Written by ForexBrokers.com
In this head to head comparison of XM Group 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.
XM Group (founded 2009) and Pepperstone (founded 2010) are online brokers that are not publicly traded and are not banks. As rated by ForexBrokers.com, XM Group holds a Trust Score of 93/99 and Pepperstone scores 94/99. On this scale, 90–99 is highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and below 59 not trusted.
For regulation, XM Group lists 4 Tier-1 licenses and 3 Tier-2 licenses, while Pepperstone holds 3 Tier-1 and 2 Tier-2 licenses. Tier-1 licenses are considered highly trusted and Tier-2 trusted by ForexBrokers.com. Both brokers sit in the highly trusted range, with Pepperstone edging ahead on Trust Score and XM Group showing a wider set of licenses.
| Feature |
XM Group
|
Pepperstone
|
|---|---|---|
| Year Founded | 2009 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 3 |
| Tier-2 Licenses | 3 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
When it comes to commissions and fees, Pepperstone comes out ahead of XM Group. XM Group is rated 3.5 out of 5 stars and ranks #34 out of 36 brokers for commissions and fees, with its standard account carrying expensive spreads and no published average spread for the commission-based XM Zero account. That makes it harder for traders to see the true cost up front, especially if they are comparing pricing across brokers.
Pepperstone is rated 5 out of 5 stars and ranks #6 out of 36, and its pricing is generally more competitive for active traders. Its Razor account uses commission-based pricing and, as of July 2024, showed an average EUR/USD spread of 0.10 pips, or about 0.80 pips all in when commission is included. Pepperstone’s Standard account is commission-free but less attractive, with a listed average EUR/USD spread of 1.1 pips, while its Active Trader program can reduce costs further for higher-volume clients.
In simple terms, Pepperstone offers better value overall, especially for frequent traders who can benefit from lower spreads or rebates. XM Group’s fees are less transparent and its standard pricing is less competitive, which is why Pepperstone is the stronger pick on commissions and fees.
| Feature |
XM Group
|
Pepperstone
|
|---|---|---|
| Minimum Deposit | $5 | $0 |
| Average spread (EUR/USD) - Standard account | 2 | 1.1 |
| All-in Cost EUR/USD - Active | N/A | 0.8 |
| Non-wire bank transfer | No | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to range of investments, XM Group offers a slightly wider mix than Pepperstone. XM Group provides 1,429 tradeable symbols and 55 forex pairs, while Pepperstone lists 1,726 tradeable symbols and 65 forex pairs, giving Pepperstone the edge in forex and overall product count. Both brokers support forex trading through CFDs, offer copy trading, and let clients trade cryptocurrency CFDs, but neither allows the direct purchase of actual cryptocurrency.
XM Group stands out for share investing, since it offers exchange-traded securities on both U.S. and international exchanges, such as Apple and Vodafone shares. Pepperstone does not offer this type of stock trading. Based on ForexBrokers.com, XM Group is rated 4.5 out of 5 for Range of Investments and ranks #19 out of 36 brokers, while Pepperstone is rated 4 out of 5 and ranks #23 out of 36.
| Feature |
XM Group
|
Pepperstone
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1429 | 1726 |
| Forex Pairs (Total) | 55 | 65 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | Yes |
| 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.
XM Group and Pepperstone both give traders a solid set of platform choices, including free demo accounts for practice, web trading, Windows desktop downloads, MetaTrader 4, MetaTrader 5, and copy trading. Each also lets you place trades straight from a chart, which can make it easier to react quickly while watching price moves. For everyday use, the two brokers are closely matched on the main trading tools most beginners and active traders look for.
The key difference is that Pepperstone also offers its own in-house platform, while XM Group does not. Even so, both brokers are rated 4 out of 5 stars for Trading Platforms and Tools. In ForexBrokers.com’s ranking out of 36 brokers, Pepperstone sits higher at #21, compared with XM Group at #27, which may matter for traders who want a provider with a slightly stronger overall platform setup.
| Feature |
XM Group
|
Pepperstone
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 30 | 15 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
XM Group and Pepperstone both give mobile traders a familiar and easy-to-use experience, with iPhone and Android apps, price alerts, watchlist syncing, and 30 technical studies for chart analysis. Each app also lets users draw trendlines on charts, and both brokers earn the same 4-star rating for mobile trading apps. In day-to-day use, they are closely matched for core mobile features, making either one a solid choice for trading on the go.
