Pepperstone vs FXCM Comparison

Pepperstone and FXCM are two leading global forex brokers with ASIC and FCA regulation offering the MetaTrader 4 forex trading platform with Pepperstone offering lower EUR/USD spread from 0.0 pips, a wider range of CFDs including cryptocurrencies and access to a wider range of funding methods than FXCM.

You can view our review of Pepperstone or FXCM page, alternatively below is the Pepperstone vs. FXCM table.

By Justin Grossbard / Updated: Tuesday, December 31st, 2019

Pepperstone vs FXCM

Broker Reviewed

PepperstoneFXCM
Our Rating
9.17
6.38
Pepperstone Review Review Of FXCM
Most Awarded Broker

Regulations and Licenses

FeaturePepperstoneFXCM
ASIC (Australia)
FCA (UK)
MAS (Singapore)
CFTC (U.S.A)
FSCA (South Africa) Pending
FINMA (Switzerland)
CYSEC (Cypus)
IIROC (Canada)
FMA (New Zealand)

Brokerage

FeaturePepperstoneFXCM
No Commission Account Spreads From (EUR/USD): 1.0 1.3
Commission Account Spreads From (EUR/USD): 0.0 0.0
Commission (per 100k traded side trip) AUD $3.50 $3.00 (Active trader only)
Minimum Deposit $200 $50 (USD/AUD) Standard / $30,000 (USD/AUD) Active trader
Volume Commission Rebates
Has Islamic Account
Yes
No Inactivity Fees
Funding Methods 16 8
No Deposit/Withdrawal Fees
(wire withdrawals only)

Markets and Instruments

FeaturePepperstoneFXCM
Forex Currency Pairs CFDs 66+ 39+
Cryptocurrency CFDs 4+ 6+
Index CFDs 2+ 13+
Share CFDs 5+
Commodities CFD 4+ 9+
Stockbroking
Retail Maximum Leverage 500:1 400:1 (Australia), 30:1 (UK/Europe)
Professional Maximum Leverage 500:1 100:1 (UK/Europe)

Trading Platforms + Tools

FeaturePepperstoneFXCM
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
Proprietary Platform
Automatic / Robot Trading
Social + Copy Trading
(via Zulu Trade)
Standard Stop Loss
Guaranteed Stop Loss Order
Guaranteed Negative Balance Protection ESMA regulated territories only
(UK/Europe), Cross (Australia)
Demo Account
Unique Feature 1 Smart Trader Tools
Unique Feature 2 Fast Execution Speed

Overall

PepperstoneFXCM
Our Rating 9.17 6.38
Pepperstone Review Review Of FXCM
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Pepperstone vs. FXCM: Forex Trading Platform Options

Our team of experts at Compare Forex Brokers reviewed the technological solution offered by Pepperstone and FXCM to find out which forex broker offers the best trading platforms. When we place side by side, both forex brokers offer a good selection of unique trading platforms that are designed to accommodate the needs of most trading styles. To breakdown which trading platform has the best features, our industry experts carefully examined each individual trading platform supported by these two names looking at characteristic such as:

  • Multiple Order TypesPepperstone and FXCM Platforms comparison
  • Advanced Charting Capabilities
  • Selection of Built-in Indicators
  • Automation
  • Execution Speed
  • Stability and Functionality

In addition to the quality of the trading platform, our experts added extra value on the popularity element. Using a popular trading platform adds the extra benefit to get the chance to interact with other fellow traders and exchange trading tips and tricks.

Range of Trading Platforms

The trading software solution offered by Pepperstone and FXCM is available through:Range of Trading platforms

  • Desktop (PC and Mac)
  • Web-based platform (WebTrader)
  • Mobile Trading (iOS and Android)

Both forex brokers offer the world’s most popular trading platform MetaTrader 4. MetaTrader 4 is the most widely adopted trading platform by FX traders all over the world. The difference between Pepperstone and FXCM consist of the trading conditions that can be found on the MetaTrader 4.

