Pepperstone Review For 2021

Pepperstone logo 155x83px
  • Operating Since: 2010
  • Leverage: 500:1
  • Spreads: Variable
  • Commission: $0 – $3.50
  • Platforms: MT4, MT5, cTrader
  • Min. Deposit: $200
  • Regulations: ASIC, FCA, BaFin, CMA, CySEC, DFSA, SCB
  • Markets: Indices, Bonds, Forex, Crypto, Shares & Commodities

Pepperstone Review: Summary

Launched in 2010 and initially focusing solely on the Australian FX market, Pepperstone has grown to become one of the top 10 FX brokers in the world (based on trade volume – c., $110 billion per month).

How have they grown so quickly? Well, their offering is pretty darn good! Not only are they a well-regulated, well-known and well-regarded broker, they also have a very good product offering to back it all up. Their FX spreads are some of the tightest we have seen, the ECN trading environment is fast and accurate, the range of platforms is generous and the wide variety of instruments to trade is perfect.

Pepperstone has also expanded its range of products to cater for a wider global audience. They used to focus on FX markets only, however they now offer DMA CFDs on indices, commodities and cryptocurrencies. Please note, Pepperstone do not offer a wide-range of equity CFD trading on their system.

Overall, Pepperstone are a superb option if you are looking to trade the world’s financial markets using tight, variable spreads starting at 0.1 of a pip (Razor account). However, let’s look at them in more detail – please read on!

The Pros of Trading with Pepperstone

Widely regulated and reputable company

Negative balance protection for retail clients

Low variable spread forex broker.

High leverage of 500:1 (non UK and AU clients)

Award-winning broker in several categories

Offers two of the world’s most popular platforms, MT4 & cTrader

Wide range of funding methods

The Cons of Trading with Pepperstone

Small stock CFD offering

Only 180 trading products

Variable spreads only

What Can You Trade with Pepperstone?

  • Indices

14 major global index CFDs, including the ASX 200, German 30, HK50, JPN225, NAS100, UK100, Wall St 30 and the US500.

  • Forex

Trade over 60 currency pairs, including all majors, most minors and quite a few exotics: EUR/PLN, SEK/JPY as an example.

  • Crypto

Pepperstone have five cryptocurrencies listed on their platforms; Bitcoin, Bitcoin Cash,  Ethereum,  Dash and Litecoin.

  • Commodities

Trade five soft commodities (Coffee, Sugar, Cocoa, Cotton and Frozen Orange Juice), seven metals (including Gold, Silver and Platinum) and three oil products WTI crude oil, Brent Crude oil and Natural Gas).

  • Stocks

Access a few hundred stocks from Australia, Germany, the UK and the US.

Are Pepperstone Regulated? 

Pepperstone must be one of the most regulated online brokers out there, with at least seven licences under their umbrella as at May 2021. Here is a list of their current regulations:

  • Australian Securities and Investments Commission in Australia (AFSL No.414530);
  • Financial Conduct Authority (FCA) in the UK (registration number: 684312);
  • Dubai Financial Services Authority (DFSA);
  • Securities Commission of The Bahamas (number 177174 B);
  • Cyprus Securities and Exchange Commission (CySEC);
  • BaFin in Germany (licence number 151148);
  • Capital Markets Authority (CMA) in Kenya.

Pepperstone Review: Account Types

There are four main Pepperstone account types, these can be seen here;

  • Edge Standard Account

Pepperstone’s Edge account is its most common account used, with a minimum deposit size of AUD $200, $0 commission and spreads starting from 1 pip. The minimum trade size is 0.01 lots.

  • Razor Account

The Razor account was created for scalpers and algorithmic traders, who are looking for spreads from 0 pips but are happy to pay a small commission of USD $3.50 commission per lot (per leg). The minimum deposit requirement for this account is again AUD $200.

  • Edge Swap Free

This is an account for Islamic traders who do not wish to pay any swap or overnight financing fees. Spreads start at 1 pip and there is $0 commission added on this account.

  • Edge Active Traders

This account is for high net worth traders who trade a lot of volume in a month, and that is why they can get an up to 10% rebate. Commission is $3.50 per lot, per leg and spreads start at 0 pips.

Pepperstone’s Spreads

This online broker offers low, variable spreads (and low, or no commissions) across most of its trading instruments. The spreads will obviously vary depending on which account type you go for, Razor or Standard Edge.

Here are the spreads for some of their most popular markets:

  • EUR/USD: average of 0.09 on Razor, and 0.75 pips on Standard account.
  • AUD/USD: average of 0.17 on Razor and 0.85 on Standard.
  • Wall St 30: minimum 2.4 points;
  • UK100: minimum 1 point.
  • German 30: minimum 1.2 points.
  • Gold: minimum 5 points.
  • Silver: minimum 5 points.
  • Bitcoin: average spread of 53.12 points.

Pepperstone Trading Platforms

When trading with Pepperstone, you really are spoilt for choice, with a wide variety of top-class platforms to choose from. All platforms are available on Windows & Mac for desktop (downloadable), iPhone and Android for mobile/ tablets, and on their web application, WebTrader.

MetaTrader 4

With Pepperstone, you can trade on the world’s most popular trading platform, MT4. It has been designed to provide fast execution, live quotes, best pricing, real-time charting and an overall excellent trading experience. Customise the platform to your trading style, add EAs and advanced indicators, all with low variable spreads and commission.

MetaTrader 5

MT5 is MetaTrader’s most recent release of its powerful MT4 platform. Pepperstone offer this platform due to its faster execution times, better functionality (than MT4), new & improved hedging functionality and its range of add-ons.


Many of Pepperstone’s clients use their cTrader system and it is easy to see why –  an institutional-like trading experience, tight spreads, fast execution and  enhanced trading features, with the ability to customise the trading platform interface.

Pepperstone Review: Customer Support

Without doubt, Pepperstone offer one of the best customer support teams in the entire online broking industry. This can be proven by the number of customer service awards they have received over the years.

The Pepperstone customer support team provide a 24/5 service and they are available via phone, live chat and email. What’s more, their support team can speak or write to you in twelve different languages.

Pepperstone have won many customer service awards over the past 10 years and these can be seen here.

Deposits & Withdrawals with Pepperstone

You can deposit funds into your Pepperstone trading account in a number of ways. Including, via bank transfer, credit card, debit card, Paypal, Neteller, Skrill, BPAY, POli and Union Pay. Deposits are very often instant, although bank transfers typically take a few days to clear.

All withdrawals are sent back to source to comply with global AML requirements. This means that any withdrawals will go back to where you made the original deposit from. Withdrawals can take up to 5-10 business days to be returned and Pepperstone do not charge any fees to deposit or withdraw funds.