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FP Markets vs Pepperstone: Comparison and Analysis

Written by Filippo Ucchino Fact-Checked by Luca Puddu Publication Date Last Updated
Our verdict · CFD/FX trading

FP Markets and Pepperstone are two great brokers in Australia for scalping, automated trading and crypto trading. However, FP Markets is the better choice if you are looking for more tradable symbols (10,000 against 1,350), while Pepperstone is better because it has a lower EUR/USD cost (US$9.00 per lot against US$10.40) and a proprietary trading platform. Pepperstone allows high-frequency trading strategies and has faster withdrawals (2 days against 4 days). FP Markets has ECN accounts and corporate accounts, while Pepperstone has managed accounts. FP Markets and Pepperstone are both regulated in Australia by ASIC. Neither broker asks for a minimum deposit, and both have a demo account.

FP Markets

CFDCFD FP Markets offers CFD trading: leveraged contracts that follow the price of an asset without owning it. Switch the comparison to CFD/FX to rate it on that. FXFX FP Markets offers forex trading: currency pairs such as EUR/USD, traded with leverage. Forex is rated together with CFDs, on the CFD/FX side. Regulated in your country FP Markets is allowed by ASIC to onboard clients residing in Australia.
FP Markets review ›
83CFD/FXOverall score FP Markets scores 83/100 for CFD/FX trading. The overall score is calculated from the data in this comparison across 12 areas.
Open Account

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Pepperstone

CFDCFD Pepperstone offers CFD trading: leveraged contracts that follow the price of an asset without owning it. Switch the comparison to CFD/FX to rate it on that. FXFX Pepperstone offers forex trading: currency pairs such as EUR/USD, traded with leverage. Forex is rated together with CFDs, on the CFD/FX side. Regulated in your country Pepperstone is allowed by ASIC to onboard clients residing in Australia.
Pepperstone review ›
83CFD/FXOverall score Pepperstone scores 83/100 for CFD/FX trading. The overall score is calculated from the data in this comparison across 12 areas.
Open Account

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Best for

What we compare A comparison of the kinds of traders FP Markets and Pepperstone are best suited to, based on what each one actually offers in Australia.
1 / 12

Pepperstone is better than FP Markets for high-volume traders. Professional traders, scalpers and swing traders can choose either Pepperstone or FP Markets.

Best for
Overall score FP Markets 83 Pepperstone 83
Day trading i
Long-term investing i
Professional traders i
High-volume traders i
Scalpers i
Swing traders i
News traders i
Algo traders i
Stock traders i
Crypto traders i
Futures traders i
Options traders i

Regulation

What we compare A comparison between the financial authorities that supervise FP Markets and the ones that supervise Pepperstone.
2 / 12

FP Markets and Pepperstone are both regulated in Australia, by ASIC.

Regulation
Section score FP Markets 100 Pepperstone 100
Tier-1 regulators
ESMA (European Union) i
FCA (United Kingdom) i
ASIC (Australia) i
CFTC (United States) i
NFA (United States) i
SEC (United States) i
CIRO (Canada) i
MAS (Singapore) i
SFC (Hong Kong) i
JFSA (Japan) i
FINMA (Switzerland) i
Tier-2 regulators
FMA (New Zealand) i
CBR (Russia) i
FSCA (South Africa) i
DFSA (Dubai) i
CSRC (China) i
ISA (Israel) i
LFSA (Malaysia) i
JSC (Jordan) i
CMA (Kenya) i
Tier-3 regulators
FSA (Seychelles) i
MMA (Maldives) i
SCB (Bahamas) i
FSC (Mauritius) i
VFSC (Vanuatu) i
FSC (Belize) i
CIMA (Cayman Islands) i
SV FSA (Saint Vincent and the Grenadines) i
FSRC (St. Kitts & Nevis) i
BMA (Bermuda) i
BVI FSC (British Virgin Islands) i
EDR (External Dispute Resolution) i

Safety

What we compare A comparison of the tools and services that FP Markets and Pepperstone have in place to protect your money in Australia.
3 / 12

Both FP Markets and Pepperstone offer segregated client funds and two-factor authentication.

Safety
Section score FP Markets 66 Pepperstone 65 -1
Company info
Is it publicly traded i
Is it a bank i
Year founded i 2005 2010
Parent company i First Prudential Markets Pty Ltd Pepperstone Group Limited
CEO i Craig Allison Tamas Szabo
Money safety
Segregated client funds i
Two-factor authentication i
Investor compensation scheme i
Additional money insurance i
Partner bank i N/A N/A
Brand power
Number of customers worldwide i 909,000
Annual revenue i US$13,000,000
Monthly website search traffic i 563.6K monthly visits 1.3M monthly visits

Costs

What we compare A comparison of what it costs to trade with FP Markets and with Pepperstone in Australia, both on each trade and on holding the account.
4 / 12

Pepperstone is better than FP Markets for costs, because Pepperstone is cheaper on EUR/USD, at US$9 per lot (against FP Markets' US$10.4), has tighter gold CFD spreads, at 0.21 points (against FP Markets' 0.24 points), and charges lower Bitcoin CFD fees, at US$15 (against FP Markets' US$23.6). Neither FP Markets nor Pepperstone charges inactivity fees or account maintenance fees.

