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Pepperstone vs OANDA 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between Pepperstone and OANDA? 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 OANDA.

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.
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Overall RatingPepperstoneOANDAFOREX.com
Overall Rating8.4 / 108.4 / 109.3 / 10
Account TypePepperstoneOANDAFOREX.com
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountYesYesYes
Copy TradingPepperstoneOANDAFOREX.com
Social Trading / Copy TradingYesYesNo
DupliTradeYesNoNo
ZuluTradeNoYesNo
CryptocurrencyPepperstoneOANDAFOREX.com
Cryptocurrency (Physical)NoYesNo
Cryptocurrency (CFD)YesYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)PepperstoneOANDAFOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)PepperstoneOANDAFOREX.com
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsPepperstoneOANDAFOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingYesYesNo
Social Trading / Copy TradingYesYesNo
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsYesYesYes
ETFYesNoYes
U.S. Stocks (CFD)YesNoYes
Trading PlatformsPepperstoneOANDAFOREX.com
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformNoYesYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)YesYesYes
Regulatory LicensesPepperstoneOANDAFOREX.com
Tier-1 Licenses264
ASIC Authorised (Australia)YesYesNo
IIROC Authorised (Canada)NoYesYes
FCA Authorised (U.K.)YesYesYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)NoYesNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)NoYesYes
Tier-2 Licenses202
Tier-3 Licenses111
Research, EducationPepperstoneOANDAFOREX.com
Trading Central (Recognia)NoNoYes
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryYesYesYes
AutochartistYesYesNo
Investor Dictionary (Glossary)YesYesYes
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)YesYesNo
Trading CostsPepperstoneOANDAFOREX.com
Minimum Initial Deposit$200$0$100
Average Spread EUR/USD - Standard0.77 (September 2022)1.26 (5/22-5/27/22)1.0 (July 2022)
All-in Cost EUR/USD - Active0.87 (September 2022)1.26 (5/22-5/27/22)1.0 (July 2022)
Active Trader or VIP DiscountsYesYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)YesYesYes
Trading ToolsPepperstoneOANDAFOREX.com
Watchlists - Total Fields7620
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)1581203
Mobile Charting - Indicators / Studies303388
Trust FactorsPepperstoneOANDAFOREX.com
Year Founded201019961999
Publicly Traded (Listed)NoNoYes
BankNoNoNo
Authorised in European UnionYesYesYes
Trust Score939299
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Pepperstone vs OANDA 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 OANDA.

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 OANDA?

OANDA has a trust score of 92, giving it a "Highly 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 OANDA a good broker?

OANDA is a long-standing broker that is highly regulated and trusted across the world by forex and CFD traders. OANDA has strong market research, and offers connectivity to numerous platforms and third-party plugins (including integrated charts from TradingView). The only downside with using OANDA is its comparatively small range of markets and industry-average spreads.

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. Pepperstone is ASIC Authorised (Australia) and FCA Authorised (U.K.), while OANDA is ASIC Authorised (Australia), IIROC Authorised (Canada), FSA Authorised (Japan), MAS Authorised (Singapore), FCA Authorised (U.K.) and CFTC Registered (USA)., neither have SFC Authorised (Hong Kong), CBI Authorised (Ireland), FMA Authorised (New Zealand) and FINMA Authorised (Switzerland)

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 OANDA is none., neither have CBRC Authorised (China), SEBI 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 OANDA is FSC Authorised (British Virgin Islands)., neither have IFSC Authorised (Belize), BMA Authorised (Bermuda), 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 OANDA supports a Proprietary Platform, Desktop Platform (Windows) and ZuluTrade.

Does Pepperstone offer MetaTrader? Does OANDA offer MetaTrader?

Both Pepperstone and OANDA 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 OANDA differ in terms of minimum deposit? What about average spreads and funding options?

Pepperstone requires a minimum deposit of $200, while OANDA requires a minimum deposit of $0. From our testing we found Pepperstone offers spreads of 0.77 (September 2022), while OANDA offers spreads of 1.26 (5/22-5/27/22). Both Pepperstone and OANDA offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for deposits.

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

Pepperstone offers a more diverse selection of investment options than OANDA allowing you to trade Forex Trading (Spot 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 124 from OANDA.

Can I trade cryptocurrency with Pepperstone or OANDA?

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 OANDA allow you to trade physical cryptocurrencies.

Who offers more research tools, Pepperstone or OANDA?

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 OANDA has the tools listed here: Autochartist, Daily Market Commentary, Forex News (Top-Tier Sources) and Social Trading / Copy Trading., neither have Trading Central (Recognia)

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