Choose FP Markets if you want…
Australian + EU traders wanting deep equity CFD coverage via IRESS plus ECN FX execution from a dual-tier-1 broker.
FP Markets
⭐ 4.5 / 5
VS
Pepperstone
⭐ 4.7 / 5
FP Markets vs Pepperstone — which broker is better in 2026?
We compared FP Markets and Pepperstone across five core criteria: regulation, minimum deposit, spreads, platform choice, and overall user rating. Pepperstone wins on more criteria (3 categories vs 0), making it the stronger default for most traders. Both brokers remain reputable, independently tier-1 regulated options.
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| FP Markets | Pepperstone | Winner | |
|---|---|---|---|
| Rating | ⭐ 4.5 / 5 | ⭐ 4.7 / 5 | Pepperstone |
| Regulators | ASIC, CySEC, FSCA, FSA SVG | FCA, ASIC, CySEC, DFSA, BaFin, SCB, CMA Kenya | Pepperstone |
| Min. deposit | $100 | $0 (no minimum) | Pepperstone |
| Spreads from | 0.0 pips (Raw) | 0.0 pips (Razor) | Tie |
| Max. leverage | Up to 1:30 (EU retail) / 1:500 (offshore) | Up to 1:30 (EU retail) / 1:500 (offshore) | — |
| Platforms | MT4, MT5, cTrader, IRESS, FP Markets Mobile | MT4, MT5, cTrader, TradingView, DupliTrade | Tie |
| Founded | 2005 | 2010 | — |
| HQ | Sydney, Australia | Melbourne, Australia | — |
Pros & cons compared
FP Markets pros
- ✓ Founded 2005 — 20+ year operating history
- ✓ ASIC + CySEC dual tier-1 regulation
- ✓ Raw account: 0.0 pips + $3/lot commission per side
- ✓ Five platforms incl. IRESS — DMA access to ASX & global equities
- ✓ 10,000+ share CFDs across 9 international exchanges
Cons
- ✗ $100 minimum deposit higher than budget brokers
- ✗ Smaller brand than IC Markets / Pepperstone
- ✗ IRESS platform has steeper learning curve than MT4
Pepperstone pros
- ✓ Seven tier-1 regulators including FCA, ASIC, CySEC, BaFin, DFSA
- ✓ No minimum deposit — start with any amount
- ✓ Razor account spreads from 0.0 pips with $3.50/lot commission
- ✓ Native TradingView platform integration for chart-first traders
- ✓ 1,200+ instruments incl. shares CFDs from 16 global exchanges
Cons
- ✗ Limited crypto offering vs. Exness or Bybit
- ✗ EU leverage 1:30 (ESMA)
- ✗ No proprietary platform — relies on third-party
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Which one should you choose?
Choose Pepperstone if you want…
Serious retail traders who want tier-1 regulation, tight spreads, and platform choice (MT4/5/cTrader/TradingView).
Frequently asked questions
Which is better — FP Markets or Pepperstone?
Based on five comparison criteria (regulation, deposit, spreads, platforms, overall rating), Pepperstone wins 3 categories. That makes it the stronger default choice — though both brokers remain reputable, independently tier-1 regulated options.
Is FP Markets more regulated than Pepperstone?
FP Markets holds licenses from: ASIC, CySEC, FSCA, FSA SVG. Pepperstone holds licenses from: FCA, ASIC, CySEC, DFSA, BaFin, SCB, CMA Kenya. Pepperstone has more regulatory licenses, giving it broader geographic coverage.
What are the spreads at FP Markets vs Pepperstone?
FP Markets spreads start from 0.0 pips (Raw). Pepperstone spreads start from 0.0 pips (Razor). Actual spreads vary by account type and market conditions.
Which has a lower minimum deposit, FP Markets or Pepperstone?
FP Markets: $100. Pepperstone: $0 (no minimum). Pepperstone has the lower entry barrier.