Previously we did a review of Pepperstone and review of easyMarkets to show what each broker offers, their key strengths and weaknesses. To help you decide between the two brokers, we have done a comparison of Pepperstone vs easyMarkets forex broker where we look at key features when deciding on a broker to help you decide which broker to go with.
1. ECN spreads and low fees 2. Choice of cTrader or MT4 and MT5 Trading Platforms 3. Fast execution speeds 4. Highest leverage 5. Award-Winning Customer Service
1. Range of Risk Management Tools (including dealCancellationand guaranteed stop loss) 2. Low Margin, Zero Spreads + $0 commission 3. Fixed Spreads (no slippage risks) 4. Choice of easy-to-use forex trading platform 5. Personal Account Service Manager and Personal Analyst
1. No guaranteed negative balance protection 2. Some CFDs Not Offered (ie Shares/Stocks) 3. Minimum deposit of $200.
1. Lower Leverage (compared to industry benchmark) 2. Key Features offered on easyMarkets platform not offered on MT4 platform 3. Free Trade simulator only available for 8 days 4. No Stock/Share Market options
Spreads + Commissions
Forex Trading Platform
1. MetaTrader 4 with Smart Trader Tools 2. cTrader with cAlgo for trading with robots.
1. easyMarkets (custom platform) 2. MT4 by easyMarkets
1. Margin Stop Loss Order 2. Automated Negative Balance Protection 3. Regulated by Australia Securities & Investments Commission (ASIC) 4. Segregated accounts with National Australia Bank
1. Guaranteed Stops 2. Negative Balance Protection 3. Deal Cancellation 4. Australian Securities and Investments Commission Regulated (ASIC) and Cyprus securities exchange commission
1. Experienced high volume traders (Active Traders) 2. Traders utilising automated trading and scalping 3. Forex traders who value competent customer support
1. Traders that wish to minimise risks 2. Traders that want fixed spreads and don't want 'slippage' risks 3. Traders that desire a personal account manager
Likelihood to Recommend
Feature Rating Comparison
Likelihood to Review
Likelihood to Recommend
Feature Rating Comparison
Likelihood to Review
Pepperstone vs easyMarkets Fee Comparison
Pepperstone is an ECN forex broker which means that traders directly access liquidity pools while easyMarkets relies on their trading desk. What this means is that Pepperstone has market-based spreads combined with a flat commission while easyMarkets have solely spreads.
Average Spreads (pips)
Pepperstone Edge Razor Trading Account
The most popular Pepperstone forex trading account is the Razor account. This account offers market based spreads from 0.0 pips and a low commission of AU$3.50. Their new active trader program offers rebates for high volume forex traders. This can reduce commissions through rebates as high as $3.00 per lot.
Other benefits of the Edge Pepperstone Razor account are:
Over 70 Currency Pairs
Trade lots Min / Max 0.01/100 lots
Minimum deposit $200
Scalping and Hedging through expert advisors (called EAs)
There is no primary account for easyMarkets. Instead, there are four accounts that have varying spreads based on the amount deposited. It should be noted that unlike Pepperstone the spreads are fixed making the fees transparent to forex traders. Unlike Pepperstone Razor, there are no commissions charged on any easyMarkets trading account.
Each of the easy Markets accounts also have the following features
97 Currency Pairs
No Fees (except for Guaranteed stops)
MT4 Expert Advisors (not available with the standard platform)
Conclusion On Spreads + Fees
The average spreads on Pepperstone is lower and so are there fees overall. easyMarkets on the other-hand offers more transparency over their fees with fixed spreads that don’t fluctuate over the day. Overall, the lower average spreads of the Razor account make Pepperstone the winnerwith lower trading brokerage than easyMarkets.
Both Pepperstone and easyMarkets offers MetaTrader 4 while Pepperstone also offers cTrader and easyMarkets also offers their own platform. All these fx platforms have demo accounts when you open an account. The demo accounts also can vary in validity before you need to move to a live account.
MT4 offered by both forex brokers has the largest market share of any forex trading platform. This means it’s easy to switch forex brokers as there is no need to learn a new platform when making the switch. The platform is also easy to use and has algorithmic trading features know as Expert Advisors.
Know as Smart Trader Tools, Pepperstone has additional features to enhance MetaTrader 4. This includes trade notifications both online or via SMS through the alarm manager, an excel widget known as excel RTD and a trade simulator to test strategies based on historic market data. There is also a stealth order feature allowing traders to place pending order that are hidden from the market.
