Webull
Pepperstone
Webull vs Pepperstone
A detailed side-by-side comparison based on our hands-on testing across 8 scoring categories.
Webull and Pepperstone are both popular choices for forex and CFD traders, but they cater to different needs and experience levels. Webull, founded in 2017 and headquartered in New York, USA, is regulated by ASIC and offers spreads starting from N/A with a minimum deposit of $0. Pepperstone, established in 2010 in Melbourne, Australia, holds licenses from ASIC, FCA, CySEC, DFSA, SCB with spreads from 0.0 pips and a $0 minimum deposit. In our hands-on testing across 8 scoring categories, Pepperstone scored 8.5/10 overall compared to Webull's 7.5/10, making it the stronger pick for most traders. That said, Webull holds its own with superior education resources and more research tools, so your ideal broker depends on what you prioritize in a trading partner.
Key Differences at a Glance
- 📊
Pepperstone scores 8.5/10 overall vs 7.5/10 for Webull — a 1.0-point difference.
- 📈
Webull offers 5,000+ instruments vs 1,200+ at Pepperstone — a massive gap in market coverage.
- 🖥️
Webull runs on Webull App, while Pepperstone uses MT4, MT5, cTrader, TradingView — different ecosystems for different trading styles.
- ⚡
The biggest gap is in Regulation & Trust: Pepperstone scores 9.0 vs 7.0 for Webull — a 2.0-point difference.
Our Verdict
Webull
Score: 7.5/10 · Wins 2 categories- You're a beginner who values learning resources
- You rely on in-depth research and analysis tools
- You prefer Webull's trading environment overall
Pepperstone
Score: 8.5/10 · Wins 5 categories- You need advanced trading platforms and tools
- Top-tier regulation and fund safety are your priority
- Responsive customer support matters to you
- You want access to a wider range of instruments
Pepperstone takes the lead with an overall score of 8.5/10 compared to 7.5/10, winning in 5 out of 8 scoring categories. Pepperstone stands out for better trading platforms and stronger regulation, while Webull fights back with superior education resources and more research tools.
Detailed Verdict
After testing both brokers with real accounts, Pepperstone comes out ahead with a 8.5/10 overall rating, winning 5 out of 8 categories. Its strongest area is Platforms & Tools where it scores 9.0/10. Pepperstone holds Tier 1 regulation, meaning your funds benefit from top-level investor protection including segregated accounts and compensation schemes. Webull is not without merit — it scores 7.5/10 overall and excels in Trading Costs (8.5/10), winning 2 categories. Traders who value superior education resources or more research tools may find Webull the better fit. For a complete breakdown, read our full Pepperstone review and Webull review — both include account opening walkthroughs, platform screenshots, and withdrawal test results.
Score Breakdown
Pepperstone wins by 0.5 points
Pepperstone wins by 2.0 points
Webull wins by 0.5 points
Pepperstone wins by 1.0 points
Webull wins by 0.5 points
Pepperstone wins by 2.0 points
Pepperstone wins by 0.5 points
Full Feature Comparison
| Feature | ||
|---|---|---|
| Overall Score | 7.5/10 | 8.5/10 ✓ |
| Min Deposit Lower is better | $0 ✓ | $0 ✓ |
| Max Leverage | 1:5 | 1:500 |
| Spreads From | N/A | 0.0 pips |
| Platforms | Webull App | MT4, MT5, cTrader, TradingView |
| Regulation | ASIC | ASIC, FCA, CySEC, DFSA, SCB |
| Founded Older track record highlighted | 2017 | 2010 ✓ |
| Markets | 5,000+ ✓ | 1,200+ |
Fees & Costs
When it comes to trading costs, Webull has the edge with a score of 8.5/10 versus 8.5/10 for Pepperstone. Webull offers spreads starting from N/A, while Pepperstone starts from 0.0 pips. The minimum deposit at Webull is $0, compared to $0 at Pepperstone. Both brokers operate primarily on a spread-based pricing model, though actual costs vary by account type and instrument. For high-volume traders, even small spread differences add up significantly over time, making this an important category to weigh carefully.
