Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs Spreadex, 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 Spreadex (founded 1999) are online brokers that are not publicly traded and are not banks. In terms of regulation, Pepperstone holds 3 Tier-1 licenses and 2 Tier-2 licenses, signaling a broader set of top-tier approvals. Spreadex holds 1 Tier-1 license and no Tier-2 licenses.
On ForexBrokers.com’s 99-point Trust Score, Pepperstone scores 94, which is considered highly trusted (90–99), while Spreadex scores 70, categorized as average risk (70–79). If regulatory coverage and independent trust ratings are priorities, Pepperstone has the edge based on these metrics.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Year Founded | 2010 | 1999 |
| 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 | 0 |
Pepperstone is the lower-cost pick for most traders, especially if you use its Razor account or qualify for the Active Trader program. The Razor account uses commission-based pricing and had an average EUR/USD spread of 0.10 pips in July 2024, with an estimated all-in cost of 0.80 pips after commission. Its Standard account is commission-free but pricier overall, with an average EUR/USD spread of 1.1 pips. Pepperstone earns 5 out of 5 stars for commissions and fees and ranks #6 out of 36 brokers in this category.
Spreadex is also competitive, but its pricing is not quite as low as Pepperstone’s best accounts. In January 2024, Spreadex showed an average EUR/USD spread of 0.81 pips, with a minimum spread of 0.6 pips available 60% of the time during the month. It earns 4 out of 5 stars for commissions and fees and ranks #25 out of 36 brokers.
In simple terms, Pepperstone offers better value for active and cost-conscious forex traders, while Spreadex is still reasonably priced but generally comes in higher on fees. If lower trading costs are a top priority, Pepperstone has the edge.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.1 | 0.81 |
| All-in Cost EUR/USD - Active | 0.8 | N/A |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Pepperstone and Spreadex both let you trade forex as CFDs or spot contracts, and both offer cryptocurrency CFDs rather than real crypto you can own. Neither broker gives access to exchange-traded shares on U.S. or international stock exchanges, so you cannot buy actual Apple or Vodafone shares through either platform. Pepperstone does stand out for copy trading, which Spreadex does not offer.
When it comes to choice, Spreadex has the larger overall list of tradeable symbols, with about 10,000 compared with Pepperstone’s 1,726. Pepperstone, however, offers more forex pairs, with 65 versus Spreadex’s 52. In ForexBrokers.com’s Range of Investments ratings, Spreadex comes out ahead with 5 out of 5 stars and a #13 ranking out of 36 brokers, while Pepperstone is rated 4 stars and ranked #23.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 10000 |
| Forex Pairs (Total) | 65 | 52 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| Copy Trading | Yes | No |
| 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 Spreadex both give traders useful platform choices, including free demo accounts, web-based trading, and their own in-house platforms. Both also let you trade straight from a price chart, which can make placing orders quicker and easier. In ratings from ForexBrokers.com, each broker earns 4 out of 5 stars for Trading Platforms and Tools, showing that both offer a solid setup for everyday trading.
That said, Pepperstone has the edge for platform variety and trading tools. It supports Windows desktop trading, copy trading, MetaTrader 4, and MetaTrader 5, while Spreadex does not offer these options. In ForexBrokers.com’s category ranking, Pepperstone sits higher at #21 out of 36 brokers, compared with Spreadex at #34, making Pepperstone the stronger pick for traders who want more platform flexibility.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 15 | 58 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and Spreadex both offer mobile trading apps for iPhone and Android, and each includes price alerts plus the ability to draw trendlines on charts. Both are also rated 4 out of 5 stars for mobile trading apps, so on the surface they appear evenly matched for everyday mobile use. However, Pepperstone has an edge in charting tools, with 30 technical studies available in its mobile app, while Spreadex does not list a comparable number.
Where Pepperstone stands out more clearly is in app convenience and syncing. Its watchlists sync between the mobile app and online account, so updates carry over either way, and its charts automatically save drawings. Spreadex does not offer watchlist syncing and does not auto-save chart drawings in the app. That difference is reflected in ForexBrokers.com rankings as well, with Pepperstone placed #19 out of 36 brokers for Mobile Trading Apps, compared with Spreadex at #33.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
Pepperstone and Spreadex both give traders a solid range of market research tools. Each offers daily market commentary, forex news from major sources such as Bloomberg and Reuters, Autochartist tools, a sentiment tool showing long and short positions, and an economic calendar with key global events. Neither broker includes Trading Central, TipRanks, or Acuity Trading tools, so their research offerings are fairly similar in what they do provide.
Where they differ is in overall research quality and ranking. Pepperstone is rated 4.5 out of 5 for Research and ranks #13 out of 36 brokers on ForexBrokers.com, while Spreadex is rated 4 out of 5 and ranks #27. That makes Pepperstone the stronger choice for traders who want a slightly better research package, although Spreadex still covers the main basics well.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Pepperstone is the stronger choice for beginners looking for learning support. It offers forex and CFD education with at least 10 educational pieces focused on those markets, monthly online client webinars, and both beginner and advanced video lessons in good supply. That breadth helps new traders start with the basics and keep learning as they gain experience. Pepperstone also scores 4.5 out of 5 for Education and ranks #15 out of 36 brokers by ForexBrokers.com, which puts it well ahead of many rivals in this area.
Spreadex does provide beginner trading videos and meets the minimum for that type of content, but it falls short in a few key areas that matter for new traders. It does not offer monthly educational webinars, and it does not have at least 10 advanced educational videos for more experienced users. Its Education rating is 4 out of 5, with a rank of #33 out of 36, so while it can still work for basic learning, Pepperstone offers a wider and more complete education experience overall.
| Feature |
Pepperstone
|
Spreadex
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
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 Spreadex. Pepperstone finished with an overall rank of #17, while Spreadex finished with an overall rank of #32.
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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Spreadex
|
|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 70 |
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Pepperstone vs Spreadex: neither online broker lets you buy actual (delivered) cryptocurrency, but both offer cryptocurrency CFDs for trading.
Pepperstone supports ACH/SEPA transfers, PayPal, and bank wire deposits/withdrawals (but not Skrill), while Spreadex offers bank wires only (no ACH/SEPA, PayPal, or Skrill), with Visa/Mastercard availability not specified for either broker.
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 | Spreadex | |
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| Trust Score | 94 | 70 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | Spreadex Review |
| Broker Screenshots | Pepperstone | Spreadex | |
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| Regulation | Pepperstone | Spreadex | |
|---|---|---|---|
| Trust Score | 94 | 70 | |
| Year Founded | 2010 | 1999 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 0 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | Spreadex | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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 | 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 | Spreadex | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Pepperstone | Spreadex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 10000 | |
| Forex Pairs (Total) | 65 | 52 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| Copy Trading | Yes | No | |
| 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 | Spreadex | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.1 | 0.81 | |
| All-in Cost EUR/USD - Active | 0.8 | N/A | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | Spreadex | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | Pepperstone | Spreadex | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No |
| Trading Tools | Pepperstone | Spreadex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 15 | 58 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | Spreadex | |
|---|---|---|---|
| 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 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Pepperstone | Spreadex | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | Spreadex | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | Pepperstone | Spreadex | |
|---|---|---|---|
| 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 | Spreadex Review |
| Overall | Pepperstone | Spreadex | |
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| Trust Score | 94 | 70 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | Spreadex Review |
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