Alison Heyerdahl
Edited by Alison Heyerdahl
Author

FP Markets vs. Pepperstone

In the fast-paced world of forex trading, choosing the right broker is crucial. Pepperstone and FP Markets are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.

Select Brokers to Compare

Forex Broker Comparison
Broker Score
4.40
/ 5
4.61
/ 5
Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Assets Available
Education & Research
Customer Service
Beginner Friendly
Analysis Research
Min. Deposit
AUD 100
USD 0

Regulation

Regulation
Australian Securities & Investment CommissionCapital Markets AuthorityCyprus Securities and Exchange CommissionFinancial Services Commission
Financial Services Conduct AuthorityThe Seychelles Financial Services Authority
Australian Securities & Investment CommissionBundesanstalt für FinanzdienstleistungsaufsichtCapital Markets AuthorityCyprus Securities and Exchange Commission
Dubai Financial Services AuthorityFinancial Conduct AuthoritySecurities Commission of the Bahamas
Trading Desk Type
ECN/DMA
NDD
Trading Instruments
Bonds, Commodities, Cryptocurrencies, Stock CFDs, ETFs, Forex, Indices, Metals
Commodities, Cryptocurrencies, Energies, Stock CFDs, ETFs, Forex, Indices, Metals

Conditions

Forex Pairs
70
90
Crypto Pairs
11
30
Pros
  • Trusted since 2005 with top-tier regulation
  • 100 USD minimum deposit amount
  • Supports MT4 MT5 cTrader and TradingView
  • Spreads start at 1.0 pip and narrow to 0 pips with higher trading volumes
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
Cons
  • Notably higher withdrawal fees than competitors
  • Stock CFDs are limited on MT4/MT5 and primarily available through IRESS
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
% Lose with this broker
79%
81.3%
Leverage
30:1
30:1
Spread
0 pips
0 pips
Hedging
Yes
Yes
Scalping
Yes
Yes
Account Types
Platinum IRESS, Premier IRESS, RAW, Standard, Standard IRESS
cTrader Razor, MT5 Razor, MT4 Razor, Standard, Swap-free
Islamic Account
Yes
Yes
Trading Platforms
MT4, MT5, cTrader, IRESS
MT4, MT5, cTrader, TradingView
Funding Methods
Bank Transfer, Broker to Broker, Cryptocurrencies, Dragonpay, Fasapay, Mastercard, Neteller, NganLuong, PerfectMoney, Skrill, SticPay, Visa, xPay
Bank Transfer, BPay, Mastercard, Neteller, Paypal, POLi, Skrill, Unionpay, Visa
Trading Commissions
6 USD / lot - RAW Accounts
6 USD / lot
Octa Octa
FP Markets
Pepperstone
Trust Rating
4.5
5
Trading Conditions
5
4.5
Trading Platforms
5
5
Deposit & Withdrawal
3
4
Assets Available
4
4.5
Education & Research
4.5
4.5
Customer Service
4
4.5
Beginner Friendly
4
3
Analysis Research
5
5
Overall Rating
4.40
/ 5
4.61
/ 5

How Do Pepperstone and FP Markets Compare?

The radar chart above illustrates the comparison between Pepperstone and FP Markets across several key metrics, with the highest possible score being 100 in each category.

Helping You Choose the Right Broker

At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated Pepperstone and FP Markets, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.

Trust and Regulation

Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses. The more top-tier authorities regulating a broker, the higher its trust rating.

In our comparison:

  • Pepperstone holds four Tier 1 and one Tier 2 licences.
  • FP Markets holds two Tier 1 and no Tier 2 licences.

Based on these findings, Pepperstone earned a higher trust rating than FP Markets.

Is Pepperstone financially regulated?

Yes Pepperstone was founded in 2010 and is regulated by ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB.

 

Is FP Markets financially regulated?

Yes FP Markets was founded in 2005 and is regulated by ASIC, CMA, CySEC, FSC, FSCA and FSA-Seychelles.

 

Trading Costs Comparison

When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.

We found that FP Markets has overall lower trading costs than Pepperstone.

Top Overall Brokers by Broker Score

Trading Platforms Offered

Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.

  • Pepperstone supports MT4, MT5, cTrader and TradingView
  • FP Markets supports MT4, MT5, cTrader and IRESS

Copy Trading Availability

Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both FP Markets and Pepperstone offer copy trading.

Range of Trading Instruments

A broader range of CFD instruments provides more trading opportunities. Pepperstone offers a greater variety of instruments compared to FP Markets:

  • Pepperstone: 90 Forex pairs.
  • FP Markets: 70 Forex pairs.

Cryptocurrency Trading

For those interested in trading cryptocurrencies, Pepperstone offers 30 cryptocurrencies, while FP Markets offers 11 cryptocurrencies. Therefore, Pepperstone is the better choice for cryptocurrency trading.

Deposit and Withdrawal Processes

Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that FP Markets charges a withdrawal fee and Pepperstone does not. Overall, Pepperstone has better deposit and withdrawal processes than FP Markets. 

Educational Support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

FP Markets and Pepperstone both have moderate educational support. Both FP Markets and Pepperstone offer educational support for more experienced traders.

Market Analysis Materials

Access to frequent and high-quality market research and analysis is crucial.

We found that Pepperstone offers better research analysis than FP Markets and that both FP Markets and Pepperstone offer frequent webinars.

