⚠️ CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. X

Compare Forex CFD Brokers 2024 : Pepperstone vs FxPro vs RoboForex

Updated December 29th 2024
Welcome to the most in-depth comparison table for the following brokers :

The ForexReviews.nl comparison tool rigorously compares forex brokers on factors like fees, platforms, licenses, apps, spreads, and ratings. Filter and narrow down brokers to find the ones that best suit your preferences compared to its competitors.

Plus500 is a CFD provider and they offer CFD service. All the instruments, including the Forex pairs, are available for trading through CFD

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Rating
Overall Rating 4.5 4.5 4
Offering of Investments 4 4 5
Commissions & Fees 4.5 4 3.5
Platform & Tools 4 4 4
Research 4.5 4 3.5
Mobile Trading 4 4.5 4
Education 4 4 3
Trustpilot Reviews 2111 191 383
Trustpilot Rating 4.4 3.9 4.2
Trustpilot Profile View View View
Licenses
Tier 1 Licenses 2 2 -
Tier 2 Licenses 2 1 -
Tier 3 Licenses 1 - -
Licenses - 3 3
Investments
Forex Trading (Spot or CFDs) no
Forex Pairs (Total) 62 70 36
Tradeable Symbols (Total) 2342 2249 12000
U.S. Stock Trading (Non CFD) no no no
Int'l Stock Trading (Non CFD) no no
Social Trading / Copy Trading
Cryptocurrency (Physical) no no no
Cryptocurrency (CFD)
Crypto Pairs (CFD) 9 28 -
Assets
CFDs
ETFs no
Forex
Indices no
Shares no no
Commodities no
Oil Trading
Licensing Jurisdiction
ASIC Authorised (Australia) no no
IIROC Authorised (Canada) no no no
SFC Authorised (Hong Kong) no no no
CBI Authorised (Ireland) no no no
FSA Authorised (Japan) no no no
MAS Authorised (Singapore) no no no
FINMA Authorised (Switzerland) no no no
FCA Authorised (U.K.) no
CFTC Registered (USA) no no no
FMA Authorised (New Zealand) no no no
CBRC Authorised (China) no no no
CySEC Authorised (Cyprus) no no
SEBI Authorised (India) no no no
Israel (ISA Authorised) no no no
CBR Authorised (Russia) no no no
FSCA Authorised (South Africa) no no
SEC Authorised (Thailand) no no
DFSA / Central Bank Authorised (UAE) no no
SCB Authorised (Bahamas) no no no
FSC Authorised (Belize) no no
FSA Authorised (Seychelles) no no no
CIMA Authorised (Cayman Islands) no no no
BMA Authorised (Bermuda) no no no
FSC Authorised (British Virgin Islands) no no no
FSC Authorised (Mauritius) no no no
VFSC Authorised (Vanuatu) no no no
EFSA Authorised (Estonia) no no no
Funding
Min. Deposit 0 100 100
PayPal (Deposit/Withdraw)
Skrill (Deposit/Withdraw)
Visa/Mastercard (Credit/Debit)
Bank Wire (Deposit/Withdraw)
Webmoney (Deposit/Withdraw) no no no
Crypto Funding
Bitcoin (BTC) no no no
Litecoin (LTC) no no no
Ethereum (ETH) no no no
Tether (ERC20) no no no
Tether (TRC20) no no no
Dogecoin (DOGE) no no no
Trading Platforms
Proprietary Platform no no
Desktop Platform (Windows)
Desktop Platform (Mac) no no no
Web Platform
Social Trading / Copy Trading
Mobile App (Android)
Mobile App (iOS)
Trading Software
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader no no
DupliTrade no no
ZuluTrade no no no
Myfxbook no no no
VPS Trading no no no
Cost
Average Spread EUR/USD - Standard 0.77 1.51 1.40
All-in Cost EUR/USD - Active 0.87 1.27 -
Active Trader or VIP Discounts no
Inactivity Fee no no no
Execution: Agency Broker no
Execution: Market Maker
Research
Daily Market Commentary
Forex News (Top-Tier Sources)
Autochartist no no
Trading Central (Recognia) no no
Social Sentiment - Currency Pairs no
Economic Calendar no
Education (Forex or CFDs)
Client Webinars no
Client Webinars (Archived)
Videos - Beginner Trading Videos no
Videos - Advanced Trading Videos no no
Investor Dictionary (Glossary) no
Tick History no no no
Major Forex Pairs
GBP/USD
USD/JPY
EUR/USD
USD/CHF
USD/CAD
NZD/USD
AUD/USD
Mobile Trading
Android App
Apple iOS App
Mobile Alerts - Basic Fields
Mobile Watchlist
Watchlist Syncing
Mobile Charting - Indicators / Studies 30 53 30
Mobile Charting - Draw Trendlines
Mobile Charting - Multiple Time Frames
Mobile Charting - Drawings Autosave
Forex Calendar
Trading Tools
Virtual Trading (Demo)
Alerts - Basic Fields no
Watchlists - Total Fields 7 6 7
Charting - Indicators / Studies (Total) 15 53 30
Charting - Drawing Tools (Total) 30 25 15
Charting - Trade From Chart no
Charts can be saved no
Spread
Stocks - - -
Currencies - - -
Indices - - -
Commodities - - -
Max. Leverage
Overall Max. Leverage - - 1:2000
Stocks - - -
Currencies - - -
Indices - - -
Commodities - - -
Features
Scalping no no
Hedging no no no
Trailing Stops no no no
Guaranteed Stop Loss no no no
Guaranteed Limit Orders no no no
Guaranteed Execution no no no
Negative Balance Protection no no no
One-click Execution no no no
Interest on Margin no no no
Demo Account no no no
Web-based Trading no no no
Mobile Native App Trading no no no
Islamic Account no no no
Zero Spreads no no
Regulation
Trust Score 93 90 71
Year Founded 2010 2006 2009
Compensation Fund 85000 - 20000
Publicly Traded (Listed) no no no
Bank no no no
Authorised in European Union no
Member of The Financial Commission no
The Financial Commission Profile View - View
VerifyMyTrade Audit - - View
Public Disclosures
Financial Statements - View -
Management Team - View -
Support
Email Support no no no
Phone Support no no no
SMS Support no no no
Live Chat no no no
Support Hours - - -
Community
Monthly Website Visitors 677 K 662 K 5.2 M
X Subscribers 32 K 36 K 25 K
Youtube Subscribers 229 K 45 K 9 K

