FXCM vs Pepperstone: Which One Is Best?

2. Better Trading Platform – Pepperstone

For those traders who will commence on their trading journey, it’s vital to recognize the significance of an exceptional trading platform.A superior platform is essential for brokers, improving user experience with advanced tools, swift execution, and reliable performance. This attracts more clients, boosts trading volume, and enhances the broker’s reputation. It also enables traders to make informed decisions, leading to greater success and satisfaction.

Our team has developed a questionnaire to help you find the best trading software for your style based on six simple questions.

Metatrader

Pepperstone and FXCM offer robust forex trading software on multiple devices, featuring MetaTrader 4 (MT4). The key difference is that FXCM operates as a market maker, potentially creating conflicts of interest, while Pepperstone uses an ECN model for greater transparency.

Pepperstone offers more platforms, including MetaTrader 5 and cTrader, known for advanced features, while FXCM provides TradeStation, MT4, NinjaTrader 8, and ZuluTrade. Overall, Pepperstone’s ECN model and varied platform options make it a preferred choice among traders.

Pepperstone and FXCM both offer desktop and mobile trading platforms. FXCM has an edge with its proprietary TradeStation, featuring a customizable dashboard for tracking important currency pairs. Meanwhile, Pepperstone provides the comprehensive MetaTrader 5 and the advanced cTrader platform, regarded as one of the best for FX and CFDs trading.

Advanced Platforms

At Compare Forex Brokers, our expert team has meticulously evaluated the technological solutions provided by Pepperstone and FXCM to determine which forex broker offers superior trading platforms. When comparing both brokers side by side, it’s clear that they each present a diverse array of specialized trading platforms tailored to meet a variety of trading styles. To identify which platform stands out with the best features, our industry professionals conducted a thorough analysis of each trading platform offered by these two brokers.

This included characteristics such as:

• Multiple Order Types
• Advanced Charting Capabilities
• Selection of Built-in Indicators
• Automation
• Execution Speed
• Stability and Functionality

In addition to the quality of the trading platform, our experts added extra value to the popularity element. Using a popular trading platform adds the extra benefit of getting the chance to interact with other fellow traders and exchange trading tips and tricks.

Copy Trading

FXCM’s ZuluTrade is a premier copy trading platform that empowers forex traders to adopt a variety of trading strategies crafted by professional traders worldwide. It serves as the perfect solution for mirror traders seeking to subscribe to forex trade signals that are seamlessly replicated in their personal trading accounts.

Pepperstone offers some of the best social trading platforms with 6 mirror trading tools and social trading platforms:

• ZuluTrade
• MetaTrader Trading Signals
• Myfxbook
• Mirror Trader
• RoboX
• DupliTrade

The head-to-head comparison revealed that both forex brokers offer powerful analytical tools. Pepperstone took extra points in our star scoring system due to its superior collection of technical tools that include:

• Autochartist
• Smart Trader Tools (28 trading Apps)
• Risk management tools
• Pattern recognition tools
• Professional Trade Terminal
• Sentiment Trader
• Market Scanners
• Expert Advisors
• And many more

Pepperstone’s trading platforms offer the most essential technological features that every Forex trader requires. While FXCM provides the MetaTrader 4 platform, it unfortunately lacks access to the advanced tools available with Autochartist. However, FXCM makes up for this deficiency with its acclaimed trading platform, TradeStation, which has garnered numerous awards for its superior performance.

FXCM TradeStation offers robust chart tools, including:

• Real Volume
• Market Depth
• Trader Sentiment
• Custom layouts
• News Calendar integrated directly into the platform
• Strategy backtesting and optimisation solution

In conclusion, Pepperstone provides advanced forex tools that help traders identify opportunities amidst market noise. In comparison, FXCM offers limited tools but still has exclusive chart options. Our experts deem Pepperstone the winner in this area.

Open a demo account with Pepperstone and FXCM to explore their trading platforms. Click below for exclusive offers.

Our Better Trading Platform Verdict

In this category, our team has easily surmised that Pepperstone ranks the highest owing it to their better trading platform.

Pepperstone ReviewVisit Pepperstone

*Your capital is at risk ‘75.3% of retail CFD accounts lose money’

3. Superior Accounts and Features – Pepperstone

Brokers offering superior accounts and features are essential for traders seeking success in the trading industry. They attract diverse traders, from beginners to experts, by offering flexibility and advanced tools. This improves client satisfaction and loyalty, increasing trading volumes and enhancing the broker’s reputation and competitiveness.

