Comparison of Pepperstone and XM
| Feature | Pepperstone | XM |
|---|---|---|
| Broker | ||
| Year Founded | 2010 | 2009 |
| Broker Type | ECN, DMA | MM |
| Dealing | A-book | B-book |
| Execution | Market | Market |
| Regulation | ASIC, SCB, CySEC, DFSA, BaFin, CMA, FCA | BFSC, CySEC, ASIC, DFSA |
| Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView | MetaTrader 4 (MT4), MetaTrader 5 (MT5) |
| Spread | ⬊ Low | ⬊ Low |
| Maximum Leverage | 1:500 | 1:1000 |
| Minimum Deposit | $1 | $5 |
| Base Currencies | USD, EUR, GBP, AUD, CHF, JPY, NZD, CAD, SGD, HKD | USD, EUR, GBP, AUD, CHF, JPY, PLN, ZAR, SGD, HUF |
| Funding Methods | Bank Wire, Credit Card, Debit Card, Neteller, PayPal, Skrill, USDT (Tether) | Bank Wire, Credit Card, Debit Card, FasaPay, Giropay, IDEAL, Jeton, Mobile Money, MuchBetter, Neteller, NganLuong, Paysafecard, Perfect Money, POLi, Przelewy24, Skrill, STICPAY, Trustly, China UnionPay, WebMoney |
| Inactivity Fee | ✖ | $15 after 12 months |
| Interest on Margin | ✖ | ✖ |
| Withdrawal Fee | ✖ | ✖ |
| Investor Protection | UK Financial Services Compensation Scheme (FSCS), Investor Compensation Fund (ICF) | Investor Compensation Fund (ICF) |
| Protection Size | £85 000 / €20 000 | €20 000 |
| Segregated Accounts | ✔ | ✔ |
| Negative Balance Protection | ✔ | ✔ |
| Guaranteed Stop Loss | ✔ | ✖ |
| Copy Trading | ✔ | ✔ |
| VPS | ✔ | ✔ |
| MAM/PAMM | ✖ | ✖ |
| Scalping Allowed | ✔ | ✔ |
| EAs/Robots | ✔ | ✔ |
| Depth of Market (DOM) | ✔ | ✔ |
| Tradable Assets (CFDs) | Currencies, Indices, Stocks, ETFs, Cryptocurrencies, Metals, Energies, Soft Commodities | Currencies, Indices, Stocks, Cryptocurrencies, Metals, Energies, Soft Commodities |
| Review | Pepperstone Review | XM Review |
About Pepperstone
Pepperstone is a globally recognized forex and CFD broker renowned for its competitive pricing, advanced trading platforms, and superior customer service. Founded in 2010 and headquartered in Melbourne, Australia, Pepperstone has grown to become a trusted name in online trading. With multiple regulatory licenses from top-tier authorities, including ASIC, FCA, and CySEC, the broker offers a secure and transparent trading environment. Whether you're a novice or an experienced trader, Pepperstone provides a range of tools and features to enhance your trading journey.
Pros
- Tight spreads starting from 0.0 pips on Razor accounts
- Regulated by multiple top-tier authorities (ASIC, FCA, CySEC, etc.)
- Access to advanced trading platforms like MetaTrader 4/5 and cTrader
- Excellent for scalping and algorithmic trading with fast execution speeds
- No minimum deposit requirement, making it accessible to all traders
- Dedicated 24/5 multilingual customer support
Cons
- Limited in-house educational resources for beginners
- Limited availability of bonus offers or promotions
About XM
XM is a globally recognized forex and CFD broker established in 2009. Regulated by reputable financial authorities such as the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC), XM provides a secure and transparent trading environment. The broker offers access to over 1000 financial instruments, including forex pairs, commodities, indices, metals, and energies, catering to both novice and experienced traders. One of XM's standout features is its commitment to client education and support. The broker provides extensive educational resources like webinars, tutorials, and market analyses to help traders make informed decisions. With multiple account types, competitive spreads, and support for popular trading platforms like MetaTrader 4 and MetaTrader 5, XM aims to deliver a flexible and user-friendly trading experience tailored to individual needs.
