Pepperstone Review 2023

Written By
Written By
Rebecca Holden
Rebecca is a freelance investment writer and broker analyst. She has evaluated dozens of brokers and trading platforms. Rebecca formerly worked in e-commerce where she helped grow the online presence of some of the UK's largest brands.
Edited By
Edited By
James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of the world’s biggest banks. James also has a passion for the retail investing landscape, from finding the best trading brokers to navigating the latest market trends. He authors, edits and fact-checks content for a series of investing websites.
Fact Checked By
Fact Checked By
Tobias Robinson
Tobias is a partner at, Director of a UK limited company, and active trader. With 25+ years experience trading across a range of investment types, Tobias brings a wealth of experience to the testing and rating team. Tobias also contributes market analysis and commentary articles for websites in the financial niche.
/ 5
Pepperstone is #3 in our CFD broker rankings.

Pepperstone is a best-in-class broker. Experienced traders benefit from razor sharp spreads with sophisticated automation tools and over 1000 instruments. Newer traders get user-friendly platforms, rich education materials and 24/7 support.

- DayTrading Review Team
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.

Pepperstone is a leading online broker with over 400,000 clients in more than 175 countries. The top-rated firm offers excellent market access, industry-leading platforms in MT4, MT5, TradingView and cTrader, plus low fees with no hidden charges. Pepperstone is also heavily regulated with a high trust score, holding licenses with reputable bodies, including the FCA, ASIC, DFSA, and CySEC.


Demo Account

Copy Trading

Beginner Friendly
MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
Credit Card, Debit Card, PayPal, Wire Transfer, Visa
and 2 more

Forex Trading

Pepperstone offers ultra-low spreads from 0.0 pips on the Razor account and has an excellent selection of 60+ pairs. The broker boasts an impressive 99.94% fill rate with no requotes or dealing desk intervention. Forex lots start at 0.01.

Stock Trading

Pepperstone offers hundreds of shares covering US, UK, Australian and German stock markets. Traders can go long or short on big names like Tesla with deep liquidity and competitive commissions.

CFD Trading

Pepperstone is a fast and reliable CFD broker with 1200+ assets covering forex, commodities, shares, indices, and ETFs. You can also trade currency indices, which aren't available at many alternatives. CFDs can be traded on four leading platforms with a choice of accounts and base currencies. Expert Advisors (EAs) are also supported for automated trading strategies.

Crypto Trading

Take positions on cryptos like Bitcoin with up to 1:10 leverage. Pepperstone also offers popular altcoins, as well as crypto indices, which offer a holistic view on the digital currency market.

Spread Betting

Pepperstone offers financial spread betting to both retail and professional traders. Bet on forex, indices, shares and more on the powerful MT4, MT5, TradingView and cTrader platforms. Pepperstone also provides excellent education and training materials for traders new to spread bets.

Copy Trading

Pepperstone offers an impressive range of third-party platforms, including DupliTrade, a tool that allows investors to automatically replicate the trading activity of experts.


  • Best Overall Broker 2023 -
  • Best Trading App - 2022
  • Best Forex Broker - 2021
  • #1 Overall Client Satisfaction - UK Investment Trends 2022
  • #1 Value for Money - UK Investment Trends 2022
  • #1 Quality of Trade Execution - UK Investment Trends 2022
  • #1 Ease of Platform Navigation - UK Investment Trends 2022
  • #1 Charting - UK Investment Trends 2022
  • Best Forex Broker Overall - 2022
  • Best MT4 Broker - Good Money Guide Best MT4 Broker 2022
  • Top 5 MetaTrader brokers - Broker Chooser Top 5 MetaTrader brokers 2022

✓ Pros

  • World-renowned broker with licenses in 7 jurisdictions, including the UK (FCA) and Cyprus (CySEC)
  • Active Trader Program for high-volume traders with discounts on forex, indices and commodities (eligible jurisdictions only)
  • Excellent suite of automated trading tools including, Smart Trader and API trading
  • In-depth and frequent webinars covering charting strategies and trading tips
  • Competitive Razor account with tight spreads averaging 0.12 pips for EUR/USD
  • Wide selection of assets including currencies indices like the US Dollar Index
  • Multiple leading platforms including MT4, cTrader and TradingView
  • Award-winning customer support via telephone, email or live chat

✗ Cons

  • Cryptos only available for professional clients in some jurisdictions
  • Limited payment methods for UK clients
  • Traders from the US not accepted

Pepperstone is a leading forex and CFD broker. Based in Australia and ASIC regulated, this brokerage review details spreads and minimum deposit requirements, trading platform ratings, mobile apps, withdrawals, login security, and more. Find out whether to open a Pepperstone trading account.