On the one hand, FXCM takes the other side of your orders, which classifies FXCM as a market maker broker. At the same time, with Pepperstone your orders are matched directly in the interbank foreign exchange market through its ECN infrastructure.

The full range of trading platforms that can be found with Pepperstone includes:

  • MetaTrader 4Pepperstone vs FXCM
  • MetaTrader 5
  • cTrader

By comparison, FXCM offers access to the forex market through three featured trading platforms including:

  • TradeStation (proprietary trading platform)
  • MetaTrader 4
  • NinjaTrader 8 (dedicated for Spread Betting)
  • ZuluTrade

The trading platforms offered by Pepperstone and FXCM are available for the desktop along with mobile applications. The slight edge offered by FXCM is the TradeStation, which is a proprietary trading platform built in-house by the FXCM experts. FXCM TradeStation customizable dashboard lets you follow all the currency pairs or instruments that matter to you.

FXCM Proprietary Trading Platform

On the other hand, Pepperstone offers the all-in-one trading platform MetaTrader 5 and the advanced trading technology that comes through the cTrader platform, which is considered by many industry experts to be the best FX and CFDs trading platform.

Social Trading Platform

FXCM’s ZuluTrade is a copy trading platform that allows forex traders the option to follow different forex trading strategies developed by professional traders all over the world. This is the ideal solution for mirror traders who want to subscribe to forex trade signals that are automatically copied on their personal trading account.

Pepperstone social trading platform took again a bigger score as you can access multiple forex trading strategies from the world’s best forex traders via 6 mirror trading tools and social trading platforms:

  • ZuluTrade
  • MetaTrader Trading Signals
  • Myfxbook
  • Mirror Trader
  • RoboX
  • DupliTrade

Pepperstone Social Copy Trading

Range of Technical Tools

The head to head comparison revealed that both forex brokers offer powerful analytical tools. Pepperstone took extra points in our star scoring system due to its superior collection of technical tools that include:

  • AutochartistAxiTrader Autochartist
  • Smart Trader Tools (28 trading Apps)
  • Risk management tools
  • Pattern recognition tools
  • Professional Trade Terminal
  • Sentiment Trader
  • Market Scanners
  • Expert Advisors
  • And many more

The most powerful technological features that every FX trader will ever need can be found through Pepperstone’s trading platforms. In contrast, while FSCM offers the MetaTrader 4 platform, unfortunately, you can’t access the trading features that come with Autochartist. However, FXCM compensates the lack of trading tools through its award-winning trading platform TradeStation.

FXCM TradeStation offers robust chart tools including:FXCM Forex Trading Platform

  • Real Volume
  • Market Depth
  • Trader Sentiment
  • Custom layouts
  • News Calendar integrated directly into the platform
  • Strategy backtesting and optimization solution

Pepperstone vs FXCM Trading Platforms Conclusion

Overall, Pepperstone offers the newest generation of forex technical and analytical tools. The advanced technical analysis software solution can help forex traders, filter new trading opportunities through the day-to-day forex market noise. While FXCM’s range of technical tools is more limited forex traders still have access to exclusive chart tools that can enhance your experience. Our team of experts considers Pepperstone as the winner in this category.

Open a demo account to explore the multiple trading platforms available through Pepperstone and FXCM. In order to start trading with a demo account, please click the button below to take full advantage of some exclusive offers that can only come through us.

Pepperstone vs. FXCM:  EUR/USD Spreads And Fees

When assessing Pepperstone vs. FXCM based on transaction costs our competitive review process discovered that Pepperstone spreads are extremely competitive and more advantageous than what FXCM has to offer. Trading with lower spreads and overall lower transaction costs is clearly an edge that can be found trading with Pepperstone.

When evaluating head to head the EUR/USD spreads offered by Pepperstone and FXCM for each individual pricing model (commission-based and spread-based models) we concluded that Pepperstone beats FXCM in each comparison model. The table below outlines the Pepperstone and FXCM head to head spreads for the EUR/USD and other major currency pairs.

