XM vs Pepperstone
Trying to choose between XM and Pepperstone for your trading? This is our broker comparison between XM and Pepperstone, examining regulation and safety, spreads and commissions, platforms and tools, tradable instruments, funding and withdrawals, plus other key factors presented side by side.
Who is XM?
XM is a globally established forex and CFD broker founded in 2009, offering a wide selection of trading instruments across multiple asset classes. The broker is regulated in several key jurisdictions and is widely recognized for its client-centric approach, educational resources, and competitive trading conditions. The official website of XM is www.xm.com.
The minimum deposit to open an account with XM is $5.
Who is Pepperstone?
Pepperstone is a globally respected forex and CFD broker founded in 2010, in Australia. Regulated by multiple top-tier authorities, the broker is known for its ultra-low spreads, fast execution speeds, and a strong focus on providing a high-performance trading environment. The official website of Pepperstone is www.pepperstone.com.
The minimum deposit required to start trading with Pepperstone is $0.
XM vs Pepperstone Side-by-Side Comparison
XM, founded in 2009, is a regulated broker licensed by the CySEC (Cyprus), FSC (Belize), FSA (Seychelles), DFSA (UAE) and FSC (Mauritius) and maintains local offices in Limassol, Athens, Dubai and Cape Town. The broker supports trading through several trading platforms, including MT4, MT5 and XM App.
To open an account, XM requires a minimum deposit of $5 and the account base currencies include USD, EUR, JPY, GBP, AUD, CHF, ZAR, HUF, SGD and PLN. Notably, XM operates under a B-Book (market maker) model and supports copy trading through XM Copy Trading (available outside EEA). For deposits and withdrawals, clients can use various payment options, including credit and debit cards, international wire transfers, local transfers and e-wallets (Skrill, Neteller, etc.).
In contrast, Pepperstone, established in 2010, is regulated by the ASIC (Australia), FCA (United Kingdom), CySEC (Cyprus), BaFin (Germany), DFSA (Dubai, UAE), CMA (Kenya) and SCB (Bahamas) and has local offices in Melbourne, London, Düsseldorf, Dubai, Limassol, Nassau and Nairobi. The broker supports various trading platforms, which include MT4, MT5, cTrader, TradingView and Pepperstone App.
The minimum deposit accepted by Pepperstone is $0 and the account base currencies include USD, EUR, GBP, CAD, CHF, NZD, SGD, HKD, AUD and JPY. Pepperstone operates using an A-Book / ECN / No-dealing-desk model and supports copy trading through various platforms, which include CopyTrading by Pepperstone, DupliTrade, cTrader Copy, Signal Start. Deposits and withdrawals at Pepperstone can be made via credit & debit cards (Visa/Mastercard), bank transfers, e-wallets (PayPal, Neteller, Skrill), Apple Pay, Google Pay, UnionPay and crypto.
XM vs Pepperstone Market Instruments
XM provides access to 1,400+ instruments, including CFDs on forex, stocks, equity indices, themathic indices, commodities and cryptocurrencies. By the numbers, XM's instrument lineup includes 40+ forex pairs, 1,000+ stocks, 20+ indices, 30+ commodities, and 10+ crypto pairs (cryptos are available only outside EEA).
Pepperstone, by comparison, offers 1,400+ products, with CFDs on forex, indices, shares, commodities, etfs and cryptocurrencies. Pepperstone's collection of products features 90+ forex pairs, 1,100+ stocks, 20+ indices, 40+ commodities, and 20+ crypto pairs.
XM vs Pepperstone Account Types
XM vs Pepperstone Spreads Comparison
This comparison focuses on minimum and average spreads for standard accounts at XM and Pepperstone. Actual spreads change with market conditions and account type, so it is best to confirm live pricing on each broker’s website before trading.
Minimum spreads: For EUR/USD, XM quotes a minimum spread of 1.6 pips compared with 1.0 pips at Pepperstone. For GBP/USD, it is 1.8 pips at XM versus 1.0 pips at Pepperstone. On USD/CAD, the figures are 2.3 pips at XM and 1.1 pips at Pepperstone, while CAD/JPY is 3.4 pips at XM against 1.2 pips at Pepperstone.
For metals and energies, XAU/USD (gold) starts from $0.3 at XM vs $0.05 at Pepperstone, and WTI crude oil from $0.03 at XM vs $0.02 at Pepperstone. For crypto, Bitcoin is listed with a minimum spread of $60 at XM vs $14 at Pepperstone.
Average spreads: EUR/USD averages 2.0 pips at XM versus 1.1 pips at Pepperstone, GBP/USD averages 2.4 pips at XM against 1.3 pips at Pepperstone, and XAU/USD averages $0.45 at XM versus $0.15 at Pepperstone.
XM vs Pepperstone Minimum Spreads Comparison
XM vs Pepperstone Average Spreads Comparison
Costs on Raw/Zero Spread Account
This comparison focuses on trading costs for raw/zero spread accounts at XM and Pepperstone. With raw pricing, spreads can be extremely tight, and commissions become the main component of the round-turn cost. Because spreads move with market volatility and liquidity, always check the brokers’ websites for the latest figures.
XM quotes a minimum spread of 0.0 pips and charges a commission of $3.5 per side per lot (a zero spread account is available only in EEA countries). Contrarily, Pepperstone shows a minimum spread of 0.0 pips with a commission of $3.5 per side per lot.
Other Features
XM vs Pepperstone: Wrapping Up the Comparison
XM and Pepperstone are established global brokers, launched in 2009 and 2010, respectively. XM is regulated by the CySEC (Cyprus), FSC (Belize), FSA (Seychelles), DFSA (UAE) and FSC (Mauritius), while Pepperstone operates under the regulation of the ASIC (Australia), FCA (United Kingdom), CySEC (Cyprus), BaFin (Germany), DFSA (Dubai, UAE), CMA (Kenya) and SCB (Bahamas).
On another note, the minimum deposit is $5 at XM versus $0 at Pepperstone. For EUR/USD, the minimum spread is 1.6 pips at XM compared with 1.0 pips at Pepperstone. For the same pair, the average spreads are 2.0 pips and 1.1 pips, respectively. Both brokers provide a Standard account and a raw/zero spread account (but at XM zero account is only available in the EEA). XM also provides Ultra Low and Shares among its account options, while Pepperstone does not add additional account choices beyond its core lineup. Both make demo accounts available and support an Islamic (swap-free) option.
Both brokers also offer various trading platforms, supporting flexibility. XM supports MT4, MT5 and XM App, and Pepperstone offers MT4, MT5, cTrader, TradingView and Pepperstone App. Copy trading is available on both, including XM Copy Trading (available outside EEA) for XM and CopyTrading by Pepperstone, DupliTrade, cTrader Copy, and Signal Start for Pepperstone. In terms of market depth, both brokers provide access to 1,400+ instruments, which are all CFDs.
In short, XM is suited for traders who value a more sophisticated educational centre with daily webinars and global support available in over thirty languages, while Pepperstone stands out with competitive spreads on its Standard account, the option of raw spreads on its Razor account, and stronger platform choices.
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