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Head to head
ThinkMarkets or Pepperstone? Fees, regulation, platform and product range compared side by side — with a verdict drawn from the data.
Risk warning: CFDs and leveraged products are complex instruments and come with a high risk of losing money rapidly. Investments can fall in value. Past performance is not an indicator of future results.
Raw-spread pricing, six licences and a strong mobile app - held back by its withdrawal record.
Raw spreads and five platforms for traders who care about execution cost, not about owning the asset.
Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.
Four decision axes, each derived from the recorded data.
Overall Pepperstone takes it, 4.4 against 4.1 out of 5. The two pricing models cannot be converted like for like; the fee rows in the table carry the detail. Pepperstone scores 82 against 79 out of 100 on the group index. Your account's protection depends on its legal entity. Pepperstone covers more ground with 9 of 14 asset classes against 8. We rate platform and app at 4.4 out of 5 for both. Which one is right depends on which of these axes matters for your trading profile.
Up to four brokers at once — every row a decision point.
Data as of: 30 Aug 2026
| Criterion | ||
|---|---|---|
| Overall score | 4.1 | 4.4 — Better |
| Group index | 79 of 100 | 82 of 100 |
| Best for | Active FX tradersMobile-first tradersRaw-spread scalpingShare CFD breadthCopy trading | Active FX tradersScalping and day tradingMetaTrader and cTrader usersIndex CFD tradingUK spread betting |
| Regulation | FCAASICJFSACySECFSCAFSA | FCAASICBaFinCySECDFSASCBCMA |
| Top-tier licences | 3 | 3 |
| Investor protection | £85,000 | £85,000 |
| Listed group | No | No |
| Banking licence | No | No |
| Segregated client accounts | Yes | Yes |
| Negative balance protection | Yes | Yes |
| Audited financials | No | Yes |
| Disclosed regulatory actions | None | None |
| Founded | 2010 | 2010 |
| Headquarters | London, GB | Melbourne, AU |
| Fees | 4.4 | 4.6 — Better |
| Safety & regulation | 4.1 | 4.4 — Better |
| Trading platform | 4.3 | 4.6 — Better |
| Product range | 3.9 — Better | 3.6 |
| Mobile app | 4.5 — Better | 4.2 |
| Research | 3.6 | 4.2 — Better |
| Customer support | 3.9 | 4.5 — Better |
| Deposit & withdrawal | 3.8 | 4.5 — Better |
| Account opening | 4.4 | 4.6 — Better |
| Education | 3.2 | 3.4 — Better |
| Reference order EUR 5,000 | €5.00 | 0.1 % (CFD) |
| Minimum deposit | None — Better | US$10 |
| Stocks (per order) | in the spread | 0.1 % (CFD) |
| US stocks | in the spread | US$0.02/share (CFD) |
| ETFs | in the spread | US$0.02/share (CFD) |
| Options | Not offered | Not offered |
| Futures | Not offered | Not offered |
| Crypto | in the spread | in the spread |
| Bonds (order) | n/a | n/a |
| Funds (order) | n/a | n/a |
| EUR/USD spread | 1.1 pips | 0.8 pips — Better |
| Index CFD spread | n/a | n/a |
| FX conversion | n/a | n/a |
| Inactivity fee | £10 · after 6 months | None — Better |
| Custody fee | n/a | None |
| Withdrawal fee | free — Better | £15 |
| Deposit fee | Free on every published method except PayPal deposits in Australia, which carry a 2.5 percent charge. | free |
| Overnight financing | n/a | 2.5 % |
| Other fees |
|
|
| Asset classes (of 14) | 8 | 9 — Better |
| Exchanges | n/a | n/a |
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | No | No |
| Futures | No | No |
| Forex | Yes | Yes |
| CFDs | Yes | Yes |
| Crypto | Yes | Yes |
| Bonds | No | No |
| Funds | No | No |
| Commodities | Yes | Yes |
| Indices | Yes | Yes |
| Warrants | No | No |
| Spread betting | No | Yes |
| Social trading | Yes | Yes |
| Platforms | ThinkTraderThinkTrader mobileMetaTrader 4MetaTrader 5TradingViewThinkCopy and ZuluTrade | MetaTrader 4MetaTrader 5cTraderTradingViewPepperstone PlatformPepperstone appFIX API |
| Demo account | Yes | Yes |
| Fractional shares | No | No |
| Maximum leverage | 1:30 · Pro 1:500 | 1:30 · Pro 1:500 |
| Account opening | Fully digital, commonly approved the same business day | Fully digital, typically approved in 4-8 hours |
| Account types | StandardThinkZeroIslamic (swap-free)Demo | RazorStandardSpread betting (UK only)Swap-freeActive Trader |
| Payment methods | Bank transferSEPACredit cardDebit cardPayPalSkrillNetellerApple PayGoogle PayCrypto | Bank transferSEPACredit cardDebit cardPayPalSkrillNetellerApple PayGoogle Pay |
| Account currencies | USDEURGBPAUDCHFSGDNZD | GBPUSDEURCHF |
| Deposit time | Instant for cards and e-wallets, 1-3 business days by bank transfer | Instant for cards and e-wallets, 1-3 business days by bank transfer |
| Withdrawal time | Processed within 24 hours by the broker, then 1-7 business days to reach your account | 1-3 business days, international wires up to 5 |
| Free withdrawals | n/a | n/a |
| Languages | EnglishGermanSpanishFrenchItalianPortugueseChineseArabicJapaneseThai | EnglishGermanSpanishFrenchPortugueseChineseArabicThaiVietnamese |
| Channels | PhoneEmailLive chat | PhoneEmailLive chat |
| Availability | 24/5 for clients of the FCA and ASIC entities | 24/5, with roughly 18 hours a day of weekend cover |
Editorial assessment based on the recorded data.
ThinkMarkets
Raw-spread pricing, six licences and a strong mobile app - held back by its withdrawal record.
Pros
Cons
Best for
Pepperstone
Raw spreads and five platforms for traders who care about execution cost, not about owning the asset.
Pros
Cons
Best for
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Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.
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