Average Spreads
(19/12/2019)
Pepperstone Razor AccountFXCM Active Trader Account
EUR/USD0.130.2
GBP/USD0.440.8
USD/JPY0.160.3
AUD/USD0.140.3
USD/CAD0.260.5
EUR/GBP0.410.6

FXCM’s Active Trader account advertises itself as offering discounts on the spread costs. However, they are still unbeatable when compared to Pepperstone’s spreads. Both Pepperstone Standard and Razor accounts are offering lower spreads than the FXCM’s Active Trader account.

Additionally, the spreads on the FXCM Active Trader account is closely tight to the monthly volume you trade. This means that in order to take advantage of the spread cost discounts you need to generate more trading volume.

Pepperstone vs FXCM Spreads

For example FXCM EUR/USD average spreads on the regular account is 1.3 pips and 0.2 pips on the Active Trader account. By comparison, Pepperstone is able to offer through its Tier 1 liquidity providers EUR/USD 1.13 pips for the Standard account respectively EUR/USD 0.13 pips for the Razor account

Pepperstone vs. FXCM: Commissions Comparison

Both forex brokers offer different types of commission structures. The commission-based model offered by FXCM is based on the volume you trade and the initial deposit. FXCM Active Trader account claims to save you up to 62.4% in the total trading costs. FXCM commissions per $1 million traded are $30 or $3 per 100,000 units traded (1 standard lot) per side.

FXCM Active Trader commissions

By comparison, the Australian forex broker Pepperstone offers different levels of commissions across the three main trading platforms:

  • MT5 Razor account $3,5 per 1 standard lot
  • MT4 Razor account $3.76 per 1 standard lot
  • cTrader 7 units charged per 1 standard lot

EUR/USD Spreads and Fees: The Overall Winner

When compared side by side, it appears that FXCM has a moderate advantage over Pepperstone in terms of the commissions charged. However, our team of experts considers FXCM’s commission advantage to vanish when we take into consideration factors such as slippage and order execution speed.

FXCM doesn’t have the same level of access to liquidity compared to Pepperstone, which is able to give forex traders better quotes and faster execution. Open a free demo account and start trading the forex market with competitive quotes and low spreads.

Open a demo account >>Visit Pepperstone >>

Pepperstone vs. FXCM: CFD Range Of Markets

Our leading industry experts used our due diligence process to establish which is the best forex broker in terms of financial markets and instruments available for trading. Both forex brokers Pepperstone and FXCM offer their clients with a diversity of popular currency pairs and CFDs instruments.

The table below shows side by side the range of CFDs markets offered by Pepperstone and FXCM.

 PepperstoneFXCM
Forex Currency Pairs+61+39
Index CFDs1413
Share CFDs61NO
Commodities159
Cryptocurrencies56
Currency Index CFDs13
Metal73
Stock BasketsNO6

Forex Currency Pairs

When comparing Pepperstone and FXCM we have discovered that the Australian-based forex broker offers almost double the range of currency pairs (+61 vs. +39 currency pairs) that can be found on FXCM trading platforms. But FXCM has neutralized the lack of currency pairs by offering some unique financial instruments that can’t be found with other forex brokers.

CFDs Share Trading

While FXCM doesn’t offer CFD shares trading you can have exposure to the stock market via the FXCM Stock Baskets, which are comprised of the best-performing stocks in each sector. FXCM’s range of sector indices available on your FXCM trading account includes:CFD share Trading

  • Biotech
  • FAANG
  • CANNABIS
  • Esports and Gaming
  • China TECH
  • China E-COMMERCE

CFD currency Index TradingFXCM’s Stock Baskets is comprised of 5 individual stocks and works the same way as any other stock sector indices. Both forex brokers offer the US Dollar Index, but FXCM allows forex traders to also speculate on two additional currency indices:

