Broker comparison

Oanda vs.
Pepperstone

Which broker fits your needs?

Platforms, products and fees side by side.

Updated: October 2026

See comparison

Summary

Your goal decides.

Pepperstone has a higher rating of 4.5/5 compared to Oanda (4.2/5). Pepperstone offers 7 instrument types, while Oanda offers 6. Pepperstone is BaFin-regulated, while Oanda is supervised by FCA/NFA. Oanda has been in the market since 1996, making it the more experienced provider. On spreads, Oanda offers EUR/USD from 1.0 pip (Standard), 0.2 pip (Core) + commission, while Pepperstone offers EUR/USD from 0.0 pip (Razor) + $3.50 per lot.

Forex specialist with advanced technology since 1996

ECN broker with Razor account and ultra-fast execution

At a glance

The key differences

Criterion
PlatformsOANDA Trade, MT4, MT5, TradingViewMT4, MT5, cTrader, TradingView
Product typesForex, CFDs, Indices, Commodities, Bonds, MetalsForex, CFDs, Indices, Commodities, Stocks CFDs, Crypto, Currency Indices
Options tradingNo, forex and CFD tradingNo, but over 1,200 CFD instruments
Fee modelSpreads from 0.6 pip (Standard), from 0.2 pip (Core Pricing)Razor account: from 0.0 pip + €2.60 commission/lot, Standard: from 1.0 pip
Minimum deposit0 €0 €
RegulationFCA/NFABaFin/FCA/ASIC
More informationDetailsDetails

Platforms

Oanda

OANDA Trade, MT4, MT5, TradingView

Pepperstone

MT4, MT5, cTrader, TradingView

Product types

Oanda

Forex, CFDs, Indices, Commodities, Bonds, Metals

Pepperstone

Forex, CFDs, Indices, Commodities, Stocks CFDs, Crypto, Currency Indices

Options trading

Oanda

No, forex and CFD trading

Pepperstone

No, but over 1,200 CFD instruments

Fee model

Oanda

Spreads from 0.6 pip (Standard), from 0.2 pip (Core Pricing)

Pepperstone

Razor account: from 0.0 pip + €2.60 commission/lot, Standard: from 1.0 pip

Minimum deposit

Oanda

0 €

Pepperstone

0 €

Regulation

Oanda

FCA/NFA

Pepperstone

BaFin/FCA/ASIC

More information

Oanda

Details

Pepperstone

Details

Product access and costs depend on market, account and permissions.

Detailed comparison

Comparing fees

Compare total costs, not just the order fee.

Spreads from 0.6 pip (Standard), from 0.2 pip (Core Pricing)

Published fee
Spreads from 0.6 pip (Standard), from 0.2 pip (Core Pricing)
Minimum deposit
0 €
Inactivity
$10/month after 12 months of inactivity
See terms at provider

Razor 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
See terms at provider

The relevant costs depend on market, currency, order size and trading style.

Execution quality

Order type, venue and liquidity affect execution.

Check the provider’s execution policy and available order types for your account.

Provider information

Check the provider’s execution policy and available order types for your account.

Provider information

Product range

ForexCFDsIndicesCommoditiesBondsMetals
ForexCFDsIndicesCommoditiesStocks CFDsCryptoCurrency Indices

Categories come from broker profiles. Check specific markets and permissions before deciding.

Trading platforms

OANDA Trade · MT4 · MT5 · TradingView

Oanda offers the OANDA Trade platform, MT4, MT5, and TradingView. The OANDA Trade platform is the proprietary development with an intuitive interface, advanced charting tools, technical analysis indicators, and integrated market analyses. MT4 and MT5 support automated trading with Expert Advisors. TradingView offers a community-based charting environment. All platforms support Oanda's unique flexible lot sizes and provide mobile versions.

Explore platform

MT4 · 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 platform

Regulation & security

BaFin/FCA/ASIC

Regulatory information

Regulation does not prevent market losses. The relevant authority depends on the contracting entity.

Your investor profile

Who might it suit?

Forex specialist with advanced technology since 1996

  • No minimum deposit required
  • Flexible lot sizes from 1 unit
  • Advanced analysis tools
  • Limited product range
  • No stocks or ETFs

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

Find the broker that fits

Oanda oder Pepperstone?

Side by side. Decided with knowledge.

See the differences that matter, and the Academy lessons that explain them.

Oanda4.2
  • No minimum deposit required
  • Flexible lot sizes from 1 unit
  • Advanced analysis tools
Pepperstone4.5
  • Razor account with raw spreads from 0.0 pip
  • Fast execution speed
  • MT4, MT5, cTrader and TradingView
VS
  • Fees
  • Platform
  • Regulation
  • Matching lessons
Two brokers. Many options. Your call.
Open The Dealing Room

Your questions

Frequently asked questions

How do fees differ between Oanda and Pepperstone?
Oanda: Spreads from 0.6 pip (Standard), from 0.2 pip (Core Pricing). 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: Oanda or Pepperstone?
Oanda offers Forex, CFDs, Indices, Commodities, Bonds, Metals. Pepperstone offers Forex, CFDs, Indices, Commodities, Stocks CFDs, Crypto, Currency Indices.
How are Oanda and Pepperstone regulated?
The broker profiles list FCA/NFA for Oanda and BaFin/FCA/ASIC for Pepperstone. Your account's contracting entity determines the applicable oversight and protection rules; check its current disclosures.
Is Oanda or Pepperstone better for beginners?
Oanda lists a 0 € minimum deposit and offers OANDA Trade, MT4, MT5, TradingView. Pepperstone lists 0 € and offers MT4, MT5, cTrader, TradingView. Compare usability, available products and costs for your intended use.
Oanda vs Pepperstone: Which broker is better overall?
The choice between Oanda (4.2/5, 1500 reviews) and Pepperstone (4.5/5, 1800 reviews) depends on your needs. Oanda: Forex specialist with advanced technology since 1996. Pepperstone: ECN broker with Razor account and ultra-fast execution.
How do spreads compare between Oanda and Pepperstone?
Oanda offers typical spreads of EUR/USD from 1.0 pip (Standard), 0.2 pip (Core) + commission. Pepperstone offers EUR/USD from 0.0 pip (Razor) + $3.50 per lot. Tighter spreads reduce trading costs especially for active trading.
Do Oanda or Pepperstone charge an inactivity fee?
Oanda: $10/month after 12 months of inactivity. Pepperstone: no inactivity fee.

Your next step

Your next step

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Before you pick a broker

The guides worth reading before your first trade, whichever of the two you choose.

Options risks & opportunitiesWhat you can lose, and what the risk buys you.Options taxes in GermanyFlat-rate tax, loss offsetting and allowances.Options trading basicsStrike, expiry, underlying: the building blocks of every option.
Terms in the glossary:MarginPremiumCall optionUnderlyingExercise