Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs Alpari, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Pepperstone and Alpari both serve as notable names in the online brokerage world, but they stand apart in terms of trust and regulation. Founded in 2010, Pepperstone boasts a strong reputation with a ForexBrokers.com Trust Score of 95, making it a highly trusted platform. It holds three top-tier licenses and two more trusted licenses, reflecting its commitment to providing secure and reliable service to its users. Although it is not publicly traded nor a bank, its regulatory standing places it among the industry's respected entities.
Founded earlier in 1998, Alpari, in contrast, presents a different trust profile with its ForexBrokers.com Trust Score of 68, which categorizes it as high risk. Unlike Pepperstone, Alpari does not possess any top-tier or additional trusted licenses, which may be a concern for those prioritizing regulatory assurance. Alpari, like Pepperstone, is neither publicly traded nor a bank, indicating a similar business structure yet differing significantly in their respective trust and regulatory environments.
| Feature |
Pepperstone
|
Alpari
|
|---|---|---|
| Year Founded | 2010 | 1998 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 0 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
Pepperstone stands out in the competitive online brokerage landscape with its Razor account, known for attractive pricing especially when combined with its Active Trader program aimed at high-volume traders. The Razor account, compatible with platforms like TradingView, MetaTrader, and cTrader, operates on a commission-based model, featuring an average spread of 0.10 pips for the EUR/USD, and an all-in cost of 0.80 pips including commission. In contrast, Pepperstone’s Standard account is commission-free but features higher spreads, with an average of 1.1 pips on the EUR/USD, making it a less cost-effective option compared to the Razor account. Pepperstone earns a commendable 4.5-star rating for its competitive commissions and fees, ranking it 10th among 62 brokers evaluated by ForexBrokers.com.
In comparison, Alpari doesn't provide as much detail about its spread offerings, making it difficult for traders to easily evaluate its value. While Alpari provides a solid trading experience, it earns a slightly lower rating of 4 stars from ForexBrokers.com for commissions and fees, ranking it 41st among the same 62 brokers. This suggests that while Alpari is a reputable broker, Pepperstone's detailed pricing structures and programs can offer a more competitive edge for those particularly focused on cost efficiency.
Pepperstone also offers a rebate program through its Active Trader program, especially beneficial for professional clients both in the UK, EU, and Australia. These clients can enjoy significant rebates or discounts on spreads depending on their monthly trading volume, with potential spread reductions of up to 30%. Such incentives provide Pepperstone with a notable advantage by directly reducing trading costs for high-volume participants, enhancing its appeal to heavy traders seeking lower fees.
| Feature |
Pepperstone
|
Alpari
|
|---|---|---|
| Minimum Deposit | $0 | $20 |
| Average Spread EUR/USD - Standard | 1.00 | N/A |
| All-in Cost EUR/USD - Active | 0.70 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Pepperstone and Alpari both offer forex trading as either a CFD or a spot contract. When it comes to the variety of tradeable options, Pepperstone provides significantly more choices with 1,726 tradeable symbols and 65 forex pairs, compared to Alpari's 105 tradeable symbols and 46 forex pairs. Neither broker offers exchange-traded securities on U.S. exchanges, but Alpari stands out by providing access to international exchanges, allowing clients to invest in companies like Vodafone from the London Stock Exchange.
Both Pepperstone and Alpari offer copy trading and the chance to trade cryptocurrency derivatives, though neither broker supports the purchase of actual cryptocurrencies. Based on their range of investments, Pepperstone receives a 4-star rating, while Alpari holds a 3-star rating. According to ForexBrokers.com, Pepperstone is ranked #26 out of 62 brokers for its investment offerings, outperforming Alpari, which ranks last at #62 in the same category.
| Feature |
Pepperstone
|
Alpari
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 105 |
| Forex Pairs (Total) | 65 | 46 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
Pepperstone and Alpari both provide an array of trading platforms and tools designed to cater to different trading needs. They each offer simulated trading through free virtual demo accounts, enabling traders to practice and hone their skills without financial risk. Both companies have developed proprietary platforms while also supporting popular platforms like MetaTrader 4 and 5. Desktop and web-based platforms are available from Pepperstone and Alpari, making trading accessible across numerous devices. In terms of social trading, both support copy trading, but only Pepperstone offers DupliTrade. While neither broker integrates ZuluTrade, both allow for trading directly from stock charts.
When it comes to charting features, Pepperstone takes the lead with 30 drawing tools, compared to Alpari's 15. Both brokers equip traders with 7 columns for watch lists, allowing detailed organization of trading instruments. On the rating scale, both platforms earned a commendable 4 out of 5 stars for their trading platforms and tools, reflecting their capacity to meet diverse trader requirements. However, Pepperstone ranks significantly higher in user satisfaction according to ForexBrokers.com, coming in 22nd out of 62 brokers, while Alpari ranks at 55th. This ranking may reflect subtle differences in their overall offerings despite their apparent similarities.
| Feature |
Pepperstone
|
Alpari
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 30 |
| Charting - Drawing Tools (Total) | 30 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Pepperstone and Alpari, both platforms are available on iPhone and Android devices, catering to a wide range of traders. They also offer essential features like stock and forex price alerts and the ability to create watchlists with real-time quotes. Each app provides 30 technical studies for charting, supports drawing trendlines, and viewing multiple time frames, such as daily or weekly charts. However, a notable difference lies in Pepperstone's watchlist symbol syncing, which allows changes made in the app to sync with your online account, a feature not available with Alpari. Additionally, the Pepperstone app automatically saves chart drawings, a convenience not offered by Alpari.
In terms of ratings, both Pepperstone and Alpari achieve a solid 4-star rating for their mobile trading apps. Yet, Pepperstone holds a significant edge in rankings, placed at #21 by ForexBrokers.com, while Alpari is positioned much lower at #56 out of 62 brokers. This ranking reflects a competitive advantage for Pepperstone, likely influenced by its richer feature set and smoother integration capabilities, which might explain its higher usability appeal in the trading app market.
| Feature |
Pepperstone
|
Alpari
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, Pepperstone and Alpari have some differences and similarities that traders should consider. Pepperstone offers daily market commentary, giving traders insight into current market trends, while Alpari does not provide this feature. Both brokers offer forex news from high-quality sources like Bloomberg and Reuters. They also provide technical analysis tools and research from Autochartist but do not offer Trading Central's tools. Moreover, Pepperstone provides a unique sentiment-based trading tool, which Alpari lacks, allowing traders to gauge the market's stance on various currency pairs.
For those interested in economic events, both Pepperstone and Alpari offer economic calendars showcasing global news. However, when rated for research, Pepperstone scores higher with 4.5 stars compared to Alpari's 3 stars. This is reflected in their rankings by ForexBrokers.com, where Pepperstone holds the 12th spot out of 62 brokers, whereas Alpari is positioned at 57th. Overall, Pepperstone provides a richer set of tools and commentary, making it more appealing for traders focused on market research.
| Feature |
Pepperstone
|
Alpari
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Pepperstone and Alpari both provide educational resources for beginners interested in forex or CFDs, offering a range of content such as articles and videos. Pepperstone stands out with its monthly online webinars and maintains a searchable archive for these sessions, a feature Alpari does not provide. Both brokers furnish newcomers with at least 10 beginner-focused educational videos. However, Pepperstone goes a step further by offering advanced videos for experienced traders, an area where Alpari falls short. Additionally, each broker provides an investor dictionary to help demystify investment terms.
For those searching for comprehensive learning, Pepperstone offers a broader set of resources, reflected in its higher education rating of 4.5 stars compared to Alpari's 3 stars. Pepperstone holds an 18th place ranking by ForexBrokers.com for education out of 62 brokers, significantly outperforming Alpari, which is placed 48th. This distinction showcases Pepperstone's commitment to catering to both beginners and advanced traders through its diverse educational offerings.
| Feature |
Pepperstone
|
Alpari
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Pepperstone is better than Alpari. Pepperstone finished with an overall rank of #16, while Alpari finished with an overall rank of #57.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
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Alpari
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|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 68 |
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Both Pepperstone and Alpari do not provide the option to purchase actual (delivered) cryptocurrency, but they do offer the ability to trade cryptocurrency derivatives, allowing investors to speculate on digital currencies without owning them.
Pepperstone provides a wider range of deposit and withdrawal options, including ACH, SEPA transfers, and PayPal, which are not available with Alpari, while both brokers support Skrill, Visa/Mastercard, and bank wire transactions.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | Pepperstone | Alpari | |
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| Trust Score | 95 | 68 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
| Broker Screenshots | Pepperstone | Alpari | |
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| Regulation | Pepperstone | Alpari | |
|---|---|---|---|
| Trust Score | 95 | 68 | |
| Year Founded | 2010 | 1998 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 3 | 0 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | Alpari | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | Pepperstone | Alpari | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Pepperstone | Alpari | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 105 | |
| Forex Pairs (Total) | 65 | 46 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | Pepperstone | Alpari | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | N/A | |
| All-in Cost EUR/USD - Active | 0.70 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | Alpari | |
|---|---|---|---|
| Minimum Deposit | $0 | $20 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Pepperstone | Alpari | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | Alpari | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Drawing Tools (Total) | 30 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | Alpari | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Pepperstone | Alpari | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | Alpari | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Pepperstone | Alpari | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | Pepperstone Review |
| Overall | Pepperstone | Alpari | |
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| Trust Score | 95 | 68 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
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