Can you trust Pepperstone?

  • Pepperstone was founded in 2010.
  • Pepperstone does not operate a bank and is not publicly traded.
  • Pepperstone is authorised to operate in the 🇪🇺 European Union.
  • Pepperstone is licensed by the world's most strict and feared regulator 🇬🇧 ASIC (AU).
  • Pepperstone is licensed by the 🇬🇧 FCA (UK).

Is Pepperstone authorised to operate in the US?

❌ No, Pepperstone is not authorised to operate in the United States.

What licenses does Pepperstone have to operate?

Pepperstone is authorised by the following regulators: ASIC Authorised (Australia), FCA Authorised (U.K.) , CySEC Authorised (Cyprus), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE) .

Does Pepperstone publicly discloses their financial statements?

❌ No, unfortunately Pepperstone does not list their financial statements publicly on their website.

Does Pepperstone offer trading software like Meta Trader?

✅ Yes, you can trade on Pepperstone using MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader and DupliTrade trading software as well as through their web trading platform .

Does Pepperstone provide a mobile native app?

✅ Yes, you can trade Pepperstone on mobile using Mobile App (Android) and Mobile App (iOS).

Can you trust FxPro?

  • FxPro was founded in 2006.
  • FxPro does not operate a bank and is not publicly traded.
  • FxPro is authorised to operate in the 🇪🇺 European Union.
  • FxPro is licensed by the 🇬🇧 FCA (UK).

Is FxPro authorised to operate in the US?

❌ No, FxPro is not authorised to operate in the United States.

What licenses does FxPro have to operate?

FxPro is authorised by the following regulators: FCA Authorised (U.K.) and FSCA Authorised (South Africa) .

Does FxPro publicly discloses their financial statements?

✅ Yes, you can view the financial statements of FxPro online

Does FxPro offer trading software like Meta Trader?

✅ Yes, you can trade on FxPro using MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading software as well as through their proprietary trading platform .

Does FxPro provide a mobile native app?

✅ Yes, you can trade FxPro on mobile using Mobile App (Android) and Mobile App (iOS).

Can you trust RoboForex?

  • RoboForex was founded in 2009.
  • RoboForex does not operate a bank and is not publicly traded.
  • RoboForex is not authorised to operate in the 🇪🇺 European Union.

Is RoboForex authorised to operate in the US?

❌ No, RoboForex is not authorised to operate in the United States.

What licenses does RoboForex have to operate?

RoboForex is authorised by the following regulators: FSC Authorised (Belize) .

Does RoboForex publicly discloses their financial statements?

❌ No, unfortunately RoboForex does not list their financial statements publicly on their website.

Does RoboForex offer trading software like Meta Trader?

✅ Yes, you can trade on RoboForex using MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading software as well as through their web trading platform .

Does RoboForex provide a mobile native app?

✅ Yes, you can trade RoboForex on mobile using Mobile App (Android) and Mobile App (iOS).

Comparison & Key Differences

Which brokers offer social/copy trading?

The following brokers offer social/copy trading: Pepperstone, FxPro and RoboForex.

Best Brokers for Social/Copy Trading

Which brokers offer cryptocurrency (CFD) trading?

The following brokers offer cryptocurrency (CFD) trading: Pepperstone, FxPro and RoboForex.

Best Brokers for Cryptocurrency (CFD)

Which brokers allow scalping?

Only RoboForex allows scalping.

Best Brokers for Scalping

Which brokers allow hedging?

None of these brokers allow hedging: Pepperstone, FxPro and RoboForex.

Best Brokers for Hedging

Which brokers provide Negative Balance Protection?

None of these brokers provide Negative Balance Protection: Pepperstone, FxPro and RoboForex.