We compared forex brokers Pepperstone and FXCM, focusing on their account types. Both offer standard accounts for retail traders with various CFD products. They also provide accounts for active traders, including scalpers and algorithmic traders, with risk management and backtesting tools which are:

• Razor Account offered by Pepperstone
• Active Trader account offered by FXCM

Below, you can study the similarities and differences that come with the Pepperstone Razor account and the FXCM Active Trader account.

We can easily assume here that in comparison to both retail and commission-based accounts, Pepperstone’s CFD trading is slightly more beneficial. FXCM scored lower for its high $25,000 minimum deposit for Active Trader accounts, exceeding Oanda’s $20,000 requirement. Pepperstone excels in accessibility to premium accounts, with IC Markets matching its low entry level for such accounts.

Our Superior Accounts and Features Verdict

We can easily see here that Pepperstone takes the gold in this category thanks to their superior accounts and features.

Pepperstone ReviewVisit Pepperstone

*Your capital is at risk ‘75.3% of retail CFD accounts lose money’

4. Best Trading Experience And Ease – Pepperstone

When it comes to trading, the experience and ease of use are paramount. In forex trading, a best trading experience combines advanced platforms, fast execution, competitive spreads, and strong customer support. These elements enable informed decisions and efficient trade management. A user-friendly interface, educational resources, and diverse tools enhance the trading experience, making it enjoyable and profitable.

Through our comprehensive analysis and extensive testing, we have uncovered some intriguing insights that may pique your interest. For example, Pepperstone excels with its MetaTrader 4 platform, celebrated for its intuitive interface and robust features. In contrast, FXCM provides platforms such as TradeStation, which, although highly capable, may pose a steeper learning curve for certain users.

• Pepperstone: Known for its MetaTrader 4 platform, offering a seamless trading experience.
• FXCM: Offers platforms like TradeStation, which are feature-rich but might require some getting used to.
• Best for Automation: Our tests showed that both Pepperstone and Eightcap have integrated with Capitalise.ai, enhancing automated trading capabilities.
• Fastest Execution: Blackbull emerged as the broker with the fastest execution in our tests, ensuring timely trades.

Our Best Trading Experience and Ease Verdict

Based on our teams research and findings, Pepperstone outshines in this category this is due to their best trading experience and ease.

Pepperstone ReviewVisit Pepperstone

*Your capital is at risk ‘75.3% of retail CFD accounts lose money’

5. Stronger Trust And Regulation – Pepperstone

In the industry of forex trading, brokers that prioritize trust and regulatory compliance play a vital role in creating a secure and transparent trading environment. This cultivates trader confidence, draws in a larger client base, and nurtures enduring relationships. Furthermore, it acts as a safeguard against fraud, protecting traders’ investments and significantly boosting the broker’s reputation and competitive edge in the market.

Pepperstone Trust Score

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FXCM Trust Score

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When we speak of forex trading, trust and regulation are truly important. Both FXCM and Pepperstone have carved out their reputations as leading brokers, each with unique characteristics that set them apart. FXCM has a storied history, having supported retail and professional traders since 1999. Despite overcoming significant hurdles, including a bailout to prevent bankruptcy, it remains listed on the New York Stock Exchange (NYSE: FXCM) and is regulated across multiple jurisdictions.

Conversely, Pepperstone, based in Melbourne, Australia, is situated on the historic grounds of the Australian Stock Exchange (ASX). It benefits from robust regulation by both the Australian Securities and Investments Commission (ASIC) and the UK’s Financial Conduct Authority (FCA). This dual oversight positions Pepperstone among the elite, ensuring compliance with the stringent standards upheld by two of the world’s most esteemed regulatory bodies.

Our Stronger Trust and Regulation Verdict

It is easy to see here that Pepperstone comes up trumps thanks to their stronger trust and regulation this is due to their dual regulation from ASIC and FCA, making them the more trusted and regulated broker.

Pepperstone ReviewVisit Pepperstone

*Your capital is at risk ‘75.3% of retail CFD accounts lose money’

6. Top Product Range And CFD Markets – Pepperstone

A diverse range of CFD products and access to various financial markets are essential for forex trading. Diversity allows traders to expand portfolios and manage risks, enhancing profit potential through varying market conditions. It attracts more traders, increasing trading volume and improving brokers’ competitiveness.

Our leading industry experts used our due diligence process to establish which is the best forex broker in terms of financial markets and instruments available for trading. Both forex brokers Pepperstone and FXCM offer their clients a diversity of popular currency pairs and CFD instruments.

The table below shows side-by-side the range of CFD markets offered by Pepperstone and FXCM.

