Which trading platform is best, Pepperstone or Saxo Capital Markets?

Saxo Capital Markets is a better trading platform compared to Pepperstone based on our broker matrix. Winning in areas such as offering the highest number of markets and the most trading platforms. Compare the main features of these two top brokers Pepperstone and Saxo Capital Markets.

Pepperstone Key Features

pepperstone review
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79.3% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Pepperstone Reviews
Total Markets178
Forex Pairs36
Commodities16
Indices14
UK Stocks0
US Stocks64
Broker specifics
2019 RevenueNA
Number Active Clients57,000
Minimum Deposit£100
Inactivity FeeNone
Founded2010
FX Retails SpreadsPepperstone
EUR/USD Euro vs US Dollar0.13
GBP/USD British pound vs US dollar0.44
USD/JPY US Dollar vs Japanese Yen0.25
EUR/GBP Euro vs British Pound0.41
AUD/USD Australian Dollar vs US Dollar0.14
USD/CAD US Dollar vs Canadian Dollar0.14
USD/CHF US Dollar vs Swiss Franc0.64
NZD/USD NZ Dollar vs US Dollar0.32
EUR/JPY Euro vs Japanese Yen0.22
EUR/AUD Euro vs Australian Dollar0.54
FX Retail Margins
EUR/USD Euro vs US Dollar30:01:00
GBP/USD British pound vs US dollar30:01:00
USD/JPY US Dollar vs Japanese Yen30:01:00
EUR/GBP Euro vs British Pound30:01:00
AUD/USD Australian Dollar vs US Dollar20:01
USD/CAD US Dollar vs Canadian Dollar30:01:00
USD/CHF US Dollar vs Swiss Franc30:01:00
NZD/USD NZ Dollar vs US Dollar20:01
EUR/JPY Euro vs Japanese Yen30:01:00
EUR/AUD Euro vs Australian Dollar20:01
Commodity Spreads
WTI crude (oil)0.5
Brent crude (oil)0.5
Natural Gas0.5
Gold0.5
Silver0.5
Copper (comex)0.195
Cornnot quoted
Wheatnot quoted
Soyabeans1.19
Gasoline RBOBnot quoted
Steelnot quoted
Aluminiumnot quoted
Ironnot quoted
Commodity Margins
WTI crude (oil)10:01
Gold20:01
Cornnot quoted
Brent crude (oil)10:01
Natural Gas10:01
Silver10:01
Copper10:01
Wheatnot quoted
Soyabeans10:01
Gasoline RBOBnot quoted
Steelnot quoted
Aluminiumnot quoted
Ironnot quoted
Index Spreads
Dow Jones Industrials Average (US 30)2.4
Standard & Poor’s 500 (S&P 500)0.6
Nasdaq (Composite and Nasdaq 100)1
Dow Jones Industrials (DJIA)not quoted
UK FTSE 100 (FTSE 100)3
CAC 40 (France 40)1
DAX (Germany 30)0.9
Euro Stoxx 50 (Euro 50)2
Japan 225 (Nikkei 225)8
Hong Kong (Hang Seng Index)30
Index Margins
Dow Jones Industrials Average (US 30)20:01
Standard & Poor’s 500 (S&P 500)20:01
Nasdaq (Composite and Nasdaq 100)20:01
Dow Jones Industrials (DJIA)not quoted
UK FTSE 100 (FTSE 100)20:01
CAC 40 (France 40)20:01
DAX (Germany 30)20:01
Euro Stoxx 50 (Euro 50)20:01
Japan 225 (Nikkei 225)20:01
Hong Kong (Hang Seng Index)10:01
Stocks & Shares Spreads
UK Stock Spreadsnot quoted
US Stock Spreads$0.02 per share
Stocks & Shares Margins
US Stock Margins05:01
UK Stock Marginsnot quoted
Overnight Financing Rates
Forex (tom next plus or minus )not published
Commoditiesnot published
Indicesnot published
UK Stocksnot published
US Stocksnot published
Compare AlternativesPepperstone Versus IG
Pepperstone Versus CMC Markets
Pepperstone Versus Saxo Markets
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Saxo Capital Markets Key Features

