Oanda vs. Pepperstone

Canadian-based broker Oanda and its Australian competitor Pepperstone present well-regulated environments with growing client bases. Oanda developed its proprietary trading platform for manual traders but also offers MT4. Pepperstone presents MT4, MT5, and cTrader. Both brokers have an extensive upgrade suite for MT4, creating two of the best trading experiences with 28 plugins at each broker.

Both brokers maintain a low-cost price structure, but Pepperstone takes the lead in the overall core trading environment amid a notably broader choice of trading instruments, higher leverage, and third-party social trading providers.

Beginner traders get a more in-depth educational platform at Pepperstone versus Oanda, but the available market commentary and research rank similarly. Live webinars are available at Oanda and Pepperstone alike. We have conducted an in-depth review of Oanda and Pepperstone to determine which one presents the better overall choice and from which traders will benefit the most.

Features and Platforms

Features & PlatformsOanda (visit site)Pepperstone (visit site)
XTBcoinbase
Headquarter:CanadaAustralia
Established :
19962010
Retail Loss Rate:
76.60%79.05%
Regulation:
Minimum Deposit:
$100$200
Demo Account:
Managed Account:
Islamic Account:
Inactivity Fee
Deposit Fee:
Withdrawal Fee
Third-PartyThird-Party
Funding Methods:
3-5 (dependent on geographic location)8
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 ToolsExcellent MT4 Upgrade with 28 Tools
Unique Feature Two:
VPS, Autochartist, and TradingViewVPS hosting and Autochartist
Broker Offers:

Noteworthy:

Pepperstone grants algorithmic traders an edge amid higher leverage and faster order execution, but the Oanda proprietary trading platform is beneficial to manual traders.

Available Markets

Available MarketsOandaPepperstone
Currency Pairs:
Cryptocurrency Pairs:
Commodities and Metals:
Indices:
Equities:
Bonds:
ETFs:
Options, Futures, and Synthetics:
Maximum Retail Leverage:
Between 1:10 to 1:501:500
Maximum Pro Leverage:
1:1001:500

Oanda offers broader exposure to the Forex market with more currency pairs than Pepperstone, but Pepperstone also includes three currency indices. The absence of equity CFDs at Oanda is notable, while Pepperstone presents a well-balanced choice, including in-demand ETFs. Neither broker offers cryptocurrency traders a broad selection of trading instruments.

Typical Spreads and Fees

Typical Spreads & FeesOandaPepperstone
Minimum Raw Spreads:
0.0 pips0.0 pips
Minimum Standard Spreads:
0.6 pips0.6 pips
Minimum Commission for Forex:
$5.00 per round lot$6.00 per round lot
Commission for CFDs/DMA:
Not applicable$7.00 per round lot
Commission Rebates:
YesYes
Execution Type:
Market Maker/ECN HybridECN/NDD

Oanda and Pepperstone offer traders a low-cost commission-based pricing structure, where the former maintains a minor advantage. Once traders consider swap rates on leveraged overnight positions, Pepperstone presents cheaper overall trading costs, as Oanda levies higher financing costs plus administrative fees on select trading instruments.

Security and Trust

Oanda

Country of the RegulatorName of the RegulatorLicense Number
Canada
Investment Industry Regulatory Organization of Canada (IIROC)Undisclosed
US
US Securities and Exchange Commission (SEC)Undisclosed
UK
Financial Conduct Authority (FCA)542574
Australia
Australian Securities and Investments Commission (ASIC)412981
Japan
Japan Securities Dealers Association (JSDA)2137
Singapore
Monetary Authority of Singapore (MAS)CMS100122-4

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 Licence No.128
UK
Financial Conduct AuthorityFCA Registration Number 684312

Negative balance protection exists at both brokers. Oanda and Pepperstone also segregate client deposits from corporate funds and have a clean regulatory track record.

Oanda vs Pepperstone – Verdict

Oanda

ProsCons
Excellent 28-tool MT4 upgrade packageLimited asset selection with equities missing
Trustworthy broker with more than 25 years of experienceNo modern payment processors
Competitive pricing environment
Quality market commentary on the Oanda blog MarketPulse

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

Oanda presents Forex scalpers with a competitive offer, but Pepperstone offers more balance for all strategies. The asset selection, order execution, and leverage remain superior at Pepperstone versus Oanda, where beginners also get more education.

Read full Oanda Review

FAQs

Which broker is better than Pepperstone?

Pepperstone ranks among the most competitive brokers, suitable for all traders./p>

Is Oanda the best broker?

Oanda maintains a well-balanced trading environment but does not rank among the best brokers.

Is Oanda a good broker for beginners?

While Oanda maintains educational content, it does not provide in-depth topics but suffices as a low-level introduction. Pepperstone counters with a higher-quality approach, making it a better choice for beginner traders.

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