Pepperstone vs BMFN

Pepperstone vs BMFN Comparison Table 2024
Pepperstone	BMFN
Review 4.8	Review 1.5

Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.	In the market since 1988, BMFN is an international CFD and forex broker based offshore in Vanuatu. The firm offers direct market access (DMA) on over 90 instruments and the MetaTrader 4 platform. Minimum deposits start from $50 and leverage is flexible up to 1:200. BMFN has over 14 offices worldwide and is regulated by the Vanuatu Financial Services Commission (VFSC).
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.
Customer Reviews
3.8 Based on 4 Pepperstone customer reviews
Comment by Reviewer
"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."	"After testing this offshore broker, I think traders looking for a no-frills trading experience on the MT4 platform and unregulated leverage rates up to 1:200 could be well suited. That said, the weak regulation and lack of additional tools is a major drawback for me."
Pros
Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for day trading. There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading. Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates of 25%+ through the Active Trader program. Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing. Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.	I appreciated the range of payment methods available during my tests, including credit/debit card, bank wire, Neteller and Skrill. Minimum deposits are also reasonable at $50 I’m glad to see the reliable MetaTrader 4 platform available via desktop, web and mobile applications
Cons
There’s no simplified proprietary trading platform, nor are there any social trading features, which could be a disadvantage if you are new to day trading. Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies. Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets. Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.	BMFN is regulated offshore by the Vanuatu Financial Services Commission (VFSC) - a weak regulatory body with few safeguarding measures in place to protect clients The lack of transparency on the broker’s website, plus broken links and contradicting information, is also a concern for me and makes me question the broker’s safety I found fees at BMFN were not competitive compared to many brokers I review. Spreads start from 1.4 pips, which is above the industry average for EUR/USD The broker trails behind competitors when it comes to market and platform availability - I would like to see more choice and variety for traders The lack of additional analysis tools and educational resources is also a major drawback for me
Awards
Best Forex Broker - DayTrading.com 2024 Best Overall Broker - DayTrading.com 2023 Best Trading App - DayTrading.com 2022 Best Forex Broker - DayTrading.com 2021 Best MT4 Broker - Good Money Guide 2023 #1 Overall Client Satisfaction - UK Investment Trends 2022 #1 Value for Money - UK Investment Trends 2022 #1 Quality of Trade Execution - UK Investment Trends 2022 #1 Ease of Platform Navigation - UK Investment Trends 2022 #1 Charting - UK Investment Trends 2022 Best Forex Broker Overall - Compareforexbrokers.com 2022 Best MT4 Broker - Good Money Guide Best MT4 Broker 2022 Top 5 MetaTrader brokers - Broker Chooser Top 5 MetaTrader Brokers 2022
Instruments
CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting	CFDs, Forex, Stocks, ETFs, Commodities
Demo Account
Yes	Yes
Minimum Deposit
$0	$50
Trading Platforms
MT4 MT5 cTrader TradingView AutoChartist DupliTrade	MT4
Payment Methods
BPAY Credit Card Debit Card Mastercard Neteller PayPal POLi Skrill UnionPay Visa Wire Transfer	Cashu Credit Card Neteller Skrill Wire Transfer
Minimum Trade
0.01 Lots	1 Lot
Regulator
FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB	VFSC
Margin Trading
Yes	Yes
STP Account
Yes	No
ECN Account
Yes	No
DMA Account
Yes	Yes
MAM Account
Yes	No
PAMM Account
Yes	No
LAMM Account
No	Yes
Demat Account
No	No
AI / Machine Learning
Yes	No
Robo Advisor
No	No
Negative Balance Protection
Yes	No
Market Maker
No	No
P2P Trading
No	No
Spot Trading
Yes	No
Mobile Apps
iOS & Android	iOS & Android
App Review
