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Switch Markets vs Pepperstone

Switch Markets or Pepperstone – which is better for UK traders 2025? Compare Switch Markets and Pepperstone in this detailed breakdown of their platforms, features and fees.

Switch Markets vs Pepperstone Comparison Table 2025
Switch Markets	Pepperstone

3.8	4.8
Switch Markets is ranked #51 among CFD brokers.	Pepperstone is ranked #1 among CFD brokers.
Review	Review
Switch Markets is a multi-asset CFD brokerage regulated by ASIC and SVGFSA. The brand provides trading services on MT4 and MT5 platforms with leverage up to 1:500. It offers more than 2000 instruments and includes features like copy trading services and free VPS hosting.	Founded in Australia in 2010, Pepperstone is a highly regarded broker specialising in forex and CFDs. Serving more than 400,000 clients globally, it provides access to over 1,300 financial instruments through popular platforms like MT4, MT5, cTrader, and TradingView. Its fee structure is both low and transparent. With regulation by reputable bodies such as the FCA, ASIC, and CySEC, Pepperstone guarantees a safe trading environment for traders at every level.
	CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.1% of retail investor accounts lose money when trading CFDs.
Pros
Switch Markets provides a good selection of trading tools, such as a market sentiment heatmap, an economic calendar, and VPS access. I value the variety of forex calculators available. I discovered 14 easy deposit methods and 5 base currencies. With average processing times of just 1 minute and 2 seconds, traders will find this particularly appealing. I am impressed by the free access to HowToTrade's educational resources, community forum, and market analysis, all without requiring a deposit. Traders can utilise the MetaTrader Trading Signals to mirror the actions of seasoned traders instantly. The £50 minimum initial deposit for both account types is quite competitive relative to other brands.	Pepperstone offers rapid execution speeds of approximately 30ms, enabling swift order processing and execution, making it ideal for traders. Support for top-tier charting platforms such as MT4, MT5, TradingView, and cTrader. These tools accommodate different short-term trading methods, including algorithmic trading. In recent years, Pepperstone has significantly enhanced the deposit and withdrawal process. By 2025, clients can use Apple Pay and Google Pay, while 2024 saw the introduction of PIX and SPEI for customers in Brazil and Mexico. Pepperstone presents itself as an economical choice for traders, offering spreads as low as 0.0 in its Razor account. The Active Trader programme provides rebates up to 30% on indices and commodities, plus $3 per lot on forex. Over the years, Pepperstone has consistently garnered recognition from DayTrading.com’s annual awards. Recently, it was honoured as the 'Best Overall Broker' in 2025 and was the 'Best Forex Broker' runner-up the same year. The award-winning customer support can be accessed through phone, email, or live chat. During tests, response times have consistently been under 5 minutes. Pepperstone now offers spread betting via TradingView, delivering a streamlined and tax-efficient trading experience with sophisticated analytical tools.
Cons
I am somewhat worried that the international firm is governed by the SVGFSA, an offshore regulator known for offering minimal financial security to clients. In my view, Standard account holders face relatively high spreads, averaging 1.5 pips for EUR/USD, which are not particularly competitive.	Pepperstone's demo accounts expire after 30 days, which may not provide sufficient time to explore various platforms and evaluate trading strategies. Pepperstone doesn't offer cTrader Copy, a favoured feature for copying trades found in the cTrader platform, which is available on other platforms such as IC Markets. However, Pepperstone has launched its own user-friendly copy trading app. Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers who focus on this area, with no option to invest in real coins.
Awards
	Best Overall Broker - DayTrading.com 2025 Best Forex Broker Runner Up - DayTrading.com 2025 Best Trading App Runner Up - DayTrading.com 2025 Best MT4/MT5 Broker Runner Up - DayTrading.com 2025 Best TradingView Broker Runner Up - DayTrading.com 2025 Best Forex Broker - DayTrading.com 2024 Best Overall Broker - DayTrading.com 2023 Best Trading App - DayTrading.com 2022 Best Forex Broker - DayTrading.com 2021
FCA Regulated
No List of FCA Regulated Brokers	Yes
Instruments
CFDs, Forex, Stocks, ETFs, Cryptos, Futures, Commodities	CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto (only Pro clients), Spread Betting
