Broker comparison

CMC Markets 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 CMC Markets (4.3/5). Pepperstone offers 7 instrument types, while CMC Markets offers 6. CMC Markets has been in the market since 1989, making it the more experienced provider. On spreads, CMC Markets offers EUR/USD from 0.7 pip (typical), while Pepperstone offers EUR/USD from 0.0 pip (Razor) + $3.50 per lot. Execution speed: CMC Markets ~30 ms, Pepperstone ~30 ms (Equinix LD5).

Award-winning Next Generation platform with over 12,000 products

ECN broker with Razor account and ultra-fast execution

At a glance

The key differences

Criterion
PlatformsNext Generation, MT4, CMC MobileMT4, MT5, cTrader, TradingView
Product typesCFDs, Forex, Indices, Commodities, Stocks CFDs, TreasuriesForex, CFDs, Indices, Commodities, Stocks CFDs, Crypto, Currency Indices
Options tradingNo, CFDs and spread bettingNo, but over 1,200 CFD instruments
Fee modelSpreads from 0.7 pip on forex, no commission on standard accountRazor account: from 0.0 pip + €2.60 commission/lot, Standard: from 1.0 pip
Minimum deposit0 €0 €
RegulationBaFin/FCABaFin/FCA/ASIC
More informationDetailsDetails

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

More information

CMC Markets

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 0.7 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
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

CFDsForexIndicesCommoditiesStocks CFDsTreasuries
ForexCFDsIndicesCommoditiesStocks CFDsCryptoCurrency Indices

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

Trading platforms

Next 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 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

Regulatory information

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?

Award-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

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

CMC Markets oder Pepperstone?

Side by side. Decided with knowledge.

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

CMC Markets4.3
  • Award-winning Next Generation platform
  • Over 12,000 CFD products
  • BaFin-regulated
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 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.

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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