Pros
- Regulated by reputable authorities
- Wide range of trading instruments
- Multiple account types
- Competitive spreads and leverage
- Comprehensive educational resources
- Advanced trading platforms
- Multilingual customer support
Cons
- Inactivity fees
- Restricted in certain countries
Pepperstone & XM Regulation
| Feature | Pepperstone | XM |
|---|---|---|
Companies | Pepperstone Group Limited, Pepperstone Markets Limited, Pepperstone EU Limited, Pepperstone Financial Services (DIFC) Limited, Pepperstone GmbH, Pepperstone Markets Kenya Limited, Pepperstone Limited | XM Global Limited, Trading Point Of Financial Instruments Ltd, Trading Point of Financial Instruments Pty Limited, Trading Point MENA Limited |
Countries | Australia, Bahamas, Cyprus, United Arab Emirates, Germany, Kenya, United Kingdom | Belize, Cyprus, Australia, United Arab Emirates |
Regulators | ASIC, SCB, CySEC, DFSA, BaFin, CMA, FCA | BFSC, CySEC, ASIC, DFSA |
Investor Protection | UK Financial Services Compensation Scheme (FSCS), Investor Compensation Fund (ICF) | Investor Compensation Fund (ICF) |
Investor Protection Size | £85 000 / €20 000 | €20 000 |
Publicly Traded | ||
Segregated Accounts | ||
Guaranteed Stop Loss | ||
Negative Balance Protection |
Companies
Pepperstone
Pepperstone Group Limited, Pepperstone Markets Limited, Pepperstone EU Limited, Pepperstone Financial Services (DIFC) Limited, Pepperstone GmbH, Pepperstone Markets Kenya Limited, Pepperstone Limited
XM
XM Global Limited, Trading Point Of Financial Instruments Ltd, Trading Point of Financial Instruments Pty Limited, Trading Point MENA Limited
Countries
Pepperstone
Australia, Bahamas, Cyprus, United Arab Emirates, Germany, Kenya, United Kingdom
XM
Belize, Cyprus, Australia, United Arab Emirates
Regulators
Pepperstone
ASIC, SCB, CySEC, DFSA, BaFin, CMA, FCA
XM
BFSC, CySEC, ASIC, DFSA
Investor Protection
Pepperstone
UK Financial Services Compensation Scheme (FSCS), Investor Compensation Fund (ICF)
XM
Investor Compensation Fund (ICF)
Investor Protection Size
Pepperstone
£85 000 / €20 000
XM
€20 000
Publicly Traded
Pepperstone
XM
Segregated Accounts
Pepperstone
XM
Guaranteed Stop Loss
Pepperstone
XM
Negative Balance Protection
Pepperstone
XM
Account Types
| Account | Pepperstone | XM |
|---|---|---|
Market Maker Account | ||
| Account Name | — | Standard |
| Min Deposit | — | $5 |
| Lot Size | — | 0.01 |
| Spread Type | — | Floating |
| Execution | — | Market |
| Min Spread | — | 1.6 |
| Fee | — | No |
| Max Leverage | — | 1:1000 |
| Stop Out | — | 20% |
| Margin Call | — | 50% |
ECN Account | ||
| Account Name | Standard | — |
| Min Deposit | $1 | — |
| Lot Size | 0.01 | — |
| Spread Type | Floating | — |
| Execution | Market | — |
| Min Spread | 1 | — |
| Fee | No | — |
| Max Leverage | 1:500 | — |
| Stop Out | 20% | — |
| Margin Call | 90% | — |
Zero Account | ||
| Account Name | Razor | — |
| Min Deposit | $1 | — |
| Lot Size | 0.01 | — |
| Spread Type | Floating | — |
| Execution | Market | — |
| Min Spread | 0 | — |
| Fee | $7 per 1 lot | — |
| Max Leverage | 1:500 | — |
| Stop Out | 20% | — |
| Margin Call | 90% | — |
Cent Account | ||
| Account Name | — | Micro |
| Min Deposit | — | $5 |
