Home Brokers comparison Interactive Brokers vs. Pepperstone

Interactive Brokers vs. Pepperstone

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Interactive Brokers and Pepperstone are top online brokers with top-tier licenses. Interactive Brokers is a trustworthy broker with licenses from FINMA, IIROC, FSA, SFC, MAS, FCA, and CFTC. It has a proprietary platform and a professional app with a virtual trading account. Interactive Brokers is a top choice for new traders as it offers many educational tools. 

Pepperstone has licenses from the FCA, ASIC, and DFSA. It provides access to 3 account tiers and excellent trading platforms. This broker has a transparent fee policy and account opening process. We recommend Pepperstone to traders at all levels, from beginners to expert. 

This article discusses the strengths and weaknesses between Interactive Brokers and Pepperstone. 

Broker NameInteractive BrokersPepperstone
Year Founded19782010
RegulationSEC (USA), FCA (UK)ASIC, FCA, DFSA
Tradable AssetsStock, ETF, Forex, Fund, Bond, Options, Futures,
CFD, Crypto, Warrants, Structured Products
Indices, Shares Forex, Commodities, cryptocurrencies, CFDs
Min Deposit$0AUD $200
Min TradeAUD $1
PlatformsTraders Workstation (TWS)iOS, Android, Windows and MacOS
DepositYou can open account without depositFree of charge
WithdrawalsFree of charge for the first withdrawal in calendar monthFree of charge

Top findings from the Interactive Brokers vs. Pepperstone review:  

  1. Interactive Brokers is a leading online broker with both beginner-friendly and professional tools. 
  1. Pepperstone is a safe broker with over 200 different instruments limited to CFDs and forex. 
  1. Both brokers offer a virtual trading account to test their offering. 

Interactive Brokers is a top choice for new traders as it has many learning tools. We recommend Pepperstone for traders of every level of experience because of its comprehensive offer. 

Overall Rating

FeatureInteractive BrokersPepperstone
Overall4.54
Commissions & Fees4.54
Offering of Investments53.5
Platforms & Tools4.54
Mobile Trading44
Research4.54
Education44
Trust Score9492
WinnerYES
66% of retail CFD accounts lose moneyBetween 74-89% of retail CFD accounts lose money

Level of experience  

Interactive Brokers provides access to useful research tools, including Trading Central. It offers top educational materials, including webinars and investor dictionaries. Its demo account is a top learning tool. 

Pepperstone is a top provider of educational features and materials. It offers access to webinars, videos, and trading guides. We recommend it for traders of all levels of experience who want access to impressive trading information. 

Fees  

The minimum initial deposit at Pepperstone is $200, while Interactive Brokers doesn’t charge a fee. Both brokers offer an active trader discount. 

Assets  

Interactive Brokers offers 105 forex currency pairs, while Pepperstone has 61 available pairs. Interactive Brokers provides access to 7400 CFDs, while Pepperstone has 127 CFDs. 

Trading platform  

Interactive Brokers offers a beginner-friendly trading experience with web and desktop platforms. It has many educational tools, including webinars and advanced trading videos. This broker is a top choice for traders of all levels of experience. 

Pepperstone offers a comprehensive portfolio with desktop and web platforms. It has access to the MetaTrader suite and professional learning tools. Pepperstone does not have a proprietary mobile app.        

Banking services  

Banking services offer advantages to traders of all levels of experience. Interactive Brokers offers bank transfers as its funding option. Pepperstone provides access to bank transfers, credit/debit cards, PayPal, and Skrill. 

Final verdict  

Interactive Brokers and Pepperstone are top online brokers. Both have advantages and disadvantages depending on your skills, knowledge, and trading experience. We recommend Interactive Brokers to all traders, as it offers useful trading information. Pepperstone is a top provider of educational materials, which is why it is a better fit for new traders. 

Interactive Brokers compared to other brokers:

Interactive Brokers Review


Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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