Pepperstone vs Tickmill: Best Forex Broker In 2024

2. Better Trading Platform: Pepperstone

Pepperstone offers three trading platforms, MetaTrader 4, MetaTrader 5, and cTrader, while Tickmill traders are restricted to MetaTrader 4. Both brokers use VPS hosting for these platforms.

MetaTrader 4 (MT4)

MT4 is one of the most popular platforms worldwide, known for its algorithmic trading tools (Expert Advisors) that allow you to fully automate trading.

• Comprehensive charting tools for technical analysis.
• Automated trading features with Expert Advisors (trading robots) and social-copy trading tools.
• Single-currency backtesting of Expert Advisors.
• Risk management tools with order types.
• Access to a large forex trading community and MarketPlace.
• Fast order execution speeds.
• Available as a desktop and webtrader platform, as well as mobile apps.

Both Tickmill and Pepperstone offer the above MT4 features, yet Pepperstone goes one step further and offers an add-on package of Smart Trader Tools. The broker’s Smart Trader Tools are available on both MT4 and MT5 and provide an additional 28 Expert Advisors and technical indicators.

MetaTrader 5 (MT5)

MT5 offers many similar features to MT4 in regards to automated trading, advanced charting, and a user-friendly workstation. Yet, unlike MetaTrader 4, MT5 is a multi-asset trading platform where you can trade Share CFDs in addition to currencies, commodities, indices and cryptocurrencies. Key features of MT5 include:

• Algorithmic trading using Expert Advisors (EAs).
• Multi-currency backtesting to optimise EAs.
• Proprietary and third-party social-copy trading tools.
• An inbuilt advanced charting package.
• A larger selection of order types than MT4.
• Fundamental analysis tools, including an inbuilt economic calendar.
• MT5 platform MetaQuotes customer support.
• Quick execution speeds.
• Desktop platform, webtrader and mobile trading apps for iOS and Android devices.

Pepperstone offers MT5, while Tickmill only offers MT4.

cTrader

cTrader provides access to algorithmic trading systems, a personalised interface, and extensive back-testing facilities. The trading platform offers enhanced modification options and advanced order placement, providing you with an institutional-grade trading environment.

The software is available as trading apps for mobile and tablet devices, a webtrader platform, or a desktop trading platform. Currently, only Pepperstone offers the cTrader trading platform.

Verdict

As Pepperstone offers a greater selection of trading platform options, they win this round. As a Pepperstone client, you can choose between the world’s three most popular trading platforms – MetaTrader 4, MetaTrader 5 and cTrader, while Tickmill only provides access to one trading platform – MetaTrader 4. Additionally, Pepperstone offers an add-on package of 28 EAs and technical indicators, greatly enhancing your MT4 and MT5 trading experience.

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3. Superior Accounts And Features: Pepperstone

Pepperstone Account Types

Pepperstone offers two main account types designed for forex and CFD trading. A no-commission Standard Account and an ECN-style Razor Account. Both account types offer ultra-fast order execution and low spreads thanks to Pepperstone’s straight-through processing (STP) and no dealing desk (NDD) execution.

Both Standard and Razor Accounts are available as a live account or a risk-free demo account. Although Pepperstone recommends a minimum deposit of $200 for both account types, no initial minimum deposit is enforced by the broker.

Standard Account

With tight, commission-free spreads starting from 1.0 pip, Pepperstone’s Standard Account is ideal for beginner traders wanting a simple pricing structure. While spreads are higher than the broker’s Razor Account, you do not need to perform complex fee calculations to work out commission costs, making it a great option if you are new to trading forex and CFDs.

Razor Account

The Razor Account is the broker’s ECN-like account type, designed for experienced traders, scalpers, day traders and automated trading strategies. As Razor spreads are as low as 0.0 pips for major currency pairs (i.e. EUR/USD), you pay a competitive commission fee of $3.50 per side per 100k traded. Due to the account type low fees, and overall trading costs, the Razor Account is the most popular choice at Pepperstone.

Tickmill Account Types

Tickmill offers you the choice of three account types: The Pro Account, Classic Account, and VIP Account. These accounts are accessible as demo accounts, but the VIP trading conditions are only available via a live trading account.

• Pro Account: The Pro Account is the most popular account type from Tickmill. With low commission fees of $2.00 per side and spreads starting from 0.0 pips, the broker’s Pro Account is similar to an ECN trading account. To open a Pro account and start trading, Tickmill requires a low minimum deposit of $100.
• Classic Account: The Classic Account is the broker’s commission-free account type, therefore, spreads are wider than Tickmill’s Pro Account. No-commission spreads start from 1.6 pips.
• VIP Account: A $50,000 trading account balance is required to qualify for a VIP Account type. Ideal for high-volume and experienced traders, the VIP account provides access to minimum spreads of 0.0 pips, with ultra-competitive commission fees of $1.00 per side per 100,000 traded.

