When it comes to forex trading, choosing the right broker is essential for your success. Among the many brokers available, FXPro and Pepperstone stand out as two of the most well-known names in the industry. If you’re trying to decide between these two brokers, this guide will help you understand how they compare in key areas like fees, trading platforms, regulation, and customer service.
Before we jump into our full review, let’s take a quick look at the table below which provides a clear side-by-side comparison of the key features of both FXPro and Pepperstone to help you quickly see the differences.
| Feature | FXPro | Pepperstone |
|---|---|---|
| Regulation | FCA (UK), CySEC, FSCA, SCB | FCA (UK), ASIC (Australia), DFSA |
| Trading Platforms | MT4, MT5, cTrader, FXPro Edge | MT4, MT5, cTrader, TradingView |
| Spreads | From 1.2 pips (Standard) | From 1 pip (Standard), 0.0 pips (Razor) |
| Commissions | $4.50 per lot (Commission accounts) | $3.50 per lot (Razor accounts) |
| Leverage | Up to 1:200 (Pro clients), 1:30 (Retail) | Up to 1:500 (Pro clients), 1:30 (Retail) |
| Number of Instruments | 250+ (Forex, indices, shares, etc.) | 1,200+ (Including cryptocurrencies) |
| Cryptocurrency Trading | No | Yes |
| Customer Support | 24/5 via live chat, phone, email | 24/5 via live chat, phone, email |
| Minimum Deposit | $100 | No minimum deposit |
Let’s dive into the FXPro vs Pepperstone comparison and figure out which one might suit your trading needs better.
Regulation and Safety
Safety is a top priority for any trader, and choosing a broker regulated by trusted authorities is crucial. Both FXPro and Pepperstone are well-regulated, giving traders peace of mind about the safety of their funds.
- FXPro: FXPro is regulated by several top-tier authorities, including the UK’s Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), and the Financial Sector Conduct Authority (FSCA) of South Africa. This multi-jurisdictional regulation makes FXPro a trusted and reliable broker globally.
- Pepperstone: Similarly, Pepperstone is regulated by top-tier authorities, such as the FCA in the UK, the Australian Securities and Investments Commission (ASIC), and the Dubai Financial Services Authority (DFSA). Like FXPro, Pepperstone ensures a high level of security for traders.
Verdict: In terms of regulation and safety, both brokers are well-regulated by trusted authorities, meaning you can safely trade with either FXPro or Pepperstone.
Trading Platforms
The trading platform you use can significantly impact your trading experience. Both brokers offer a range of platforms that cater to different trading styles and preferences.
- FXPro: FXPro provides a variety of platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and FXPro Edge (a proprietary platform). These platforms are suitable for both beginners and experienced traders. MT4 and MT5 are popular for their advanced charting tools, while cTrader is known for its user-friendly interface and fast execution speeds.
- Pepperstone: Pepperstone also offers MT4, MT5, and cTrader, making it a great option for traders who prefer these industry-standard platforms. Additionally, Pepperstone provides access to TradingView, a powerful charting and social trading platform, allowing traders to follow and copy strategies from others.
Verdict: Both brokers offer similar platforms, but Pepperstone’s integration with TradingView might appeal more to those who enjoy advanced charting tools and social trading features.
Fees and Spreads
Fees can eat into your profits, so it’s important to choose a broker with competitive spreads and low commissions.
- FXPro: FXPro operates a hybrid pricing model, offering both commission-free and commission-based accounts. The spreads on commission-free accounts start from around 1.2 pips, while commission-based accounts have tighter spreads but charge a commission of $4.50 per lot per trade.
- Pepperstone: Pepperstone is known for its tight spreads and low commissions. For the commission-free Standard account, spreads start from 1 pip. For Razor accounts, which charge a commission of $3.50 per lot, spreads can go as low as 0.0 pips. This makes Pepperstone a cost-effective choice for traders looking for low spreads and reasonable commissions.
Verdict: Pepperstone edges out FXPro in terms of spreads and commissions, particularly for traders who prioritize low-cost trading.
Leverage
Leverage allows traders to control a large position with a small amount of capital, but higher leverage also increases risk.
- FXPro: FXPro offers leverage of up to 1:200 for professional clients and 1:30 for retail clients, in compliance with European regulations.
- Pepperstone: Pepperstone offers slightly higher leverage than FXPro. Professional clients can access leverage of up to 1:500, while retail clients can trade with leverage of up to 1:30, depending on the region and regulatory body.
Verdict: Pepperstone provides higher leverage for professional clients, which may be more appealing for experienced traders.
Customer Support
Good customer service can make your trading experience smoother, especially when you need help with your account or have technical issues.
- FXPro: FXPro offers 24/5 customer support through live chat, email, and phone. They are known for their prompt and professional service, helping traders resolve issues quickly.
- Pepperstone: Pepperstone also provides 24/5 customer support through live chat, phone, and email. Pepperstone’s support team is known for being responsive and helpful, often resolving issues efficiently.
Verdict: Both brokers offer excellent customer support, so you won’t go wrong with either option here.
Trading Instruments
A broker’s range of available trading instruments can determine how diverse your portfolio can be.
- FXPro: FXPro offers access to over 250 financial instruments, including forex, shares, indices, futures, and commodities. This broad range of assets gives traders many opportunities to diversify their portfolios.
- Pepperstone: Pepperstone offers over 1,200 financial instruments, including forex, shares, commodities, cryptocurrencies, and indices. The inclusion of cryptocurrencies is particularly attractive to traders who want exposure to digital assets.
Verdict: Pepperstone wins here with a more extensive range of tradable instruments, especially for those interested in cryptocurrencies.
Bottom Line
When comparing FXPro and Pepperstone, it’s clear that both brokers offer excellent trading services with robust regulation, powerful trading platforms, and great customer support. However, they do differ in certain areas:
- Pepperstone is ideal for traders who want tight spreads, low commissions, higher leverage for professionals, and access to a wider range of assets, including cryptocurrencies.
- FXPro may be more suitable for traders who prefer slightly more established brokers with a broad selection of platforms and a hybrid pricing model.
In the end, your choice will depend on your personal trading preferences. Both FXPro and Pepperstone are top-tier brokers, so you can’t go wrong with either. Choose the one that aligns with your trading style, goals, and priorities.
Editorial Staff at Chweya is a team of financial experts led by Vincent Nyagaka, with over 9 years of experience in finance, commerce, forex, crypto, and marketing. Started in 2014, Chweya is now among the largest free financial resource sites in the industry and is often referred to as Wikipedia for business.