| Feature | XM Trading | Pepperstone |
|---|---|---|
| Founded | 2009 | 2010 |
| Regulation | ASIC (Australia), CySEC (Cyprus), DFSA (Dubai), IFSC (Belize) | ASIC (Australia), FCA (UK), BaFin (Germany), CySEC (Cyprus), DFSA (Dubai), CMA (Kenya), SCB (Bahamas) |
| Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5) | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView |
| Account Types | Micro, Standard, Ultra-Low, Zero (EU/UK only) | Standard, Razor |
| Minimum Deposit | $5 | $0 (Recommended: $200) |
| Leverage | Up to 1:1000 (varies by region and account type) | Up to 1:500 (Professional accounts); Up to 1:30 (Retail clients in ASIC, FCA, CySEC regions) |
| Spreads | From 0.6 pips (Ultra-Low account); From 1.0 pips (Standard account) | From 0.0 pips (Razor account) with commission; From 1.0 pips (Standard account) |
| Commission | None on most accounts; $7 per lot round turn on Zero account | $7 per lot round turn on Razor account; None on Standard account |
| Tradable Instruments | Over 1,000 instruments including Forex, Commodities, Indices, Stocks, Metals, Energies | Over 1,200 instruments including Forex, Commodities, Indices, Shares, Cryptocurrencies |
| Deposit & Withdrawal Methods | Bank Transfer, Credit/Debit Cards, Skrill, Neteller, Bitcoin | Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller, UnionPay, POLi, BPay, M-Pesa |
| Deposit & Withdrawal Fees | None; $20 fee for bank transfers below $200 | None |
| Inactivity Fee | $5 monthly after 90 days of inactivity | None |
| Customer Support | 24/5 via Live Chat, Phone, Email; Multilingual support | 24/5 via Live Chat, Phone, Email; Multilingual support |
| Educational Resources | Webinars, Video Tutorials, Market Analysis, Economic Calendar | Webinars, Tutorials, Market Analysis, Autochartist, Capitalise.ai |
| Research Tools | Daily Market Analysis, Economic Calendar | Autochartist, Trading Central, Economic Calendar |
| Social/Copy Trading | MetaTrader Signals | Myfxbook, DupliTrade, Mirror Trader, MetaTrader Signals |
| Islamic (Swap-Free) Accounts | Available | Available |
| Demo Accounts | Available | Available |
| Scalping & Hedging | Allowed | Allowed |
| Automated Trading | Supported via EAs on MT4/MT5 | Supported via EAs on MT4/MT5 and cBots on cTrader |
| Order Execution Speed | 99.35% of orders executed in less than 1 second | Average execution speed of less than 30ms |
| Investor Protection | Segregated client funds; Compensation schemes in certain regions | Segregated client funds; Compensation schemes in FCA-regulated regions |
| Promotions/Bonuses | Various bonuses (not available in all regions) | Limited promotions; varies by region |
| Additional Features | No requotes policy; Negative balance protection | No dealing desk execution; Negative balance protection |
| Spread Type | Variable spreads | Variable spreads |
| Execution Type | Market execution, No requotes | ECN execution (Razor), Standard execution |
| Trading Style Suitability | Suitable for all styles, including scalping, hedging, news trading | Best for scalping, high-frequency trading, automated trading |
| Trading Cost Structure | Commission-free on most accounts, fixed commission on Zero Account | Commission-based (Razor Account), Commission-free (Standard Account) |
| Stop-Loss & Take-Profit Features | Can be set during trade execution | Can be set during trade execution |
| Slippage Policy | No requotes, but slippage can occur in volatile markets | ECN model with minimal slippage, slippage possible during high volatility |
| VPS Hosting for Algo Trading | Free for eligible high-volume traders | Free for high-volume traders using EAs, cBots |
| Market Depth | Not available | Available on cTrader platform |
