The side-by-side
The two brokers are close on regulation and platform support, and genuinely different on cost model, entry price and market range. Those three are what should decide it.
Pepperstone vs Capital.com, head to head
| Pepperstone | Capital.com | |
|---|---|---|
| Spread from | 0.0 pips (Razor) | 0.6 pips |
| Commission | ~$3.50/lot/side on Razor; none on Standard | Zero — spread-only |
| Minimum to open | $0 ($10 minimum funding) | $20 |
| Markets | Forex, indices, commodities, shares, ETFs, crypto | 3,000+ incl. thematic baskets |
| Platforms | MT4, MT5, cTrader, TradingView | Own app, MT4, MT5, TradingView, API |
| Mobile app | MetaTrader / cTrader mobile | Built app-first |
| Retail leverage | 1:30 under FCA/ASIC/CySEC | 1:30 under FCA/ASIC/CySEC |
| Swap-free | Yes | Limited availability |
| Guaranteed stop-loss | No | No |
| Founded | 2010 | 2016 |
Cost: the only comparison that pays you back
Zero commission sounds cheaper than $3.50 per lot per side. At low volume it usually is. At high volume it usually is not, and the crossover is worth finding before you pick.
Capital.com's cost is entirely in the spread, from 0.6 pips. Pepperstone's Razor account starts from 0.0 pips and charges roughly $7 per lot round turn in commission. A trader placing a handful of trades a month will barely register the difference. A trader placing many round turns a day is paying the spread difference on every single one, and that is where raw pricing pulls ahead decisively.
Work it against your own volume rather than the headline. Our raw spread vs standard guide sets out the arithmetic, and our lowest spread brokers guide compares all five brokers on the same basis.
Platforms: four versus an app
Pepperstone is the only broker we rank offering MT4, MT5, cTrader and TradingView together. If you run expert advisors, want cTrader's depth-of-market, or have an existing toolchain, that choice is the whole argument.
Capital.com supports MT4, MT5 and TradingView too — the claim that it lacks MetaTrader is false and worth ignoring wherever you see it — but its own app is the reason to pick it. It was built mobile-first rather than as a wrapper around a desktop terminal, and for traders who work from a phone across many markets, that difference is felt on every order.
So: platform *depth* to Pepperstone, platform *experience* to Capital.com.