Pepperstone vs XM - Fees Review included
Which broker is better Pepperstone or XM? Our expert assessment conducted according to TU’s own methodology showed that Pepperstone is one of the top brokers in the financial market with the TU Overall Score of 7.17 out of 10. XM is one of the top brokers in the financial market with the TU Overall Score of 9 out of 10. Find out more about TU Overall Score.
| Feature | Pepperstone | XM |
|---|---|---|
Overall |
4.4 |
4.5 |
4.7 |
4.9 |
|
4.7 |
4.3 |
|
4.4 |
4.4 |
|
Investment Instruments |
4.4 |
4.4 |
Platforms and Charting Tools |
4.8 |
4.6 |
Deposit and Withdrawal |
4.5 |
4.7 |
Research |
3.9 |
5 |
Education |
4.1 |
5 |
Support |
4.3 |
4.6 |
Bonuses |
3.2 |
5 |
|
|
|
Pepperstone vs XM: Pros and Cons
Pepperstone (Pepperstone.com) was founded in 2010 in Melbourne, Australia, by professional traders who were not satisfied with the quality of services provided by most brokers. The founders decided to avoid many of the disadvantages of competitors, including high commissions, delayed execution of orders, etc. They also focused on improving the technical component. The company has set itself the goal of changing the “rules of the game” and setting the bar high for online trading. Today, the broker provides clients all over the world with some of the best technological solutions and favorable trading conditions. The company also provides professional tools that help not only master trading as a type of activity, but also significantly increase the efficiency of trades. Pepperstone is regulated by ASIC (Australian Securities and Investments Commission), FCA (UK Financial Conduct Authority), BaFin, DFSA, CMA, SCB, CySec. Clients' assets are held in aggregated accounts with major banks. These facts confirm the reliability of the company and guarantee the safety of the client's capital.
XM Broker was founded in 2009. Initially, the company covered a narrow niche of the trader market, specializing exclusively in intermediary services at the foreign exchange market. It has since experienced considerable success and growth. XM is reliable and safe. It has diversified and is now an international broker operating in almost 190 countries around the world. For over a decade XM Broker has attracted 3,5 million traders, offering unique technological solutions. The company is now being recognised as the Fastest Growing Broker, the Best Forex Service Provider and various other contributing achievements. The team at XM Broker is committed to continually working hard to improve the quality of the services provided every year as they are committed to continually providing the best service to their traders.
| Pepperstone | XM | |
|---|---|---|
| Overall Pros | Fast order execution - 30 ms on average | Well-Regulated broker |
| Low trading fees | Strong research tools | |
| Strong luqidity | Strong education | |
| Advanced ECN account | Big Forex bonuses | |
| Access to TradingView's advanced charting tools | Free deposit and withdrawal | |
| Strong regulation | Instant withdrawal | |
| 1000+ trading assets | ||
| Overall Cons | The company offer Crypto CFDs outside Africa and UK | High spreads |
Pepperstone vs XM: Safety and Regulation
| Pepperstone | XM | |
|---|---|---|
Max. Regulation Level |
Tier-1 |
Tier-1 |
Investor protection |
£85,000 €20,000 €100,000 (DE) |
£85,000 €20,000 |
FCA UK Regulation |
Yes |
No |
FINRA (U.S) |
No |
No |
BaFin (Germany) |
Yes |
No |
ASIC (Australia) |
Yes |
No |
CFTC (U.S) |
No |
No |
MAS |
No |
No |
FSCA SA |
No |
Yes |
BVI FSC |
No |
No |
VFSC |
No |
No |
FSA (Seychelles) |
No |
Yes |
Pepperstone vs XM: Trading Conditions
| Trading Conditions | Pepperstone | XM |
|---|---|---|
Minimum Deposit |
$0 |
$5 |
Trading Platforms |
MT4, MobileTrading, WebTrader, cTrader, TradingView |
MT4, MT5 |
Max Leverage (Futures) |
1-500 |
1:888, 1:30 (for EU, UK clients) |
Supported Markets |
Forex, CFDs on Stocks, Commodities, Metals and ETFs, Shares, Crypto |
Forex, CFDs on indices, commodities, crypto, metals, stocks |
Trading assets |
1200+ |
1300+ |
Trading Accounts |
Razor, Standard |
Micro, Standard, Ultra Low, Zero |
Base Account Currencies |
AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD |
USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR |
Pepperstone vs XM: Fees
| Pepperstone | XM | |
|---|---|---|
Standard acc. spread EUR/USD, min pips |
0,5 |
0,7 |
Standard acc. spread EUR/USD, max pips |
1,5 |
1,2 |
ECN Commission |
3 |
3,5 |
ECN Spread EUR/USD |
0,1 |
0,2 |
Deposit fee, % |
No |
No |
Withdrawal fee, % |
No |
No |
Withdrawal fee, USD |
No |
No |
Inactivity fee, $ |
No |
10 |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Pepperstone vs XM: Trading Assets
| Asset Name | Pepperstone | XM |
|---|---|---|
Overall |
1200+ |
1300+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
No |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes (CFD) |
Yes (CFD) |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Pepperstone or XM: Investment Programs
| Asset Name | Pepperstone | XM |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: XM or Pepperstone
| Pepperstone | XM | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
Yes |
No |
Appropriate platform |
No |
No |
Others |
TradingView |
No |
|
|
|
Pepperstone vs XM: Deposit and Withdrawal Methods
| Pepperstone | XM | |
|---|---|---|
Bank Wire |
Yes |
Yes |
Bank Card |
Yes |
Yes |
Neteller |
Yes |
Yes |
BTC |
No |
No |
Wise |
No |
No |
Payoneer |
No |
No |
USDT |
Yes |
Yes |
Pepperstone vs XM: Research
| Research Type | Pepperstone | XM |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
Pepperstone vs XM: Education
| Education Type | Pepperstone | XM |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
Yes |
XM vs Pepperstone: Support
| Support Features | Pepperstone | XM |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Pepperstone vs XM: Forex Bonuses and Promo
| Promo | Pepperstone | XM |
|---|---|---|
Forex Bonus |
No |
up to $5000 forex bonus, up to 100% forex deposit bonus |
Affiliate Program |
For each attracted client under the terms of the program, the affiliate has the opportunity to receive up to USD 400 |
Multi tier affiliate program |
Other Promos |
Active trader program - Members of the program are paid a daily rebate, which allows them to offset part of their costs. The amount of the rebate depends on the number of trades performed by the trader per month. The rebate for one currency lot is 15%. What’s more, active traders get priority support and free VPS hosting. |
|
|
|
|
Top 5 Reviews on XM
-
Comment
I've been trading with XM Group for just over a year. I chose this broker based on reviews and the fact that it holds multiple licenses — ASIC, CySEC, FSC, and DFSA. I really liked the low minimum deposit of just $5, which meant I didn’t have to risk a large amount. I started with a micro account where 1 lot equals 1,000 units — perfect for beginners. I’m satisfied with the spreads: on EUR/USD they start from 0.8 pips, and there are no fees for deposits or withdrawals, which is quite rare. Over the year, I’ve withdrawn about $900 in profit — the funds arrived quickly, with a maximum wait of 2 days.
