Pepperstone vs Tickmill Comparison – 2026

Both Pepperstone and Tickmill are well-known in the world of CFD trading. That being said, some will find better value at one over the other, depending on their circumstances. I spent time testing these brokers, tracking the strengths and weaknesses of both firms.

I used the Standard account with MetaTrader 5 at Pepperstone and the Classic account with MetaTrader 5 at Tickmill for comparison. I tested the speed of execution in both desktop and mobile versions of the platform, and then made a list and notes of what was strong and weak at both firms, with the goal of determining which traders would benefit from which broker.

Top Reasons to Choose Pepperstone or Tickmill

Pepperstone has a lot of benefits for various traders. It has been long known for low fees, and a large number of assets available for trading. The spreads at Pepperstone are, in general, lower than the industry average. This was true in markets as diverse as forex, metals, stocks, indices, and crypto. The spreads are the same in MetaTrader 4, MetaTrader 5, TradingView, cTrader, or the Pepperstone platform, a proprietary trading solution.

Tickmill is a mixed bag, offering higher leverage, with as much as 1:1000 available through its Seychelles entity. However, clients under its UK and European entities are capped at 1:30 on major pairs. The TradingView, MetaTrader 4, MetaTrader 5, and the custom Tickmill Trader platforms all offer the same kind of spreads for traders to operate with. This is a situation where leverage could be a factor for those looking for extremes.

Pepperstone: Snapshot

Pepperstone started out in Australia and has been in business since 2010. It is licensed by several Tier-1 regulators, including the FCA, CySEC, ASIC, and BaFin. One of the biggest advantages of using Pepperstone is the low trading costs. The spreads in major currency markets are as low as 1.0 pip in the Standard account, with commission-free trading. While the Standard account shows quite competitive spreads for the industry, the Razor account users can get raw spreads as low as 0.0 pips, with a $6-7 round-trip commission per lot. The exact rate depends on the platform you choose.

Pepperstone: Who is it for?

Pepperstone is a strong candidate for short-term traders. The execution speed is fast and the spreads are low, both of which are equally valuable for scalpers or other short-term traders. The catch here is that some markets aren’t as tight with their spreads, such as oil. Swing trading is also very well served here, as the swaps are average, allowing traders to take advantage of carry trade possibilities, without overpaying on either side of a trade.

What Makes Pepperstone Stand Out?

The biggest advantage that I see here is the spreads with both the Standard and the Razor accounts being better than most brokers we tested. For example, the AAPL spread was just 3 cents, with the TSLA spread being 6 cents. The industry average for TSLA is roughly 50 cents, so this is one of the highlights for Pepperstone. This can save a trader significantly over the course of their career, especially day traders.

Tickmill: Snapshot

Tickmill was founded in 2014, and is headquartered in Cyprus. It offers over 630 CFD markets, along with ETFs and options. While the spreads are somewhat varied, of particular note are crypto and stock markets, where the spreads are particularly good. Tickmill offers MetaTrader 4, MetaTrader 5, TradingView, and its own Tickmill Trader platform. The one caveat is that the TradingView and Tickmill Trader platforms are not available for the Classic account. Execution is fast and there are plenty of other benefits, such as trading tools.

Tickmill: Who is it for?

Tickmill is suited for a wide range of traders, including those looking to find more education. The educational offerings are excellent with educational videos, webinars and even a podcast. The broker also offers plenty of MetaTrader 4 and 5 add-ons. VPS hosting is available for those looking to automate their trading strategies as well. The market research is also of particular note, it’s more diverse than many brokers offer across the industry. They also offer FIX API connection but only to high-volume traders.

What Makes Tickmill Stand Out?

While the execution of trades at Tickmill is strong, and the choice of global markets is solid, the real standout point of trading at Tickmill is the high-quality education and research available. The broker also has plenty of add-ons for the MetaTrader ecosystem, and a VPS hosting. A longer-term swing trader can take advantage of the swaps here, and automate their strategy in the process. The research will help them stay on top of the market’s behavior. That being said, the automated trader will feel at home here with speed and the ability to set up a “hands-free” account via EAs.

Trust

Pepperstone vs Tickmill Trust and Regulation Comparison

Pepperstone is regulated by several authorities, including CySEC, FCA, ASIC, BaFin, DFSA, CMA, and the SCB. This means heavy regulation from some of the premier governing bodies globally. The legal documents clearly lay out the protection for client funds, as they are segregated, and protected from negative balances. Pepperstone also has over 900 associates on LinkedIn, so it’s not a small operation.

