Compare Pepperstone vs SimpleFX
What is Pepperstone? What is SimpleFX?
Pepperstone is an Australian forex broker that also offers CFDs on cryptocurrencies, indices, commodities and shares. It was founded in 2010 and is regulated in 7 jurisdictions globally. It has won several awards for its trading platforms, tools and customer support.
SimpleFX is a free trading and investing app that allows users to buy and sell cryptocurrencies and other assets from anywhere. It was launched in 2014 and supports over 60 crypto payment methods. It also offers a lucrative affiliate program and stake & trade accounts.
Pepperstone vs SimpleFX Regulation Comparison
| Platform | Regulators |
|---|---|
| Pepperstone | ASIC (Australia), FCA (UK), DFSA (Dubai), SCB (Bahamas), CMA (Kenya), CySEC (Cyprus), BaFin (Germany) |
| SimpleFX | Not regulated |
Pepperstone vs SimpleFX Trading Assets Comparison
Pepperstone offers a wide selection of assets for trading, including currencies, indices, commodities, bonds, ETFs, shares, cryptocurrencies, and spread betting (only for UK clients). Pepperstone has over 1000 instruments available on its platforms. SimpleFX offers a limited range of assets for trading, mainly focusing on cryptocurrencies and forex. SimpleFX has around 60 instruments available on its platforms.
Pepperstone vs SimpleFX Trading Fees Comparison
| Platform | Fees |
|---|---|
| Pepperstone | Spreads from 0.0 pips on forex pairs with Razor account; commission of $3.76 per lot per side on forex and metals with Razor account; no commission on Standard account but higher spreads; swap fees for holding positions overnight; inactivity fee of $25 per month after 3 months of no trading activity |
| SimpleFX | No fees or commissions; spreads vary depending on the asset and market conditions; swap fees for holding positions overnight |
Pepperstone vs SimpleFX Account Types Comparison
| Platform | Account Types |
|---|---|
| Pepperstone | Standard account: no commission but higher spreads; Razor account: low spreads but commission charged; Islamic account: swap-free account for Muslim traders; Demo account: practice trading with virtual funds |
| SimpleFX | Live account: trade with real money; Demo account: practice trading with virtual funds; Stake & Trade account: earn interest on your crypto deposits while trading |
Pepperstone vs SimpleFX Deposit Options Comparison
Pepperstone offers various payment methods for depositing and withdrawing funds, including credit/debit cards, PayPal, UnionPay, wire transfer, Skrill, Neteller, FasaPay, BPay, POLi, NAB Broker to Broker Transfer (Australia only), Rapid Transfer (Europe only), Trustly (Europe only), Klarna (Europe only), ecoPayz (Europe only), CashtoCode (Europe only), iDeal (Netherlands only), Giropay (Germany only), Przelewy24 (Poland only), EFT PayID/Osko (Australia only), Bank Transfer via Astropay Card (Latin America only), Broker to Broker Transfer (Global). Pepperstone does not charge any fees for deposits or withdrawals.
SimpleFX offers limited payment methods for depositing and withdrawing funds, mainly focusing on cryptocurrencies. The available methods are Skrill, Neteller, FasaPay, Crypto Cash Wallets (Bitcoin, Litecoin, Dash, Ethereum, Monero etc.), Tether Wallets (USDT ERC20/OMNI/TRC20), USD Coin Wallets (USDC ERC20/TRC20), Dai Wallets (DAI ERC20/TRC20), EOS.IO Wallets , Binance Coin Wallets (BNB ERC20/BEP2/BEP20), Ripple Wallets (XRP/XLM). SimpleFX does not charge any fees for deposits or withdrawals, but network fees may apply.
Pepperstone vs SimpleFX Trading Platforms Comparison
| Platform | Trading Platforms |
|---|---|
| Pepperstone | TradingView: access advanced charting tools and interact with over 30 million traders; MetaTrader 5: the more powerful release of MetaTrader with advanced customisation; MetaTrader 4: the popular trading platform with customisable indicators and EAs; cTrader: an intuitive and easy-to-use platform with advanced order capabilities and customisation |
| SimpleFX | WebTrader: a web-based platform that works on any device and browser; iOS/Android app: a native app for mobile trading |
Pepperstone vs SimpleFX Analytical Tools Comparison
| Platform | Analytical Tools |
|---|---|
| Pepperstone | Autochartist: a tool that scans the markets for high probability trades; Smart Trader Tools: a suite of 28 indicators and EAs for MT4/MT5; Market News & Analysis: professional market analysis, insights and education from experts |
| SimpleFX | Trading Ideas: a feature that allows users to share their trading ideas with others and earn revenue share; Shoutbox: a chat room where users can communicate with other traders |
Pepperstone vs SimpleFX. Which forex broker is better? Which forex broker should you choose?
- Regulation: Pepperstone is regulated in 7 jurisdictions, while SimpleFX is not regulated. This means that Pepperstone has to comply with strict rules and standards to protect its clients’ funds and interests, while SimpleFX does not have the same level of oversight and accountability. If you value security and trust, you may prefer Pepperstone over SimpleFX.
- Fees: Pepperstone charges spreads and commissions depending on the account type, while SimpleFX does not charge any fees or commissions. However, this does not mean that SimpleFX is cheaper than Pepperstone, as the spreads may vary depending on the market conditions and the asset you are trading. You should compare the actual spreads and costs of trading on both platforms before making a decision.
- Assets: Both platforms offer a wide range of forex pairs to trade, as well as other assets such as cryptocurrencies, indices, commodities and shares. However, the number and variety of assets may differ slightly between the two platforms. For example, Pepperstone offers more forex pairs (over 70) than SimpleFX (over 60), while SimpleFX offers more cryptocurrencies (over 60) than Pepperstone (over 20). You should check the availability and liquidity of the assets you are interested in on both platforms before choosing one.
- Platforms: Both platforms offer access to popular and reliable trading platforms such as TradingView, MetaTrader 4/5 and cTrader. However, the features and functionality of these platforms may differ slightly between the two brokers. For example, Pepperstone offers additional tools such as Autochartist and Smart Trader Tools for MT4/5 users, while SimpleFX offers a stake & trade feature for crypto users. You should test the platforms on both brokers using their demo accounts and see which one suits your trading style and needs better.
