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Pepperstone vs FP Markets (2026): Which Broker Is Actually Better?
We compare Pepperstone against FP Markets across spreads, regulations, platforms, and trading costs. Read our algorithmic breakdown and expert verdict to find out which broker suits your trading style in 2026.
Verdict: Pepperstone Wins
After exhaustive side-by-side testing, **Pepperstone** emerges as the overall winner in this matchup. While FP Markets remains an excellent choice for ecn traders, scalpers & australian clients, Pepperstone proves superior due to its top-tier liquidity with frequent 0.0 pip spreads and exceptional platform choice including tradingview and ctrader.
Pepperstone vs FP Markets: Side-by-Side Comparison
| Feature | | |
|---|---|---|
| Founded | 2010 | 2005 |
| Overall Rating | 4.8/5.0 | 4.5/5.0 |
| Minimum Deposit | $0 (Recommended $200) | $100 |
| EUR/USD Spread | 0.0 pips (Razor) | 1.0 pips (Standard) | 0.0 pips (Raw) |
| Maximum Leverage | 1:500 (Pro) | 1:30 (Retail) | 1:500 |
| MetaTrader 4 | Yes | Yes |
| MetaTrader 5 | Yes | Yes |
| cTrader | Yes | Yes |
| TradingView | Yes | No |
| Copy Trading | Yes | Yes |
| Forex Pairs | 60+ | 70+ |
| Deposit Methods | Bank Transfer, Credit/Debit, PayPal, Skrill, Neteller, BPay | Card, Bank, Skrill, Neteller, Crypto |
| Withdrawal Speed | 1-2 business days | Same day to 1 business day |
| Execution Type | NDD & STP | ECN / DMA |
Pepperstone vs FP Markets: Fee Breakdown
When comparing the trading costs between Pepperstone and FP Markets, it's essential to look beyond just the advertised spreads. We must factor in commissions, swap rates, and non-trading fees like deposit or inactivity charges. Pepperstone offers pricing characterized by $3.50/lot (Razor) alongside 0.0 pips (Razor) | 1.0 pips (Standard) spreads. In contrast, FP Markets utilizes a model with $3/lot (Raw) and 0.0 pips (Raw) spreads. For active, high-volume traders, either broker provides the superior cost-efficiency curve.
| Fee Type | Pepperstone | FP Markets |
|---|---|---|
| EUR/USD Spread | 0.0 pips (Razor) | 1.0 pips (Standard) | 0.0 pips (Raw) |
| Commission Defaults | $3.50/lot (Razor) | $3/lot (Raw) |
| Execution Model | NDD & STP | ECN / DMA |
| Deposit Fees | None | None |
| Withdrawal Speed | 1-2 business days | Same day to 1 business day |
Safety & Regulation: Is Pepperstone or FP Markets Safer?
Trust is paramount in forex trading. Both Pepperstone and FP Markets are highly regulated entities, but their jurisdictional footprints differ. Pepperstone is armed with 4 Tier-1 licenses and has been securing client funds since 2010. FP Markets, licensed since 2005, counters with 2 Tier-1 regulatory bodies overseeing its operations. Pepperstone holds a slight edge in absolute tier-1 licenses. Both brokers employ strict client fund segregation.
Pepperstone
Tier 1- Regulators:ASIC (Australia)FCA (UK)CySEC (Cyprus)BaFin (Germany)DFSA (Dubai)
- Investor Protection: Up to €20,000 (CY) / £85,000 (UK)
- Licensed Since: 2010
FP Markets
Tier 1- Regulators:ASIC (Australia)CySEC (Cyprus)SVG FSA
- Investor Protection: Segregated client funds / €20,000 ICF
- Licensed Since: 2005
Platform & Tools Comparison
The software you trade on dictates your execution speed and analytical depth. Both brokers provide industry stalwarts, but divergencies exist. Pepperstone equips its clients with MT4, MT5, cTrader, TradingView. FP Markets, on the other hand, grants access to MT4, MT5, cTrader, IRESS. If you rely on TradingView charting, this section heavily dictates your broker choice.
| Feature | Pepperstone | FP Markets |
|---|---|---|
| MetaTrader 4 | ||
| MetaTrader 5 | ||
| cTrader | ||
| TradingView | ||
| Proprietary Environment | Yes (IRESS) | |
| Copy Trading Network |
Pros & Cons: Pepperstone vs FP Markets
Pepperstone
Pros
- Top-tier liquidity with frequent 0.0 pip spreads
- Exceptional platform choice including TradingView and cTrader
- Award-winning 24/5 customer support
- Deepest liquidity pools for large order execution
- No minimum deposit requirement
Cons
- Educational content is good but not standard-setting
- No proprietary mobile app (relies on MetaQuotes/cTrader apps)
- Lacks robust fixed-spread options
FP Markets
Pros
- True ECN pricing from 0.0 pips
- ASIC and CySEC regulated
- cTrader and IRESS platforms
- Over 10,000 tradable instruments
- Excellent execution speeds
Cons
- $100 minimum deposit
- IRESS platform has additional fees
- Limited educational content
Expert Verdict: Pepperstone vs FP Markets
When we place Pepperstone and FP Markets side-by-side, we observe two distinct philosophies in client servicing. Pepperstone, licensed since 2010, has carved out a massive niche focusing on advanced traders, automated trading & tradingview enthusiasts. Their execution model heavily leans into NDD & STP, and their platform environment highlights MT4.
Conversely, FP Markets, operational out of Sydney, Australia, has architected its infrastructure predominantly for ecn traders, scalpers & australian clients. Their $3/lot (Raw) commission structure combined with 0.0 pips (Raw) spreads makes them a formidable competitor.
The Bottom Line: If your primary directive is top-tier liquidity with frequent 0.0 pip spreads, and you intend to start with a minimum of $0 (Recommended $200), Pepperstone is the logical path forward. If, however, you value true ecn pricing from 0.0 pips and require MT4, FP Markets edges out the competition and earns our recommendation.
Pepperstone vs FP Markets: Frequently Asked Questions
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Risk Warning: Forex and CFD trading involves significant risk of loss. 68–80% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.|Affiliate Disclosure: We may receive compensation from the brokers listed on this page. This does not influence our rankings or reviews, which are based on independent analysis.
Comparison data updated February 2026. Broker terms, spreads, and conditions vary by region and account type. See our methodology | Full Disclaimer | Privacy Policy