Compare Pepperstone vs IronFX
What is Pepperstone? What is IronFX?
Pepperstone is an online forex and CFD broker that was founded in 2010 and is regulated by ASIC, FCA and DFSA. It offers over 2300 tradeable instruments, including 62 forex pairs, indices, commodities, cryptocurrencies and shares. Pepperstone provides access to various trading platforms, such as MetaTrader 4, MetaTrader 5, cTrader and WebTrader. Pepperstone also offers social trading and copy trading features through ZuluTrade and Myfxbook.
IronFX is an online forex and CFD broker that was founded in 2010 and is regulated by FCA, CySEC and BMA. It offers over 300 tradeable instruments, including 83 forex pairs, indices, commodities, cryptocurrencies and futures. IronFX provides access to various trading platforms, such as MetaTrader 4, MetaTrader 5, WebTrader and PMAM. IronFX also offers social trading and copy trading features through Sirix Social WebTrader.
Pepperstone vs IronFX Regulation Comparison
Both Pepperstone and IronFX are regulated by reputable authorities in the UK (FCA) and Cyprus (CySEC), which means they have to comply with strict rules regarding client funds protection, financial reporting and fair trading practices. However, Pepperstone has an additional license from the DFSA in the UAE, which gives it more credibility in the Middle East region. IronFX has a license from the BMA in Bermuda, which is considered a low-trust jurisdiction.
| Broker | Tier-1 Licenses | Tier-2 Licenses | Tier-3 Licenses | Trust Score |
|---|---|---|---|---|
| Pepperstone | 2 (ASIC, FCA) | 2 (CySEC, DFSA) | 1 (SCB) | 93 |
| IronFX | 2 (FCA, CySEC) | 1 (None) | 1 (BMA) | 84 |
Pepperstone vs IronFX Trading Assets Comparison
Pepperstone offers a much wider range of trading assets than IronFX, with over 2300 instruments compared to over 300 instruments. Pepperstone has more forex pairs, indices, commodities and shares than IronFX. Both brokers offer cryptocurrency CFDs, but Pepperstone has more options with 10 cryptos versus 5 cryptos at IronFX.
| Broker | Forex Pairs | Indices | Commodities | Shares | Cryptocurrencies |
|---|---|---|---|---|---|
| Pepperstone | 62 | 23 | 64 | Over 2000 | 10 |
| IronFX | 83 | 17 | 19 | Over 200 | 5 |
Pepperstone vs IronFX Trading Fees Comparison
Pepperstone and IronFX have different fee structures depending on the account type and the trading platform. Pepperstone offers two types of accounts: Standard and Razor. The Standard account has no commission but higher spreads, while the Razor account has lower spreads but charges a commission of $3.5 per lot per side for MT4/MT5 or $3 per lot per side for cTrader. The average spread for EUR/USD on the Standard account is 1.16 pips and on the Razor account is 0.09 pips.
IronFX offers four types of accounts: Micro, Premium, VIP and Zero Fixed Spread. The Micro account has no commission but higher spreads, while the other three accounts charge a commission of $18 per lot round turn for MT4/MT5 or $15 per lot round turn for PMAM. The average spread for EUR/USD on the Micro account is 1.8 pips and on the other accounts is 0 pips.
Both brokers charge swap fees for holding positions overnight and may charge inactivity fees if the account is dormant for a certain period of time.
| Broker | Account Type | Commission (per lot) | Average Spread (EUR/USD) |
|---|---|---|---|
| Pepperstone | Standard (MT4/MT5/cTrader) | None | 1.16 pips |
| Pepperstone | Razor (MT4/MT5) | $3.5 per side ($7 round turn) | 0.09 pips |
| Pepperstone | Razor (cTrader) | $3 per side ($6 round turn) | 0.09 pips |
| IronFX | Micro (MT4/MT5/PMAM) | None | 1.8 pips |
| IronFX | Premium/VIP/Zero Fixed Spread (MT4/MT5) | $9 per side ($18 round turn) | 0 pips |
| IronFX | Premium/VIP/Zero Fixed Spread (PMAM) | $7.5 per side ($15 round turn) | 0 pips |
Pepperstone vs IronFX Account Types Comparison
Pepperstone and IronFX have different account types that cater to different trading styles and preferences. Pepperstone’s Standard account is suitable for beginners and casual traders who want a simple and transparent fee structure. Pepperstone’s Razor account is suitable for advanced and professional traders who want to trade with low spreads and pay a commission. Pepperstone also offers an Islamic account that complies with Sharia law and does not charge swap fees.
