Exness vs Pepperstone

Quick Answer

A “winner” here means the better published figure on that one line. It is not a recommendation: the right broker depends on where you live and how you trade.

Comparison Table

Figures come from each broker’s official site, checked on 11 October 2026 (Pepperstone on 19 October 2026). Spreads move through the day, and conditions vary by country and by the company that holds your account.

Regulation and Safety

Exness’s companies hold licences from 11 regulators, but its FCA and CySEC companies don’t serve retail clients. Individual traders are served by offshore companies such as Exness (SC) Ltd in Seychelles. Exness does not serve residents of the USA, Canada, the EU or the UK.

Pepperstone was founded in Melbourne in 2010. Its group holds licences from the FCA in the UK (684312), ASIC in Australia (AFSL 414530), CySEC in Cyprus (388/20), BaFin in Germany (151148), the DFSA in Dubai (F004356) and Kenya’s CMA (128). Most international clients join Pepperstone Markets Limited, licensed by the Securities Commission of The Bahamas (SIA-F217), which keeps retail client money in segregated accounts with tier-1 banks and gives retail clients negative balance protection. India’s RBI lists Pepperstone on its alert list.

On paper Pepperstone has the stronger regulatory footprint, but that only helps if your account sits with one of its strictly regulated companies. Check which company your country places you with before you deposit.

Trading Costs

On commission-free accounts, Exness lists: Standard from 0.2 pips (EUR/USD average 0.8). Pepperstone lists: Standard from 1.0 pips. “From” figures are minimums, so expect wider live spreads, especially around news.

Both offer a raw-spread account. Exness: Raw Spread from 0.0 pips plus up to $3.50 per side. Pepperstone: Razor from 0.0 pips plus $3.50 per side. For frequent traders, a raw account usually costs less per trade than a spread-only one.

Exness lists no inactivity fee. Pepperstone lists no inactivity fee. Withdrawal fees: Exness: none from Exness; Pepperstone: none, except $20 on international bank wires.

Platforms and Copy Trading

Exness offers MT4, MT5, Exness Terminal and Exness Trade app. Pepperstone offers MT4, MT5, cTrader, TradingView and Pepperstone platform.

Exness has no copy trading service of its own (closed on 25 June 2026). Pepperstone’s copy trading: CopyTrading by Pepperstone on MT4 and MT5, and cTrader Copy (no Pepperstone fee; providers may charge a performance fee). Copying another trader doesn’t remove risk: you can lose money as fast as trading yourself.

Leverage

Exness’s maximum leverage: unlimited for eligible accounts, otherwise up to 1:2000. Pepperstone’s: 1:200 for retail clients of the Bahamas company (Pro clients up to 1:1000 on forex and gold); 1:30 on major pairs for UK and EU retail clients.

A higher maximum is not an advantage in itself. Leverage multiplies losses as fast as gains, so beginners should use far less than either broker allows.

Which One Should You Choose?

Go with Exness if:

• You want raw-spread accounts and no inactivity fee
• Fast, automated withdrawals matter to you
• You are comfortable with offshore regulation

Go with Pepperstone if:

• You want FCA, ASIC or CySEC regulation in the group
• You want raw spreads with cTrader or TradingView
• You don’t want a minimum deposit or an inactivity fee

Whichever you choose, test a small withdrawal early, verify your account before you need your money, and risk only what you can afford to lose.

FAQ

Which has the lower minimum deposit, Exness or Pepperstone? Pepperstone. Exness: set by the payment method on Standard ($10 on its South African site); $200 on Professional accounts. Pepperstone: no minimum (top-ups from $10).

How are Exness and Pepperstone regulated? Exness’s international clients deal with Exness (SC) Ltd, licensed by the FSA in Seychelles (SD025), and other offshore companies. Pepperstone’s deal with Pepperstone Markets Limited, licensed by the Securities Commission of The Bahamas (SIA-F217). Group regulators: Exness: 11 regulators; its FCA and CySEC companies don’t serve retail clients; Pepperstone: FCA, ASIC, CySEC, BaFin, DFSA, CMA Kenya, SCB Bahamas.

Which is cheaper to trade with? It depends on the account. Commission-free: Exness: Standard from 0.2 pips (EUR/USD average 0.8); Pepperstone: Standard from 1.0 pips. Raw accounts: Exness: Raw Spread from 0.0 pips plus up to $3.50 per side; Pepperstone: Razor from 0.0 pips plus $3.50 per side.

Does either charge an inactivity fee? Exness: none. Pepperstone: none.

Do both offer copy trading? Exness: closed on 25 June 2026. Pepperstone: CopyTrading by Pepperstone on MT4 and MT5, and cTrader Copy (no Pepperstone fee; providers may charge a performance fee).

Current Offers & Promotions

Promotion

Exness Promotions & Bonuses 2026

Exness is a globally known and reliable broker that provides new traders with various opportunities to understand the platform and…

View Offer