Pepperstone vs XM: FX Trust Score Breakdown & Key Differences (2025)
Choosing between Pepperstone and XM is a common decision for traders who want a broker with strong regulation, competitive trading conditions and reliable support. This comparison uses the FX Trust Score Index, our independent rating system that evaluates each broker across five key pillars: Regulation, Security & Fund Protection, Trading Conditions, Customer Support and Online Reputation.
Our goal is simple; to help you quickly see which broker performs better overall and which one better fits your personal trading needs. Below, you’ll find a side-by-side breakdown of Pepperstone and XM across all FX Trust Score pillars, followed by expert insights, category winners and direct links to full reviews.
Side-by-Side Performance Across All FX Trust Score Pillars
| Criterion | Pepperstone Review | XM Review |
|---|---|---|
| Overall FX Trust Score | 83.5% | 78.9% |
| Regulatory Compliance | 80% | 80% |
| Security & Fund Protection | 85% | 80% |
| Trading Conditions | 80% | 75% |
| Customer Support | 90% | 78% |
| Online Reputation | 85% | 80% |
Comparison Summary: Pepperstone vs XM
Below is an explanation of how each broker performed across the FX Trust Score categories.
Regulation
- Both Pepperstone and XM are well-regulated, but Pepperstone typically scores higher due to its stronger regulatory mix and robust oversight structure. XM is still regulated by reputable authorities, but Pepperstone tends to offer a slightly higher compliance standard overall.
Security & Fund Protection
- Both brokers demonstrate strong client fund protections. Pepperstone often leads slightly with stricter internal safeguards, segregation standards and operational transparency, while XM also provides solid security but may score marginally lower depending on region.
Trading Conditions
- This is traditionally a Pepperstone strength. The broker is known for very tight spreads, low-latency execution and superior pricing for active traders and scalpers.
XM, on the other hand, provides flexible account types and stable conditions but tends to score slightly lower on pure execution and spreads.
Customer Support
- Both brokers offer multilingual and responsive support.
However, this category is often very close, with XM sometimes scoring slightly higher for availability and localisation, while Pepperstone excels in response speed and service quality.
Online Reputation
- Pepperstone generally has a more consistently positive sentiment footprint, particularly among advanced traders. XM, whilst highly popular and widely used, tends to receive more mixed sentiment depending on region and account type.
Overall Winner: Pepperstone
Based on the FX Trust Score Index, Pepperstone typically outperforms XM overall, offering stronger trading conditions, excellent execution quality, a wider regulatory framework and high client fund protections.
That said, XM remains a very strong, reputable and beginner-friendly broker, especially appealing to traders who prefer flexible account structures, educational resources and promotional offerings.
Comparison: Winners Summary
Regulation
- Winner: Pepperstone
Stronger regulatory structure and compliance history.
Security & Fund Protection
- Winner: Pepperstone
Better internal safeguards and operational controls.
Trading Conditions
- Winner: Pepperstone
Superior spreads, execution speed and trading technology.
Customer Support
- Winner: Depends on needs
Pepperstone = faster response time
XM = broader multilingual coverage
Online Reputation
- Winner: Pepperstone
More consistently high sentiment scores.
Conclusion: Which Broker is Better Overall?
For most traders, especially those who prioritise spreads, execution speed and regulatory strength, Pepperstone delivers the better all-round package. However, XM remains an excellent choice if you value:
- Flexible account types
- Extensive educational materials
- Bonus structures (where applicable)
- Multilingual support
Both brokers are reputable, safe and suitable for different types of traders.
We recommend reviewing each full broker review before making a final decision.
FAQs
Both brokers are safe and well-regulated, but Pepperstone typically maintains a stronger regulatory profile and higher trust score in security-related categories.
Pepperstone generally leads with tighter spreads and faster execution, especially on Razor accounts.
XM is often considered more beginner-friendly due to its educational materials and flexible accounts.
Both perform well. Pepperstone offers very fast response times, whilst XM provides broader language support.
Not a guarantee, but it does reflect stronger regulation, security controls and trader sentiment.
Publication date:
22/11/2025
Author: FX Trust Score
Last updated on November 22, 2025
