Our Pepperstone vs Admiral Markets review found Pepperstone has 6 types of CFDs including 62 currency pairs, 3 trading platforms and 4 social trading tools. Admiral Markets offers 7 CFDs, including 50 forex pairs, 3441 stocks and 380 ETFs.
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Our full comparison covers the 10 most important trading factors, but here are five quick differences between Pepperstone and Admiral Markets:
Pepperstone and Admiral Markets use STP / ECN style execution. This type of trading execution means the brokers have no dealing desk involved in the quoting process as prices come from liquidity providers. This is different from market makers who are the counterparty to your trades.
No Commission Accounts
The table below summarises a range of brokers and their spreads for the relevant commission-free accounts. We notice Admiral Markets tend to offer the best spreads for some currency pairs however are found to fare poorly on some other currency pairs. If you are trading currency pairs with JPY, then Pepperstone appears to be an excellent choice.
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No Commission Spreads
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|---|---|---|---|---|---|
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0.80 | 1.00 | 1.50 | 1.00 | 1.00 |
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1.10 | 1.20 | 1.60 | 1.40 | 1.40 |
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1.13 | 1.01 | 1.62 | 1.12 | 1.71 |
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0.90 | 1.30 | 1.70 | 1.40 | 1.40 |
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0.70 | 2.20 | 2.20 | 0.60 | 1.10 |
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1.20 | 1.40 | 2.30 | 1.50 | 1.50 |
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1.10 | 1.20 | 1.40 | 1.30 | 1.30 |
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1.90 | 2.00 | 3.10 | 2.20 | 2.40 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 09/01/2024
Commission Accounts
The table below summarises a range of brokers and their spreads for the relevant commission accounts. You will find that Pepperstone nearly always has superior spreads than Admiral Markets and often comfortably so. The only exception appears to be for EUR/USD and USD/SGD, where both brokers have similar spreads.
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Commission Account Spreads
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|---|---|---|---|---|---|
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0.50 | 1.10 | 0.60 | 0.80 | 0.60 |
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0.20 | 0.60 | 0.40 | 1.00 | 0.60 |
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0.17 | 0.50 | 0.27 | 0.30 | 0.23 |
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0.05 | 0.36 | 0.19 | 0.23 | 0.09 |
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0.20 | 0.50 | 0.30 | 0.50 | 0.30 |
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0.20 | 0.50 | 0.40 | N/A | 0.50 |
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0.50 | 0.60 | 0.50 | 0.50 | 0.60 |
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0.50 | 0.70 | 0.60 | 0.40 | 0.20 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 09/01/2024
Verdict
If you are looking for commission-free trading, then Admiral Markets is likely to be a better choice than Pepperstone. With a commission account, traders may be better off using Pepperstone due to the more competitive spreads.
Admiral Markets ReviewVisit Admiral Markets
MetaTrader 4 And MetaTrader 5
MetaTrader trading platforms are considered the ‘gold’ standard in the trading community.
MetaTrader 4 (MT4) has been around longer than MetaTrader 5 (MT5) so has more users, is offered by more brokers and has a larger community and marketplace. These facts make MT4 a safe choice for your platform.
MT5 supersedes MT4, offering more features and the ability to choose from a larger range of CFD trading products, so is a superior product overall. While MT4 has maintained its popularity, MT5 is the future as MT4 is in the process of being phased out.
MT4 and MT5 offer a comprehensive range of tools and time-frames required to perform the critical analysis necessary for making trading decisions. Both Pepperstone and Admiral Markets provide MetaTrader for mobile trading with iOS and Android trading apps, a WebTrader option online, as well as desktop versions for PC and Mac computers.
cTrader
cTrader is another popular trading platform, equipped with direct access to interbank market depth to implement algorithmic-based forex trading systems, an interface that can be personalised with pre-set and detachable charts, as well as extensive back-testing facilities.
The cTrader platform provides enhanced modification options within the interface combined with advanced order placing options, also provided on iOS, Android, WebTrader, and desktop versions for PC and Mac.
Trading Tools
The following table summarises the trading platforms, tools, and features offered by Pepperstone and Admiral Markets for retail investor accounts.
| Trading Tools Offered by Pepperstone and Admiral Markets | Pepperstone | Admiral Markets |
|---|---|---|
| MetaTrader Signals | ✅ | ✅ |
| Pelican | ✅ (Europe only) | ❌ |
| DupliTrade | ✅ (Not in Europe) | ❌ |
| Expert Advisors/Algorithmic Trading | ✅ | ✅ |
| Myfxbook AutoTrade | ✅ (not in Europe) | ❌ |
| Advanced MetaTrader Tools | ✅ Smart Trader Tools | ✅ Supreme Edition |
| cTrader Automate | ✅ | ❌ |
| Autochartist | ✅ | ✅ |
| API Trading | ✅ Sm | ✅ |
The MetaTrader Supreme Edition through Admiral Markets, which includes analysis indicators, global opinion widgets, advanced trade management tools and more, is similar to the Smart Trader Tool offered by Pepperstone, which includes EAs, automated trading robots, market scanner, and API technology. Both brokers offer a helpful range of trading platform tools and features for all types of traders.
