Which trading platform is best, CMC Markets or Pepperstone?

In a comparison of CMC Markets versus Pepperstone based purely on the data within our database and scoring systems, CMC Markets is judged to have the best platform in terms of the breadth of markets and products it offers, when compared to Pepperstone. Pepperstone does beat CMC Markets by 6 to 5 in the 11 FX instruments we sampled and Pepperstone’s average spreads across those instruments were also lower overall whereas CMC Markets is a FTSE 250 company with a market of £1.24 billion, whilst the smaller Pepperstone is privately held and owned by its management giving CMC Markets a technical advantage.

CMC Markets Key Features


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66% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.
CMC Markets Reviews
CMC Markets Total Markets
11000
Forex Pairs338
Commodities124
Indices82
UK Stocks745
US Stocks4968
ETFs1084
CMC Markets Key Info
Number Active Clients308644
Minimum Deposit0
Inactivity Fee£10 per month
Founded1989
Public Company✔️
CMC Markets Account Types
CFD Trading✔️
Forex Trading✔️
Spread Betting✔️
DMA (Direct Market Access)
Futures Trading
Options Trading
Investing Account
CMC Markets Average Costs
FTSE 1001
DAX 301
DJIA2
NASDAQ1
S&P 5000.5
EURUSD0.7
GBPUSD0.9
USDJPY0.7
Gold0.3
Crude Oil3
UK Stocks0.001
US Stocks$0.02 per share
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Table last updated: 24th November 2021 3:05 pm

Pepperstone Key Features

pepperstone review
Visit Pepperstone
79.3% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Pepperstone Reviews
Pepperstone Total Markets
178
Forex Pairs62
Commodities32
Indices28
UK Stocks192
US Stocks880
ETFs107
Pepperstone Key Info
Number Active Clients110000
Minimum Deposit0
Inactivity Fee0
Founded2010
Public Company
Pepperstone Account Types
CFD Trading✔️
Forex Trading✔️
Spread Betting✔️
DMA (Direct Market Access)
Futures Trading
Options Trading
Investing Account
Pepperstone Average Fees
FTSE 1001
DAX 300.9
DJIA2.4
NASDAQ1
S&P 5000.4
EURUSD0.09
GBPUSD0.28
USDJPY0.14
Gold0.05
Crude Oil2
UK Stocks0.001
US Stocks$0.02 per share
Compare AlternativesPepperstone Versus IG
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Which trading platform has the best customer reviews?

Pepperstone has an average customer review rating that is +16 % above that of CMC Market when using our unique approach to analysing customer reviews where we rank brokers and platforms using our proprietary scoring system.

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Which trading platform offers the most markets?

CMC Markets is the clear winner, offering more than 9,000 markets and instruments across different asset classes, compared to Pepperstone’s far smaller universe of just a few hundred markets.

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Which trading platform offers the most platforms?

Pepperstone offers more trading platforms than CMC Markets which include MT4, MT5,  cTrader and their respective mobile versions. While CMC Markets only offers its in-house next-generation platform, alongside MT4, with both platforms made available in desktop and mobile variants.

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Which trading platform offers the most different types of account?

Pepperstone offers more accounts types than CMC Markets. Pepperstone has four different account types on offer, compared to CMC Markets three. Both firms offer FX and CFD trading alongside spread betting, and each offers professional trading and retail accounts to its customers.

However, Pepperstone offers a Razor account that is specifically aimed at high-frequency traders and EA users whilst CMC Markets has a prime brokerage and institutional division, an area of business that Pepperstone is not involved in, however, that is not relevant in a comparison for retails or professional traders.

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Which trading platform is a more established business?

CMC Markets is the more established business, founded in 1989, compared to Pepperstone which was set up in 2010. CMC Markets is also a listed company and a member of the FTSE 250 Index, with a market capitalisation of £1.24 billion as of the time of writing (August 2021). Pepperstone is a private company that is owned by members of its management team, following a 2018 buyout from its former Private Equity owners.

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Which trading platform has the lowest trading costs?

When it comes to the spreads charged on equity indices, CMC Markets comes out ahead with an average spread of 3.28 points compared to Pepperstone’s 5.78 points. however, direct comparisons here are directly impacted by the fact that CMC Markets offers so many more instruments than Pepperstone. Pepperstone has the edge in 11 key FX rates whilst CMC markets are cheaper in energy markets.

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Which trading platform offers the most margin?

CMC Markets offers slightly better margins compared to Pepperstone as their professional account offers leverage of upto 500:1 on indices and forex trading. Pepeprstone matches CMC Markets on pro margins in FX, but it only offers maximum leverage of 200:1 in indices trading.

Margins on major FX pairs are the same across the board at CMC markets and Pepperstone with each of them applying the now-familiar FCA/ ESMA restrictions of 30: 1 with volatile pairs such as AUD USD and EUR JPY offered at margins of 20:1 There is also uniformity in commodity contracts where margins are set at 10:1, and indices where 20:1 is the norm except for the Hong Kong 50 which is the lower rate of 10:1.

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Which trading platform offers the lowest overnight financing rates?

CMC Markets is quite transparent about its overnight financing charges whereas Pepperstone doesn’t publish its fees or calculation methodology for products, other than FX, and even here it simply refers to” tom next rates” without specifying or publishing what these are. This means that we can’t make a direct comparison between the two sets of costs.

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Which trading platform offers the most added value?

CMC Markets adds more value than Pepperstone, with six points of added value compared to Pepperstones five. Both firms offer analysis, news, research, charting and personal service. CMC Market also offers client sentiment. plus positioning tools and data, something that Pepperstone doesn’t offer as standard.

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