Pepperstone Broker review


    • Special Accounts for Professional & Institutional Traders
    • Extremely Well regulated
    • Zero commission account
    • Client funds in segregated accounts with tier 1 banks


4.6/5 ratings

  • Spreads
  • 0.17
  • No of Users
  • 300,000+
  • Min. Deposit
  • 0
  • Regulation
  • ASiC,FCA
  • Max Leverage
  • 30:1

Risk Warning: 78% of retail investor accounts lose money when trading CFDs with this provider.

Introduction to Pepperstone Markets

Pepperstone is one of the leading Australian forex brokers today offering a great platform for trading CFDs, Forex, Cryptocurrencies & Commodities. PepperStone, like many other online brokers in the market, offers a demo account to practice and familiarise yourself with their platform. However, If you're starting out you could consider opening a real live account, the minimum deposit required is $200.

Pepperstone is a foreign exchange broker that was established in 2010. Its headquarters is located in Melbourne, Australia, but it provides services worldwide. It is regulated and authorized by the Australian Securities and Investments Commission (ASIC) to ensure the security of its customers’ investments. Since its founding, Pepperstone has grown steadily; they now have clients from over 155 countries around the world. In addition, Pepperstone also holds licenses with additional financial regulatory bodies in different countries; these include the Financial Conduct Authority in the UK, the Financial Services Board in South Africa, and the Australian Securities & Investments Commission of Australia. With its reputation for transparency and a wide range of excellent services offered, it's no wonder that Pepperstone continues to grow at an impressive rate each year. Clients benefit from award-winning customer service, low fees and, excellent technology - making Pepperstone an ideal choice for novice and experienced traders alike.

Risk Warning: 78% of retail investor accounts lose money when trading CFDs with this provider.

You should consider whether you can afford to take the high risk as your capital is at risk.

Spreads & Fees

A ‘Spread’ or otherwise known ‘Bid/Ask Spread’ is the measured difference between the buy and sell price quoted for any trading instrument: whether it be a Forex currency pair, Commodity (Crude Oil), precious metals (Gold), Indicies, Stocks and Crypto (Bitcoin & Ethereum). It can be interpreted as the cost of trading charged by the broker to traders. 

Pepperstone, along with the majority of the CFD & Forex brokers charge a spread to their clients and that is the reason why a majority of traders choose a broker with low spreads. Spread is reported in PIPs or known as basis points. Spreads can be calculated by spread value in pips × traded lot size. 

The graphical illustration shows the comparison of how Pepperstone spreads stacks against the combined average spreads of all other established brokers featured on ekzaga.

Forex Spread is the difference between the buy and sell price of a currency pair. For example, if EUR/USD is trading at 1.1150/1.1151, then the spread is 1 pip. Th. When choosing a Forex broker, it is important to compare the different types of Forex spreads that they offer in order to find the best one for your trading needs.

As you can see Pepperstone’s forex spreads are fairly competitive versus its direct competitors, especially highlighting that its fixed spread has always been in a consistent range. Pepperstone won’t disappoint as their fixed spreads don’t fluctuate much even during uncertain market conditions. This is our recommended and one of the best forex brokers for beginner traders. 

Although, Pepperstone’s spread is in the competitive range their individual account offering is what gives them an advantage e.g. their Razor Trading Account offers a fixed commission of AUD$3.5 for every 100k (Standard Lot) traded with very low spreads ranging from 0~0.8 pips. It’s very competitive against other brokers when it comes to trading Crude Oil. If you’re thinking about Scalping (HFT Trading) and placing multiple trades per day (Intense Intraday Trading) then we recommend you go with the Razor Forex Trading Account as it has true ECN forex broker features. Spreads is generated by close to 22 banks and electronic crossing networks (ECNs), making it one of the best low spread Forex brokers in Australia. (See Illustration below) 

Risk Warning: 78% of retail investor accounts lose money when trading CFDs with this provider.

You should consider whether you can afford to take the high risk as your capital is at risk.

