Written by ForexBrokers.com
In this head to head comparison of OANDA vs Pepperstone, 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.
When comparing online brokers OANDA and Pepperstone, both show strong regulatory credentials, though there are some differences. Established in 1996, OANDA is one of the older players in the field, and holds an impressive seven Tier-1 licenses, a testament to its highly trusted status in the financial world. Supported by a Trust Score of 93 according to ForexBrokers.com, OANDA is not publicly traded nor operates as a bank, which is similar to its competitor.
Pepperstone, founded in 2010, demonstrates its reliability with three Tier-1 licenses. Despite having fewer Tier-1 licenses than OANDA, Pepperstone balances this with two Tier-2 licenses, enhancing its reputation as a trusted broker. Pepperstone edges slightly ahead in overall trustworthiness with a ForexBrokers.com Trust Score of 95. Like OANDA, Pepperstone is neither publicly traded nor a bank, making both brokers comparable in terms of corporate structure.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Year Founded | 1996 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 3 |
| Tier-2 Licenses | 0 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
When it comes to commissions and fees, OANDA and Pepperstone both offer competitive services, but with notable differences that cater to varied trading preferences. OANDA, with a rating of 4 stars, is ranked #34 out of 62 brokers by ForexBrokers.com in the Commissions and Fees category. It is known for its slightly higher trading costs, with average spreads of 1.61 pips for the EUR/USD pair on its default pricing. OANDA's core pricing offers slightly better value with spreads starting at 0.4 pips, but a commission ($5 per $100,000 traded) still applies, leading to a total cost of about 1.4 pips. This model is geared toward traders who can afford a $10,000 minimum deposit. In addition, OANDA offers unique features like trading micro-lots as small as 1 unit and an Elite Trader program with rebate tiers for high-volume traders.
On the other hand, Pepperstone, which holds a higher rating of 4.5 stars and is ranked #10 for Commissions and Fees, provides more favorable pricing through its Razor account, especially when combined with its Active Trader program. The Razor account, which includes platforms like TradingView, MetaTrader, and cTrader, shows an average spread of 0.10 pips for EUR/USD and a commission equivalence of 0.70 pips, leading to a total cost of 0.80 pips. In comparison, Pepperstone's commission-free Standard account has a higher spread, averaging 1.1 pips for the same currency pair. For active users, Pepperstone offers spread rebates tied to trading volume and even more comprehensive rebate options for professional clients within the UK, EU, and Australia.
In summary, while both brokers have their merits, Pepperstone generally offers more competitive fees for traders who engage in higher volumes and can leverage tiered rebates. Meanwhile, OANDA appeals with unique trading features and transparency, albeit at a slightly higher cost. For traders prioritizing lower fees and advanced trading options, Pepperstone may present the better choice.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.61 | 1.00 |
| All-in Cost EUR/USD - Active | 1.61 | 0.70 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| 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.
When comparing investment options between OANDA and Pepperstone, both brokers offer forex trading as CFDs or spot contracts, providing a solid foundation for currency trading enthusiasts. OANDA takes the lead with an expansive offering of 3,928 tradeable symbols and 68 forex pairs, compared to Pepperstone's 1,726 tradeable symbols and 65 forex pairs. Despite the difference in the number of available symbols, neither platform provides access to exchange-traded securities on U.S. or international markets, such as buying shares of Apple or Vodafone directly.
Both OANDA and Pepperstone support copy trading, enhancing opportunities for clients looking to mirror successful trading strategies. For those interested in cryptocurrencies, OANDA stands out by offering the ability to buy actual digital coins, while Pepperstone only provides trading in cryptocurrency derivatives. Both brokers are rated four stars for their range of investments, with ForexBrokers.com ranking OANDA at 27th and Pepperstone slightly higher at 26th among 62 evaluated brokers in this category.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 1726 |
| Forex Pairs (Total) | 68 | 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) | Yes | 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.
When looking at the trading platforms and tools offered by OANDA and Pepperstone, both brokers provide a comprehensive range of features that cater to traders of all experience levels. OANDA and Pepperstone each offer simulated trading through free virtual demo accounts. They both have proprietary platforms developed in-house, Windows-based desktop platforms, and web-based trading options for convenient access. Moreover, for those interested in copy trading, both brokers have suitable offerings. OANDA and Pepperstone also support the widely-used MetaTrader 4 and MetaTrader 5 platforms, although only Pepperstone supports DupliTrade, giving it a slight edge with this additional option.
Both brokers allow for trading directly from stock charts, catering to those who prefer instant execution from their analysis grid. In terms of charting tools, OANDA provides an impressive 431 drawing tools compared to Pepperstone's 30. When it comes to watchlists, Pepperstone offers one additional column over OANDA. Although both brokers received a four-star rating for their trading platforms and tools, OANDA is ranked slightly higher at #16 compared to Pepperstone's #22 by ForexBrokers.com. Whether you prioritize charting tools or additional training features like DupliTrade might influence your choice between these two solid brokers.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| 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 | No | Yes |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 81 | 15 |
| Charting - Drawing Tools (Total) | 431 | 30 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both OANDA and Pepperstone provide mobile trading solutions for iPhone and Android devices, offering tools that cater to traders who need to stay connected on the go. Both platforms allow users to receive real-time stock or forex price alerts and have the capability to draw trendlines and view multiple time frames on charts. Each offers 30 technical studies for charting functionality, and both apps preserve any drawings made on stock or forex charts automatically. Real-time quotes and the ability to create watchlists are also part of their features.