Pepperstone and FXCM offer trading software solutions available on desktop (PC and Mac), web-based platforms (WebTrader), and mobile trading (iOS and Android), both providing MetaTrader 4 (MT4). The key difference lies in their trading conditions. FXCM operates as a market maker, taking the opposite side of trades, whereas Pepperstone uses an ECN infrastructure, directly matching orders in the interbank market for greater transparency. Additionally, Pepperstone offers MetaTrader 5 (MT5) and cTrader, while FXCM provides TradeStation, NinjaTrader 8 for spread betting, and ZuluTrade for social trading. Overall, Pepperstone’s ECN model and additional platform options, such as MT5 and cTrader, offer traders more flexibility and transparency, making it a preferred choice in the forex trading community.

FXCM’s range of sector indices available on your FXCM trading account includes:

• Biotech
• FAANG
• CANNABIS
• Esports and Gaming
• China TECH
• China E-COMMERCE

FXCM’s Stock Baskets includes 5 stocks and operates like other stock indices. While both brokers provide the US Dollar Index, FXCM also lets forex traders speculate on two additional currency indices.

• Yen Index
• Emerging Market Index

FXCM offers a cryptocurrency basket (CryptoMajors) as a market benchmark, while both forex brokers provide the same cryptocurrency options excluding the index.

• Bitcoin
• Ethereum
• Litecoin
• Bitcoin Cash

The only difference between Pepperstone and FXCM is that the Australian-based FX broker offers Dash, while the New York-headquartered forex broker offers Ripple as an alternative digital currency.

Our research indicates that Pepperstone offers superior trading conditions for the cryptocurrency market, excelling in both leverage and spreads compared to FXCM. Pepperstone emerges as the clear winner, boasting hundreds more CFDs than FXCM. For a comprehensive view of available instruments, visit both brokers’ websites. Additionally, make sure to review their webinars and educational materials to gain deeper insights into the full range of services provided to retail forex traders. Pepperstone’s competitive edge in leverage, spreads, and CFD offerings underscores its favorable position in the forex trading landscape.

Our Top Product Range and CFD Markets Verdict

Our team has surmised that Pepperstone outperforms here in light of their top product range and CFD markets.

Pepperstone ReviewVisit Pepperstone

*Your capital is at risk ‘75.3% of retail CFD accounts lose money’

7. Superior Educational Resources – Pepperstone

Superior educational resources are important in the business of forex trading, offering webinars, articles, video tutorials, and structured courses. They equip traders with knowledge and skills for informed decisions, better strategies, and confident market navigation. Access to quality content promotes continuous learning and long-term trading success.

Based on our team’s research, we see that both FXCM and Pepperstone have invested significantly in this area, ensuring their clients have access to top-tier educational resources. From our analysis and our own testing, here’s a breakdown of what each broker offers:

• FXCM:
  • Provides comprehensive educational content tailored for beginners.
  • Offers webinars and seminars for hands-on learning.
  • Features a rich library of research articles and trading guides.
• Pepperstone:
  • Known for its in-depth video tutorials covering a range of topics.
  • Provides market analysis and insights from industry experts.
  • Offers a dedicated section for strategy development and risk management.

However, based on the scores from our testing, it seems there’s a clear winner in terms of educational offerings.

Our Superior Educational Resources Verdict

Clearly, we see that Pepperstone steals the crown on account of their superior educational resources making it the preferred choice for traders keen on continuous learning.

Pepperstone ReviewVisit Pepperstone

*Your capital is at risk ‘75.3% of retail CFD accounts lose money’

8. Superior Customer Service – A Tie

Brokers excelling in customer service in forex trading provide timely support through 24/7 live chat, phone, and email, including multilingual assistance. This fosters a seamless trading experience, resolves issues quickly, enhances satisfaction, and builds trust.

Our review process required both forex brokers to offer multiple channels of communication with their clients. The customer support service at Pepperstone and FXCM is available on a 24/5 basis. Forex traders can contact the support teams of these two respected brokers by using one of the following means of communication:

• Email
• Live chat
• Phone
• SMS (available only to FXCM)

FXCM has a stronger international presence with 11 offices worldwide across 4 continents, including the United States, Canada, Australia, the UK, and Hong Kong.

Both forex brokers provide satisfactory to excellent experiences, with swift and relevant responses to questions. A key advantage of an FXCM account is its quality customer service.