Other features of Smart Trader Tools include connect offering market information, trading guides and an economic calendar. There is also correlation matrix and trader, both of which help find similarities between assets or markets as well as differences. There is a session map to show when different markets (eg UK) are open which impact forex liquidity. A market manager is also available providing in-depth insights into market prices, pending and open orders. This is ideal for making market reviews.
cTrader is only offered by Pepperstone and is designed for intermediate to advanced forex traders. The fx platform allows traders to access Pepperstone’s deep liquidity pools ideal for algorithmic trading systems. There are also extensive back-testing systems to test these algorithmic systems or to test your own strategies.
cTrader also has an interface that can be customised for a traders needs. It has detachable charts and pre-sets to suit different types of forex traders. Trades can be made from these charts to help make trades when volatility is high. The platform also has a mobile and web based platform for traders that make trades when on-the-go. This can also be ideal for when a trader is at work or on a shared computer which restricts downloaded the full interface onto the PC or mac.
The easyMarkets Forex Trading Platforms
Exclusive to easy Markets, this platform has enhanced features unique to easyMarkets. This include dealCancellation discussed below in the risk management feature. There are also guaranteed stop losses and no slippage which are also discussed in the late risk segment of
this Pepperstone vs easyMarkets review.
The platform also has integrated charting and news when making technical analysis. Both forex trading and CFDs can be traded on this platform but automation is not available. There are also easy Markets apps available on Google Play or the App store as well as their web platform which requires no downloads for a computer.
Overall, easyMarkets platform key strength is the ‘risk management’ features. Traders should be aware this platform is proprietary meaning it may be difficult switch to other trading platforms in future.
Forex Trading Platforms Conclusion
Pepperstone has the best forex trading platform for intermediate to expert fx traders with an enhanced MT4 platform and cTrader.
EasyMarkets platform is only recommended for those new to trading or with a low risk appetite due to the enhanced risk management explained below.
Pepperstone Execution Speed easyMarkets Tools For Risk Management
Pepperstone and easyMarkets utilise different approaches to minimise the potential losses associated with execution. Industry leading technology is used by Pepperstone to reduce risk associated with ‘slippage’. easyMarkets offer risk management tools to guarantee no losses will occur due to slippage.
Pepperstone Edge Technology
The Pepperstone Edge Technology achieves fast execution through consists of the following methods:
Faster Execution – with committed fibre optic cable infrastructure. Using cables managed solely for Pepperstone data transmission purposes means we achieve maximum possible speeds of up 240ms. Pepperstone say this results in a 12x improvement of execution speeds.
Low Latency with 10 optical fibre cross connects direct to Equinox MetaTrader servers near New York financial centre. Pepperstone say direct connection achieves 10x latency reduction in execution.
One Click Trading – This is as part of the MT4 platform, traders can execute trades with just one click. This reduces lost time when executing an order.
The technology offered by Pepperstone provides very solid features when it comes to execution speed. Use of dedicated cables and best technology means traders can have confidence the there will be no surprises as ‘slippage’ risks are low.
easyMarkets and Risk Management
easyMarkets offer ‘no slippage’. This is because easyMarkets have range of risk management tools that manage ‘slippage’ risks.
These tools include:
Deal Cancellation– This is a unique feature that is only offered by easyMarkets. Clients can buy ‘protection’ against unfavourable deals within 60 minutes of opening a trade and then have their original trade refunded. ‘dealCancellation‘ means that when faced with a losing position traders can withdraw their position for a small fee. Traders are still able to take profit if price moves favourable
Freeze Rate – helps reduce slippage risks by allowing traders a small amount of extra margin or time to execute their trade at advertised rate. This means even if the actual rate has moved, the frozen rate will be honoured by easyMarkets.
Fixed Spreads – Fixed spreads mean spreads are predictable during market volatility and ‘final’ prices are always transparent.
Guaranteed Stop Loss/Take Profit– Traders can define the maximum amount they are prepared to lose or gain when market conditions change. If price reaches this position then and easyMarkets will close your position and guarantee to cover any difference.
Negative Balance Protection – easyMarkets have controls in place to ensure client will not lose more than their investment due to slippage. If clients accounts does go into negative then clients account will be returned to $0 and debt will forgiven.
Note: Pepperstone offer negative balance protection and pending orders but do not guarantee them.
Pepperstone vs easyMarkets Execution Conclusion
Clients will need to keep in mind what they require from their brokers. Experienced traders are likely to prefer the faster execution speeds offered by Pepperstone, reducing slippage and spreads. IC Markets is another example of a broker with low spreads and fast execution speed. Inexperience or risk averse traders however may prefer the security of the risk management tools offered by easyMarkets.
