Pepperstone Review

pepperstone logo

Pepperstone  is a popular Australian CFD forex broker. It was established in 2010 in Melbourne Australia.

Pepperstone Pros & Cons

Pepperstone Pros
  • Ultra Low Forex Spreads 
  • No requotes, No slippages policy
  • Leverage up to 1:30 (ASIC license)
  • Leverage up to 1:500 (SCB license)
  • Leverage up to 1:30 (BaFIN Germany)
  • Leverage up to 1:400 (CMA Kenya)
  • Leverage up to 1:50 (DFSA Dubai)
  • Leverage up to 1:30 (FCA, CySEC license)
  • Minimum deposit $200 
  • 150+ currency pairs available
  • Low spreads from 0.0 Pips (RAZOR Account)
  • Spreads are floating (variable)
  • Fast trade execution
  • Spread Betting for UK, Ireland clients
  • Scalping/Hedging is allowed
  • MT4 / MT5, cTrader, Webtrader
  • Account currencies: AUD, USD, SGD, HKD, JPY, NZD, EUR, CHF and GBP
Pepperstone Cons
  • Focused mostly on forex
  • Not available for USA traders
  • No real stocks available (only CFDs)

Visit Pepperstone

Between 74% – 89% of retail CFD investor accounts lose money.

Safety & Regulation

Pepperstone is considered very safe forex broker with a high trust score of 98/100. It is our top recommendation for forex trading.

Pepperstone is regulated in Top Tier High Trust jurisdictions:

  1. Financial Conduct Authority of United Kingdom (FCA UK) nbr. 684312
  2. BaFin  Federal Financial Supervisory in Germany Nr.151148
  3. Australian Securities and Investments Commission (ASIC) nbr. AFSL 414530
  4. Cysec – Cyprus Securities Commitee 388/20
  5. Dubai financial services authority DFSA

 2nd Tier regulators :

  1. CMA Capital Markets Authority in Kenya No.128
  2. SCB in Bahamas

Pepperstone Main Features  

Ninja Column 1Ninja Column 2
💰 Broker rating4.5 out of 5
💳 Minimum deposit$200
📉 EURUSD spreadfrom 0,0 pip
🖥 Minimum trade volume 0.01 Lot
💰Number of currency pairs 86 pairs
📉 Max leveragedepends on the entity starting from 1:30 up to 1:500
📉 Metatrader 4yes
📉 CopytradingNo
📉 CFD on Stocksyes
📉 CFD Gold, Silver, Oilyes
📉 Agriculture commodities CFDyes
📉 Indices CFDyes
📉 PAMM Account yes
💰 Account TypesStandard, Razor, Islamic account
💰 Islamic accountYes swap free islamic account
💰 Account currenciesGBP, AUD, USD, SGD, HKD, JPY, NZD, EUR, CHF
☎ RegulationAustralian Securities and Investments Commission, BaFIN Germany, FCA United Kingdom, DFSA Dubai UAE, CMA Kenya
📚 Languages supported24 languages supported: Arabic, Bengali, Bulgarian, Chinese Simplified, Chinese Traditional, English, French, German, Greek, Indonesian, Italian, Korean, Malay, Persian / Farsi, Polish, Portuguese, Russian, Spanish, Thai, Vietnamese

Pepperstone Spreads & Fees 

Spreads heavily depend on the type of Account that you have selected!

Average spreads on Pepperstone Razor Account: 

0,17 Pip0,09 Pip0,59 Pip0,31 Pip0,35 Pip0,25 Pip

Pepperstone Trading Accounts

Broker Pepperstone offers 3 types of trading accounts:

  2. RAZOR
  3. SWAP-FREE Islamic account.

With all three accounts, Pepperstone offers:

  • One of the lowest forex trading costs (spreads) you can possibly find!
  • Possibility to try trading on demo account
  • Wide range of offered currency pairs
  • Protection against negative balance
  • Maximum leverage up to 1:500

1. Razor Account

The Razor Merchant Account offered by Pepperstone is a state-of-the-art infrastructure that allows forex traders to benefit from flexible leverage and trading from as little as 0.01 Lot.

Thanks to Pepperstone’s access to interbank prices, the spread starts at 0.0 pips. Traders will be charged $3.50 to trade 1 Lot (100,000 currency units).

2. Standard Account

The Standard trading account offers spreads starting from 1 pips, and you do not pay a fee to execute the trade. You can choose one of three MetaTrader 4, MetaTrader 5 or cTrader trading platforms for your account.

3. Islamic SWAP free Account

The Islamic Swap-Free Merchant trading Account (without swap fees) is for merchants who cannot receive or pay swap fees. Spread height starts from 1 pip.

The trading account is interest-free, while allowing traders to use Pepperstone’s cutting edge trading technology and deep liquidity.