When assessing the quality of your interaction with the support team of these two forex brokers, we also took into consideration if Pepperstone and FXCM offer multilingual support. Our findings are as follows:

• Pepperstone supports 12 languages (English, Spanish, Arabic, Portuguese, Russian, Chinese and Vietnamese).
• FXCM supports +20 languages

Both forex brokers have gained industry-wide recognition through multiple awards that attest to the premier brokerage service offered by Pepperstone and FXCM.

Our team therefore concludes that the head-to-head comparison showed both forex brokers offering industry-leading service to their clients. Most forex traders appreciate the high standards and the commitment to provide an overall superior customer experience. Try your trading skills by opting for a demo account with your favourite forex broker and gain more experience before you risk real capital.

Our Superior Customer Service Verdict

We definitely have a tie here for both Pepperstone and FXCM this is due to their superior customer service.

View FXCM ReviewVisit FXCM

*Your capital is at risk ‘67% of retail CFD accounts lose money’

9. Better Funding Options – Pepperstone

Brokers that provide superior funding options empower traders by offering them flexibility and convenience.These options include bank transfers, credit and debit cards, digital wallets like PayPal and Neteller, and cryptocurrencies. By offering various low or no-fee funding methods, brokers simplify account management, making deposits and withdrawals easier and improving the overall trading experience.

Pepperstone has more account funding and withdrawal options (9 vs. 6) compared to FXCM, which offers standard methods like debit/credit cards, bank wire transfers, and electronic wallets.

• Credit/debit cards
• EFT/bank wire
• Skrill
• Neteller
• Klarna
• Rapid Transfer

Our Pepperstone review showed that the Australian-based forex broker supports most of the range of funding options offered by FXCM and some more, including PayPal, POLi, BPay, Union Pay, and MasterCard.

Deposits And Withdrawal Fees

Our dedicated team has determined that the deposit and withdrawal fee structures of forex brokers Pepperstone and FXCM are strikingly similar. FXCM charges a $40 withdrawal fee for bank transfers, while both Pepperstone and FXCM have no deposit fees. For detailed info on Pepperstone’s fees, visit their Fees page.

Credit and debit card transfers are instant with both forex companies, while the bank transfers take the standard 2-3 business days before the funds are cleared into your forex trading account.

Deposit Currency Supported

Our team of experts assessed if Pepperstone and FXCM’s trading accounts offer deposits in different foreign currencies. The ideal forex broker will offer different base currencies to accommodate the needs of forex traders from around the world.

In our FXCM review assessment, we placed a negative score because FXCM only supports the major currencies:

• USD
• EUR
• GBP

By comparison, Pepperstone, an Australian forex broker, supports more currencies than others, including USD, EUR, GBP, JPY, AUD, CAD, CHF, HKD, SGD, and NZD for deposits.

Based on our research and studies, we therefore conclude that in terms of the deposit and withdrawal methods, supported currencies, and transaction fees, our team of industry experts views Pepperstone as the overall winner in this section. The only advantage FXCM can offer is that you can start trading on the foreign exchange market with a minimum deposit for a live account of $50.

Our Better Funding Options Verdict

In this category, we can easily surmise that Pepperstone outperforms the challenger due to their better funding options.

Pepperstone ReviewVisit Pepperstone

*Your capital is at risk ‘75.3% of retail CFD accounts lose money’

10. Lower Minimum Deposit – Pepperstone

By offering lower minimum deposits, brokers enhance market accessibility for a diverse array of traders, including novices and those with constrained financial resources. This allows individuals to start trading with smaller investments, reducing financial barriers and fostering inclusivity. This encourages participation, enabling traders to gain experience and improve skills without a large initial investment.

Pepperstone has a lower minimum deposit of $0 than FXCM’s minimum of $50. These minimum amounts apply to all base currencies and most payment methods.

We have also discovered the deposit amount recommended by each broker.

Our Lower Minimum Deposit Verdict

Pepperstone has excelled in this category, this is due to their lower minimum deposit, making it accessible for beginner traders. However, we still have to keep in mind that the broker recommends that aspiring traders begin with around $200 to effectively start their trading journey.

Pepperstone ReviewVisit Pepperstone

*Your capital is at risk ‘75.3% of retail CFD accounts lose money’

Is Pepperstone or FXCM The Best Broker?

Pepperstone secures the top spot here because of its comprehensive offering across multiple key factors, including superior educational resources, better trading experience, and a broader product range.

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

Pepperstone: Best For Beginner Traders

For those just starting out in the trading world, Pepperstone offers a more beginner-friendly environment with its extensive educational resources and user-friendly platform.

Pepperstone: Best For Experienced Traders

For seasoned traders looking for advanced tools and a wider product range, Pepperstone stands out as the preferred choice.