Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs FP Markets, 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 (founded 2010) and FP Markets (founded 2005) are online brokers that are not publicly traded and are not banks. Based on ForexBrokers.com Trust Score out of 99, Pepperstone scores 94 and FP Markets scores 90—both land in the highly trusted range (90–99).
In terms of regulation, Pepperstone holds 3 Tier-1 licenses (highly trusted by ForexBrokers.com) and 2 Tier-2 licenses (trusted). FP Markets holds 2 Tier-1 and 1 Tier-2 licenses. Both brokers are seen as safe choices, with Pepperstone edging ahead on the number of top-tier licenses and its slightly higher Trust Score.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Year Founded | 2010 | 2005 |
| 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 | 2 |
Pepperstone stands out for pricing on its Razor account, especially for active traders using the Active Trader program. Its Razor account uses commission-based pricing and can deliver low all-in costs, with the EUR/USD averaging 0.10 pips plus a 0.70-pip commission-equivalent cost for an all-in 0.80 pips (July 2024). By contrast, Pepperstone’s commission-free Standard account is more expensive, with a 1.1-pip average spread on EUR/USD. Pepperstone is rated 5 stars and ranked #6 out of 36 brokers for Commissions and Fees.
FP Markets is also a strong choice for low trading costs, especially through its Raw ECN account on MetaTrader, cTrader, and related platforms. Its Raw ECN account averaged 0.1 pips on EUR/USD as of October 2023, or about 0.8 pips all-in after commission, which is very close to Pepperstone’s Razor pricing. FP Markets’ Standard account is less attractive on price, with a higher EUR/USD spread of 1.1 pips. FP Markets is rated 4.5 stars and ranked #11 out of 36 brokers for Commissions and Fees.
Overall, Pepperstone and FP Markets are both competitive for cost-conscious traders, but Pepperstone has the edge in the rankings and rating. Pepperstone is better suited to high-volume traders who can benefit from rebates, while FP Markets offers excellent value through its commission-based Raw ECN setup and earned Best in Class recognition for Commissions and Fees in 2024.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Minimum Deposit | $0 | $100 AUD |
| Average spread (EUR/USD) - Standard account | 1.1 | 1.3 |
| All-in Cost EUR/USD - Active | 0.8 | 0.9 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Pepperstone and FP Markets both give traders access to forex as CFDs or spot contracts, along with copy trading and cryptocurrency CFDs. Neither broker offers direct share dealing on U.S. or international exchanges, and neither lets clients buy actual cryptocurrency. In this way, both platforms focus on trading through CFDs rather than offering traditional investing in listed stocks or delivered crypto.
Where FP Markets pulls ahead is in the size of its product list. Pepperstone offers 1,726 tradeable symbols and 65 forex pairs, while FP Markets offers 10,000 tradeable symbols and 71 forex pairs, giving it a much wider selection overall. This stronger range is reflected in independent ratings too: FP Markets scores 4.5 out of 5 for Range of Investments and ranks 17th out of 36 brokers, compared with Pepperstone’s 4 out of 5 rating and 23rd place.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 10000 |
| Forex Pairs (Total) | 65 | 71 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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 FP Markets are closely matched when it comes to trading platforms and tools. Both brokers offer free demo accounts for simulated trading, along with their own in-house platform, web-based trading, and Windows desktop downloads. Each also supports popular third-party platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5), plus copy trading and the ability to place trades directly from a chart. In short, both brokers give traders a wide set of platform choices, whether they prefer to trade on a browser, desktop app, or through a familiar MetaTrader setup.
