Pepperstone
Trust rank #10 · Founded 2010
Pepperstone is a well-regarded forex broker offering access to forex and CFD markets through multiple trading platforms, with tools for analysis and risk management.
Read the Pepperstone reviewPepperstone vs Saxo Bank (2026): regulation, platforms and costs compared
Advertiser disclosure: some links on this page may be affiliate links, meaning BrokerCatalogue may earn a commission if you open an account. This never affects the data shown here, which is drawn from our catalogue and compared mechanically. How we make money.
Data refreshed 25 Aug 2026 · Compiled by David Ispiryan
Saxo Bank
Trust rank #4 · Editorial rating 10 / 10 · Founded 1992
Saxo Bank is a well-regarded forex broker with a proprietary multi-asset trading platform, broad access to currency pairs, advanced charting, and research-driven tools. It emphasizes robust technology, risk management features, and a…
Read the Saxo Bank reviewPepperstone (Australia, founded 2010) holds 8 regulatory licences (ASIC, BaFin, CMA, CySEC, DFSA…), 3 of them tier-1, offers cTrader, MT4, MT5, TradingView and sits in our low-fee bracket. Saxo Bank (Denmark, founded 1992) holds 6 regulatory licences (ASIC, DFSA, FCA, FINMA, MAS…), 5 of them tier-1, offers Proprietary, TradingView and sits in our low-fee bracket. The two overlap in 40 countries; Pepperstone is available in 189 countries where Saxo Bank is not, and Saxo Bank in 2 where Pepperstone is not.
Verdict at a glance
- Pepperstone leads on regulatory coverage, platform choice and country coverage.
- Saxo Bank leads on trust rank, track record and tier-1 licences.
- Level on instrument range and fee level.
Scored on 8 measurable dimensions where both brokers have verified data. Dimensions missing for either side are excluded rather than guessed. This is a data summary, not a recommendation.
Pepperstone vs Saxo Bank: side-by-side data
| Criteria | Pepperstone | Saxo Bank |
|---|---|---|
| Editorial rating | Not verified | 10 / 10 |
| Trust rank | #10 | #4 |
| Founded | 2010 | 1992 |
| Headquarters | Australia | Denmark |
| Regulators | ASIC, BaFin, CMA, CySEC, DFSA, FCA, FSCA, SCB | ASIC, DFSA, FCA, FINMA, MAS, SFC |
| Broker type | ECN, STP | DMA, STP |
| Platforms | cTrader, MT4, MT5, TradingView | Proprietary, TradingView |
| Instruments | Commodities, Cryptocurrencies, Forex, Indices, Metals | Commodities, Cryptocurrencies, Forex, Indices, Metals |
| Countries accepted | 229 countries | 42 countries |
| Fee level | Low | Low |
| Trading types | CFD Trading, Spot Trading | CFD Trading, Spot Trading |
| Best-for use cases | Copy Trading, Professional Trading, Retail Trading | Professional Trading, Retail Trading |
Highlighted cells mark the stronger value where a direction is objectively better (e.g. more licences, lower fees). "Not verified" means the field is not yet in our catalogue for that broker — we never fill gaps with estimates.