Spread vs Trader

  • Scalping
  • Intraday Trading- <10 Trades
  • Intraday Trading- 10+ Trades
  • Swing Trading
  • Long Term Trading



Overall Trust Score AA+A-
Years Established 12+ 20+ 14+
Regulatory Authority ASiC,FCAFCACysec,FCA
Why Choose?
  • Spreads offered from 0.0 pips
  • Regulated by FCA & ASIC
  • Award Winning Customer Support
  • Most exponential grown CFD broker

  • Over 525,000 customers trust XTB

  • 5-star Rating on Trust Pilot

  • Segregated accounts
  • Powerful and user-friendly trading app
  • Superior customer service

Trading Platforms

Pepperstone is perhaps one of the best online trading platforms with a wide range of trading options to choose from. Whether you prefer the convenience of web-based trading or are an aficionado of mobile trading apps, you can expect excellent support and top-notch security for your investments. They offer a range of mobile trading apps across iOS, Android, and Windows devices. Trading on Pepperstone's platform is extremely simple, even for new traders. Pepperstone provides some of the best and most convenient trading platforms. that makes it incredibly easy to trade. Pepperstone offers its clients aces to four of the major platforms, TradingView, MetaTrader 4/5, and cTrader. Whichever trading platform you prefer to trade from most likely Pepperstone has that particular choice.

Pepperstone offers webtrading services for both beginner and professional clients. Many traders do not like the idea of downloading the MetaTrader 4/5 platform on their devices so therefore they can trade directly via web link:

  1. Pepperstone Webtrader: More suitable for beginner traders
  2. Pepperstone cTrader: Suitable for Pro traders who can take advantage of advanced charting, excellent spreads, bespoke indicators, and pre-sets. The cTrader broker platform is also available for mobile trading.  

Platforms Offered

  • WebTrader
  • MetaTrader 4
  • MetaTrader 5
  • Android App & Tablets
  • cTrader
  • Apple App & Tablets

Accounts Types

  Edge Standard Edge Razor
Min. Deposit $200 $200
Trading Instruments ✓FX ✓Metals ✓Shares✓Indices ✓Commodities  ✓FX ✓Metals ✓Shares✓Indices ✓Commodities
Commission Zero  $3.50 per Lot Trade
Platform TradingView/MT4/MT5/cTrader TradingView/MT4/MT5/cTrader


Pepperstone is a well-regarded Forex and CFD broker that offers its clients a variety of different trading accounts. Firstly, they offer two standard trading accounts: the Standard Account and the Razor Account. The difference between these two is primarily in the fees and spreads charged by Pepperstone to carry out trades. The Standard Account tends to be slightly more expensive but also offers more instant execution opportunities as opposed to the Razor account which looks for the best price available over a certain period of time.

Pepperstone Edge Razor is suitable for those traders looking for tight spreads, with an average spread on EURUSD of 0 to 0.3 pips. This particular account is best for scalpers and algorithmic traders. Pepperstone’s Edge Standard is a zero-commission account, although the spreads are slightly higher in comparison to the razor account. Nevertheless, the spreads are still relatively tight. The average spread on EURUSD is 0.8 pips. This account may be more suited to traders who are new to the world of trading. Whatever your preference is when looking at trading be it tight spreads or zero commission on trades, Pepperstone has an account for you to meet your requirements.

Additionally, Pepperstone does offer an Islamic Account for those who wish to trade in compliance with Sharia Law. This works much like any other account except no interest or overnight fees will be charged on any positions held overnight. This makes it a great option for traders who wish to practice ethical and religious trading without having to worry about additional charges being applied along the way.

Account Types Offered

Demo Micro Standard VIP Islamic Zero Spread Managed

Deposit & Withdrawal

Deposit Method


  Base Currency Fees/Commission Processing Time
Credit Cards
Visa USD, EUR, GBP, CHF zero Instant
Mastercard USD, EUR, GBP, CHF zero Instant
Paypal USD, EUR, GBP, CHF zero Instant
Bankwire USD, EUR, GBP, CHF zero 1-3 working days


Withdrawal Methods

  Base Currency Fees/Commission Processing Time
Credit Cards
Visa USD, EUR, GBP, CHF zero 1 - 3 working days
Mastercard USD, EUR, GBP, CHF zero 1 - 3 working days
Paypal USD, EUR, GBP, CHF zero 1 - 3 working days
Bankwire USD, EUR, GBP, CHF zero 1-3 working days


Depositing funds with Pepperstone is an easy and safe experience for clients. Pepperstone fund protection protocol verifies the authenticity of client deposits so you can be confident your account is secure.  All deposits are held in segregated accounts with Tier-1 banking institutions, ensuring that your funds are safe at all times.

