Dukascopy

4.3(800)

FINMA

Pepperstone

4.5(1800)

BaFin/FCA/ASIC

Dukascopy vs Pepperstone

Head-to-Head Comparison 2026

Our Verdict

Pepperstone has a higher rating of 4.5/5 compared to Dukascopy (4.3/5). The minimum deposit is lower at Pepperstone with 0 €. Pepperstone is BaFin-regulated, while Dukascopy is supervised by FINMA. Dukascopy has been in the market since 1998, making it the more experienced provider. On spreads, Dukascopy offers EUR/USD from 0.1–0.3 pip (ECN) + commission from $1.75 per million, while Pepperstone offers EUR/USD from 0.0 pip (Razor) + $3.50 per lot.

Comparison Table

Criteria	Dukascopy	Pepperstone
Rating	4.3/5 (800 reviews)	4.5/5 (1800 reviews)✓
Regulation	FINMA	BaFin/FCA/ASIC
Fees	From 0.1 pips + volume-based commission (max. $3.50 per lot)	Razor account: from 0.0 pip + €2.60 commission/lot, Standard: from 1.0 pip
Min. Deposit	100 $	0 €
Instruments	Forex, Metals, Indices CFDs, Commodities, Stocks CFDs, Crypto CFDs, Bonds CFDs	Forex, CFDs, Indices, Commodities, Stocks CFDs, Crypto, Currency Indices
Platforms	JForex, MT4, Dukascopy Connect App	MT4, MT5, cTrader, TradingView
Options Trading	Binary options (JForex)	No, but over 1,200 CFD instruments
Spread (typical)	EUR/USD from 0.1–0.3 pip (ECN) + commission from $1.75 per million	EUR/USD from 0.0 pip (Razor) + $3.50 per lot
Execution Speed	—	~30 ms (Equinix LD5)
Founded	1998	2010
Headquarters	Geneva	Melbourne

Detailed Comparison

Fee Comparison

Dukascopy: From 0.1 pips + volume-based commission (max. $3.50 per lot). Minimum deposit: 100 $. Spread: EUR/USD from 0.1–0.3 pip (ECN) + commission from $1.75 per million.

Pepperstone: Razor account: from 0.0 pip + €2.60 commission/lot, Standard: from 1.0 pip. Minimum deposit: 0 €. Spread: EUR/USD from 0.0 pip (Razor) + $3.50 per lot.

Execution Quality

Dukascopy

No data available

Pepperstone

Execution: ~30 ms (Equinix LD5)

Product Range

Dukascopy (7 categories)

ForexMetalsIndices CFDsCommoditiesStocks CFDsCrypto CFDsBonds CFDs

Pepperstone (7 categories)

ForexCFDsIndicesCommoditiesStocks CFDsCryptoCurrency Indices

Trading Platforms

Dukascopy

JForex
MT4
Dukascopy Connect App

Pepperstone

MT4
MT5
cTrader
TradingView

Regulation & Security

Dukascopy is regulated by FINMA (HQ: Geneva).

Pepperstone is regulated by BaFin/FCA/ASIC (HQ: Melbourne).

Who Is It For?

Dukascopy

Swiss ECN bank with professional JForex platform

✓ FINMA-regulated Swiss bank

✓ ECN execution with high liquidity

✓ Professional JForex platform

✗ Complex platform for beginners

✗ Higher entry barrier

Pepperstone

ECN 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

Frequently Asked Questions

Is Dukascopy or Pepperstone cheaper?

Dukascopy charges From 0.1 pips + volume-based commission (max. $3.50 per lot). Pepperstone charges Razor account: from 0.0 pip + €2.60 commission/lot, Standard: from 1.0 pip. The minimum deposit is 100 $ at Dukascopy and 0 € at Pepperstone.

Which broker offers more products: Dukascopy or Pepperstone?

Dukascopy offers Forex, Metals, Indices CFDs, Commodities, Stocks CFDs, Crypto CFDs, Bonds CFDs. Pepperstone offers Forex, CFDs, Indices, Commodities, Stocks CFDs, Crypto, Currency Indices.

Which broker is better regulated?

Dukascopy is regulated by FINMA. Pepperstone is regulated by BaFin/FCA/ASIC. Pepperstone has BaFin regulation, which is particularly advantageous for German investors.

Is Dukascopy or Pepperstone better for beginners?

Dukascopy has a minimum deposit of 100 $ and offers JForex, MT4, Dukascopy Connect App as platforms. Pepperstone has a minimum deposit of 0 € and offers MT4, MT5, cTrader, TradingView. Pepperstone has the lower entry barrier.

Dukascopy vs Pepperstone: Which broker is better overall?

The choice between Dukascopy (4.3/5, 800 reviews) and Pepperstone (4.5/5, 1800 reviews) depends on your needs. Dukascopy: Swiss ECN bank with professional JForex platform. Pepperstone: ECN broker with Razor account and ultra-fast execution.

How do spreads compare between Dukascopy and Pepperstone?

Dukascopy offers typical spreads of EUR/USD from 0.1–0.3 pip (ECN) + commission from $1.75 per million. Pepperstone offers EUR/USD from 0.0 pip (Razor) + $3.50 per lot. Tighter spreads reduce trading costs especially for active trading.

Dukascopy

Swiss ECN bank with professional JForex platform

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From 100 $ min. deposit

Pepperstone

ECN broker with Razor account and ultra-fast execution

Open Account →

From 0 € min. deposit

Dukascopy read review →Pepperstone read review →