  • Yen Index
  • Emerging Market Index

Cryptocurreny Range of Coins

Additionally, FXCM’s innovative range of products also includes a cryptocurrency basket (CryptoMajors) which works like a benchmark for the cryptocurrency market. Excluding the cryptocurrency index, both forex brokers offer the same range of cryptocurrencies, which includes:Pepperstone and FXCM Cryptocurrency Comparison

  • Bitcoin
  • Ethereum
  • Litecoin
  • Bitcoin Cash

The only difference between Pepperstone and FXCM is that the Australian based FX broker offers Dash, while the New York-headquartered forex broker offer Ripple as an alternative digital currency.

Our research process revealed that Pepperstone offers more advantageous trading conditions for the cryptocurrency market both in terms of leverage offered and spreads. Below you can view the head to head comparison of the two forex brokers.

 PepperstoneFXCM
Crypto Leverage5:14:1
Bitcoin Spread10.0050.00
Ethereum Spread4.01.8
Litecoin Spread3.060.0
BitcoinCash Spread0.104.1

CFD Range of Markets: The Overall Winner

FXCM would have easily won this category, however the lack of available currency pairs leaves the door open for deciding for yourself, which Contract for Differences (CFDs) is more suitable for your trading needs. If you want to consult the full range of available instruments makes sure you check both forex brokers’ websites. Additionally, review their webinars and educational materials to learn more about the full services they provide to retail forex traders.

Pepperstone vs. FXCM: Account Types

Our review process for comparing forex trading brokers examined the account types offered by Pepperstone and FXCM. We did the hard work for you so that you can start trading with both forex brokers by signing up with your preferred brokerage account.

Both forex brokers Pepperstone and FXCM offer a standard account through which retail traders can have access to a range of different CFD products. The second trading accounts offered by Pepperstone and FXCM is dedicated to active traders that like scalping or algorithmic traders who want to have access to a variety of risk management tools and backtesting facilities:

  • Razor Account offered by Pepperstone
  • Active Trader account offered by FXCM

FXCM Account Types

Below you can study the similarities and differences that come with Pepperstone Razor account and FXCM Active Trader account.

 PepperstoneFXCM
Forex Leverageup to 500:130:1
CFD Leverage20:120:1
Crypto Leverage5:14:1
Minimum Deposit$200$25,000
Commissions per 1 St lot$3.5$2.5
Scalping AllowedYESYES
Hedging AllowedYESNO

Account Types: The Overall Winner

The head to head comparison of the retail investor accounts and the commission-based accounts offered by both forex brokers revealed that trading CFDs on the Pepperstone trading accounts can be slightly more advantageous. FXCM took a lower score due to not allowing ease of access to its financial services. The minimum deposit for the FXCM Active Trader account is $25,000, which is higher even than the premium account offered by Oanda, which requires $20,000.

When it comes to accessibility to its premium account, Pepperstone has set high standards in the forex industry. No forex broker can be proud to offer ease of access to institutional grade accounts. Only IC Markets has the same low entry level for the premium accounts.

Pepperstone vs. FXCM: Customer Service

Our review process required both forex brokers to offer multiple channels of communication with their clients. The customer support service at Pepperstone and FXCM is available on a 24/5 basis. Forex traders can contact the support teams of these two respected brokers by using one of the following means of communications:

  • EmailCustomer Support comparison
  • Live chat
  • Phone
  • SMS (available only to FXCM)

FXCM has a stronger international presence with 11 offices worldwide across 4 continents, including the United States, Canada, Australia, UK, and Hong Kong.

FXCM Review

Our team of industry experts has ranked both forex brokers as offering a satisfactory and excellent experience. Your questions are always answered fast and with relevant information. One of the few advantages that come with an FXCM trading account is the quality of customer service.

