Side-by-side comparison of Pepperstone and XM 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).
XM is one of the largest forex brokers with 10+ million clients in 196 countries. Famous for its $30 No Deposit Bonus and free educational content for new traders.
Pepperstone wins 7/13 categories — the better all-round choice.
| Field | Pepperstone | XM |
|---|---|---|
| Rebate per lot | $8.20 / lot | $11 / lot |
| Spread from | 0 pips | 0.6 pips |
| Execution speed | 30 ms | 65 ms |
| Max leverage | 1:500 | 1:1000 |
| Min deposit | $0 | $5 |
| User rating | 4.7 / 5 (3,210) | 4.4 / 5 (4,310) |
| Trust score | 9.08 / 10 | 8.50 / 10 |
| Execution type | ECN / DMA Aggregation | Market Execution / NDD |
| Liquidity providers | 22+ | 12+ |
| Regulators | ASIC (AU) #414530 · FCA (UK) #684312 · CySEC (CY) #388/20 | ASIC (AU) #443670 · CySEC (CY) #120/10 · IFSC (BZ) #000261/397 |
| Platforms | MT4 · MT5 · cTrader · TradingView · Pepperstone Mobile | MT4 · MT5 · XM WebTrader · XM Mobile |
| Payout frequency | รายวัน | รายวัน |
| Withdrawal time | 1 วันทำการ | ภายใน 24 ชม. |
| Swap-free / Islamic | ✓ | ✓ |
| Scalping allowed | ✓ | ✓ |
| EA / algo allowed | ✓ | ✓ |
| Negative balance protection | ✓ | ✓ |
