Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs Axi, 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 Axi are both reputable online trading brokers offering a secure trading environment, but they differ in their regulatory standing. Founded in 2010 in Australia, Pepperstone holds a stronger position with three Tier-1 licenses and a Trust Score of 95, signifying a high level of trust. This broker is privately owned and not a bank, allowing it to remain closely aligned with trader needs while maintaining regulatory compliance across various regions.
On the other hand, Axi, established in 2007, also offers a reliable trading platform, but with slightly lesser regulatory endorsements. Axi holds two Tier-1 licenses and a Trust Score of 82, marking it as a trusted broker. Similarly, Axi is not publicly traded and operates independently of banking institutions. While both brokers provide secure trading experiences, those seeking higher assurance in regulatory backing might prefer Pepperstone.
| Feature |
Pepperstone
|
Axi
|
|---|---|---|
| Year Founded | 2010 | 2007 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When it comes to comparing online brokers for their commissions and fees, Pepperstone and Axi have distinct offerings. Pepperstone, an agency-execution broker, shines particularly with its Razor account, offering favorable pricing for high-volume traders through the Active Trader program. With an average spread of 0.10 pips for the EUR/USD, and an additional commission-equivalent of 0.70 pips, the Razor account all-in cost tallies to 0.80 pips—around the industry norm. The Standard account, in contrast, is commission-free but features a higher spread of 1.1 pips for the same currency pair, making it a pricier option compared to Razor.
Pepperstone further sweetens the deal for active traders with rebates on spreads correlating to trading volume. European and UK professional clients, for instance, can earn a 15% rebate on forex spreads if they trade £20 million monthly, with possibilities for up to a 25% rebate at higher volumes. Australian active traders receive similar perks, with discounts starting at 10% at lower tiers and reaching 30% for those trading over 3001 lots monthly. Pepperstone enjoys high ratings, scoring 4.5 out of 5 stars for commissions and fees, ranking 10th out of 62 brokers according to ForexBrokers.com.
Axi, in comparison, does not disclose average spread data. Rated at 4 out of 5 stars for commissions and fees, Axi holds the 44th position among 62 brokers in the rankings. Although it offers competitive features, Axi's rating and rank suggest it might not be as enticing as Pepperstone for budget-conscious traders looking for cost-effective trading conditions.
| Feature |
Pepperstone
|
Axi
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| 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.
When it comes to the variety of investments available, Pepperstone and Axi both offer forex trading, available as CFDs or spot contracts, with an equal selection of 65 tradeable forex pairs. However, Pepperstone stands out with a much larger suite of total tradeable symbols, offering 1,726 compared to Axi's 175. Unfortunately, neither broker facilitates the purchase of exchange traded securities on U.S. or international exchanges nor the ability to buy actual (delivered) cryptocurrencies. Instead, both provide trading in cryptocurrency derivatives, allowing clients to engage in crypto markets without owning the actual digital currency.
Both Pepperstone and Axi support copy trading features, appealing to those interested in mimicking successful trades, yet they differ in their Range of Investments ratings. Pepperstone receives a higher score of four stars, ranked #26 among 62 brokers by ForexBrokers.com, whereas Axi is rated at 3.5 stars, placing it at #55 in the same category. This positioning suggests that while both brokers share several features, Pepperstone offers a broader investment selection, giving it an edge in the marketplace.
| Feature |
Pepperstone
|
Axi
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 175 |
| Forex Pairs (Total) | 65 | 65 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| 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 Axi both provide excellent online trading platforms tailored for traders looking for a versatile and engaging experience. Both brokers offer free virtual demo accounts, allowing users to explore and practice with simulated trading before making real investments. However, a key difference lies in Pepperstone's provision of a proprietary platform developed in-house, which Axi does not offer. Both brokers have Windows-based desktop download platforms and web-based browser trading platforms, supporting popular tools like MetaTrader 4 (MT4). Notably, only Pepperstone supports MetaTrader 5 (MT5), which can be a decisive factor for traders seeking more advanced features. While both offer copy trading, Pepperstone also provides DupliTrade, unlike Axi, which instead offers ZuluTrade. For charting, Pepperstone edges out with 30 drawing tools, compared to Axi's 15. Both brokers support trading directly from stock charts and provide seven fields for customizing watch lists.
When it comes to ratings, Pepperstone receives four stars for its trading platforms and tools, ranking 22nd out of 62 brokers on ForexBrokers.com. This contrasts with Axi, which, with a 3.5-star rating for the same category, ranks at #62. This distinction reflects Pepperstone’s superior features and customization options, making it a preferred choice for traders in search of a more comprehensive trading experience. Overall, the offerings from Pepperstone may cater more effectively to those seeking advanced trading tools and proprietary platform options, whereas Axi provides a reliable selection of standard tools without the bells and whistles.
| Feature |
Pepperstone
|
Axi
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | Yes | No |
| ZuluTrade | No | Yes |
| 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.
