Pepperstone versus CMC Markets

Pepperstone and CMC Markets, headquartered in Australia and the UK, are two established and well-trusted brokers. Pepperstone has one of the most competitive MT4/MT5 trading environments due to the Smart Trader Tools upgrade. It also features cTrader, while CMC Markets presents its cutting-edge proprietary web-based trading platform and the out-of-the-box MT4.

Trading costs at both brokers remain competitive, but Pepperstone takes the lead in its commission-based account, especially for active traders, due to its volume-based rebate program. CMC Markets offers a broader asset selection, but Pepperstone grants higher leverage and third-party social trading providers.

Both brokers offer beginners a high-quality educational section, but CMC Markets takes the lead in this category amid a more in-depth approach aided by superior research.

We have conducted an in-depth review of Pepperstone and CMC Markets to determine which one presents the better overall choice and which traders will benefit the most at either broker.

Features and Platforms

Features & PlatformsPepperstone (visit site)CMC Markets (visit site)
pepperstoneCMC Markets
Headquarter:AustraliaUK
Established :
20101989
Retail Loss Rate:
79.05%72.00%
Regulation:
Minimum Deposit:
$200$0
Demo Account:
Managed Account:
Islamic Account:
Inactivity Fee
$15 monthly after 12 months
Deposit Fee:
Withdrawal Fee
Third-PartyThird-Party
Funding Methods:
84
MT4:
MT5:
cTrader:
Proprietary Platform:
Automated Trading:
Social / Copy Trading:
MT4/MT5 Add-ons:
Guaranteed Stop Loss:
Negative Balance Protection:
Bonuses and Promotions:
Unique Feature One:
Excellent MT4 upgrade with 28 pluginsOutstanding asset selection
Unique Feature Two:
VPS, Autochartist, and TradingViewIn-depth educational content
Broker Offers:

Noteworthy:

Pepperstone offers algorithmic traders, scalpers, and high-frequency traders better conditions through higher leverage and lower costs, while CMC Markets shines with its wide asset selection.

Available Markets

Available MarketsPepperstoneCMC Markets
Currency Pairs:
Cryptocurrency Pairs:
Commodities and Metals:
Indices:
Equities:
Bonds:
ETFs:
Options, Futures, and Synthetics:
Maximum Retail Leverage:
1:5001:30
Maximum Pro Leverage:
1:5001:500

Pepperstone maintains a well-balanced asset selection suitable for all traders and small asset managers, but CMC Markets offers a notably broader choice of trading instruments. With 330+ currency pairs, CMC Markets is one of the widest Forex brokers industry wide. Neither broker presents a deep cryptocurrency selection but both offer traders quality cross-asset diversification.

Typical Spreads and Fees

Typical Spreads & FeesPepperstoneCMC Markets
Minimum Raw Spreads:
0.0 pipsNot applicable
Minimum Standard Spreads:
0.6 pips0.7 pips
Minimum Commission for Forex:
$6.00 per round lotCommission-free
Commission for CFDs/DMA:
$7.00 per round lot0.10% or $0.02/share (US)
Commission Rebates:
YesYes
Execution Type:
ECN/NDDMarket Maker

Trading costs at Pepperstone and CMC Markets remain competitive, but Pepperstone presents an overall lower pricing environment.

Security and Trust

Pepperstone

Country of the RegulatorName of the RegulatorLicense Number
Australia
Australian Securities & Investments CommissionAFSL No.414530
Bahamas
Securities Commission of The BahamasLicense Number SIA-F217
Cyprus
Cyprus Securities and Exchange CommissionLicense Number 388/20
Dubai
Dubai Financial Services AuthorityLicense Number F004356
Germany
Federal Financial Supervisory AuthorityHRB 91279
Kenya
Capital Markets AuthorityCMA License No.128
UK
Financial Conduct AuthorityFCA Registration Number 684312

CMC Markets

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Country of the RegulatorName of the RegulatorLicense Number
UK
Financial Conduct AuthorityFCA Registration Number 173730 and 170627
Germany
Federal Financial Supervisory AuthorityHRB 154814

Pepperstone and CMC Markets segregate client deposits from corporate funds and offer negative balance protection. Select operating subsidiaries additionally offer an investor compensation fund, and both brokers maintain a clean regulatory track record. CMC Markets is a publicly listed company in the UK and a member of the FTSE 250 index.

Pepperstone vs CMC Markets – Verdict

Pepperstone

ProsCons
Excellent choice of trading platforms consisting of MT4/MT5, and cTraderMinimum deposit slightly higher but within a reasonable range
Market-leading MT4/MT5 upgrade package, Autochartist, and API trading
Social trading support via Myfxbook, MetaTrader Signals, and DupliTrade
Leverage of up to 1:500 and superb trade execution

CMC Markets

ProsCons
Cutting-edge proprietary trading platform for manual traders Low leverage for retail traders
Excellent asset selection and leading Forex broker with 330+ currency pairs
In-depth educational platform for beginner traders and quality research
Publicly listed company with a clean track record and decades of experience

Pepperstone provides traders with one of the most competitive MT4/MT5 trading environments, while CMC Markets has one of the broadest asset selection available to Forex traders. The lower trading costs, higher leverage, and value-added services make Pepperstone a superior choice for most Forex traders. CMC Markets maintains an edge in overall asset selection.

FAQs

Are CMC Markets Good?

CMC Markets is an overall good broker, especially for manual equity and Forex traders from its cutting-edge proprietary trading platform.

Is Pepperstone a good broker?

Pepperstone presents excellent conditions for high-frequency, high-volume traders, and scalpers. It maintains one of the most competitive MT4/MT5 environments, low costs, high leverage, and fast order execution.

Is CMC good for beginners?

CMC Markets offers beginner traders a high-quality educational platform, ideal for beginner traders.

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