WhichBrokerHead to head · data verified August 2026
Pepperstone vs XM
Pepperstone wins our overall scoring by 0.7 points, but XM still takes specific profiles.
Pillar scores
Side by side
| Criterion | Pepperstone | XM |
|---|---|---|
| Overall score | 8.9 | 8.2 |
| Founded | 2010 | 2009 |
| Regulation | ASIC (AU), FCA (UK), CySEC (EU), DFSA (AE), BaFin (DE) | CySEC (EU), ASIC (AU), DFSA (AE), FSC (BZ) |
| Min. deposit | $0 (recommended $200+) | $5 |
| Fees | Razor account: spreads from 0.0 pips + ~$3.50/lot commission; Standard: from 1.0 pip, no commission | Ultra Low account: spreads from 0.6 pips, no commission; Zero account: from 0.0 pips + commission |
| Platforms | MetaTrader 4, MetaTrader 5, cTrader, TradingView | MetaTrader 4, MetaTrader 5, XM mobile app |
| Markets | 1,200+ instruments: forex, indices, shares, commodities, crypto CFDs | 1,000+ instruments: forex, stock CFDs, indices, commodities, metals, energies |
| Demo account | Yes | Yes |
| Best for | Active forex traders, Scalpers & algo traders | Bonus seekers, Small starting balances, Emerging markets |
Our verdict
Choose Pepperstone if you want active forex traders · scalpers & algo traders — its standout pillar in our scoring is platforms.
Choose XM if you want bonus seekers · small starting balances · emerging markets.
Frequently asked questions
Which is better, Pepperstone or XM?
Pepperstone scores higher overall in our methodology (8.9 vs 8.2). XM can still be the better pick for bonus seekers.
Is Pepperstone safe?
Pepperstone is overseen by ASIC (AU), FCA (UK), CySEC (EU), DFSA (AE), BaFin (DE). Our trust score for it is 8.9/10 — see the full Pepperstone review for the reasoning.
Is XM safe?
XM is overseen by CySEC (EU), ASIC (AU), DFSA (AE), FSC (BZ). Our trust score for it is 8.0/10 — see the full XM review for the reasoning.