image Pepperstone VISIT PEPPERSTONE image AAAFX VISIT AAAFX image Forex.com VISIT FOREX.COM
About

Pepperstone is regulated by ASIC. Pepperstone have provided Forex trading services since 2010.

AAAFX is regulated by MiFID. AAAFX have provided Fore and CFD trading services since 2008.

Forex.com is regulated by the Financial Conduct Authority. Forex.com have provided Forex, Commodities, Indices trading services since 1999.

Why choose them?
  • Yes Over 8 years in business
  • Yes Segregates clients funds
  • Yes Regulated by ASIC
  • Yes Over 10 years in business
  • Yes
  • Yes
  • Yes Over 19 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
Headquarters Melbourne, Australia Athens, Greece 14 Akti Kondyli Str, Piraeus, 18545 London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting No No No
Social Trading Yes Yes No
MARKETS & INSTRUMENTS
Forex (currency pairs) 70 80
Commodities Offered 0 12
Stocks Offered 0 220
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks No Yes Yes
Penny stocks No No No
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals No Yes Yes
FTSE No Yes Yes
Dow Jones No Yes Yes
Dax Yes Yes Yes
Nikkei No Yes Yes
ETFs No Yes Yes
IPO No Yes Yes
See all instruments

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

See all instruments

Losses can exceed deposits

See all instruments

70% of retail investor accounts lose money when trading CFDs with this provider

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 Yes No No
MT4 Mac Yes No No
WebTrader Yes Yes Yes
Mirror Trader No No No
ZuluTrade Yes Yes No
Sirix No No No
cTrader Yes No No
PAMM No No No
Custom Platforms No No FOREXTrader PRO

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image No No Yes
Available Languages

English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic

English, French, German, Arabic, Chinese, Russian, Spanish, Greek, Hebrew, Italian, and Korean

English, Chinese, and Arabic

See platform & features

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

See platform & features

Losses can exceed deposits

See platform & features

70% of retail investor accounts lose money when trading CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by Pepperstone and AAAFX

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account No Yes No
Standard account Yes Yes Yes
ECN Account Yes No Yes
Islamic account Yes Yes Yes
Zero spread account No No No
VIP account No Yes No
Fixed spreads No No Yes
Variable spreads Yes Yes Yes
See account options

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

See account options

Losses can exceed deposits

See account options

70% of retail investor accounts lose money when trading CFDs with this provider

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes No No
Direct market access Yes Yes Yes
STP broker Yes Yes Yes
Market maker Yes Yes Yes
Min trade 0.01 Lot None Varies
Max trade None None 5 million
Min deposit $200 $300 $50

RISK MANAGEMENT

Stop losses Yes No Yes
Limit orders Yes Yes Yes
One-click trading Yes No Yes
Trailing stops Yes No Yes
Price alerts Yes No Yes
Signal trading Yes No No

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal Yes No No
Neteller Yes Yes No
Skrill Yes No No
Payment processing time Varies 1 business day Varies
Withdrawal processing time Varies 1 business day 1-2 business days
See all funding options

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

See all funding options

Losses can exceed deposits

See all funding options

70% of retail investor accounts lose money when trading CFDs with this provider

DETAILED INFO

Excluded countries BE
Contact email Send Email Send Email Send Email
phone number 61 3 9020 0155 (+30) 213-0176-380 Yes
Live Chat Yes Yes Yes
Website https://pepperstone.com/ https://www.aaafx.com/ http://www.forex.com
Forex Spreads
EUR/USD 0.00 1.00
GBP/USD 1.10 1.00
USD/JPY 1.00 0.90
AUD/USD 1.1 1.2
Cryptocurrency Spreads N/A N/A
View all FX spreads

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

View all FX spreads

Losses can exceed deposits

View all FX spreads

70% of retail investor accounts lose money when trading CFDs with this provider

INDICE SPREADS
Dax 30 1.50 250.0
Nasdaq 100 2.0 130.0
Euro Stoxx 50 2.0 4.0
ASX 200
S&P 500 0.4 50.0
FTSE 100 1.0 150.0
Google N/A N/A
Facebook N/A N/A
View all spreads

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

View all spreads

Losses can exceed deposits

View all spreads

70% of retail investor accounts lose money when trading CFDs with this provider

FEES

Inactivity Fee Yes No No
Commission Yes Yes No
Deposit Fee No Yes No
Withdrawal Fee No Varies No
View All Fees

78% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs

View All Fees

Losses can exceed deposits

View All Fees

70% of retail investor accounts lose money when trading CFDs with this provider

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Last update

All information collected from https://pepperstone.com/. Last updated on 01/07/2019.

