FXREVIEW — PEPPERSTONE V/S XM?
Coming in with another comparison between these two great forex broker with great assets — Pepperstone and XM.
Talking about regulations, Pepperstone is regulated and backed by FCA, ASIC, DFSA while XM is regulated with IFSC, CySEC. So, you will notice that they are both backed by strong, good regulatory bodies, so that is off to a good start.
Now, you will get to know about their trading conditions, so let’s not wait further.
- SPREADS
Taken from the myfxbook spreads section, as you can see that XM is doing quite better than Pepperstone when it comes to talking about tight spreads.
2. COMMISSIONS
Pepperstone — $7/100k RT
XM — $10/100k RT
Pepperstone is doing whole lot cheaper, when compared to XM in term of commission. Let’s add both commissions and spreads to the forex pairs.
Pepperstone is taking a bit of battle, thanks to their cheaper commission. Still, XM is taking the leads.
3. PAYMENT METHODS
Both the brokers accept multiple deposit and withdrawal methods with multiple credit cards, multiple electronic payment methods, bank wire transfer, local bank transfer, and other payment methods. There are no extra fees charged for withdrawal of funds with both too.
4. MINIMUM DEPOSIT
I think this is quite useful for some traders, especially who wanted to try out depositing small funds to try trading, rather the whole amount all the way in.
Pepperstone — 200 USD
XM — 100 USD
5. SERVICES
The customer support seems to be responsive, in term of mail, phone call and live chat. Although, I did face a bit of queue when trying out live chat. Regardless, they offer good response to my queries.
One thing to note regarding about their inactivity fees is that:
Pepperstone — No fees
XM — 5 USD per month, from 90 days of inactivity of an account
On the bigger pictures, both the forex brokers, Pepperstone and XM, have both pros and cons.
Hope this helps in deciding the right forex broker!
