Pepperstone vs FXOpen - Fees Review included

In the ever-evolving world of online Forex trading, choosing the right broker can be a daunting task. Two names that frequently come up among traders are Pepperstone and FXOpen. Both brokers have carved out reputations for offering comprehensive trading services, but they cater to their clientele in distinct ways. This article provides an in-depth comparison of Pepperstone and FXOpen, focusing on their fees, trading platforms, account types, customer service, and overall trading conditions.

Broker Backgrounds

Pepperstone, founded in 2010, is based in Australia and is known for its low spreads and a strong regulatory framework. It caters to both novice and experienced traders, offering a wide range of instruments including Forex, CFDs, commodities, and cryptocurrencies.

FXOpen, on the other hand, was established in 2005 and has grown to offer a wide array of trading instruments. It's recognized for its competitive spreads, diverse account types, and innovative trading technology. FXOpen serves a global audience and is also well-regarded for its deep liquidity pools.

Fees and Spreads Comparison

One of the most critical aspects when choosing a broker is understanding the fee structure. Both Pepperstone and FXOpen pride themselves on transparency and competitive pricing, but there are differences.

Pepperstone offers notably low spreads starting from 0.0 pips on its Razor account, which is geared towards scalpers and algorithmic traders. However, a commission fee is charged on this account type, typically $3.5 per 100,000 traded per side for Forex. For traders opting for the Standard account, no commission is charged, but the spreads are higher, starting from 1 pip.

FXOpen, in comparison, offers its ECN account with spreads starting from 0 pips and charges a commission starting at $1.5 per standard lot per side. Its STP account, aimed at beginners, offers no commission trading with spreads beginning from 1 pip. The difference in commission structures makes FXOpen slightly more appealing for traders who prefer lower upfront costs.

Trading Platforms

Both brokers provide access to the popular MetaTrader 4 and MetaTrader 5 platforms, ensuring traders have robust tools and charts at their disposal. Additionally, Pepperstone offers cTrader, which is renowned for its intuitive interface and advanced order capabilities.

FXOpen differentiates itself with the TickTrader platform, offering a versatile trading experience that combines Forex and cryptocurrency trading within a single interface. This platform is particularly attractive for traders looking to diversify their trading strategies across different markets.

Account Types

Diversity in account types allows traders to choose a setup that best fits their trading style and financial goals. Pepperstone keeps it straightforward with two main account types: Razor and Standard. Each account type caters to different trader needs, with the Razor account being more suited for high-volume traders due to its lower spreads and higher commission rates.

FXOpen offers a broader range of account options, including Micro, STP, ECN, and Crypto accounts. This variety ensures that traders of all levels, from beginners to experts, and even those interested in cryptocurrency trading, can find an account that suits their needs.

Customer Service and Educational Resources

Excellent customer service and comprehensive educational resources are vital for both novice and experienced traders. Pepperstone excels in this area, offering 24/5 support via live chat, email, and phone, along with a wealth of educational materials, webinars, and trading courses.

FXOpen also provides strong support and educational offerings, with a 24/5 support team and a range of tutorials, articles, and analytical tools. However, Pepperstone’s educational resources are slightly more extensive, which may be beneficial for traders looking to deepen their market knowledge.


Choosing between Pepperstone and FXOpen comes down to individual preferences and trading needs. Pepperstone stands out for its lower spreads on the Razor account, extensive educational resources, and the availability of cTrader. FXOpen, meanwhile, offers more account types, including those tailored for cryptocurrency trading, and slightly lower commission fees on its ECN accounts.

In conclusion, both brokers offer compelling features, and the decision should be based on the specific aspects that matter most to you, such as fees, platform choice, or account diversity. Regardless of your choice, both Pepperstone and FXOpen are reputable brokers that provide a robust trading environment for Forex and CFD traders.