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Interactive Brokers vs Pepperstone 2026

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025
  Fact Checked

In this head to head comparison of Interactive Brokers vs Pepperstone, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

Interactive Brokers
5/5 Stars Overall
  • Minimum Deposit: $0
  • Trust Score: 99
  • Tradeable Symbols (Total): 8500
Pepperstone
4.5/5 Stars Overall
  • Minimum Deposit: $0
  • Trust Score: 94
  • Tradeable Symbols (Total): 1726

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.

Regulation

Interactive Brokers, founded in 1977, is a publicly traded online broker, while Pepperstone, founded in 2010, is privately held. Neither company is a bank. According to ForexBrokers.com, Interactive Brokers earns a Trust Score of 99/99 and Pepperstone scores 94/99—both sit in the “highly trusted” range (90–99).

In terms of regulation, Interactive Brokers holds 8 Tier-1 licenses and 2 Tier-2 licenses, compared with Pepperstone’s 3 Tier-1 and 2 Tier-2 licenses. Tier-1 licenses are considered highly trusted and Tier-2 trusted by ForexBrokers.com, which helps explain why both brokers rank highly, with Interactive Brokers edging ahead thanks to its wider top-tier oversight.

Feature Interactive Brokers logoInteractive Brokers
Pepperstone logoPepperstone
Year Founded info 1977 2010
Publicly Traded (Listed) info Yes No
Bank info No No
Tier-1 Licenses info 8 3
Tier-2 Licenses info 2 2
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 2

Fees

Interactive Brokers and Pepperstone both score very well on commissions and fees, but they suit slightly different types of forex traders. Interactive Brokers earns a 5-star rating and ranks #2 out of 36 brokers for commissions and fees. Its forex pricing is commission-based rather than spread-marked up, with average EUR/USD spreads measured at 0.19 pips in Q3 2024 and an estimated all-in cost of about 0.59 pips after commission. Its minimum commission of $2 per side can make smaller trades less cost-effective, but active traders may qualify for lower rates.

Pepperstone also earns a 5-star rating, though it ranks #6 out of 36 for commissions and fees. Its Razor account is the better-priced option, with an average EUR/USD spread of 0.10 pips as of July 2024 and an all-in cost of about 0.80 pips after commission. That is still competitive, but higher than Interactive Brokers in this comparison. Pepperstone’s Standard account is commission-free, but its average EUR/USD spread of 1.1 pips makes it the pricier choice overall.

In simple terms, Interactive Brokers is usually the lower-cost choice for forex commissions and fees, especially for active or larger-volume traders. Pepperstone can still be a good value, particularly on its Razor account and through its Active Trader discounts, but its standard pricing is not as strong. For traders focused mainly on keeping forex trading costs low, Interactive Brokers has the edge.

Feature Interactive Brokers logoInteractive Brokers
Pepperstone logoPepperstone
Minimum Deposit info $0 $0
Average spread (EUR/USD) - Standard account info 0.226 info 1.1 info
All-in Cost EUR/USD - Active info 0.226 info 0.8 info
Non-wire bank transfer info Yes Yes
PayPal (Deposit/Withdraw) info No Yes
Skrill (Deposit/Withdraw) info No No
Bank Wire (Deposit/Withdraw) info Yes Yes

Dive deeper: Best Low Spread Forex Brokers.

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Range of investments

Interactive Brokers offers a much wider range of investments than Pepperstone, making it the stronger choice for traders who want more ways to diversify. It provides access to 8,500 tradeable symbols and 90 forex pairs, compared with Pepperstone’s 1,726 symbols and 65 forex pairs. Interactive Brokers also lets clients trade exchange-traded securities on both U.S. and international exchanges, so you can buy real shares such as Apple or Vodafone directly. On top of that, it offers delivered cryptocurrency, while Pepperstone does not.

Pepperstone still covers the basics well for forex trading and adds features some investors may like, such as copy trading and cryptocurrency CFDs. Interactive Brokers does not offer copy trading or crypto CFDs, but its broader market access helps explain why it earns 5 stars for range of investments and ranks #1 out of 36 brokers in this category. Pepperstone is rated 4 stars and ranks #23, which reflects a smaller but still useful selection of markets.

Feature Interactive Brokers logoInteractive Brokers
Pepperstone logoPepperstone
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 8500 1726
Forex Pairs (Total) info 90 65
U.S. Stocks (Shares) info Yes No
Global Stocks (Non-U.S. Shares) info Yes No
Copy Trading info No Yes
Cryptocurrency (Underlying) info Yes No
Cryptocurrency (CFDs) info No 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.

