Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs iFOREX, 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, established in 2010, and iFOREX, founded in 1996, are both online brokers that offer trading services without being publicly traded or operating as banks. Pepperstone holds a strong position in terms of regulatory safety with three Tier-1 licenses, which are highly trusted, and two Tier-2 licenses. In comparison, iFOREX holds one Tier-1 license, marking it as highly trusted, but lacks Tier-2 licenses. Their Trust Score ratings reflect these differences, with Pepperstone earning a high score of 95, indicating a high level of trust, while iFOREX scores a 75, categorized as average risk.
For individuals seeking a trusted online trading platform, understanding the regulatory landscape is crucial. Pepperstone’s accumulation of multiple Tier-1 and Tier-2 licenses, alongside its high Trust Score rating, highlights its commitment to reliability and client security. Meanwhile, iFOREX, though holding less regulatory credentials, still maintains a presence in the industry with an average sense of security for traders. This regulation comparison aids potential investors in making informed decisions based on the level of trust and oversight each broker provides.
| Feature |
Pepperstone
|
iFOREX
|
|---|---|---|
| Year Founded | 2010 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
Pepperstone and iFOREX offer distinct approaches to commissions and fees, impacting their attractiveness to traders. Pepperstone shines through its Razor account, which features competitive pricing for high-volume traders, especially when paired with their Active Trader program. This account operates with an average EUR/USD spread of 0.10 pips, plus a commission-equivalent cost that brings the total to 0.80 pips. In contrast, Pepperstone's Standard account, while commission-free, posts a higher average spread of 1.1 pips on the EUR/USD, making it a less cost-effective choice when compared to the Razor account's all-in cost.
iFOREX, on the other hand, lacks specific average spread data, making detailed comparisons challenging. Despite this gap, it holds a 3-star rating for commissions and fees, which trails behind Pepperstone's 4.5-star rating. With such a significant difference in user satisfaction and pricing structures, traders may find Pepperstone's offerings more appealing, especially for those focusing on minimizing trading costs and maximizing efficiency.
In terms of industry ranking, Pepperstone stands out with its #10 position among 62 brokers in the Commissions and Fees category according to ForexBrokers.com. iFOREX, however, is positioned much further down the list at #60. This ranking reflects Pepperstone's strong appeal in cost-effectiveness and fee structure, making it a preferred choice for traders focused on optimizing their trading expenses.
| Feature |
Pepperstone
|
iFOREX
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| 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 | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| 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 iFOREX both provide a wide array of investment opportunities, especially when it comes to forex trading through Contracts for Difference (CFDs). Pepperstone boasts a substantial 1,726 tradeable symbols, including 65 different forex pairs. In contrast, iFOREX offers 750 tradeable symbols but excels in the forex category with 88 pairs. While both brokers allow you to speculate on cryptocurrency derivatives rather than buying actual cryptocurrencies, neither offers the option to trade real stocks on U.S. or international exchanges, such as Apple or Vodafone.
Besides the sheer number of investment options, Pepperstone distinguishes itself by offering copy trading, a feature not available with iFOREX. This service allows clients to mimic the investment strategies of successful traders, potentially enhancing their trading experience. When evaluated for their range of investments, Pepperstone receives a commendable four-star rating, ranking 26th out of 62 brokers according to ForexBrokers.com. Meanwhile, iFOREX follows with a 3.5-star rating, positioned at 41st place. These differences highlight Pepperstone's broader appeal, particularly for those interested in diverse investment opportunities and the added benefit of copy trading.
| Feature |
Pepperstone
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 750 |
| Forex Pairs (Total) | 65 | 88 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | No |
| 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 iFOREX are both strong contenders in the online trading platform market, but they cater to different needs when it comes to trading platforms and tools. Pepperstone stands out by offering a wide range of platforms, including a proprietary platform, MetaTrader 4, and MetaTrader 5, which are not available with iFOREX. Additionally, Pepperstone provides a Windows-based desktop platform and the option for copy trading, enhancing its appeal for traders seeking diverse options. With features such as DupliTrade, and the availability of 30 drawing tools for charting, Pepperstone ensures a comprehensive trading experience. Additionally, Pepperstone offers a free virtual demo account, allowing traders to practice in a risk-free environment.