Depositing funds usually occurs within minutes, however, there may be additional processing time required from your financial provider or card network provider, usually up to 24 hours. Pepperstone doesn’t charge any fees when depositing money into an account. Withdrawals also have zero fees and have a fairly quick turnaround as payments are generally made within 1-3 business days direct to your bank account or credit/debit card, depending on the withdrawal method used; they offer Flexible withdrawal options that include Bank Wire Transfers Credit/Debit Card and Paypal.

Client Fund Protection

Being one of the ASIC-regulated forex brokers, they guarantee the security of customers' (Traders) funds through strict rules and regulations. Pepperstone separates the deposit from merchants and company funds. All fund operators are deposited with National Australia Bank. The bank holds assets under the management of more than 600 billion Australian dollars. This ensures high deposit security.

In addition, in 2016, the value of the company indicated an annual growth of 20% with a monthly transaction exceeding $ 100 billion. These reports listed the company with average revenue of $ 60 million and a number-one ranking according to BRW Fast Starters. In 2014, the company had to stop accepting Japanese customers after an investigation by ASIC, which indicated the absence of the JFSA.


Deposit Methods

  • Visa Debit
  • Visa Credit
  • MasterCard
  • Skrill
  • Neteller
  • Bank Transfer
  • Paypal

Unique Features

Pepperstone on its website has a fairly in-depth educational section for beginners and more experienced. There are articles based on all aspects of trading explaining everything. There are webinars that take place on a regular basis, including past video webinars. They have videos and articles based on different trading strategies whether it be day trading or scalping. They have courses on how to use and get yourself familiarized with Metatrader amongst a host of other things related to trading.

Pepperstone also offers Social trading through Duplitrade. Traders can copy trades from other traders and automate trading systems. Duplitrade uses signals from proprietary traders, tapping into their expertise, which lets you build your trading knowledge and gain a key understanding of pro techniques. However, their certain terms and conditions should traders want to sign up for this one is a minimum deposit of $5000 is required.

Customer Support

While safety is of paramount importance to Pepperstone, the professional attention with which the company's customer service deals with customer questions and doubts is also paramount. Pepperstone offers excellent customer service, available around the clock in several languages. Their customer support is offered 24 hours a day, 5 days a week in multiple languages via email, live chat and telephone. Customers can also access their website in multiple languages including French, Spanish, Italian, Arabic and German - with additional language versions available upon request. The customer support team consists of multi-lingual experts who are able to provide prompt responses to queries with response times typically under 5 minutes for live chat services.

Furthermore, Pepperstone takes complaints very seriously and has developed a dedicated complaints process that is independent of the operating company to ensure complete impartiality and fairness when dealing with issues or disputes.


Pepperstone is a great platform that offers enhanced and developed forex trading technology called. ‘EDGE’, their award-winning active customer service, and low spreads make their services very competitive on the current market against other top CFD & Forex Brokers. If you’re a beginner or professional trader that is thinking reliability, trust and transparency then Pepperstone fits all those criteria.  

We here at Ekzaga think Pepperstone is a worthy choice as your next forex broker. They cover all aspects that a potential customer should look for when choosing a forex broker. They are extremely well regulated by top-tier regulatory financial bodies such as FCA and ASIC as well as many more. Client funds are deposited in separate bank accounts with top-tier banks ensuring safety of your funds. Whether you are a novice or a more seasoned trader they have an account for you. Whether you are looking for tight spreads or zero commission accounts they have both of these options covered. They offer multiple different popular platforms. Pepperstone adopts a holistic approach towards trading to help traders achieve success; providing them with useful insights and access to necessary tools and resources. Choosing Pepperstone would be a wise choice indeed whether you are a beginner just making your first steps into the world of trading or a more seasoned trader. Pepperstone is without a doubt a very good broker.