Pepperstone excels for its excellent integration with the MT4, MT5, cTrader, and TradingView apps, making it a standout option for day traders familiar with these leading third-party trading solutions. Despite the absence of a proprietary app, these platforms deliver a stable and reliable mobile trading experience, enhanced by Pepperstone’s almost unrivalled execution speeds and wide range of asset classes.
Android App Rating
4.1
iOS App Rating
4.4
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes	No
Copy Trading Platform
Pepperstone facilitates the replication of experienced traders' strategies through MetaTrader Signals and DupliTrade. However, it lacks support for cTrader Copy and does not offer a proprietary social trading network similar to those found on platforms like eToro or Vantage, which foster lively social trading communities for aspiring traders.
Social Trading
No	No
Trade Signals
Yes (Via Chartist Software)	Yes
VPS Hosting
Yes	No
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Inactivity Fee
$0
Islamic Account
Yes	No
Account Currencies
USD EUR GBP CAD AUD NZD JPY CHF HKD SGD	USD
Stock Exchanges
Australian Securities Exchange (ASX) CAC 40 Index France DAX GER 40 Index Deutsche Boerse Dow Jones Euronext FTSE UK Index Hang Seng Hong Kong Stock Exchange IBEX 35 Japan Exchange Group Korean Stock Exchange London Stock Exchange Nasdaq New York Stock Exchange Russell 2000 S&P 500 Shanghai Stock Exchange SIX Swiss Exchange Shenzhen Stock Exchange Toronto Stock Exchange Taiwan Stock Exchange	New York Stock Exchange
Commodities
Aluminium Cocoa Coffee Copper Corn Cotton Gasoline Gold Livestock Natural Gas Nickel Oil Orange Juice Palladium Platinum Precious Metals Silver Soybeans Sugar Wheat Zinc	Silver
CFD Trading
Pepperstone maintains its position as one of the fastest and most dependable CFD brokers during our latest round of testing. With execution speeds averaging around 30ms and an outstanding fill rate of 99.90%, the broker ensures a seamless trading experience without requotes or dealing desk interference. It also provides ample trading opportunities across over 1,300 assets.	BMFN’s small range of 90+ CFDs covers currencies, equities, indices, ETFs and commodities. Trading is only available on the MetaTrader 4 desktop terminal or web platform, so traders looking for a bespoke solution may want to look elsewhere. Spreads are relatively high compared to other brands, though I am glad to see that there are no commissions.
Leverage
1:30 (Retail), 1:500 (Pro)	1:400
FTSE Spread
1.0
GBPUSD Spread
0.4	1.8
Oil Spread
2.5	2.2
Stocks Spread
0.02
Forex Trading
Pepperstone offers ultra-competitive forex spreads averaging 0.12 pips on EUR/USD in the Razor account, accompanied by a diverse portfolio comprising 100+ currency pairs - an extensive selection surpassing most competitors. Additionally, Pepperstone distinguishes itself by offering three currency indices (USDX, EURX, JPYX), not commonly found among alternative platforms. Pepperstone has now won our annual 'Best Forex Broker' award twice.	During testing, I found 20+ currency pairs covering majors and minors with variable spreads. I think this is a pretty poor selection considering most brokers offer 30+ pairs. Also, spreads aren’t particularly competitive, starting from 1.4 pips for major pairs. Most brokers I review aim for less than 1 pip on average.
Forex App
Pepperstone deliver their MetaTrader 4, MetaTrader 5, cTrader and TradingView platforms across both Android and iOS. With faster processing times, the ability to hedge your positions, advanced pending orders and more tools and indicators to take your trading to the next level – they are a powerful addition for mobile traders.
GBPUSD Spread
0.4	1.8
EURUSD Spread
0.1	1.5
EURGBP Spread
0.4	4
Assets
100+	22
Currency Indices
USD EUR JPY
Cryptocurrency
Pepperstone continues to prove itself as one of the most trusted crypto brokers. Although its selection of digital tokens is average, you can trade popular cryptos like Bitcoin and altcoins like Ripple with up to 1:10 leverage, while its crypto indices provide a holistic view of the digital currency markets not found on most day trading platforms.	Crypto trading not offered
Spread
BTC 30, ETH 0
Coins
BCH BTC ETH LTC DASH ADA LINK DOGE EOS DOT XRP XLM XTZ UNI BNB
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

Review	Review
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.
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