Compare Brokers
We help you pick the best broker for your needs with our broker comparison tool. Select 2 brokers and see exactly what makes them different.
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XM
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Pepperstone
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XM is a global forex and CFD broker with over 15 million clients in more than 190 countries. Since 2009, it has offered low trading fees on over 1000 instruments. The broker is well-regulated by authorities such as ASIC, CySEC, DFSA, and SCA in the UAE, and provides a full MetaTrader experience. | Founded in Australia in 2010, Pepperstone is a highly-rated forex and CFD broker with over 830,000 global clients. It provides access to 1,400+ instruments on top platforms like MT4, MT5, cTrader, and TradingView, with low, clear fees. Pepperstone is regulated by reputable bodies such as the FCA, ASIC, and CySEC, ensuring a secure trading environment. | |
| Instruments | CFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, Energies | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto (only Pro clients), Spread Betting |
| Demo Account | ✓ | ✓ |
| Minimum Deposit | $5 | $0 |
| Trading Platforms | MT4, MT5, TradingCentral | Pepperstone Trading Platform, MT4, MT5, cTrader, TradingView, AutoChartist |
| Payment Methods | Apple Pay, Credit Card, Debit Card, Google Wallet, M-Pesa, Neteller, Perfect Money, Skrill, TransferWise, Visa, Wire Transfer | Apple Pay, BPAY, Credit Card, Debit Card, Google Wallet, Mastercard, Neteller, PayPal, PIX Payment, Skrill, UnionPay, Visa, Wire Transfer |
| Minimum Trade | 0.01 Lots | 0.01 Lots |
| Regulator | CySEC, DFSA, SCA, FSCA, FSA, FSC Belize, FSC Mauritius, CMA | FCA, ASIC, CySEC, BaFin, DFSA, SCA, CMA, SCB |
| Account Currencies | USD, EUR, GBP, JPY | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
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| Mobile Apps | iOS, Android & Windows | iOS & Android |
| App Review | provides a mobile app for Android and iOS, optimized for each platform. The app offers MT4 and MT5 software, giving full access to over 1,400 instruments. It is reliable with minimal glitches or delays. Features like built-in news, a trading journal, and push notifications provide all necessary trading tools. | Pepperstone stands out for its great integration with MT4, MT5, cTrader, and TradingView apps, making it a top choice for traders familiar with these major platforms. These apps provide a stable, reliable mobile trading experience, boosted by Pepperstone's fast execution speeds and wide asset range. Recent upgrades helped it earn second place in DayTrading.com's annual 'Best Trading App' award for 2025. |
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| Margin Trading | ✓ | ✓ |
| Margin Rate | 0.2% | |
| Account Types | STP | STP, ECN, DMA, MAM, PAMM |
| AI / Machine Learning | ✓ | ✗ |
| Robo Advisor | ✗ | ✗ |
| Negative Balance Protection | ✓ | ✓ |
| Market Maker | ✓ | ✗ |
| P2P Trading | ✗ | ✗ |
| Spot Trading | ✓ | ✓ |
| Auto Trading | Expert Advisors (EAs) on MetaTrader | Expert Advisors (EAs) on MetaTrader |
| Copy Trading | ✓ | ✓ |
| Copy Trading Platform | XM provides copy trading through its user-friendly app, featuring exclusive crypto pairs. XM global also offers a built-in signals service on the MT5 platform. Traders can access detailed performance metrics and replicate the trades of strategy managers. The setup is straightforward, requiring just a few steps after logging into your MQL5 community account. | Pepperstone enables traders to follow strategies of experienced traders via MetaTrader Signals, DupliTrade, and its new copy trading app (available in select regions) in partnership with Pelican Trading, offering access to many skilled traders and customizable risk settings. However, it does not support cTrader Copy, which may discourage users who prefer Spotware's terminal. |
| Social Trading | ✓ | ✗ |
| Trade Signals | ✓ | Yes (Via Chartist Software) |
| VPS Hosting | ✓ | ✓ |
| Tournaments | ✓ | ✗ |
| Demo Competitions | ✓ | ✗ |
| Ethical Investing | ✗ | ✗ |
| Custodial Account | ✗ | ✗ |
| Guaranteed Stop Loss | ✗ | ✗ |
| Inactivity Fee | $5 | $0 |
| Islamic Account | ✓ | ✓ |
CFD Trading | ||
XM provides CFD traders with flexible leverage and a wide range of markets, including custom indices for sectors like artificial intelligence. The MT4/MT5 platforms are fast and reliable, and traders using algorithmic strategies can access a free VPS. | Pepperstone remains a top-notch CFD broker based on our recent tests. The broker offers swift execution speeds averaging 30ms, a high fill rate of 99.90% and over 1,300 assets to trade. This ensures a smooth trading experience without interruptions or the need for re-quotes. | |
| Leverage | 1:10001:30 | 1:30 (Retail), 1:500 (Pro) |
| FTSE Spread | 1.4 | 1.0 |
| GBPUSD Spread | 0.8 | 0.4 |
| Oil Spread | 0.03 | 2.5 |
| Stocks Spread | 0.002 | 0.02 |
Forex Trading | ||
XM provides a wide range of currency pairs without re-quotes or hidden fees. Spreads have decreased over time, starting at 0.8 pips on the EUR/USD in the commission-free account. | Pepperstone offers exceptionally low forex spreads, averaging 0.12 pips on EUR/USD in the Razor account, with over 100 currency pairs to choose from. This exceeds what most competitors offer. Pepperstone uniquely provides three currency indices (USDX, EURX, JPYX), a rare feature in trading platforms. Pepperstone has claimed our 'Best Forex Broker' award twice. | |
| GBPUSD Spread | 0.8 | 0.4 |
| EURUSD Spread | 0.8 | 0.1 |
| EURGBP Spread | 1.5 | 0.4 |
| Assets | 55+ | 100+ |
| Currency Indices | USD | USD, EUR, JPY |
Cryptocurrency Trading | ||
XM offers a few cryptocurrencies against the USD through its South African entity. These can be traded as CFDs with leverage up to 1:500, increasing both potential returns and losses. You can trade major tokens like Bitcoin, Ethereum, and Ripple, but there are fewer tokens compared to over 120 crypto derivatives at Eightcap. | Pepperstone remains a trusted crypto broker. While its range of digital tokens is moderate, it offers trading for popular cryptos like Bitcoin and altcoins like Ripple with up to 1:10 leverage. Its crypto indices offer a comprehensive view of the digital currency markets, unlike most trading platforms. | |
| Crypto Spread | Variable | BTC 30, ETH 0 |
| Crypto Coins | BTC, ETH, LTC, XRP, BCH | BCH, BTC, ETH, LTC, DASH, ADA, LINK, DOGE, EOS, DOT, XRP, XLM, XTZ, UNI, BNB |
| Crypto Lending | ✗ | ✗ |
| Crypto Mining | ✗ | ✗ |
| Crypto Staking | ✗ | ✗ |
| Auto Market Maker | ✗ | ✗ |