Pepperstone vs XM Comparison: Which Is Better for Traders?
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Who is better - Pepperstone or XM?
Our pick: XM
Based on multiple factors - spreads and fees, available assets and instruments, execution quality, platform usability, support level, and educational resources - XM looks preferable to Pepperstone.
XM scored 4.7/5 and ranks 2 in our all Forex brokers list, whereas Pepperstone has 4.6/5 and ranks 7.
This is not financial advice. See the full comparison below.
Who is Pepperstone suitable for?
Pepperstone suits traders seeking a wide choice of platforms, tight spreads, and numerous trading instruments.
Who is XM suitable for?
Broker XM is suitable for both novice traders, thanks to educational materials, and experienced traders who value a variety of instruments.
Comparison Table of Pepperstone and XM
| Broker | Pepperstone | XM |
|---|---|---|
| Rating | 4.6/5 | 4.7/5 |
| Foundation Year | 2010 | 2009 |
| Regulated in Countries | Australia, Bahamas, Cyprus, United Arab Emirates, Germany, Kenya, United Kingdom | Belize, Cyprus, Australia, South Africa, United Arab Emirates, Mauritius, Seychelles |
| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:500 | 1:1000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | Pepperstone Review | XM Review |
Pepperstone Review
Pepperstone is a significant and reliable broker that offers a broad range of trading instruments and attractive trading conditions. With regulation by serious authorities, clients can be confident in the security of their funds.
The broker is suitable for various types of traders. Beginners will find extensive educational materials, including trading guides, webinars, instructional videos, and Forex trading courses. Experienced traders will also appreciate Pepperstone's opportunities, including favorable trading conditions, various trading platforms, and access to complex trading instruments.
The broker's technical support operates at a high level, offering clients quick and efficient responses to any questions.
Pepperstone is an excellent choice for traders of all experience levels. With a unique combination of educational materials, trading tools, and high-quality customer service, this broker ensures excellent conditions for successful trading.
Pros and Cons of Pepperstone
Pros
- Wide selection of trading platforms.
- Tight spreads and favourable trading conditions.
- Numerous regulatory licenses.
- A large number of trading assets.
Cons
- Lack of diversity in types of trading accounts.
Pepperstone is in the top 10 of the following ratings:
XM Review
XM broker offers a wide range of services, making it an attractive option for various traders. With over 1500 trading instruments, extensive educational resources, and numerous trading platforms, XM is ideally suited for beginners and experienced traders. Novice traders will particularly appreciate the accessible educational materials and low entry threshold, while professionals will find the competitive spreads and diversity of instruments appealing.
Pros and Cons of XM
Pros
- Wide range of trading assets.
- Extensive educational resources.
- Tight spreads on the Ultra Low account.
- Many analytical materials.
- Commission-free deposits and withdrawals.
Cons
- Inactivity fee.
- Standard account has a higher spread than the market average.
XM is in the top 10 of the following ratings:
Reliability
| Broker | Pepperstone | XM |
|---|---|---|
| Reliability | 5/5 | 5/5 |
| Foundation Year | 2010 | 2009 |
| Regulated in Countries | Australia, Bahamas, Cyprus, United Arab Emirates, Germany, Kenya, United Kingdom | Belize, Cyprus, Australia, South Africa, United Arab Emirates, Mauritius, Seychelles |
| Regulators |
Pepperstone
Pepperstone is regulated in seven different jurisdictions, indicating a high level of reliability and regulation.
XM
XM is a reliable and well-regulated broker with licenses in key jurisdictions. Segregated accounts, negative balance protection, and a compensation fund make it a safe choice for traders.
Pros
- Licenses from ASIC, CySEC, DFSA, and other regulators
- Segregation of client funds
- Negative balance protection and compensation scheme
Account Opening
| Broker | Pepperstone | XM |
|---|---|---|
| Account Opening | 5/5 | 5/5 |
| Minimum Deposit |
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Pepperstone
The account opening process is straightforward, convenient, and fast.
XM
Opening an account with XM is fast and convenient: registration takes only a few minutes, the interface is intuitive, and document requirements are standard.
Pros
- Fast online registration
- Clear and straightforward KYC process
- Ability to open demo and additional accounts
Account Types
| Broker | Pepperstone | XM |
|---|---|---|
| Account Types | 3.8/5 | 4.5/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:500 | 1:1000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
Pepperstone
Pepperstone's account types meet the needs of most traders, though they lack variability.
Pros
- The ability to copy trades.
- Support for VPS hosting.
Cons
- Lack of cent accounts.
- No fixed spread accounts.
XM
XM broker offers various account types to satisfy the needs of different traders, from beginners to professionals.
Pros
- A wide choice of accounts for different experience levels
- Flexible trading conditions (leverage, deposit)
- Specialized accounts for stock trading
Cons
- No ECN or STP accounts
Commissions
| Broker | Pepperstone | XM |
|---|---|---|
| Commissions | 4/5 | 4/5 |
| Spread | from 0 points | from 0 points |
| Average Spread (EURUSD) | 1.15 | 1.7 |
| Commission per Lot | $3.5 |
Pepperstone
Pepperstone does not charge an inactivity fee or withdrawal fees, which is an essential advantage for traders. As for trading commissions, the broker offers competitive conditions.
XM
XM’s fees can be considered competitive: the Ultra Low account offers reduced spreads, while the absence of deposit and withdrawal fees lowers overall costs. With active trading, the conditions are attractive.
