Written by ForexBrokers.com
In this head to head comparison of Pepperstone vs ThinkMarkets, 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 and ThinkMarkets, both founded in 2010, are respected names in online trading, but there are distinct differences in their regulatory standing. Pepperstone holds a high ForexBrokers.com Trust Score of 95, supported by three highly regarded Tier-1 licenses and two additional Tier-2 licenses. Meanwhile, ThinkMarkets has a slightly lower Trust Score of 92 but surpasses Pepperstone with five Tier-1 licenses, ensuring a sound regulatory foundation.
Neither Pepperstone nor ThinkMarkets is publicly traded or operates as a bank. Both brokers offer a secure trading environment, but ThinkMarkets edges out with a slightly larger number of top-level licenses. Whether you prioritize a higher trust score or a broader regulatory reach, both brokers provide trustworthy platforms for your trading activities.
| Feature |
Pepperstone
|
ThinkMarkets
|
|---|---|---|
| Year Founded | 2010 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 5 |
| Tier-2 Licenses | 2 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 3 |
Pepperstone and ThinkMarkets offer competitive services to their clients, with notable differences in their commission and fee structures. Pepperstone, rated 4.5 stars and ranked 10th out of 62 brokers by ForexBrokers.com for commissions and fees, excels with its Razor account. This account offers low spreads when paired with a commission-based pricing model on platforms like TradingView, MetaTrader, or cTrader. For the EUR/USD pair, Pepperstone reports an average spread of 0.10 pips in its Razor account, which rises to an all-in cost of 0.80 pips with commission. Their Standard account, however, is commission-free but comes with higher spreads, averaging 1.1 pips on the EUR/USD pair, making it less cost-effective compared to the Razor account.
Pepperstone also provides an Active Trader program to benefit high-volume traders. Depending on trade volume and tier, traders can receive a rebate on their spreads. In the UK and EU, professional clients trading at least £20 million per month can get up to a 25% rebate on forex spreads. In Australia, clients need to trade a minimum of 100 lots over three months to access their Active Trader program's Tier One benefits, and those trading over 3001 lots monthly can achieve a 30% spread reduction. In contrast, ThinkMarkets, which holds a 4-star rating and ranks at 48th in the same category, does not offer specific average spread data, which makes a direct comparison more challenging.
In summary, Pepperstone stands out for its low spreads on the Razor account for high-volume traders, coupled with a rebate program that scales with trade volume. ThinkMarkets, while offering competitive services, lacks detailed average spread data for a thorough comparison. Pepperstone's higher rank and rating indicate stronger appeal for traders seeking the most cost-effective commissions and fees.
| Feature |
Pepperstone
|
ThinkMarkets
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 1.00 | 1.1 |
| All-in Cost EUR/USD - Active | 0.70 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| 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 ThinkMarkets both offer forex trading as CFDs or spot contracts, catering to those interested in exploring currency markets. However, when it comes to the overall number of tradeable symbols, ThinkMarkets outshines Pepperstone significantly, with 4000 options compared to Pepperstone's 1726. Conversely, if you're specifically focused on forex pairs, Pepperstone offers a wider variety, featuring 65 pairs against ThinkMarkets’ 46. Neither broker provides direct access to U.S. exchange-traded securities like Apple shares. Still, ThinkMarkets allows access to international exchanges, giving you the option to purchase shares like Vodafone, a feature not available with Pepperstone.
Both brokers support copy trading and offer cryptocurrency derivatives for those interested in digital assets. However, neither facilitates the purchase of actual cryptocurrencies. In terms of investment variety, Pepperstone is rated 4 out of 5 stars, while ThinkMarkets is rated slightly higher at 4.5 stars. According to ForexBrokers.com, within the realm of 62 brokers, Pepperstone ranks at #26, indicating solid investment offerings, while ThinkMarkets ranks at #21, reaffirming its slight edge in the breadth of investments available to traders.
| Feature |
Pepperstone
|
ThinkMarkets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 4000 |
| Forex Pairs (Total) | 65 | 46 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| 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 ThinkMarkets both cater to new and experienced traders by offering a range of accessible trading platforms and tools. Each broker provides a free virtual demo account, allowing users to hone their skills in a risk-free environment. Both Pepperstone and ThinkMarkets have developed their own proprietary platforms, alongside offering popular platforms such as MetaTrader 4 and MetaTrader 5. They support trading on Windows-based desktop and web-based platforms, making it convenient for users to trade from various devices. Additionally, both brokers enable copy trading, yet Pepperstone is unique in offering DupliTrade access, an option not available with ThinkMarkets.
