Compare Pepperstone vs FXOpen
What is Pepperstone? What is FXOpen?
Pepperstone is a leading online broker with over 400,000 clients in more than 175 countries. The top-rated firm offers excellent market access, industry-leading platforms in MT4, MT5, TradingView and cTrader, plus low fees with no hidden charges. Pepperstone is also heavily regulated with a high trust score, holding licenses with reputable bodies, including the FCA, ASIC, DFSA, and CySEC.
FXOpen is a multi-asset broker with regulation from several trustworthy bodies including the UK’s FCA. The broker offers CFD trading on forex, stocks, commodities, indices, cryptocurrencies and ETFs via the MetaTrader 4 & 5 and TradingView platforms. FXOpen also provides a true ECN model, scalping and news trading options, copy trading services and various bonuses and contests for its clients.
Pepperstone vs FXOpen Regulation Comparison
Both Pepperstone and FXOpen are regulated by the UK’s Financial Conduct Authority (FCA), which is one of the most respected and stringent regulators in the world. The FCA requires brokers to adhere to strict standards of financial security, transparency and fair dealing. Both brokers also hold licenses from other reputable authorities in different jurisdictions, such as Australia (ASIC), Cyprus (CySEC) and Dubai (DFSA). However, Pepperstone has a higher number of tier-2 licenses than FXOpen, which indicates a higher level of trustworthiness and global reach.
| Broker | Tier-1 Licenses | Tier-2 Licenses | Tier-3 Licenses |
|---|---|---|---|
| Pepperstone | 3 | 2 | 0 |
| FXOpen | 3 | 0 | 0 |
Pepperstone vs FXOpen Trading Assets Comparison
Both Pepperstone and FXOpen offer CFD trading on a wide range of assets, including forex, stocks, commodities, indices and cryptocurrencies. However, Pepperstone has a much larger selection of tradable symbols than FXOpen, with over 2300 CFDs available compared to FXOpen’s 87. Pepperstone also offers more forex pairs (62 vs 25) and more indices (14 vs 11), as well as some unique instruments such as the US Dollar Index and soft commodities like cocoa and sugar.
| Broker | Tradeable Symbols | Forex Pairs | Indices | Cryptocurrencies |
|---|---|---|---|---|
| Pepperstone | 2342 | 62 | 14 | Yes (CFD) |
| FXOpen | 87 | 25 | 11 | Yes (CFD) |
Pepperstone vs FXOpen Trading Fees Comparison
Both Pepperstone and FXOpen offer competitive pricing for their clients, with low spreads and commissions on most instruments. However, the exact fees depend on the account type chosen by the trader. Pepperstone offers two main account types: Standard and Razor. The Standard account has no commissions but higher spreads, while the Razor account has lower spreads but charges a commission per lot traded. The average spread for EUR/USD on the Razor account is 0.12 pips. FXOpen also offers different account types: ECN, STP, Micro and Crypto. The ECN account has the lowest spreads but charges a commission per lot traded. The average spread for EUR/USD on the ECN account is 0.3 pips. Both brokers also charge swap fees for holding positions overnight.
| Broker | Account Types | Average Spread for EUR/USD | Commission per Lot |
|---|---|---|---|
| Pepperstone | Standard, Razor | 0.12 pips (Razor) | $7 (Razor) |
| FXOpen | ECN, STP, Micro, Crypto | 0.3 pips (ECN) | $5 (ECN) |
Pepperstone vs FXOpen Account Types Comparison
Both Pepperstone and FXOpen offer multiple account types to suit different trading styles and preferences. However, there are some differences in the minimum deposit requirements, leverage levels and access to instruments between them. Here is a brief overview of the main features of each account type:
Pepperstone Account Types:
- Standard: This account type has no commissions but higher spreads. It requires a minimum deposit of $200 or equivalent in other currencies. It offers leverage up to 1:30 for retail clients and up to 1:500 for professional clients. It provides access to all instruments except cryptocurrencies.
- Razor: This account type has lower spreads but charges a commission per lot traded. It requires a minimum deposit of $200 or equivalent in other currencies. It offers leverage up to 1:30 for retail clients and up to 1:500 for professional clients. It provides access to all instruments except cryptocurrencies.
FXOpen Account Types:
- ECN: This account type has the lowest spreads but charges a commission per lot traded. It requires a minimum deposit of $100 or equivalent in other currencies. It offers leverage up to 1:30 for retail clients and up to 1:500 for professional clients. It provides access to all instruments except stocks and ETFs.
- STP: This account type has no commissions but higher spreads. It requires a minimum deposit of $10 or equivalent in other currencies. It offers leverage up to 1:30 for retail clients and up to 1:500 for professional clients. It provides access to all instruments except stocks and ETFs.
