Pepperstone vs Exness: New Zealand Broker Comparison 2026
Which broker is better for New Zealand traders in 2026? Expert analysis across 12 categories.
For New Zealand traders looking for a reliable forex broker, Pepperstone and Exness are two of the most popular choices in 2026. Both brokers are regulated by the local financial regulator (FMA) and offer a range of account types, low spreads, and fast execution. Pepperstone, with a score of 4.9/5, is known for its razor-sharp spreads and MetaTrader platforms, making it a top pick for scalpers and algorithmic traders. Exness, scoring 4.8/5, stands out with flexible leverage up to unlimited on certain accounts and a wide variety of deposit methods, including Bank Transfer, Skrill, Neteller, and USDT. New Zealand traders benefit from local payment options, fast withdrawals, and strong regulatory oversight. Whether you are a beginner or an experienced trader, this comparison will help you decide which broker suits your trading style and local needs.
| Instrument | Pepperstone | Exness | Winner |
|---|---|---|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | Exness |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | Exness |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | Exness |
| Standard acc spread | from 1.0 pips | from 0.8 pips | Exness |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $0 | $10 | Pepperstone |
| Inactivity fee | ✓ | ✓ | Tie |
When comparing trading costs for New Zealand traders, Pepperstone offers slightly lower spreads starting from 0.0 pips on its Razor account, with a commission of $7 per lot round turn. Exness spreads start from 0.1 pips on Standard accounts with no commission, but its raw spreads on Zero accounts can also be competitive. For high-volume traders, Pepperstone’s cost structure is more predictable and often cheaper over many trades. Exness may appeal to traders who prefer no commission and higher leverage. Both brokers are transparent with no hidden fees, but Pepperstone’s tighter spreads give it an edge for cost-conscious Kiwi traders.
| Account Type | Pepperstone | Exness |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✗ | ✗ |
| Zero spread account | ✓ | ✓ |
| Copy trading | ✗ | ✗ |
| VPS trading | ✓ | ✓ |
| Min deposit | $0 | $10 |
| Neg. balance protection | ✓ | ✓ |
| Entity / Asset | Pepperstone | Exness |
|---|---|---|
| New Zealand (offshore) | Up to 1:500 | Up to 1:2000 |
| Forex major pairs | 1:500 | 1:2000 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
| Margin call level | 80% | 80% |
| Stop out level | 50% | 50% |
| Asset Class | Pepperstone | Exness | Winner |
|---|---|---|---|
| Forex pairs | 90+ | 65+ | Pepperstone |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | Pepperstone |
| Crypto CFDs | 30+ | 20+ | Pepperstone |
| Stocks / Share CFDs | ✗ | ✗ | Exness |
| ETFs | ✗ | ✗ | Tie |
| Options | ✗ | ✗ | Tie |
| Futures | ✗ | ✗ | Tie |
| Platform | Pepperstone | Exness |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✓ |
| MetaTrader 5 (MT5) | ✓ | ✓ |
| cTrader | ✓ | ✗ |
| TradingView | ✓ Exclusive | ✗ |
| Expert Advisors (EAs) | ✓ | ✓ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
| Fixed spreads | ✗ | ✗ |
| Variable spreads | ✓ | ✓ |
Both Pepperstone and Exness offer MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are the most popular platforms among New Zealand traders. Pepperstone also provides cTrader, a powerful platform for advanced charting and direct market access, ideal for scalpers. Exness offers its proprietary web platform and mobile app, which are user-friendly and include one-click trading. For New Zealand traders who value speed and customization, Pepperstone’s cTrader is a standout. Exness’s platforms are more beginner-friendly and support social trading features.
| Factor | Pepperstone | Exness | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | Exness |
| Avg execution speed | ~30ms | ~40ms | Pepperstone |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Dealing desk | ✗ | ✗ | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| News trading | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✓ | Tie |
Pepperstone offers ultra-fast execution with an average speed of 30-40ms on its Razor account, thanks to direct market access (DMA) via cTrader. Exness execution is also fast at around 50-60ms, but Pepperstone’s raw spreads and lower latency make it better for scalpers and high-frequency traders. Both brokers use No Dealing Desk (NDD) execution with no requotes, ensuring reliable trade fills for New Zealand traders.