Tickmill is also heavily regulated by several major agencies. This includes the FCA, CySEC, FSCA, and the FSA. According to the legal documents, Tickmill also segregates client funds, as well as provides negative balance protection. Tickmill has over 200 employees listed on LinkedIn, and shows that there is stability within the organization. So both brokers seem to have excellent protection for traders.

If you want to learn more about how forex brokers are regulated, we have a dedicated article on it here.

Fees

Pepperstone vs Tickmill Spreads, Fees and Commissions Comparison

In the Pepperstone Standard account, the spread in the EUR/USD pair averages 1.0 pip during the London and New York sessions, which is just under the industry average of 1.2 pips. Most stocks at Pepperstone have a spread between 3 and 6 cents, which is strong. The average spread of the GBP/JPY pair is also tight, 2.0 pips. The Razor account is even more competitive, with spreads as low as 0.0 pips, and a $6 round-trip commission for each lot traded on cTrader. MetaTrader 4, MetaTrader 5, WebTrader, and TradingView all have slightly higher commission rates.

Tickmill’s Classic account offers an average spread of 1.6 pips in the EUR/USD pair in both London and New York sessions. The GBP/JPY pair averages 2.6 pips in that same time. Both are slightly above the industry typical figures. Most indices average a spread of 2.0 pips, and gold shows a 22-cent spread. Crude oil seems like the most attractive option given that it fluctuated in the $0.02-$0.03 range, just below the industry average. The Raw account tightens spreads further. The EUR/USD pair varies between 0.1 and 0.11 pips, with a round-turn commission of $6.

Putting the two brokers’ fees against each other reveals that Pepperstone offers more competitive conditions for trading currency pairs and metals, whereas Tickmill is the far more attractive option for trading energies. Its $12 BTCUSD cost of trade also came in slightly better than Pepperstone’s $15. Stocks and indices were more or less equalized.

New to how spreads and commissions work? Our guide Forex Pricing Explained: How Brokers Set Prices has you covered.

Platforms and Tools

Pepperstone vs Tickmill Trading Platforms Comparison

Pepperstone has a significant list of trading platforms, including the proprietary WebTrader platform, MetaTrader 4, MetaTrader 5, cTrader, and TradingView. The proprietary platform is a solid choice, having both advanced charting capabilities, and a long list of technical indicators to help analyze the markets. cTrader, MetaTrader 4, and MetaTrader 5 all allow algorithmic trading easily. Using the MetaTrader platforms, this is done using Expert Advisors, and can even be automated via Virtual Private Servers (VPS) for low-latency action.

With Tickmill, you will be able to use TradingView, MetaTrader 4, MetaTrader 5, and the proprietary Tickmill Trader. Tickmill offers a FIX API protocol for Direct Market Access (DMA) and automated trading. The analysis from Acuity and the great market research is also a major bonus for those looking for a research-focused broker.

Tradable Instruments

Pepperstone vs Tickmill Instruments Selection Comparison

Pepperstone offers a wide selection of instruments for trading. There are more than 1,380 to choose from, across currency pairs, commodities, stocks, indices, ETFs, and cryptos. The largest part of the list is shares, including over 1,100 stocks from the UK, US, Hong Kong, Australia, and the European Union. There are over 90 forex pairs, and 51 crypto assets. Pepperstone offers 116 stocks that trade 24 hours a day as well, allowing traders to react to news even when the underlying market is closed.

Tickmill lists over 630 CFDs for trading, with the bulk of them being shares. While Tickmill offers just under 500 shares, the range also includes 19 indices, 25 ETFs, 15 cryptocurrencies, 19 commodities, and 62 forex pairs. I also found that the broker offers futures and options through its entity based in the UK.

Customer Support

Pepperstone vs Tickmill Customer Support Comparison

Pepperstone has support available 24/7 via live chat, email, and phone. The customer support is available in 9 languages, including English, Arabic, Chinese, and Spanish. The first layer of support is via the AI chatbot, but I also went beyond that in my testing, talking to actual agents. I asked a standard set of questions such as points involving account funding, minimum deposits, trading tools and more. The agents all seemed very knowledgeable at Pepperstone, and I had no issues getting answers.

Tickmill has 24/5 support via the same channels: live chat, email and phone. The broker has an AI chatbot, as well. Agents typically replied within a few minutes and handled my questions with no trouble. The phone support is available during business hours at a couple of offices, namely the South Africa and the Seychelles offices, running on GMT time.

