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Broker Score | Min. Deposit | Regulation | Trading Desk Type | Trading Instruments | Forex Pairs | Crypto Pairs | Pros | Cons | Regulation | Trading Conditions | Trading Platforms | Deposit & Withdrawal | Education & Research | Assets Available | Customer Service | % Lose with this broker | Leverage | Spread | Hedging | Scalping | Account Types | Islamic Account | Trading Platforms | Funding Methods | Trading Commission | ||
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USD 0 | ECN/DMA, STP | Cryptocurrencies, Energies, Forex, Indices, Metals | 71 | 14 |
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| Read Review | 66% | 500:1 | 0.10 pips | Yes | Yes | ECN Advanced, ECN Standard, ECN XL | Yes | MT4 | Bank Transfer, Mastercard, Neteller, Skrill, Unionpay, Visa | None | ||||||||||
USD 0 | NDD | Commodities, Cryptocurrencies, Stock CFDs, ETFs, Forex, Indices, Metals, Energies | 90 | 30 |
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| Read Review | 78% | 400:1 | 0 pips | Yes | Yes | cTrader Razor, MT5 Razor, MT4 Razor, Standard, Swap-free | Yes | MT4, MT5, cTrader, TradingView | Bank Transfer, BPay, Mastercard, Neteller, Paypal, POLi, Skrill, Unionpay, Visa | 6 USD / lot |
The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.
At FX Scouts Tanzania, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.
To compare Pepperstone and FXCC, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.
Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.
In our comparison, we found that Pepperstone holds three Tier 1 and two Tier 2 licences, and FXCC holds one Tier 1 and no Tier 2 licences.
Based on these findings, Pepperstone earned a higher trust rating than FXCC.
Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged.
Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that FXCC has overall lower trading costs than Pepperstone.
Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms.
In this case, Pepperstone offers support for cTrader, MT4, MT5 and TradingView and FXCC offers support for MT4.
Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both FXCC and Pepperstone offer copy trading.
A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that Pepperstone offers a greater range and depth of instruments to trade than FXCC. Pepperstone offers 90 Forex pairs to trade and FXCC offers 71 Forex pairs to trade.
In this case, Pepperstone offers 30 cryptocurrencies while FXCC offers 14 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with Pepperstone.
Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals.
We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that neither FXCC nor Pepperstone charges a withdrawal fee. Overall, Pepperstone has better deposit and withdrawal processes than FXCC.
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
FXCC and Pepperstone both have moderate educational support. Both FXCC and Pepperstone offer educational support for more experienced traders.
To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field.
We found that Pepperstone offers better research analysis than FXCC and that both FXCC and Pepperstone offer frequent webinars.
One of our highest rated brokers for Tanzanian traders, Pepperstone was founded in Australia in 2010 and is globally renowned for its low trading costs and choice of trading platforms. Pepperstone keeps costs low with some of the tightest spreads we've seen, starting at 1.00 (EUR/USD) on its Standard Account. For those who prefer classic ECN trading, the Razor Account has low commissions and spreads averaging at just 0.10 pips on the EUR/USD. Neither account has a required minimum deposit.
Despite the low costs, we are disappointed with Pepperstone's complicated commission structure. But more experienced traders will appreciate Pepperstone’s trading platform options, including MT4, MT5, and cTrader, which integrates seamlessly with the TradingView tool. All are available on desktop and mobile devices. Pepperstone’s education section is not the most extensive we’ve seen, but it is competent and well-structured, making it a good place to start for beginner traders.
Established in 2010, FXCC is a CySEC-regulated Forex/CFD broker. An STP/ECN broker, FXCC has three live account types. Minimum deposit on the most popular account (ECN XL Account) is 100 USD, leverage is up to 1:300 on FX pairs, and its variable spreads average around 0.6 pips. It offers commission-free trading, but unlike traditional STP/ECNs, it charges a significant spread mark-up on 2 of its accounts.
Trading platform choice is limited to MT4, but is available on multiple devices as well as major web browsers. FXCC provides minimal educational material, and lacks in market research and analysis compared to its peers. Customer service is available 24/5 via live chat, telephone and email.