Pros
Pepperstone
- Raw spreads from 0.0 pips + low commissions
- Ultra-low-latency market execution, deep liquidity
- NDD/STP model with scalping, hedging, and EAs allowed
- MT4/MT5, cTrader, TradingView, and API support
- Top-tier regulation (FCA, ASIC)
Saxo Bank
- Proprietary pro-grade platforms (SaxoTraderGO/PRO)
- Deep liquidity aggregation; competitive FX spreads
- Wide FX product suite: spot, forwards, swaps, options
- DFSA-regulated bank; segregated client funds
- OpenAPI/FIX access for algorithmic trading
Cons
Pepperstone
- No guaranteed stop-loss orders
- Negative balance protection limited to EU/UK retail clients
- Not available to U.S. residents
- CFDs-only offering (no real stocks/ETFs)
- No proprietary trading platform
Saxo Bank
- - No MetaTrader (MT4/MT5) support
- - Higher spreads/commissions for Classic-tier accounts
- - Best pricing/features require high balances (Platinum/VIP)
- - Not available to U.S. residents
- - Netting-only FX positions (no true hedging)
Key features
Pepperstone
- Agency model no dealing desk market execution
- Razor raw spreads and Standard pricing
- MT4 MT5 cTrader and TradingView platforms
- Advanced tools Autochartist Smart Trader Tools cTrader Automate and VPS
- Tier 1 regulation and segregated client funds ASIC FCA CySEC DFSA BaFin
- Wide range of CFDs forex indices commodities shares and crypto where permitted
Saxo Bank
- Multi asset trading across forex cfds futures options stocks and bonds
- Tier one regulation and banking license with segregated client funds and two factor authentication
- SaxoTraderGO and SaxoTraderPRO platforms with advanced charting and depth of book
- Forex spot forwards and vanilla options with multi source aggregated liquidity
- OpenAPI and FIX connectivity for algorithmic trading and platform integration
- Volume based pricing tiers classic platinum and vip with reduced costs for high volume
Country availability: Pepperstone vs Saxo Bank
Available at both (40): Australia, Austria, Croatia, Czechia, Denmark, Estonia, Faroe Islands, Finland, France, Germany, Greece, Greenland, Hong Kong, Hungary, Iceland, Ireland, Israel, Italy, Japan, Latvia, Lithuania, Luxembourg, Malaysia, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Qatar, Romania, Saudi Arabia, Singapore, Slovakia, Slovenia, Sweden, Switzerland, Thailand, United Arab Emirates, United Kingdom.
Only Pepperstone (189): Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola, Anguilla, Antigua and Barbuda, Argentina, Armenia, Aruba, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belize, Benin, Bermuda, Bhutan, Bolivia, Bonaire, Bosnia and Herzegovina, Botswana, Brazil and 164 more.
Only Saxo Bank (2): Belgium, Spain.
- Pepperstone accepted countries
- Saxo Bank accepted countries
- Best forex brokers in Australia
- Best forex brokers in Austria
- Best forex brokers in Croatia
- Best forex brokers in Czechia
- Best forex brokers in Denmark
- Best forex brokers in Estonia
Availability reflects the countries each broker declares it serves. Local rules change; confirm on the broker's own site before signing up.
Pepperstone vs Saxo Bank: common questions
Which broker is more regulated, Pepperstone or Saxo Bank?
Pepperstone holds more regulatory licences: Pepperstone (ASIC, BaFin, CMA, CySEC, DFSA, FCA, FSCA, SCB) versus Saxo Bank (ASIC, DFSA, FCA, FINMA, MAS, SFC). Tier-1 licences: Pepperstone 3, Saxo Bank 5.
Which trading platforms do Pepperstone and Saxo Bank offer?
Pepperstone offers cTrader, MT4, MT5, TradingView; Saxo Bank offers Proprietary, TradingView.
Which has lower fees, Pepperstone or Saxo Bank?
Both sit in the same fee bracket (low) in our catalogue; compare the spreads and commission rows above for detail.
Which is older, Pepperstone or Saxo Bank?
Saxo Bank is the older of the two, founded in 1992; Pepperstone was founded in 2010.
Are Pepperstone and Saxo Bank available in the same countries?
They overlap in 40 countries. Pepperstone is additionally available in 189 countries (Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola and 183 more) and Saxo Bank in 2 countries (Belgium, Spain).
Keep comparing
Pepperstone
- Pepperstone vs FOREX.com
- Pepperstone vs Interactive Brokers
- Pepperstone vs Plus500
- Pepperstone vs Swissquote
- Pepperstone vs tastyfx
- Is Pepperstone regulated?
- Pepperstone trading platforms
- Pepperstone accepted countries
Saxo Bank
Risk warning: CFDs and forex are complex, leveraged instruments and carry a high risk of losing money rapidly. A majority of retail investor accounts lose money when trading CFDs. Nothing on this page is financial advice; verify licence status on the regulator's register before depositing. Full risk disclosure.