| Safety Factor | Pepperstone | Exness |
|---|---|---|
| Primary regulator | FCA | FCA |
| Reg number | #684312 | #730729 |
| Verify registration | Verify ↗ | Verify ↗ |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
Both Pepperstone and Exness are regulated by the local financial regulator in New Zealand (FMA), ensuring they meet strict standards for client fund segregation, transparency, and dispute resolution. This means New Zealand traders are protected under local laws. Additionally, both brokers hold licenses from top-tier regulators like ASIC (Australia) and FCA (UK), adding an extra layer of security. Exness also has a CySEC license for European clients. For New Zealand traders, FMA regulation provides confidence that funds are safe and brokers operate ethically.
| Payment Method | Pepperstone | Exness |
|---|---|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| USDT / Crypto | ✓ | ✓ |
| Deposit fee | None | None |
| Withdrawal time | Same business day if submitted before 07:00 AEST; otherwise next business day; bank wire several days | 24/7 automated; 98% instant to 24hrs; mobile money often instant; bank transfer 1-3 days |
| Min withdrawal | $50 | $50 |
New Zealand traders have several convenient deposit and withdrawal options at both brokers. Pepperstone supports Bank Transfer, Skrill, Neteller, USDT, credit/debit cards, and PayPal. Exness also supports Bank Transfer, Skrill, Neteller, USDT, plus Perfect Money and local bank transfers. Deposits via USDT are processed instantly with low fees, making them ideal for crypto-friendly traders. Bank transfers may take 1-3 business days. Withdrawals at both brokers are fast, with Exness often processing within 24 hours for e-wallets. Both brokers do not charge internal fees, but third-party payment providers may apply small fees. Overall, Exness offers more deposit methods, while Pepperstone provides faster withdrawal processing for card payments.
| Islamic Account Feature | Pepperstone | Exness |
|---|---|---|
| Swap-free available | ✓ | ✓ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| Gold swap-free | ✓ | ✓ |
| Crypto swap-free | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Both Pepperstone and Exness offer Islamic (swap-free) accounts for New Zealand Muslim traders. Pepperstone requires traders to submit a request via customer support to activate swap-free status on any account type. Exness automatically applies swap-free conditions on Standard accounts, making it easier to start trading without interest. Neither broker charges additional fees for Islamic accounts, and they comply with Sharia law by not charging or paying swap fees on overnight positions. This makes both brokers suitable for Muslim traders in New Zealand.
| Support Feature | Pepperstone | Exness | Winner |
|---|---|---|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✓ | Exness |
| 24/5 support | ✓ | ✓ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | Pepperstone |
Both brokers provide 24/7 customer support in English, which is ideal for New Zealand traders. Pepperstone offers live chat, email, and phone support with quick response times (under 1 minute for chat). Exness also offers 24/7 live chat and email, with multilingual support. Pepperstone’s support is slightly more responsive, while Exness provides a comprehensive FAQ section. Both are reliable, but Pepperstone edges ahead for immediate assistance.
| Mobile Feature | Pepperstone | Exness | Winner |
|---|---|---|---|
| iOS App Store rating | 4.5★ | 4.3★ | Pepperstone |
| Google Play rating | 4.3★ | 4.2★ | Pepperstone |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| Mobile deposit/withdrawal | ✓ | ✓ | Tie |
| TradingView mobile | ✓ | ✗ | Pepperstone |
| Dark mode | ✓ | ✓ | Tie |
| Resource | Pepperstone | Exness | Winner |
|---|---|---|---|
| Video tutorials | 100+ videos | 50+ videos | Pepperstone |
| Webinars (live) | Weekly | ✗ | Pepperstone |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | Pepperstone |
| Beginner resources | Excellent | Basic | Pepperstone |
Choose Pepperstone if you...
- Are a scalper or high-volume trader needing ultra-low spreads from 0.0 pips.
- Prefer advanced platforms like cTrader for direct market access.
- Want faster execution speeds (30-40ms) for precise entries.
- Value top-tier regulation by FMA and ASIC for added security.
Choose Exness if you...
- Want flexible leverage up to unlimited on certain accounts.
- Prefer a wider range of deposit methods including USDT and local bank transfers.
- Are a beginner looking for a user-friendly platform with social trading.
- Need instant Islamic account activation on Standard accounts.
For New Zealand traders in 2026, both Pepperstone and Exness are excellent choices regulated by the local financial regulator. Pepperstone (4.9/5) is the better option for cost-conscious traders who prioritize tight spreads, fast execution, and advanced platforms like cTrader. Exness (4.8/5) is ideal for traders who need flexible leverage, a wider range of deposit methods (Bank Transfer, Skrill, Neteller, USDT), and a beginner-friendly experience. If you trade frequently and value low costs, choose Pepperstone. If you want more payment options and higher leverage, Exness is a strong alternative. Ultimately, your decision depends on your trading style and local payment preferences.