| Account Base Currencies | USD, EUR, GBP, AUD, JPY, CHF, HUF, PLN | USD, EUR, GBP, AUD, CAD, JPY, NZD, SGD, HKD |
| Crypto Trading | No | Yes (Bitcoin, Ethereum, Litecoin, etc.) |
| Fractional Lot Trading | Yes (Micro lots available) | Yes (Micro lots available) |
| Hedging Restrictions | Allowed | Allowed |
| Interest on Unused Funds | No | No |
| Negative Balance Protection | Yes | Yes |
| Stock Trading | Yes (via CFDs) | Yes (via CFDs) |
| Fixed Spreads Available? | No | No |
| Mobile Trading App | MT4, MT5 mobile apps | MT4, MT5, cTrader, TradingView mobile apps |
| Custom Indicators & Plugins | Available via MetaTrader marketplace | Available via cTrader, MetaTrader, Autochartist |
| Custom Trading Strategies | Fully supported on MT4/MT5 | Fully supported on MT4/MT5, cTrader cBots |
| Social Trading Integrations | MetaTrader Signals | Myfxbook, DupliTrade, Mirror Trader, MetaTrader Signals |
| Economic News Integration | Integrated into trading platforms | Integrated into trading platforms, Autochartist signals |
| Market Sentiment Tools | Limited sentiment indicators on MT4/MT5 | Available via Autochartist, TradingView, and cTrader |
| Smart Order Routing | No | Yes (cTrader and Razor accounts) |
| Deposit Processing Time | Instant for most methods | Instant for most methods |
| Withdrawal Processing Time | 24 hours | 24 hours (same day for PayPal & Skrill) |
| Tax Reporting Tools | Basic reports available | Advanced reports for tax and trade analysis |
| Regulatory Compensation Scheme | Available in certain regions | FCA compensation scheme (UK clients) |
| Affiliate & IB Programs | Yes, multi-tier partnership programs | Yes, competitive rebates and CPA programs |
| Customer Service Languages | Over 30 languages | Over 20 languages |
| Weekend Trading | Limited | Crypto trading available on weekends |
| Algorithmic Trading Support | Supported on MT4/MT5 (Expert Advisors - EAs) | Supported on MT4/MT5 (EAs) and cTrader (cBots) |
| Tick Data Availability | Limited historical data | Available via cTrader |
| Server Locations | Global data centers, optimized for low latency | Equinix data centers (New York, London, Tokyo) for ultra-low latency |
| One-Click Trading | Yes | Yes |
| Execution Model | Market execution, no requotes | ECN execution on Razor, STP on Standard |
| Order Types Available | Market, Limit, Stop, Trailing Stop, OCO | Market, Limit, Stop, Trailing Stop, OCO, Good-Till-Cancelled (GTC) |
| Depth of Market (DOM) | Not available | Available via cTrader |
| Spread Widening During News | Moderate widening during high volatility | Lower widening due to ECN pricing on Razor accounts |
| Price Improvement (Positive Slippage) | Limited | More frequent due to ECN model |
| Maximum Trade Size | 50 lots per trade | 100 lots per trade |
| Trade Execution Time | 99.35% of orders executed within 1 second | Execution speed under 30ms (faster for ECN) |
| Market-Making Model | No dealing desk (NDD) | No dealing desk (NDD), ECN execution available |
| API Trading | No direct API access | Yes (cTrader API) |
| DMA (Direct Market Access) | No | Yes (via cTrader) |
| Deposit Fees | No | No |
| Withdrawal Fees | No (except for bank wires under $200) | No |
| Deposit Methods | Bank Wire, Credit/Debit Card, Skrill, Neteller, Bitcoin | Bank Wire, Credit/Debit Card, PayPal, Skrill, Neteller, UnionPay, POLi, M-Pesa |
| Withdrawal Methods | Same as deposit | Same as deposit |
| Withdrawal Processing Time | 24 hours | 24 hours (same day for PayPal & Skrill) |
XM Trading is ideal for beginners with low deposits, high leverage, and extensive education, while Pepperstone excels in fast execution, ECN trading, and advanced tools for professional traders.