Pepperstone Review 2023

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Pepperstone is #6 in our rankings of CFD brokers.

Pepperstone Facts & Figures

Pepperstone is a leading online broker with over 400,000 clients in more than 175 countries. The top-rated brokerage 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.

  • 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 APIs
  • Very fast execution speeds of ~30ms, which will serve traders and scalpers
  • 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 currency indices like the US Dollar Index
  • Multiple platforms suitable for trading including MT4, cTrader and TradingView
  • Award-winning customer support via telephone, email or live chat
  • Cryptos only available for professional clients in some jurisdictions
  • It took us longer to sign up than at many alternatives
  • Traders from the US are not accepted
  • Demo account closes after 30 days
  • No proprietary trading app
  • Best Overall Broker - 2023
  • Best Trading App - 2022
  • Best Forex Broker - 2021
  • Best MT4 Broker - Good Money Guide 2023
  • #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
Instruments CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto(only Pro clients), Spread Betting
Demo Account Yes
Min. Deposit $0
Min. Trade 0.01 Lots
Regulated By FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
MetaTrader 4 Yes
MetaTrader 5 Yes
cTrader Yes
DMA Account Yes
ECN Account Yes
Social Trading Yes
Copy Trading Yes
Auto Trading Expert Advisors (EAs) on MetaTrader, cBots on cTrader
Signals Service Yes (Via Chartist Software)
Mobile Apps iOS, Android & Windows
Islamic Account Yes
  • Gold
  • Silver
  • Oil
  • Corn
  • Palladium
  • Precious Metals
  • Platinum
  • Copper
  • Gasoline
  • Cocoa
  • Coffee
  • Cotton
  • Livestock
  • Sugar
  • Wheat
  • Natural Gas
  • Soybeans
  • Orange Juice
CFDs Pepperstone is a fast and reliable CFD broker with 1250+ assets covering forex, commodities, shares, indices, and ETFs. CFDs can be traded on four leading platforms with a choice of accounts and base currencies. The broker boasts an impressive 99.94% fill rate with no requotes or dealing desk intervention.
Leverage 1:30 (Retail), 1:500 (Pro)
FTSE Spread 1.0
GBPUSD Spread 0.0
Oil Spread 2.50
Stocks Spread 0.02
Forex Pepperstone offers ultra-low spreads from 0.0 pips on the Razor account and has an excellent selection of 60+ pairs. You can also trade currency indices, which aren't available at many alternatives. Forex lots start at 0.01.
Forex App

Pepperstone deliver their MetaTrader 4 and MetaTrader 5 platforms across both Android and iOS. With faster processing times, the ability to hedge your positions, advanced pending orders and more tools and indicators to take your trading to the next level – the Pepperstone mobile app is a powerful addition.

GBPUSD Spread 1.0
EURUSD Spread 1.0
GBPEUR Spread 1.2
Assets 60+
Currency Indices
  • USD
  • EUR
  • JPY
Stocks Pepperstone offers hundreds of shares covering US, UK, Australian and German stock markets. Traders can go long or short on big names like Tesla, Apple and Netflix with deep liquidity and competitive commissions.
Cryptocurrency 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. Pepperstone is one of the most trustworthy crypto brokers we have tested.
  • BCH
  • BTC
  • ETH
  • LTC
  • DASH
  • ADA
  • LINK
  • DOGE
  • EOS
  • DOT
  • XRP
  • XLM
  • XTZ
  • UNI
  • BNB
Spreads BTC 30, ETH 0
Crypto Lending No
Crypto Mining No
Crypto Staking No
Auto Market Maker No
Spreadbetting 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 training materials for traders new to spread bets.
Risk Warning – Your Capital is at risk

Pepperstone is an award-winning forex, CFD, and spread betting broker. With nearly 90,000 users globally, it is one of the most popular in the industry. Our UK broker review will explore the key details you need to know, including platform options, fees, regulation, customer support, and more. Find out if becoming a Pepperstone trader is right for you.

Pepperstone Headlines

Pepperstone was founded in 2010 and was originally located in Australia. Since then, the brokerage has expanded internationally and now has multiple branches registered under the Pepperstone Group, all of which are heavily regulated in their respective countries.

Its UK headquarters are based in London, next to the Bank of England, and were set up in 2016. On the path to global expansion, Pepperstone has excelled, picking up multiple industry awards and establishing itself as one of the leading CFD and forex brokers.

Trading Platforms

Pepperstone offers three industry-leading platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. All the platforms offer comprehensive access to trading markets and can be run on desktop, WebTrader, or mobile apps.

MetaTrader 4

Key features of the MT4 platform include:

  • Price signals
  • Historical price data
  • Multi-screen interface
  • Automated trading via APIs
  • Range of chart timeframe options
  • Integrated daily news reports with live updates
WebTrader Pepperstone


MetaTrader 5

In addition to the MT4 capabilities, MetaTrader 5 also includes the following features:

  • Stop-loss alerts
  • 21-time frames
  • Strategy development and testing
  • Highly customisable to fit any trading style
  • Numerous pending order and execution types
  • Advanced technical indicators and analysis tools
Pepperstone platform



cTrader offers a more user-friendly interface, and is straightforward enough for beginners to use. Clients benefit from:

  • 26 built-in chart views
  • Programmable algorithms
  • 50+ customisable trading templates
  • Selection of technical indicators and timeframes
Pepperstone desktop platform



Pepperstone has several asset classes available to trade, these include:

  • 14 index CFDs, including UK100 and US30
  • 20+ commodities including gold, silver, and oil
  • Five cryptocurrency CFDs, including Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC)
  • 60+ forex pairs, including majors, minors and exotics, notably: GBP/USD and EUR/USD

Plus, Peppperstone provides spread betting on stocks, currencies, indices and commodities.