Social Trading
Social trading tools such as MyFxBook, Mirror Trader, MetaTrader Signals, and DupliTrade are supported by Pepperstone on their trading platforms. The social trading tools available through Admiral Markets are limited to the MetaTrader Signals. As a feature growing in popularity, social trading is a strength in the favour of Pepperstone as they support this ability more than Admiral Markets.
Note: MyFxBook is offered by Pepperstone in Australia however, traders in the UK and Europe have access to Pelican, which is an alternate social trading option.
Verdict
In addition to the enhanced level of social trading tools, MetaTrader and cTrader are available through Pepperstone, however, only MetaTrader is available through Admiral Markets.
Given the extra platform option and range of social and add-on features, Pepperstone’s platform option is superior.
Pepperstone ReviewVisit Pepperstone
*Your capital is at risk ‘75.3% of retail CFD accounts lose money’
When it comes to accounts and features, Pepperstone really shines. They offer two main types of accounts: Standard and Razor. The Razor account is particularly appealing for its lower spreads and commission-based pricing.
Admiral Markets, on the other hand, offers a range of account types, including their Admiral Prime and Admiral MT5 accounts. While diverse, the account types can be a bit confusing for traders who are new to the game.
Verdict
Pepperstone offers superior accounts and features, making it easier for both new and experienced traders to find an account that suits their needs.
Pepperstone ReviewVisit Pepperstone
*Your capital is at risk ‘75.3% of retail CFD accounts lose money’
When it comes to trading experience and ease, Pepperstone takes the cake. Their platform is incredibly user-friendly, and the execution speed is top-notch.
Admiral Markets isn’t far behind, though. They offer a robust trading environment, but their platform could be a bit intimidating for new traders.
Verdict
Pepperstone offers a superior trading experience with its user-friendly interface and faster execution speeds.
Pepperstone ReviewVisit Pepperstone
*Your capital is at risk ‘75.3% of retail CFD accounts lose money’
Admiral Markets Trust Score
Pepperstone Trust Score
Trust is a big deal in forex trading, and here, Admiral Markets has a slight edge. They’re regulated by multiple financial authorities, including the FCA and CySEC.
Pepperstone, while trustworthy, is primarily regulated by ASIC, which might not offer the same level of investor protection.
| Pepperstone | Admiral Markets | |
|---|---|---|
| Tier 1 Regulation | ASIC (Australia) FCA (UK) BaFin (Germany) CYSEC (Cyprus) |
ASIC (Australia) FCA (UK) CYSEC (Cyprus) CIRO (CANADA) |
| Tier 2 Regulation | DFSA (Dubai) | ASIC (Australia) FCA (UK) CYSEC (Cyprus) CIRO (CANADA) |
| Tier 3 Regulation | SCB (Bahamas) CMA (Kenya) |
FSA-S (Seychelles) CMA (Kenya) JSC FSCA (South Africa) |
Verdict
Admiral Markets takes the lead here with multiple financial regulations, including FCA and CySEC.
Forex CFD
Pepperstone offers leverage up to 500:1 on over 60 major, minor, cross, and exotic currency pairs for trading the forex market if you are trading with the SCB-regulated branch, or 30:1 for majors and 20:1 for minors under ASIC, FCA and CySEC regulation.
Admiral Markets provides forex traders with access to over 50 forex major, minor and exotic currency pairs. Leverage is up to 30:1 in Australia, the UK and Europe.
Cryptocurrencies CFD
The emerging market of cryptocurrencies is gaining interest from many traders and investors. The volatile nature of cryptocurrency trading has become appealing for traders wanting to take advantage of swing trading.
Admiral Markets offers a wider range of cryptocurrencies and crypto combinations (crypto vs crypto, crypto vs US/EURO) than Pepperstone, however, Pepperstone does offer the most popular currency pairs with high leverage.
Please note that if you are trading with a broker’s UK-based subsidiary, you will not be able to trade cryptocurrency. The country’s regulator (FCA) recently banned retail traders from trading cryptocurrency products.
Other CFDs
If you are looking for a greater choice of CFDs to trade with, Admiral Markets offers a greater choice of products. Not only do they offer more choices, but they offer both spots and futures. Pepperstone only offers spot options.
Pepperstone:
Admiral Markets:
Verdict
Pepperstone and Admiral Markets both offer a range of tradable CFDs with leverage, tight spreads, and low commissions. With a closer focus on forex and cryptocurrencies, Pepperstone appears to outperform Admiral Markets by offering a wider range of pairs at more flexible leverage.
Pepperstone ReviewVisit Pepperstone
*Your capital is at risk ‘75.3% of retail CFD accounts lose money’
Admiral Markets excels in educational resources, offering a plethora of webinars, articles, and tutorials.
Verdict: Based on our testing, Admiral Markets offers the best educational resources with a score of 9.5.
Pepperstone offers excellent customer service, available 24/5 via multiple channels.
Admiral Markets also offers reliable customer service but lacks the 24/5 availability that Pepperstone provides.
