Pepperstone Review – Award-Winning FX and CFD Broker

By | May 16, 2021

To trade with an Award-Winning FX and CFD Broker, We introduce you to Pepperstone. Read the full Pepperstone Review in the article below.

What is Pepperstone?

pepperstone review

Pepperstone is an Australian broker who deals in CFDs. It was established in 2010 and further expanded its services in London in 2015 to serve its European clients.

Pepperstone is regulated by top-tier financial authorities like the UK’s Financial Conduct Authority (FCA), Germany’s BaFin, and the Australian Securities and Investments Commission (ASIC).

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Account Opening

Pepperstones’ account opening process is user-friendly and fully digital. Pepperstone accepts customers from all over the world. Notable exceptions include the US, Canada, New Zealand, and Japan.

What is the minimum deposit at Pepperstone?

Pepperstone requires a minimum deposit of $0 for a standard account. 

Types of account :

Pepperstone offers two types of account 

  1. Standard Account 
  2. Razor Account 

How to open your account

The account opening process is easy and fully digital: an online application takes roughly 10-15 minutes. On paper, you have to wait 1-3 days for account approval; however, ours was verified within a day.

Pepperstone account opening takes four steps:

  1. Register your email and password; confirm your email; then proceed to the Secure Client Area.
  2. Fill in your personal information and set the base currency of your account.
  3. Complete a trading expertise survey.
  4. Upload a copy of your passport/ID and a utility bill or some other proof of address.

If a problem occurs, you can get help via email or live chat. E.g. you can send them copies of your ID/passport, and they will upload it for you.


Pepperstone has no non trading fees, it doesn’t even charge inactivity or account fee. 

Pepperstone fee snapshot 

EURUSDMT4 ECN Razor pricing: $3.76 commission per lot per trade plus spread cost. 0.1 pips is the average spread cost during peak trading hours.
GBPUSDMT4 ECN Razor pricing: $3.76 commission per lot per trade plus spread cost. 0.45 pips are the average spread cost during peak trading hours.
S&P 500 CFDThe fees are built into the spread, 0.4 points is the average spread cost during peak trading hours.
Inactivity feeNo inactivity fee

Forex Fees

Pepperstone forex benchmark fees of a $20,000 held for one week

EURUSD benchmark fee$7.1
GBPUSD benchmark fee$6.7
AUDUSD benchmark fee$8.1
EURCHF benchmark fee$3.7
EURGBP benchmark fee$8.9

Fees are charged on the basis of commissions and spreads. The commission depends on the trading platform you use. The commission charged by them is:

  • $7.53 for MetaTrader 4 
  • $7.00 for MetaTrader 5
  • $7.00 for cTrader 

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Deposit and Withdrawal

It provides various means for deposit and withdrawal of money. Pepperstone offers you 9 types of base currencies: AUD, USD, SGD, HKD, JPY, NZD, EUR, CHF, and GBP.

Pepperstone charges zero deposit fees. It provides bank transfers, credit/debit cards, and E-wallets as options for fund deposition. 

The availability of payment options also depends on the regulator, under whom you are operating. 

RegulatorPayment Option
Australian Securities and Investments Commission (ASIC)Credit/Debit card, Wire transfer, Neteller, Skrill, PayPal, Poli Transfer
Financial Conduct Authority (FCA)Credit/Debit card, Wire transfer, PayPal
Dubai Financial Services Authority (DFSA)Wire transfer
Securities Commission of The BahamasWire transfer

Pepperstone offers the same method for withdrawal as for deposition. It offers free of cost withdrawal from credit/debit cards. But charges withdrawal through some of the eWallets. 

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

Pepperstone Trading Platform 

Pepperstone does not own any kind of platform. It supports a third-party MetaTrader4 platform. MetaTrader platforms are highly customizable and are user-friendly. It offers three third-party trading platforms:

  • MetaTrader 4
  • MetaTrader 5
  • cTrader
Pepperstone Trading Platform

MetaTrader platforms are available in 41 different languages. 

The mobile trading app and desktop platform is also provided by MetaTrader4 only. The  mobile application is available for both IOS and Android.  

The only difference between desktop and web platforms is that one lacks price alert facility and the other offers the same. 

Products Offered

Pepperstone allows you to trade in Forex and CFDs. This means that you can only trade in commodities, stock indices, share CFDs and cryptos. It lacks assets like real stock and ETFs. 

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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.

Pepperstone Product Selection 

Currency pairs (#)61
Stock index CFDs (#)14
Stock CFDs (#)114
Commodity CFDs (#)16
Cryptos (#)5

Social trading, algo trading and strategies

Pepperstone has partnered up with multiple social trading platforms, through which you can access copy trading features including Myfxbook, Mirror Trader, MetaTrader Signals and DupliTrade.

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Customer Service

pepperstone customer service

Pepperstone provides good customer service. You can connect with them via; phone, email or live chat. In live chat you do not have to wait for the operator to come to address your issue, they are easy to connect.

The drawback here is that customer support is not available on weekends. Which means no 24/7 support. 


Seamless and free deposit and withdrawalOnly forex and CFDs
Low forex feesNo investor protection for clients outside the EU&UK
No inactivity feeHigh costs for holding positions overnight
Credit/Debit card availableHigh bank withdrawal fee for clients outside the EU/Australia
Good search function Poor design

Is Pepperstone Safe?

Pepperstone secures funds for its clients under a consumer protection scheme. Different protection amounts are allocated to different entities, as follows. 

Country of ClientsProtection AmountRegulatorLegal Entity
UK£85,000FCAPepperstone Limited
Germany, Austria€20,000BaFinPepperstone GmbH
Middle-Eastern countriesNo protectionDFSAPepperstone Financial Services Limited
AustraliaNo protectionASICPepperstone Group Limited
Other European countries€20,000CySecPepperstone EU Limited
African countriesNo protectionCMAPepperstone Markets Kenya Limited
All other clientsNo protectionSCBPepperstone Markets Limited


Pepperstone is a great CFD and Forex broker. It is regulated by top financial institutions which makes it safe to invest with. 

Account opening process is fast, with no minimum deposit requirement. Customer service is good but lacks 24/7 support. Research tools are average. On the other hand it has a limited product portfolio but you can give it a try as it has no inactivity fee and also no minimum deposit for standard account. 

Pepperstone is a great CFD and Forex broker. It is regulated by top financial institutions which makes it safe to invest with. 



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