All accounts have swap-free Islamic account options

Pepperstone And Tickmill Professional Client / Account (For UK And Europe Traders Only)

If you are with either Pepperstone UK or Tickmill UK, which have FCA or BaFIN regulations, and you meet two of the following criteria, then you can qualify for a professional account. With this account, clients can access a higher leverage of 1:500. Tickmill clients will be able to maintain negative balance protection, but professional Pepperstone clients will no longer have this.

1. You have made an average of 10 trades per quarter of significant size for each of the previous 4 quarters
2. The size of the portfolio you manage exceeds €500,000
3. You have worked as a professional in the finance sector for at least one year

Verdict

Both online brokers offer no-commission and ECN-like account types with competitive spreads and trading costs. Yet, Pepperstone’s Razor and Standard Accounts offer lower average spreads on a wider range of currency pairs than Tickmill. For instance, Pepperstone’s Standard Account provides minimum spreads of 1.6 pips commission-free, while Pepperstone offers 1.0 pips with no commission fees.

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4. Best Trading Experience And Ease: Pepperstone

When it comes to the trading experience, both Pepperstone and Tickmill have their strengths. From our in-depth analysis and our own testing, we’ve noticed that Pepperstone shines in several areas. They’ve been recognised as the best MT4 broker, which speaks volumes about their platform’s usability and features.

Additionally, for those who are into automation, Pepperstone, along with Eightcap, offers integration with Capitalise.ai, providing traders with advanced automated trading options.

• Pepperstone is recognised as the best MT4 broker.
• Tickmill, while not highlighted in our sheet, has received positive feedback from many traders for its user-friendly interface.
• Pepperstone offers advanced automated trading options with Capitalise.ai integration.
• Both brokers provide a seamless trading experience, but nuances in platform features can make a difference for seasoned traders.

Verdict: Based on our analysis and testing, Pepperstone slightly edges out Tickmill, offering the best overall trading experience.

5. Stronger Trust And Regulation: Tie

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Pepperstone operates different subsidiaries around the world:

• Pepperstone Australia – Australian Securities and Investments Commission (ASIC) AFSL 414530
• Pepperstone UK – Financial Conduct Authority (FCA) Licence No. 684312
• Pepperstone Europe – The Cyprus Securities and Exchange Commission (CySEC) and Germany (BaFin)
• Pepperstone UAE – Dubai Financial Services Authority (DFSA) DIFC Registration No. 3460
• Pepperstone UAE – The Dubai Financial Services Authority (DFSA)
• Pepperstone Kenya – The Capital Markets Authority (CMA)
• Pepperstone Global – The Seychelles Financial Services Authority (FSA)

Given the high level of regulation, the forex community considers Pepperstone a safe and trusted CFD broker.

Tickmill Global Regulation

Tickmill operates in five different locations around the globe:

• Tickmill UK – Financial Conduct Authority (FCA) Licence No. 717270
• Tickmill Global – The Seychelles Financial Services Authority (FSA) Licence No. SD008
• Tickmill Europe – Cyprus Securities and Exchange Commission (CySEC) Licence No. 278/15
• Tickmill Asia – Malaysia, Labuan Financial Services Authority (LFSA) Licence No. MB/18/0028
• Tickmill South Africa – Financial Sector Conduct Authority (FSCA) Licence No. FSP 49464

Verdict

Pepperstone and Tickmill are both regulated in several countries and are safe to trade with. Pepperstone has higher tier regulation, but either broker would be a safe and suitable choice.

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6. Top Product Range And CFD Markets: Pepperstone

Pepperstone offers a range of tradeable instruments from various asset classes. As well as forex, you can trade a diverse collection of CFDs derived from indices, commodities, cryptocurrencies and shares. As MT4 and cTrader are forex trading platforms and MT5 is a multi-asset platform, share trading is only available on MT5.

Forex is the most popular financial market to trade as CFDs due to the volatile price movements and 24/5 availability. When trading forex with Pepperstone, you have over 60 different currency pairs that you can use to develop trading strategies. Spreads on major forex pairs such as the EUR/USD can be as low as 0.0 pips through the brokers’ Razor Account, with minor and exotic currency pairs also offering tight spreads.

As well as 60+ currency pairs, you can trade the following CFD financial instruments as a Pepperstone trader:

• Indices: Pepperstone offers 14 global indices as CFDs to trade.
• Commodities: Energies, precious metals and soft commodities are available.
• Cryptocurrencies: You can trade 6 major cryptos – Bitcoin, Ripple, Ethereum, Litecoin, Dash and Bitcoin Cash*.
• Shares: 60 different major US shares, such as Apple, Facebook, Boeing and Tesla.

