Pepperstone vs XM: fees, cashback and which to choose
Pepperstone is an award-winning forex and CFD broker; XM is a globally accessible broker for all levels. We compare them on fees, available cashback and which trader profile each suits — plus how to recover part of your fees on both.
Quick comparison
| Pepperstone | XM | |
|---|---|---|
| Cashback | 26% | 25% |
| Applies to | of spreads and commissions | of spreads and commissions |
| Countries | 5+ | 6+ |
| Best for | traders who want a regulated broker with powerful platforms | beginners and traders starting with small deposits |
Fees
Pepperstone. Tight spreads on Razor accounts plus commission; strong on platforms (MT4/MT5, cTrader).
XM. Commission-free accounts with slightly wider spreads; very beginner-friendly on capital.
Available cashback
Pepperstone offers more cashback (26%) than XM (25%), so you recover a larger share of every fee you pay. The gap matters most if you trade with volume.
Work out how much you'd recover for your volume with the cashback calculator.
Pros and cons
Pros
- Solid regulation and reputation
- cTrader and MT4/MT5 support
- Good customer service
- 26% cashback via Omanero
Cons
- Limited crypto-CFD catalog
- Not available in some regions
Pros
- Low minimum deposit
- Abundant educational material
- Millions of accounts and multilingual support
- 25% cashback via Omanero
Cons
- Wider spreads on standard accounts
- Less appealing to professional traders
Best for each profile
Choose Pepperstone if you're traders who want a regulated broker with powerful platforms. Choose XM if you're beginners and traders starting with small deposits.
Verdict
If your priority is recovering the most fees, Pepperstone leads with 26% cashback. If you value XM's profile more, you still recover fees at 25%. Best of all: you don't have to choose — use both and earn cashback on each.
Recover fees on Pepperstone and XM with verifiable payments.