- Micro: This account type is designed for beginners and small traders. It requires a minimum deposit of $1 or equivalent in other currencies. It offers leverage up to 1:500 for all clients. It provides access to 28 currency pairs and some precious metals.
- Crypto: This account type is dedicated to cryptocurrency trading. It requires a minimum deposit of $10 or equivalent in other currencies. It offers leverage up to 1:3 for all clients. It provides access to 43 cryptocurrency pairs.
Pepperstone vs FXOpen Deposit Options Comparison
Both Pepperstone and FXOpen offer various deposit and withdrawal options for their clients, including bank wire transfers, credit/debit cards, e-wallets and local payment methods. However, the availability and fees of these options may vary depending on the country and currency of the client. Here is a list of some of the most common payment methods offered by both brokers:
| Broker | Bank Wire Transfer | Credit/Debit Card | E-Wallets | Local Payment Methods |
|---|---|---|---|---|
| Pepperstone | Yes (free) | Yes (free) | PayPal, Skrill, Neteller, UnionPay (free) | BPay, POLi, Fasapay, Broker to Broker (free) |
| FXOpen | Yes (fees apply) | Yes (fees apply) | Skrill, Neteller, WebMoney, Perfect Money, Fasapay (fees apply) | Local Bank Transfers (fees apply) |
Pepperstone vs FXOpen Trading Platforms Comparison
Both Pepperstone and FXOpen offer multiple trading platforms for their clients, including the popular MetaTrader 4 and MetaTrader 5 platforms. These platforms are widely used by traders around the world for their user-friendly interface, advanced charting tools, custom indicators and automated trading features. Both brokers also provide TradingView, which is a web-based platform that allows traders to access live market data, perform technical analysis and share trading ideas with other users. However, Pepperstone also offers cTrader, which is another web-based platform that has a sleek design, fast execution and depth of market information. FXOpen also offers TickTrader, which is a proprietary platform that supports forex, stocks, commodities, indices and cryptocurrencies trading.
| Broker | MetaTrader 4 | MetaTrader 5 | TradingView | cTrader | TickTrader |
|---|---|---|---|---|---|
| Pepperstone | Yes | Yes | Yes | Yes | No |
| FXOpen | Yes | Yes | Yes | No | Yes |
Pepperstone vs FXOpen Analytical Tools Comparison
Both Pepperstone and FXOpen offer various analytical tools for their clients, such as market news, economic calendars, trading signals, webinars and educational materials. However, Pepperstone has a more comprehensive and frequent range of webinars covering charting strategies and trading tips. Pepperstone also offers some unique tools such as Capitalise.ai, which allows traders to create automated trading strategies using natural language; Smart Trader Tools, which is a suite of expert advisors and indicators for MT4 and MT5; and API trading, which enables traders to connect their own applications or systems to the broker’s servers.
| Broker | Market News | Economic Calendar | Trading Signals | Webinars | Educational Materials |
|---|---|---|---|---|---|
| Pepperstone | Yes | Yes | Yes (Autochartist) | Yes (frequent) | Yes |
| FXOpen | Yes (ForexLive) | Yes (FXStreet) | Yes (ZuluTrade) | Yes (occasional) | Yes |
Pepperstone vs FXOpen. Which forex broker is better? Which forex broker should you choose?
Based on the comparison above, you can see that Pepperstone and FXOpen have some advantages and disadvantages over each other. Here are some possible factors to consider when making your decision:
- If you value trust and regulation, you may prefer Pepperstone, as it has a higher number of tier-2 licenses and a higher trust score than FXOpen.
- If you value variety and diversity, you may prefer Pepperstone, as it offers a much larger selection of tradable symbols and instruments than FXOpen.
- If you value pricing and fees, you may prefer Pepperstone, as it offers lower spreads and commissions on most instruments than FXOpen, especially on the Razor account.
- If you value account types and flexibility, you may prefer FXOpen, as it offers more account types with different features and requirements than Pepperstone.
- If you value payment methods and convenience, you may prefer Pepperstone, as it offers more payment options with no fees than FXOpen.
- If you value trading platforms and functionality, you may prefer Pepperstone, as it offers more platforms with more features than FXOpen, such as cTrader and Capitalise.ai.
- If you value analytical tools and education, you may prefer Pepperstone, as it offers more webinars and unique tools than FXOpen, such as Smart Trader Tools and API trading.
Ultimately, the best way to decide which forex broker is better for you is to try them out yourself. You can open a demo account with both brokers and test their services and platforms before committing to a real account. You can also read reviews from other traders and experts to get more insights and opinions.
