Pepperstone falls 6.5 points · Pepperstone retains the top of the index

Pepperstone retains the top position in June 2026 with a score of 59.5, anchored by four tier-1 regulator licences—one more than tied runners-up Forex.com and Eightcap. The three-way tie at 59.5 reflects near-identical spread performance (all three offer zero-pip EUR/USD spreads on standard accounts) and comparable regulatory footprints. No broker moved significantly in relative rank this month; competitive positioning remained stable across the ranked universe of 23 brokers, with universal scores declining by 6.5 points due to a systematic methodology cap rather than competitive deterioration.

The June issue introduces a scoring cap for brokers lacking published MiFID II best-execution disclosures, resulting in the uniform 6.5-point deduction across all 23 ranked entities. This creates a methodological tension: RTS 28 best-execution reporting was abolished by ESMA in February 2024 following the MiFID II review, yet the index penalizes brokers for non-publication of a defunct regulatory obligation. The cap now affects 100% of the ranked universe, as no broker in the June dataset has ingested disclosure data. Coverage gaps of this magnitude render absolute scores incomparable to prior issues until methodology alignment is resolved.

Retail traders selecting a broker this month should weight regulator count and jurisdictional diversity over absolute index scores. Pepperstone's four-licence structure—including BaFin oversight with its elevated capital requirements—provides stratified protection if a single jurisdiction's compensation scheme becomes impaired. Traders holding balances exceeding the CySEC ICF limit of €20,000 should verify with their prospective broker whether cross-border scheme portability applies before depositing, particularly for German or UK-regulated entities operating under passporting arrangements.