In terms of charting capabilities, Pepperstone excels with 30 drawing tools compared to ThinkMarkets' 15, although both allow trading directly from stock charts. Pepperstone and ThinkMarkets offer comprehensive watch lists, albeit with different complexities, as ThinkMarkets provides more columns for watchlist fields. Users have rated both brokers equally with a four-star ranking for their trading platforms and tools, suggesting satisfaction across the board. However, according to ForexBrokers.com, Pepperstone secures a slightly higher rank at #22 compared to ThinkMarkets at #27 out of 62 brokers, reflecting subtly different market standings.
| Feature |
Pepperstone
|
ThinkMarkets
|
|---|---|---|
| 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 | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 30 |
| Charting - Drawing Tools (Total) | 30 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 15 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and ThinkMarkets both offer well-developed mobile trading apps for iPhone and Android users, catering to stock and forex traders alike. Each platform ensures you stay updated with real-time price alerts, and both provide the ability to draw trendlines and view various timeframes directly on their apps. While Pepperstone excels with watchlist symbol syncing between its mobile app and online account, ThinkMarkets impresses with a more extensive selection of 94 technical studies for charting, compared to Pepperstone’s 30 studies. Both apps allow users to create watchlists with live quotes, keeping the trading experience intuitive and seamless.
In terms of ratings, both apps receive a solid 4 out of 5 stars, reflecting user satisfaction. However, in the ForexBrokers.com ranking of 62 brokers, ThinkMarkets is slightly ahead at #20 compared to Pepperstone at #21. Thus, while each app offers essential features for traders, your choice between Pepperstone and ThinkMarkets might hinge on the importance of technical studies versus the convenience of synced watchlists.
| Feature |
Pepperstone
|
ThinkMarkets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 94 |
| 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 Pepperstone and ThinkMarkets for market research, there are distinct differences that traders might want to consider. Both provide daily market commentary and deliver forex news from premium sources such as Bloomberg and Reuters. They also offer sentiment-based trading tools that reveal the ratio of long or short positions across various instruments. While only Pepperstone incorporates tools from Autochartist for technical analysis, ThinkMarkets differentiates itself by providing research tools from Acuity Trading.
For those looking for economic insights, both brokers include an economic calendar to keep you informed about global events. Despite these similarities, Pepperstone edges ahead with a higher research rating of 4.5 stars compared to ThinkMarkets' 3.5 stars. Furthermore, Pepperstone holds the #12 spot out of 62 brokers in the Research category according to ForexBrokers.com, whereas ThinkMarkets is ranked at #50. This ranking highlights Pepperstone’s stronger emphasis on catering to traders’ research needs.
| Feature |
Pepperstone
|
ThinkMarkets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both Pepperstone and ThinkMarkets have a comprehensive offering. They each provide more than ten educational pieces focused on forex and CFDs, along with monthly webinars to enhance learning. Additionally, both platforms maintain accessible archives of past webinars, allowing newcomers to revisit and understand various concepts at their own pace. Their educational video libraries are also extensive, featuring at least ten videos tailored for beginners and advanced traders alike.
Pepperstone distinguishes itself with a higher education quality, earning a 4.5-star rating, compared to ThinkMarkets, which holds a 3.5-star rating. Pepperstone also offers a detailed investor dictionary, a critical tool with over 50 investing terms. When ranked by ForexBrokers.com, Pepperstone is placed at #18 out of 62 brokers in the Education category, showing its stronger commitment to educational excellence, whereas ThinkMarkets ranks at #52. This comparison highlights Pepperstone as a preferable choice for beginners eager to explore trading fundamentals with well-rounded educational support.
| Feature |
Pepperstone
|
ThinkMarkets
|
|---|---|---|
| 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 Pepperstone is better than ThinkMarkets. Pepperstone finished with an overall rank of #16, while ThinkMarkets finished with an overall rank of #27.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
|
ThinkMarkets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 92 |
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Both Pepperstone and ThinkMarkets do not offer the option to purchase actual cryptocurrencies, but they both provide the ability to trade cryptocurrency derivatives.
Pepperstone stands out with its versatility in deposit and withdrawal options by supporting ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, while ThinkMarkets provides flexibility with Skrill, Visa, Mastercard, and bank wires but lacks support for ACH, SEPA, and PayPal.
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 | ThinkMarkets | |
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| Trust Score | 95 | 92 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
| Broker Screenshots | Pepperstone | ThinkMarkets | |
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| Regulation | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| Trust Score | 95 | 92 | |
| Year Founded | 2010 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 5 | |
| Tier-2 Licenses | 2 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 3 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | Yes | |
| 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 | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 4000 | |
| Forex Pairs (Total) | 65 | 46 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| 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 | ThinkMarkets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | 1.1 | |
| All-in Cost EUR/USD - Active | 0.70 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| 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 | ThinkMarkets | |
|---|---|---|---|
| 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 | Yes | No | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 15 | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Drawing Tools (Total) | 30 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 94 | |
| 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 | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| 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 | Pepperstone | ThinkMarkets | |
|---|---|---|---|
| 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 | ThinkMarkets | |
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| Trust Score | 95 | 92 | |
| Winner | check_circle | ||
| Review | Pepperstone Review |
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