On the other hand, iFOREX emphasizes its unique proprietary platform and offers a web-based trading experience. While it does not support MetaTrader platforms or copy trading, iFOREX's focus on a straightforward web-based approach might appeal to traders looking for a simpler, more streamlined interface. This broker also provides trading directly from stock charts, similar to Pepperstone, and offers slightly more watch list fields with 9 columns compared to Pepperstone's 7. Despite these unique offerings, in the Trading Platforms and Tools category, Pepperstone ranks higher, securing the 22nd spot compared to iFOREX’s 54th place out of 62 brokers. Both brokers earn a solid 4 stars in user ratings, showing they are competitive choices in the market.
| Feature |
Pepperstone
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 57 |
| Charting - Drawing Tools (Total) | 30 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and iFOREX both offer mobile trading apps for iPhone and Android users, making them easily accessible for traders on the go. However, when it comes to features like stock or forex price alerts, Pepperstone has the upper hand, providing this option to its users, while iFOREX does not. Pepperstone also allows users to sync watchlists with their online accounts, ensuring that any changes are updated across both platforms, a feature missing in iFOREX's app.
Pepperstone offers a more advanced charting experience with the ability to use up to 30 technical studies and draw trendlines directly on the app. Additionally, it supports viewing multiple time frames and auto-saves drawings. iFOREX lacks these advanced charting capabilities. Both apps are rated four stars for their mobile trading experiences, but Pepperstone ranks significantly higher at #21 compared to iFOREX's #55 in the Mobile Trading Apps category by ForexBrokers.com. This indicates Pepperstone's stronger overall offering in terms of mobile trading features compared to iFOREX.
| Feature |
Pepperstone
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing Pepperstone and iFOREX for market research, both brokers provide daily market commentary and feature economic calendars to keep traders informed of global news events. Pepperstone stands out by offering forex news from top-tier sources such as Bloomberg and Reuters, setting it apart from iFOREX, which does not provide such news. Furthermore, Pepperstone equips traders with advanced tools from Autochartist for technical and fundamental analysis, while iFOREX relies on Trading Central for its technical analytics. Both brokers offer sentiment-based trading tools that gauge trader positions across various instruments, making it easier for traders to assess market sentiment.
Pepperstone's comprehensive offerings in research services have earned it a rating of 4.5 stars and a commendable 12th rank out of 62 brokers in the research category by ForexBrokers.com. In contrast, iFOREX, with its focus on Trading Central tools, receives a slightly lower rating of 3.5 stars and ranks at 48th. Despite both brokers not offering resources from Acuity Trading or TipRanks, Pepperstone's broader suite of tools and distinguished news sources provide traders with a richer and more diverse research experience in comparison to iFOREX.
| Feature |
Pepperstone
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| 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 it comes to educational resources for beginners, Pepperstone stands out as a comprehensive provider. They offer an extensive range of over 10 educational pieces, including articles and videos focused primarily on forex and CFDs. In addition, Pepperstone hosts monthly webinars and maintains a searchable archive of recorded sessions. This provides a consistent learning opportunity for those looking to deepen their trading knowledge. They also offer at least 10 videos tailored specifically for beginner traders and an investor dictionary with definitions of over 50 investing terms. As a result, Pepperstone is highly rated with 4.5 stars for education and ranks #18 among 62 brokers, according to ForexBrokers.com.
In contrast, iFOREX provides limited educational support for beginners interested in forex and CFDs. While they do offer at least 10 beginner videos, they fall short in other areas. iFOREX does not provide a significant number of educational articles or host monthly webinars, nor do they have a searchable archive of recorded webinars. Additionally, they lack an investor dictionary, limiting resources for those new to trading. Consequently, iFOREX holds a lower educational rating of 3.5 stars and ranks #53 out of 62 brokers in the education category, as per ForexBrokers.com rankings.
| Feature |
Pepperstone
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| 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 | No |
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 iFOREX. Pepperstone finished with an overall rank of #16, while iFOREX finished with an overall rank of #52.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
|
iFOREX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 75 |
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Both Pepperstone and iFOREX do not provide the option to buy actual cryptocurrency, but they each offer the ability to trade cryptocurrency derivatives.
In comparing Pepperstone and iFOREX, both brokers offer PayPal, Skrill, Visa, Mastercard, and bank wire options for depositing and withdrawing funds, yet only Pepperstone provides the additional flexibility of ACH or SEPA transfers.
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 | iFOREX | |
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| Trust Score | 95 | 75 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
| Broker Screenshots | Pepperstone | iFOREX | |
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| Regulation | Pepperstone | iFOREX | |
|---|---|---|---|
| Trust Score | 95 | 75 | |
| Year Founded | 2010 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | iFOREX | |
|---|---|---|---|
| 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 | Yes | |
| 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 | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 750 | |
| Forex Pairs (Total) | 65 | 88 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | iFOREX | |
|---|---|---|---|
| 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 | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| 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 | iFOREX | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 15 | 57 | |
| Charting - Drawing Tools (Total) | 30 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | Pepperstone | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Pepperstone | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| 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 | No |
| Major Forex Pairs | Pepperstone | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
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| Trust Score | 95 | 75 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
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