Trading Platforms
Pepperstone scores 9/10 for platforms compared to 8.5/10 for Webull. Webull provides Webull App, while Pepperstone offers MT4, MT5, cTrader, TradingView. The choice of platform affects your charting, order execution speed, and available technical indicators. Traders who rely on MetaTrader's algorithmic trading capabilities should check which MT4/MT5 features each broker supports, including custom indicators and expert advisors.
Regulation & Safety
Regulation is crucial for fund safety. Webull is regulated by ASIC (Tier 1), while Pepperstone holds licenses from ASIC, FCA, CySEC, DFSA, SCB (Tier 1). Webull scores 7/10 and Pepperstone scores 9/10 in this category. Tier 1 regulators like FCA, ASIC, and CySEC offer the strongest investor protection, including segregated client funds and compensation schemes. Always verify your broker's specific license for your jurisdiction before opening an account.
Education & Research
For learning resources, Webull leads with 7.5/10 compared to 7/10. Quality education materials can shorten your learning curve significantly. Look for brokers offering structured courses, live webinars, and practice demo accounts. Webull and Pepperstone both provide demo accounts for risk-free practice, but the depth of educational content varies. Beginners should prioritize this category when choosing between the two.
Customer Support
Webull offers 24/5 Live Chat, Email and scores 7/10, while Pepperstone provides 24/5 Live Chat, Email, Phone with a score of 8/10. Reliable support becomes critical during market volatility or when you encounter account issues. Look for brokers with 24/5 or 24/7 availability, multiple contact channels, and support in your preferred language.
Deposit & Withdrawal
Webull scores 7/10 for deposits and withdrawals, while Pepperstone scores 9/10. Webull accepts Bank Transfer, and Pepperstone supports Bank Transfer, Credit Card, PayPal, Skrill, Neteller. Processing times, fees, and available currencies vary. Webull requires a minimum deposit of $0 versus $0 for Pepperstone. Always check withdrawal conditions and any potential fees before funding your account.
Which Broker Is Right for You?
Choose Webull if you...
- You're a beginner who values learning resources
- You rely on in-depth research and analysis tools
- You prefer Webull's trading environment overall
Choose Pepperstone if you...
- You need advanced trading platforms and tools
- Top-tier regulation and fund safety are your priority
- Responsive customer support matters to you
- You want access to a wider range of instruments
🗳️ Which Broker Do You Prefer?
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Frequently Asked Questions
Is Webull better than Pepperstone?
Pepperstone scores higher overall (8.5/10 vs 7.5/10), winning 5 of 8 categories. However, Webull is stronger in superior education resources and more research tools. The best choice depends on what matters most to your trading style.
Which has lower fees, Webull or Pepperstone?
Webull scores higher for trading costs. Webull offers spreads from N/A with a $0 minimum deposit, while Pepperstone starts from 0.0 pips with $0 minimum. Actual trading costs depend on your instrument, volume, and account type.
Is Webull safe to trade with?
Webull is regulated by ASIC and scores 7/10 for regulation. Pepperstone is regulated by ASIC, FCA, CySEC, DFSA, SCB with a score of 9/10. Both hold recognized licenses, but verify the specific entity covering your region.
Which has better trading platforms, Webull or Pepperstone?
Pepperstone scores 9/10 for platforms. Webull offers Webull App, while Pepperstone provides MT4, MT5, cTrader, TradingView. Your ideal platform depends on whether you prefer proprietary tools, MetaTrader, or third-party solutions.
What's the minimum deposit for Webull vs Pepperstone?
Webull requires a minimum deposit of $0, while Pepperstone requires $0. Pepperstone has the lower entry barrier, making it more accessible for beginners or those testing with smaller amounts.
Ready to Start Trading?
Open a free account with either broker and start trading today.