Pepperstone vs Saxo Bank
Head-to-head comparison of fees, platforms, regulation, and trading conditions to help you choose the right EU broker in 2026.
Quick Verdict
Pepperstone scores higher overall at 9.3/10 vs 9.0/10.
Score Comparison
Trading Conditions
| Condition | Pepperstone | Saxo Bank |
|---|---|---|
| Min Deposit | None | None |
| EUR/USD Spread | 0.0 pips (Razor), 0.69 pips (Standard) | 0.6 pips (Platinum), 0.8 pips (Classic) |
| Commission | $3.50 per lot per side (Razor), None (Standard) | Varies by account tier |
| Leverage (Retail) | 30:1 | 30:1 |
| Leverage (Pro) | 500:1 | 200:1 |
| Swap-Free | Yes | No |
| Withdrawal Fee | Free | Free |
Platform Comparison
Pepperstone Platforms
- MetaTrader 4
- MetaTrader 5
- cTrader
- TradingView
Standard, Razor
Saxo Bank Platforms
- SaxoTraderGO
- SaxoTraderPRO
- SaxoInvestor
Classic, Platinum, VIP
Regulation & Safety
Pepperstone Regulation
ICF (Investor Compensation Fund) up to EUR 20,000
Saxo Bank Regulation
Danish Guarantee Fund up to EUR 100,000
Overall Verdict
Pepperstone takes the overall win with a score of 9.3 vs 9.0, winning 4 out of 7 individual categories compared to Saxo Bank's 3.
In terms of costs, Pepperstone also leads on fees. On the regulatory front, Pepperstone though Saxo Bank has a regulatory edge.
Choose Pepperstone if you prioritise its strengths in the categories where it leads. Choose Saxo Bank if you value the specific areas where it scores higher, such as platforms, regulation, and more.
CFD Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
This website is for informational purposes only. The content does not constitute investment advice. Trading leveraged products carries a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results. EU retail leverage limits apply (ESMA): up to 30:1 on major FX pairs, 20:1 on minor FX, 20:1 on major indices, 10:1 on commodities, 5:1 on equities, 2:1 on crypto.