Review of Pepperstone

From forex and cryptocurrency, to stock and bond CFD trading, find out everything you need to know about Pepperstone right here.
By: Theodor Tonca
Theodor Tonca
Theodor is a Financial Writer for Invezz, reviewing, testing and scrutinizing financial products. He is a former financial analyst and investment… read more.
Updated: Apr 21, 2022
3.5/5 Star rating
15 min read
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Pepperstone is an Australia-based Contract For Difference (CFD) and forex broker that provides traders access to more than 72 different asset classes. Pepperstone was originally founded in 2010 and has become one of the largest retail trading platforms with a daily average trading volume in excess of $12.5 billion.

Pros & Cons


Zero commission on trades
Hedging, scalping, and cryptocurrency trading available
Lots of deposit and withdrawal options, including PayPal


What can I do with Pepperstone?

Pepperstone allows users the ability to trade a wide variety of assets and commodities. In addition to offering access to all major forex pairs, Pepperstone also offers CFD trading on stocks, bonds, and five popular cryptocurrencies.  

It has multiple trading platforms for intermediate and pro traders alike, as well as automated trading robots and API trading. On top of this, Pepperstone’s platform also offers social trading through its account mirroring tool, allowing you to copy trades from the most successful forex traders on the platform.

Pepperstone markets, assets, and options

What assets and products can you trade on Pepperstone?

Pepperstone enables you to trade over 150 different instruments, including over 61 currency pairs such as EUR/USD, CHF/EUR, CAD/USD, as well as equity, commodity, and cryptocurrency CFDs. Here’s a breakdown of all the CFDs you can trade with Pepperstone:

Forex pairs62
View more products >

What leverage trading options are there?

Pepperstone currently offers 5 levels of leverage covering all major assets such as currencies, commodities, and even cryptocurrencies (something which not all retail trading platforms offer).

While leverage enables traders to take positions many times their investment, this leverage can work both in your favour as well as to your detriment, as losses can easily exceed your original investment amount.

Product (CFDs)Maximum leverageMargin
View leverage details >

What are the spreads?

Pepperstone offers spreads from 0.0 pips in its ‘Razor’ account, but otherwise spreads vary by account type. Most of its spreads are variable and are used to advertise ‘commission free’ trades- which is in line with other retail trading platforms. Here’s a summary of the average spreads you’ll find.

ProductAverage spreadFixed or variable?
Forex1 pipVariable
Commodities6 pipsVariable
View spread details >

Fees, limits, and payment options on Pepperstone

What are the deposit and withdrawal fees, limits, and speeds?

Pepperstone offers a wide range of payment options to users. From debit/credit and bank transfer options, to digital options and wallets such as Paypal and Skrill. Overall, Pepperstone offers a wider selection of payment methods than most online brokers, and here’s a summary of the details of each option available.

Payment methodDepositWithdraw
– Min/Max
– Fees
– Speed
AUD$200 / None
None / Up to 90% of free margin
24 hours
Debit/Credit card
AUD$200 / None
None / Up to 90% of free margin
1 business day
Bank Transfer
AUD$200 / None
Up to 48 hours
None / Up to 90% of free margin
2-3 business days
AUD$200 / None
None / Up to 90% of free margin
24 hours
$AUD200 / None
None / Up to 90% of free margin
24 hours
View more payment options >

How much are Pepperstone’s fees and commissions?

Pepperstone has some of the lowest trading fees in the online broker space. There are no non-trading fees for any CFDs, and there is also no inactivity fee – which is a rarity among retail trading platforms nowadays. The main drawback of Pepperstone is that their overnight financing rates can be quite high.

Fee typeFee amountCommission
ForexNone1 pip spread
CommoditiesNone6 pip spread
CryptocurrenciesNone5 pip spread
Rollover/Overnight FeesVaries
View fee details >

Pepperstone trade sizes and limits

Pepperstone offers standard 0.01 minimum trade lots up to 100 lots per trade. This is the case for both Standard and Razor Accounts. Here’s a full breakdown of the trade limits on Pepperstone:

ProductMinimum tradeMaximum trade
Forex0.01 lots100 lots
Stocks1 share
Commodities$0.10100 lots
Cryptocurrencies0.01 lots100 lots
View trading details >

Pepperstone trading platform

What devices can I use Pepperstone on?

Pepperstone offers access to all of its trading platforms via both web and desktop as well as their trading app for Android and iOS devices. The Pepperstone mobile app offers access to the complete range of order types and advanced analysis tools as the web and desktop versions and is available as a free download from both the App Store and the Google Play Store.

  • Laptop computers 
  • Desktop computers
  • Android smartphones
  • iOS smartphones

Can I use Pepperstone in my country?

Pepperstone accepts users from the United Kingdom, Australia, Hong Kong, Germany, and over 62 other countries. This excludes the United States, Canada, India, New Zealand, and Brazil due to the fact that it is not registered and authorities with local regulators in those countries. 

Simply select your country from the dropdown box below and we’ll tell you if Pepperstone is available where you are.

Is Pepperstone available in my language?

Pepperstone offers support 24/5 primarily in English, but it also supports Chinese, Persian, Dutch, and Arabic along with others listed below.