Best Brokers with Negative Balance Protection

Which brokers offer a Demo Account?

None of these brokers offer an Demo Account: Pepperstone, FxPro and RoboForex.

Best Brokers Offering Demo Accounts

Which brokers offer an Islamic Account?

None of these brokers offer an Islamic Account: Pepperstone, FxPro and RoboForex.

Best Brokers Supporting Islamic Accounts

What does it matter which licenses a broker has?

Licenses allow brokers like Pepperstone, FxPro and RoboForex to legally provide services in those countries or regions. By having permits from regulators globally, the broker is authorized to conduct business and operate globally.

These licenses and regulations are good for consumers because they hold these companies to high standards.

For example, licenses from:

  • ASIC in Australia,
  • FCA in the United Kingdom,
  • CFTC in the United States,
  • CySEC in Cyprus

Require that Pepperstone, FxPro and RoboForex follow rules around:

  • Keeping customer money safe
    Regulators make sure brokers keep client money separate from their own money. This stops brokers from spending customer money.
  • Providing clear fees and charges
    Regulators check that brokers show all fees to customers upfront. This helps customers understand and compare costs.
  • Resolving complaints fairly
    Regulators check brokers are dealing with customer complaints fairly. Brokers must have policies to fix complaints.
  • Guarding against fraud
    Regulators make rules so brokers check customer identities. This helps stop criminal activity. Regulators can punish cheating brokers.
  • Advertising honestly
    Regulators tell brokers what they can and can't say in ads. This stops brokers making false promises. Regulators can fine brokers who break ad rules.

Which brokers are authorised by ASIC, FCA, CFTC and CFTC?

AU's ASIC, UK's FCA and America's CFTC are considered global “gold standards” in rigorous consumer protection laws and enforcement policies.

  • ASIC (AU) Authorised - Only Pepperstone is licensed by the ASIC (AU).
  • FCA (UK) Authorised - Both Pepperstone and FxPro are licensed by the FCA (UK).
  • CFTC (US) Authorised - None of these brokers offer licensed by the CFTC (US): .

CySEC in Cyprus follows the strict rules set by the European Union called MiFID. These MiFID rules were created to strongly protect investors.

  • CySEC (CY) Authorised - Only Pepperstone is licensed by the CySEC (CY).

Which brokers are not registered with ASIC, FCA or CFTC?

  • Not registered with CFTC (US) - The following brokers are not licensed by the CFTC (US): Pepperstone, FxPro and RoboForex.

    This doesn't necessarily have to be a red flag as some forex brokers make the choice to only have customers who live outside of the United States. They do not accept traders who live inside the U.S. The CFTC is the agency in the U.S. that oversees brokers for U.S. residents. Since these brokers don't have any U.S. customers, the rules and registration enforced by the CFTC does not apply to those brokers. The brokers are still responsible for following the local rules where their international customers live. But they do not have to register specifically with the U.S. agency (CFTC) because they do not serve traders who reside in the United States.

  • Not registered with ASIC (AU) - Both FxPro and RoboForex are licensed by the ASIC (AU).

    Again, even though ASIC is known globally as having the strictest and most feared regulation of forex brokers, this doesn't always have to ring alarms. However, some brokers deliberately avoid Australia because ASIC aggressively examines brokers in detail and has very high standards of acceptable conduct. If ASIC finds brokers are badly mistreating customers or ignoring the strict rules, ASIC will punish them severely without waiting by issuing massive fines or shutting them down. Forex brokers know not to take ASIC rules lightly because ASIC is watching them closely and will come down hard on them if customers are harmed by their poor behavior.

  • Not registered with FCA (GB) - Only RoboForex is not licensed by the FCA (GB).

Background Information

Difference between shares, equity indices and , individual stocks and etfs

The main differences between forex, shares, equity indices, individual stocks, and ETFs are:

  • Forex (Foreign Exchange) - Forex trading involves exchanging one currency for another in the foreign exchange market. Forex traders attempt to profit from fluctuations in currency exchange rates.
  • Shares - A share represents part ownership of a company. Owning shares entitles the shareholder to a portion of the company's assets and earnings.
  • Equity Indices - An equity index is a statistical measure of the performance of a basket of stocks representing a portion of the equity market. Examples include the S&P 500 and the Dow Jones Industrial Average. These indices track the overall performance of their underlying group of stocks.
  • Individual Stocks - An individual stock represents ownership in a single company. The return on an individual stock depends solely on that company's performance. Individual stocks carry higher risk but also the potential for higher returns compared to broader indices.
  • ETFs (Exchange Traded Funds) - An ETF is a collection of securities bundled together into a fund that trades on an exchange like a stock. ETFs can contain various asset classes but equity ETFs typically track an equity index, such as the entire stock market or a sector. ETFs offer diversification with the trading aspects of a stock.

Shares and individual stocks represent ownership in a single company, indices track groups of stocks, while ETFs are funds containing assets like stocks or indices that trade as a single security. The level of diversification, risk, and return potential differs across these asset classes.

Pepperstone Review
74-89% of retail CFD accounts lose money
FxPro Review
79.27% of retail investor accounts lose their money
RoboForex Review