Pepperstone vs FP Markets
A matchup between two of Australia's finest ECN brokers. Both are ASIC and CySEC regulated, both offer 0.0 pip raw spreads, and both support cTrader. The differences are in the details — TradingView versus Iress, commission rates, and instrument range. We tested both side by side.
Two of the best Australian ECN brokers, nearly identical on paper but with distinct strengths. Both offer 0.0 pip raw spreads, ASIC + CySEC regulation, and cTrader. Pepperstone differentiates with native TradingView integration and DFSA regulation for UAE traders. FP Markets differentiates with 10,000+ instruments, Iress for DMA share CFDs, lower commissions ($3 vs $3.50 per lot), and the industry's highest Trustpilot score (4.7 vs 4.6). This is a tie — Pepperstone for TradingView users, FP Markets for multi-asset traders.
Head-to-Head Comparison
| Feature | Pepperstone | FP Markets |
|---|---|---|
| Score | 4.7/5 | 4.6/5 |
| Min Deposit | $200 | $100 |
| Spreads | 0.0 pips (Razor) | 0.0 pips (Raw) |
| Regulation | FCA, ASIC, CySEC, DFSA, SCB | ASIC, CySEC, FSA |
| Founded | 2010 | 2005 |
| HQ | Australia | Australia |
| Platforms | MT4, MT5, cTrader, TradingView | MT4, MT5, cTrader, Iress |
| Trustpilot | 4.6★ (3,900 reviews) | 4.7★ (7,400 reviews) |
| Islamic Account | Yes | Yes |
Spreads & Fees
Raw spreads are virtually identical between these two brokers — both regularly hit 0.0 pips on EUR/USD during peak liquidity hours. The measurable cost difference is in commissions: FP Markets charges $3 per lot per side versus Pepperstone's $3.50, saving you $1 per round turn. For a trader executing 50 standard lots per month, that is $50 in monthly savings with FP Markets. Both brokers charge no deposit or withdrawal fees on standard methods. FP Markets also edges ahead on Trustpilot with 4.7 stars from 7,400 reviews compared to Pepperstone's 4.6 stars from 3,900 reviews, suggesting marginally higher overall client satisfaction.
Regulation & Safety
Both brokers hold ASIC and CySEC dual regulation — the gold standard for Australian forex brokers. Pepperstone extends further with FCA (UK), DFSA (Dubai), and SCB (Bahamas) licences, giving it broader international reach. FP Markets holds ASIC, CySEC, and FSA (St Vincent). Pepperstone's DFSA licence is a notable advantage for UAE and Gulf traders. Both brokers segregate client funds with major banks and provide negative balance protection. The regulatory edge goes to Pepperstone on breadth, though both meet Tier-1 standards.
Platforms & Tools
Both brokers share MT4, MT5, and cTrader as their core platform lineup. The differentiators are at the edges. Pepperstone offers native TradingView integration, allowing traders to execute directly from TradingView charts — a significant advantage for the millions of traders who use TradingView daily. FP Markets offers Iress, a professional DMA platform for trading share CFDs across the ASX, NYSE, NASDAQ, and LSE with direct market access pricing. This gives FP Markets access to 10,000+ instruments versus Pepperstone's standard CFD range. If charting is your priority, Pepperstone wins. If instrument diversity and share CFDs matter, FP Markets wins.
You chart on TradingView and want to trade directly from it without switching platforms. Pepperstone's native TradingView integration is unique among top-tier brokers. Also the better choice for UAE traders thanks to DFSA regulation.
Open Pepperstone Account →You want the widest possible instrument range with 10,000+ markets, DMA share CFDs via Iress, lower commissions at $3/lot, and the industry's highest Trustpilot rating. FP Markets is the multi-asset trader's broker.
Open FP Markets Account →Can't Decide?
Both are excellent choices
Pepperstone (4.7/5) and FP Markets (4.6/5) are both top-tier brokers. Choose based on your priorities.
We opened live accounts with both brokers, deposited real funds, and tested spreads, execution, and withdrawals over 30 days. Scores are based on our transparent methodology. Last updated: April 2026.
CFDs are complex instruments. 74-89% of retail accounts lose money. Data accurate April 2026.