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Broker review

Pepperstone

Pepperstone is a multi-asset CFD and FX broker known for tight spreads, fast execution and strong platform choice (MT4, MT5, cTrader & TradingView). This review is written for traders who want a clear, practical view – not marketing fluff.

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Pepperstone at a glance

Key facts based on Pepperstone’s public disclosures and independent info. Always double-check on their own site before you open an account.

Regulation Multi-jurisdiction – authorised and regulated by ASIC (AU), FCA (UK), BaFin (DE), CySEC (CY), DFSA (UAE), CMA (Kenya) and SCB (Bahamas).
Minimum deposit No formal minimum. Pepperstone does not set a hard minimum; many reviews use a practical starting point around 200 USD for most traders.
Account types Standard (spread-only, no FX commission) and Razor (raw spreads from 0.0 with commission per lot).
Platforms MetaTrader 4, MetaTrader 5, cTrader, TradingView and Pepperstone’s own web platform (desktop, web and mobile).
Instruments 1,200+ CFDs across FX (90+ pairs), indices, commodities, shares, ETFs, crypto and currency indices.
Typical FX pricing Razor: spreads from 0.0 pips on majors (EUR/USD) plus low commission per side.
Standard: commission-free spreads from around 1.0 pip on majors.
Max leverage Up to 30:1 in ASIC/FCA/ESMA-style jurisdictions; higher (often 400–500:1) via some offshore entities, depending on region and product.
Copy / social trading Supports copy trading integrations (e.g. via cTrader/MT) rather than a big in-house social platform.

Quick verdict

What Pepperstone does well

  • Very competitive FX spreads and overall trading costs, especially on Razor accounts.
  • Excellent platform choice – MT4/MT5, cTrader, TradingView and proprietary web.
  • Strong global regulation footprint with client money segregation and tier-1 banking partners.
  • No fixed minimum deposit, making it accessible for smaller or testing accounts.
  • Good execution statistics (high fill rate, low-latency fills) suited to active trading styles.

Where it’s less ideal

  • CFD-only – no true share ownership or long-term investment products.
  • Commission structure and symbol suffixes can feel complex for beginners.
  • Education is decent but not the deepest in the industry.
  • As with all CFD brokers, high leverage offshore amplifies both profits and losses.

Trading experience & costs

Pepperstone’s main strength is pricing. On the Razor account you get raw-style spreads from 0.0 pips on major pairs plus a per-lot commission. On the Standard account, there’s no commission and spreads start from around 1.0 pip on majors, which is competitive versus many mainstream CFD brokers.

Execution quality is also a selling point: Pepperstone quotes high fill-rate percentages and low average execution speeds, backed by a multi-LP model and no dealing-desk intervention. This makes it attractive for scalpers, algo traders and anyone who runs strategies sensitive to slippage.

Indicative FX pricing snapshot (Razor vs Standard)
Pair Razor (min spread) Standard (from)
EUR/USD 0.0 pips + commission ≈ 1.0 pip, no commission
GBP/USD From 0.4 pips + commission Typically around 1.3 pips
AUD/USD From 0.0–0.2 pips + commission Typically around 1.0–1.2 pips
Spreads are variable and change with market conditions, liquidity and time of day. Always check current, live pricing on Pepperstone’s own platform before trading.

Platforms & tools

Pepperstone supports almost every major retail trading platform: MetaTrader 4, MetaTrader 5, cTrader, TradingView and their own web platform. You can trade on desktop, browser and mobile, and algorithmic strategies (EAs, cBots, custom indicators) are well supported.

For traders who care about tools, this breadth is a big plus – you’re not locked into one platform or ecosystem and can mix charting on TradingView with execution on MT4/MT5 or cTrader.

Markets & products

Pepperstone offers more than 1,200 CFD instruments, including 90+ FX pairs, major and minor indices, commodities (metals, energies, softs), single-stock and ETF CFDs and a growing list of crypto CFDs. That coverage is more than enough for most active traders and system builders.

Regulation & safety (neutral in our rankings)

Pepperstone is regulated in multiple top-tier and mid-tier jurisdictions (ASIC, FCA, BaFin, CySEC, DFSA, CMA, SCB). Client money is held in segregated accounts with large, reputable banks, and the group promotes a relatively conservative approach to risk and operational controls.

Important: FXExact does not automatically rate ASIC-regulated brokers higher than offshore brokers or vice versa. We show regulation so you can see who you are dealing with, but our scores focus on trading conditions, platform quality and overall value – not licence type.

Funding & withdrawals

Pepperstone supports a broad set of funding options including cards, bank transfer and popular e-wallets (exact options depend on your country). Most methods have no deposit or withdrawal fee on Pepperstone’s side, although banks or intermediaries may charge their own fees for wire transfers.

Support & education

Support is available 24/5 across regions, with additional hours on weekends for some products. Reviews and awards often highlight Pepperstone’s service quality and local presence in several hubs. Education (guides, webinars, market commentary) is solid and structured, though not the very deepest in the industry.

Risk disclaimer: CFDs and margin FX are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail accounts lose money when trading CFDs with most providers. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Nothing on this page is personal financial advice.