When it comes to overall platform quality, both brokers are rated 4 out of 5 stars for Trading Platforms and Tools. Pepperstone is ranked #21 out of 36 brokers by ForexBrokers.com in this category, while FP Markets is just behind at #22. That means Pepperstone has a slight edge in the ranking, but the gap is very small. For many traders, the decision between the two may come down to personal preference in platform design and the tools they like to use most.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 15 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and FP Markets both give traders mobile apps for iPhone and Android, plus useful tools like price alerts, trendline drawing, and auto-saving chart drawings. Each broker also earns a 4-star rating for mobile trading apps, so both are solid options if you want to trade on the go. Pepperstone stands out a bit more for charting, offering 30 technical studies in its app, while FP Markets uses the default MetaTrader charting setup.
The biggest difference is watchlist syncing. Pepperstone lets your mobile watchlists stay in sync with your online account, so updates carry over between devices. FP Markets does not offer that feature, which may matter if you switch between desktop and mobile often. In ForexBrokers.com’s mobile app rankings, Pepperstone places slightly higher at #19 out of 36 brokers, compared with FP Markets at #20.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | MetaTrader (Default) |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Pepperstone and FP Markets both give traders useful market research tools, including daily market commentary, news from major sources such as Bloomberg, Reuters, and Dow Jones, sentiment data, Autochartist tools, and an economic calendar with global events. This means both brokers offer a solid starting point for traders who want help following market moves and planning trades.
The key difference is that FP Markets also includes Trading Central research tools, while Pepperstone does not. That extra feature likely helps explain why Pepperstone scores higher for research overall, with a 4.5-star rating and a #13 ranking out of 36 brokers, compared with FP Markets’ 4-star rating and #22 ranking.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Pepperstone and FP Markets both give beginners a solid starting point, with each broker offering forex and CFD learning materials, monthly online webinars, and at least 10 beginner videos plus 10 advanced videos. That means new traders can find basic lessons to help them get started, while more experienced users can also dig into more detailed trading topics. In this area, the two brokers are fairly close, so either one can work well for someone who wants access to a broad mix of educational content.
The main difference is in overall quality and ranking. Pepperstone is rated 4.5 out of 5 for education and ranks #15 out of 36 brokers on ForexBrokers.com, while FP Markets is rated 4 out of 5 and ranks #22. For beginners choosing between them, Pepperstone has the slight edge thanks to its higher education score and better ranking, although FP Markets still offers plenty of useful learning support.
| Feature |
Pepperstone
|
FP Markets
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Pepperstone is better than FP Markets. Pepperstone finished with an overall rank of #17, while FP Markets finished with an overall rank of #19.
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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FP Markets
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|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 90 |
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Pepperstone vs FP Markets: neither broker allows you to buy actual (delivered) cryptocurrency, but both offer cryptocurrency CFD trading.
Pepperstone vs FP Markets: Pepperstone supports ACH/SEPA, PayPal, and bank wire transfers but not Skrill, whereas FP Markets supports PayPal, Skrill, and bank wire transfers but not ACH/SEPA; Visa/Mastercard availability for either broker was not specified.
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 | FP Markets | |
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| Trust Score | 94 | 90 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | FP Markets Review |
| Broker Screenshots | Pepperstone | FP Markets | |
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| Regulation | Pepperstone | FP Markets | |
|---|---|---|---|
| Trust Score | 94 | 90 | |
| Year Founded | 2010 | 2005 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 2 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | FP Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| 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 | Yes |
| Tier-2 Licenses (Trusted) | Pepperstone | FP Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Pepperstone | FP Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 10000 | |
| Forex Pairs (Total) | 65 | 71 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 | FP Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.1 | 1.3 | |
| All-in Cost EUR/USD - Active | 0.8 | 0.9 | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | FP Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 AUD | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | Pepperstone | FP Markets | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | Yes |
| Trading Tools | Pepperstone | FP Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | FP Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | MetaTrader (Default) | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Pepperstone | FP Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | No | Yes | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | FP Markets | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Pepperstone | FP Markets | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Pepperstone Review | FP Markets Review |
| Overall | Pepperstone | FP Markets | |
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| Trust Score | 94 | 90 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | FP Markets Review |
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