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
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- Oanda vs. Pepperstone - Verdict
Features and Platforms
| Features & Platforms | Oanda (visit site) | Pepperstone (visit site) |
 |  | |
| Headquarter: | Canada | Australia |
Established : | 1996 | 2010 |
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-Party | Third-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 Tools | Excellent MT4 Upgrade with 28 Tools |
Unique Feature Two: | VPS, Autochartist, and TradingView | VPS 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 Markets | Oanda | Pepperstone |
| Currency Pairs: | ||
Cryptocurrency Pairs: | ||
Commodities and Metals: | ||
Indices: | ||
Equities: | ||
Bonds: | ||
ETFs: | ||
Options, Futures, and Synthetics: | ||
Maximum Retail Leverage: | Between 1:10 to 1:50 | 1:500 |
Maximum Pro Leverage: | 1:100 | 1:500 |
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 & Fees | Oanda | Pepperstone |
Minimum Raw Spreads: | 0.0 pips | 0.0 pips |
Minimum Standard Spreads: | 0.6 pips | 0.6 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: | Yes | Yes |
Execution Type: | Market Maker/ECN Hybrid | ECN/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 Regulator | Name of the Regulator | License 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 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 Licence No.128 |
UK | Financial Conduct Authority | FCA 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
| Pros | Cons |
| Excellent 28-tool MT4 upgrade package | Limited asset selection with equities missing |
| Trustworthy broker with more than 25 years of experience | No modern payment processors |
| Competitive pricing environment | |
| Quality market commentary on the Oanda blog MarketPulse |
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 |
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.
Pepperstone ranks among the most competitive brokers, suitable for all traders./p>
FAQs
Which broker is better than Pepperstone?
Pepperstone ranks among the most competitive brokers, suitable for all traders.
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.