Pepperstone and Oanda are online forex brokers that offer their trading services to traders and investors. Pepperstone is a regulated and trusted forex broker. It is regulated by multiple regulatory authorities including SCB, FCA, CMVM, BACEN, and CVM. Similarly, Oanda is also a regulated broker which is regulated by ASIC, CFTC, IIROC, FCA, PFSA, MAS in Singapore, FSA in Japan, FSC in BVI. Both the brokers have their own strengths and weaknesses.
In this article, we will review and compare the brokerage services offered by Oanda and Hugosway. 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 Oanda: In a Nutshell
Pepperstone
Founded in 2010 by Owen Kerr and Joe Davenport, Pepperstone is an Australian-based forex and CFD broker that provides online trading services to clients worldwide. The broker has offices in Melbourne, London, Düsseldorf, Dubai, Limassol, Nassau, and Nairobi.
Pepperstone offers access to more than 1,350+ CFD trading instruments, including Forex, Commodities, Indices, Currency Indices, Cryptocurrencies, Shares, and ETFs. You can trade through MT4, MT5, cTrader, and TradingView.
With its advanced technology, Pepperstone provides fast trade execution, useful trading tools, and low trading fees. The broker is regulated in seven jurisdictions, including ASIC, CySEC, FCA, BaFin, DFSA, Bafin, and SCB, and serves more than 400,000 clients worldwide. To learn more, you can read our Pepperstone review, where we cover its features, pros, cons, ratings, and more.
Pepperstone At a Glance
- Founded In: 2010
- Founder: Owen Kerr and Joe Davenport
- Headquarters: Melbourne, Australia
- Minimum Deposit: No Minimum Deposit
- Maximum Leverage: Up to 30:1 (ASIC, CySEC, FCA, BaFin & DFSA Retail), 200:1 (SCB retail), 400:1 (CMA retail), and 500:1 (Professional); varies by jurisdiction and client categorization
- Regulations: FCA, ASIC, CySEC, BaFIN, DFSA, CMA, and SCB
- Trading platform: MT4, MT5, cTrader, TradingView
- Account Types: Standard, Standard (cTrader/MetaTrader 4&5), Razor (MT4, MT5, cTrader & TradingView)
- Trading Styles: All, including Scalping, Hedging, News Trading, EA Trading
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Local Bank Transfers, M-Pesa, Neteller, PayPal, Skrill, UnionPay ( Availability varies per region)
- US Clients: Not Accepted
Oanda
Founded by Drs. Stumm and Olsen in the USA in 1996, Oanda is one of the oldest and most experienced forex brokers in the world. The broker expanded into Asia in 2007, opened its London office in 2011, and its Sydney office in 2014. On its platforms, you can trade over 3,000 forex pairs, CFDs, and even real stocks. The broker is regulated by top regulatory authorities including ASIC, CFTC, IIROC, FCA, PFSA, MAS in Singapore, FSA in Japan, and FSC in BVI. Oanda offers multiple trading platforms such as MT4, MT5, the fxTrade app, and TradingView. Oanda is also known for its currency transfer services as well as its MarketPlus trading analytics. To learn more, you can read our review on Oanda, where we cover features, pros, cons, and more
Oanda Overview
- Founded In: 1996
- Founder: Dr. Stumm (a computer scientist), and Dr. Olsen (an economist)
- Headquarters: New York, United States
- Trading Instruments: 100+ trading Instruments including forex, indices, shares, commodities, metals, cryptocurrencies, metals
- Minimum Deposit: No minimum Deposit is required. You may deposit as low as $1
- Maximum Leverage: 1:50 (US), 1:30 (EU), 1:200 (other regions)
- Regulations: ASIC, CFTC, IIROC, FCA, PFSA, MAS in Singapore, FSA in Japan, FSC in BVI
- Trading platform: MT4, MT5, fxTrade app, Tradingview
- Account Types: Standard, Elitetrader
- Trading Fees: Spreads starting from 0.6 pips (EUR/USD pair)
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, ACH Payments (echeck), BPAY, CHAPS, Check, DBS Bill Payment, Local Bank Deposits, Local Bank Transfers, Neteller, Payment Asia, PayNow, PayPal, SEPA Credit Transfer (SCT), Skrill
- US Traders: Accepted
Pepperstone vs Oanda: Features
Pepperstone:
- Trading Instruments: 1,350+ CFD instruments across Forex, Commodities, Indices, Currency Indices, Cryptocurrencies, Shares, ETFs, and Forwards.
