This broker does not accept traders from United States.

Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.

CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
Demo Accounts: 
MetaTrader 4: 
MetaTrader 5: 
STP Account: 
ECN Account: 
DMA Account: 
Margin Trading: 
Social Trading: 
Copy Trading: 
Islamic Account: 
Min. Deposit$0
Min. Trade0.01 Lots
Regulated ByFCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
Mobile AppsiOS & Android


Pepperstone maintains its position as one of the fastest and most dependable CFD brokers during our latest round of testing. With execution speeds averaging around 30ms and an outstanding fill rate of 99.90%, the broker ensures a seamless trading experience without requotes or dealing desk interference. It also provides ample trading opportunities across over 1,300 assets.

FTSE Spread1.0
GBPUSD Spread0.4
Oil Spread2.5
Stocks Spread0.02
Leverage1:30 (Retail), 1:500 (Pro)


Pepperstone offers ultra-competitive forex spreads averaging 0.12 pips on EUR/USD in the Razor account, accompanied by a diverse portfolio comprising 100+ currency pairs - an extensive selection surpassing most competitors. Additionally, Pepperstone distinguishes itself by offering three currency indices (USDX, EURX, JPYX), not commonly found among alternative platforms. Pepperstone has now won our annual 'Best Forex Broker' award twice.

GBPUSD Spread0.4
EURGBP Spread0.4
EURUSD Spread0.1


Pepperstone continues to prove itself as one of the most trusted crypto brokers. Although its selection of digital tokens is average, you can trade popular cryptos like Bitcoin and altcoins like Ripple with up to 1:10 leverage, while its crypto indices provide a holistic view of the digital currency markets not found on most day trading platforms.

SpreadBTC 30, ETH 0

Pepperstone is a popular international forex and CFD broker offering a range of instruments and accommodating various trading styles, including swing trading and spread betting. Introduced in Australia in 2010, the broker offers world-class platforms such as MT4 and cTrader, catering to customers in the UK, Kenya, Nigeria, Germany and around the world.

This forex broker review will cover everything you need before you login and trade, including leverage, minimum deposits, withdrawal methods, fees and charges.

What Is Pepperstone?

Pepperstone Limited is an Australian broker, first established in 2010. After years of successful growth, the company is now one of the most popular brokers in the world, offering a range of instruments and assets such as forex, indices and stocks.

Operating under Pepperstone Group Ltd, its headquarters are located in Melbourne (Australia). The brokerage also has offices in the UK (London), the UAE (Dubai), Europe (Cyprus and Germany), the Bahamas and Kenya. The owner of the group is Owen Kerr.

Pepperstone Limited has secured high levels of regulation, with licenses in the UK (FCA), Europe/EU (CySEC and BaFin), Australia (ASIC), Bahamas (SCB), Dubai (DFSA) and Kenya (CMA). The group has over 55,000 clients in more than 65 countries and brings in an estimated annual revenue of $61.7 million.

Pepperstone caters for customers in many time zones, however, there are some countries where residents are not permitted to open accounts. Notable inclusions on this list are Canada, New Zealand, Japan, Hong Kong and the US, so if you live in any of these jurisdictions, you will not be able to open a live account.


There are a wide range of assets and markets available for swing trading. These include forex pairs, indices, ETFs and cryptos. It should be noted that options trading is not supported.

Assets available include:

  • Forex – Trade over 60 forex currency pairs at razor low spreads starting from zero pips.
  • Indices – Trade the most popular indices with tight spreads including the US 500 (S&P 500), US 30, HK 50 and Nasdaq 100.
  • Stocks & Shares CFDs – There are over 800 stocks available to trade as CFDs from the UK, US, Australian and German markets.
  • ETFs – Pepperstone allows users to invest in ETFs that track the performance of sectors including mining, energy and broader stock markets.
  • Commodities – Trade a range of commodities like gold (XAUUSD) and silver (XAGUSD) at competitive prices.
  • Currency Index – There are currency indices available for the US Dollar, Euro and Japanese Yen.
  • Crypto CFDs – There are also CFDs for a range of leading cryptocurrencies including Bitcoin (BTCUSD) and Ripple (XRPUSD).

Comparing Pepperstone vs competitors like IC Markets, IG, FXCM, eToro, XTB, Zulutrade, FXPro, XM and Oanda, the range offered is competitive and diverse.

Trading Platforms

Pepperstone supports both the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms as well as cTrader. All three are available as browser-based terminals (WebTrader) and as downloadable desktop software.

MetaTrader 4

Suitable for both novices and pro traders alike, MetaTrader 4 offers an easy-to-navigate platform following client login, with intuitive and customisable features. Traders can access a range of helpful tools to help analyse historical data, check charts and to follow the news.