Nonetheless, there are some distinct differences between the two. While both platforms support creating watchlists, only Pepperstone ensures watchlist symbol syncing between the mobile app and a client’s online account, giving it a slight edge in synchronization. Despite this, OANDA stands out with a higher user rating, scoring 5 stars compared to Pepperstone's 4 stars, and ranks 7th out of 62 brokers for mobile trading apps on ForexBrokers.com, clearly outperforming Pepperstone, which is ranked 21st. The choice between the two may ultimately depend on the importance of specific features and ratings to a trader.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of OANDA and Pepperstone, both brokers provide daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. They also offer technical analysis tools from Autochartist, along with sentiment-based trading tools to assess the long or short positioning on currency pairs. However, neither provides research tools from Trading Central or Acuity Trading, nor do they feature market research from TipRanks.
OANDA and Pepperstone both include an economic calendar to keep traders informed on significant global economic events. Despite their similarities, OANDA edges out Pepperstone in research ratings, earning a perfect five-star score versus Pepperstone’s 4.5-star rating. Additionally, OANDA is ranked 5th among 62 brokers by ForexBrokers.com for their research capabilities, while Pepperstone is positioned at 12th. This suggests that while both brokers offer a comprehensive range of market research tools, OANDA maintains a slight advantage in the quality of its research offerings.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| 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 the educational resources available for beginner traders, both OANDA and Pepperstone stand out by offering comprehensive tools to support learning. OANDA provides an impressive range of over 10 educational pieces such as articles, videos, and webinars focused on forex and CFDs, as well as over 10 beginner educational videos specifically aimed at newcomers. In addition, OANDA hosts monthly online webinars, which are recorded and made accessible in a searchable archive. For traders looking to enhance their vocabulary, OANDA includes an investor dictionary featuring over 50 essential terms, helping users develop a solid foundation in trading terminology.
Pepperstone similarly ensures well-rounded educational support with a diverse collection of more than 10 educational articles, videos, and webinars centered on forex and CFDs, alongside a specialized series of over 10 beginner-friendly videos. Monthly webinars are conducted with recordings available in a searchable archive, allowing new traders to revisit materials at their convenience. Additionally, Pepperstone offers an extensive investor dictionary with over 50 terms. Though both firms provide excellent resources, OANDA edges ahead with a 5-star rating for education compared to Pepperstone's 4.5 stars, despite Pepperstone's slightly higher rank of #18 compared to OANDA's #22 out of 62 brokers in the education category by ForexBrokers.com.
| Feature |
OANDA
|
Pepperstone
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 OANDA is better than Pepperstone. OANDA finished with an overall rank of #12, while Pepperstone finished with an overall rank of #16.
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
| Feature |
OANDA
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Pepperstone
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 95 |
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OANDA allows users to purchase both actual delivered cryptocurrencies and cryptocurrency derivatives, whereas Pepperstone offers only cryptocurrency derivatives and does not provide the ability to buy delivered cryptocurrencies.
Both OANDA and Pepperstone provide a comprehensive range of deposit and withdrawal options, including ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, ensuring flexible and convenient transaction methods for their users.
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 | OANDA | Pepperstone | |
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| Trust Score | 93 | 95 | |
| Winner | check_circle | ||
| Review | OANDA Review | Pepperstone Review |
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| Regulation | OANDA | Pepperstone | |
|---|---|---|---|
| Trust Score | 93 | 95 | |
| Year Founded | 1996 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 3 | |
| Tier-2 Licenses | 0 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | OANDA | Pepperstone | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | OANDA | Pepperstone | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | Yes | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | OANDA | Pepperstone | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 1726 | |
| Forex Pairs (Total) | 68 | 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) | Yes | 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 | OANDA | Pepperstone | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | 1.00 | |
| All-in Cost EUR/USD - Active | 1.61 | 0.70 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | Pepperstone | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| 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 | Yes |
| Trading Platforms | OANDA | Pepperstone | |
|---|---|---|---|
| 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 | No | Yes | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| Trading Tools | OANDA | Pepperstone | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 81 | 15 | |
| Charting - Drawing Tools (Total) | 431 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | Pepperstone | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | OANDA | Pepperstone | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| 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 | OANDA | Pepperstone | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | OANDA | Pepperstone | |
|---|---|---|---|
| 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 | OANDA Review | Pepperstone Review |
| Overall | OANDA | Pepperstone | |
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| Trust Score | 93 | 95 | |
| Winner | check_circle | ||
| Review | OANDA Review | Pepperstone Review |
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