Overall Verdict

  • Pepperstone:

    One of our highest-rated brokers for Indian traders, Pepperstone was founded in Australia in 2010 and is globally renowned for its low trading costs and choice of trading platforms. Pepperstone keeps costs low with some of the tightest spreads we've seen, starting from 1.00 pips (EUR/USD) on its Standard Account. For those who prefer classic ECN trading, the Razor Account has low commissions and spreads, averaging just 0.10 pips on the EUR/USD. Neither account has a required minimum deposit. Islamic accounts are also available for Indian residents.

    Despite the low costs, we are disappointed with Pepperstone's complicated commission structure. But more experienced traders will appreciate Pepperstone’s trading platform options, including MT4, MT5, and cTrader, which integrates seamlessly with the TradingView tool. All are available on desktop and mobile devices. Pepperstone’s education section is not the most extensive we’ve seen, but it is competent and well-structured, making it a good place to start for beginner traders. 

  • FP Markets:

    FP Markets is a well-regulated Forex broker with an excellent stock trading platform designed for more experienced stock pickers. We were also impressed with how easy the FP Markets Trading App was to use and the quality of FP Markets' customer service.

    In terms of fees, FP Markets has an “ECN pricing” model, which it claims provides “extremely competitive” costs. Unfortunately, we found that the fees on its MT4 and MT5 trading accounts were higher than most of its ECN competitors. But FP Markets does make it easy for beginners to get started, with 50 GBP minimum deposits and unlimited demo accounts.

    FP Markets also stands out for its support for active and professional stock traders. FP Markets is one of few brokers offering the IRESS suite of trading platforms. These Direct Market Access platforms provide access to 10,000+ international stocks, but the basic IRESS account requires a minimum deposit of 1000 USD and commissions are charged on most trades.

Overall Ratings

  • Pepperstone: 4.61
  • FP Markets: 4.40

For more detailed reviews, please read our comprehensive assessments of Pepperstone and FP Markets.

Octa
AvaTrade
CySEC, FSCA
Regulators
ASIC, FSCA
1000:1
Leverage
400:1
MT4, MT5
Platforms
MT4, MT5
0.6 pips
Min. Spread
0.9 pips
USD 20
Min. Deposit
USD 100
XM
AvaTrade
CySEC, ASIC
Regulators
ASIC, FSCA
1000:1
Leverage
400:1
MT4, MT5
Platforms
MT4, MT5
0.6 pips
Min. Spread
0.9 pips
USD 5
Min. Deposit
USD 100
IC Markets
Pepperstone
CySEC, ASIC
Regulators
FCA, ASIC
30:1
Leverage
30:1
MT4, MT5
Platforms
MT4, MT5
0.1 pips
Min. Spread
0 pips
USD 200
Min. Deposit
USD 0
AvaTrade
FxPro
ASIC, FSCA
Regulators
CySEC, FSCA
400:1
Leverage
200:1
MT4, MT5
Platforms
MT4, MT5
0.9 pips
Min. Spread
0.4 pips
USD 100
Min. Deposit
USD 100
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Best Forex Brokers in India

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Regulated by FCA
Licenced by
Min. Deposit
Cost of Trading
Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission.
Broker Score
Official Site
Compare
No
CySEC Regulated BrokersFinancial Services Conduct AuthorityMwali International Services Authority
USD 20
USD 6
4.37
/ 5
No
Financial Services Conduct AuthorityThe Seychelles Financial Services AuthorityCapital Markets AuthorityBritish Virgin Islands Financial Services Commission
Financial Services CommissionJordan Securities Commission
USD 10
USD 7
4.32
/ 5
No
CySEC Regulated BrokersASIC Regulated BrokersDFSA Regulated Forex BrokersInternational Financial Services Commission
Financial Services Conduct Authority
USD 5
USD 6
4.45
/ 5
No
ASIC Regulated BrokersFinancial Services Conduct AuthorityCySEC Regulated BrokersFinancial Services Agency
Central Bank of IrelandFinancial Regulatory Services AuthorityIsrael Securities Authority
USD 100
USD 9
4.59
/ 5
Yes
CySEC Regulated BrokersFCA Regulated Forex BrokersFinancial Services Conduct AuthorityDFSA Regulated Forex Brokers
Financial Services CommissionThe Seychelles Financial Services Authority
USD 0
USD 10
4.53
/ 5
No
CySEC Regulated BrokersASIC Regulated BrokersThe Seychelles Financial Services AuthoritySecurities Commission of the Bahamas
USD 200
USD 8
4.46
/ 5
No
ASIC Regulated BrokersCySEC Regulated BrokersFinancial Services Conduct AuthorityThe Seychelles Financial Services Authority
Financial Services CommissionCapital Markets Authority
AUD 100
USD 6
4.40
/ 5
Yes
FCA Regulated Forex BrokersASIC Regulated BrokersCySEC Regulated BrokersDFSA Regulated Forex Brokers
Bundesanstalt für FinanzdienstleistungsaufsichtSecurities Commission of the BahamasCapital Markets Authority
USD 0
USD 10
4.61
/ 5
No
CySEC Regulated BrokersASIC Regulated BrokersInternational Financial Services Commission
USD 5
USD 7
4.33
/ 5
Yes
FCA Regulated Forex BrokersCySEC Regulated BrokersASIC Regulated BrokersFinancial Markets Authority of New Zealand
DFSA Regulated Forex BrokersFinancial Services Authority – St. Vincent & the Grenadines
USD 0
USD 10
4.44
/ 5
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Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.

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