Pepperstone vs EagleFx : Our Analysis & Comparison 2024

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Forex traders always look for trading with brokers that suit their trading needs and preferences. Pepperstone and EagleFx are online forex brokers that offer their trading services to traders and investors. Pepperstone is a highly regulated and trusted forex broker. It is regulated in three Tier-1 jurisdictions, two Tier-2 jurisdictions, and two Tier-4 jurisdictions. On the other hand, EagleFx is an offshore forex broker which is not regulated by any regulatory bodies. 

In this article, we will review and compare the brokerage services offered by Pepperstone and EagleFx. We will explore options such as regulations, reputations, fees, features, leverage, and more. Additionally, we will analyze and rate the brokers based on macro and micro categories and options. By reviewing these aspects, you will get a clear idea of which broker suits you best for your trading journey.

Pepperstone vs EagleFX: In a Nutshell

Pepperstone

Owen Kerr and Joe Davenport founded Pepperstone in 2010 in the city of Melbourne, Australia. The broker currently facilitates the trading of over 1200 forex and CFD on its platforms. It is regulated by top regulators, backed by modern technology, robust platforms, and offers several trading tools for analyses and trading.

Risk warning: 86% of retail investor accounts lose money.

Pepperstone At a Glance

Pepperstone At a Glance
  • Founded In: 2010
  • Minimum Deposit: $200
  • Maximum Leverage: 400:1
  • Regulations: ASIC, CySEC, SCB, BaFIN,CMA,DFSA, FCA
  • Trading platform: MT4, MT5, cTrader, DupliTrade, TradingView
  • Account Types: Standard, cTrader raw spread, MetaTrader raw spread , Islamic
  • Payment Options:Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, Local Bank Transfers, M-Pesa, Neteller, PayPal, Poli, Skrill, UnionPay
  • US Clients : Not Accepted

EagleFX

Though EagleFX is unregulated, it asserts that clients’ Bitcoin deposits are safely stored in a cold storage location. Bitcoin is the primary payment option used by EagleFX. You can start trading with just $10 on its MT4 platforms and enjoy deep liquidity, tight spreads, and speedy STP executions.

Eaglefx Overview
  • Founded In: 2019
  • Minimum Deposit: $10
  • Maximum Leverage: 500:1
  • Regulations: None 
  • Trading platform: MT4 ,Webtrader
  • Account Types: 
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Bitcoin
  • US Traders: Accepted 

Pepperstone vs EagleFX: Side By Side Comparison

Pepperstone
EagleFX
Product
Founded In
Founded In
2010
2019
Founded By
Founded By
Owen Kerr and Joe Davenport
Not Found
Headquarters
Headquarters
Melbourne, Australia
Roseau Valley 00152, Dominica
Regulations
Regulations
FCA, ASIC, SCB, CMA, CySEC and BaFin
None
Min Deposit
Min Deposit
None
$10
Max Leverage
Max Leverage
1:500
500:1
Tradable Assets
Tradable Assets
Over 1200 forex, CFDs in stocks, indices, commodities, ETFs and Cryptos
Currencies , Cryptocurrencies, Commodities , Stocks , Indices , Futures
Fees
Fees
Spread from 1.0 pips, commissions $7/round lot
Spread from
Platforms and Tools
Platforms and Tools
MT4, MT5, cTrader, TradingView
MT4 , WebTrader
US Traders
US Traders
Not Allowed
Allowed

Pepperstone vs EagleFX: Pros and Cons

Pepperstone Pros & Cons

Pros
  • Regulated in 7 Reputed Jurisdictions (FCA in the UK, CySEC in Cyprus, ASIC in Australia, BaFin in Germany, DFSA in Dubai, CMA in Kenya, and SCB in the Bahamas) 
  • Fast order execution (fast execution on an average of 30 ms) 
  • Competitive spread starting from 0.0 pips 
  • Segregated clients fund with tire 1 bank 
  • No Inactivity Fees 
  • Attractive Trading Conditions 
  • Wide Range of Instruments Offered 
  • Fast and full online account opening 
  • MT4 Smart trader tools, Autochartist, Capitalise.ai, and free VPS are some of the trading tools available.
Cons
  • US Traders not allowed 
  • Only CFDs are Offered 
  • No cent/Micro Account 
  • Minimum deposit 200
  • Support works only 24/5  
  • Limited account protection for non-U.K./E.U. clients
  • No guaranteed Stop loss 
  • 30-day expiry for demo accounts

EagleFX Pros & Cons

Pros
  • The maximum leverage is as high as 1:500
  • The minimum deposit is as low as $10
  • Scalping Hedging, News trading, and the use of trading robots are allowed 
  • Speedy STP trade executions in less than a second. 
  • Over 150 trading instruments can be traded on the platforms. 
  • Offers free demo accounts 
  • The round-turn commission is $6, which is low and competitive compared to others.  
  • Zero Fees on Deposit and Withdrawal 
  • Offers Crypto CFD Trading 
Cons
  •  The broker is not regulated 
  •  No investor protection scheme for traders 
  • No managed accounts, social trading, or any provision for investors. 
  • Limited Deposit and Withdrawal Options 
  • Ctrader, Zulutrade, and Tradingview are not available 
  • There are no educational resources

Pepperstone vs EagleFx: Our Scores and Ratings :

We rated both brokers, Pepperstone and EagleFx, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.

Pepperstone

9.4
Total Score
Regulation and Security (40%)10
Fees and Commissions (20%)9.2
Trading (15%)8.5
Trading tools (10%)9
Customer Support (10%)9.6
Trading Education (5%)8

EagleFx

3.4
EagleFx Scores
Regulation and Security (40%)1.8
Fees and Commissions (20%)6.5
Trading (15%)5
Trading tools (10%)1
Customer Support (10%)5
Trading Education (5%)1

Conclusions :

Both Pepperstone and EagleFx offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. Pepperstone is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including FCA, ASIC, CySEC, DFSA, CMA, SCB, and BaFin. On the other hand, EagleFx is an unregulated offshore forex broker. Pepperstone provides Multiple trading platforms including MT4, MT5, cTrader, and TradingView. On the Contrary, EagleFx offers MT4. As Pepperstone is not licensed in the USA, it cannot accept US clients. Being an unregulated offshore forex broker, EagleFx can onboard clients from anywhere in the world, including the USA. Therefore, non-US traders may opt for Pepperstone, while US traders looking for offshore forex brokers may consider EagleFx. Trading with offshore forex brokers is risky and not recommended.

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

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