IronFX’s Micro account is suitable for beginners and small traders who want to trade with a low minimum deposit of $100. IronFX’s Premium account is suitable for experienced and medium traders who want to trade with a higher leverage of up to 1:1000 and a lower commission. IronFX’s VIP account is suitable for high-volume and professional traders who want to trade with a lower minimum deposit of $20,000 and a lower commission. IronFX’s Zero Fixed Spread account is suitable for scalpers and algorithmic traders who want to trade with zero spreads and a fixed commission. IronFX also offers an Islamic account that complies with Sharia law and does not charge swap fees.
| Broker | Account Type | Minimum Deposit | Maximum Leverage | Swap-Free Option |
|---|---|---|---|---|
| Pepperstone | Standard | $200 | 1:500 | Yes |
| Pepperstone | Razor | $200 | 1:500 | Yes |
| Pepperstone | Islamic | $200 | 1:500 | Yes |
| IronFX | Micro | $100 | 1:500 | Yes |
| IronFX | Premium | $2,500 | 1:1000 | Yes |
| IronFX | VIP | $20,000 | 1:1000 | Yes |
| IronFX | Zero Fixed Spread | $500 | 1:500 | Yes |
| IronFX | Islamic | $100-$20,000 depending on account type | 1:500-1:1000 depending on account type |
Pepperstone vs IronFX Deposit Options Comparison
Both Pepperstone and IronFX offer a variety of deposit and withdrawal options, including bank wire transfer, credit/debit card, e-wallets and local payment methods. However, Pepperstone has more options than IronFX, especially for e-wallets such as Skrill, Neteller, PayPal, UnionPay and BPay. Both brokers do not charge any fees for deposits or withdrawals, but third-party fees may apply depending on the payment method.
| Broker | Deposit Options | Withdrawal Options |
|---|---|---|
| Pepperstone | Bank wire transfer, credit/debit card (Visa, Mastercard), Skrill, Neteller, PayPal, UnionPay, BPay, POLi, Fasapay, Broker to Broker Transfer, Trustly, Klarna, Rapid Transfer. Local payment methods available for some countries. Minimum deposit is $200 or equivalent. No deposit fees. Processing time is instant for most methods except bank wire transfer (2-5 business days). Withdrawal requests are processed within 24 hours. No withdrawal fees. Minimum withdrawal is $50 or equivalent. Maximum withdrawal is $20,000 or equivalent per transaction. Third-party fees may apply depending on the payment method. Withdrawals can only be made to the same source of funds as the deposit. | |
| IronFX | Bank wire transfer, credit/debit card (Visa, Mastercard), Skrill, Neteller, Dotpay, Safecharge, MIR Limited UK Ltd., Wirecard Card Solutions Ltd., Paydoo Payments UAB., Ecommpay Limited., Emerchantpay Limited., Trustly Group AB., Payolution GmbH., Paysafe Financial Services Limited., Payvision B.V., PayRetailers LTD., Apco Systems Ltd., Zotapay Limited., AstroPay LLP., Jeton Venture Limited., Sticpay Co., Ltd… Local payment methods available for some countries. Minimum deposit is $100 or equivalent for Micro account or $2,500 or equivalent for other accounts. No deposit fees. Processing time is instant for most methods except bank wire transfer (3-5 business days). Withdrawal requests are processed within 24 hours. No withdrawal fees. Minimum withdrawal is $50 or equivalent. Maximum withdrawal is not specified. Third-party fees may apply depending on the payment method. Withdrawals can only be made to the same source of funds as the deposit. |
Pepperstone vs IronFX Trading Platforms Comparison
Both Pepperstone and IronFX offer access to the popular MetaTrader 4 and MetaTrader 5 trading platforms, which are widely used by forex and CFD traders around the world. These platforms offer advanced charting, technical analysis, automated trading, custom indicators and expert advisors. Both brokers also provide WebTrader versions of these platforms that can be accessed from any browser without downloading any software.