History & Overview

Based in Australia, Pepperstone Limited was established in 2010. Since then it has grown exponentially and is now one of the largest forex and CFD brokers in the world. The brokerage has over 300,000 active clients spanning 176 countries. The brand is also highly regarded by experienced investors and industry professionals.

Pepperstone registered in the UK in 2015 and has many European clients. European customers are governed by the CySEC and UK customers by the FCA.

The online brokerage is also regulated in Dubai and Kenya covering the Middle East and African markets. In addition, Pepperstone is regulated by the ASIC and clients in LATAM and Asia are covered under the SCB.

The company’s stated mission is to provide institutional-grade trading to the online forex investor. Read on to find out if they have succeeded.

Pepperstone Trading Platforms

One area in which Pepperstone excels is its commitment to providing technology that suits each individual trader, and this is most apparent in its multitude of platforms.

The broker offers MT4, MT5, cTrader, and TradingView, alongside a variety of tools to help investors. Not only does this enable traders to pick the most appropriate platform based on features, navigation, ease of opening and closing trades etc, but a handy guide is also provided that allows for a simple side-by-side comparison.

MetaTrader 4 (MT4)

The most popular trading platform in the world, clients can customize the way they trade, build and run EAs (Expert Advisors) using the programming language MQL4, utilize Autochartist to find high-probability investments, get access to Smart Trader Tools, and make use of over 100 pre-installed indicators.

MT4 will meet the needs of beginners through to experienced traders. The selection of technical and fundamental analysis tools, alongside the range of instant and pending orders, means the platform lends itself to various popular day trading strategies, plus longer-term investment systems.

Clients can download the MetaTrader 4 platform directly from the Pepperstone website once a live account has been created.

Pepperstone MT4 Platform
MetaTrader 4

MetaTrader 5 (MT5)

MT5 has all the features of its predecessor, plus greater functionality. Investors can easily buy and sell CFDs, code with the help of MQL5 and make use of the advanced customization features, fast processing and 38 built-in indicators.

Other advantages include the ability to hedge, access to a built-in economic calendar, advanced pending orders, compatibility with Autochartist and Smart Trader Tools, 21 timeframes and an expanded maximum of 500 total orders.

Pepperstone MetaTrader 5 platform
MetaTrader 5


This platform is perfect for investors who wish to replicate the institutional trading environment. Traders can control slippage and order fills, access FIX API, use C# to code in cTrader Automate and watch comprehensive educational videos within the platform.

cTrader can be downloaded on Windows, but not macOS. Alternatively, customers can use the web application which is available for both cTrader and MT5.

Pepperstone cTrader platform and app


When we used Pepperstone, our experts found the reliable charting platform, TradingView is also available. The platform offers advanced graphs and technical analysis capabilities. It is also one of the biggest social networks for aspiring traders and investors.

TradingView uses the Pine Script coding language, enabling users to get started with automated trading. Both pre-built and customizable indicators are available, alongside an economic calendar and news stream. The cloud-based solution also protects against data loss.

UK traders will also be pleased to learn that you can spread bet through the TradingView platform. Pepperstone is one of the only brokers to offer this, making it an excellent option if you want to place spread bets directly from TradingView charts, while also making use of the platform’s rich social trading features.

Overall, TradingView is a good fit for clients conducting technical analysis and users looking for social investing.

Pepperstone TradingView platform and app


Clients can trade on 1200+ global markets via CFDs:

Clients can also engage in spread betting across major financial markets, including UK shares. Profits from spread betting are tax and commission-free (UK and Ireland clients don’t pay stamp duty). Traders also benefit from the ability to go long or short on multiple positions.


Spreads on Pepperstone’s popular MetaTrader 4 platform are variable, with quotes sourced from a multitude of major banks and electronic crossing networks.

This is a good indication of the company’s commitment to offering clients the best prices possible, and during liquid times, the broker has been known to drop spreads to as little as 0.0 pips on their EUR/USD pair.

The same minimum spread value can be seen for many other AUD and EUR combination pairings, and the company’s website has a handy chart detailing both minimum and average spread values for each of the currency pairs they offer, as well as a rundown of their (minimal) commission charges and estimated upfront costs.

While using Pepperstone, we also found there is no inactivity fee.

