XM vs Pepperstone

XM vs Pepperstone Comparison Table 2025
XM	Pepperstone
Review 4.6	Review 4.8
Traders from US not accepted See available CFD brokers	Traders from US not accepted See available CFD brokers
XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been delivering low trading fees across its growing roster of 1000+ instruments. It’s also highly regulated, including by ASIC and CySEC and offers a comprehensive MetaTrader experience.	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.
	CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.8% of retail investor accounts lose money when trading CFDs.
Customer Reviews
4.6 Based on 24 XM customer reviews	3.2 Based on 5 Pepperstone customer reviews
Bonus Offer
$30 No Deposit Bonus When You Register A Real Account
Comment by Reviewer
"With a low $5 minimum deposit, advanced charting platforms in MT4 and MT5, expanding range of markets, and a Zero account offering spreads from 0.0, XM provides all the essentials for active traders, even earning our ‘Best MT4/MT5 Broker’ award in recent years."	"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."
Pros
XM’s Zero account is ideal for day trading with spreads from 0.0 pips, 99.35% of orders executed in <1 second, and no requotes or rejections. XM stands out for its commitment to trader education, with a wealth of well-presented resources, including webinars, tutorials, and even real-time trading sessions through XM Live. XM’s customer support has delivered over years of testing, with 24/5 assistance in 25 languages, response times of <2 minutes and now a growing Telegram channel. XM’s growing roster of 1,000+ instruments provides diverse short-term trading opportunities, with unique turbo stocks, fractional shares, and more recently thematic indices.	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 has greatly improved the deposit and withdrawal experience in recent years, adding Apple Pay and Google Pay in 2025, as well as PIX and SPEI for clients in Brazil and Mexico in 2024. Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates up to 30% (index and commodities) and $3/lot (forex) through the Active Trader program. Pepperstone has scooped multiple DayTrading.com annual awards over the years, most recently 'Best Overall Broker' in 2025 and 'Best Forex Broker' runner up in 2025. 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.
Cons
XM relies solely on the MetaTrader platforms for desktop trading, so there’s no in-house downloadable or web-accessible solution for a more beginner-friendly user experience with unique features. Although trusted and generally well-regulated, the XM global entity is registered with the weak IFSC regulator and UK clients are no longer accepted, reducing its market reach. While the XM app stands out for its usability and exclusive copy trading products, the selection of technical analysis tools needs to be improved to meet the needs of advanced traders. XM is falling behind the curve by not offering cTrader and TradingView which are increasingly being favored over MetaTrader for their smoother user experience and superior charting packages.	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, though it has introduced an intuitive copy trading app. 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.
Awards
Outstanding Customer Service Global 2024 - Capital Finance International Magazine Best FX Service Provider 2024 - City of London Wealth Management Awards Best FX Broker, Europe 2023 - World Finance Forex Awards Best CFD Provider 2023 - City of London Wealth Management Awards The Best Crypto CFDs 2022 - Financial Expo Egypt Best FX Service Provider 2022 - City of London Wealth Management Awards Best MT4/MT5 Broker 2021 - DayTrading.com Best FX Educational Broker in the MENA region 2021 - Dubai Expo Awards	Best Overall Broker - DayTrading.com 2025 Best Forex Broker Runner Up - DayTrading.com 2025 Best Trading App Runner Up - DayTrading.com 2025 Best MT4/MT5 Broker Runner Up - DayTrading.com 2025 Best TradingView Broker Runner Up - DayTrading.com 2025 Best Forex Broker - DayTrading.com 2024 Best Overall Broker - DayTrading.com 2023 Best Trading App - DayTrading.com 2022 Best Forex Broker - DayTrading.com 2021
Instruments
CFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, Energies	CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
Demo Account
Yes	Yes
Minimum Deposit
$5	$0
Trading Platforms
MT4 MT5 TradingCentral	MT4 MT5 cTrader TradingView AutoChartist DupliTrade Quantower
Payment Methods
Apple Pay Credit Card Debit Card Google Wallet M-Pesa Neteller Perfect Money Skrill TransferWise Visa Wire Transfer	Apple Pay BPAY Credit Card Debit Card Google Wallet Mastercard Neteller PayPal PIX Payment POLi Skrill UnionPay Visa Wire Transfer
Minimum Trade
0.01 Lots	0.01 Lots
Regulator
ASIC, CySEC, DFSA, IFSC	FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
Margin Trading
Yes	Yes
Margin Rate
0.2%
STP Account
Yes	Yes
ECN Account
No	Yes
DMA Account
No	Yes
MAM Account
No	Yes
PAMM Account
No	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
Yes	No
P2P Trading
No	No
Spot Trading
Yes	Yes
Mobile Apps
iOS, Android & Windows	iOS & Android
App Review
XM offer a mobile app for both Android and iOS that has been specifically tailored to each platform, maximizing the functionality of both. The app delivers the MT4 and MT5 software on the move, with full access to the broker’s 1,000+ instruments. Where they shine is their dependability with minimal glitches and delays during testing. The built-in news, trading journal and push notifications also ensure you have everything you need to day trade from your hand.	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.
