
When comparing the commission and fee structures of Pepperstone and XM Group, Pepperstone stands out for its competitive pricing, particularly with its Razor account. This account offers a commission-based pricing model for traders using platforms like TradingView, MetaTrader, or cTrader. With an average spread of 0.10 pips for the EUR/USD and a commission-equivalent of 0.70 pips, the total cost is 0.80 pips, which aligns with industry norms. In contrast, Pepperstone’s Standard account is commission-free but has a higher average spread of 1.1 pips for the same currency pair, making it more costly compared to Razor when considering all-in costs. For active traders, Pepperstone offers a rebate program that can significantly reduce trading costs based on volume.
XM Group, on the other hand, offers a less transparent fee structure, particularly with its XM Zero account, where average spreads are not disclosed despite being commission-based. This lack of transparency makes cost comparison challenging, although its standard account has been criticized for high spreads. When rated for commissions and fees, Pepperstone receives 4.5 stars, indicating a more favorable cost structure for traders compared to XM Group, which holds a 4-star rating.
Beyond star ratings, Pepperstone ranks higher than XM Group in ForexBrokers.com's assessment, securing the 10th spot out of 63 brokers in the Commissions and Fees category. XM Group, in contrast, is ranked 33rd, suggesting that Pepperstone is generally more cost-effective and favorable for traders focused on minimizing their trading costs.
| 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 offer CFD and spot contract forex trading, catering to those interested in the dynamic forex market. Pepperstone provides a broader range of tradable symbols with 1726 options compared to XM Group's 1394. For those focusing on forex, Pepperstone again has a slight edge, offering 65 forex pairs against XM Group's 55. However, when it comes to exchange-traded securities, XM Group stands out by providing access to both U.S. and international exchanges, allowing traders to invest in shares like Apple and Vodafone directly, a feature Pepperstone does not offer.
Both platforms support copy trading and cryptocurrency derivatives, though neither allows for the direct purchase of actual cryptocurrencies. In terms of ratings from ForexBrokers.com, Pepperstone earns four stars in the Range of Investments category, while XM Group boasts a higher rating at 4.5 stars. Furthermore, XM Group ranks slightly higher at #23 among 63 brokers for investment range, while Pepperstone comes in at #26. This suggests that while both offer comprehensive trading options, XM Group may provide a more versatile range for traders wishing to diversify their portfolios.
| 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 virtual demo accounts, giving traders a chance to practice without financial risk. While both provide access to popular platforms like MetaTrader 4 and MetaTrader 5, a key difference is Pepperstone’s proprietary platform, developed in-house to give a unique trading experience. Both brokers have Windows-based desktop platforms and web-based platforms, as well as support for copy trading. However, only Pepperstone includes DupliTrade in their offering.
In terms of charting tools, Pepperstone provides 30 drawing tools compared to XM Group’s 15. Both brokers allow trading directly from stock charts and offer the same number of columns for watch lists. When rated for trading platforms and tools, each broker earns four out of five stars. Despite their similar star ratings, Pepperstone holds a slight edge in rankings, coming in at 22nd place among 63 brokers on ForexBrokers.com, whereas XM Group is ranked 31st.
| 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 offer comprehensive mobile trading apps that cater to iPhone and Android users, ensuring flexibility and convenience for traders. The essential features like stock or forex price alerts and watchlist symbol syncing are available on both platforms. Each app is equipped with 30 technical studies for charting, allowing users to analyze market trends effectively. Drawing trendlines and viewing multiple time frames on charts is easily achievable with both apps, providing a similar level of functionality for traders who rely on technical analysis.
However, one notable difference is that Pepperstone's app automatically saves drawings on charts, while XM Group's app does not offer this feature. Both platforms allow users to create watchlists with real-time quotes, keeping traders updated with market movements. In terms of mobile trading app rankings, Pepperstone is placed at #21 out of 63 brokers by ForexBrokers.com, slightly ahead of XM Group, which is ranked at #29. Both apps receive an overall rating of 4 out of 5 stars, reflecting their solid performance and user satisfaction.
| 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 | 88 |
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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 | 88 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | XM Group Review |
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| Regulation | Pepperstone | XM Group | |
|---|---|---|---|
| Trust Score | 95 | 88 | |
| 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) | 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 | XM Group | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| 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 | 88 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | XM Group Review |
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