  • Arabic
  • Bulgarian
  • Chinese (simplified, PRC)
  • Taiwanese
  • Croatian
  • Czech
  • Danish
  • Dutch
  • English
  • Estonian
  • Farsi/Persian
  • French
  • German
  • Greek
  • Hebrew
  • Hungarian
  • Indonesian
  • Italian
  • Japanese
  • Korean
  • Latvian
  • Lithuanian
  • Malay
  • Mongolian
  • Polish
  • Portuguese
  • Romanian
  • Russian
  • Serbian
  • Slovak
  • Spanish
  • Swedish
  • Tajik
  • Thai
  • Turkish
  • Ukrainian
  • Uzbek
  • Vietnamese

Select your language from the drop down list, and we’ll tell you right away if Pepperstone is available for you.

How easy is it to use Pepperstone?

Pepperstone is very user-friendly. The platform offers a quick and streamlined account set up with a simple application process. This ease of use extends to its trading platforms, which include MT4, MT5, and cTrader depending on which you want to use. These offer split-second processing times and features such as expert trade advisors and indicators that can be enabled with the push of a button.

Pepperstone also offers syncing across multiple devices such as your laptop and mobile, so you can stay up to date on your trades from anywhere.

Key features

Pepperstone’s trading platform offers over 28 smart trading tools and indicators to help users place successful trades. Here are a few of the platform’s most notable features.


Highlights the currency pairs, data intervals, and technical indicators that signify key tradable market events.

Social Trading

Users can follow and copy trades from popular traders using third-party services.

Automated Trading

Available via Pepperstone’s cTrader platform, this feature lets you backtest and optimise your trading strategies by building automated trading bots and custom indicators.

Security and regulation

Is Pepperstone safe?

Yes, Pepperstone is a secure platform. Pepperstone is authorised and regulated by two tier-1 financial regulators and takes the additional steps of offering two-factor identification and SSL encryption to account holders.

It should be noted, however, that the broker recently had a user data breach in the summer of 2020. Pepperstone was able to quickly identify and stop this due to the fraud prevention system they have in place and all affected account holders were immediately notified.

Am I and my funds protected?

Yes, up to a limit. Pepperstone holds professional indemnity insurance through Lloyd’s of London, all client funds are held in segregated accounts, and as an authorised and regulated broker also offers UK traders protection of up to £85,000 under the Financial Services Compensation Scheme Protection (FSCS).

Is Pepperstone regulated?

Yes, Pepperstone is authorised and regulated by two top-tier financial authorities: the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC), as well as the Securities Commission of The Bahamas.

Do I have to verify my account with Pepperstone?

Yes, legal documents that you have to provide to open an account will vary depending on the country regulations that apply to you. Generally two pieces of valid ID are sufficient, which is the standard with all authorised and regulated brokers.

Extra information

Educational resources 

Pepperstone provides a full Education & Analysis section for traders wanting to get expert insight, analysis, and trade ideas. This section offers everything from market news, and an economic calendar to complete trading guides of how to trade CFDs for beginner- and intermediate-level traders.

Tools and charting

Pepperstone has a wide range of over 28 tools and indicators across its trading platforms. Foremost among these are an Autochartist feature (which highlights key tradable market events), and a proprietary risk management tool that provides you with expected market movements ranges for the next hour, 4 hours, and 24 hours.

Customer support

Pepperstone provides 24/5 support via either phone, email or direct message in a wide array of languages including English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic.

Our verdict

Pepperstone has been around since 2010, and has gained an impressive reputation for facilitating CFD, forex, and commodity trades over the past decade.

During this time it has streamlined its account application and verification processes, making it easy and efficient. Once signed up, you have a couple of different trading platforms from which to choose, from the beginner and intermediate oriented MT4 to the powerful MT5 meant for pros. 

Pepperstone also isn’t lacking any major options or tools, with full setup customisation available and over 28 different smart trading apps and indicators that traders can take advantage of. Additionally, Pepperstone also offers leverage starting at 30:1 all the way up to 500:1 for professional forex traders, with spreads from 0.0 pips on over 61 currency pairs.

The platform is also secure and well regulated, with oversight by two tier-1 financial authorities (the UK’s Financial Conduct Authority and the Australian Securities and Investments Commission) as well as registration at the Securities Commission of The Bahamas. All client funds are insured and deposited in segregated accounts in tier 1 banks for optimal safekeeping. 

Despite a recent data breach, which was limited and in which all affected parties were immediately notified, Pepperstone offers a fantastic service to its users. The platform has a wide array of CFDs available to trade and a low fee structure to help you keep more of your profits.

How to open an account with Pepperstone

  1. Go to Pepperstone’s website and click on the ‘Open live account’ button in the top right hand corner.
  2. Enter your personal information (email, full name, phone number, and address)
  3. Complete your live account profile
  4. Upload two pieces of ID (one primary photo ID, one secondary such as an utility bill) to verify your live account
  5. Verification will be pending for several minutes up to a few hours in some cases
  6. You are now ready to deposit funds and start trading


Who owns Pepperstone?
How does Pepperstone make money?
Do I have to pay tax on Pepperstone profits?
Does Pepperstone offer CFD trading?
How do I sell on Pepperstone?
How do I delete my Pepperstone account?
How can I short on Pepperstone?
What if I forget my account password?
Can I transfer from my Pepperstone account into my PayPal account?
What if Pepperstone closes down while I have open trades?
Can I access my full trading history on Pepperstone?
Can I pay in cryptocurrency with Pepperstone?
Does Pepperstone offer bonuses?

Sources & references
Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Theodor Tonca
Financial Writer
Having worked for a decade as an analyst, investment partnership founder, and writer - Theodor is a keen sportsman. When not working, he can most commonly… read more.

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