Exness vs Pepperstone

Exness ranks among the leading Forex brokers with monthly trading volumes exceeding $3.5 trillion and an excellent Forex selection featuring 100+ currency pairs. It also ranks highly in the client withdrawal category, with $1.3+ billion in quarterly withdrawals. Traders get the MT4/MT5 trading platform, plus the proprietary Exness Terminal and mobile app Exness Trade. Exness also shines with its ultra-low trading fees and flexible leverage.

Pepperstone presents the most competitive MT4/MT5 trading environment due to its 28-plugin upgrade plus Autochartist. Traders may also opt for cTrader. Pepperstone connects to the TradingView community and offers Capitalise AI, which supports algorithmic trading in a code-free environment. VPS hosting and API trading are equally available. Traders also benefit from competitive trading fees and a volume-based rebate program.

We have conducted an in-depth review of Exness and Pepperstone to determine which presents the better overall choice and which traders will benefit the most at either broker.

Headquarters	Cyprus	Australia
Regulators	CMA, CySEC, FCA, FSA, FSC Belize, FSC Mauritius, FSCA	ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Tier 1 Regulator(s)?
Owned by Public Company?
Year Established	2008	2010
Execution Type(s)	Market Maker	No Dealing Desk, NDD
Minimum Deposit	$10 (based on the account type)	$0
Negative Balance Protection		N/A
Trading Platform(s)	MetaTrader 4, MetaTrader 5, Proprietary platform	Other, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+
Average Trading Cost EUR/USD	0.6 pips	1.1 pips
Average Trading Cost GBP/USD	0.7 pips	1.4 pips
Average Trading Cost WTI Crude Oil	6.7 pips	$2.50
Average Trading Cost Gold	11.3 pips	$0.15
Retail Loss Rate	Undisclosed	74-89%
Minimum Raw Spreads	0.0 pips	0.0 pips
Minimum Standard Spreads	0.3 pips	1.0 pips
Minimum Commission for Forex	$7.00 per 1.0 standard round lot	6.00 per round lot (cTrader) / $7.00 per round lot (MT4/MT5)
Islamic Account
Signals
US Persons Accepted?
Managed Accounts
	Visit Website	Visit Website 75-95% of traders on margin lose

Features & Platforms

MT4
MT5
MT4/MT5 Add-Ons		N/A
cTrader
Proprietary Platform
Automated Trading
Social/Copy Trading		N/A
DOM?
Guaranteed Stop Loss
Scalping
Hedging
One-Click Trading
OCO Orders
Interest on Margin
	Visit Website	Visit Website 75-95% of traders on margin lose

Noteworthy:

Exness offers a proprietary copy trading platform and mobile app, while Pepperstone has numerous third-party providers supporting excellent diversification.

Available Markets

Currency Pairs
Cryptocurrencies		N/A
Commodities
Crude Oil
Gold
Metals
Equity Indices
Stocks (non-CFDs)		N/A
Bonds		N/A
ETFs
Futures
Synthetics
	Visit Website	Visit Website 75-95% of traders on margin lose

Exness has a better Forex selection with 100+ currency pairs, ensuring Forex traders have broad sector exposure with a balanced overall asset selection. Pepperstone has notably more equity CFDs and offers ETF trading, making it a better choice in this category. At the same time, Exness remains a more competitive option for Forex and cryptocurrency traders.

Typical Spreads & Fees

Average Trading Cost EUR/USD	0.6 pips	1.1 pips
Average Trading Cost GBP/USD	0.7 pips	1.4 pips
Average Trading Cost WTI Crude Oil	6.7 pips	$2.50
Average Trading Cost Gold	11.3 pips	$0.15
Average Trading Cost Bitcoin	161.1 pips	25
Minimum Raw Spreads	0.0 pips	0.0 pips
Minimum Standard Spreads	0.3 pips	1.0 pips
Minimum Commission for Forex	$7.00 per 1.0 standard round lot	6.00 per round lot (cTrader) / $7.00 per round lot (MT4/MT5)
Deposit Fee
Withdrawal Fee
Inactivity Fee	No	$0
	Visit Website	Visit Website 75-95% of traders on margin lose

Both brokers offer a competitive commission-based cost structure with spreads from 0.6 pips or $6.00 per 1.0 round lot. The commission-based alternatives at Exness and Pepperstone feature raw spreads from 0.0 pips for a commission of $0.40 and $6.00, respectively.

