OANDA vs Pepperstone Comparison – 2024

Top Reasons to Choose OANDA or Pepperstone

Based on our assessment, OANDA is better suited for beginners who seek a modest range of markets, a user-friendly trading platform, and high-quality research and educational materials. On the other hand, Pepperstone caters more to advanced traders who value useful research tools and a diverse range of instruments, as well as beginners who require top-notch educational resources.

OANDA: Snapshot

Founded in 1996, OANDA is licensed by eight financial authorities, including six Tier-1 regulators. The broker offers over 300 tradable instruments through MT4, MT5, TradingView, and OANDA’s proprietary web and desktop platforms, as well as mobile apps. Its dedicated in-house team, along with Autochartist and Dow Jones News, provides trading signals and market research.

OANDA: Who is it For?

OANDA caters to beginner traders seeking a feature-rich yet user-friendly trading experience with the OANDA Trade web, desktop, and mobile platforms, as well as TradingView. Advanced traders may benefit from the MT4 and MT5 platforms, enhanced by market research from MarketPulse and Dow Jones. Note that the platforms and products available can vary significantly depending on the region.

What Makes OANDA Stand Out?

OANDA stands out by offering a more comprehensive suite of trading platforms than most other brokers. The research from its in-house team, along with insights from Market Pulse and Dow Jones, is also better than the industry average. Additionally, the broker stands out with its licensing from six Tier-1 regulators worldwide.

Pepperstone: Snapshot

Established in 2010 and based in Melbourne, Australia, Pepperstone has expanded its operations with offices in London, Cyprus, Germany, Dubai, and Kenya. The brokerage is licensed by seven financial authorities, including four Tier-1 regulators. Pepperstone provides access to more than 1,200 tradable instruments via platforms such as MT4, MT5, cTrader, and TradingView, and offers an extensive array of educational materials.

Pepperstone: Who is it For?

Pepperstone is ideal for beginners looking to enhance their trading skills through diverse educational resources, including articles, video tutorials, courses, and live trading webinars. The broker also caters to advanced traders by providing access to four professional trading platforms and integrating third-party research and analytical tools from Autochartist and Capitalize.ai. Stock traders will appreciate the nearly 1,000 stock CFDs available.

What Makes Pepperstone Stand Out?

Pepperstone stands out as a well-regulated broker, boasting licenses from seven financial authorities, including four Tier-1 regulators. Furthermore, it offers an extensive selection of global stock CFDs, third-party research tools, comprehensive educational resources, and customer support that exceeds industry standards.

Trust

OANDA vs Pepperstone Trust and Regulation Comparison

Established in 1996, OANDA operates through six entities licensed by Tier-1 regulators: FCA (UK), CFTC/NFA (U.S.), ASIC (Australia), IIROC (Canada), MAS (Singapore), and FFAJ (Japan). Two other entities are licensed by Tier-3 regulators FSA (Malta) and FSA (BVI). The entities regulated by Tier-1 authorities offer the highest level of investor protection, security of funds, and transparency.

Established in 2010, Pepperstone has four entities licensed by Tier-1 regulators: CySEC (Cyprus), FCA (UK), ASIC (Australia), and BaFin (Germany). Additionally, one entity holds a license from the Tier-2 regulator DFSA (Dubai), and two entities are licensed by Tier-3 regulators: CMA (Kenya) and SCB (Bahamas). The broker prioritizes transparency in its terms and conditions, particularly regarding trading fees and the security of client funds.

Fees

OANDA vs Pepperstone Spreads, Fees and Commissions Comparison

Using OANDA’s commission-free Standard CFD Account, our analysis revealed that the spread for EUR/USD averaged 1.25 pips throughout the London and New York sessions, which is higher than the industry average of 1.0 pips. There is an inactivity fee of £10 per month for accounts that have been dormant for 12 months.

From Pepperstone’s commission-free Standard CFD Account, we found that the spread for EUR/USD averaged 1.05 pips across the London and New York sessions, which is around the industry average. There are no inactivity fees.

For more options, you can also check out our list of the best forex brokers with the lowest spreads.

Platforms and Tools

OANDA vs Pepperstone Trading Platforms Comparison

OANDA offers a broad range of trading platforms, including MT4, MT5, TradingView, and OANDA Trade, accessible on desktop, web, and mobile devices. However, availability varies by region. The OANDA Trade and TradingView platforms are designed for beginners seeking a user-friendly interface and easy-to-use trading tools. MT4 and MT5 have a steeper learning curve and mainly cater to advanced and algorithmic traders.

Pepperstone provides a diverse array of trading platforms, including MT4, MT5, cTrader, and TradingView, also available on desktop, web, and mobile devices. TradingView is particularly tailored for novice traders, with various technical indicators, chart types, and timeframes. Pepperstone offers MT4, MT5, and cTrader for advanced traders, with the latter being optimized for high-frequency, short-term trading. Beginners can benefit from Autochartist for trading ideas, whereas advanced traders might use Capitalize.ai for automated strategy testing.