Key features include:

  • 85 pre-loaded indicators plus 28 Smart Trader Tools
  • Multiple chart setups in customisable windows
  • Analyse market movements with Autochartist
  • Flexible order types to suit various strategies
  • Back testing facility for Expert Advisors
Pepperstone trading platforms

MetaTrader 4

MetaTrader 5

The MetaTrader 5 platform is the full package for more seasoned traders. The advanced trading capabilities make MT5 an ideal choice for swing traders, spread bettors, scalpers, long-term investors and more, with benefits including:

  • 38 pre-included indicators plus access to Smart Trader packages
  • Maximum 500 total orders, plus advanced pending orders
  • 21 chart timeframes and built-in economic calendar
  • Optimised processing of Expert Advisors
  • Ability to hedge your positions quickly
Pepperstone online trading reviews

MetaTrader 5

You can download both the MetaTrader 4 and MetaTrader 5 platforms for free on Windows and Mac PCs.


Pepperstone’s cTrader platform is designed to replicate an institutional trading environment. The platform features depth of market, advanced risk management, plus platform customisation with cTrader Automate. CTrader is coded in the C# programming language and also allows users to access FIX API.

Pepperstone PC trading


Mobile App

Pepperstone does offer mobile trading apps for those who want to trade on the move. iPhone and Android users can download the MetaTrader 4 and 5 apps or use the cTrader mobile trading application. Each of these is fully functional, allowing customers to open and close trades as well as track and analyse the market.

Pepperstone Account Types

Pepperstone provides a choice of two accounts for traders: the Edge Standard Account and the Edge Razor Account. Both accounts have a minimum lot size of 0.01 and a maximum size of 100 lots. Both allow expert advisors, scalping, hedging and copy trading, and there is no minimum deposit for either. The leverage offered is also the same on both accounts.

Pepperstone’s Standard Account features spreads starting from 0.6 pips and no commission on trades. This account is recommended for new traders. The Razor Account is more suited to professional traders, scalpers and algorithmic traders. This account features spreads starting from zero pips and a commission of £4.59 per trade.

Muslim traders can open an Islamic-friendly account. This account is swap free and complies with Sharia law.

Accounts can be opened in a range of base currencies including USD, GBP and CHF. At this point, it is not possible to open a ZAR account. Partners can also open a joint Pepperstone account by completing the required documentation.

Demo Account

If you are a new customer, demo accounts provide a great way to get to know a new broker and platform. Pepperstone offers a demo account that is simple to sign up for and compatible with all trading platforms. It allows users to gain experience in forex trading with leverage as well as learn about terminologies such as margin calls and minimum lot size.

The practice trading account is available for 30 days and users receive £50,000 in virtual funds.


Pepperstone offers leverage up to a rating of 1:30 for retail clients and up to 1:500 for professional affiliates. 1:30 leverage means a user can put down £10 and trade with £300. But while this can increase winnings, it also increases losses so caution must be taken.

Commission, Fees & Spreads

Pepperstone offers low trading fees. There is no inactivity fee or withdrawal cost when trading with the broker, however, overnight swap rates are charged. It is possible to trade with zero spreads and a commission of £4.59 per trade on the Razor Account.

Typical spreads on the Standard Account are:

  • EURUSD – 0.69
  • GBPUSD – 0.88
  • EURGBP – 1.27
  • FTSE 100 – 2.0
  • Bitcoin – 33.97
  • Silver – 1.09
  • Crude – 2.3
  • Gold – 0.13

Typical spreads on the Razor Account are:

  • EURUSD – 0.09
  • GBPUSD – 0.28
  • EURGBP – 0.27
  • FTSE 100 – 2.0
  • Bitcoin – 33.97
  • Silver – 1.09
  • Crude – 2.3
  • Gold – 0.13


Pepperstone has no minimum deposit and there is no charge per deposit (although charges may be incurred via the chosen method). Deposits are typically processed instantly and they are made using a secure client login. Contacts in Kenya should note they cannot deposit via MPesa.

Deposits can be made by the following methods, among others:

  • Debit/credit card (Mastercard)
  • Debit/credit card (Visa)
  • Bank transfer
  • Neteller
  • PayPal
  • Skrill

There is no minimum withdrawal amount and no withdrawal limit. There is also no withdrawal fee. Typically, withdrawals are processed within one to three working days and can be made via the same methods as deposits.

Pepperstone Regulation

When it comes to regulation, Pepperstone outperforms many of its competitors, with prestigious licensing from a range of global top tier bodies.

Pepperstone holds a license in Australia with the Australian Securities and Investments Commission (ASIC), as well as the Bahamas with the Securities Commission of The Bahamas (SCB).

In Europe, it holds a license in the UK with the Financial Conduct Authority (FCA), Germany with the Federal Financial Supervisory Authority (BaFin) and Cyprus with the Cyprus Securities and Exchange Commission (CySEC).

Further afield, Pepperstone is licensed by the Dubai Financial Services Authority (DFSA) the Capital Markets Authority (CMA) of Kenya.