*Note: Under new FCA guidelines, UK retail traders are no longer permitted to trade cryptocurrencies.

Tickmill Financial Products

Over 60 forex currency pairs are available through Tickmill, including all the popular major, minor, and exotic pairs. You can trade currency pairs that include the USD, EUR, and GBP from spreads of 0.0 pips and a trade execution speed of 0.20 seconds.

Tickmill also offers an extensive range of tradeable instruments in addition to forex, including stock indices, oil, precious metals, and bonds. Unfortunately, Tickmill does not currently provide access to cryptocurrencies.

• Stock Indices: 14 major global stock indices i.e. UK100, US500, AUS200 and JP225.
• Oil: Crude Oil, Brent Crude Oil and WTI Crude Oil.
• Precious Metals: Gold and Silver against the US Dollar.
• Bonds: German Government Bonds – Euro Bobl, Bund, Buxl and Schatz.

Verdict

Pepperstone has a more diverse range of CFDs to trade than Tickmill and, therefore, has a better selection of complex instruments. A major benefit Pepperstone offers compared to Tickmill is the selection of Cryptos available.

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7. Superior Educational Resources: Pepperstone

Pepperstone:

• Offers a comprehensive range of educational materials.
• Provides webinars, seminars, and video tutorials.
• Features a dedicated learning hub for beginners and experienced traders.
• Articles and insights from market experts are regularly updated.
• Offers a demo account for hands-on practice.
• User-friendly platform with easy-to-understand educational content.

Tickmill:

• Provides a variety of educational resources tailored for traders.
• Webinars and workshops are frequently conducted.
• Features in-depth articles and market analysis.
• Offers trading tools and calculators for better decision-making.
• A demo account is available for practice.
• The platform is equipped with advanced educational tools.

Verdict: Based on our team’s testing, Pepperstone scores higher in educational resources, making it the superior choice for traders seeking comprehensive learning materials.

8. Superior Customer Service: Pepperstone

Pepperstone provides customer support 24 hours a day, 5 days a week via phone, live chat, and email.

The broker has a global presence throughout the world, with a head office in Melbourne and other offices in Shanghai, Dallas, Bangkok, and London. With years of experience in the financial services industry, Pepperstone holds many awards for benchmark customer service and support.

Tickmill phone support operates between 7:00 and 16:00 GMT, Monday to Friday. Contact methods such as email and live chat are available, and respond within 24 hours on business days. One good thing about the live chat accounts is the range of languages available.  While you can choose from 18 different languages, these languages include European and Asian languages, not all languages are available at all times. English, for example, appears to be only available during UK business hours.

Resources And FAQ

Both Pepperstone and Tickmill have a wide variety of educational and research resources to help you improve your knowledge and skills. These resources include webinars, seminars, eBooks, video tutorials, advanced analytics, economic calendars, news, glossaries, FAQs and live updates.

Verdict

While both provide phone, email, live chat, and an array of useful resources, Pepperstone is slightly more reliable for contact and has received many awards for its high-quality customer service.

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9. Better Funding Options: Tie

Pepperstone provides a comprehensive range of options for deposits and withdrawals. The broker also charges no transaction fees and no account inactivity fees.

• Visa and MasterCard (debit or credit card)
• PayPal
• FasaPay
• Union Pay
• Skrill
• POLi & BPay
• Wire Transfer

Tickmill also provides several options to deposit into or withdraw from your account. Tickmill covers any transaction fees up to $100, and the broker charges zero fees for any minimum deposit made by bank transfer over $5,000. In certain circumstances, Tickmill will charge an account inactivity fee.

• Bank Transfer
• Visa and MasterCard (debit or credit card)
• Skrill
• Neteller
• DotPay
• PaySafeCard
• Sofort
• Rapid Transfer
• PayPal

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10. Lower Minimum Deposit: Pepperstone

• Pepperstone: Pepperstone recommends making an initial deposit of $200, but no specific minimum deposit is enforced. There are no minimum withdrawal amounts.
• Tickmill: Pro and classic accounts require a minimum deposit of $100. To qualify for a VIP account, a trading account balance of $50,000 is required. While you are charged no deposit and withdrawal fees, you must withdraw at least $25 at a time.

Verdict

As Pepperstone requires no specific initial minimum deposit and charges no funding fees, the broker is the clear winner when it comes to funding your trading account.

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Our Final Verdict On Which Broker Is The Best: Tickmill or Pepperstone?

Pepperstone is the winner because of its comprehensive educational resources, superior trading experience, and robust platform features. The table below summarises the key information leading to this verdict:

Best For Beginner Traders

Pepperstone is the ideal choice for beginner traders due to its user-friendly platform and extensive educational resources.

Best For Experienced Traders

Pepperstone stands out for experienced traders because of its advanced trading tools and competitive spreads.