Pepperstone Review

Pepperstone is an Australian Forex broker founded in 2010 which has enjoyed a remarkable growth rate since its founding.

In less than a decade, it grew its client base to over 57,000, with an average daily transaction size of $12.55 billion. Tight spreads and fast execution speeds make this broker an excellent choice for scalpers and automated trading solutions. Over 150 assets are available from three trading platforms, regulated by industry heavyweights- ASIC in Australia and the FCA in the UK. With numerous global awards, this broker possesses the proper fundamentals to further increase its market share. Pepperstone will achieve this through the noted scale of a fintech company and the agility of a startup.


Current Licenses:

Pepperstone Group LTD is the Australian entity, authorized and regulated by the Australian Securities and Investments Commission (ASIC), under ABN number 12 147 055 703; the license was granted on October 27th 2010. 

ASIC regulation allows this broker to remain ahead of its global competition as it avoided mistakes of its counterparts, maximum leverage remains capped at 500:1*

*Up to 200:1 for retail clients and up to 500:1 for elective professional client

As an ASIC regulated entity, this broker is additionally protected by the Act of Grace mechanism under section 65 of the Public Governance, Performance and Accountability Act 2013. The Scheme for Compensation for Detriment caused by Defective Administration (CDDA Scheme) further protects traders from damages, which are highly unlikely given the deep foundations of Pepperstone.

Pepperstone LTD caters to UK and EEA traders. This entity is authorized and regulated by the Financial Conduct Authority (FCA) under registration number 684312; it was granted on May 8, 2015. 

Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B) and licensed by the Securities Commission of The Bahamas (number SIA-F217)


Pepperstone is a very well established and highly reputable online trading brokerage that has been providing traders around the world with reliable investment and trading services for over 10 years. Pepperstone is NDD (No Dealing Desk) it means there isn’t any sort of intervention between the client and the market. Therefore, clients are trading directly with the real interbank forex market which provides a great deal of transparency and reliability. As well, Pepperstone undergoes periodic independent audits to ensure the brokers’ reliability, transparency, and compliance with regulations. All in all, Pepperstone is one of the most trusted and reliable online trading brokerages available.

Trading Platforms

Meta Trader 4 (MT4)

The Pepperstone MT4 trading platform is designed to give you the edge in today’s busy trading environment with live quotes, real-time charts, in-depth news and analytics, as well as a host of order management tools, indicators and expert advisors. Available for Mac, Windows, mobile, tablet and via WebTrader, you can enjoy the freedom to trade your way. 

Meta Trader 5 (MT5)

With faster processing times, the newly released ability to hedge your positions, advanced pending orders and the newest tools and indicators to help you take your trading to the next level, MT5 provides exceptional features to help you stay ahead of the markets.


Why choose cTrader?

cTrader is an intuitive and easy-to-use platform with advanced trading capabilities such as fast entry and execution and coding customisation, as well as plenty of education and analysis to help you make better trading decisions.

  •  Perfect for those getting into trading 
  •  Designed to replicate an institutional trading environment including depth of market 
  •  Control order fills with advanced cTrader features 
  •  Advanced risk management and order functionality 
  •  Coding in C# and open API available 
  •  Optimised processing of expert advisors and indicators 
  •  Advanced platform customisation with cTrader Automate (formerly cAlgo)

Trading Account Types

Account types: Pepperstone offers two pricing models depending on the account type you open, ranging from the commission-based Razor Account to the Standard Account, which incorporates commissions into the prevailing spreads. Fees can also vary slightly, depending on the platform you choose to trade.

Razor Account: The Razor Account can be used with either the MetaTrader (MT4) or cTrader platforms and follows a commission-based pricing structure in addition to prevailing spreads. Average spreads of 0.16 pips on the EUR/USD in the Razor Account are comparable to industry peers when factoring in the commission of 0.753 pips to calculate the all-in cost of 0.91 pips on MT4 (or 0.86 pips on cTrader)

Standard Account: The standard account is commission-free but has higher spreads instead and is not as competitive as the Razor Account, as average spreads on the EUR/USD are 1.16 pips, according to Pepperstone.

  •  Minimum 0.01 lots trading size 
  •  Maximum 100 lots trading size 
  •  Available leverage up to 500:1 
  •  AUD$200 minimum account opening balance 
  •  Base currencies available: AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD and HKD 
  •  Scalping allowed 
  •  Expert advisors allowed 
  •  Hedging allowed 
  •  News trading available 
  •  No dealing desk execution

Deposit fees and options

Pepperstone charges no deposit fees. There are multiple options for deposit:

  • Bank transfer
  • Credit/debit cards
  • PayPal
  • Neteller
  • Skrill
  • POLi
  • BPay
  • Union Pay

Withdrawal fees and options

You can withdraw your money at Pepperstone free of charge to credit/debit cards and electronic wallets.

Bank transfer withdrawals are also free in the EU and Australia, but cost $20 for clients in other countries. Skrill and Neteller withdrawals cost $1.

Customer Support

One of the things Pepperstone excels in is their exceptional level of customer support. Since Pepperstone is an international online trading brokerage, they provide multilingual support to their clients 24 hrs a day, 5 days a week. The support methods available to traders include live chat, email, telephone, and through the brokers’ various social media channels. Additionally, traders can find loads of helpful information on the websites extensive FAQ page and education center.

Pepperstone Q&A 

Find out everything you need to know about opening an account or view commonly asked questions about managing your existing trading account.

Click here for Frequently Asked Questions


After reviewing Pepperstone, we have come to the conclusion that this broker lives up to the hype and is a great option for traders. Pepperstone covers everything an expert Forex/CFD trader could possible need. From the above-detailed MAM/PAMM accounts, to EAs and VPS hosting, and a truly impressive selection of trading platforms, it does indeed have all the bases covered. Its trading conditions are great. Overall, Pepperstone is a viable online trading solution that’s suitable for nearly every type of trader.

Full risk warning: Between 74-89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

This review has been conducted independ- ently. Products included on this site may not suit your personal objectives, financial situation or needs. Please consider whether it is appropriate for your circumstances, before making a decision to purchase or apply for any product. If you are considering acquiring any financial product you should obtain and read the relevant Product Disclosure Statement or other offer document prior to making an investment decision. Pepperstone IB number: 36778