Tradable Instruments

OANDA vs Pepperstone Instruments Selection Comparison

OANDA offers a modest but strong selection of over 300 financial CFD instruments across various global asset classes. This product range is particularly suited for beginner to intermediate traders. Note that stock CFDs are not available in all regions.

Pepperstone provides access to over 1,200 financial CFD instruments spanning global asset classes, catering to a diverse range of traders. A unique feature for forex traders is the ability to trade currency indices like the US Dollar Index and the Euro Currency Index, options not commonly offered by many other brokers.

Customer Support

OANDA vs Pepperstone Customer Support Comparison

OANDA offers customer support 24/5 via live chat, phone, and email. Live chat responses were the fastest, typically received in seconds. Email responses were received within one day. The customer support agents were knowledgeable and helpful.

Pepperstone provides round-the-clock customer support through phone, live chat, and email. Both live chat and telephone services were swift, connecting us to an agent in under a minute. Email inquiries received responses within 24 hours. The agents provided valuable assistance.

Research

OANDA vs Pepperstone Research Tools Comparison

OANDA’s Market Pulse website offers regularly updated news and research. Its dedicated in-house research team offers insightful analysis covering fundamentals, market themes, and technical analysis across global markets. The ‘Week Ahead’ articles offer a forward-looking perspective on markets, which can be particularly useful for beginner traders. Advanced traders may benefit from the live Dow Jones FX Select news feed, which delivers real-time news, data, and insights directly from the OANDA Trade platforms.

Pepperstone provides extensive market research in both written and video formats, presented by its in-house analysts. The chief market analyst at the broker delivers insightful analysis of high-impact news events and market commentary, with a focus on technical analysis that generates actionable trading ideas. Furthermore, Pepperstone offers the Autochartist research tool, which automatically generates signals when significant technical chart patterns emerge on major markets. These tools are suitable for both beginner and advanced traders.

Deposits & Withdrawals

OANDA vs Pepperstone Deposit and Withdrawal Methods Comparison

OANDA offers fee-free deposits via bank wire transfer, credit/debit card, Skrill, and Neteller. Bank wire transfers take the longest to process, typically 1 to 3 business days, while other methods are processed instantly. Withdrawals typically take 1 to 6 business days to complete. Withdrawals to credit/debit cards, Skrill, or Neteller are fee-free, while bank wire transfers incur a $20 USD fee.

Pepperstone offers three deposit and withdrawal options free of charge via various channels. Deposits via bank wire transfer typically take 1 to 3 working days to process, while Visa/Mastercard transactions are instantaneous. PayPal deposits are also instant, but withdrawals via PayPal usually take 1 to 3 working days to process.

Account Types and Terms

OANDA vs Pepperstone Account Types Comparison

OANDA offers three account types: Standard, Islamic, and Demo. Islamic accounts are swap-free to align with Sharia Law. Demo accounts are useful for beginners to test the broker’s platform and services. The Standard account is a live account that can be funded in EUR, HKD, SGD, AUD, CHF, and USD. It is also commission-free.

Pepperstone offers two account options: Standard and Razor. The Standard Account, tailored for beginners, allows commission-free trading in micro-lots. The Razor Account is geared towards advanced traders, offering lower spreads and an industry-standard commission. Importantly, exclusive access to the TradingView platform is available only with the Razor Account. The broker also offers Islamic and Demo account options.

Education

OANDA vs Pepperstone Educational Content Comparison

OANDA offers various educational resources through articles, video tutorials, and live webinars. It encompasses four main categories: Getting Started, Tools and Strategies, Capital Management, and Live/Recorded Webinars. The quality of content is above the industry average and primarily aimed at beginner and intermediate traders.

Pepperstone provides extensive educational materials, including articles, video tutorials, courses, and live trading webinars. The content is well-curated, offering valuable insights and catering to traders of all expertise levels. Additionally, the platform hosts regular webinars conducted by experienced traders and educators, which delve into topics such as price action trading in detail.

Our Methodology

Since 2011, FX Empire has developed a detailed methodology for evaluating CFD brokers, involving over 250 variables across nine crucial categories. Our team of experts, with deep industry knowledge, conducts live testing and research by interacting with the brokers directly. We check regulations, open accounts, test spreads, account costs, platform functionality, instrument variety, customer support reliability, and the quality of research and educational content. This granular analysis helps us identify each broker’s strengths and weaknesses, keeping our comparisons current with market trends and ensuring our guides meet traders’ needs.

We strive to evaluate each broker objectively, considering how their offerings align with the diverse trading goals and preferences of our readers. Our focus is on providing a balanced overview of each broker’s strengths and weaknesses. This method ensures that our readers receive clear, insightful comparisons to aid in making well-informed trading decisions.

We employ a comprehensive rating system across nine key categories:

• Trust
• Fees
• Platforms and Tools
• Tradable Instruments
• Customer Support
• Research
• Deposits and Withdrawals
• Account Types and Terms
• Education

In each category, we conduct an in-depth analysis for both brokers, outlining features, advantages, and disadvantages and determining their suitability for different trader profiles. By blending insights from our extensive reviews with first-hand experiences and observations, we ensure each comparison is balanced, informative, and tailored to the trader’s unique needs. You can read more about our review process here.

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