Account Types

The Exness Standard MT5 account has no minimum deposit requirement, while the Raw Spread, ECN, and Pro options require a $200 commitment. The Zero account features 0.0 pips for a commission of $0.40 per round lot, making it ideal for scalpers. Pepperstone has no minimum deposit, but its Premium account, which includes a volume-based cashback rebate program, requires Forex traders to exceed $15M in notional monthly trading volume.

Minimum Deposit

The Exness minimum deposit depends on the payment processors, but most account types require an initial deposit of $200. Exness supports 75+ deposit currencies, ranking as the best Forex broker for localized deposits. Pepperstone supports ten deposit currencies, covering most of its core markets. Exness also allows cryptocurrency deposits. Neither Forex broker charges internal deposit fees, but traders should consider third-party processing costs.

Minimum Withdrawal

Neither Exness nor Pepperstone imposes a minimum withdrawal, but payment processors could have minimum and maximum limits. The same applies to withdrawal fees, but Pepperstone levies bank wire charges. Both Forex brokers have fast internal processing times, with Exness delivering an edge. Traders must withdraw funds via the deposit method and should consider follow-on costs.

Security & Trust

Country of the Regulator	Cyprus, Kenya, Mauritius, Seychelles, United Kingdom, British Virgin Islands, South Africa, Curaçao	United Arab Emirates, Australia, The Bahamas, Cyprus, Germany, Kenya, United Kingdom
Name of the Regulator	CMA, CySEC, FCA, FSA, FSC Belize, FSC Mauritius, FSCA	ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Regulatory License Number	SD025, 0003LSI, SIBA/L/20/1133, 51024, GB20025294, 178/12, 730729, 162	414530, 91279, 128, 388/20, F004356, 684312, F217
	Visit Website	Visit Website 75-95% of traders on margin lose

Exness and Pepperstone established themselves as trustworthy Forex brokers and have stood the test of time. Both segregate client deposits from corporate funds and offer negative balance protection for retail traders. The availability of an investor compensation fund at Pepperstone depends on the operating subsidiary. At the same time, Exness provides it to every trader.

Exness versus Pepperstone Verdict

Exness

Pepperstone

While both Forex brokers present an ultra-competitive trading environment, Exness takes the lead among demanding Forex traders. It provides lower average trading fees and processes more trading volume. Pepperstone shines with its services geared toward beginners, particularly its upgraded trading platforms, Capitalise AI and TradingView. Exness features more deposit and withdrawal flexibility and superior protection.

You might also be interested in reviewing the below broker comparisons:

• Exness vs XM
• Exness vs Octafx
• Exnessvs FXTM
• Pepperstone vs FXCM
• Pepperstone vs Activtrades
• Pepperstone vs Axitrader

FAQs

Who runs Exness?

Igor Lychagov founded Exness and continues to run the brokerage with a well-rounded and experienced management team.

Is Exness an Islamic broker?

Exness is not an Islamic broker, but it offers swap-free Islamic accounts. It extends swap-free trading to non-Islamic countries.

Which country is Exness broker from?

The Exness Group has its headquarters in Cyprus but does not serve retail clients from Cyprus. It has six regulated operating subsidiaries with client protection that accept account applications.

Can I trust Pepperstone?

Pepperstone established itself as a trustworthy broker with a clean operational track record spanning 10+ years.

By Tobi Amure

Tobi Opeyemi Amure has more than seven years of experience as a financial market analyst. He holds a Bachelor's Degree from Obafemi Awolowo University. Tobi's main area of expertise is in personal finance and the Forex industry. He has contributed to top platforms such as Investopedia, GoBankingRates, and Investing.com, where his expertise in Forex markets and digital assets is widely recognized. Tobi’s engaging storytelling and data-driven analysis have earned him a feature on Forbes and TheStreet, setting him apart as a trusted voice in Forex and online finance. In his free time, he explores emerging Forex trends, refines his market strategies, and actively engages with the global finance community.

Reviewer DailyForex.com Team

The DFX Team at DailyForex is a group of veteran financial analysts, traders, and brokerage industry experts dedicated to producing in-depth broker reviews and cutting-edge market insights, plus analysis of market trends. Holding over 16 years of experience in global financial markets, and 4 B.A. level academic qualifications in relevant degrees, we conduct thorough, unbiased evaluations of brokers to enable traders make informed decisions, using the most advanced methodology in the industry. Also, the DFX team is involved in generating technical analysis, signals, and trading strategies, with a consistent commitment to accuracy and transparency. Whether you’re a beginner or a professional trader, the DFX Team works to ensure you have the tools and insights you need to succeed as a trader in the retail CFD industry.

Fact-checker Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.