Australian Securities and Investments Commission
Australia
License #414530
Pepperstone Review
Last updated: 7 Sept 2026
Available in United States
- Trading Platform Excellence
- Execution Excellence
Pepperstone is a well-regulated Forex and CFD broker with strong regulatory coverage, competitive pricing, fast execution and an excellent selection of trading platforms, including MT4, MT5, cTrader and TradingView. Its strong client protections and transparent operating structure make it a solid choice.
Pepperstone
Forex / CFDs
Est. 2010
Safety Score
- 24/5 multilingual customer support
- Competitive spreads and low commissions
- Advanced charting and technical analysis tools
- Copy trading or social trading features
Pros
- Razor account commission runs a flat $3.50 per side ($7 round turn), transparent and predictable regardless of instrument volatility
- Free VPS hosting removes a real cost barrier for algo traders who'd otherwise pay separately for low-latency hosting
- Islamic account available across Muslim-majority regions, with swap replaced by a clear administrative fee schedule
- Deposit and withdrawal options include Apple Pay, Google Pay, and cryptocurrency (USDT)
- Equity CFD commission is disclosed upfront and varies by underlying exchange, rather than being buried in spread
Cons
- TradingView commission runs slightly higher than MT4/MT5 or cTrader ($7 vs $6 round turn)
- Oil and other commodity spreads on Standard account are noticeably wider than forex majors, a cost that catches beginners off guard
Who Should Avoid This Broker
- Casual investors who trade infrequently and don't need Razor-level pricing or automation tools
- Traders who want a single all-in-one proprietary platform
Quick Stats
- Min DepositUnder $100
- Max Leverage1:500
- PlatformsOwn Proprietary Platform, cTrader, MetaTrader 5 (MT5), MetaTrader 4 (MT4), TradingView Web Platform
- Instruments1,731
- Support24/5
How This Broker Makes Money
- SpreadsFrom 1.0 pip
- Trading CommissionFrom $3.50 per lot per side
- Overnight FeesVariable
Regulation & Safety
Regulatory Status
Pepperstone operates through multiple regulated entities, including firms authorised by ASIC, FCA, CySEC, BaFin, DFSA, CMA and the SCB. The applicable regulator, licence, products and client protections depend on the specific Pepperstone entity serving the client.
Federal Financial Supervisory Authority
Germany
License #151148
Dubai Financial Services Authority
United Arab Emirates
License #F004356
Securities Commission of The Bahamas
Bahamas
License #SIA-F217
Financial Conduct Authority
United Kingdom
License #684312
Cyprus Securities and Exchange Commission
Cyprus
License #388/20
Client Fund Protection
Client funds held in segregated accounts, separate from Pepperstone's operational capital. Negative balance protection applies to retail clients. Coverage varies by entity, including the UK's FSCS scheme and the Cyprus Investor Compensation Fund for eligible clients.
KYC (Know Your Customer)
Government issued ID verification (passport, national ID), Proof of address (utility bill, bank statement), Selfie / biometric verification, Source of funds declaration.
Segregated Client Accounts
Client funds kept separately from broker's operational funds in top tier banks.
Leverage Restrictions - FCA - United Kingdom
GB FCA limits: 1:30 for major pairs.
Client Risk Profiling
Assessment of client's risk tolerance and financial situation.
Social Media Compliance
Monitoring of influencer/affiliate marketing content.
No Misleading Promotions
Ban on exaggerated return claims.
Tier 1 - Highest Trust Regulators
Tier 1 regulators are the most reputable and stringent financial authorities in the world, operating in major financial hubs such as the UK, USA, Australia, Germany, and Singapore.
Company Background
Pepperstone is a global Forex and CFD broker founded in Melbourne, Australia, in 2010. The group serves more than 900,000 traders and operates through multiple regulated entities across major jurisdictions. Depending on the client’s location, Pepperstone is supervised by authorities including ASIC, the FCA, CySEC, BaFin, DFSA, the Securities Commission of The Bahamas and other regulators. For EEA clients, Pepperstone EU Limited is regulated by CySEC under licence 388/20.