saxo capital makets review
Visit Saxo
62% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Saxo Markets Reviews
Total Markets19000
Forex Pairs57
Commodities19
Indices23
UK Stocks?
US Stocks?
Broker specifics
2019 Revenue£316,000,000
Number Active Clients525,000
Minimum Deposit£500
Inactivity Fee£25 per quarter
Founded1992
FX Retails SpreadsSaxo Capital Markets
EUR/USD Euro vs US Dollar0.6
GBP/USD British pound vs US dollar0.7
USD/JPY US Dollar vs Japanese Yen0.6
EUR/GBP Euro vs British Pound0.7
AUD/USD Australian Dollar vs US Dollar0.6
USD/CAD US Dollar vs Canadian Dollar0.6
USD/CHF US Dollar vs Swiss Franc0.7
NZD/USD NZ Dollar vs US Dollar0.11
EUR/JPY Euro vs Japanese Yen0.9
EUR/AUD Euro vs Australian Dollar0.9
FX Retail Margins
EUR/USD Euro vs US Dollar30:01:00
GBP/USD British pound vs US dollar30:01:00
USD/JPY US Dollar vs Japanese Yen30:01:00
EUR/GBP Euro vs British Pound30:01:00
AUD/USD Australian Dollar vs US Dollar20:01
USD/CHF US Dollar vs Swiss Franc30:01:00
NZD/USD NZ Dollar vs US Dollar20:01
EUR/JPY Euro vs Japanese Yen30:01:00
EUR/AUD Euro vs Australian Dollar20:01
Commodity Spreads
WTI crude (oil)0.5
Brent crude (oil)0.5
Natural Gas0.17
Gold0.6
Silver0.35
Copper (comex)0.55
Corn1.25
Wheat2.25
Soyabeansnot quoted
Gasoline RBOB25
Steelnot quoted
Aluminiumnot quoted
Ironnot quoted
Commodity Margins
WTI crude (oil)10:01
Gold20:01
Corn10:01
Brent crude (oil)10:01
Natural Gas10:01
Silver10:01
Copper10:01
Wheat10:01
Soyabeansnot quoted
Gasoline RBOB10:01
Steelnot quoted
Aluminiumnot quoted
Ironnot quoted
Index Spreads
Dow Jones Industrials Average (US 30)3
Standard & Poor’s 500 (S&P 500)0.5
Nasdaq (Composite and Nasdaq 100)1
Dow Jones Industrials (DJIA)not quoted
UK FTSE 100 (FTSE 100)1
CAC 40 (France 40)2
DAX (Germany 30)1
Euro Stoxx 50 (Euro 50)2
Japan 225 (Nikkei 225)12
Hong Kong (Hang Seng Index)12
Index Margins
Dow Jones Industrials Average (US 30)20:01
Standard & Poor’s 500 (S&P 500)20:01
Nasdaq (Composite and Nasdaq 100)20:01
Dow Jones Industrials (DJIA)not quoted
UK FTSE 100 (FTSE 100)20:01
CAC 40 (France 40)20:01
DAX (Germany 30)20:01
Euro Stoxx 50 (Euro 50)20:01
Japan 225 (Nikkei 225)20:01
Hong Kong (Hang Seng Index)10:01
Stocks & Shares Spreads
UK Stock Spreads0.05%
US Stock Spreads$0.01 per share
Stocks & Shares Margins
US Stock Margins05:01
UK Stock Margins05:01
Overnight Financing Rates
Forex (tom next plus or minus )0.75%
CommoditiesVariable based on differentials between front month future, cash price and days to carry to futures expiry +150bp
IndicesInterbank rates +2.50% or -3.0%
UK StocksInterbank rates +3.50% or -3.0%
US StocksInterbank rates +3.50% or -3.0%
Compare AlternativesSaxo Markets Versus IG
Saxo Markets Versus CMC Markets
Saxo Markets Versus Pepperstone
Saxo Markets Versus City Index
Saxo Markets Versus Spreadex

Which trading platform has the best customer reviews?

Pepperstone has better customer reviews than CMC Markets. Pepperstone has the highest scores within the Good Money Guide multi-factor rating system outscoring Saxo Capital Markets by 4.625 to 3.625 points.

The firms each scored 4.4 out of 5.0 in the Apple app store ratings, however, Pepperstone scored highest in Google Play reviews with 4.50 out of 5.0 compared to Saxo Capital Markets' score of 4.10. Pepperstone had a far higher Trustpilot rating with a score of 4.60 against Saxo Capital’s rating of just 2.0 out of 5.0

Find out why customer reviews are important

Which trading platform offers the most markets?

Saxo Markets offers its clients 19,000 markets to trade in many more than the 178 offered by rival broker Pepperstone. Saxo Capital Markets offers more FX pairs, commodities, stocks and equity indices than Pepperstone.

Find out why market access is important

Which trading platform offers the most platforms?

Saxo Markets offers more trading platforms than Pepperstone. It has two in-house dealing systems, SaxoGo and SaxoPro, as well as the Metaquotes MT4 platform.

However, it also offers connectivity to third-party platforms, such as TradingView and Multicharts, which you can trade from.

Pepperstone offers Metaquotes MT4 and MT5 platforms alongside cTrader, all three of which are available in desktop and mobile versions.

Find out why trading platforms are important

Which trading platform offers the most different types of account?

Saxo Markets offers the most different types of accounts with a margin trading account, a direct market access, or DMA account, and an investing account.

Pepperstone offers three trading accounts, its standard and razor accounts, for trading CFDs and FX as well as a dedicated Spread Betting account.

Both Pepperstone and Saxo Capital Markets offer accounts for retail and professional clients.

Find out why account types are important

Which trading platform is a more established business?

Saxo Markets was founded in 1992, 18 years before Pepperstone was established, in 2010.

Saxo Markets set up a permanent presence in London in 2006, whilst Pepperstone opened its London operations in 2016 before going live in 2017.

Find out why a trading platforms history is important

Which trading platform has the lowest trading costs?

Saxo Markets has lower overall trading costs compared to Pepperstone.

However, Pepperstone is the cheapest across the active FX pairs we sampled, with an average spread of just 0.323 pips compared to Saxo Capital Markets' score of 0.641 pips.

Saxo Capital Markets offers the lowest trading costs in equity indices with an average spread of 3.83 index points compared to Pepperstone’s 5.43 points.

Saxo Capital Markets also has the lowest trading costs in US equity trading at 1 cent per share versus Pepperstone's charge of 2 cents.

Find out why trading costs are important

Which trading platform offers the most margin?

Pepperstone offers the most margin with leverage of up to 500:1 for professional clients versus Saxo Capital Markets' maximum leverage of 66:1.

Margins for retail traders are set at the FCA/ESMA thresholds at both Pepperstone and Saxo Capital Markets. These are the maximum leverage ratios permitted under the current UK and European legislation.

Find out why leverage and margin are important

Which trading platform offers the lowest overnight financing rates?

Saxo Markets is the only one of the two brokers to publish any information on overnight funding charges so no direct comparison was possible.

Find out why overnight financing rates are important

Which trading platform offers the most added value?

Saxo Markets offers the most added value, both they and Pepperstone score 5 out of a maximum of 6 in this metric, but Saxo Markets has a wider range of research and analysis compared to Pepperstone.

Both Saxo Markets and Pepperstone offer educational webinars and tutorials for both the novice and more advanced traders and each publishes regular analysis, research and market updates to keep clients informed and to highlight trading opportunities.

Each firm also offers a personal service to its customers, particularly to their more active traders.

Find out why added value is important

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