Side-by-side comparison of Pepperstone and TMGM on every dimension professional traders care about — from fees and leverage to regulators, scalping rules, and EA support. Updated May 2026.
Pepperstone is an Australian broker founded in 2010 in Melbourne, specialised in ECN execution and the favourite of algo / scalping traders. Multiple Tier-1 licenses (FCA + ASIC + DFSA + CySEC).
TMGM (TradeMax Global Markets) is an Australian broker founded in 2013 in Sydney, focused on multi-asset trading: Forex, Stocks, Crypto, Indices. Famous for ECN execution and 12,000+ stock CFDs.
Pepperstone wins 7/13 categories — the better all-round choice.
| Field | Pepperstone | TMGM |
|---|---|---|
| Rebate per lot | $8.20 / lot | $9.40 / lot |
| Spread from | 0 pips | 0 pips |
| Execution speed | 30 ms | 45 ms |
| Max leverage | 1:500 | 1:500 |
| Min deposit | $0 | $100 |
| User rating | 4.7 / 5 (3,210) | 4.0 / 5 (1,245) |
| Trust score | 9.08 / 10 | 8.05 / 10 |
| Execution type | ECN / DMA Aggregation | ECN / DMA |
| Liquidity providers | 22+ | 17+ |
| Regulators | ASIC (AU) #414530 · FCA (UK) #684312 · CySEC (CY) #388/20 | ASIC (AU) #436416 · FMA (NZ) #FSP345553 · VFSC (VU) #40356 |
| Platforms | MT4 · MT5 · cTrader · TradingView · Pepperstone Mobile | MT4 · MT5 · IRESS · TMGM Mobile |
| Payout frequency | รายวัน | ทุก 2 วัน |
| Withdrawal time | 1 วันทำการ | 1-4 ชม. |
| Swap-free / Islamic | ✓ | — |
| Scalping allowed | ✓ | ✓ |
| EA / algo allowed | ✓ | ✓ |
| Negative balance protection | ✓ | ✓ |
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