Leverage Review

Pepperstone varies the amount of leverage on offer depending on whether you qualify as a professional or retail client. Regulatory jurisdiction will also impact leverage and margin rules.

In Europe, Australia, Dubai and the UK, leverage is capped at 1:30 and varies by asset. In other markets, and for Pro accounts, leverage can reach 1:500.

Mobile App Rating

Pepperstone offers three iPhone and Android compatible apps, one for each trading platform: MT4, MT5 and cTrader.

They provide users with access to the broker’s advanced forex trading technology on the go. Each application can be downloaded from the official website, the Google Play Store or the Apple Store. Mobile traders can also manage their accounts, make payments, request withdrawals, and make use of any bonuses and promotions.

Deposits & Withdrawals

Traders open accounts and deposit funds in several base currencies, from US Dollars through to Pound Sterling, Euros, and the Swiss Franc.

Money can be transferred via a variety of different mediums, including Verified by Visa, MasterCard Secure Code, credit/debit card, PayPal and broker to broker.

In terms of withdrawals, requests are made via the Secure Client Area and take 1-3 days to process. However, deposits are immediate, with only bank wires taking up to 3 working days.

The company itself does not charge any internal fees for either deposits or withdrawals, although should any external transfer fees occur, these are the responsibility of the client.

Note that e-wallets such as Skrill and Neteller are not accepted.

Pepperstone Demo Account

A 30-day practice trading account is available to anyone wishing to trial a potential partnership with the company; $50,000 of virtual funds are included.

Those who would like to get a feel for the technology and overall offerings are treated to a choice of two different platforms: MetaTrader 4 or cTrader.

Clients can register for a free practice account on the broker’s website. A short registration form needs to be submitted.

Bonuses & Rebates

Pepperstone is renowned for its low spread, fast execution, and competitive trading environment, so it tends not to offer any significant deals or promotions for retail clients. This is also in line with regulatory requirements.

Professional investors, however, can benefit from a rebates program that gives cash discounts on spreads depending on the amount invested each month.

There is also an array of free educational resources for all its clients, from trading guides to in-depth investing webinars.

In addition, Pepperstone offers refer a friend deals where clients can earn extra cash by referring new traders.

Regulation Review

Pepperstone is a safe bet for those in search of a properly licensed and regulated enterprise.

The brokerage prides itself on a culture of compliance and is governed by top-tier regulators from across the globe, including the UK Financial Conduct Authority (FCA) and the Australian Securities and Investment Commission (ASIC). The Dubai Financial Services Authority (DFSA) also awarded the firm a license, providing additional protection for investors in the UAE.

In addition, European clients are governed by the Cyprus Securities & Exchange Commission (CySEC), while in LATAM and Asia, the broker is overseen by the Securities Commission of the Bahamas (SCB).

Pepperstone Market Kenya Ltd was given a Capital Markets Authority (CMA) license to operate across Africa in 2020. Pepperstone GmbH is also licensed by the Federal Financial Supervisory Authority (BaFin) and is regulated in Mauritius.

Repeatedly recognized for excellence in innovation, technology, and customer service, the company is an award-winning broker 50 times over, and is arguably one of the most reputable investment outfits trading today.

Additional Features

As part of its comprehensive offering, Pepperstone gives traders many additional features alongside its high-tech platform and low-cost pricing. These include not only a multitude of educational materials, ranging from webinars to trading guides, but also a frequently updated market review section, an economic calendar, and specialist technical analysis software called Autochartist, which helps users to make informed trading decisions.

In addition, investors can automate their positions with Pepperstone API or and make use of the VPS service. Copy and social trading are possible with the help of DupliTrade, a platform that allows novices to copy the positions of experienced traders.

Pepperstone review

Pepperstone has also partnered up with TradingView, a leading social investing community and charting platform. With advanced analysis tools alongside interactive charting features, it’s a great option for beginners and established traders alike.

Account Types

If you are wondering how to choose between the Pepperstone Standard vs Razor live accounts, here are the key benefits:

From the company’s commission-free basic account through to their zero spread active traders option, interbank pricing, cutting-edge technology, and deep liquidity that is included as standard, there isn’t really a bad option.


The company goes to great lengths to understand what traders want, and as a result, its services are low cost, reliable and convenient, with clients offered a variety of platforms to make certain their needs are met.

In addition, the trading conditions the firm has created are excellent, with liquidity and spreads that are usually available to only an elite class of institutional clients. This means that even retail traders have access to potentially profitable opportunities.

