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
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- Pepperstone versus CMC Markets - Verdict
Features and Platforms
| Features & Platforms | Pepperstone (visit site) | CMC Markets (visit site) |
 |  | |
| Headquarter: | Australia | UK |
Established : | 2010 | 1989 |
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-Party | Third-Party |
Funding Methods: | 8 | 4 |
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 plugins | Outstanding asset selection |
Unique Feature Two: | VPS, Autochartist, and TradingView | In-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 Markets | Pepperstone | CMC Markets |
| Currency Pairs: | ||
Cryptocurrency Pairs: | ||
Commodities and Metals: | ||
Indices: | ||
Equities: | ||
Bonds: | ||
ETFs: | ||
Options, Futures, and Synthetics: | ||
Maximum Retail Leverage: | 1:500 | 1:30 |
Maximum Pro Leverage: | 1:500 | 1:500 |
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 & Fees | Pepperstone | CMC Markets |
Minimum Raw Spreads: | 0.0 pips | Not applicable |
Minimum Standard Spreads: | 0.6 pips | 0.7 pips |
Minimum Commission for Forex: | $6.00 per round lot | Commission-free |
Commission for CFDs/DMA: | $7.00 per round lot | 0.10% or $0.02/share (US) |
Commission Rebates: | Yes | Yes |
Execution Type: | ECN/NDD | Market 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 Regulator | Name of the Regulator | License Number |
Australia | Australian Securities & Investments Commission | AFSL No.414530 |
Bahamas | Securities Commission of The Bahamas | License Number SIA-F217 |
Cyprus | Cyprus Securities and Exchange Commission | License Number 388/20 |
Dubai | Dubai Financial Services Authority | License Number F004356 |
Germany | Federal Financial Supervisory Authority | HRB 91279 |
Kenya | Capital Markets Authority | CMA License No.128 |
UK | Financial Conduct Authority | FCA Registration Number 684312 |
CMC Markets
| Country of the Regulator | Name of the Regulator | License Number |
UK | Financial Conduct Authority | FCA Registration Number 173730 and 170627 | Germany | Federal Financial Supervisory Authority | HRB 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
| Pros | Cons |
| Excellent choice of trading platforms consisting of MT4/MT5, and cTrader | Minimum 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
| Pros | Cons |
| 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.