Demo Account
Yes	Yes
Minimum Deposit
$50	$0
Payment Methods
Debit Card FasaPay GlobePay Mastercard Neteller Perfect Money Skrill Wire Transfer	Apple Pay Credit Cards Debit Card Google Pay Mastercard Neteller PayPal Skrill Visa Wire Transfer
Minimum Trade
0.01 Lots	0.01 Lots
Regulator
ASIC	FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
Mobile Apps
iOS & Android	iOS & Android
Trading App
	Pepperstone shines with top-tier integration with MT4, MT5, cTrader, and TradingView, ideal for traders using these major platforms. They offer stable mobile trading, boosted by Pepperstone's rapid execution speeds and extensive asset variety. It recently achieved second place in DayTrading.com's 2025 'Best Trading App' award.
iOS App Rating
4.8	4.4
Android App Rating
4.6	4.1
Margin Trading
Yes	Yes
MetaTrader 4
Yes	Yes
MetaTrader 5
No	Yes
cTrader
No	Yes
AlgoTrader
No	No
OmniTrader
No	No
TradingView
No	Yes
Autochartist
No	Yes
eSignal
No	No
Trading Central
No	No
STP Account
No	Yes
ECN Account
No	Yes
DMA Account
No	Yes
MAM Account
Yes	Yes
PAMM Account
Yes	No
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
No	Yes
Robo Advisor
No	No
Negative Balance Protection
Yes	Yes
Market Maker
Yes	No
P2P Trading
No	No
Spot Trading
Yes	Yes
Auto Trading
Yes - Equinix	Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes	Yes
Copy Trading Platform
Switch Markets provides low-cost trading services through the MetaTrader 4 platform, allowing traders to copy strategies efficiently.	Pepperstone offers the replication of skilled traders' strategies via MetaTrader Signals, DupliTrade, and its new proprietary copy trading app, in collaboration with Pelican Trading. This service, available in select regions, grants access to numerous experienced traders and customized risk settings. However, it does not support cTrader Copy, which might discourage traders who prefer Spotware's platform.
Social Trading
Yes	No
Trade Signals
MT4	Yes (Via Chartist Software)
VPS Hosting
Yes	Yes
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Inactivity Fee
	$0
Islamic Account
Yes	Yes
Account Currencies
USD EUR GBP CAD AUD NZD CHF SGD	USD EUR GBP CAD AUD NZD JPY CHF HKD SGD
Commodities
Gold Silver Oil Natural Gas	Gold Silver Oil Corn Palladium Precious Metals Platinum Copper Gasoline Cocoa Coffee Cotton Livestock Sugar Wheat Natural Gas Soybeans Orange Juice Aluminium Nickel Zinc
CFD
Switch Markets provides over 180 CFD instruments, offering leverage up to 1:500 and swift order execution in under 76 milliseconds. Commissions are competitive, at $7 per round turn for Pro account holders.	In our recent assessment, Pepperstone remains a top-tier CFD broker, renowned for its speed and reliability. With execution times averaging 30ms and a remarkable 99.90% fill rate, traders benefit from a smooth experience free from requotes and dealing desk disruptions. Additionally, it offers extensive opportunities with access to more than 1,300 assets.
Leverage
1:500	1:30 (Retail), 1:500 (Pro)
FTSE Spread
1.2	1.0
GBPUSD Spread<
0.5	0.4
Oil Spread
2.0	2.5
Stocks Spread
Variable	0.02
Forex
The offering of over 60 major, minor, and exotic currency pairs is competitive, particularly with Pro account spreads starting at 0 pips. Seasoned traders can utilise leverage up to 1:500 on the widely-used MT4 platform.	Pepperstone provides forex spreads on the EUR/USD averaging just 0.12 pips with their Razor account. This is highly competitive. Their extensive portfolio includes over 100 currency pairs, which exceeds what most rivals offer. Furthermore, Pepperstone stands out by offering three unique currency indices: USDX, EURX, and JPYX, which are rare on other platforms. They have been recognised with our 'Best Forex Broker' award twice.
Assets
60+	100+
GBPUSD Spread
0.5	0.4
EURUSD Spread
0.1	0.1
EURGBP Spread
0.6	0.4
Currency Indices
	USD EUR JPY
Cryptocurrency
Switch Markets offers just six crypto CFDs, but the available leverage of 1:3 is appealing. Additionally, deposit options include BTC, ETH, XRP, USDT, and USDTRC20, which is advantageous for traders.	Pepperstone remains a highly reputable crypto broker. Despite an average range of digital currencies, traders can access popular options like Bitcoin and altcoins such as Ripple with leverage up to 1:10. Its crypto indices offer comprehensive insights into digital currency markets, a feature unmatched by many other platforms.
Spread
Variable	BTC 30, ETH 0
Coins
BTC ETH LTC XRP	BCH BTC ETH LTC DASH ADA LINK DOGE EOS DOT XRP XLM XTZ UNI BNB
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

Switch Markets	Pepperstone
Review	Review
	CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.1% of retail investor accounts lose money when trading CFDs.
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