Tickmill vs Pepperstone 2026: Costs, Regulation and Platforms
Updated
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Tickmill and Pepperstone both have FCA and CySEC entities, and both state negative balance protection for retail clients of their offshore entities. Tickmill charges a lower commission on its Raw account ($6 round turn versus $7 on Pepperstone's MetaTrader Razor account) and has no withdrawal fees; Pepperstone offers more platforms, including cTrader, and no minimum deposit.
Tickmill vs Pepperstone: scores by criterion
| Criterion | Tickmill | Pepperstone |
|---|---|---|
| Regulation and client protection (30%) | 5 / 5 | 5 / 5 |
| Trading costs (20%) | 5 / 5 ✓ | 4 / 5 |
| Deposits and withdrawals (15%) | 4 / 5 ✓ | 3 / 5 |
| Execution and platforms (15%) | 5 / 5 | 5 / 5 |
| Accounts and products (10%) | 4 / 5 | 5 / 5 ✓ |
| Transparency and support (10%) | 4 / 5 | 4 / 5 |
Scores follow our review methodology; each comes from the full Tickmill review and Pepperstone review.
Key differences
| Tickmill | Pepperstone | |
|---|---|---|
| Regulators | FCA (United Kingdom), CySEC (Cyprus), FSCA (South Africa), FSA (Seychelles) | SCB (Bahamas), FCA (United Kingdom), CySEC (Cyprus), DFSA (Dubai, UAE), ASIC (Australia) |
| Entity for most global clients | Tickmill Ltd, FSA (Seychelles) | Pepperstone Markets Limited, SCB (Bahamas) |
| Negative balance protection (global entity) | Yes | Yes |
| Max leverage on majors | 1000:1 (by entity) | 200:1 (by entity) |
| Minimum deposit | $100 | $0 |
| Account types | Classic, Raw, TradingView Raw | Razor, Standard |
| Raw spread + commission account | Yes | Yes |
| Platforms | MetaTrader 4, MetaTrader 5, TradingView, Tickmill Trader | MetaTrader 4, MetaTrader 5, cTrader, TradingView, Pepperstone platform |
| Not available in | Cuba, Iran, Japan, North Korea, Singapore, Syria, United States | United States |
Is Tickmill or Pepperstone safer?
Both groups serve UK clients under the FCA and EU clients under CySEC, and Pepperstone also has DFSA, ASIC and BaFin entities. Clients outside those regions are served offshore: Tickmill through Tickmill Ltd in Seychelles, Pepperstone through Pepperstone Markets Limited in the Bahamas. Both state that retail clients of those entities have negative balance protection and segregated client funds. Pepperstone’s offshore retail leverage (1:200) is lower than Tickmill’s (up to 1000:1): forex regulation.
Tickmill vs Pepperstone: which costs less?
On MetaTrader, Tickmill’s Raw account costs $6 per round turn in commission and Pepperstone’s Razor account $7, both with spreads advertised from 0.0 pips; on cTrader, Pepperstone’s commission is $6. For a standard lot of EUR/USD at advertised minimum spreads, that is $6 (Tickmill) against $6 to $7 (Pepperstone). Tickmill charges no withdrawal fees; Pepperstone charges $20 on international bank transfer withdrawals.
Tickmill vs Pepperstone: which suits which trader?
- cTrader users: Pepperstone.
- No minimum deposit: Pepperstone ($0); Tickmill from $100.
- Lowest MetaTrader commission: Tickmill.
- Withdrawals by international bank transfer: Tickmill, without a broker fee.
Comparisons and rankings
Frequently asked questions
Is Tickmill better than Pepperstone?
In our reviews Tickmill scores 4.7 and Pepperstone 4.4 out of 5. Tickmill scores higher on costs and withdrawals; Pepperstone offers more platforms and has no minimum deposit.
Which is cheaper, Tickmill or Pepperstone?
On MetaTrader, Tickmill's Raw account commission is $6 per round turn and Pepperstone's Razor account $7; on cTrader, Pepperstone charges $6. Both advertise raw spreads from 0.0 pips.
Which has higher leverage, Tickmill or Pepperstone?
For global retail clients, Tickmill advertises up to 1000:1 and Pepperstone up to 1:200 on forex; both are capped at 30:1 on majors for UK and EU retail clients.