The broker works to ensure there are no data breaches and that personal information is consistently protected. Customers have the option of turning on two-factor authentication (2FA) for the login process.

Pepperstone is also committed to protecting users’ funds. UK and EU clients are offered negative balance protection. However, this is not extended to customers outside of the EU and UK. There is also no guaranteed stop loss.

User Reviews

With over 1,300 reviews on Trustpilot, Pepperstone boasts an average ‘Excellent’ rating of 4.7. Clients were particularly impressed with the broker’s prompt customer service, low spreads and reasonable fees. The broker’s cTrader mobile app has also been received well, with an average rating of 4.5 on the App Store. You can also find generally positive feedback on popular trading sites and social channels such as Reddit.

Additional Features

The brokerage is packed full of additional features to improve the trading experience. Here are some of our favourites:


Pepperstone offers a wealth of educational material to help you understand the trading world. These cover all sorts of topics such as guides to forex and CFD products. Information is provided via journals, articles and webinars and it saves you from having to delve through YouTube to learn important information.

Additionally, Pepperstone provides an FAQ section that comes in handy should you encounter any withdrawal problems, or issues where your account is not working or trade is disabled. If you want to know how to change leverage on Pepperstone, the FAQ page is the place to look.

Research Amenities

Pepperstone provides its users with high-quality research and trading tools. Customers can access TradingView charts to check current market trends. They can also view an economic calendar as well as market news to stay up to date with current events. The broker also supports the Volatility 75 Index (VIX 75) which measures the volatility of indices.

Customers can link their Autochartist account to their Pepperstone account and save time searching for opportunities, and there is even the option to sign up for the latest tick data.

Pepperstone AutoChartist


VPS & Social Trading

Pepperstone supports a range of VPSs, some of which are free. These allow traders to run algorithmic trading strategies 24/7, ensuring no trades are missed. Automated social trading is also made possible through Duplitrade.


We’ve summarised a few key benefits of trading with Pepperstone:

  • Regulated by multiple top-tier bodies
  • No deposit and withdrawal fees
  • Range of platform offerings
  • Great customer service
  • Tight spreads
  • Secure login


Our research did flag some potential drawbacks of trading with Pepperstone:

  • Does not accept US clients
  • No guaranteed stop loss
  • Mostly CFDs offered
  • Overnight fees

Pepperstone Customer Support

Customer support is vital when you are swing trading with any broker and Pepperstone is no different. Should you encounter any issues, such as the account stating, “only position closing is allowed”, or you simply want to delete your account, you must be able to easily find a contact number or method. The broker can be contacted via the following methods:

  • Non-UK number – +44 (800) 0465473
  • UK phone number – 0800 046 5473
  • Email –
  • Live chat broker’s homepage

Pepperstone can also be found on social media sites like Instagram, Twitter and Facebook.


Pepperstone does not offer any no deposit bonus or any such promotions. This is in keeping with EU law and ensures they comply with all regulations. Nonetheless, the broker does run an Active Trader Program, allowing traders to earn cash rebates based on their trading volume.

Trading Hours

Trading hours vary between the different assets traded. Stocks, commodities and ETFs are available when respective markets are open for trading, while cryptocurrencies are available to trade 24/7. Forex assets trade during the standard forex trading session. This runs from Sunday at 22:00 GMT, to Friday at 22:00 GMT. During this time, forex instruments can be traded 24 hours a day.

Pepperstone Verdict

Pepperstone is a popular forex and CFD broker. It provides access to a range of markets and instruments that are perfect for swing trading with low spreads, guaranteed to entice even the most experienced trader. With high levels of security, great customer support, competitive fees, and a range of user-friendly trading platforms, Pepperstone provides the complete package.


Is Pepperstone A Good Forex Broker?

Our research uncovered multiple benefits of trading with Pepperstone. The broker has long been a popular choice among international traders, offering competitive pricing on a range of assets, high levels of security and robust regulatory oversight.

Is Pepperstone A Market Maker?

Yes, Pepperstone is a market maker. As a result, it provides smaller minimum trade requirements, no minimum deposit and the option to pay zero commission on trades.

Is Pepperstone A True ECN Broker?

No, Pepperstone is not a true ECN broker. However, its infrastructure allows for execution speeds equal to an ECN broker, making it a strong contender among some of the top brands.

Is Pepperstone A Scam?

Caution should be taken when trading with any online broker, Pepperstone included. However, based on positive reviews on Trustpilot and Reddit, as well as multiple global licenses, the broker appears relatively safe.

Does Pepperstone Offer A Demo Account?

Yes, Pepperstone offers a free demo account. The account is available for 30 days after opening and comes with £50,000 of virtual funds. Demo accounts are ideal for new traders looking for an introduction into practical trading, or experienced investors looking to polish their trading strategies.