RoboForex vs Pepperstone - 2024 Comparison | FxScouts
AuthorAuthor: Björn MichelsUpdated: Nov 15, 2023

Last Updated On Nov 15, 2023

Björn Michels

Trading with a reputable online broker is a crucial factor for success in the international markets. At FxScouts, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

Select brokers to compare

How do Pepperstone and RoboForex stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

Pepperstone

RoboForex

At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare Pepperstone and RoboForex, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does Pepperstone or RoboForex have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that Pepperstone holds three Tier 1 and two Tier 2 licences, and RoboForex holds no Tier 1 and no Tier 2 licences.

 

Is Pepperstone financially regulated?

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

 

Is RoboForex financially regulated?

No RoboForex is not adequately regulated.

 

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

Does Pepperstone or RoboForex have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that RoboForex has overall lower trading costs than Pepperstone. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
RoboForex
11110.54.5/ 5
USD, EUR, Gold
0.00 pips
USD 4
0.00 pips
0.70 pips
0.40 pips
USD 4
Pepperstone
11110.54.5/ 5
AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD
1.00 pips
USD 10
0.17 pips
0.59 pips
0.26 pips
USD 0

 

Does Pepperstone or RoboForex offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, Pepperstone offers support for MT4, MT5, cTrader and TradingView and RoboForex offers support for MT4 and MT5. 

Do the brokers offer copy trading?

In this case both Pepperstone and RoboForex offer copy trading.

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Broker
Platform Choice
Copy Trading
Platforms
RoboForex
11110.54.5/ 5
Pepperstone
111115/ 5
TradingView

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that Pepperstone offers a greater range and depth of instruments to trade than RoboForex. Pepperstone offers 100 Forex pairs to trade and RoboForex offers 40 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, Pepperstone offers 19 cryptocurrencies while RoboForex offers 0 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with Pepperstone.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that RoboForex charges a withdrawal fee and Pepperstone does not. Overall, Pepperstone has better deposit and withdrawal processes than RoboForex. 

Which broker offers better 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. 

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

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Broker
Beginner Course
Advanced Course
RoboForex
Pepperstone

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

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

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
RoboForex
Pepperstone

 

Our overall Verdict on 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. 

Our overall Verdict on RoboForex

With a wide range of financial instruments available on four different trading platforms (MT4, MT5, cTrader, and R Stock Trader), RoboForex appeals to traders who value low trading costs and a broad range of account choices.

RoboForex offers four live CFD accounts with a minimum deposit of only 10 USD. The commission-free CFD accounts have a spread of 1.3 pips, which is slightly wider than other brokers, but traders can choose to trade in smaller trade sizes, known as micro-lots. The ECN and Prime Accounts have spreads that start at 0.00 pips (EUR/USD) but commissions of only 4 USD and 2 USD, respectively - some of the lowest in the industry.

RoboForex also stands out for the number of financial instruments on offer, including over 12,000 stocks, 1,000 ETFs, 100 commodities, 40 Forex pairs, 26 cryptocurrencies, and indices. Support is offered for numerous trading platforms, including industry favourites such as MT4, MT5, and cTrader in addition to its intuitive and easy-to-set up R-trader. 

In conjunction with third-party provider, Claws and Horns, RoboForex's educational and market analysis materials are well-organized and in-depth, a real benefit to beginner traders. 

One drawback is that although RoboForex is an international broker, it is only regulated by the IFSC in Belize, which means that regulatory oversight is weaker than other brokers. Additionally, traders should be aware that RoboForex charges high withdrawal fees.

Which broker has the highest overall rating?

Pepperstone has an overall rating of 4.61 and RoboForex has an overall rating of 3.00. For more detail please read our reviews of Pepperstone and RoboForex.

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