Pepperstone vs UFX 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 UFX.
Can I trust Pepperstone?
Pepperstone has a trust score of 93, giving it a "Highly Trusted" trust label.
- "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 UFX?
UFX has a trust score of 67, giving it a "High Risk" trust label. Here's what each trust score label means:
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 UFX is none of these. Both do not 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 UFX is CySEC Authorised (Cyprus). Both do not 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 UFX is none of these. Both do not 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 UFX supports a Proprietary Platform and Desktop Platform (Windows), whereas Pepperstone supports a Desktop Platform (Windows), cTrader and DupliTrade. Both do not have ZuluTrade.
Does Pepperstone offer MetaTrader? Does UFX offer MetaTrader?
Both Pepperstone and UFX 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 UFX differ in terms of minimum deposit? What about average spreads and funding options?
Pepperstone requires a minimum deposit of $200, while UFX requires a minimum deposit of $100. From our testing we found Pepperstone offers spreads of 0.77 (November 2021), while UFX offers spreads of 3 (Jan 2021). UFX supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for popular funding options, where Pepperstone supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).
Which brokers offers more tradeable asset classes, Pepperstone or UFX?
UFX offers a more diverse selection of investment options than Pepperstone allowing you to trade Forex Trading, Trading - Forex or CFDs, Social Trading / Copy Trading, Metals, Energies, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, Pepperstone has 1200, compared to 619 from UFX.
Can I trade cryptocurrency with Pepperstone or UFX?
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 UFX allow you to trade physical cryptocurrencies.
Who offers more research tools, Pepperstone or UFX?
In terms of research and research tools UFX gives traders the following tools: Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison Pepperstone has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading.