CMC MarketsSpreads from 0.7 pip on forex, no commission on standard account
- Published fee
- Spreads from 0.7 pip on forex, no commission on standard account
- Minimum deposit
- 0 €
- Inactivity
- £10/month after 12 months of inactivity
Broker comparison
CMC Markets vs.
Pepperstone
Which broker fits your needs?
Platforms, products and fees side by side.
Checked on 22 October 2026
See comparisonCMC Markets
PepperstoneVS
Summary
Your goal decides
Pepperstone has a higher rating of 4.5/5 compared to CMC Markets (4.3/5). Pepperstone offers 7 instrument types, while CMC Markets offers 6. Oversight: CMC Markets: BaFin/FCA; Pepperstone: BaFin/FCA/ASIC. CMC Markets: No, CFDs and spread betting. Pepperstone: No, but over 1,200 CFD instruments. CMC Markets has been in the market since 1989, making it the more experienced provider.
CMC MarketsAward-winning Next Generation platform with over 12,000 products
PepperstoneECN broker with Razor account and ultra-fast execution
At a glance
The key differences
| Criterion | CMC Markets | Pepperstone |
|---|---|---|
| Platforms | Next Generation, MT4, CMC Mobile | MT4, MT5, cTrader, TradingView |
| Product types | CFDs, Forex, Indices, Commodities, Stocks CFDs, Treasuries | Forex, CFDs, Indices, Commodities, Stocks CFDs, Crypto, Currency Indices |
| Options trading | No, CFDs and spread betting | No, but over 1,200 CFD instruments |
| Fee model | Spreads from 0.7 pip on forex, no commission on standard account | Razor account: from 0.0 pip + €2.60 commission/lot, Standard: from 1.0 pip |
| Minimum deposit | 0 € | 0 € |
| Regulation | BaFin/FCA | BaFin/FCA/ASIC |
| More information | Details | Details |
Platforms
CMC Markets
Next Generation, MT4, CMC Mobile
Pepperstone
MT4, MT5, cTrader, TradingView
Product types
CMC Markets
CFDs, Forex, Indices, Commodities, Stocks CFDs, Treasuries
Pepperstone
Forex, CFDs, Indices, Commodities, Stocks CFDs, Crypto, Currency Indices
Options trading
CMC Markets
No, CFDs and spread betting
Pepperstone
No, but over 1,200 CFD instruments
Fee model
CMC Markets
Spreads from 0.7 pip on forex, no commission on standard account
Pepperstone
Razor account: from 0.0 pip + €2.60 commission/lot, Standard: from 1.0 pip
Minimum deposit
CMC Markets
0 €
Pepperstone
0 €
Regulation
CMC Markets
BaFin/FCA
Pepperstone
BaFin/FCA/ASIC
Product access and costs depend on market, account and permissions.
Detailed comparison
Comparing fees
Compare total costs, not just the order fee.
CMC MarketsPepperstoneRazor account: from 0.0 pip + €2.60 commission/lot, Standard: from 1.0 pip
- Published fee
- Razor account: from 0.0 pip + €2.60 commission/lot, Standard: from 1.0 pip
- Minimum deposit
- 0 €
- Spread figure
- EUR/USD from 0.0 pip (Razor) + $3.50 per lot
The relevant costs depend on market, currency, order size and trading style.
Worked out
What does it actually cost?
Typical months at CMC Markets and Pepperstone, priced from their published fee schedules. Spreads, FX and exchange fees come on top depending on the venue.
| Scenario | CMC Markets | Pepperstone |
|---|---|---|
| 10 lots of EUR/USD a month | US$50Minimum EUR/USD spread from 0.5 pts × $10 × 10; €0 commission on forex | US$113Standard account: average EUR/USD spread 1.13 pip × $10 × 10; no commission |
| Custody and account fee per year | €0No inactivity fees | €0No account-keeping or inactivity fee |
Checked on 22 October 2026. Prices can change; the current fee schedule is what counts. Sources: cmcmarkets.com · cmcmarkets.com · pepperstone.com · pepperstone.com
Execution quality
Order type, venue and liquidity affect execution.
CMC MarketsCheck the provider’s execution policy and available order types for your account.
Provider informationPepperstoneCheck the provider’s execution policy and available order types for your account.
Provider informationProduct range
CMC MarketsCFDsForexIndicesCommoditiesStocks CFDsTreasuries
PepperstoneForexCFDsIndicesCommoditiesStocks CFDsCryptoCurrency Indices
Categories come from broker profiles. Check specific markets and permissions before deciding.