Pepperstone vs easyMarkets Leverage
Higher leverage means means greater risks as trader is taking on more debt however it can also mean greater gains. Leverage offered by Pepperstone is higher than offered by easyMarkets at 500:1 compared to 400:1 .
Pepperstone vs easyMarkets Leverage Conclusion
We recommend Pepperstone when it comes to leverage, not becuase of the higher level available but because the you have the option of reducing leverage to lower levels if desired. Traders have no obligation to trade with 500:1.
Pepperstone vs easyMarkets CFDS
Our table of Pepperstone vs easyMarkets CFDs comparison shows Pepperstone and easyMarkets both offer mostly the same CFDs. easyMarkets allow for trading in copper which is not on offer with Pepperstone while Pepperstone allow for trading in Orange Juice and a Dash cryptocurrency unlike easyMarkets.
The biggest difference between the two brokers is that easyMarkets allow vanilla options when trading which Pepperstone do not. This is when a buyer obtains the right (without the obligation) to buy or sell the CFD at an agreed price at a point in time in future.
Pepperstone vs easyMarkets CFDs Conclusion
Unless you have a specific need to trade with copper, orange juice or you wish to take advantage of vanilla trading options then it is not likely to matter if you select Pepperstone or easyMarkets. You could compare the leverage available for the instrument you wish to trade with if you are looking for higher leverage however keep in mind higher leverage can come with extra risks.
Pepperstone vs easyMarkets Customer Service
Users will find Pepperstone and easyMarkets have live online messaging, phone and email options when it comes to customer service. Customer service is available 24/5 from each provider.
Fr the past two consecutive years, ‘investment trends’ awarded Pepperstone the title of the most outstanding customer service in the industry. This speaks volumes about the high level of service clients can expect when dealing with their support teams. Their support team is made up of real traders who are therefore excellent at assisting both beginner and experienced traders because they trade themselves.
Pepperstone offer a mix of phone, email and live chat in the following countries – Australia, China, USA, Thailand and United Kingdom.
Customer Service With easyMarkets
Traders with Standard account or Premium Account a limited to certain features from their customer service portfolio as shown by the table.
Customers that use the Super VIP and VIP account s have access to all customer services. This includes the ‘Personal Account Manager’ which provides information regarding market movements, relevant news that may impact trading decisions and investment tips.
One unique customer service feature offered by easyMarkets is support via Viber and Facebook messenger.
Pepperstone vs easyMarkets Customer Service Conclusion
The award winning customer service offered by Pepperstone is why we are making Pepperstone our recommendation when it comes to support.
Pepperstone vs easyMarkets Joining Bonus
Pepperstone Joining Offer – First Deposit Qantas Points
Pepperstone will reward 10 frequent flyer bonus points for every $1 you deposit the first time you make a deposit. You can gain up to 10,000 points as part of this bonus program.
easyMarkets Joining Offer – First Deposit Credit and Share and Earn Program
If your first deposit when joining easyMarkets is greater than $100 you will be eligible to receive a ‘First Deposit’ bonus. This bonus will be in the form of extra trading funds. How much you receive will vary by how much you deposit. The more you deposit, the more funds easyMarkets will reward you. To be eligible for the bonus need to join the bonus program when registering you account.
easyMarkets also offer a refer a friend and partnership program that can result in trading credits for referrals.
Pepperstone vs easyMarkets Conclusion – Joining Bonus
Clients that are part of a Qantas frequent flyer program may wish to consider joining Pepperstone. Most traders will however get more value from easyMarkets joining program.
Pepperstone vs easyMarkets Funding Methods
easyMarkets range of financial merchants for deposits and withdrawals is one of the largest on offer among all brokers. Many of these providers however are not generally used in Australia so may not apply to your funding account needs.
When aa withdrawal request is made before 7am AEST then processing will be done on the same day. If made after this time, funds will be processed one day later. Withdrawals must be deposited into bank accounts that are linked with your registered Pepperstone account and must be in your name. Bank wire withdrawals take a few days longer being up to five business days. There is no charges or fees by Pepperstone for deposits and withdrawals.
easMarkets segragate all funds through ‘Bankwest. This helps protect your funds as easyMarkets have no access to the account.
When withdrawing funds from you bank account you wil be required to withdraw at least $50USD. eWallets and credit/debit cards do not have minimum withdrawal requirements. While easyMarkets have no deposit or withdrawal fees some fees may be charge by the payment issuer.
The table below shows show funding providers available and fees:
Pepperstone vs easyMarkets Funding Conclusion
We suggest you research your preferred merchant and their fees when deciding on a broker as their fees will vary and could add to your cost. If Pepperstone don´t offer your preffered mercant then easyMarkets will.
CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.