Verdict
Pepperstone offers superior customer service with a score of 9.2 based on our testing.
Pepperstone ReviewVisit Pepperstone
*Your capital is at risk ‘75.3% of retail CFD accounts lose money’
Pepperstone offers a variety of funding options, making it easier for traders to get started.
The following table lists the funding methods available through both Pepperstone and Admiral Markets.
| Pepperstone | Minimum Deposit | Admiral Markets | Minimum Deposit | |
|---|---|---|---|---|
| Bank transfer | ✓ | 20 International withdrawals | ✓ | 0 |
| Bitcoin | ✓ | 50 USD | ||
| BPay | ✓ (Australia Only) | |||
| iBank&BankLink | ✓ (Estonia, Lithuania, Latvia) | 10 EUR | ||
| iDEAL | ✓ (UK, Europe) | 50 EUR | ||
| Klarna | ✓ (UK, selected Europe counties) | 50 EUR ,GBP | ||
| Mastercard | ✓ | ✓ | 75 AUD, 50 USD, 50 EUR, 50 GBP | |
| Neteller | ✓ (Australia only) | ✓ | 75 AUD, 50 USD, 50 EUR, 50 GBP | |
| PayPal | ✓ (UK, Spain, Italy, France, Australia and selected other countries) | 5 (Deposit and Withdrawal) | ✓ (UK, Europe) | 50 EUR, 50 USD 50 GBP, 75 AUD, 80 SGD |
| POLi | ✓ (Australia Only) | ✓ | 75 AUD | |
| Przelewy | ✓ (Poland) | 50 PLN | ||
| SafetyPay | ✓ | 50 USD, 50 EUR | ||
| Skrill | ✓ (Australia Only) | ✓ | 75 AUD, 50 USD, 50 EUR, 80 SGD | |
| Union Pay | ✓ (Australia Only) | |||
| Visa | ✓ | ✓ | 75 AUD, 50 USD, 50 EUR, 50 GBP |
| Funding Option | Pepperstone | Admiral Markets |
|---|---|---|
| Credit Card | ✓ | ✓ |
| Bank Transfer | ✓ | ✓ |
| PayPal | ✓ | ✗ |
| Skrill | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| Bitcoin | ✗ | ✗ |
Verdict
Pepperstone offers more diverse funding options.
Pepperstone ReviewVisit Pepperstone
*Your capital is at risk ‘75.3% of retail CFD accounts lose money’
Pepperstone has a lower minimum deposit of $0 against the $100 imposed by Admiral Markets. Below, we show you the required and recommended deposit amounts by each broker:
| Minimum Deposit | Recommended Deposit | |
| Pepperstone | $0 | $200 |
| Admiral Markets | $100 | $100 |
Verdict
Pepperstone provides traders with more flexibility with their minimum deposit requirement, plus having an actual lower amount, makes them the winner in this category.
Pepperstone ReviewVisit Pepperstone
*Your capital is at risk ‘75.3% of retail CFD accounts lose money’
Pepperstone is the winner because it offers a more comprehensive trading experience, from lower spreads to superior customer service. The table below summarises the key information leading to this verdict.
| Criteria | Pepperstone | Admiral Markets |
|---|---|---|
| Lowest Spreads And Fees | ✗ | ✓ |
| Better Trading Platform | ✓ | ✗ |
| Superior Accounts And Features | ✓ | ✗ |
| Best Trading Experience And Ease | ✓ | ✗ |
| Stronger Trust And Regulation | ✗ | ✓ |
| Top Product Range And CFD Markets | ✓ | ✗ |
| Superior Educational Resources | ✗ | ✓ |
| Superior Customer Service | ✓ | ✗ |
| Better Funding Options | ✓ | ✗ |
| Lower Minimum Deposit | ✗ | ✓ |
Pepperstone is better suited for beginner traders due to its user-friendly platform and educational resources.
For experienced traders, Admiral Markets offers a more robust trading environment with advanced features.
Pepperstone has lower costs. They offer some of the lowest spreads in the industry, starting from 0.0 pips for EUR/USD. For more information on low-cost brokers, check out our list of Lowest Commission Brokers.
Pepperstone is the superior choice for MetaTrader 4 users. They offer advanced features and customisability. For more details, visit our Best MT4 Brokers.
Neither Pepperstone nor Admiral Markets offer social trading. However, both brokers do provide options for copy trading. If you’re interested in social trading, you might want to look at other best copy trading platforms.
No, neither Pepperstone nor Admiral Markets offer spread betting. For those interested in spread betting, check out the best brokers for spread betting.
In my opinion, Pepperstone is superior for Australian forex traders. They are ASIC-regulated and founded in Australia. For more information, check out the Best Forex Brokers In Australia.
For UK traders, Admiral Markets is the better choice. They are FCA-regulated and offer a robust trading environment. For more details, visit our Best Forex Brokers In UK.
Ask an Expert
Can I buy crypto in Admiral Markets?
Yes, Admiral offers 27 crypto coins to choose from, the exception is in the UK where crypto trading is not permitted for retail traders