Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs Xtrade, 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 Xtrade, founded in 2003, are both online brokers known for their reliable services, though their levels of regulation differ significantly. Neither company is publicly traded or operates as a bank. When it comes to trustworthiness, Pepperstone holds a higher ForexBrokers.com Trust Score of 95 out of 99, which places it in the highly trusted category. In contrast, Xtrade has a score of 74, indicating an average risk level according to the same source.
In terms of regulatory credentials, Pepperstone stands out by holding three Tier-1 licenses, considered highly trustworthy, and two Tier-2 licenses, which are trusted. On the other hand, Xtrade has one Tier-1 license and one Tier-2 license. This difference in regulatory oversight makes Pepperstone a more appealing choice for those prioritizing highly trusted financial regulations.
| Feature |
Pepperstone
|
Xtrade
|
|---|---|---|
| Year Founded | 2010 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
Pepperstone is highly regarded for its competitive pricing on the Razor account, especially when paired with its Active Trader program tailored for high-volume traders. The Razor account charges a commission along with prevailing spreads and boasts an average spread of 0.10 pips for EUR/USD, with an all-in cost of 0.80 pips when factoring in the commission. In contrast, Pepperstone's Standard account does not charge commissions but has a higher average spread of 1.1 pips for EUR/USD, making it more expensive compared to the Razor account. High-volume traders can benefit from rebates on spreads, depending on their trading volume and region, through the Active Trader program.
Meanwhile, Xtrade lacks transparency in its pricing as average spread data is not publicly available, making it difficult for traders to gauge potential costs. This lack of available information may not inspire confidence among potential clients, especially those who prioritize knowing the details of their trading expenses upfront before selecting a broker. As a result, when comparing both brokers, Pepperstone tends to stand out for its clear and competitive fee structure, especially for those engaging in high-frequency trading.
In terms of ratings, Pepperstone scores impressively with a 4.5-star rating and ranks 10th out of 63 brokers in the Commissions and Fees category by ForexBrokers.com. On the other hand, Xtrade receives a lower 2.5-star rating and ranks last at 63. This significant difference highlights Pepperstone as the more cost-effective and transparent choice for traders focused on optimizing their trading costs.
| Feature |
Pepperstone
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $0 | $250 |
| Average Spread EUR/USD - Standard | 1.00 | N/A |
| All-in Cost EUR/USD - Active | 0.70 | N/A |
| 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 Xtrade both provide traders with the opportunity to engage in forex trading through CFDs, but they differ significantly in their offerings. Pepperstone boasts an impressive array of 1,726 tradeable symbols, including 65 forex pairs, providing a broad spectrum for traders to explore. While Xtrade provides a more modest selection of 482 tradeable symbols with 56 forex pairs, it still caters to a wide range of investor needs.
Neither Pepperstone nor Xtrade offers exchange-traded securities directly through U.S. or international exchanges, meaning investors can't purchase actual shares of companies like Apple or Vodafone. When it comes to cryptocurrency trading, both brokers offer derivative products rather than direct ownership. A standout feature for Pepperstone is the availability of copy trading, which Xtrade does not offer. Considering these factors, Pepperstone receives a slightly higher rating of 4 stars for investment range compared to Xtrade's 3.5 stars, placing them at 26th and 49th out of 63 brokers, respectively, according to ForexBrokers.com.
| Feature |
Pepperstone
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 482 |
| Forex Pairs (Total) | 65 | 56 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | No |
| 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 Xtrade both cater to traders seeking advanced online trading capabilities, offering a suite of platforms and tools to enhance their experience. Both brokers provide simulated or paper trading options via free virtual demo accounts, allowing new and experienced traders to test strategies risk-free. While both offer proprietary platforms tailored in-house, Pepperstone stands out by also supporting the widely-used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, offering more flexibility for those familiar with these powerful tools. Pepperstone further boosts its offering with copy trading capabilities and allows direct trading from stock charts. In contrast, Xtrade focuses on delivering a highly visual experience with a greater number of drawing tools for charting.
