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Pepperstone
Doesn't accept traders from US. See available forex brokers
Not available in your countryRead Pepperstone review
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. 73-89% of retail investor accounts lose money when trading CFDs.
Rating breakdown
- Regulation & trust4.61.3 higher than FBS (3.3)
- Assets & markets4.60.9 higher than FBS (3.7)
- Fees & costs4.50.5 higher than FBS (4.0)
- Platforms & tools4.81.3 higher than FBS (3.5)
- Accounts & banking4.00.5 higher than FBS (3.5)
- Education4.00.5 higher than FBS (3.5)
- Research4.30.5 higher than FBS (3.8)
- Customer support4.60.8 higher than FBS (3.8)
FBS’s score. Numbers show the difference.
FBS
Doesn't accept traders from US. See available forex brokers
Not available in your countryRead FBS review
Rating breakdown
- Regulation & trust3.31.3 lower than Pepperstone (4.6)
- Assets & markets3.70.9 lower than Pepperstone (4.6)
- Fees & costs4.00.5 lower than Pepperstone (4.5)
- Platforms & tools3.51.3 lower than Pepperstone (4.8)
- Accounts & banking3.50.5 lower than Pepperstone (4.0)
- Education3.50.5 lower than Pepperstone (4.0)
- Research3.80.5 lower than Pepperstone (4.3)
- Customer support3.80.8 lower than Pepperstone (4.6)
Pepperstone’s score. Numbers show the difference.
| Pepperstone | FBS | |
|---|---|---|
| Overview | Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 830,000 clients worldwide. It offers access to 1,400+ 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, helping to ensure a secure environment for day traders at all levels. | Founded in 2009, FBS is an award-winning CFD broker operating in over 150 countries with a client base exceeding 27 million traders. Traders are supported at every stage of their journey with 24/7 assistance, market analytics, trading calculators, and competitive pricing with zero commissions. |
| Customer Reviews | Based on 10 customer reviews | Based on 19 customer reviews |
| Trustpilot Score | ||
| 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 24/5 support (18h a day on weekends).” | “FBS is an excellent choice for day traders at every level and budget, with just a $5 minimum deposit and intensive academy for aspiring traders alongside access to MT4 and MT5.” |
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| Instruments | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto CFDs, Spread Betting | CFDs, Forex, Indices, Shares, Commodities |
| Demo Account | Yes | Yes |
| Minimum Deposit | $0 | $5 |
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| Minimum Trade | 0.01 Lots | 0.01 Lots |
| Regulator | FCA, ASIC, CySEC, BaFin, DFSA, SCA, SCB, CMA-Kenya | ASIC, CySEC, FSCA, FSC |
| Margin Trading | Yes | Yes |
| STP Account | Yes | Yes |
| 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 | No | Yes |
| 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. These platforms deliver a stable and reliable mobile trading experience, enhanced by Pepperstone's almost unrivalled execution speeds and wide range of asset classes. Recent improvements also helped it secure second place in DayTrading.com's annual 'Best Trading App' award for 2025. | FBS offers an intuitive proprietary app that is designed to be user-friendly for traders of all levels. Available on both Android and iOS, it's not only easy to navigate but also ensures swift trade execution with speeds from 0.01 seconds. This, combined with a user-friendly interface, provides excellent control over short-term trading strategies. More experienced traders will also appreciate support for the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) apps, featuring advanced charting packages and Expert Advisors (EAs). |
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| Auto Trading | Expert Advisors (EAs) on MetaTrader, cBots on cTrader | Expert Advisors (EAs) on MetaTrader |
| Copy Trading | Yes | No |
| Copy Trading Platform | Pepperstone facilitates the replication of experienced traders' strategies through MetaTrader Signals, DupliTrade and now its own copy trading app (available in certain regions) through a partnership with Pelican Trading, providing access to thousands of experienced traders and personalized risk parameters. On the downside, it lacks support for cTrader Copy which may deter users familiar with the terminal from Spotware. | – |
| Social Trading | No | No |
| Trade Signals | Yes | MT4 & MT5 |
| VPS Hosting | No | Yes |
| Tournaments | No | No |
| Demo Competitions | No | Yes |
| Ethical Investing | No | No |
| Custodial Account | No | No |
| Guaranteed Stop Loss | No | No |
| Inactivity Fee | $0 | $0 |
| Islamic Account | Yes | Yes |
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| CFD Trading | ||
| Overview | 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. | FBS is a CFD broker, allowing you to speculate on the price movements of these assets without actually owning them. CFDs are available in various asset classes, including forex, commodities, indices, and stocks, but there are no opportunities for trading ETFs, bonds, or options. However, what truly empowers traders is the competitive spreads and generous leverage up to 1:3000 (capped at 1:30 for EU traders), all without inactivity or withdrawal fees. |
| Leverage | 1:30 (Retail - UK, EU, Australia), 1:500 (Pro), 1:200 (Offshore), 1:400 (Kenya) | 1:3000 |
| FTSE Spread | 1.0 | 3.42 |
| GBPUSD Spread | 0.4 | 1.3 |
| Oil Spread | 0.02 | 0.02 |
| Stocks Spread | 0.02 | 0.12 (Apple) |
| Forex Trading | ||
| Overview | 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. | FBS offers an improved selection of 72 majors, minors and exotics. Spreads are fairly competitive, averaging 0.7 pips for EUR/. There’s also an excellent range of forex market resources and tools on offer, including calculators and an intensive forex course. |
| GBPUSD Spread | 0.4 | 1.3 |
| EURUSD Spread | 0.1 | 1.1 |
| EURGBP Spread | 0.4 | 1.3 |
| Assets | 100+ | 70+ |
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| Cryptocurrency | ||
| Overview | Pepperstone continues to prove itself as one of the most trusted crypto CFD 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. It has also launched a dedicated crypto exchange in Australia - Pepperstone Crypto. | Crypto trading not offered |
| Spread | 30 (BTC) | 19.75 (BTC/USD) |
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| Crypto Lending | No | No |
| Crypto Mining | No | No |
| Crypto Staking | No | No |
| Auto Market Maker | No | No |
Not available in your countryRead Pepperstone review
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. 73-89% of retail investor accounts lose money when trading CFDs.
Not available in your countryRead FBS review