Pepperstone vs XM Group: Which Broker is Better for North Macedonia Traders in 2026?
Which broker is better for North Macedonia traders in 2026? Expert analysis across 12 categories.
For retail traders in North Macedonia, choosing between Pepperstone and XM Group is a critical decision. Both brokers are globally recognized, accept Macedonian clients, and support local payment methods like Bank Transfer, Skrill, Neteller, and USDT. However, differences in spreads, platform features, and regulatory protection can impact your trading experience. Pepperstone scores 4.9/5, excelling in low-cost trading and fast execution, while XM Group (4.7/5) offers a wider range of account types and educational resources. This comparison focuses on what matters most to traders in North Macedonia: deposit convenience, cost efficiency, and reliability under the local financial regulator’s oversight.
| Instrument | Pepperstone | XM Group | Winner |
|---|---|---|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | XM Group |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | XM Group |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | XM Group |
| Standard acc spread | from 1.0 pips | from 0.8 pips | XM Group |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $0 | $5 | Pepperstone |
| Inactivity fee | ✓ | ✓ | Tie |
Pepperstone consistently offers lower trading costs for North Macedonia traders, especially on its Razor account (spreads from 0.0 pips, commission $7 per lot round turn). XM Group’s standard account has spreads from 0.6 pips on EUR/USD with no commission. For a trader executing 50 lots per month, Pepperstone saves approximately $150 in spread costs. XM Group’s Micro account is better for small-volume traders, but overall, Pepperstone is more cost-effective for active Macedonian traders.
| Account Type | Pepperstone | XM Group |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✗ | ✓ |
| Zero spread account | ✓ | ✓ |
| Copy trading | ✗ | ✗ |
| VPS trading | ✓ | ✓ |
| Min deposit | $0 | $5 |
| Neg. balance protection | ✓ | ✓ |
| Entity / Asset | Pepperstone | XM Group |
|---|---|---|
| North Macedonia (offshore) | Up to 1:500 | Up to 1:500 |
| Forex major pairs | 1:500 | 1:500 |
| 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 | XM Group | 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 | ✗ | ✗ | XM Group |
| ETFs | ✗ | ✗ | Tie |
| Options | ✗ | ✗ | Tie |
| Futures | ✗ | ✗ | Tie |
| Platform | Pepperstone | XM Group |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✓ |
| MetaTrader 5 (MT5) | ✓ | ✓ |
| cTrader | ✓ | ✗ |
| TradingView | ✓ Exclusive | ✗ |
| Expert Advisors (EAs) | ✓ | ✓ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
| Fixed spreads | ✗ | ✗ |
| Variable spreads | ✓ | ✓ |
Both brokers provide MetaTrader 4 and MetaTrader 5, the most popular platforms among North Macedonia traders. Pepperstone also offers cTrader and its proprietary web platform, giving more flexibility. XM Group focuses on MT4/MT5 and its XM WebTrader. For Macedonian traders who value advanced charting and algorithmic trading, Pepperstone’s cTrader is a strong advantage. Both platforms are available in English and offer mobile apps for iOS/Android.
| Factor | Pepperstone | XM Group | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | XM Group |
| 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 boasts an average execution speed of 30-40 milliseconds, using straight-through processing (STP) and no dealing desk (NDD). XM Group executes in around 50-70 milliseconds with NDD execution. For scalpers and high-frequency traders in North Macedonia, Pepperstone’s faster execution and lower latency offer a clear advantage, especially during volatile market conditions.
| Safety Factor | Pepperstone | XM Group |
|---|---|---|
| Primary regulator | FCA | ASIC |
| Reg number | #684312 | #443670 |
| Verify registration | Verify ↗ | Verify ↗ |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
Pepperstone is regulated by the FCA (UK), ASIC (Australia), and CySEC (Cyprus), while XM Group holds licenses from CySEC, FCA, and IFSC. Neither broker is directly regulated by the local financial regulator in North Macedonia, but both comply with international standards. For Macedonian traders, Pepperstone’s FCA regulation provides stronger investor protection (up to £85,000 under FSCS), while XM Group’s CySEC license offers €20,000 coverage under ICF. Always verify current regulatory status before depositing.
| Payment Method | Pepperstone | XM Group |
|---|---|---|
| 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 | Visa/Mastercard and e-wallets near-instant to 1-2 business days; bank wire several days |
| Min withdrawal | $50 | $50 |
North Macedonia traders can fund accounts using Bank Transfer, Skrill, Neteller, and USDT at both brokers. Pepperstone processes Skrill and Neteller deposits instantly with no fees, while bank transfers take 1-3 business days. USDT deposits are supported via ERC-20 and TRC-20 networks. XM Group also offers fee-free deposits via Skrill/Neteller and bank transfers, with USDT available through its payment partners. Withdrawals are processed within 24 hours for e-wallets and 2-5 days for bank transfers at both brokers. Minimum deposit at Pepperstone is $200 (or equivalent), while XM Group requires only $5 for Micro accounts, making XM more accessible for beginners.
| Islamic Account Feature | Pepperstone | XM Group |
|---|---|---|
| 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 XM Group offer swap-free Islamic accounts for Muslim traders in North Macedonia. Pepperstone provides Islamic accounts on all account types (Standard, Razor, cTrader) with no time limit and no additional fees. XM Group offers Islamic accounts on Standard and Micro accounts, also swap-free indefinitely. Traders must request the account during registration. Both brokers comply with Sharia law by not charging or paying overnight interest.
| Support Feature | Pepperstone | XM Group | Winner |
|---|---|---|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| 24/5 support | ✓ | ✓ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | Pepperstone |
Pepperstone offers 24/7 multilingual support via live chat, email, and phone, with Macedonian traders assisted in English. XM Group also provides 24/5 support with a dedicated account manager for VIP clients. Response times are similar (under 2 minutes for live chat). Both brokers have extensive FAQ sections on their websites.
| Mobile Feature | Pepperstone | XM Group | 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 | XM Group | Winner |
|---|---|---|---|
| Video tutorials | 100+ videos | 50+ videos | Pepperstone |
| Webinars (live) | Weekly | Monthly | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | Pepperstone |
| Beginner resources | Excellent | Basic | Pepperstone |
Choose Pepperstone if you...
- Are an active or high-volume trader seeking the lowest spreads and commissions.
- Prefer advanced platforms like cTrader alongside MetaTrader 4/5.
- Value faster execution speeds for scalping or algorithmic trading.
- Want stronger regulatory protection under FCA or ASIC.
Choose XM Group if you...
- Are a beginner or low-volume trader with a small starting capital (minimum $5).
- Need a wide range of account types (Micro, Standard, XM Ultra Low).
- Prefer extensive educational resources and webinars.
- Want access to a larger selection of instruments (over 1,000 CFDs).
For most retail traders in North Macedonia, Pepperstone is the superior choice due to its lower trading costs, faster execution, and robust regulatory oversight. The ability to deposit via Bank Transfer, Skrill, Neteller, and USDT makes it convenient for local users. However, XM Group remains a strong alternative for beginners or those with smaller budgets, thanks to its low minimum deposit and educational tools. Both brokers operate legally in North Macedonia without local regulator restrictions. Your final decision should align with your trading style, volume, and preference for platform features.