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Pepperstone vs FXOpen 2022

BrokerNotes.co

Written by BrokerNotes.co

Last updated August 30, 2022
Published April 26, 2022

Trying to decide between Pepperstone and FXOpen? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, Pepperstone ranks more highly than FXOpen.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% 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.
Select Brokersexpand_moreclose
Overall Rating expand_moreexpand_less Pepperstone FXOpen FOREX.com
Overall Rating 8 / 10 7 / 10 8.7 / 10
Account Type expand_moreexpand_less Pepperstone FXOpen FOREX.com
Standard Account Yes Yes Yes
Mini Account Yes Yes Yes
Micro Account Yes Yes Yes
Islamic Account Yes Yes Yes
Copy Trading expand_moreexpand_less Pepperstone FXOpen FOREX.com
Social Trading / Copy Trading Yes Yes No
DupliTrade Yes No No
ZuluTrade No Yes No
Cryptocurrency expand_moreexpand_less Pepperstone FXOpen FOREX.com
Cryptocurrency (Physical) No No No
Cryptocurrency (CFD) Yes Yes Yes
Bitcoin Yes Yes Yes
ethereum Yes Yes Yes
Forex Trading (Spot or CFDs) expand_moreexpand_less Pepperstone FXOpen FOREX.com
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Indices (Index CFDs) expand_moreexpand_less Pepperstone FXOpen FOREX.com
DAX Yes Yes Yes
Dow Jones Yes Yes Yes
FTSE Yes Yes Yes
NASDAQ 100 Yes Yes Yes
Nikkei Yes Yes Yes
SP 500 Yes Yes Yes
Investments expand_moreexpand_less Pepperstone FXOpen FOREX.com
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Spread Betting Yes No No
Social Trading / Copy Trading Yes Yes No
Metals Yes Yes Yes
Energies Yes Yes Yes
Agriculturals Yes No Yes
ETF Yes Yes Yes
U.S. Stocks (CFD) Yes Yes Yes
Trading Platforms expand_moreexpand_less Pepperstone FXOpen FOREX.com
Apple iOS App Yes Yes Yes
Android App Yes Yes Yes
Proprietary Platform No No Yes
Desktop Platform (Windows) Yes Yes Yes
Web Platform Yes Yes Yes
MetaTrader 4 (MT4) Yes Yes Yes
MetaTrader 5 (MT5) Yes Yes Yes
Regulatory Licenses expand_moreexpand_less Pepperstone FXOpen FOREX.com
Tier-1 Licenses 2 2 4
ASIC Authorised (Australia) Yes Yes No
IIROC Authorised (Canada) No No Yes
FCA Authorised (U.K.) Yes Yes Yes
SFC Authorised (Hong Kong) No No No
MAS Authorised (Singapore) No No No
FINMA Authorised (Switzerland) No No No
CFTC Registered (USA) No No Yes
Tier-2 Licenses 2 1 2
Tier-3 Licenses 1 0 1
Research, Education expand_moreexpand_less Pepperstone FXOpen FOREX.com
Trading Central (Recognia) No No Yes
Forex News (Top-Tier Sources) Yes Yes Yes
Daily Market Commentary Yes Yes Yes
Autochartist Yes No No
Investor Dictionary (Glossary) Yes Yes Yes
Videos - Beginner Trading Videos Yes No Yes
Client Webinars (Archived) Yes No No
Trading Costs expand_moreexpand_less Pepperstone FXOpen FOREX.com
Minimum Initial Deposit $200 $100 $100
Average Spread EUR/USD - Standard 0.77 (November 2021) N/A 1.1 (US August 2021)
All-in Cost EUR/USD - Active 0.87 (November 2021) N/A 1.1 (US August 2021)
Active Trader or VIP Discounts Yes Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes Yes
PayPal (Deposit/Withdraw) Yes No Yes
Trading Tools expand_moreexpand_less Pepperstone FXOpen FOREX.com
Watchlists - Total Fields 7 7 18
Mobile Watchlist Yes Yes Yes
Charting - Indicators / Studies (Total) 15 30 139
Mobile Charting - Indicators / Studies 30 30 88
Trust Factors expand_moreexpand_less Pepperstone FXOpen FOREX.com
Year Founded 2010 2003 1999
Publicly Traded (Listed) No No Yes
Bank No No No
Authorised in European Union Yes Yes Yes
Trust Score 93 80 99
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Pepperstone vs FXOpen Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare Pepperstone vs FXOpen.

Can I trust Pepperstone?

Pepperstone has a trust score of 93, giving it a "Highly Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.

Can I trust FXOpen?

FXOpen has a trust score of 80, giving it a "Trusted" trust label.

Is Pepperstone a good broker?

Pepperstone offers numerous trading platforms (including for social copy trading) and tools for algorithmic traders, including the full MetaTrader suite. Traders gain access to high-quality research and an above-average range of markets.

Is FXOpen a good broker?

FXOpen is a plain vanilla MetaTrader broker that also offers the TickTrader platform. With less than 50 markets available to trade, and a limited selection of educational materials, FXOpen simply can't compete with the best forex brokers.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. both Pepperstone and FXOpen are ASIC Authorised (Australia) and FCA Authorised (U.K.)., neither have IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland) and CFTC Registered (USA)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, Pepperstone is CySEC Authorised (Cyprus) and DFSA / Central Bank Authorised (UAE), while FXOpen is CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), NSE Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa) and SEC Authorised (Thailand). When comparing tier-3 licenses Pepperstone is SCB Authorised (Bahamas), while FXOpen is none., neither have IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms Pepperstone supports a Desktop Platform (Windows), cTrader and DupliTrade, whereas FXOpen supports a Desktop Platform (Windows) and ZuluTrade., neither have Proprietary Platform

Does Pepperstone offer MetaTrader? Does FXOpen offer MetaTrader?

Both Pepperstone and FXOpen offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.

How do Pepperstone and FXOpen differ in terms of minimum deposit? What about average spreads and funding options?

Pepperstone requires a minimum deposit of $200, while FXOpen requires a minimum deposit of $100. From our testing we found Pepperstone offers spreads of 0.77 (November 2021), while FXOpen offers spreads of N/A. Pepperstone supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for popular funding options, where FXOpen supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, Pepperstone or FXOpen?

Pepperstone offers a more diverse selection of investment options than FXOpen allowing you to trade Forex Trading, Trading - Forex or CFDs, Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, Pepperstone has 1200, compared to 87 from FXOpen.

Can I trade cryptocurrency with Pepperstone or FXOpen?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither Pepperstone nor FXOpen allow you to trade physical cryptocurrencies.

Who offers more research tools, Pepperstone or FXOpen?

In terms of research and research tools Pepperstone gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. In comparison FXOpen has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading., neither have Trading Central (Recognia)




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