Android App Rating
3.9	4.1
iOS App Rating
4.7	4.4
Auto Trading
Expert Advisors (EAs) on MetaTrader	Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes	Yes
Copy Trading Platform
XM offers copy trading through its intuitive app with exclusive crypto pairs. XM global offers a pre-integrated signals service via the MT5 platform. Aspiring investors can view detailed performance metrics and copy the trades of strategy managers. It's easy to set up, only requiring a handful of steps after logging in to your MQL5 community account.	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
Yes	No
Trade Signals
Yes	Yes (Via Chartist Software)
VPS Hosting
Yes	Yes
Tournaments
Yes	No
Demo Competitions
Yes	No
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Inactivity Fee
$5	$0
Islamic Account
Yes	Yes
Account Currencies
USD EUR GBP JPY	USD EUR GBP CAD AUD NZD JPY CHF HKD SGD
Stock Exchanges
Australian Securities Exchange (ASX) Borsa Italiana CAC 40 Index France DAX GER 40 Index Deutsche Boerse Dow Jones Euronext FTSE UK Index Hang Seng IBEX 35 Japan Exchange Group Nasdaq Russell 2000 S&P 500 SIX Swiss Exchange	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
Commodities
Cocoa Coffee Copper Corn Cotton Gold Natural Gas Oil Palladium Platinum Silver Soybeans Sugar Wheat	Aluminium Cocoa Coffee Copper Corn Cotton Gasoline Gold Livestock Natural Gas Nickel Oil Orange Juice Palladium Platinum Precious Metals Silver Soybeans Sugar Wheat Zinc
CFD Trading
XM delivers for CFD traders with flexible leverage and a huge range of markets, including bespoke thematic indices for exposure to popular sectors like artificial intelligence. The MT4/MT5 platforms are also fast and dependable while a free VPS is available to qualifying XM traders running algo trading strategies.	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.
Leverage
1:1000	1:30 (Retail), 1:500 (Pro)
FTSE Spread
1.4	1.0
GBPUSD Spread
0.8	0.4
Oil Spread
0.03	2.5
Stocks Spread
0.002	0.02
Forex Trading
XM offers a strong selection of currency pairs with no re-quotes or hidden charges, while spreads have come down over the years, now starting from 0.8 pips on the EUR/USD in the commission-free account.	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.
Forex App
XM offer a mobile app for both Android and iOS that has been specifically tailored to each platform, maximizing the functionality of both. The app delivers the MetaTrader 4 and MetaTrader 5 platforms in your hand, with full forex trading and charting capabilities.	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
0.8	0.4
EURUSD Spread
0.8	0.1
EURGBP Spread
1.5	0.4
Assets
55+	100+
Currency Indices
USD	USD EUR JPY
Cryptocurrency
XM offers a handful of cryptocurrencies against the USD via the South African entity only. These are tradable via CFDs with very high leverage up to 1:500, amplifying potential returns but also losses. You can day trade major tokens like Bitcoin, Ethereum and Ripple, though the suite of tokens trails the 120+ crypto derivatives at Eightcap.	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.
Spread
Variable	BTC 30, ETH 0
Coins
BTC ETH LTC XRP BCH	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. 81.8% of retail investor accounts lose money when trading CFDs.