Trading platforms and tools

Interactive Brokers and Pepperstone both give traders a wide choice of platform options, including a free paper trading account, an in-house platform, a Windows desktop app, and a web-based platform. Each also lets users place trades directly from a chart, which can make it easier to react quickly while analyzing price moves. In Trading Platforms and Tools, Interactive Brokers stands out with a 5-star rating and a #2 ranking out of 36 brokers from ForexBrokers.com, while Pepperstone is rated 4 stars and ranked #21.

The key difference is that Pepperstone offers more third-party trading extras, including copy trading plus MetaTrader 4 and MetaTrader 5, which may appeal to traders who want familiar software and social trading features. Interactive Brokers does not support those options, but it is still a strong choice for traders who want a broad set of built-in tools and a highly rated platform lineup.

Feature Interactive Brokers logoInteractive Brokers
Pepperstone logoPepperstone
Virtual Trading (Demo) info Yes Yes
Proprietary Desktop Trading Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info No Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
Charting - Indicators / Studies (Total) info 155 15
Charting - Trade From Chart info Yes Yes

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

Interactive Brokers and Pepperstone both offer mobile trading apps for iPhone and Android, along with price alerts, watchlist syncing, and the ability to draw trendlines on charts. That means traders can track markets and manage watchlists on the go with either broker, while keeping mobile activity linked to their online accounts.

Where Interactive Brokers stands out is in charting depth, with 155 technical studies in its mobile app compared with Pepperstone’s 30. Interactive Brokers also earns a higher mobile app rating of 5 stars and ranks #4 out of 36 brokers for mobile trading apps, while Pepperstone is rated 4 stars and ranks #19. One area where Pepperstone has the edge is that its mobile app automatically saves chart drawings, while Interactive Brokers does not.

Feature Interactive Brokers logoInteractive Brokers
Pepperstone logoPepperstone
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlists - Syncing info Yes Yes
Mobile Charting - Indicators / Studies info 155 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info No Yes

Dive deeper: Best Forex Trading Apps.

Market research

Interactive Brokers and Pepperstone both give traders useful market research, including daily market commentary, news from top sources such as Bloomberg and Reuters, sentiment tools, and an economic calendar with upcoming global events. Both brokers also make it easier to track market-moving data and stay informed about changes across major economies.

Where Interactive Brokers stands out is in the range of extra research tools it offers. It includes Trading Central, TipRanks, and Acuity Trading, while Pepperstone offers Autochartist instead. That broader set of tools helps explain why Interactive Brokers earns a 5-star Research rating and ranks #3 out of 36 brokers, compared with Pepperstone’s 4.5-star rating and #13 ranking.

Feature Interactive Brokers logoInteractive Brokers
Pepperstone logoPepperstone
Daily Market Commentary (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No Yes
Trading Central info Yes No
Client sentiment data info Yes Yes
TipRanks info Yes No
Acuity Trading info Yes No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

When it comes to learning resources for beginners, both Interactive Brokers and Pepperstone give new traders plenty of material to work with. Each broker offers at least 10 pieces of forex or CFD education, monthly educational webinars, and a wide range of beginner and advanced video lessons. That means a beginner can find basic trading explanations, market topics, and more advanced content at either firm without needing to look elsewhere right away.

Still, Interactive Brokers has the edge overall for education. It is rated 5 out of 5 stars and ranks #1 out of 36 brokers in the Education category, while Pepperstone is rated 4.5 out of 5 stars and ranks #15. For beginners, both are strong choices, but Interactive Brokers stands out as the better pick if education is a top priority.

Feature Interactive Brokers logoInteractive Brokers
Pepperstone logoPepperstone
Webinars info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 63 of the best forex brokers, our research and account testing finds that Interactive Brokers is better than Pepperstone. Interactive Brokers finished with an overall rank of #2, while Pepperstone finished with an overall rank of #17.

Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.

Feature Interactive Brokers logoInteractive Brokers
Pepperstone logoPepperstone
Overall Rating info 5/5 Stars 4.5/5 Stars
Trust Score info 99 94
Range of Investments 5/5 Stars 4/5 Stars
Trading Fees 5/5 Stars 5/5 Stars
Trading Platforms 5/5 Stars 4/5 Stars
Research 5/5 Stars 4.5/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Education 5/5 Stars 4/5 Stars

FAQs

Can you trade cryptocurrency with Interactive Brokers or Pepperstone?