- Maximum leverage: Up to 30:1 (ASIC, CySEC, FCA, BaFin & DFSA Retail), 200:1 (SCB), 400:1 (CMA), and 500:1 (Professional); varies by jurisdiction and client categorization.
- Minimum Deposit: No Minimum Deposit
- Account Types: Two ( Standard Account, Razor Account)
- Trading Fees: Spread starting from 1 pip for Standard Account or Commission 3.00 to 3.50 per lot for Razor Account on a Single Trip.
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed
- Pepperstone Trading App: Available
Oanda:
- Trading Instruments: CFD trading is not allowed for US clients; however, non-US clients can trade CFDs
- Maximum leverage: The maximum leverage of Oanda is 1:200 (global), 1:50 (US), 1:30 (EU)
- Minimum Deposit: No Minimum Deposit.
- Account Types: Two (Standard, Elitetrader)
- Trading Fees: Spreads range from 0.1 to 0.6, and commissions range from 3.5 to 4 per lot (depending on account type).
- PAMM/ MAM:
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed
Pepperstone vs Oanda: Pros and Cons
Pepperstone
- 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' funds with a tier 1 bank
- No Inactivity Fees
- Attractive Trading Conditions
- Wide Range of Instruments Offered
- Fast and full online account opening
- MT4 Smart Trader tools and free VPS (terms and conditions apply).
- US Traders are not allowed
- Only CFDs are Offered
- No cent/Micro Account
- Support works only 24/5
- Limited account protection for non-U.K./E.U. clients
- No guaranteed Stop loss
- 60-day expiry for demo accounts
Oanda
- Regulated by the CySEC, FCA, CFTC, JFSA, IIROC, ASIC, MAS and FSC BVI
- Clients can trade over 1800 forex/CFDs and over 2000 real stocks.
- Platforms: MT4, MT5, and Oanda mobile apps on iOS and Android.
- Trading tools provided are MetaTrader premium tools, Autochartist, Market pulse analysis, etc.
- Customer support is provided in multiple languages and via different channels.
- Fast and user-friendly account opening
- The TradingView platform is available, alongside several VPS services for MT4 hosting.
- Bank withdrawals incur a fee which is transferred to the trader.
- Premium core accounts require a minimum balance of $20,000
- Inactivity fees are charged from dormant accounts.
- No account protection for U.S. clients
- No guaranteed stop-losses for U.S. or U.K. clients
- Traders in the U.S. cannot access single-stock CFDs
- No cent accounts, bonus programme for beginner traders
Pepperstone vs Oanda: Side-by-Side Comparison
Pepperstone Vs Oanda: Our Scores and Ratings
We rated both brokers, Pepperstone and Oanda, 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 :
Oanda:
Final Verdict :
Both Pepperstone and Oanda offer similar trading services globally and are regulated forex brokers. The minimum lot size for both is as low as 0.1. However, there are some differences between them.
For example, Pepperstone is regulated by 9 regulatory authorities, including ASIC, CFTC, IIROC, FCA, PFSA, MAS in Singapore, FSA in Japan, FSC in BVI, while Oanda is regulated by regulatory authorities, including [specific regulators]. The trading cost for Pepperstone is 0.2 pips spread for a standard account and $5 per lot round-turn commission for an Elite account, whereas Oanda’s trading cost is 0.8 pips for a standard account and $7 per lot round-turn for a Raw Spreads account.
Pepperstone cannot accept US clients as it is not regulated in the USA, while Oanda, being a US-regulated forex broker, can accept clients from both the US and around the world.
Our score for Oanda is 8.8, and for Pepperstone, it is 9.4 (according to our expert ratings, brokers that achieve a score of 8.00 or higher are considered safe and trustworthy).
Therefore, Pepperstone is most suited and trusted for non-US traders. However, if you are a US trader seeking a trusted and regulated forex broker, Oanda is a perfect choice.
Risk Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 73-89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
