Pepperstone vs Cobra Trading : Fees, Safety & Trading Conditions Compared (2026)

Broker Name

Pepperstone

Cobra Trading

Broker Overview

Broker Type (e.g., Market Maker, ECN/STP)

ECN broker

None

Years of Existence / Established Year

2010

2003

Customer Base / Number of Accounts

400,000 traders

Info not available

Regulation & Security

Regulations (governing bodies)

FCA, ASIC, DFSA, CySEC, CMA, BaFin, and SCB

FINRA NFA

Awards Won (count for the last 2 years)

2024 Forex Broker of the Year by BrokerWahl.de, TradingView Social Champion 2023

Cobra Trading the best day trading platform

Security Measures

FSCS

SIPC

SSL Encryption / 2FA

Yes

Segregated Funds

Yes

Negative Balance Protection

Yes

Trading Instruments/Products Offered

Assets Types / Trading Instruments (total count and breakdown)

1200+ trading assets including shares, currencies indices

Currency Pairs

Yes

Commodities

Yes

Indices

Yes

Cryptocurrencies

Yes

CFDs

Yes

ETFs

Yes

Stocks

Yes

Options

Yes

Futures

Yes with Venom trading

Bonds

Mutual Funds

Fractional Shares

Exchange Traded Notes (ETNs)

Precious Metals

Yes

Real Estate Investment Trusts (REITs)

Equities

Yes

Trading Platforms & Technology

Trading Platform Availability

Yes

MT4

Yes

MT5

Yes

cTrader

Yes

Social Trading

Yes

Copy Trading

Yes

Other Trading Platforms (proprietary, etc.)

Pepperstone proprietary platform

DAS Trader Pro Sterling Trader Pro Cobra Trading view integration

Platform Compatibility (Windows, Mac, iOS, Android)

Yes

Account Types & Conditions

Account Types (Retail, Pro, VIP, etc.)

Standard and Razor account

Joint (JTWROS) Individual Retirement Account - IRA Roth - IRA Corporate LLC Trust Partnership

Demo Account (Yes/No)

Yes

Islamic Accounts (Yes/No)

Yes

Minimum Deposit

$25,000

Leverage Available

1:20 to 1:500

4:1

Trade Limit (maximum per trade)

100 lots trading size

Trade size vary on each asset

Commission (per account type)

Razor account - $3, Standard account -$0

Best Suited For (e.g., beginners, experienced traders)

Beginner to experienced traders

Experienced

Deposit & Withdrawal Options

Deposit Methods

Credit/debit card, Bank transfer, e-wallets, Union pay, USDT

Check Wire Account transfer

Withdrawal Methods

Credit/debit card, Bank transfer, e-wallets, Union pay, USDT

Check Wire Account transfer

Other E-Wallets Supported

Neteller,skrill, PayPal

Tools & Educational Resources

Economic Calendar

Yes

Tools & Educational Resources (tutorials, webinars, market news, etc.)

Trading Education Online Courses, Market Analysis and Insights, Webinars, Trading Guides and eBooks, Video Tutorials, The Daily Fix Market News and Analysis, Pepperstone Blog Trading Insights

Advanced order types Basket trading Charting & Multi account management Blogs, Posts & platform videos

Fees & Commissions

Trading-Related Fees

Spread-1.2 pips

$0.0015 per share

Spread (typical, fixed, variable)

Variable

Per Lot Fees

Razor account: $3.50 per lot, Raw account: $7 per lot, cTrader:$6 round trip per unit, TradingView: $7 roundtrip per unit

Options Contract Fees

$0.30 per contract

Futures Contract Fees

Markup Fees on Spread

1 pip on FX pairs

Guaranteed Stop Loss Fees

Charges apply

Maximum Leverage

1:500

4:1

Non-Trading Fees

Dormant Fees

$15

Subscription Fees (for premium features, data feeds)

Advisory Fees

Swap Fees (Overnight Financing)

Yes

Statement or Document Fee

Account Opening Fee

Account Maintenance Fee

Deposit Fee

Currency Conversion Fee

Razor Account- $29.36, Standard Account - $48.12, Swap-free Account $58.78

Withdrawal Fee

Bonuses, Promotions & Benefits

Bonuses, Promotions, and Referrals

Yes

Customer Benefits (e.g., Retirement Plan)

Yes

Trading Hours

Trading Hours (for each asset class if applicable)

VIX 00:01 - 23:59 (Opens Monday 01:00; Friday close 23:55), NAS100 01:00 - 23:15, 23:30 - 23:59 (Closes Friday 23:55), HK Share CFDs 4:30-7:00, 8:00-11:00, US Share CFDs 16:31 - 22:55

4am to 8pm EST

Customer Support

Support Hours (e.g., 24/7, weekdays only)

24/7

Monday-Friday - 7am to 4.30pm Saturday & Sunday - Closed

Customer Support Methods (phone, email, live chat)

Phone: +1786 628 1209, Email: [email protected], Live chat

Toll free: 877-792-6272 Direct: 972-491-7999 Fax: 972-491-3111 Email: mailto:[email protected] Live Chat

Support Languages

Additional Information

Headquarters Location

Melbourne, Australia

3008 E. Hebron Pkwy Building 400 Carrolton, TX 75010

Complaints (for crypto brokers)

At TradingCritique, we don't just list brokers. We test, compare, and simplify your decision-making. Whether you're a beginner or a pro, our data-driven comparisons are built to match your trading style and region. Learn how we Evaluate a broker.

If minimizing trading costs is your top priority, Pepperstone might be more attractive due to its lower commissions. Meanwhile, Cobra Trading justifies its moderate fees with more robust tools and professional-grade features.

Account approval at Pepperstone is usually completed within hours, often with automated ID checks. Cobra Trading might take longer due to manual reviews, but provides in-depth onboarding support along the way.

Pepperstone provides a modern trading experience with its proprietary or MT4/MT5 platform, ideal for technical traders. Cobra Trading, on the other hand, offers more research tools and is better suited for data-driven investors.

Pepperstone supports complex strategies and asset diversity, while Cobra Trading offers clarity and low-cost access for long-term holders.

Explore More Broker Matchups

Here are more Comparisons to help you choose wisely

Compare Pepperstone and Forex.com

Compare Pepperstone and GO Markets

Compare Pepperstone and Swissquote

Compare Cobra Trading and AvaTrade

Compare Cobra Trading and axi

Compare Cobra Trading and ATFX

Our Latest Contents

Stay updated with our newest insights and guides!

Top Broker Reviews

Discover brokers trusted by global traders.

Select Your Brokers to Compare