Side-by-side regulation, cost, platforms, and score -- generated from the same disclosed data and methodology behind our rankings.
| LMAX | Pepperstone | |
|---|---|---|
| Overall score | 3.36 / 5 | 3.75 / 5 |
| Regulation | CySEC No. 310/16 + FCA-licensed (FRN unconfirmed) FCA-licensed; firm reference number not independently confirmed. |
CySEC No. 388/20 + FCA No. 684312 + FSA Seychelles-licensed (licence number unconfirmed) FSA Seychelles-licensed via Pepperstone International Markets Limited; exact SD number not independently confirmed |
| Entity | LMAX Broker Europe Ltd | Pepperstone EU Limited |
| Founded | 2010 | 2010 |
| Headquarters | London, United Kingdom (LMAX Group parent, set up by Betfair/Goldman Sachs alumni); LMAX Broker Europe Ltd is the CySEC-licensed Cyprus entity serving EU retail clients | Melbourne, Australia |
| Minimum deposit | $10,000 | $10 |
| Avg. spread (EUR/USD) | 0.3 pips | 1.1 pips |
| Platforms | MT4, MT5, Proprietary (LMAX Trader) | MT4, MT5, cTrader, TradingView |
| Other Tier-1 regulators | None confirmed | ASIC, DFSA |
| Instruments | LMAX publishes a specific, independently reported range rather than a vague estimate: 100+ instruments across forex, spot metals (bullion), equity indices, commodities, and cryptocurrency CFDs, plus a "Weekend FX" product (cash-settled FX CFDs tradable over the weekend). No shares/stock CFDs were found in any source. | 1,300+ instruments across forex, indices, commodities, shares |
| Visit | Visit LMAX | Visit Pepperstone |
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