Is Pepperstone cheaper than Forex.com for forex trading?
Verdict
- Pepperstone is likely the cheaper of the two for active forex traders: its Razor account costs 0.7 to 0.8 pips all-in on EUR/USD at its published average, while FOREX.com's headline 0.7 is a floor ('as low as'), not a typical spread.
- FOREX.com's own pages disagree on its EUR/USD figure (0.7 on the UK homepage, 'as low as 1pt' on its account comparison), and it publishes no average.
- Pepperstone needs $10 to start against FOREX.com's £100 in the UK; FOREX.com offers guaranteed stops in the UK, which Pepperstone does not publish.
- In Singapore, FOREX.com operates through a MAS-licensed company (StoneX Financial Pte. Ltd.); Pepperstone serves Singapore from the Bahamas without a MAS licence.
Comparing these two on cost means converting Pepperstone's commission into pips and being clear about what FOREX.com's headline actually measures. Done properly, Pepperstone comes out ahead on the figures each broker publishes, though not by a margin that can be proven to the decimal. Here is the working.
Short answer: yes on published figures, with a caveat
Pepperstone publishes an average EUR/USD spread of 0.1 pips on Razor. Commission of $6 to $7 per round-turn lot is worth 0.6 to 0.7 pips at $10 a pip, so the all-in average is 0.7 pips on cTrader and 0.8 on MT5 or TradingView. FOREX.com's UK homepage quotes EUR/USD 'as low as 0.7' points with no commission, which is its best moment, not its usual price. A typical FOREX.com spread will sit above that floor; Pepperstone's figure already includes its wider moments. The caveat: without a published FOREX.com average, the size of the gap can't be measured.
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The numbers each broker publishes
| Account | Figure | Type | All-in, in pips |
|---|---|---|---|
| Pepperstone Razor, cTrader | 0.1 pips + $6 round turn | Average | 0.7 |
| Pepperstone Razor, MT5/TradingView | 0.1 pips + $7 round turn | Average | 0.8 |
| Pepperstone Standard | 1.1 pips, no commission | Average | 1.1 |
| FOREX.com UK | As low as 0.7 points, no commission | Minimum | 0.7 at best |
| FOREX.com UK account comparison | As low as 1 point | Minimum | 1.0 at best |
| FOREX.com RAW Spread (global site) | Spread plus commission | Not published in our data | Unknown |
Costs beyond the spread
- Minimum deposit: $10 at Pepperstone; £100 or equivalent at FOREX.com UK.
- Guaranteed stops: FOREX.com UK offers them on thousands of markets, with a premium only if triggered; Pepperstone publishes none.
- Deposits: free on every method on Pepperstone's international funding table.
- Inactivity: Pepperstone charges no inactivity fee.
If you trade from Singapore
FOREX.com's Singapore business is StoneX Financial Pte. Ltd., which holds a MAS capital markets services licence, and its Singapore pricing may differ from the UK figures above. Pepperstone has no MAS licence; Singapore residents trade with Pepperstone Markets Limited under Bahamas SCB licence SIA-F217, with retail FX leverage up to 1:200 and an SGD account available. If local supervision outweighs a fraction of a pip for you, FOREX.com's Singapore entity is the safer regulatory choice.
How to settle it for your own trading
- Note FOREX.com's live EUR/USD spread at your usual trading hours over several days.
- Add 0.7 pips to Pepperstone's spread for Razor on MT5, or 0.6 on cTrader, to get its all-in figure.
- Multiply the difference by your monthly lots and $10 a pip to see what it is worth.
- Weigh that against licensing and guaranteed stops before deciding.
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Sources
Broker-published pricing.
Does FOREX.com charge commission on forex?
Not on its standard UK account, where the cost is in the spread. Its global site also lists a RAW Spread account with commission, whose rate is not in our data.
Which is cheaper for a beginner trading small sizes?
For small, occasional trades the difference is cents. Pepperstone's $10 minimum against FOREX.com UK's £100 may matter more.
Is FOREX.com regulated in Singapore?
Yes, through StoneX Financial Pte. Ltd., which holds a MAS capital markets services licence.
Forex and CFDs on margin are high-risk products and you can lose money quickly. Pepperstone Markets Limited reports that 80% of retail investor accounts lose money trading CFDs with it. Cost figures are as each broker published them and change often; this is not investment advice.