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In-depth head-to-head verdicts from our analysts.
In-depth head-to-head verdicts from our analysts.
Select up to 4 brokers and compare them side by side across every metric.
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| Overall Rating | 4.2 | 4.5 |
|---|---|---|
| Safety & Regulation | 3.6 | 4.4 |
| Fees & Costs | 4.2 | 4.6 |
| Markets & Products | 3.9 | 4.2 |
| Platforms & Execution | 4.8 | 4.9 |
| Deposit & Withdrawal | 5.0 | 4.7 |
| Trading Tools | 4.6 | 4.7 |
| Education | 3.8 | 3.8 |
| Customer Service | 4.5 | 4.8 |
| Account Opening | 4.4 | 4.8 |
| Established | 2007 | 2010 |
| Headquarters | Level 4, 50 Carrington Street, Sydney, NSW 2000. | Level 16, Tower One, 727 Collins Street
Melbourne, VIC, Australia 3008 |
| Broker Type | ECN / No Dealing Desk, CFD and forex broker | STP, ECN, DMA |
| Regulation | ASICCySECFSA SeychellesSCBCMA Kenya | ASICFCABaFinCySECDFSACMA UAECMA KenyaSCB Best value for Regulation |
| Segregated Client Funds | Yes | Yes |
| Negative Balance Protection | Varies | Varies |
| Banking License | No | No |
| Publicly Traded | No | No |
| Languages | English, Spanish, French, German, Portuguese, Japanese, Italian, Greek, Mandarin, Chinese, Indonesian, Thai, Arabic, Vietnamese, Bahasa Indonesia | Arabic, Chinese, English, French, German, Hindi, Italian, Indonesian, Korean, Russian, Mandarin, Polish, Portuguese, Spanish, Thai, Urdu Best value for Languages |
| Customer Support | Email, Telephone, Live Chat | Email, Phone, Live Chat, WhatsApp |
| Customer Support Hours | 24/7 live chat, phone and email (Global and Kenya entities); 7-day support (EU entity) | 24 hours on weekdays, 18 hours at weekends; live chat, phone, email and WhatsApp |
| Demo Account | Yes | Yes |
| Swap-Free Account | Varies | Varies |
| Joint Account | No | Yes |
| Corporate Account | Yes | Yes |
| Managed Account | Yes | Yes |
| PAMM / MAM Trading | Yes | Yes |
| Social / Copy Trading | Yes | Yes |
| Minimum Deposit | $0 | $0 |
| Maximum Leverage | 1:30 (ASIC and CySEC retail); up to 1:5000 (FSA Seychelles, MetaTrader, FX majors/minors, first 25 lots; tiers down to 1:500 above 100 lots; 1:500 cap during Higher Margin Requirement periods); 1:1000 (cTrader and TradingView) | 1:30 (FCA, ASIC, CySEC, BaFin, DFSA retail), 1:200 (SCB Bahamas entity), 1:400 (CMA Kenya entity) |
| Payment Methods | Bank Transfer, Credit/ Debit Card, Paypal, Neteller, Skrill, UnionPay, Bpay, Broker to Broker, POLI, Thai Internet Banking, Rapidpay, Klarna, Vietnamese Internet Banking, Cryptocurrency Best value for Payment Methods | Bank Transfer, Credit/ Debit Card, Cryptocurrency, Apple Pay, Google Pay, PayPal, Skrill, Neteller, BPAY, PayID, UnionPay, AliPay |
| Account Currencies | AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, CHF | AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD |
| Bonuses | No | No |
| Contests | No | No |
| Markets & Products | Forex, CFDs | Forex, CFDs |
| Currency Pairs | 61 Currency pairs, including major, minor, and exotic pairs. | 90+ FX pairs |
| Minimum Lot Size | 0.01 | 0.01 |
| Maximum Lot Size | 200 | 100 |
| Decimal Pricing | 5 decimals | 5 decimals |
| Order Types | Market, limit, stop, trailing stop, plus platform-specific types. | Market, limit and stop loss orders. Day orders cancel at 22:00 GMT; good till cancelled orders stand until cancelled or accepted. Limit and stop loss orders are not guaranteed to fill at the level set. |
| Execution Type | ECN / No Dealing Desk | ECN / STP, no dealing desk |
| Margin Call Level | 100% | 90% (MT4/MT5); 80% default on cTrader and TradingView (customisable: 150%, 100%, 80%) |
| Stop Out Level | 50% | 50% (retail, all entities); 20% (Pepperstone Pro)differs by entity or account type |
| Hedging | Yes | Yes |
| Scalping | Yes | Yes |
| Spread Type | Variable | Variable |
| Spreads From | 0.0 pips (Raw accounts, 0.1 average on EUR/USD),
0.8 pips (Standard account, raw spread plus 0.8 pip markup) | 0.0 pips (Razor Account, 0.1 average on EUR/USD),
1.0 pips (Standard Account, 1.1 average on EUR/USD) |
| Commission | Standard - $0 (cost is a 0.8 pip markup on the raw spread),
Raw Spread MT4/MT5 - $7.00 round turn ($3.50 per side, per lot; EUR 6.50 / GBP 5.50 round turn on those base currencies),
Raw Spread cTrader/TradingView - $3.00 per side per USD 100,000 traded, not per lot (about $7.83 round turn on 1 lot EUR/USD at 1.30),
Raw Pro - $3.00 round turn ($1.50 per side), $5,000 minimum deposit, early access,
Raw Pro+ - $2.00 round turn ($1.00 per side), $100,000 minimum deposit, early access | Standard - $0 (1 pip markup on margin FX),
Razor MT4/MT5 - $7.00 round turn ($3.50 per side per standard lot; AUD 7.00 or GBP 4.50 on those base currencies),
Razor cTrader - $6.00 round turn ($3.00 per side per 100,000 base units, fixed),
Razor TradingView - $7.00 round turn (fixed per 100,000 base units),
Razor Pepperstone platform - $7.00 round turn ($3.50 per side per standard lot),
Share and ETF CFDs - 0.07% to 0.20% per side (both account types) |
| Overnight / Swap Fees | Yes | Yes |
| Deposit Fee | No | No |
| Withdrawal Fee | Yes | Varies |
| Currency Conversion Fee | Yes | Yes |
| Account Maintenance Fee | No | No |
| Inactivity Fee | Yes | No Best value for Inactivity Fee |
| Custody Fee | No | No |
| Trading Platforms | IC Mobile App, WebTrader, TradingView, MT4, MT5, cTrader | Web, Mobile, TradingView, MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader |
| Mobile App | Yes | Yes |
| API Access | Varies | Yes Best value for API Access |
| VPS Hosting | Varies | Varies |
| Automated Trading | Yes | Yes |
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