Trading platforms
CMC MarketsNext Generation · MT4 · CMC Mobile
CMC Markets offers the Next Generation platform, MT4, and the CMC Mobile app. Next Generation is the award-winning main platform with over 115 technical indicators, modular chart layout, pattern recognition tools, integrated Reuters news, and client sentiment analysis. MT4 is available for automated trading with Expert Advisors. The CMC Mobile app provides the full range of features on the go, including all charting capabilities and push notifications.
Explore platformPepperstoneMT4 · MT5 · cTrader · TradingView
Pepperstone offers four trading platforms: MT4 and MT5 for classic forex trading with Expert Advisors and automated strategies. cTrader impresses with a modern interface, advanced charting, Level II price data, and algorithmic trading via cAlgo. TradingView enables social trading with one of the world's largest trader communities. All platforms support the Razor account with raw spreads and offer mobile versions for trading on the go.
Explore platformYour investor profile
Who might it suit?
CMC MarketsAward-winning Next Generation platform with over 12,000 products
- Award-winning Next Generation platform
- Over 12,000 CFD products
- BaFin-regulated
- Only CFD trading, no real stocks
- Inactivity fee after 12 months
PepperstoneECN broker with Razor account and ultra-fast execution
- Razor account with raw spreads from 0.0 pip
- Fast execution speed
- MT4, MT5, cTrader and TradingView
- No options trading
- No real stocks, only CFDs
Find the broker that fits
CMC Markets oder Pepperstone?
Side by side. Decided with knowledge.
See the differences that matter, and the Academy lessons that explain them.
VS
- Fees
- Platform
- Regulation
- Matching lessons
Two brokers. Many options. Your call.
CMC Markets and Pepperstone do not earn the same way
The table shows what they cost. These lessons show how they earn, which is what the difference is made of.
Who is on the other side?
Whether your order leaves the building or stops at the desk
Open the lesson →Taking the other side
What it means when the broker holds the other side itself
Open the lesson →The fill you actually get
Why the price on screen and the price you get are not the same
Open the lesson →Your questions
Frequently asked questions
How do fees differ between CMC Markets and Pepperstone?
CMC Markets: Spreads from 0.7 pip on forex, no commission on standard account. Pepperstone: Razor account: from 0.0 pip + €2.60 commission/lot, Standard: from 1.0 pip. Compare total costs for the specific market, product, currency and order size in the current fee schedule.
Which broker offers more products: CMC Markets or Pepperstone?
CMC Markets offers CFDs, Forex, Indices, Commodities, Stocks CFDs, Treasuries. Pepperstone offers Forex, CFDs, Indices, Commodities, Stocks CFDs, Crypto, Currency Indices.
How are CMC Markets and Pepperstone regulated?
The broker profiles list BaFin/FCA for CMC Markets and BaFin/FCA/ASIC for Pepperstone. Your account's contracting entity determines the applicable oversight and protection rules; check its current disclosures.
Is CMC Markets or Pepperstone better for beginners?
CMC Markets lists a 0 € minimum deposit and offers Next Generation, MT4, CMC Mobile. Pepperstone lists 0 € and offers MT4, MT5, cTrader, TradingView. Compare usability, available products and costs for your intended use.
CMC Markets vs Pepperstone: Which broker is better overall?
The choice between CMC Markets (4.3/5, 1400 reviews) and Pepperstone (4.5/5, 1800 reviews) depends on your needs. CMC Markets: Award-winning Next Generation platform with over 12,000 products. Pepperstone: ECN broker with Razor account and ultra-fast execution.
How do spreads compare between CMC Markets and Pepperstone?
CMC Markets offers typical spreads of EUR/USD from 0.7 pip (typical). Pepperstone offers EUR/USD from 0.0 pip (Razor) + $3.50 per lot. Tighter spreads reduce trading costs especially for active trading.
Do CMC Markets or Pepperstone charge an inactivity fee?
CMC Markets: £10/month after 12 months of inactivity. Pepperstone: no inactivity fee.
Your next step
Your next step
CMC MarketsAward-winning Next Generation platform with over 12,000 products
Open accountRead reviewPepperstoneECN broker with Razor account and ultra-fast execution
Open accountRead reviewKeep learning
Before you pick a broker
The guides worth reading before your first trade, whichever of the two you choose.