Head to head
Axi vs Pepperstone
Axi is licensed by ASIC in Australia; FCA in the United Kingdom; CySEC in the European Union and DFSA in Dubai (DIFC), UAE. Pepperstone is licensed by ASIC in Australia; FCA in the United Kingdom; CySEC in the European Union; BaFin in Germany; DFSA in Dubai (DIFC), UAE and SCB in The Bahamas. The licence that applies to you depends on where you live, so check which company you would contract with before comparing anything else.
Minimum deposits start at $0 at Axi and $0 at Pepperstone. Only Pepperstone offers negative balance protection. Both offer segregated client money.
Facts last checked: Axi on 20 October 2026, Pepperstone on 20 October 2026.
Monthly cost uses the account chosen in each slot: cost per lot × your lots. Swap and other fees are extra. The lowest monthly cost is highlighted only as a fact about cost, not as a recommendation.
Broker
Comparing
AxiAustralia
PepperstoneAustralia
Overview
Founded
2007
Not yet checked
Headquarters
Sydney, Australia
Melbourne, Australia
Official websites
- axi.com
- axi-solaris.com
- pepperstone.com
Facts last checked
20 October 2026
20 October 2026
Regulation and protection
Company you would contract with
AxiCorp Financial Services Pty Ltd
Pepperstone Group Limited
Regulation level
Strictly regulated
Strictly regulated
Clients this company serves
Australian residents
Australian residents
All licences held
- ASIC (Australia)
- FCA (United Kingdom)
- CySEC (European Union)
- DFSA (Dubai (DIFC), UAE)
- ASIC (Australia)
- FCA (United Kingdom)
- CySEC (European Union)
- BaFin (Germany)
- DFSA (Dubai (DIFC), UAE)
- SCB (The Bahamas)
FSCS up to £85,000 (UK); ICF up to €20,000 (Cyprus); none for the St Vincent company
FSCS up to £85,000 (UK); ICF up to €20,000 (Pepperstone EU); none for the Bahamas company
Costs
Your monthly cost
No accounts listed
No accounts listed
Typical GBP/USD spread
Not yet checked
Not yet checked
Typical USD/JPY spread
Not yet checked
Not yet checked
Typical XAU/USD spread
Not yet checked
Not yet checked
Leverage and margin
1:30 on major pairs (UK, EU, Australia); up to 1:1000 at the St Vincent company
1:30 on major pairs (UK, EU, Australia)
Retail leverage by asset class
- Major currency pairs (UK: 1:30
- Currency pairs (St Vincent company): up to 1:1000
- Major currency pairs: 1:30
- Other currency pairs: 1:20
- Other commodities and non-major indices: 1:10
- Share CFDs: 1:5
Stop-out level
20% (liquidation level, St Vincent company)
50% (MT4 and MT5)
Account
Minimum deposit (this account)
No accounts listed
No accounts listed
Platforms and features
Platforms
- Axi Trading Platform
- MetaTrader 4
- MetaTrader 5
- MetaTrader 4
- MetaTrader 5
- cTrader
- TradingView
- Pepperstone platform
- Mobile app
Markets
Forex, metals, commodities, indices, share CFDs, crypto CFDs and perpetual futures CFDs
90+ forex pairs, indices, commodities, share CFDs, ETFs, currency indices and crypto CFDs (not for UK retail)
Copy trading
Not yet checked
Yes
Expert advisors (automated trading)
Yes
Yes
News trading allowed
Not yet checked
Not yet checked
Guaranteed stops
Not yet checked
Not yet checked
Deposits and withdrawals
Deposit methods
- Bank transfer
- Debit or credit card
- Debit card
- Credit card
- Apple Pay
- Google Pay
- Bank transfer
Withdrawal fee
Free above US$50 or for the full balance; otherwise an administration fee of US$25 may apply (St Vincent company)
Free by card, Apple Pay, Google Pay and bank transfer (UK)
Inactivity fee
10 a month in USD, EUR, GBP and most other account currencies after 12 months without trading (St Vincent company)
Not yet checked
Support
Customer support
Not yet checked
24 hours Monday to Friday and 18 hours at weekends
Our notes
Strengths
- Licensed by ASIC, the FCA and CySEC, all strict regulators
- Published commissions per currency on the Premium account (for example $4.50 or €4.00 per standard contract)
- Bank transfers and payments under US$50,000 a month are free to deposit
- Licensed by four strict regulators (ASIC, FCA, CySEC, BaFin), with retail money held in segregated accounts
- Negative balance protection for retail clients
- Razor account commission is published per currency (for example £2.25 per lot per side on GBP accounts)
- No minimum deposit for bank transfers in the UK, and free withdrawals
Watch out for
- International clients join AxiTrader LLC, a St Vincent and the Grenadines company (4303 LLC 2025) that is registered, not licensed; its risk warning says you can lose substantially more than your initial investment.
- Axi publishes minimum spreads only, not typical spreads
- The St Vincent company charges a monthly inactivity fee after 12 months and may charge US$25 for withdrawals under US$50
- The FSCA's OTC derivative provider list shows AxiCorp Financial Services Pty Ltd's application as Withdrawn, so Axi has no South African licence we could confirm.
- Says Pepperstone Markets Kenya Limited holds CMA licence 128; we could not confirm it on the Capital Markets Authority register on 2026-10-20 because the CMA website was unavailable.
- Says Pepperstone Financial Services LLC holds UAE CMA licence 20200000358 for introduction and financial consultation; we could not confirm it on the regulator's register on 2026-10-20.
- Clients outside the UK, EU and Australia may be placed with the Bahamas company, which has no compensation scheme
- Pepperstone publishes minimum spreads, not typical spreads; Pro clients lose negative balance protection
Choose at least one broker above to start comparing.
Risk warnings
The buttons to a broker’s website above the table are partner links: we may earn a commission if you open an account through them. That never changes the facts shown here. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Each broker’s own warning:
- Axi: Over-the-counter derivatives are complex instruments and come with a high risk of losing substantially more than your initial investment rapidly due to leverage. You should consider whether you understand how over-the-counter derivatives work and whether you can afford to take the high level of risk to your capital.
- Pepperstone: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
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Cost per lot is the typical EUR/USD spread in busy hours × $10, plus any round-turn commission, for one standard lot. “Not yet checked” means we have not confirmed that fact yet. This page compares facts; it does not rank the brokers or recommend either. Confirm costs and licences on each broker’s site and the regulator’s public register before opening an account: see how we review brokers and check a broker yourself.
Nothing on this page is financial advice. Read the full disclaimer.