Pros
- Reduced spreads on the Ultra Low account
- No deposit or withdrawal fees
- Ability to lower costs through rebates
Cons
- Above-average spreads on the Standard account
- Inactivity fee applies
Deposit and Withdrawal
| Broker | Pepperstone | XM |
|---|---|---|
| Rating | 4.5/5 | 4.5/5 |
| Account Funding Methods |
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Pepperstone
Account funding and withdrawal processes at Pepperstone are pretty convenient and fast.
Pros
- Multiple available deposit methods.
- No deposit fee.
- Swift transaction processing.
Cons
- Bank fees for withdrawals.
XM
The broker offers convenient deposit and withdrawal methods with zero commission but lacks cryptocurrency support.
Pros
- Zero commission for deposits and withdrawals
- A minimum limit of only 5 dollars
- Quick processing of withdrawal requests
Cons
- No cryptocurrency deposit/withdrawal options
Markets and Products
| Broker | Pepperstone | XM |
|---|---|---|
| Markets and Products | 5/5 | 5/5 |
| Forex | 97 | 55 |
| Precious Metals | 20 | 3 |
| Energy Carriers | 4 | 3 |
| Soft Commodities | 16 | 8 |
| Indices | 26 | 50 |
| Stocks | 986 | 1307 |
| ETF | 108 | - |
| Cryptocurrency | 30 | 58 |
Pepperstone
The broker utilizes services from several tier-one liquidity providers to offer clients competitive quotes with low spreads and high liquidity across various instruments.
XM
The broker offers a wide range of markets and products, including over 1500 items.
Pros
- A large selection of currency pairs
- Access to CFDs on various assets
- The ability to trade cryptocurrencies
Trading Platforms
| Broker | Pepperstone | XM |
|---|---|---|
| Rating | 5/5 | 4.5/5 |
| Trading Platforms |
|
|
Pepperstone
Pepperstone offers a wide selection of high-quality and functional trading platforms, making it attractive to many investors.
XM
XM offers various versions of MT4 and MT5 platforms, providing flexibility in trading.
Pros
- Availability on various devices (PC, Mac, mobile)
- MultiTerminal for managing multiple accounts
- WebTrader for browser-based trading
Cons
- No alternatives to MetaTrader
Analytics
| Broker | Pepperstone | XM |
|---|---|---|
| Rating | 5/5 | 5/5 |
Pepperstone
Pepperstone has a well-developed analytical department, which includes daily market reviews, an economic calendar, the powerful automatic market analysis tool Autochartist, and convenient calculators for traders.
XM
XM’s analytics are well structured and deeply integrated into the platform. Trading Central, market sentiment tools, calendars, and calculators make them useful for both active trading and careful pre-trade analysis.
Pros
- Trading Central integration and XM in-house analysis
- Economic calendar, corporate events, and calculators
- Clear market sentiment tools
Education
| Broker | Pepperstone | XM |
|---|---|---|
| Rating | 5/5 | 5/5 |
Pepperstone
Pepperstone greatly emphasizes the educational component, offering a broad spectrum of instructional materials and resources.
XM
XM's educational materials are extensive and varied, suitable for all experience levels.
Pros
- A wide range of materials: webinars, videos, seminars
- Available in different languages
- Daily online sessions with experts
Customer Support
| Broker | Pepperstone | XM |
|---|---|---|
| Rating | 5/5 | 5/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
Twitter
Facebook
Instagram
LinkedIn
YouTubePepperstone
Pepperstone's support service provides clients with various communication channels, prompt responses, professionalism, and efficiency in problem-solving.
XM
XM’s customer support operates reliably 24/7, offering multiple contact channels and multilingual assistance. Most issues are resolved quickly and professionally, which supports the broker’s high service rating.
Pros
- 24/7 support via chat, email, phone, and messengers
- Multilingual assistance
- Strong knowledge of products and procedures
Comparisons of Pepperstone and XM with other brokers
Conclusion
XM stands out as the better overall pick, while Pepperstone trails on aggregate criteria.
XM scored 4.7/5 and ranks 2 in our rating; Pepperstone has 4.6/5 and ranks 7.
We explain the reasons above in detail — fees, platforms, reliability, support, and more.
FAQ
Which broker is better: Pepperstone or XM?
XM comes out ahead by overall rank (score 4.7/5, position 2) versus Pepperstone (score 4.6/5, position 7).
Which broker is better for beginners: Pepperstone or XM?
XM is often a smoother start thanks to simpler onboarding and stronger baseline metrics. Still, your tools and budget should drive the final choice.
Who has lower typical trading costs (spreads/commissions) — Pepperstone or XM?
It depends on the instrument and account type. Compare the live conditions in the “Commissions” section on this page — we break down the nuances category by category.
What trading platforms are available with Pepperstone and XM?
Pepperstone: MetaTrader 5, MetaTrader 4, cTrader, TradingView. XM: MetaTrader 5, MetaTrader 4, WebTrader. See the “Platforms” section for details and selection tips.
What markets can you trade with Pepperstone and XM?
Pepperstone: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, ETF, Cryptocurrency. XM: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, Cryptocurrency. Full lists and differences are in the “Markets” section.
What account types are offered by Pepperstone and XM?
Pepperstone: Standard, Razor. XM: Standard, Micro, XM Ultra Low, Shares. See “Account Types” for a side-by-side comparison.
What deposit and withdrawal methods are supported by Pepperstone and XM?
Pepperstone: Neteller, PayPal, Skrill, Swift, Visa, Mastercard. XM: Neteller, Skrill, SticPay, Swift, Visa, Mastercard. Check method-specific fees/settlement times.
Which broker is safer — Pepperstone or XM — and how was this assessed?
We consider regulation, corporate transparency, fund protection, and incident history. See the “Reliability” section for our findings.
