image Pepperstone VISIT PEPPERSTONE image Darwinex VISIT DARWINEX image IG VISIT IG
About

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

Darwinex is regulated by the Financial Conduct Authority. Darwinex have provided Forex, Spread betting trading services since 2012.

IG is regulated by the Financial Conduct Authority and ASIC. IG have provided forex, spread betting, CFD, and stock trading services since 1974.

Why choose them?
  • Yes Over 8 years in business
  • Yes Segregates clients funds
  • Yes Regulated by ASIC
  • Yes Over 6 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 44 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
Headquarters Melbourne, Australia London, UK London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting No Yes Yes
Social Trading Yes Yes No
MARKETS & INSTRUMENTS
Forex (currency pairs) 70 40 90
Commodities Offered 0 34
Stocks Offered 0 8000
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks No No Yes
Penny stocks No No No
Energies Yes No Yes
Metals Yes Yes Yes
Agriculturals No No Yes
FTSE No Yes Yes
Dow Jones No No Yes
Dax Yes Yes Yes
Nikkei No Yes Yes
ETFs No No Yes
IPO No No Yes
See all instruments

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

See all instruments

73% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

76% of retail investor accounts lose money when trading spread bets and 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 Yes
WebTrader Yes Yes Yes
Mirror Trader No No No
ZuluTrade Yes No No
Sirix No No No
cTrader Yes No No
PAMM No Yes No
Custom Platforms No Social Trading ProRealTime & L2 Dealer

APPS

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

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

English, Spanish, Chinese, and French

English, French, German, Spanish, and Portuguese

See platform & features

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

See platform & features

73% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

ACCOUNT INFORMATION

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

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

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

See account options

73% of retail investor accounts lose money when trading CFDs with this provider

See account options

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes Yes Yes
Direct market access Yes Yes Yes
STP broker Yes Yes Yes
Market maker Yes Yes No
Min trade 0.01 Lot 0.01 Lot £1
Max trade None None Variable
Min deposit $200 $500 $250

RISK MANAGEMENT

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

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal Yes No Yes
Neteller Yes No No
Skrill Yes No No
Payment processing time Varies 1-3 business days Varies
Withdrawal processing time Varies 1-3 business days Varies
See all funding options

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

See all funding options

73% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

DETAILED INFO

Excluded countries US US BE,FR,IN,IL,PL,ZW
Contact email Send Email Send Email Send Email
phone number 61 3 9020 0155 44 20 7193 1232 44 20 7633 5300
Live Chat Yes Yes Yes
Website https://pepperstone.com/ https://www.darwinex.com http://www.ig.com/
Forex Spreads
EUR/USD 0.00 0.20 0.60
GBP/USD 1.10 0.50 0.90
USD/JPY 1.00 0.50 0.70
AUD/USD 1.1 0.6
Cryptocurrency Spreads N/A 10
View all FX spreads

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

View all FX spreads

73% of retail investor accounts lose money when trading CFDs with this provider

View all FX spreads

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

INDICE SPREADS
Dax 30 1.50 1.0
Nasdaq 100 2.0 1.0
Euro Stoxx 50 2.0 1.5
ASX 200 1.0
S&P 500 0.4 0.4
FTSE 100 1.0 1.0
Google N/A 1 to 20
Facebook N/A 4 points per side
View all spreads

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

View all spreads

73% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

FEES

Inactivity Fee Yes No Yes
Commission Yes Yes Yes (0.1%)
Deposit Fee No No Varies
Withdrawal Fee No Yes No
View All Fees

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

View All Fees

73% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

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Last update

All information collected from https://pepperstone.com/. Last updated on 01/06/2019.

All information collected from https://www.darwinex.com. Last updated on 01/06/2019.

All information collected from http://www.ig.com/. Last updated on 01/06/2019.

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.

Darwinex is an online forex trading service provider who are regulated by the Financial Conduct Authority. To open an account with Darwinex, minimum deposits start from $/£500.

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

Darwinex offer MT4, MT4 mobile, MT4 iOS and MT4 Android platforms to make your trades and support 3 different languages.

They also offer traders free educational material to better understand the markets and trading strategies.

The spreads offered by Darwinex for the most popular instruments are:
0.38 EUR/USD, 0.8 FTSE 100, 0.12 GOLD,
0.43 GBP/USD, n/a DOW/JONES, n/a Crude Oil,
see all the spreads here.

Founded in 1974, IG are one of the largest and most respected brokers in the world. With over 125,000 traders, low margins and spreads, and a range of platforms, they're a popular choice for traders looking for a reputable broker that also offers a good range of markets and trading options.

IG are also one of the few brokers that offer experienced traders the chance to upgrade to an elective professional status. For more information about trading with IG, we have put together an indepth IG review with all the pros and cons about this broker.

Popular comparisons

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Popular comparisons feat. Darwinex

Darwinex Alternatives

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IG Alternatives

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Pepperstone or Darwinex?

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, Darwinex 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 and Darwinex to be equally reliable. We’ve broken down why below:

Who are they regulated by?

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

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

IG 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 Darwinex have been around for 7 years. Our third alternative broker, IG, have been around for 45 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.

Pepperstone uses tier one banks as their banking partner.Darwinex does not use tier one banks as their banking partner.

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.

We’re not aware of any penalties or fines imposed by regulators on Pepperstone or Darwinex in the past five years.

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 Darwinex 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 Darwinex are based in London, UK.

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 Darwinex offer forex trading. Pepperstone have a slightly larger variety of currency pairs with 70 pairs, compared to 40 offered by Darwinex. 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 Darwinex does not offer commodity trading.

Pepperstone and Darwinex 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 Darwinex offer this. Pepperstone also offer the new & improved MT5 platform. Our alternative broker, IG, 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. IG, for example, offer a mini account, standard account and VIP account.

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 Darwinex also allows scalping and hedging. You can trade with EAs (expert advisors) on both Pepperstone and Darwinex.

In terms of risk management tools, Pepperstone does offer negative balance protection to prevent you owing your broker more than you’ve deposited, but Darwinex 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 Darwinex accept Payoneer.

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 charges 0.00 points, while Darwinex charges 0.20 points. Therefore, Pepperstone is the more affordable for this instrument. If you want to compare their spreads across more instruments, 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 Darwinex?

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

Objectively, Darwinex 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.