Pepperstone and Axi both provide comprehensive mobile trading apps for iPhone and Android users, equipped with features like stock or forex price alerts and the ability to draw trendlines on charts. Both apps enable users to view various time frames and offer 30 technical studies for insightful charting. However, Pepperstone holds an edge with its watchlist symbol syncing feature, allowing smooth integration between the mobile app and the client's online account. This ensures any changes made in one platform are instantly reflected in the other, unlike Axi.
When it comes to usability, Pepperstone's mobile app rates slightly higher with 4 stars compared to Axi's 3.5 stars. Additionally, Pepperstone's app automatically saves chart drawings, a feature not available in Axi's app. These advantages contribute to Pepperstone's higher ranking at #21 in the Mobile Trading Apps category by ForexBrokers.com, whereas Axi stands at #59 among 62 brokers. Overall, Pepperstone offers a more seamless and integrated mobile trading experience than Axi.
| Feature |
Pepperstone
|
Axi
|
|---|---|---|
| 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.
Pepperstone and Axi offer traders a range of market research tools, but with notable differences. Pepperstone excels in providing daily market commentary and forex news from top-tier sources like Bloomberg and Reuters, helping traders stay informed of market conditions. Both brokers offer technical analysis resources through partnerships with Autochartist, as well as sentiment-based trading tools to gauge market positions across various instruments. However, neither broker provides tools from Trading Central, TipRanks, or Acuity Trading.
When it comes to keeping traders updated on global economic events, both Pepperstone and Axi offer economic calendars. Where Pepperstone stands out is in its overall research offerings. With a respected 4.5-star rating from ForexBrokers.com, Pepperstone ranks impressively at #12 out of 62 brokers. In contrast, Axi has a 3-star rating, placing it at #55. This ranking highlights Pepperstone's stronger research capabilities and commitment to empowering traders with actionable insights.
| Feature |
Pepperstone
|
Axi
|
|---|---|---|
| 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 | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When exploring educational resources for novice traders, both Pepperstone and Axi offer a solid foundation through a variety of educational materials. Pepperstone shines by providing a vast array of content, including over ten educational pieces focused on forex and CFDs, regular online webinars, and a comprehensive archive of previously recorded sessions that are accessible for further learning. A unique advantage for Pepperstone users is the series of advanced educational videos tailored for experienced traders, alongside a dictionary containing definitions for more than 50 investing terms. These offerings contribute to its impressive 4.5-star rating and a top 20 ranking in the educational category by ForexBrokers.com.
Axi also supports beginners with its own suite of educational materials, featuring more than ten articles, videos, and webinars primarily about forex and CFDs. While Axi maintains a monthly schedule of live webinars, it falls short by lacking a searchable archive of recorded sessions. Beginners might find the resources adequate, but those looking to deepen their knowledge with advanced video content may need to look elsewhere, as Axi does not offer specific educational videos for more experienced traders. Although Axi does provide a helpful investor dictionary, its overall educational resources earn it a 3-star rating and a lower ranking compared to Pepperstone, coming in at 26th place among 62 brokers evaluated by ForexBrokers.com.
| Feature |
Pepperstone
|
Axi
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| 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 Axi. Pepperstone finished with an overall rank of #16, while Axi finished with an overall rank of #49.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
|
Axi
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 82 |
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Both Pepperstone and Axi do not offer the ability to buy actual, delivered cryptocurrencies, but they do provide options to trade cryptocurrency derivatives.
Pepperstone offers a more diverse range of deposit and withdrawal options compared to Axi, including ACH and SEPA transfers, PayPal, Skrill, Visa, Mastercard, and bank wires, while Axi lacks ACH, SEPA, and PayPal options but supports 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 | Axi | |
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| Trust Score | 95 | 82 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
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| Regulation | Pepperstone | Axi | |
|---|---|---|---|
| Trust Score | 95 | 82 | |
| Year Founded | 2010 | 2007 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | Axi | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| 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 | Yes | |
| 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 | Axi | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Pepperstone | Axi | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 175 | |
| Forex Pairs (Total) | 65 | 65 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| 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 | Axi | |
|---|---|---|---|
| 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 | Axi | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| 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 | Axi | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | Yes |
| Trading Tools | Pepperstone | Axi | |
|---|---|---|---|
| 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 | Axi | |
|---|---|---|---|
| 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 | No |
| Research | Pepperstone | Axi | |
|---|---|---|---|
| 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 | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | Axi | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| 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 | Axi | |
|---|---|---|---|
| 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 | Axi | |
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| Trust Score | 95 | 82 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
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