Pepperstone vs DCFX

Pepperstone vs DCFX Comparison Table 2024
Pepperstone DCFX
4.8
3.3
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted

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.

DCFX is a global forex and CFD broker. The broker offers standard retail trading services from its global branch, as well as innovative technology and prime liquidity solutions for professional clients from its UK branch. Depending on location, traders can access up to 80+ forex, indices, cryptos, commodities and futures on the MetaTrader 5 platform.

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
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." "With DCFX’s dedication to technology, low latency execution and end-to-end solutions, I would recommend this broker to professional UK-based forex traders looking for a powerful FIX API and the MT5 platform. Alternatively, the Standard account at the global branch will suit beginners looking for fixed spreads and copy-trading features. However, the lack of regulation at this branch is a drawback."
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.
  • UK traders will benefit from top-tier FCA regulation, with access to the Financial Services Compensation Scheme and negative balance protection
  • The news section at DCFX is comprehensive, with a real-time feed featuring articles and videos from top-tier sources including Bloomberg and Yahoo Finance, as well as an economic calendar
  • The broker offers raw spread accounts with forex spreads from 0.0 pips, high leverage for experienced investors and zero commission trading available
  • I was happy with the broker’s reliable 24/5 customer support via live chat, plus tailored support services for professional clients at the UK branch
  • I was really pleased to see a user-friendly copy-trading service with useful P&L visuals and transparent data
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.
  • I’m disappointed that the global branch is unregulated, meaning clients won’t have the same financial protections as those registering with the FCA-regulated branch
  • It’s a shame that the broker’s overall market coverage is quite narrow for global clients, with even fewer assets available for UK clients
  • Raw spreads are only accessible to experienced or professional clients who can afford the higher minimum deposit requirements
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
  • Best Trade Execution 2020 - Global Forex Awards
Instruments
CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting CFDs, Forex, Commodities, Shares, Indices, Cryptocurrencies
Demo Account
Yes Yes
Minimum Deposit
$0 $30
Trading Platforms
  • MT4
  • MT5
  • cTrader
  • TradingView
  • AutoChartist
  • DupliTrade
  • MT5
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB FCA
Margin Trading
Yes Yes
STP Account
Yes No
ECN Account
Yes Yes
DMA Account
Yes No
MAM Account
Yes No
PAMM Account
Yes No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
Yes No
Robo Advisor
No No
Negative Balance Protection
Yes Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes Yes
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 Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes Yes
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. I think DCFX’s copy-trading app is an excellent choice for newcomers who want to copy the strategies of other users and learn about the markets through the experience of others. You can view the profit stats of each signal provider within the user-friendly dashboard. Alternatively, traders can sign up to be signal managers themselves.
Social Trading
No No
Trade Signals
Yes (Via Chartist Software) MetaTrader
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
  • EUR
  • GBP
Stock Exchanges
Commodities
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. CFDs are available with high leverage up to 1:1000 at the global branch, covering forex, commodities, indices, stocks and cryptos. Minimum deposits start from $30, though I found that experienced traders who can deposit $3000 will access the most competitive Raw CFD spreads. I was glad to see the MT5 platform available for all clients, which offers comprehensive charting features.
Leverage
1:30 (Retail), 1:500 (Pro) 1:30 (UK Standard), 1:100 (UK Zero), 1:1000 (Global)
FTSE Spread
1.0 From 0.0
GBPUSD Spread
0.4 From 0.0
Oil Spread
2.5 From 0.0
Stocks Spread
0.02 From 0.0
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. My tests uncovered around 30 currency pairs at DCFX, spanning all the popular majors and minors with zero commissions. This selection is below the industry average, however, very competitive raw spreads from 0.0 pips are available for experienced clients thanks to the broker’s prime liquidity aggregation engine. I’m also pleased to see comprehensive forex market news updates from top-tier sources including Bloomberg.
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 From 0.0
EURUSD Spread
0.1 From 0.0
EURGBP Spread
0.4 From 0.0
Assets
100+ 25+
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. I found 8 of the most popular crypto USD pairs available for global clients only, including BTCUSD, ETHUSD and SOLUSD. This isn’t the widest range but aligns with most similar brokers. Commissions are 0.4% per lot for both account types and I was pleased to see that all trading strategies and styles are permitted in the MT5 platform.
Spread
BTC 30, ETH 0 From 0.1
Coins
  • BCH
  • BTC
  • ETH
  • LTC
  • DASH
  • ADA
  • LINK
  • DOGE
  • EOS
  • DOT
  • XRP
  • XLM
  • XTZ
  • UNI
  • BNB
  • BTC
  • BCH
  • ETH
  • LTC
  • DOT
  • AVA
  • BNB
  • SOL
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
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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