The technology on offer is also of the highest caliber, ensuring that trading with Pepperstone is fast, reliable and efficient. Its integration with TradingView adds another layer of sophisticated trading tools with top-tier access to market data and insights. Other useful features include ~30ms execution speeds, no inactivity fees, and 10 account currencies.

The result is that the company has won numerous awards for client satisfaction, making them an ideal choice for those looking for an optimal brokerage experience.


Although hard to fault this online broker, there are a few drawbacks:

Pepperstone Trading Hours

Open around the clock, Pepperstone also provides 24/7 online and phone support to clients who require it.

Holidays and asset-specific market hours can be found on the official website.

Contacting Support

Pepperstone is committed to offering an accessible customer experience, and it can be contacted in different ways with 24/5 multilingual assistance.

Firstly, it has offices in London, Melbourne, Germany, Cyprus, Kenya, Bahamas and Dubai. Two of the most popular locations can be reached using the following details:

London Office (Pepperstone Limited)
70 Gracechurch Street
London EC3V 0XL
United Kingdom

Melbourne Office (Pepperstone Group Limited)
Pepperstone Group Limited
Level 16, Tower One
727 Collins Street
Melbourne VIC 3008

24-hour online support is available. You can send an email to or use the toll-free phone number +44 (800) 0465473. However, the live chat function has been disabled.

If you have issues with client login, is best to use the methods listed above to get in touch with the team.


Pepperstone prides itself on adhering to a culture of strong regulation and compliance, and this extends to its online presence. Multiple global licenses ensure full regulatory oversight across Australia, Africa, Europe and beyond.

The broker also offers clients a safe and secure website to use, with industry-leading security protocols. A quick glance instantly reveals its ‘https’ designation, and logins are fully password protected, with adequate data protection systems in place to safeguard sensitive client information.

Pepperstone Verdict

Popular, rapidly expanding, and highly respected within the industry, Pepperstone has earned its place as one of the foremost forex and CFD brokers in the world.

Providing state-of-the-art technology, great customer service, and a user-friendly interface, it’s undoubtedly an attractive option for those looking to enter the financial markets, with potential clients unlikely to be disappointed.

Accepted Countries

Pepperstone do not accept traders from:

Afghanistan, American Samoa, Antarctica, Argentina, Armenia, Azerbaijan, Belarus, Belgium, Belize, Bhutan, Bosnia and Herzegovina, Burundi, Cameroon, Canada, Central African Republic, Chad, Congo, Congo, Democratic Republic of the, Côte d’Ivoire, Eritrea, French Guiana, French Polynesia, Guadeloupe, Guam, Guinea, Guinea-Bissau, Guyana, Haiti, Holy See, Iran, Iraq, Japan, Kazakhstan, Lebanon, Liberia, Libya, Mali, Martinique, Mayotte, Mozambique, Myanmar (Burma), New Zealand, Nicaragua, North Korea, Palestine, State of, Puerto Rico, Réunion, Russia, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Samoa, Somalia, South Georgia and the South Sandwich Islands, South Korea, South Sudan, Sudan (North), Suriname, Syrian Arab Republic, Tajikistan, Tunisia, Turkmenistan, Turks and Caicos Islands, United States of America, Uruguay, Vanuatu, Venezuela (Bolivarian Republic of), Virgin Islands (U.S.), Western Sahara, Yemen, Zimbabwe.

Payment Methods

Pepperstone Details

Minimum Trade 0.01 Lots
Regulated By FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
Account Types
  • STP
  • ECN
  • DMA
  • MAM
  • PAMM
Islamic Account Yes
Mobile Apps iOS, Android & Windows
Margin Trading Yes
Volatility Index Yes
Spot Trading Yes
Perpetual Swaps No
AI / Machine Learning Yes
Robo Advisor No
P2P Trading No
Negative Balance Protection Yes
VPS Hosting Yes
Tournaments No
Demo Competitions No
Managed Accounts No
Market Maker No
Auto Trading Expert Advisors (EAs) on MetaTrader, cBots on cTrader
Social Trading Yes
Trade Signals Yes (Via Chartist Software)
Inactivity Fee $0
Guaranteed Stop Loss No
Stock Exchanges
  • Australian Securities Exchange
  • CAC 40 Index France
  • DAX GER 40 Index
  • Deutsche Boerse
  • Dow Jones
  • Euronext
  • FTSE UK Index
  • Hang Seng
  • Hong Kong Stock Exchange
  • Japan Exchange Group
  • Korean Stock Exchange
  • London Stock Exchange
  • Nasdaq
  • New York Stock Exchange
  • S&P 500
  • Shanghai Stock Exchange
  • Shenzhen Stock Exchange
  • SIX Swiss Exchange
  • Taiwan Stock Exchange
  • Toronto Stock Exchange
  • Cocoa
  • Coffee
  • Copper
  • Corn
  • Cotton
  • Gasoline
  • Gold
  • Livestock
  • Natural Gas
  • Oil
  • Orange Juice
  • Palladium
  • Platinum
  • Precious Metals
  • Silver
  • Soybeans
  • Sugar
  • Wheat