Costs
Section score FP Markets 62 -12 Pepperstone 74 Best
Broker fees
Deposit fees i
Withdrawal fees i
Overnight fees i
Inactivity fees i
Currency conversion fees i
Discounts on volume i
Real time market data fee i
Dividend withholding i
Account opening fees i
Account maintenance fee i
Portfolio management fee i
Fees on CFDs
Forex commission per lot i US$6 US$7
EUR/USD average standard spread i
1.29 pips
1 pips
EUR/USD average raw spread i
0.19 pips
0.1 pips
EUR/USD average fixed spread i
EUR/USD total cost per lot i US$10.4 US$9
S&P 500 fees (CFD) i 0.25 points 0.5 points
Gold fees (CFD) i 0.24 points 0.21 points
Bitcoin fees (CFD) i US$23.6 US$15
US stocks fees (CFD) i US$0.02 US$0.02
Fees on stocks
Stock fee type i Commission, Percentage Commission, Percentage
US stocks fees (real) i
ETF fees (real) i
Management costs i
Connection costs i
Fees on futures
Futures fees per contract i
Platform fees i
Fees on options
Options fees per contract i
Event fees i
Fees on savings plans
IRA opening fee i
IRA maintenance fee i
401k opening fee i
401k maintenance fee i

Available markets

What we compare A comparison of the markets and products you can trade with FP Markets and with Pepperstone in Australia, and of how many instruments each one gives access to.
5 / 12

FP Markets and Pepperstone are close on available markets. Both FP Markets and Pepperstone offer CFDs on commodities, crypto, ETFs, forex, indices and stocks. FP Markets has a slight edge, as it gives access to 10,000 tradable symbols (against Pepperstone's 1,350).

Available markets
Section score FP Markets 75 Pepperstone 75
Total tradable symbols i 10,000 1,350
Currency pairs i
Indices i
Commodities i
Stocks i
ETF i
Cryptocurrencies i
Bonds i
Interest rates i
Portfolios i
CFDs i Commodities, Crypto, ETF, Forex, Indices, Stocks Commodities, Crypto, ETF, Forex, Indices, Stocks
Futures i
Options i
Assets you can own i

Platform

What we compare A comparison of the trading platforms that FP Markets and Pepperstone make available to their clients in Australia.
6 / 12

Pepperstone is better than FP Markets for platforms, as Pepperstone offers a proprietary platform, social trading and copy trading, which FP Markets does not. FP Markets and Pepperstone both offer cTrader and MetaTrader 5.

Platform
Section score FP Markets 83 -14 Pepperstone 97 Best
Proprietary platform i
MetaTrader 4 i
MetaTrader 5 i
cTrader i
Social trading platform i
Copy trading platform i
ZuluTrade i
TradingView i
Duplitrade i
Mirror Trader i
NinjaTrader i
AutoChartist i
Real time pricing i
5 digit pricing i
One-click trading i

Mobile

What we compare A comparison of the mobile apps of FP Markets and Pepperstone in Australia, and of what each one lets you do from your phone.
7 / 12

FP Markets and Pepperstone are equally good for mobile trading, as both offer a proprietary mobile app and the cTrader app.

Mobile
Section score FP Markets 86 Pepperstone 86
Proprietary app i
Social trading app i
Copy trading app i
MetaTrader 4 app i
MetaTrader 5 app i
cTrader app i
Mobile trading signals i
Mobile alerts i
Mobile charting tools i
Mobile drawing tools i
Mobile watchlist i
Smartwatch app i

Trading features

What we compare A comparison of the trading tools and strategies that FP Markets and Pepperstone allow on their platforms in Australia.
8 / 12

Pepperstone is better than FP Markets for trading features, given that Pepperstone allows for high-frequency trading. FP Markets and Pepperstone both offer negative balance protection and trailing stops.