When assessing the quality of your interaction with the support team of these two forex brokers we also took into consideration if Pepperstone and FXCM offer multilingual support. Our findings are as follows:

  • Pepperstone supports 12 languages (English, Spanish, Arabic, Portuguese, Russian, Chinese and Vietnamese).
  • FXCM supports +20 languages

Both forex brokers have gained industry-wide recognition through multiple awards that attest the premier brokerage service offered by Pepperstone and FXCM.

Award-winning broker

Customer Service: The Overall Winner

The head to head comparison showed both forex brokers offering industry-leading service to their clients. Most forex traders appreciate the high-standards and the commitment to provide an overall superior customer experience. Try your trading skills by opting for a demo account with your favorite forex broker and gain more experience before you risk real capital.

Open a demo account >>Visit FXCM >>

Pepperstone vs. FXCM: Deposit And Withdrawals

The head to head comparison shows that Pepperstone offers more options for account funding and withdrawals (9 payment options vs. 6 payment options). By comparison, while FXCM offers the standard methods of money transfers (debit and credit cards, bank wire transfers, and electronic wallets), FXCM provides access to 6 different types of payment methods including:

  • Credit/debit cards
  • EFT/bank wire
  • Skrill
  • Neteller
  • Klarna
  • Rapid Transfer

FXCM Funding Options

Our Pepperstone review showed that the Australian-based forex broker supports most of the range of funding options offered by FXCM and some more, including PayPal, POLi, BPay, Union Pay, and MasterCard.

Deposits and Withdrawal Fees

Both forex brokers Pepperstone and FXCM have very similar policies in terms of deposits and withdrawal fees. The only major difference is that FXCM charges a $40 withdrawal fee for bank transfers. Neither Pepperstone nor FXCM applies any deposit fees. For a complete review of Peppersone fees, please read the full fee article.

Funding and withdrawals

Credit and debit card transfers are instant with both forex companies, while the bank transfers take the standard 2-3 business days before the funds are cleared into your forex trading account.

Deposit Currency Supported

Our team of experts assessed if Pepperstone and FXCM’s trading accounts offer deposits in different foreign currencies. The ideal forex broker will offer different base currencies to accommodate the needs of forex traders from around the world.

In our FXCM review assessment, we placed a negative score because FXCM only supports the major currencies:FXCM Supported Currencies

  • USD
  • EUR
  • GBP

By comparison, Pepperstone support more than that. The Australian based forex broker stands out inside the forex industry by supporting minor currencies as well. Forex traders can make a Pepperstone deposit using the following currencies USD, EUR, GBP, JPY, AUD, CAD, CHF, HKD, SGD, and NZD.

Deposit and Withdrawals: The Overall Winner

In terms of the deposit and withdrawal methods, supported currencies, and transaction fees our team of industry experts, views Pepperstone as the overall winner in this section. The only advantage FXCM can offer is that you can start trading on the foreign exchange market with a minimum deposit for a live account of $50.

Pepperstone vs. FXCM: Overall Winner

PepperstoneWhile FXCM has a rich history serving retail and professional traders since 1999, it had a rough history and at one point received a bailout to avert bankruptcy. Listed on the New York Stock Exchange (NYSE: FXCM) and regulated in several jurisdictions, FXCM remains a dealing desk broker that is the counterparty of all your trades.

On the other hand, Pepperstone headquartered in Melbourne, Australia in the exact location site of the former Australian Stock Exchange (ASX) provides first-class trade service to customers all around the world.

Regulated in Australia by the Australian Securities and Investments Commission (ASIC) and the UK by the Financial Conduct Authority (FCA), Pepperstone can offer a trading environment that complies with the high standards imposed by the most prestigious regulatory agencies. Our team of industry experts hand-checked for accuracy, the most important features that must come with a forex broker, and we concluded that the net winner in our scoring system is Pepperstone.

The team at Compare Forex Brokers recommends trading with a demo account before trading with real money. Leverage products such as Forex currencies and CFDs trading carry a high risk level and you may lose your money.

Open a demo account >>Visit Pepperstone >>