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 earns 4.5/5 stars for Commissions and Fees and ranks #11 out of 63 brokers with ForexBrokers.com. Its Razor account uses a commission-plus-spread model and, as of July 2024, lists an average EUR/USD spread of 0.10 pips; once you include the commission-equivalent of 0.70 pips, the all-in cost is about 0.80 pips, which is near the industry average. The Standard account is commission-free but had a higher 1.1-pip average on EUR/USD (July 2024), making it costlier than Razor. High-volume traders can lower costs through Pepperstone’s Active Trader program: qualifying professionals in the U.K./EU can earn spread rebates of roughly 15% to 25% based on monthly forex volume, while in Australia rebates range from about 10% to 30% by lot tiers. Razor works on TradingView, MetaTrader (MT4/MT5), and cTrader.
Xtrade does not publish average spread data, so it’s harder to estimate real trading costs or compare like-for-like across instruments. Reflecting this limited transparency and its pricing, Xtrade holds a 2.5/5 star Commissions and Fees rating and ranks #64 out of 63 brokers with ForexBrokers.com.
Bottom line: Pepperstone provides clearer, often more competitive pricing—especially for active traders using the Razor account with rebates—while Xtrade’s lack of average spread figures makes it tough to assess total costs. For fee-sensitive traders, Pepperstone is the more compelling choice in this matchup.
| 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 vs Xtrade: for range of investments, Pepperstone lists 1,726 tradeable symbols and 65 forex pairs, while Xtrade offers 482 symbols and 56 pairs. Both brokers support forex trading via CFDs or spot-style contracts and let you speculate on cryptocurrencies through derivatives (not the coins themselves). Pepperstone also provides copy trading, which Xtrade does not.
Neither broker lets you buy actual U.S. or international shares, nor do they offer delivered crypto. Independent ratings reflect the difference in selection: Pepperstone earns 4 out of 5 stars for Range of Investments and ranks 27th out of 63 brokers on ForexBrokers.com, whereas Xtrade scores 3.5 stars and ranks 50th. If you want more markets and copy trading, Pepperstone has the edge; if you only need core forex and CFD markets, Xtrade may suffice.
| 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 provide free demo (paper) accounts, proprietary platforms, and web-based trading. For desktop software, Pepperstone offers a Windows download, while Xtrade does not. Platform choice is wider at Pepperstone: it supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), and it offers copy trading via DupliTrade. Xtrade does not support MT4/MT5 or copy trading. Neither broker integrates ZuluTrade.
Both brokers let you trade directly from charts. For charting tools, Pepperstone lists 30 drawing tools versus Xtrade’s 100; indicator counts were not specified. Watchlists are slightly more detailed at Xtrade with 9 columns versus Pepperstone’s 7. Overall, ForexBrokers.com rates Pepperstone 4 stars and ranks it #22 of 63 for Trading Platforms and Tools, ahead of Xtrade’s 3.5-star score and #59 ranking.
| 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.
Pepperstone and Xtrade both offer iPhone and Android trading apps. According to ForexBrokers.com, each earns 4 stars for Mobile Trading Apps; however, Pepperstone ranks #21 out of 63 brokers while Xtrade ranks #54, indicating Pepperstone’s app is more highly regarded in this category.
Feature-wise, Pepperstone stands out. It supports price alerts, synced watchlists between mobile and web, real-time quote watchlists, and mobile charting with 30 technical studies. You can draw trendlines, switch between multiple time frames (daily, weekly, intraday), and your chart drawings auto-save. Xtrade offers the core iPhone and Android apps but does not include price alerts, synced watchlists, real-time quote watchlists, trendline drawing, or multi–time frame charts in its mobile app, and it does not specify the number of mobile technical studies.
| 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.
In the Pepperstone vs Xtrade market research comparison, both brokers publish daily market commentary, deliver forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, and provide an economic calendar. The key differences are in the extra tools: Pepperstone includes Autochartist for pattern and signal scanning and offers a sentiment tool that shows the long/short split across instruments. Xtrade does not provide Autochartist or a sentiment gauge. Neither broker includes Trading Central, TipRanks, or research from Acuity Trading.
These differences are reflected in their scores: Pepperstone earns 4.5/5 for Research and ranks #12 out of 63 brokers at ForexBrokers.com, while Xtrade is rated 3.5/5 and ranks #53. If you want more trade ideas and crowd sentiment alongside news and calendars, Pepperstone is the stronger choice. For basic research with daily updates and trusted news feeds, both platforms should meet your needs.
| 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 |
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| Trust Score | 95 | 74 |
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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.
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0 of 5| Overall Rating | Pepperstone | Xtrade | |
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| Trust Score | 95 | 74 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | Xtrade Review |
| Broker Screenshots | Pepperstone | Xtrade | |
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| 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) | |||
| 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 | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| 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 | |
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| Trust Score | 95 | 74 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | Xtrade Review |
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