All information collected from https://www.aaafx.com/. Last updated on 01/07/2019.

All information collected from http://www.forex.com. Last updated on 01/07/2019.

Company

Pepperstone provide a trading platform for retail and institutional investors looking for a broker that provides fast execution, reliable technology, award winning customer service all at superior competitive pricing.

Pepperstone was founded in 2010 to provide a solution to traders frustrated by slow trade execution, excessive spread and poor customer service from other online brokers. Pepperstone are a perfect choice for traders with spreads start from as low as 0 pips and combined with their use of leading technology platforms including MetaTrader 4 and cTrader.

For more information about trading with Pepperstone, we have put together an indepth Pepperstone review with all the pros and cons about this broker.

AAAFX is an online forex trading service provider. They are regulated by MiFID. To open an account with AAAFX, minimum deposits start from $300 for trading activities.

With AAAFX you can trade Forex, indices, commodities and CFD. If you like to trade on the go, AAAFX have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

AAAFX offer ZuluTrade and the MetaTrader 4 platforms to make your trades and support 15 different languages.

You can see all of AAAFX's spreads here.

FOREX is a market leading broker with over 15 years' experience in the industry serving over 200,000 traders worldwide. As a publically traded company on the NY stock exchange, regulated by multiple regulating bodies including the Financial Conduct Authority in UK, FOREX is a broker you can trust. FOREX offer competitive pricing through its advanced technology and execute your trades fast and at the price you expect or better. Pricing is simple and easy to understand with no complicated commission structures or small print, you know what you will pay. With a commitment to customer support they offer 24 hour support from 9pm Sun through to 9pm Friday.

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Pepperstone or AAAFX?

ECN execution or low spreads?

If you’re a trader looking for a broker that offers ECN execution (as opposed to a market maker), Pepperstone is likely the better choice. However, if you want a broker with lower spreads on currency pairs like EUR/USD, AAAFX may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider Pepperstone to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

Pepperstone is regulated by Financial Conduct Authority,UK and ASIC, while AAAFX is regulated by HCMC.

As the Financial Conduct Authority are one of the most stringent regulators in the world, Pepperstone will have very strict guidelines to follow to ensure they protect their retail trader clients.

Forex.com are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

Pepperstone has been around for 9 years, while AAAFX have been around for 11 years. Our third alternative broker, Forex.com, have been around for 20 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both Pepperstone and AAAFX use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both Pepperstone and AAAFX are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

Pepperstone are based in Melbourne, Australia, while AAAFX are based in Athens, Greece 14 Akti Kondyli Str, Piraeus, 18545.

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both Pepperstone and AAAFX offer forex trading. Pepperstone have a slightly larger variety of currency pairs with 70 pairs, compared to offered by AAAFX. Also, if you’re looking to trade cryptocurrencies, Pepperstone offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

If you’re looking to trade commodities like gold, silver or oil, Pepperstone may be a better fit as AAAFX does not offer commodity trading.

Pepperstone and AAAFX both offer social trading, which is a modern approach to trading that allows you to follow like-minded traders, copy their trading activity, and engage in discussion around trading strategies.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both Pepperstone and AAAFX offer this. Pepperstone also offer the new & improved MT5 platform. Our alternative broker, Forex.com, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. AAAFX, for example, offer a mini account, standard account and VIP account.

For Muslim traders, Pepperstone offers an Islamic account, which doesn’t accrue interest or incur/receive rollover swap points, as this is prohibited in Shariah law. You can learn more & compare Islamic trading accounts head-to-head here.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

Pepperstone does allow scalping and hedging. While AAAFX also allows scalping and hedging. You can trade with EAs (expert advisors) on both Pepperstone and AAAFX.

In terms of risk management tools, Pepperstone does offer negative balance protection to prevent you owing your broker more than you’ve deposited, but AAAFX doesn't offer this.

Pepperstone also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

Pepperstone accept Paypal while AAAFX accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, Pepperstone and AAAFX both charge points. Therefore, both brokers are equally affordable for this instrument. You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: Pepperstone or AAAFX?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, Pepperstone is more reliable based on our criteria above. Pepperstone has a wider range of instruments to trade. Pepperstone offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.