-
Comment
XM Group is a great choice for active trading thanks to its transparent commission policy and no requotes. Over 5 million traders have chosen this broker — an impressive number. I made about 70 trades in a month, all executed in under a second with no requotes. MQL5 trading signals can be integrated directly into the terminal, making it easy to test ideas from other traders. A $5 minimum deposit and a wide range of assets make XM Group a versatile option for both beginners and professionals.
-
Comment
I liked that XM Group operates under licenses from four regulators at once: ASIC, CySEC, FSC, and DFSA. This inspires confidence. Fast execution was important to me — the broker claims 100% order execution, and in practice trades close at the prices I see in the terminal. Spreads are minimal — for major pairs they stay around 0.8–1 pip. Support is always available on weekends and helped me with account verification questions.
-
Comment
I chose XM Group for their professional approach to order execution. They have a stop-out set at 20%, which helps keep risks under control. I use a micro account with a 0.01 lot size, making it convenient to test scalping strategies on real quotes. Withdrawals are processed within the day, and I’ve never experienced delays. The minimum deposit of $5 is an ideal start for beginners.
-
Comment
One of XM Group’s strengths is its wide range of instruments. The platform offers over 1,000 assets, including more than 55 currency pairs, metals, indices, commodities, and stocks. Personally, I often use MetaTrader 5 and appreciate the depth of market and fast price feeds. XM Group charges no commissions for deposits and withdrawals, and all payments are processed quickly. Customer support responds to inquiries during business hours — that’s another definite plus.
Top 5 Reviews on Pepperstone
-
Comment
Pepperstone offers a combination of transparent trading conditions, fast order execution, and a wide range of instruments. Over the years, the broker has proven to be a reliable partner: its registration with ASIC, FCA, CySEC, and other regulators reflects the trust placed in the company. A $0 minimum deposit makes it accessible for beginners. A nice bonus is support for over 30 languages and 24/5 customer service. Thanks to its variety of account types, negative balance protection, and passive income opportunities through copy trading, Pepperstone has become my go-to choice for long-term trading.
-
Comment
Pepperstone stands out with a free 60-day demo account and two types of live accounts: Razor and Standard. The absence of a minimum deposit, a wide range of base currencies (9 options), and support for 16 trading platforms are definite advantages. Thanks to its partnership programs, the broker is appealing not only to traders but also to those building their own communities — with three partnership models, including one for fund managers. Order execution averages 30 ms, making it suitable for all strategies, including manual and automated trading.
-
Comment
I opened a Razor account with Pepperstone — the actual commission is low, and spreads start from zero. Trading CFDs on cryptocurrencies, commodities, and indices is a big plus. The minimum trade size is 0.01 lots, which is convenient for testing new strategies. I was pleased with the instant withdrawals via Visa, Mastercard, PayPal, Neteller, Skrill, and other popular systems. The platform allows flexible risk management with Margin Call/Stop Out levels at 90%/20%. Additionally, the broker partners with Barclays and HSBC as liquidity providers, which adds to its reliability.
-
Comment
I have been trading with Pepperstone for over a year and especially appreciate their execution speed — 99.35% of orders are filled in less than 1 second. As an active trader, the availability of MetaTrader 4/5, cTrader, and TradingView is important to me, as well as the absence of requotes. Customer support is available 24/7, and all my issues were resolved promptly. I was pleasantly surprised by the affiliate program — you can earn up to $750 per referred client, and the broker also pays up to 55% under the agency scheme. Thanks to instant execution and spreads starting from 0.0 points, Pepperstone is excellent for news trading.
-
Comment
I chose Pepperstone because of its transparent trading conditions and a minimum deposit of $0. The platform offers over 1,200 trading instruments, including currencies, stocks, indices, and commodities. Leverage up to 400:1 for retail clients and 500:1 for professionals provides plenty of room for different strategies. Spreads start from 0.0 points — a real advantage for scalpers. Order execution takes place within 30 ms, confirmed both in demo mode and on live accounts. Deposits and withdrawals are commission-free, there is a wide range of account currencies (AUD, USD, EUR, JPY, and others), and all funds are protected from negative balance.
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.