CFD Trading Details

FTSE Spread 1.0
GBPUSD Spread 0.0
Oil Spread 2.0
Stocks Spread From 0.0 pts for US shares
Leverage 1:30 (Retail), 1:500 (Pro)

Forex Trading Details

GBPUSD Spread 1.0
EURUSD Spread 1.0
EURGBP Spread 1.2
Assets 60+
Currency Indices
  • USD
  • EUR
  • JPY

Cryptocurrency Trading Details

Crypto Spread BTC 30, ETH 0
Crypto Lending No
Crypto Staking No
Crypto Mining No
Crypto Auto Market Maker No
Crypto Coins
  • ADA
  • BCH
  • BNB
  • BTC
  • DASH
  • DOGE
  • DOT
  • EOS
  • ETH
  • LINK
  • LTC
  • UNI
  • XLM
  • XRP
  • XTZ

Compare Pepperstone

Compare Pepperstone with similar brokers that accept traders from your location. Among available brokers these are the most similar to Pepperstone:

  1. IG Group – IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
    Go to IG Group
  2. Just2Trade – Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.
    Go to Just2Trade
  3. – boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they provide a huge range of markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.
    Go to

Pepperstone Comparison Table

Compare Pepperstone With Similar Brokers
Pepperstone IG Group Just2Trade
Rating 4.8 4.4 3.5 4.5
Markets CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Stocks, ADRs, ETFs, Futures, Options, Commodities, Bonds Forex, Spot Metals
Demo Account Yes Yes Yes Yes
Minimum Deposit $0 $0 $100 $100
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Bonus Up to $2,000 for professional accounts Active Trader Program With A 15% Reduction In Costs
Education Yes Yes No Yes
Platforms MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade MT4, AutoChartist, TradingCentral MT4, MT5, TradingCentral MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Leverage 1:30 (Retail), 1:500 (Pro) 1:30 (Retail), 1:250 (Pro) 1:20 1:50
Payment Methods 7 6 20 8
Visit Visit Visit Visit
Review Pepperstone
IG Group

Compare Trading Instruments

Compare the markets and instruments offered by Pepperstone and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Pepperstone Trading Instruments
Pepperstone IG Group Just2Trade
CFD Yes Yes Yes No
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes Yes Yes
Gold Yes Yes Yes Yes
Copper Yes Yes No No
Silver Yes Yes Yes Yes
Corn Yes No No No
Crypto Yes Yes Yes No
Futures No Yes Yes No
Options No Yes Yes Yes
ETFs Yes Yes Yes No
Bonds No Yes Yes No
Warrants No Yes No No
Spreadbetting Yes Yes No No
Volatility Index Yes Yes No No

Pepperstone vs Other Brokers

Compare Pepperstone with any other broker by selecting the other broker below.

Pepperstone vs


Does Pepperstone Have A Mobile App?

Yes, the broker provides three applications, one for each platform: MT4, MT5 and cTrader. The mobile apps can be downloaded from the official website or Google Play and the Apple App Store.

What’s The Pepperstone Minimum Deposit?

The recommended minimum deposit is $500, but investors can deposit smaller amounts.

Does Pepperstone Have Webtrader?

Yes, this option is available with both the MT5 and cTrader platforms.

How Many Accounts Can I Have With Pepperstone?

If you have more than 10 units of currency in 10 of your live accounts, you are allowed to have up to 100 Pepperstone accounts.

Is Pepperstone Available In Indonesia?

Yes, you can open an account and trade with Pepperstone from many countries, including Indonesia.

Pepperstone is a leading online broker with over 400,000 clients in more than 175 countries. The top-rated firm offers excellent market access, industry-leading platforms in MT4, MT5, TradingView and cTrader, plus low fees with no hidden charges. Pepperstone is also heavily regulated with a high trust score, holding licenses with reputable bodies, including the FCA, ASIC, DFSA, and CySEC.
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.