Both brokers provide web-based trading platforms accessible from any browser, though Pepperstone additionally offers a Windows-based downloadable platform for those who prefer a desktop client. However, in terms of customizability, Xtrade’s watch lists offer two more columns than Pepperstone. Despite these varied features, Pepperstone receives higher ratings for trading platforms and tools, achieving a four-star rating compared to Xtrade’s 3.5 stars. Pepperstone's strength is further reflected in its higher ranking at #22 out of 63 brokers by ForexBrokers.com, whereas Xtrade sits further down the list at #58. Overall, for traders seeking diversity in platform options with added functionality, Pepperstone offers a more comprehensive package.
| Feature |
Pepperstone
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | N/A |
| Charting - Drawing Tools (Total) | 30 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Pepperstone and Xtrade, Pepperstone offers a more comprehensive experience. Both brokers provide iPhone and Android apps, making mobile trading accessible for users of both platforms. However, Pepperstone stands out by providing stock and forex price alerts, while Xtrade does not offer this feature. Additionally, Pepperstone allows for watchlist symbol syncing, so users can seamlessly transition between their mobile app and online accounts without losing updates. On the charting front, Pepperstone offers an impressive 30 technical studies, the ability to draw trendlines, and view multiple time frames, whereas Xtrade is more limited in these areas. Pepperstone also enhances user experience by auto-saving chart drawings and enabling the creation of real-time watchlists, features not available with Xtrade.
While both apps have received a rating of four stars for their mobile trading capabilities, Pepperstone's app is ranked significantly higher at #21 compared to Xtrade's #53, according to ForexBrokers.com. This ranking highlights the functional and user-friendly design that gives Pepperstone an edge over Xtrade in mobile trading solutions. For traders seeking a mobile app loaded with features, Pepperstone is the preferable choice, offering more tools and flexibility for a seamless trading experience on the go.
| Feature |
Pepperstone
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
Pepperstone and Xtrade both provide daily market commentary and access to forex news from renowned sources like Bloomberg and Reuters, making them suitable for traders who value staying updated on market conditions. However, Pepperstone extends its research offerings by including tools from companies like Autochartist and a sentiment-based trading tool, which offers insights into market positioning across currency pairs. In contrast, Xtrade does not offer these features, which may limit the depth of analysis available to its users.
Both brokers offer economic calendars to help traders keep track of global news events. When it comes to overall research quality, Pepperstone is rated higher, earning 4.5 out of 5 stars compared to Xtrade's 3.5 stars, according to ForexBrokers.com. Additionally, Pepperstone ranks 12th among 63 brokers for research capabilities, while Xtrade comes in at 52nd. This indicates a more comprehensive research experience with Pepperstone, which could be more appealing to traders looking for advanced market analysis tools.
| Feature |
Pepperstone
|
Xtrade
|
|---|---|---|
| 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 | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing Pepperstone and Xtrade for beginners seeking educational resources on forex and CFDs, Pepperstone shines brighter in several areas. Both brokers provide a minimum of 10 educational pieces, such as articles or videos, but Pepperstone takes a step further by hosting monthly live webinars. Moreover, Pepperstone maintains a searchable archive of recorded webinars, a feature Xtrade does not offer. This gives Pepperstone an edge for learners who appreciate interactive and on-demand learning.
Additionally, Pepperstone offers extensive video content tailored for beginners and advanced traders alike, ensuring everyone from novices to experienced traders can find relevant information. While both brokers provide an investor dictionary with over 50 investing terms, Pepperstone's overall educational offering receives a higher rating of 4.5 stars compared to Xtrade's 3.5 stars. Consequently, Pepperstone ranks #17 out of 63 brokers in education, whereas Xtrade is further down the list at #46, illustrating Pepperstone's commitment to trader education.
| Feature |
Pepperstone
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| 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 Xtrade. Pepperstone finished with an overall rank of #16, while Xtrade finished with an overall rank of #60.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
|
Xtrade
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 95 | 74 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both Pepperstone and Xtrade do not offer the ability to buy actual delivered cryptocurrency, but they do provide the option to trade cryptocurrency derivatives.
Pepperstone provides a more versatile range of deposit and withdrawal options compared to Xtrade, including the acceptance of ACH, SEPA, and PayPal, alongside shared payment methods such as Skrill, Visa, Mastercard, and bank wires.
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 | Pepperstone | Xtrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 95 | 74 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | Xtrade Review |
| Broker Screenshots | Pepperstone | Xtrade | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
| ||
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
| ||
| Education Gallery (click to expand) |
|
| Regulation | Pepperstone | Xtrade | |
|---|---|---|---|
| Trust Score | 95 | 74 | |
| Year Founded | 2010 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | Xtrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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 | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| 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) | No | No |
| Investments | Pepperstone | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 482 | |
| Forex Pairs (Total) | 65 | 56 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | Xtrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | N/A | |
| All-in Cost EUR/USD - Active | 0.70 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $250 | |
| 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 | Xtrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 15 | N/A | |
| Charting - Drawing Tools (Total) | 30 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | Pepperstone | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Pepperstone | Xtrade | |
|---|---|---|---|
| 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 | No | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Pepperstone | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
| Overall | Pepperstone | Xtrade | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 95 | 74 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | Xtrade Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill