Pepperstone vs FP Markets: Which One Is Best?

2. Better Trading Platform – Pepperstone

Brokers that offer superior trading platforms in the forex market are strongly endorsed. They provide advanced charting tools, real-time market data, and lightning-fast execution speeds. These platforms improve trading with a user-friendly interface, customization, strong security, automated and social trading, and access to various financial instruments, enabling informed and efficient trades.

We have created a software questionnaire if you are unsure what platform best suits your trading style. Based on six simple questions, we can recommend the best trading software for your trading needs.

Metatrader

This section explores the MetaTrader platforms, acclaimed as the benchmark in trading technology. MetaTrader 4 (MT4) is favored for its robust security, backed by a vast user community and compatibility with numerous brokers. Meanwhile, MetaTrader 5 (MT5) emerges with enhanced features and an expanded array of Contracts for Difference (CFDs), signaling its potential as the preferred option for the future as MT4 gradually diminishes in prominence. In this case, both brokers as truly competitive in this field owing to their platforms. Both have MT4 and 5, as well as other platforms such as cTrader, TradingView, copytrading, and their proprietary platforms, these are highly needed in forex trading.

Our forex expert team simply compared the trading platforms of these two brokers, reviewing tools, order execution speed, research, ECN technology, social trading, and mobile capabilities.

FP Markets’ forex apps let you manage trading accounts on iPhone and Android, offering only MT4 and MT5. Traders can also use MetaTrader Webtrader to access their accounts via browsers.

Advanced Platforms

cTrader is a top trading platform providing direct interbank market access for algorithmic forex trading. It features a customizable interface, detachable charts, extensive back-testing, and advanced order options on iOS, Android, WebTrader, and desktop. Retail investors will benefit from valuable tools from both reviewed brokers. Aside from this platform, Pepperstone also offer copytrading by Pepperstone, cTrader Copy MetaTrader Signals, Expert Advisors and cTrader Automate. Meanwhile, FP Markets have MetaTrader Signals, Myfxbook AutoTrade, MetaTrader Signals, Expert Advisors, and their proprietary platform IRESS.

We can clearly see here that Pepperstone provides diverse copy and social trading tools for MetaTrader (MT4 and MT5) users, allowing access to 3 social platforms and 3 exclusive copy trading platforms. In contrast, FP Markets only offers MyFxBook AutoTrade for automated trading. Pepperstone’s third-party services offer more choices and trading opportunities.

Pepperstone and FP Markets offer mobile trading apps for forex. Pepperstone’s mobile experience on iOS and Android includes MT4, MT5, and cTrader, featuring real-time FX quotes, advanced charting, one-tap trading, a user-friendly interface, and over 50 default indicators.

Copy Trading

trading is important in forex as it enables beginners to replicate strategies of successful traders, enhancing learning and profitability. It saves time by allowing automatic trade execution without constant market monitoring. And both brokers’ copy trading platforms, Pepperstone’s (copy trading by Pepperstone), and FP Markets’ (MetaTrader Signals) are truly competitive and helpful to traders in the business.

Third-Party Plugins
Pepperstone offers advanced trading tools, including 28 Smart Trader Tools for MT4 and MT5 and Autochartist with pattern recognition and market reports. FP Markets provides the MetaTrader 4 Trader Toolbox with 12 tools and also includes Autochartist for both MT4 and MT5.

Forex Trade Execution

Pepperstone’s No Dealing Desk model offers faster order execution at 30ms versus FP Markets’ 37ms. Its ECN pricing model connects clients to liquidity providers for reduced slippage. Real execution speeds show Pepperstone at 85ms compared to FP Markets’ 95ms. FP Markets provides DMA through its IRESS platform.

Our Better Trading Platform Verdict

Based on the range of platforms offered, accessibility, usability, execution speed, third-party plugins, technical tools, social trading integration and mobile trading apps, Pepperstone steal the show in this category this is due to their better trading platform.

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*Your capital is at risk ‘75.9% of retail CFD accounts lose money’

3. Superior Accounts And Features – Pepperstone

In the industry of forex trading, choosing brokers with superior accounts and features is highly advantageous. Brokers provide customized options for traders, featuring competitive spreads, low commissions, and advanced tools. They also offer demo accounts, swap-free alternatives, and diverse financial instruments. Enhanced features like social trading, automated trading, and excellent customer support improve the trading experience and foster client loyalty.

In our Pepperstone vs FP Markets comparison, we evaluate which Australian forex broker offers the better trading account for your needs. Pepperstone and FP Markets offer these 2 retail investor accounts:

• Standard account with no commissions and mark-up spreads
• Commission-based account with raw spreads derived directly from the Interbank market

Additional Account Types

Pepperstone

Pepperstone has 3 other account types available. These include:

• Muslim traders via the Islamic account (swap-free) which can be with either Standard or Razor Account
• Professional money managers via PAMM and MAM trading accounts (supports 3 allocation methods including lot, percentage, and proportional)
• Active traders (via Premium Client account) which discount provided you meet minimum trading volume requirements. (see table below)

FP Markets

Australian FP Markets clients can choose from three IRESS accounts for trading, but the minimum deposit is steep at AUD $50,000, along with a $55 monthly fee. IRESS, suited for DMA share trading, is not available outside Australia. FP Markets also provides a Sharia-compliant Islamic account, charging a swap commission or administrative fee up to $33 instead of interest.

Our Superior Accounts and Features Verdict

Overall, Pepperstone came first in our star scoring system as it pertains to both beginner traders and professional traders, that is why we give them our hats off on this category owing to their superior accounts and feature.

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*Your capital is at risk ‘75.9% of retail CFD accounts lose money’

4. Best Trading Experience And Ease – Pepperstone

The ultimate trading experience is provided by brokers who are committed to simplifying the forex trading journey for traders. They deliver a blend of advanced trading platforms, lightning-fast execution speeds, competitive spreads, and outstanding customer support. Essential components enable traders to make informed decisions, execute trades easily, and manage accounts confidently. A user-friendly interface, educational resources, and diverse tools enhance the trading experience, making it more enjoyable and profitable.

Pepperstone excels in platform range, particularly MetaTrader 4, while FP Markets is favored for its diverse CFD offerings.

• Pepperstone is recognised as the best broker for MT4 trading.
• FP Markets is highlighted as the best broker for CFD trading.
• Pepperstone also excels in automation, with tools like Capitalise.ai enhancing the trading experience.
• Both brokers offer user-friendly interfaces, but the choice of platform can influence a trader’s preference.

After comparing both platforms, it’s clear each broker serves different trader needs. However, Pepperstone offers a better overall trading experience and ease of use with its tools and platform.

Our Best Trading Experience and Ease Verdict

So, our team finally decided which broker steals the show, Pepperstone definitely took our attention and takes the cake with ease, this is due to their best trading experience and ease.

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*Your capital is at risk ‘75.9% of retail CFD accounts lose money’

5. Stronger Trust And Regulation – Pepperstone

Strengthening trust and regulation in the forex trading industry is imperative. This crucial element guarantees a secure and transparent trading environment. Regulated brokers ensure trader safety against fraud, boosting confidence and encouraging investment. Reliable brokers attract more clients and enhance their reputation through strong oversight.

Pepperstone Trust Score

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FP Markets Trust Score

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We can see here that both brokers are well-regulated by reputable authorities, making them safe. Pepperstone and its divisions are authorized for online trading in tier-one and offshore jurisdictions.

• Australia – Pepperstone Australia – by the Australian Securities and Investments Commission (ASIC)
• United Kingdom – Pepperstone UK – by the Financial Conduct Authority (FCA)
• Europe – the Cyprus Securities and Exchange Commission (CySEC)
• Germany – BaFin
• UAE – Pepperstone AE – by the Dubai Financial Services Authority (DFSA)
• Kenya – the CMA
• Internationally – Pepperstone Markets – by the Securities Commission of the Bahamas (SCB)

Meanwhile, FP Markets and its corporate divisions are regulated in the following jurisdictions:

• Australia – First Prudential Markets Pty Ltd – by the ASIC
• Europe – First Prudential Markets Ltd – by the Cyprus Securities Exchange Commission (CySEC)
• Internationally – First Prudential Markets LLC, an entity registered in St. Vincent and the Grenadines

Money Protection

Clearly, both brokerages ensure client funds are segregated and secured in reputable banks. Only Pepperstone provides Negative Balance Protection for retail clients under FCA, ASIC, and CySEC regulations. The Best Forex Brokers in Australia also use an automated margin call system to liquidate positions if equity falls below 50% of margin requirements, protecting against total investment loss.

We have an automated stop-out policy designed to minimise your losses and to take action before the market moves further against your open contracts – Pepperstone.

Pepperstone provides retail clients with risk management tools like Stop Loss orders to safeguard positions against market shifts. A strict money management approach is recommended. The FCA offers investor protection of up to GBP 85,000 through the FSCS.

Our Stronger Trust and Regulation Verdict

Having reached this portion, our team can easily surmise that Pepperstone stands out in this category this is in light of their stronger trust and regulation. FYI: Pepperstone is licensed in many jurisdictions and is a global leader in retail FX, ensuring fund safety and a fair trading environment for clients.

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*Your capital is at risk ‘75.9% of retail CFD accounts lose money’

6. Top Product Range And CFD Markets –  Pepperstone

Top product range and extensive CFD markets is definitely a go-to for traders in the business of forex trading. This feature enables traders to diversify portfolios and profit from varying market conditions. Brokers with diverse financial instruments, like forex, commodities, and cryptocurrencies, enhance trading opportunities and experiences.

Both brokerages focus on Forex trading with true ECN/STP conditions. They offer 7 asset classes, but Pepperstone has a clear advantage with over 180 instruments compared to FP Markets’ 140.

Forex Trading With Pepperstone And FP Markets

Pepperstone offers leveraged trading with 66 currency pairs, while FP Markets offers 61. Pepperstone supports forex trading on MetaTrader 4, MetaTrader 5, and cTrader across Standard and ECN accounts. FP Markets clients only use MT4 and MT5 for FX trading.

FX traders can speculate on the price movement of the following popular FX pairs:

• EUR/USD, GBP/USD, AUD/USD, USD/JPY, USD/CAD and USD/CHF with 0.0 pip spreads on Pepperstone’s Razor Account and FP Markets’ Raw Spread Account.
• Minors such as EUR/GBP with a minimum spread of 0.0 pips on Pepperstone’s Razor Account and 0.2 pips on FP Markets’ Raw Account
• Exotics such as USD/SGD with a minimum spread of 0.5 pips on Pepperstone’s Razor Account and 0.8 pips on FP Markets’ Raw Account

Cryptocurrency Trading

Pepperstone offers 6 cryptocurrencies for trading with up to 1:2 leverage in Australia and Europe with no commissions. However, retail accounts under FCA regulation cannot trade them. Both brokers offer Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and Ripple, while Pepperstone also provides Dash, unavailable with FP Markets.

CFD Trading

CFDs are complex instruments that involve a high risk of losing capital rapidly as leverage is used. Both brokers offer a good range of CFDs covering several asset classes, including:

• Stocks – FP Markets offers two options – first, direct market access to over 10,000 Shares CFDs traded on 9 major exchanges through its Iress platform; second, access to 54 Shares CFDs through its MetaTrader 5 platform. FP Markets also offers access to real Stocks traded on the Australian Securities Exchange only. In comparison, Pepperstone offers CFDs on 64 US Shares, which can be traded with commissions as low as $0.02 per share on its MetaTrader 5 platform
• Stock Indices – CFDs on 14 major indices with Pepperstone vs CFDs on 12 stock indices with FP Markets
• Commodities – CFDs on 12 Energies and Soft Commodities, 10 Metal pairs with Pepperstone vs 5 Commodity CFDs contracts and 4 CFD contracts on Spot Metals with FP Markets
• Currency Index – CFDs on 3 currency indices (USDX, EURX and JPYX) with Pepperstone versus 1 tradable currency index with FP Markets

Our review has found that none of the two brokerages has ETFs or Bonds included in their CFD product list.

Our Top Product Range and CFD Markets Verdict

This time around, we can see that FP Markets finally dominates this category thanks to their top product range and CFD  markets. FP Markets clients can access over 10,000 stocks and various trading instruments.

Pepperstone ReviewVisit Pepperstone

*Your capital is at risk ‘75.9% of retail CFD accounts lose money’

7. Superior Educational Resources – Pepperstone

Superior educational resources is the key to the success of a trader in the business of forex trading. This feature offers traders extensive learning resources in forex trading, such as webinars, articles, videos, and courses. These materials equip traders to make informed decisions and improve their strategies, promoting continuous learning and long-term success.

Pepperstone:
Pepperstone provides extensive educational resources like webinars, seminars, and tutorials for both beginners and experienced traders, along with eBooks, articles, and market analysis support.

• Offers a comprehensive range of educational materials.
• Provides webinars, seminars, and tutorials for traders.
• Features a dedicated section for beginner traders.
• Includes advanced trading strategies for experienced traders.
• Has a rich library of eBooks and articles.
• Supports traders with market analysis and insights.

FP Markets:

FP Markets offers diverse educational resources, including webinars, workshops, and a novice section with advanced trading insights. It provides trading eBooks, daily market analysis, and multilingual webinars.

