Axi vs Pepperstone - 2024 Comparison | FX Scouts Kenya
AuthorAuthor: Björn MichelsUpdated: Oct 12, 2023

Last Updated On Oct 12, 2023

Björn Michels

Trading with a reputable online broker is a crucial factor for success in the international markets. At FX Scouts Kenya, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

Select brokers to compare

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Broker Score
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.44/ 5 USD 0FCA Regulated BrokersCySEC Regulated BrokersASIC Regulated Forex BrokersFinancial Markets Authority of New ZealandDubai Financial Services AuthorityFinancial Services Authority – St. Vincent & the GrenadinesECN/DMACommodities, Cryptocurrencies, Stock CFDs, Forex, Indices, Metals, WTIs7011
  • Low minimum deposit
  • Tight spreads
  • Innovative trading tools
  • MT4 only
  • Limited range of assets
Read Review 111115/ 5 11110.54.5/ 5 111104/ 5 11110.54.5/ 5 11110.54.5/ 5 11110.54.5/ 5 111104/ 5 75.6%500:10 pips MT4 Pro Account, MT4 Standard Account MT4Visa, Mastercard, Bank Transfer, Bitcoin, Neteller, Skrill, Sofort Banking, Giropay7 USD / lot - PRO account
11110.54.61/ 5 USD 0Capital Markets AuthorityFCA Regulated BrokersASIC Regulated Forex BrokersCySEC Regulated BrokersNDDCommodities, Cryptocurrencies, Stock CFDs, ETFs, Forex, Indices, Metals10019
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
  • Limited market analysis
Read Review 111115/ 5 11110.54.5/ 5 111115/ 5 111104/ 5 11110.54.5/ 5 11110.54.5/ 5 11110.54.5/ 5 0400:10 pips cTrader Razor, MT5 Razor, MT4 Razor, Standard, Swap-free MT4, MT5, cTrader, TradingViewBank Transfer, Visa, Mastercard, POLi, BPay, Paypal, Neteller, Skrill, UnionpayFrom 7 USD / lot - Razor Account

How do Pepperstone and Axi stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

Axi

Pepperstone

At FX Scouts Kenya, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare Pepperstone and Axi, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does Pepperstone or Axi have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that Pepperstone holds three Tier 1 and two Tier 2 licences, and Axi holds three Tier 1 and no Tier 2 licences.

 

Is Axi financially regulated?

Yes Axi was founded in 2007 and is regulated by ASIC, CySEC, DFSA, FCA, FMA and FSA-St-Vincent.

 

Is Pepperstone financially regulated?

Yes Pepperstone was founded in 2010 and is regulated by ASIC, CMA, CySEC and FCA.

 

Based on these findings, 0 earned a higher trust rating than 0.

Does Pepperstone or Axi have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that Axi and Pepperstone have the same trading costs. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
Axi
11110.54.5/ 5
AED, CAD, EUR, GBP, JPY, NZD, PLN, SGD, USD
1.00 pips
USD 10
0.00 pips
0.10 pips
0.10 pips
USD 0
Pepperstone
11110.54.5/ 5
AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD
1.00 pips
USD 10
0.17 pips
0.59 pips
0.26 pips
USD 0

 

Does Pepperstone or Axi offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, Pepperstone offers support for and Axi offers support for . 

Do the brokers offer copy trading?

Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both Axi and Pepperstone offer copy trading.

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Broker
Platform Choice
Copy Trading
Platforms
Axi
111104/ 5
Pepperstone
111115/ 5
TradingView

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that Pepperstone offers a greater range and depth of instruments to trade than Axi. Pepperstone offers 100 Forex pairs to trade and Axi offers 70 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, Pepperstone offers 19 cryptocurrencies while Axi offers 11 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with Pepperstone.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that Axi charges a withdrawal fee and Pepperstone does not. Overall, Axi has better deposit and withdrawal processes than Pepperstone. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

Axi and Pepperstone both have moderate educational support. Both Axi and Pepperstone offer educational support for more experienced traders.

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
Axi
Medium
Pepperstone
Medium

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that 0 offers better research analysis than 0 and that both Axi and Pepperstone offer frequent webinars.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
Axi
Pepperstone

 

Our overall Verdict on Pepperstone

One of our highest-rated brokers for Kenyan traders, Pepperstone was founded in Australia in 2010 and is globally renowned for its low trading costs and choice of trading platforms. Pepperstone keeps costs low with some of the tightest spreads we've seen, starting from 1.00 pips (EUR/USD) on its Standard Account. For those who prefer classic ECN trading, the Razor Account has low commissions and spreads averaging at just 0.10 pips on the EUR/USD. Neither account has a required minimum deposit.

Despite the low costs, we are disappointed with Pepperstone's complicated commission structure. But more experienced traders will appreciate Pepperstone’s trading platform options, including MT4, MT5, and cTrader, which integrates seamlessly with the TradingView tool. All are available on desktop and mobile devices. Pepperstone’s education section is not the most extensive we’ve seen, but it is competent and well-structured, making it a good place to start for beginner traders. 

Our overall Verdict on Axi

Built by traders, for traders, Axi is an ASIC and FCA regulated ECN broker for the serious trader, where traders execute their positions directly on the markets without any broker interference.

While the trading platform choice is limited to MT4, Axi has received strong industry recognition for their setup including Best MT4 Broker 2018 (Compare Forex Brokers Australia) and Best MT4 Provider 2018 (UK Forex Awards).

Joining Axi requires a $5 minimum deposit which gives you a strong MT4 setup and an ECN account.  This combination only highlights further that they are built by traders, for traders.

Which broker has the highest overall rating?

Pepperstone has an overall rating of 4.61 and Axi has an overall rating of 4.44. For more detail please read our reviews of Pepperstone and Axi.

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