However, Pepperstone has an edge over IronFX in terms of trading platforms, as it also offers the cTrader platform, which is a modern and user-friendly platform that supports fast execution, level II pricing, advanced order types, detachable charts and cloud-based trading. Pepperstone’s cTrader platform also has a web version and a mobile app for iOS and Android devices.
| Broker | Trading Platforms |
|---|---|
| Pepperstone | MetaTrader 4, MetaTrader 5, cTrader, WebTrader |
| IronFX | MetaTrader 4, MetaTrader 5, WebTrader, PMAM |
Pepperstone vs IronFX Analytical Tools Comparison
Both Pepperstone and IronFX offer various analytical tools to help traders with market analysis, trading signals, automated trading and social trading. However, Pepperstone has more options and features than IronFX in terms of analytical tools, especially for the MetaTrader platforms.
MetaTrader Tools
Pepperstone provides access to 28 tools, indicators and expert advisors for the MetaTrader 4 and MetaTrader 5 platforms through its Smart Trader Tools package. These tools include trade terminal, mini terminal, sentiment trader, correlation matrix, alarm manager, market manager, session map, excel RTD and more. These tools help traders to manage their trades, monitor the market sentiment, analyse the correlations, set alerts, access real-time data and enhance their trading strategies.
IronFX does not offer any additional tools or indicators for the MetaTrader 4 and MetaTrader 5 platforms, apart from the ones that are already built-in. However, IronFX does offer access to the PMAM platform, which is a multi-account management system that allows traders to manage multiple accounts from a single interface.
Autochartist
Both Pepperstone and IronFX offer access to Autochartist, which is a powerful market scanner that identifies trading opportunities based on key support and resistance levels, chart patterns and Fibonacci patterns. Autochartist also provides volatility analysis, performance statistics, market reports and trading alerts. Autochartist is available as a web application, a plugin for the MetaTrader platforms or a mobile app for iOS and Android devices.
Social Trading
Both Pepperstone and IronFX offer social trading and copy trading features that allow traders to follow and copy the trades of other successful traders. However, Pepperstone has more options and partners than IronFX in terms of social trading platforms.
Pepperstone offers access to four social trading platforms: Myfxbook AutoTrade, MetaTrader Signals, DupliTrade and ZuluTrade. These platforms have different features and advantages, such as:
- Myfxbook AutoTrade: A social forex community that provides automated analytical tools and allows traders to copy trades from selected systems for free.
- MetaTrader Signals: A service integrated within the MetaTrader platforms that enables traders to automatically copy trading operations in real time.
- DupliTrade: An advanced auto-execution mirroring system that enables traders to automate their trading on forex, indices and commodities by duplicating the trades of carefully selected traders.
- ZuluTrade: A leading social trading network that connects traders with thousands of signal providers from around the world.
IronFX offers access to two social trading platforms: Sirix Social WebTrader and MetaTrader Signals. These platforms have similar features as Pepperstone’s platforms, such as:
- Sirix Social WebTrader: A web-based platform that allows traders to follow and copy the trades of other traders within the IronFX community.
- MetaTrader Signals: A service integrated within the MetaTrader platforms that enables traders to automatically copy trading operations in real time.
| Broker | MetaTrader Tools | Autochartist | Social Trading Platforms |
|---|---|---|---|
| Pepperstone | Smart Trader Tools (28 tools) | Yes | Myfxbook AutoTrade, MetaTrader Signals, DupliTrade, ZuluTrade |
| IronFX | None | Yes | Sirix Social WebTrader, MetaTrader Signals |
Pepperstone vs IronFX. Which forex broker is better? Which forex broker should you choose?
Based on the comparison I made, I can give you some general suggestions and tips to help you make an informed decision.
- If you are looking for a broker with more regulation, more trading assets, more trading platforms, more trading instruments and more social trading options then Pepperstone could be your choice.
- If you are looking for a broker with lower minimum deposit, higher leverage, zero spread account and PMAM platform, then IronFX might be a better choice for you.
You should also consider other factors such as customer service, execution speed, slippage, requotes, swap rates, margin requirements and trading conditions before choosing a broker to choose from. Choose the most suitable broker.