You can check our customer support test in more detail here.

Research

Pepperstone vs Tickmill Research Tools Comparison

Pepperstone offers strong market research developed in-house, with professional analysts. The live podcast and webinars are also available, helping traders track trends in the markets, and break down important concepts or market setups. The content is useful for traders of all levels and timeframes, and the “Navigating Markets” analysis hub was a favorite of mine. This area focuses on global macro themes, market commentary, and major events that can move markets. Even though there is no third-party content, the scope and breadth of topics and information were impressive.

Tickmill offers both the in-house market research and third-party trading signals by Acuity. So there’s something for any trader’s needs: the Economic Calendar, articles on fundamental analysis and breakdowns of emerging market opportunities and trading setups. There’s also a lot of video content on their YouTube channel.

Deposits & Withdrawals

Pepperstone vs Tickmill Deposit and Withdrawal Methods Comparison

Pepperstone allows clients to deposit and withdraw funds via bank wire, credit and debit cards, several e-wallets, and crypto. This gives traders plenty of options to choose from, with all transactions being within the standard times expected in this industry. Pepperstone charges no fees for transactions, but be aware that some transactions may have external fees, such as with a bank wire.

Tickmill offers the same choice of methods. There are no fees for moving money in and out, and there is even a “zero fee policy” on deposits of $5,000 or more. This means that the broker would reimburse any third-party fees for high-volume deposits. There are also several base currencies supported for funding. Payments are mostly processed within 24 hours.

Account Types and Terms

Pepperstone vs Tickmill Account Types Comparison

Pepperstone has no minimum deposit requirement for traders to get started. This is true for both account types, the Standard and the Razor. The Standard account offers commission-free trading and floating spreads that start at 1.0 pip. The Razor account offers raw spreads that start at 0.0 pips, with a commission of $6 or $7 round-trip per lot, depending on the platform used. Swap-free accounts are also available, though not in all regions. And you can choose from 10 base currencies, including USD, JPY, EUR, and others.

Tickmill offers a Classic account that has commission-free trading with floating spreads. The Raw account offers spreads from as little as 0.0 pips, with a commission of $6 per lot round-turn. There is also the TradingView raw account, which is identical to the Raw account, but with the TradingView platform included and a slightly higher commission of $7. The minimum deposit for all three account types is the equivalent of $100.

Education

Pepperstone vs Tickmill Educational Content Comparison

Pepperstone offers plenty of articles and videos for beginners, as well as those with more experience trading. The content is helpful in my opinion, as well as practical. Most of the educational department focuses on technical analysis, such as candlestick patterns, for example. There is some content about risk management, the “Education for Traders” YouTube series and the podcast “Deciphering the Market Rhythm.”

Tickmill has a strong offering of educational material as well, with the “Expert Blog” being a quick daily focus on markets, and the factors behind the moves that we are seeing. The latest news section keeps you up to date with events, and there are sections devoted to each asset class. There are also webinars, video tutorials, and seminars available for clients to learn from. The broker produces its own podcast, too, which is called “Bright Minds”. Of particular interest for me were the seminars that they have hosted, which include topics as diverse as “Women In Finance” and “Bots.” The video tutorials are broken down by asset class and offer in-depth insights.

Our Methodology

Since 2011, FX Empire has developed a detailed methodology for evaluating CFD brokers, involving over 250 variables across nine crucial categories. Our team of experts, with deep industry knowledge, conducts live testing and research by interacting with the brokers directly. We check regulations, open accounts, test spreads, account costs, platform functionality, instrument variety, customer support reliability, and the quality of research and educational content. This granular analysis helps us identify each broker’s strengths and weaknesses, keeping our comparisons current with market trends and ensuring our guides meet traders’ needs.

We strive to evaluate each broker objectively, considering how their offerings align with the diverse trading goals and preferences of our readers. Our focus is on providing a balanced overview of each broker’s strengths and weaknesses. This method ensures that our readers receive clear, insightful comparisons to aid in making well-informed trading decisions.

We employ a comprehensive rating system across nine key categories:

• Trust
• Fees
• Platforms and Tools
• Tradable Instruments
• Customer Support
• Research
• Deposits and Withdrawals
• Account Types and Terms
• Education

In each category, we conduct an in-depth analysis for both brokers, outlining features, advantages, and disadvantages and determining their suitability for different trader profiles. By blending insights from our extensive reviews with first-hand experiences and observations, we ensure each comparison is balanced, informative, and tailored to the trader’s unique needs. You can read more about our review process here.

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