• Provides a diverse range of educational resources.
• Conducts regular webinars and workshops for traders.
• Has a section dedicated to novice traders.
• Offers insights into advanced trading techniques.
• Features a collection of trading eBooks and guides.
• Equips traders with daily market analysis.
• Webinars in multiple languages that cover all types of traders, on a regular basis.

Our Superior Educational Resources Verdict

Based on our team’s testing, we can easily say that Pepperstone outshines the challenger in this category by the reasone of superior educational resources.

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*Your capital is at risk ‘75.9% of retail CFD accounts lose money’

8. Superior Customer Service – Pepperstone

Superior customer service is another feature a broker can hand over to their clients in the business of forex trading. This feature is crucial for providing traders with timely support, ensuring a confident trading experience. It includes 24/7 live chat, phone, and email support in multiple languages, helping resolve issues quickly and enhancing satisfaction and trust in the broker.

Both forex brokers provide multilingual 24/5 customer support through live chat, email, and phone. Pepperstone ranked #1 for Forex Trading Support (Europe) and received awards for client relationship management. We were impressed by the quick and precise responses from their live chat regarding ECN pricing and Shares CFD commissions. Clients can also reach Pepperstone via +613 9020 0155 or Australia’s toll-free number 1300 033 375.

Additionally, Pepperstone has provided an online messaging form in the “Contact Us” section on its website.

Our Superior Customer Service Verdict

Evidently, Pepperstone excels in the category as a result of their superior customer service which outclasses the challenger as we put the education and analysis tools side by side.

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*Your capital is at risk ‘75.9% of retail CFD accounts lose money’

9. Better Funding Options – A Tie

Enhanced funding options provide traders with increased flexibility and convenience in their trading activities. These options include bank transfers, credit/debit cards, digital wallets like PayPal, Skrill, Neteller, and cryptocurrencies. Offering low- or no-fee methods allows traders to manage accounts and deposit/withdraw funds easily, enhancing their trading experience.

Based our dedicated team’s research and study, both Pepperstone and FP Markets allow traditional funding methods like debit or credit card by Visa or MasterCard and bank transfer. Other shared payment methods include the following electronic wallets:

• PayPal
• POLi
• BPay
• Skrill
• Neteller

Additionally, Pepperstone also supports Union Pay. In comparison, FP Markets clients can fund their trading account by using some extra funding options like:

• PayTrust (local bank transfer)
• Fasapay
• OnlinePay
• Klarna
• Broker to broker
• Nganluong.vn (Vietnamese clients)
• Directa24 (South America)

As for FP Markets withdrawal fees, depending on the funding method used, you can expect to pay up to 1.5%. With Pepperstone, you don’t have to worry about any type of withdrawal fees.

Pepperstone will not charge any deposit fees or withdrawal fees, regardless of the payment method chosen by clients. In comparison, FP Markets will not charge any deposit fees, but there will be a withdrawal fee associated with some of the funding options.

Our Better Funding Options Verdict

In this section, we can surmise that both FP Markets and Pepperstone are tied due to their better funding options.

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10. Lower Minimum Deposit – Pepperstone

Lower minimum deposit requirements are a fantastic enhancement for forex brokers, making the market more accessible to a broader spectrum of traders, including novices and individuals with limited capital. This feature allows traders to enter the market with a smaller investment, reducing financial barriers and promoting inclusivity. It encourages participation and offers a chance to gain experience without a large initial investment.

Pepperstone has a lower minimum deposit of $0, while FP Markets requires $100. Plus500’s minimum varies by currency, with EUR having a €100 minimum. Despite FP Markets’ higher minimum, it remains reasonable since Pepperstone suggests $200 to start trading.

Our Lower Minimum Deposit Verdict

Technically, Pepperstone claims the crown in this category this is in account of their lower minimum deposit that gives an added push to be considered as the better option here.

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*Your capital is at risk ‘75.9% of retail CFD accounts lose money’

So Is FP Markets or Pepperstone The Best Broker?

Pepperstone outperforms almost in all category in this review all because it offers better trading conditions in terms of lower average spreads, greater trust factors, trading platform range, and superior customer service.

The table below summarises the key information leading to this verdict:

Pepperstone: Best For Beginner Traders

Pepperstone is better suited for beginner traders due to its comprehensive range of educational materials, user-friendly platforms, and dedicated customer support.

Pepperstone: Best For Experienced Traders

Pepperstone is the preferred choice for experienced traders, offering a wider range of tradable financial instruments and a proprietary trading platform, IRESS, exclusive for Australian traders.