Pepperstone vs FP Markets: FX Trust Score Breakdown & Key Differences (2025)
This comparison looks at Pepperstone vs FP Markets through the lens of the FX Trust Score Index, our independent scoring framework that evaluates each broker across five pillars: regulation, security and fund protection, trading conditions, customer support and online reputation.
Both brokers are known for their focus on tight spreads and strong trading infrastructure, particularly appealing to active traders and those using algorithmic strategies. However, there are clear differences in regulatory depth, reputation and overall service quality.
Below, you’ll find a side-by-side breakdown of how each broker scores in our FX Trust Score Index, followed by a winners summary, detailed commentary and our overall verdict.
| Criterion | Pepperstone Review | FP Markets Review |
|---|---|---|
| Overall FX Trust Score | 83.5% | 64% |
| Regulatory Compliance | 80% | 75% |
| Security & Fund Protection | 85% | 60% |
| Trading Conditions | 80% | 60% |
| Customer Support | 90% | 70% |
| Online Reputation | 85% | 55% |
Comparison Summary: XM vs FP Markets
Here’s how both brokers typically compare across the main FX Trust Score categories:
Regulation
Pepperstone and FP Markets are both regulated, but Pepperstone’s regulatory profile is stronger overall. It holds licences in multiple top-tier jurisdictions and has built a long-standing reputation under strict oversight.
FP Markets is also regulated in important regions, but its regulatory reach and brand maturity are more limited in comparison.
Security & Fund Protection
Both brokers segregate client funds and follow industry-standard security practices. However, Pepperstone scores higher for security in our FX Trust Score Index, reflecting its regulatory mix, risk management and longer operational history.
FP Markets is not considered unsafe, but it does not match Pepperstone’s trust profile.
Trading Conditions
Trading conditions are a key focus for both brokers.
FP Markets is known for competitive raw spreads on its ECN accounts, particularly attractive to traders who are very cost-sensitive and understand commission-based structures.
- Pepperstone, meanwhile, combines:
- tight spreads
- deep liquidity
- strong execution quality
- multiple platforms (including cTrader)
This balance leads to Pepperstone scoring higher overall in our trading conditions pillar. It offers a more consistent global experience for a wider range of strategies.
Customer Support
Both brokers provide reasonable customer support, but Pepperstone often performs better in terms of speed, professionalism and global coverage. Its scale and experience serving clients in many regions contribute to a slightly higher score.
FP Markets offers support as well, though feedback is more mixed and its coverage is narrower.
Online Reputation
Pepperstone maintains a strong online reputation, with consistently positive feedback from a broad global user base. While no broker is free from complaints, Pepperstone’s sentiment trends are generally more stable and positive than FP Markets’.
FP Markets has a decent reputation, especially among traders who focus on spreads and ECN trading, but does not match Pepperstone’s overall trust footprint.
Overall Winner: Pepperstone
Based on the FX Trust Score Index, Pepperstone is the clear overall winner against FP Markets. It scores higher for regulation, security, trading conditions and online reputation, while customer support is competitive at both brokers.
FP Markets remains attractive for traders specifically seeking raw-spread ECN-style accounts, but Pepperstone offers a more complete package and a stronger trust profile overall.
Comparison: Winners Summary
Regulation
- Winner: Pepperstone
Stronger and broader regulatory coverage across key markets.
Security & Fund Protection
- Winner: Pepperstone
Higher overall security score and well-established operational controls.
Trading Conditions
- Winner: Pepperstone
Competitive spreads and execution, with a more consistent global experience.
Customer Support
- Winner: Narrow Advantage to Pepperstone
Both offer decent support, but Pepperstone’s global presence and responsiveness help it edge ahead.
Online Reputation
- Winner: Pepperstone
More stable long-term sentiment across trader communities and independent review sources.
Conclusion: Which Broker is Better Overall?
For most traders comparing Pepperstone and FP Markets, Pepperstone is the better all-round choice. It offers:
- stronger regulation
- better overall security
- competitive trading conditions
- good platform choice
- a more mature, trusted global brand
FP Markets can still be attractive for traders who are laser-focused on raw-spread ECN trading and are satisfied with a narrower regulatory and reputational footprint.
From the perspective of the FX Trust Score Index, however, Pepperstone is the clear overall winner.
FAQs
In our FX Trust Score Index, Pepperstone scores higher overall, driven by stronger regulation, security, trading conditions and reputation.
Both offer competitive pricing, but Pepperstone delivers a more consistent global experience, while FP Markets is particularly attractive on raw-spread ECN accounts.
Both are regulated, but Pepperstone has a stronger overall security and regulatory profile.
Active traders may prefer Pepperstone for its combination of pricing, execution and platform choice, though FP Markets can appeal to those focused purely on certain raw-spread setups.
Both support MetaTrader (MT4/MT5). Pepperstone additionally offers cTrader, popular with algorithmic and professional traders.
Publication date:
24/11/2025
Author: FX Trust Score
Last updated on November 24, 2025