The broker provides access to more than 1,350 instruments, including forex, indices, commodities, share CFDs, ETF CFDs and cryptocurrency CFDs. Traders can choose between Pepperstone’s proprietary platform and established third-party platforms including MetaTrader 4, MetaTrader 5, cTrader and TradingView, with support for automated trading, advanced charting and API integrations.
Pepperstone is particularly focused on competitive pricing, fast execution and technology-driven trading. Client protections and available products depend on the legal entity serving the account, so traders should verify the applicable regulation, fees and account conditions before opening an account.
- Founded:
- 2010
- Headquarters:
- Melbourne, Australia
- Broker category:
- Forex / CFDs
- Number of Clients:
- 900,000+
- Monthly Volume:
- $680 billion+
Trading Costs
Spreads & Commissions
Costs and fees supplied by SafeGate Admin broker data.
EUR/USD
- Spread
- From 1.0 pip
- Commission
- $0
GOLD
- Spread
- From 0.14 pips
- Commission
- $0
OIL
- Spread
- From 0.03 pips
- Commission
- $0
DJ 30
- Spread
- From 1.0 pip
- Commission
- $0
Bitcoin
- Spread
- From 40 pips
- Commission
- $0
| Instrument | Spread | Commission |
|---|---|---|
| EUR/USD | From 1.0 pip | $0 |
| GOLD | From 0.14 pips | $0 |
| OIL | From 0.03 pips | $0 |
| DJ 30 | From 1.0 pip | $0 |
| Bitcoin | From 40 pips | $0 |
Non-Trading Fees
Inactivity Fee
No inactivity fee charged regardless of how long the account remains dormant
Deposit Fee
No fees charged by Pepperstone on deposits (third-party payment provider fees may apply)
Withdrawal Fee
No fees charged by Pepperstone on withdrawals (bank or payment provider fees may apply)
Account Fee
No fee to open a live or demo account
Custody Fee
Swap rates apply to positions held overnight, varying by instrument and direction. Islamic accounts are exempt
Currency Conversion Fee
Applied when trading instruments denominated in a currency different from the account base currency
Account Types
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Trading Experience
Trading Platforms
Trading platform, market access, execution, and order type coverage.
MetaTrader 4 (MT4)
Available on these devices
- Desktop
- Web
- Tablet
- Mobile
Automate your trading with advanced indicators, Expert Advisors and pattern-recognition software, supported by Pepperstone’s fast execution and razor-sharp FX spreads.
MetaTrader 4 (MT4) features
MetaTrader 5 (MT5)
Available on these devices
- Desktop
- Web
- Tablet
- Mobile
Discover MT4’s smarter, faster cousin. Upgrade to the apex in trading strategy and automation, with Pepperstone’s tight spreads and swift execution.
MetaTrader 5 (MT5) features
cTrader
Available on these devices
- Desktop
- Web
- Tablet
- Mobile
cTrader’s robust and feature-rich platform is where sleek design meets institutional-grade performance. Seamlessly intuitive for beginners, powerfully precise for professionals.
cTrader features
TradingView Desktop
Available on these devices
- Desktop
Combine TradingView's advanced charting tools and 100-million-strong social network,¹ with Pepperstone’s cutting-edge execution technology and competitive pricing.
TradingView Desktop features
Pepperstone Web Platform
Available on these devices
- Web
- Mobile
Trade the possibilities wherever and whenever, with Pepperstone's new trading platform. Find your next trade on-the-go with our evolving mobile experience designed by traders for traders.
Pepperstone Web Platform features
Available Instruments
Forex
95
Available
Stocks
1,401
Available
Crypto
52
Available
Commodities
33
Available
Indices
25
Available
ETFs
96
Available
Bonds
7
Available
Futures & Options
22
Available
Execution & Order Types
Execution Model
- Stp (straight through processing) / no dealing desk (ecn Like on razor)
Order Types
- Market Order
- Limit Order
- Stop Order (Buy Stop / Sell Stop)
- Take profit
- Stop loss
- Trailing stop
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Pepperstone
880/1000