The main difference is that Pepperstone’s mobile app auto-saves chart drawings, while XM Group’s does not. Pepperstone also ranks higher with ForexBrokers.com in the mobile trading apps category, placing #19 out of 36 brokers compared with XM Group at #26. For traders who want a bit more convenience in chart marking and a stronger third-party ranking, Pepperstone has the edge, though XM Group still offers the essential tools most mobile traders need.
| Feature |
XM Group
|
Pepperstone
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | No | Yes |
Dive deeper: Best Forex Trading Apps.
XM Group and Pepperstone both give traders plenty of useful market research tools. Each offers daily market commentary, forex news from major sources like Bloomberg, Reuters, and Dow Jones, a sentiment tool that shows long and short positions, and an economic calendar with key global events. Neither broker includes TipRanks or Acuity Trading research tools.
The main difference is in their extra research features. XM Group includes Trading Central tools, while Pepperstone offers Autochartist instead. That wider mix helps explain XM Group’s higher research score of 5 stars and its #8 ranking out of 36 brokers, compared with Pepperstone’s 4.5 stars and #13 ranking.
| Feature |
XM Group
|
Pepperstone
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
XM Group and Pepperstone both give beginners plenty of learning support, including forex and CFD education with at least 10 relevant educational pieces, plus monthly online webinars and a strong library of beginner and advanced videos. This means new traders can find step-by-step lessons, live teaching sessions, and more detailed content as they grow their skills. In this area, both brokers cover the basics well and offer useful material for traders at different experience levels.
That said, XM Group stands out as the stronger choice for education overall. XM Group is rated 5 stars for Education and ranks #5 out of 36 brokers at ForexBrokers.com, while Pepperstone is rated 4.5 stars and ranks #15. For beginners who want the most highly rated learning experience, XM Group has the edge, even though Pepperstone also offers a solid range of educational tools.
| Feature |
XM Group
|
Pepperstone
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that XM Group is better than Pepperstone. XM Group finished with an overall rank of #16, while Pepperstone finished with an overall rank of #17.
XM Group is a MetaTrader-only broker that offers a strong selection of high-quality educational content and market research.
| Feature |
XM Group
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Pepperstone
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| Overall Rating |
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| Trust Score | 93 | 94 |
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XM Group vs Pepperstone: neither broker supports purchasing actual (delivered) cryptocurrencies, but both offer cryptocurrency trading via CFDs.
Comparing online brokers’ deposit and withdrawal options, Pepperstone supports ACH/SEPA transfers, PayPal, and bank wires but not Skrill, while XM Group supports Skrill and bank wires but not ACH/SEPA or PayPal (Visa/Mastercard availability not specified for either).
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 | XM Group | Pepperstone | |
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| Trust Score | 93 | 94 | |
| Winner | check_circle | ||
| Review | XM Group Review | Pepperstone Review |
| Broker Screenshots | XM Group | Pepperstone | |
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| Regulation | XM Group | Pepperstone | |
|---|---|---|---|
| Trust Score | 93 | 94 | |
| Year Founded | 2009 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 3 | |
| Tier-2 Licenses | 3 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | XM Group | Pepperstone | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| 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) | No | 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) | XM Group | Pepperstone | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | Yes | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | XM Group | Pepperstone | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1429 | 1726 | |
| Forex Pairs (Total) | 55 | 65 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | Yes | |
| 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 | XM Group | Pepperstone | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 2 | 1.1 | |
| All-in Cost EUR/USD - Active | N/A | 0.8 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | XM Group | Pepperstone | |
|---|---|---|---|
| Minimum Deposit | $5 | $0 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | Yes |
| Trading Platforms | XM Group | Pepperstone | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | Yes |
| Trading Tools | XM Group | Pepperstone | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | XM Group | Pepperstone | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | No | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | XM Group | Pepperstone | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central | Yes | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | XM Group | Pepperstone | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | XM Group | Pepperstone | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | XM Group Review | Pepperstone Review |
| Overall | XM Group | Pepperstone | |
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| Trust Score | 93 | 94 | |
| Winner | check_circle | ||
| Review | XM Group Review | Pepperstone Review |
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