Trading features
Section score FP Markets 83 -4 Pepperstone 87 Best
Trade execution
Broker type i Hybrid Hybrid
Average execution time i 48 ms 50 ms
Slippage occurrence i
Requotes occurrence i 0% 0.08%
Tier-1 liquidity providers i
PFOF i
Leverage
Major FX pairs leverage i 30:1 30:1
Minor/Exotic FX pairs leverage i 20:1 20:1
Major indices leverage i 20:1 20:1
Minor indices leverage i 10:1 10:1
Gold leverage i 20:1 20:1
Commodities leverage i 10:1 10:1
Equities leverage i 5:1 5:1
Cryptocurrency leverage i 2:1 2:1
Risk management
Stop losses i
Take profits i
Limit orders i
Trailing stop i
Margin call i
OCO orders i
Guaranteed stop loss i
Negative balance protection i
Minimum trade size (FX) i 0.01 lots 0.01 lots
Minimum trade size (stocks) i US$1 US$1
Fractional stocks i
Trading compliance
Scalping strategies allowed i
Hedging strategies allowed i
Automated trading strategy allowed i
EAs use allowed i
HFT strategy allowed i
VPS use allowed i
API use allowed i
Price scraping allowed i
FIFO rule applies i

Account types

What we compare A comparison of the kinds of account you can open at FP Markets and at Pepperstone in Australia, and of who each one is meant for.
9 / 12

Pepperstone is better than FP Markets for account types, as Pepperstone offers a managed account and a copy trading account, which FP Markets does not. Both FP Markets and Pepperstone offer a demo account and a professional traders account.

Account types
Section score FP Markets 74 -3 Pepperstone 77 Best
Demo account i
Unlimited demo account i
Standard account i
Micro account i
Cent account i
Nano account i
Raw spread account i
ECN account i
Swap-free account i
Islamic account i
Professional traders account i
Fixed spread account i
Spread betting account i
Copy trading account i
Corporate account i
Managed account i
Stock investing account i
Margin investing account i
Savings account i
Retirement account i

Account opening

What we compare A comparison of what it takes to open and fund an account with FP Markets and with Pepperstone in Australia.
10 / 12

FP Markets is better than Pepperstone for account opening, since FP Markets offers 11 account base currencies (against Pepperstone's 6). Neither FP Markets nor Pepperstone requires a minimum deposit.

Account opening
Section score FP Markets 90 Best Pepperstone 85 -5
Minimum deposit i US$0 US$0
Minimum withdrawal i US$0 US$0
Wire transfers i
Credit cards i
Debit cards i
eWallets i PayPal, Neteller, Skrill PayPal, Neteller, Skrill
Local payment methods i
Account base currencies i AUD, CAD, SGD, USD, EUR, GBP, HKD, JPY, NZD, CHF, PLN USD, EUR, GBP, AUD, SGD, HKD
Deposit waiting time i up to 3 business days Instant
Withdrawal waiting time i up to 4 business days up to 2 business days
Bonus program i

Customer care

What we compare A comparison of the customer support of FP Markets and Pepperstone in Australia, in how it can be reached and how fast it answers.
11 / 12

FP Markets is better than Pepperstone for customer care, given that FP Markets offers customer support in 12 languages (against Pepperstone's 10), has a website in 10 languages (against Pepperstone's 9), and offers call-back requests, which Pepperstone does not. Both FP Markets and Pepperstone offer a dedicated account manager and phone support.

Customer care
Section score FP Markets 83 Best Pepperstone 78 -5
Number of languages supported i 12 10
Website languages i Arabic, German, English, French, Italian, Malay, Portuguese, Russian, Spanish, Vietnamese Arabic, English, Italian, Korean, Polish, Russian, Spanish, Vietnamese, Chinese
Website available in English i
Customer support languages i Arabic, German, English, French, Indonesian, Italian, Korean, Malay, Portuguese, Spanish, Thai, Chinese Arabic, English, Italian, Korean, Polish, Russian, Spanish, Thai, Vietnamese, Chinese
Customer support in English i
Call back request i
Email support i
Phone support i
Live chat i
Priority customer support i
Dedicated account manager i
Cash sweep i
Stock lending i
Distributes proceeds i
Tax withholding agent i
Tax assistance i

Learning

What we compare A comparison of the educational material that FP Markets and Pepperstone provide to their clients in Australia.
12 / 12

FP Markets is better than Pepperstone for learning, as FP Markets offers professional reports and a glossary, which Pepperstone does not. Both FP Markets and Pepperstone offer education for advanced traders and webinars.

Learning
Section score FP Markets 100 Best Pepperstone 84 -16
Education
Education center i
Education for beginners i
Education for advanced traders i
Webinars i
Tutorials i
Glossary i
Research
Economic calendar i
Traders' sentiment i
Daily market commentary i
Daily trading ideas i
News via social media i
Professional reports i
Watchlist i
FP Markets
Open Account CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Pepperstone
Open Account CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Our verdict

FP Markets vs Pepperstone: which one should you choose?

FP Markets

CFD/FX Choose FP Markets if you want an online CFD broker with a wide choice of markets and ECN accounts.

Open Account CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Pepperstone

CFD/FX Choose Pepperstone if you want a CFD and forex broker with a proprietary trading platform, managed accounts and low spreads.

Open Account CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

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