Pepperstone vs FP Markets: fees, cashback and which to choose
Pepperstone is an award-winning forex and CFD broker; FP Markets is an Australian ECN broker with some of the tightest spreads. We compare them on fees, available cashback and which trader profile each suits — plus how to recover part of your fees on both.
Quick comparison
| Pepperstone | FP Markets | |
|---|---|---|
| Cashback | 26% | 26% |
| Applies to | of spreads and commissions | of spreads and commissions |
| Countries | 5+ | 5+ |
| Best for | traders who want a regulated broker with powerful platforms | forex and CFD traders who prioritize low cost and platform variety |
Fees
Pepperstone. Tight spreads on Razor accounts plus commission; strong on platforms (MT4/MT5, cTrader).
FP Markets. ECN spreads from 0.0 pips plus per-lot commission; MT4/MT5, cTrader and IRESS support.
Available cashback
Both offer the same cashback (26%), so they tie here and the decision comes down to fees and product.
Work out how much you'd recover for your volume with the cashback calculator.
Pros and cons
Pros
- Solid regulation and reputation
- cTrader and MT4/MT5 support
- Good customer service
- 26% cashback via Omanero
Cons
- Limited crypto-CFD catalog
- Not available in some regions
Pros
- Among the lowest ECN spreads
- Wide platform variety (cTrader, IRESS)
- Long track record and regulation
- 26% cashback via Omanero
Cons
- Inactivity fees
- Less educational material than XM
Best for each profile
Choose Pepperstone if you're traders who want a regulated broker with powerful platforms. Choose FP Markets if you're forex and CFD traders who prioritize low cost and platform variety.
Verdict
They tie on cashback (26%), so decide on fees, product and availability. And remember: you can use both and earn cashback on each.
Recover fees on Pepperstone and FP Markets with verifiable payments.