Comparing online brokers Interactive Brokers and Pepperstone, Interactive Brokers lets you buy actual (delivered) cryptocurrency but does not offer cryptocurrency CFDs, while Pepperstone provides cryptocurrency CFDs but does not support buying actual (delivered) crypto.

What funding options does each broker offer?

Interactive Brokers vs Pepperstone: both support ACH/SEPA and bank wire transfers for deposits and withdrawals, neither supports Skrill, and only Pepperstone offers PayPal while Interactive Brokers does not.

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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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Overall Rating Interactive Brokers Pepperstone
Overall Rating info 5/5 Stars 4.5/5 Stars
Trading Fees 5/5 Stars 5/5 Stars
Range of Investments 5/5 Stars 4/5 Stars
Trading Platforms 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 5/5 Stars 4/5 Stars
Trust Score info 99 94
Winner check_circle
Review Interactive Brokers Review Pepperstone Review
Broker Screenshots Interactive Brokers Pepperstone
Broker Gallery (click to expand) info
IBKR mobile watchlist. IBKR Desktop platform charts. Interactive Brokers research Traders Insight daily analysis article detail Interactive Brokers IBKR Podcast video.
Pepperstone cTrader mobile watchlist Pepperstone TradingView platform web. Pepperstone research The Daily Fix analysis articles. Pepperstone educational learning center.
Regulation Interactive Brokers Pepperstone
Trust Score info 99 94
Year Founded info 1977 2010
Publicly Traded (Listed) info Yes No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-1 Licenses info 8 3
Tier-2 Licenses info 2 2
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 2
Tier-1 Licenses (Highly Trusted) Interactive Brokers Pepperstone
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info Yes No
Hong Kong (SFC Authorised) info Yes No
Japan (FSA Authorised) info Yes No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info Yes
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info Yes No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses (Trusted) Interactive Brokers Pepperstone
Kenya (CMA Authorised) info Yes
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA, FSRA, or CMA Authorised) info Yes Yes
India (SEBI Authorised) info Yes No
Jordan (JSC Authorised) info
Investments Interactive Brokers Pepperstone
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 8500 1726
Forex Pairs (Total) info 90 65
U.S. Stocks (Shares) info Yes No
Global Stocks (Non-U.S. Shares) info Yes No
Copy Trading info No Yes
Cryptocurrency (Underlying) info Yes No
Cryptocurrency (CFDs) info No 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 Interactive Brokers Pepperstone
Average spread (EUR/USD) - Standard account info 0.226 info 1.1 info
All-in Cost EUR/USD - Active info 0.226 info 0.8 info
Inactivity Fee info No No
Order execution: Agency info Yes Yes
Order execution: Market Maker info No Yes
Funding Interactive Brokers Pepperstone
Minimum Deposit info $0 $0
PayPal (Deposit/Withdraw) info No Yes
Skrill (Deposit/Withdraw) info No No
Bank Wire (Deposit/Withdraw) info Yes Yes
Non-wire bank transfer info Yes Yes
Trading Platforms Interactive Brokers Pepperstone
Proprietary Desktop Trading Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info No Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
cTrader info No Yes
Trading Tools Interactive Brokers Pepperstone
Virtual Trading (Demo) info Yes Yes
Price Alerts info Yes Yes
Charting - Indicators / Studies (Total) info 155 15
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading Interactive Brokers Pepperstone
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info Yes Yes
Mobile Charting - Indicators / Studies info 155 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info No Yes
Mobile Research - Economic Calendar info Yes Yes
Research Interactive Brokers Pepperstone
Daily Market Commentary (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No Yes
Trading Central info Yes No
TipRanks info Yes No
Client sentiment data info Yes Yes
Economic Calendar info Yes Yes
Education Interactive Brokers Pepperstone
Webinars info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Major Forex Pairs Interactive Brokers Pepperstone
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info Yes Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
Review Interactive Brokers Review Pepperstone Review
Overall Interactive Brokers Pepperstone
Overall Rating info 5/5 Stars 4.5/5 Stars
Trading Fees 5/5 Stars 5/5 Stars
Range of Investments 5/5 Stars 4/5 Stars
Trading Platforms 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 5/5 Stars 4/5 Stars
Trust Score info 99 94
Winner check_circle
Review Interactive Brokers Review Pepperstone Review
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