Pepperstone vs XM
Updated
Limited data: Pepperstone has 7 and XM has 8 of 12 comparable fields verified (we need 7 each for a full comparison). Treat this page as incomplete.
Key differences
- Pepperstone has a stronger best regulator (Tier 1) than XM (Tier 2).
- Only Pepperstone lists: SCB, ASIC, FCA, CySEC, DFSA, SCA.
- Only XM lists: FSC (Belize), FSA (Seychelles), FSC (Mauritius), FSCA, CMA (Kenya).
- Pepperstone has the lower stated minimum deposit ($0 vs $5).
- Pepperstone offers cTrader, TradingView; XM does not list them.
- XM confirms copy trading; Pepperstone does not confirm it on its site.
- XM confirms a swap-free account; Pepperstone does not confirm it on its site.
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| Field | Pepperstone | XM |
|---|---|---|
| Score | 81.9/100 | 73.1/100 |
| Regulators | SCB, ASIC, FCA, CySEC, DFSA, SCA | FSC (Belize), FSA (Seychelles), FSC (Mauritius), FSCA, CMA (Kenya) |
| Founded | 2010Founded in Melbourne. | Not verified |
| Platforms | MT4, MT5, cTrader, TradingView, Proprietary | MT4, MT5, ProprietaryXM App. |
| Minimum deposit | NoneAccounts table shows $0; funding minimum $10. | $5 |
| Raw commission / side (advertised) | $3.50Razor, "from $3.50 per lot, per side". | Not verified |
| Spread from, no-commission account (advertised) | Not verified | 0.80Site-wide "as low as 0.8 pips"; not account- or pair-specific. |
| Measured EUR/USD spread | Not yet tested | Not yet tested |
| Max. leverage | 1:30 retail (1:500 professional)Bahamas entity page. | Not verified |
| Copy trading | Not confirmed | YesXM Copy Trading. |
| Swap-free / Islamic | Not confirmed | Yes"Islamic option as standard" on all accounts. |
| Deposit methods | Not verified | Not verified |
| Restricted-country list | Not found | 4 listed (partial)Plus "other sanctioned countries". |
| Visit |
Sources for each value are on the individual broker pages. Data verified 11 Oct 2026.
Risk warning: CFDs and leveraged forex are complex instruments and carry a high risk of losing money rapidly due to leverage. Most retail accounts lose money. Only trade with money you can afford to lose. Nothing on this site is investment advice. Read the full risk warning.