Due to suitable adsorption energetics of HER/HOR and OER/ORR reaction intermediates, platinum group metals usually exhibit very high catalytic activities , although no single metal is an excellent catalyst for all four reactions. Typically, platinum and iridium stand out as benchmark catalysts for these reactions . Moreover, not only do the activities of noble and platinum group metals towards hydrogen and oxygen electrode reactions vary, but their prices differ to a great extent and are quite volatile , making any solid predictions about their widespread usage quite difficult. Thus, an understanding of the fundamental properties of different noble metal-based catalysts is needed as the potential for their wider application can open easily due to price variations combined with high catalytic activities.