| Lot Size | — | 0.01 |
| Spread Type | — | Floating |
| Execution | — | Market |
| Min Spread | — | 1.6 |
| Fee | — | No |
| Max Leverage | — | 1:1000 |
| Stop Out | — | 20% |
| Margin Call | — | 50% |
| Additional Features | ||
| Demo Account | ||
| VIP Account | ||
| Swap-Free Account | ||
| Copy Trading | ||
| VPS | ||
| PAMM/MAM Accounts | ||
Market Maker Account
Account Name
Pepperstone
—
XM
Standard
Min Deposit
Pepperstone
—
XM
$5
Lot Size
Pepperstone
—
XM
0.01
Spread Type
Pepperstone
—
XM
Floating
Execution
Pepperstone
—
XM
Market
Min Spread
Pepperstone
—
XM
1.6
Fee
Pepperstone
—
XM
No
Max Leverage
Pepperstone
—
XM
1:1000
Stop Out
Pepperstone
—
XM
20%
Margin Call
Pepperstone
—
XM
50%
ECN Account
Account Name
Pepperstone
Standard
XM
—
Min Deposit
Pepperstone
$1
XM
—
Lot Size
Pepperstone
0.01
XM
—
Spread Type
Pepperstone
Floating
XM
—
Execution
Pepperstone
Market
XM
—
Min Spread
Pepperstone
1
XM
—
Fee
Pepperstone
No
XM
—
Max Leverage
Pepperstone
1:500
XM
—
Stop Out
Pepperstone
20%
XM
—
Margin Call
Pepperstone
90%
XM
—
Zero Account
Account Name
Pepperstone
Razor
XM
—
Min Deposit
Pepperstone
$1
XM
—
Lot Size
Pepperstone
0.01
XM
—
Spread Type
Pepperstone
Floating
XM
—
Execution
Pepperstone
Market
XM
—
Min Spread
Pepperstone
0
XM
—
Fee
Pepperstone
$7 per 1 lot
XM
—
Max Leverage
Pepperstone
1:500
XM
—
Stop Out
Pepperstone
20%
XM
—
Margin Call
Pepperstone
90%
XM
—
Cent Account
Account Name
Pepperstone
—
XM
Micro
Min Deposit
Pepperstone
—
XM
$5
Lot Size
Pepperstone
—
XM
0.01
Spread Type
Pepperstone
—
XM
Floating
Execution
Pepperstone
—
XM
Market
Min Spread
Pepperstone
—
XM
1.6
Fee
Pepperstone
—
XM
No
Max Leverage
Pepperstone
—
XM
1:1000
Stop Out
Pepperstone
—
XM
20%
Margin Call
Pepperstone
—
XM
50%
Additional Features
Demo Account
Pepperstone
XM
VIP Account
Pepperstone
XM
Swap-Free Account
Pepperstone
XM
Copy Trading
Pepperstone
XM
VPS
Pepperstone
XM
PAMM/MAM Accounts
Pepperstone
XM
Funding and Fees
| Feature | Pepperstone | XM |
|---|---|---|
Base currencies | USD, EUR, GBP, AUD, CHF, JPY, NZD, CAD, SGD, HKD | USD, EUR, GBP, AUD, CHF, JPY, PLN, ZAR, SGD, HUF |
Deposit and withdrawal methods | Bank Wire, Credit Card, Debit Card, Neteller, PayPal, Skrill, USDT (Tether) | Bank Wire, Credit Card, Debit Card, FasaPay, Giropay, IDEAL, Jeton, Mobile Money, MuchBetter, Neteller, NganLuong, Paysafecard, Perfect Money, POLi, Przelewy24, Skrill, STICPAY, Trustly, China UnionPay, WebMoney |
Inactivity fee | $15 after 12 months | |
Interest on margin | ||
Withdrawal fee |
Base currencies
Pepperstone
USD, EUR, GBP, AUD, CHF, JPY, NZD, CAD, SGD, HKD
XM
USD, EUR, GBP, AUD, CHF, JPY, PLN, ZAR, SGD, HUF
Deposit and withdrawal methods
Pepperstone
Bank Wire, Credit Card, Debit Card, Neteller, PayPal, Skrill, USDT (Tether)
XM
Bank Wire, Credit Card, Debit Card, FasaPay, Giropay, IDEAL, Jeton, Mobile Money, MuchBetter, Neteller, NganLuong, Paysafecard, Perfect Money, POLi, Przelewy24, Skrill, STICPAY, Trustly, China UnionPay, WebMoney
Inactivity fee
Pepperstone
XM
$15 after 12 months
Interest on margin
Pepperstone
XM
Withdrawal fee
Pepperstone
XM
Trading Platforms and Conditions
| Feature | Pepperstone | XM |
|---|---|---|
Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView | MetaTrader 4 (MT4), MetaTrader 5 (MT5) |
Execution Speed | 40 ms | 0 ms |
Scalping | ||
Expert Advisors (EAs) | ||
Depth of Market (DOM) | ||
Spread | low | low |
Trading Platforms
Pepperstone
MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView
XM
MetaTrader 4 (MT4), MetaTrader 5 (MT5)
Execution Speed
Pepperstone
40 ms
XM
0 ms
Scalping
Pepperstone
XM
Expert Advisors (EAs)
Pepperstone
XM
Depth of Market (DOM)
Pepperstone
XM
Spread
Pepperstone
low
XM
low
Trading Assets
| Asset | Pepperstone | XM |
|---|---|---|
Currencies | 97 | 55 |
Indices | 26 | 50 |
Stocks | 986 | 1307 |
Cryptocurrencies | 30 | 58 |
Bonds | 0 | 0 |
Metals | 20 | 3 |
Energies | 4 | 3 |
Soft Commodities | 16 | 8 |
ETFs | 108 | 0 |
Currencies
Pepperstone
97
XM
55
Indices
Pepperstone
26
XM
50
Stocks
Pepperstone
986
XM
1307
Cryptocurrencies
Pepperstone
30
XM
58
Bonds
Pepperstone
0
XM
0
Metals
Pepperstone
20
XM
3
Energies
Pepperstone
4
XM
3
Soft Commodities
Pepperstone
16
XM
8
ETFs
Pepperstone
108
XM
0
Education and Analytics
| Feature | Pepperstone | XM |
|---|---|---|
Economic Calendar | ||
Indicators | ||
Robots | ||
Signals | ||
Autochartist | ||
Expert Analytics | ||
News Feed | ||
Education Articles | ||
Webinars | ||
Seminars |
Economic Calendar
Pepperstone
XM
Indicators
Pepperstone
XM
Robots
Pepperstone
XM
Signals
Pepperstone
XM
Autochartist
Pepperstone
XM
Expert Analytics
Pepperstone
XM
News Feed
Pepperstone
XM
Education Articles
Pepperstone
XM
Webinars
Pepperstone
XM
Seminars
Pepperstone
XM
Bonuses
| Bonus | Pepperstone | XM |
|---|---|---|
| Welcome Bonus | ||
| Is available | ||
| Size | — | 100%, up to $5000 |
| Details | — | Learn More |
Welcome Bonus
Is available
Pepperstone
XM
Size
Pepperstone
—
XM
100%, up to $5000
Details
Pepperstone
—
Contests
| Feature | Pepperstone | XM |
|---|---|---|
| Live Contests | ||
| Is available | ||
| Contests List | — |
|
Live Contests
Is available
Pepperstone
XM
Contests List
Pepperstone
—
XM
- StarterStart Balance: $500 · Prize Pool: $15000 · Period: WeeklyLearn More
- ProStart Balance: $1000 · Prize Pool: $30,000 · Period: WeeklyLearn More
Customer Support
| Contact | Pepperstone | XM |
|---|---|---|
Email | support@pepperstone.com | support@xm.com |
Phone | +17866281209 | +5012236696 |
Facebook | ||
LinkedIn | ||
YouTube | YouTube | YouTube |
Instagram | ||
Twitter | ||
TikTok | — | TikTok |
Email
Pepperstone
Phone
Pepperstone
TikTok
Pepperstone
—
XM
Which Broker is Better?
After comparing Pepperstone and XM, XM comes out ahead as our overall pick. It ranks higher in our internal scoring and delivers a stronger balance of pricing (spreads/fees), platform experience, and product range. That said, the runner-up may still be a better fit if you prioritize specific needs—like a particular account type, funding method, or niche instruments. This is not financial advice; always choose a broker that matches your goals and local regulatory requirements.
More Comparisons
Andriy Bondarenko
Broker Analyst
Andriy is a seasoned expert in broker reviews with over a decade of experience in finance and trading. Under his leadership, the team produces in-depth and unbiased analyses of leading trading platforms.