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XM vs Pepperstone (2026): Which Broker Is Better?

Compare fees, spreads, minimum deposits, platforms and regulatory information side by side. Conditions vary by country and legal entity.

Data last verified 2026-10-31Sources and verificationHow we compare brokers

Quick verdict

Pepperstone has the higher Brokeradar score

Pepperstone leads this comparison with an editorial score of 4.8/5. XM has the lowest recorded entry deposit at $5, while Pepperstone offers the broadest platform selection in our current dataset. The right choice still depends on the entity available in your country and the account type you use.

Comparing 2 brokers

XM
Editorial score
★ 4.6 / 5
Min Deposit
$5
Spreads From
0.8 pips
Max Leverage
Up to 1:1000
Regulation
CySEC, FSC Belize, ASIC, DFSA UAE, FSCA South Africa, FSA Seychelles, FSC Mauritius, CMA Kenya
Platforms
MT4, MT5, XM App
Islamic Accounts
Yes, Swap-Free
Established Year
2009
Data last verified
2026-10-31
Read ReviewOpen Account
Pepperstone
Editorial score
★ 4.8 / 5
Min Deposit
$10 funding minimum
Spreads From
0.0 pips
Max Leverage
Up to 1:500 (professional/entity dependent)
Regulation
ASIC, FCA, CySEC, BaFin, DFSA UAE, CMA Kenya, SCB Bahamas
Platforms
Pepperstone Platform, MT4, MT5, cTrader, TradingView
Islamic Accounts
Yes, Swap-Free
Established Year
2010
Data last verified
2026-11-02
Read ReviewOpen Account

XM vs Pepperstone: key differences

Calculated from the recorded data for each broker. The account type and legal entity you are onboarded by can change these figures.

  • Lower minimum deposit

    Advantage: XM

    XM
    $5
    Pepperstone
    $10 funding minimum

  • Higher maximum leverage

    Advantage: XM

    XM
    Up to 1:1000
    Pepperstone
    Up to 1:500 (professional/entity dependent)

  • Platforms only one broker offers

    Platforms available at only one of the compared brokers.

    XM
    XM App
    Pepperstone
    Pepperstone Platform, cTrader, TradingView

  • Licences only one broker holds

    Regulators that appear for only one of the compared brands.

    XM
    FSC Belize, FSCA South Africa, FSA Seychelles, FSC Mauritius
    Pepperstone
    FCA, BaFin, SCB Bahamas

  • More account base currencies

    Advantage: Pepperstone

    XM
    4
    Pepperstone
    6

  • Inactivity fee

    No inactivity fee recorded at Pepperstone.

    XM
    after 3 months
    Pepperstone
    None published

XM vs Pepperstone: fees and spreads

XM trading costs

Published spreads start from 0.8 pips. The minimum deposit recorded is $5. Raw and standard accounts can use different spread and commission models, so compare the account-level schedule before funding.

Pepperstone trading costs

Published spreads start from 0.0 pips. The minimum deposit recorded is $10 funding minimum. Raw and standard accounts can use different spread and commission models, so compare the account-level schedule before funding.

Regulation and country availability

A broker brand can serve customers through multiple legal entities. Licenses, leverage limits and compensation arrangements may therefore differ between two customers using the same brand.

XM

Licenses recorded: CySEC, FSC Belize, ASIC, DFSA UAE, FSCA South Africa, FSA Seychelles, FSC Mauritius, CMA Kenya.

Review XM safety details

Pepperstone

Licenses recorded: ASIC, FCA, CySEC, BaFin, DFSA UAE, CMA Kenya, SCB Bahamas.

Review Pepperstone safety details

Who should choose each broker?

Choose XM if…

  • ✓ Super low $5 minimum deposit
  • ✓ Excellent educational webinars
  • ✓ Huge array of deposit bonuses

Consider first: Doesn't offer cTrader or TradingView; Crypto CFDs availability is limited in EU.

Choose Pepperstone if…

  • ✓ Broad high-quality regulatory coverage
  • ✓ Transparent Razor commissions and spreads from 0.0 pips
  • ✓ Five platform choices including cTrader and TradingView

Consider first: Retail leverage and protections vary materially by entity; TradingView is tied to Razor pricing.

Sources and verification

Figures on this page come from the Brokeradar dataset and should be verified against the official broker pages and regulator registers below before you fund an account. Entity, leverage and fee schedules change and vary by country.

How we compare brokers

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