AuthorBy Björn Michels
Updated: August 5, 2022

Trading with a reputable online broker is a crucial factor for success in the international markets. At TradeForexSA, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

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Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.30/ 5 ZAR 1000FSCA Regulated Forex BrokersASIC Regulated Forex BrokersFCA Regulated BrokersSecurities Commission of the BahamasSTPCommodities, Cryptocurrencies, Stock CFDs, Forex, Indices3210
  • South African broker; FSCA regulated (FSP 49846) since 2009
  • Fast STP trade execution and negative balance protection for all traders
  • Tight spreads starting at 0.6 pips and no commission
  • ZAR accounts available; trade in Rand with fast deposits and withdrawals
  • Limited trading platform choice: MT4 and CloudTrade only.
Read Review 11110.54.5/ 5 11110.54.5/ 5 11110.54.5/ 5 11110.54.5/ 5 11110.54.5/ 5 1110.503.5/ 5 111104/ 5 0400:10.60 pips GBP Account, USD Account, ZAR Account MT4, Cloud TradeBank Transfer, Visa, Mastercard, Ozow, Skrill, NetellerFees Included in Spread
11110.54.61/ 5 USD 0FCA Regulated BrokersASIC Regulated Forex BrokersCySEC Regulated BrokersDubai Financial Services AuthorityBundesanstalt für FinanzdienstleistungsaufsichtSecurities Commission of the BahamasCapital Markets AuthorityNDDCommodities, Cryptocurrencies, Stock CFDs, ETFs, Forex, Indices, Metals7019
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
  • Limited market analysis
Read Review 11110.54.5/ 5 111115/ 5 111115/ 5 111104/ 5 11110.54.5/ 5 11110.54.5/ 5 11110.54.5/ 5 75.8%400:10 pips cTrader Razor, MT5 Razor, MT4 Razor, Standard, Swap-free MT4, MT5, cTraderBank Transfer, Visa, Mastercard, POLi, BPay, Paypal, Neteller, Skrill, UnionpayFrom 7 USD / lot - Razor Account

At TradeForexSA, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare Pepperstone and Blackstone Futures, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does Pepperstone or Blackstone Futures have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that Pepperstone holds two Tier 1 and three Tier 2 licences, and Blackstone Futures holds two Tier 1 and no Tier 2 licences.

 

Can I trust Pepperstone?

Yes as Pepperstone was founded in 2010 and is regulated by ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB.

 

Can I trust Blackstone Futures?

Yes as Blackstone Futures was founded in 2009 and is regulated by ASIC, FCA, FSCA and SCB.

 

Based on these findings, Pepperstone earned a higher trust rating than Blackstone Futures.

Does Pepperstone or Blackstone Futures have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that Blackstone Futures and Pepperstone have the same trading costs. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
Blackstone Futures
11110.54.5/ 5
ZAR, USD, GBP
0.60 pips
USD 6
0.60 pips
0.80 pips
1.00 pips
USD 0
Pepperstone
111115/ 5
EUR, GBP, USD, AUD, NZD, JPY, CHF, SGD, HKD, CAD
0.60 pips
USD 6
0.17 pips
0.59 pips
0.26 pips
USD 0

 

Does Pepperstone or Blackstone Futures offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, Pepperstone offers support for cTrader, MT4 and MT5 and Blackstone Futures offers support for MT4 and Cloud Trade. 

Do the brokers offer copy trading?

Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both Blackstone Futures and Pepperstone offer copy trading.

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Broker
Platform Choice
Copy Trading
Platforms
Blackstone Futures
11110.54.5/ 5
Cloud Trade

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that Pepperstone offers a greater range and depth of instruments to trade than Blackstone Futures. Pepperstone offers 70 Forex pairs to trade and Blackstone Futures offers 32 Forex pairs to trade.

And what about Cryptocurrencies?

In this case, Pepperstone offers 19 cryptocurrencies while Blackstone Futures offers 10 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with Pepperstone.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that neither Blackstone Futures nor Pepperstone charges a withdrawal fee. Overall, Blackstone Futures has better deposit and withdrawal processes than Pepperstone. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

Blackstone Futures and Pepperstone both have moderate educational support. Pepperstone offer educational support for more experienced traders and Blackstone Futures does not.

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
Blackstone Futures
Medium
Pepperstone
Medium

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that Pepperstone offers better research analysis than Blackstone Futures and that both Blackstone Futures and Pepperstone offer frequent webinars.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
Blackstone Futures
Pepperstone

 

Our overall Verdict on Pepperstone

One of our highest rated brokers for South African traders, Pepperstone was founded in Australia in 2010 and is globally renowned for its low trading costs and choice of trading platforms. Pepperstone keeps costs low with some of the tightest spreads we've seen, averaging 0.77 pips (EUR/USD) on its Standard Account. For those who prefer classic ECN trading, the Razor Account has low commissions and spreads averaging at just 0.17 pips on the EUR/USD. Neither account has a required minimum deposit.

Despite the low costs, we are disappointed with Pepperstone's complicated commission structure and lack of FSCA regulation. But more experienced traders will appreciate Pepperstone’s trading platform options, including MT4, MT5, and cTrader, which integrates seamlessly with the TradingView tool. All are available on desktop and mobile devices. Pepperstone’s education section is not the most extensive we’ve seen, but it is competent and well-structured, making it a good place to start for beginner traders. 

Our overall Verdict on Blackstone Futures

Founded in 2009, Blackstone Futures is a well-regulated South African broker with an attractive ZAR Account and strong educational support that appeals to beginner traders.

The trading account at Blackstone Futures accommodates beginner South African traders with a minimum deposit of 1,000 ZAR, low trading costs with spreads starting at 0.6 pips (EUR/USD), and an optional ZAR wallet. This account allows clients to make smaller trades, and while the number of financial assets may seem more limited than with other international brokers, this should not restrict the trading of any serious beginner.

Beginner traders receive strong educational support, including weekly webinars and in-person seminars around South Africa, in addition to customer service available on weekends.  Blackstone also supports beginners by reducing leverage to 1:100, which will increase to 1:400 once the client has a track record of responsible trading.

Which broker has the highest overall rating?

Pepperstone has an overall rating of 4.61 and Blackstone Futures has an overall rating of 4.30. For more detail please read our reviews of Pepperstone and Blackstone Futures.

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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