Pepperstone Trading Platforms

1. Webtrader trading platform

Pepperstone’s webtrader provides direct access to the trading account from any computer with internet access. The web-based trading platform offers full functionality with a very simple and intuitive operating concept.

Even beginners in forex trading should get along with this trading platform without any major difficulties.

During our test, there were no delays with orders. We liked the variety of charts with technical analyses and a large number of indicators.

This test was conducted using the Pepperstone webtrader.

We have found out that Pepperstone’s webtrader is pretty easy even for a newcomer. It doesn’t require a steep learning curve like Metatrader 4. Pepperstone webtrader is user friendly, every item is where you would expect it to be. As a new user you need perhaps few minutes to learn the ropes. There’s no steep learning curve.

Pepperstone Webtrader platform review
Pepperstone’s Webtrader based on SIRIX technology

2. Mobile trading Apps

Traders can use mobile trading apps that we tested on our Android smartphone Samsung A50 Galaxy. The app worked smooth during this review.

Mobile trading apps benefits:

  • you can open a trade with few clicks
  • different charts available
  • faster than competition and not freezing

3. Metatrader 4 (MT4) trading platform

Pepperstone offers the world’s most popular trading platform MT4 for Forex trading. Especially professionals appreciate the numerous settings options of The MetaTrader 4. Thanks to expert advisors (EAs), automated trading strategies can be easily created.

pepperstone mt4 trading platform review
MT4 trading platform

4. cTrader

You can trade with cTrader which in our opinion is not only more modern but also more user friendly than old fashion MT4.

Minimum Deposit

Pepperstone broker set the minimum deposit for all 3 trading accounts at $150 or 200 AUD.

Financial Instruments

Broker Pepperstone allows you to trade financial instruments via CFD contracts.

You can trade the following financial instruments with Pepperstone:

  • Forex – The company allows you to trade more than 70 currency pairs, including the popular EUR / USD, GBP / USD or GBP / JPY.
  • Commodities – With CFDs you can trade gold, oil, silver, coffee or sugar. In total, you can trade 11 commodities.
  • Indices – Enrich your investment portfolio with the S&P 500 stock index or the German DAX index. In total, you can choose from 15 stock indices.
  • Cryptocurrencies – slowly but surely becoming a fixed part of the offer of many brokers. Pepperstone allows you to trade CFD on
    • Bitcoin spreads average 10 Pip
    • Bitcoin Cash – spreads average 4 Pip
    • Ethereum – spreads average 2 Pip
    • Litecoin – spreads average 3 Pip
    • Dash – spreads average 3.1 Pip

Demo Account

It is possible to try first with $5000 virtual money on a demo account with all trading functions available. Traders use practice account for an unlimited period of time!

Pepperstone withdrawal 

Base account currencies

You can deposit into your trading account in one of the following currencies:


Deposit methods available

Minimum first deposit is currently $200 or its equivalent in other currencies.

Deposit method will in many cases depend on the country where you are located.

  • Bank transfer
  • BPay
  • China Union Pay
  • Credit/Debit Cards (Mastercard, VISA )
  • Fasapay
  • Qiwi
  • PayPal
  • Poli
  • Skrill / Neteller

We have used Skrill ewallet and the withdrawal was processed fine one the exact same day when we requested it through the platform. The money arrived on our Skrill account the next day.

We recommend to use either card payment or wire transfer since both are free of charge. Skrill will charge you an additional transaction cost 2.5%.

How To Open Pepperstone Trading Account

We found account opening process little bit faster when we compare it with competition. However due to a fact that this broker is regulated you must provide moreless the same information like elsewhere. It took us around 5 minutes to open an account, and hopefully it will take you the same amount of time.

  1. First you will be asked to create username and password
  2. Then confirm email address (this is important step)
  3. Set the account type and currency
  4. Complete the trading experience survey (required by the regulator)
  5. Once your account is approved by compliance, you can deposit
  6. Start trading!

Open FREE Demo Account


Trading Costs, Spreads 4.8
Trading platforms (MT4.MT5) 4.8
Customer support 4.8
Trading experience 4.8
Education for traders 4.8

Pepperstone is a reliable and regulated  Australian non-dealing desk forex broker.

We have to give the credit where it is due, during this test we have found out that they really deliver what is being said in marketing materials.

Pepperstone Markets Limited brand presents itself as a reputable brand and professional solution for people who want to trade foreign currencies blazing fast and at a lower cost. Thanks to their modern mobile trading app you can trade whenever you go and the free use of the demo account makes it risk free for anyone who just wants to try things out without risking a dollar.

We would recommend Pepperstone to those traders who seek high security, professionality and stability.

Risk Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail CFD investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.