Commission & Fees

Pepperstone offers competitive spreads vs many of its industry alternatives. In particular, on the Razor account, spreads start at zero pips on major forex pairs. The Razor account has lower spreads compared to the standard account, for example on EUR/USD, the Razor account comes in at 0.09 pips, compared with 0.75 pips on the Standard. However, Razor account holders are subject to commission. On MT4 and MT5, a commission of GBP 0.02 (GBP 0.05 round turn) per 1000 units is applied. But on cTrader, commission is charged at 0.0035%.

Spreads on indices, such as the UK100 and Nas100, are 1.0 pip.

Pepperstone also charges fees for positions held overnight (known as the swap rate) and commissions on CFDs depending on currency traded and the platform used.

UK Leverage

In line with FCA regulations, Pepperstone applies a maximum leverage restriction. This is variable by asset class:

  • Equities – 1:5
  • Commodities – 1:10
  • Major forex pairs – 1:30
  • Non-major forex pairs and major indices – 1:20

Mobile Trading

All three of Pepperstone’s trading platforms offer a mobile app and are available to download on Android and iOS devices. This means that investors can execute trades and track strategies on the go. Clients can utilise a suite of drawing and analysis tools and implement automated trading algorithms. Push notifications also mean traders are kept up to date with the latest price changes and market movements.

Pepperstone MT4 Mobile Trading

Mobile Trading on MetaTrader 4

Deposits & Withdrawals

Pepperstone offers a range of deposit and withdrawal options to UK traders. These include:

  • Visa
  • PoLi
  • BPay
  • Skrill
  • PayPal
  • Neteller
  • Union Pay
  • Mastercard
  • Bank Transfer

All funding and withdrawals can be made via the Pepperstone secure client login area. However, the payment methods available may vary depending on account type. The broker has a minimum deposit of £200 or equivalent. Typically, deposits are instant and withdrawals requested before 08:00 GMT will be processed the same day. After 8 am GMT, withdrawals can take up to 3-5 working days.

Demo Account

Pepperstone offers a 30-day free demo account where traders can practice with £50,000 of virtual funds. Here, investors can familiarise themselves with the platforms available before committing themselves to a live account.

Regulation Review

Pepperstone is one of the most highly regulated brokers in the industry. It’s registered with the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investment Commission (ASIC) in Australia, and The Dubai Financial Services Authority (DFSA). This level of regulation should offer UK traders confidence when investing.

Additional Features

Pepperstone offers a range of additional features to enhance the trading experience, these include:

  • Copy trading
  • Market analysis
  • Economic calendar
  • Trading guides with webinars and tutorials
  • Unique trading tools, including VPS trading and Autochartist

Account Types

Pepperstone offers two account types: the Standard and Razor account. Both offer the following key features:

  • 180+ asset classes
  • Access to MT4 and MT5
  • Social/copy trading tools
  • Mobile, desktop, and web trading
  • Minimum deposit of £200 or equivalent
  • Leverage capped at 1:30 in line with FCA regulations

Plus, when comparing the Standard account vs the Razor account, there are some advantages to selecting the latter:

  • Access to cTrader
  • Faster execution
  • Generally lower fees

Islamic, swap-free trading is only available on the Standard account.

Whilst both trading accounts provide a comprehensive suite of features, the Standard account is best suited to new traders. The Razor account will be attractive to more experienced investors looking to employ more technical strategies, such as scalping or algorithmic trading.

Pros & Cons


  • Demo account
  • Range of payment methods
  • Multiple additional features including copy trading
  • Regulated by reputable bodies, including the FCA
  • Access to industry-leading trading platforms: MT4 and MT5
  • Focus on consumer protection, with negative balance protection and segregated funds


  • No live chat service
  • Limited account options
  • No bonus scheme (a condition of FCA regulation)
  • Fewer assets available compared to other brokers

Trading Hours

Pepperstone trading hours vary depending on the asset being traded. However, most FX pairs are available to trade 24/5. Information on specific asset trading hours is available on the company’s website.

The Pepperstone server time is set at GMT + 3 hours during US daylight saving and GMT +2 outside of this period. This aligns Pepperstone’s chart candles to close in conjunction with the New York Stock Exchange (NYSE).

Customer Support

Pepperstone offers many customer support options:

  • Contact email –
  • UK toll-free phone number – 0800 046 5473
  • Email enquiry form with a 24-hour response rate

Most brokers offer a live chat service, enabling customers to access support instantly. Unfortunately, Pepperstone does not provide this, but it does offer a comprehensive FAQ section with in-depth answers. Customers will find they can self-serve many of the most popular queries.


As well as being heavily regulated, Pepperstone also prioritises client security. All retail funds are kept in a segregated bank account to protect their account balance in the event of liquidation. Plus, Pepperstone is signed up to the Financial Services Compensation Scheme (FSCS) and for those trading on margin, negative balance protection is available.

Should You Trade With Pepperstone?

Pepperstone is popular with traders and it’s easy to see why. Regulated with the FCA, it prioritises client trust, while offering industry-leading platforms in MetaTrader 4 and 5. The option of both Razor and Standard account, means the needs of traders of all levels of expertise are met. Plus, with bespoke features such as copy trading and APIs, there’s sufficient functionality for most trading strategies.


Is Pepperstone A Good Broker?

Pepperstone is a popular broker among traders due to its solid trading platform options, focus on customer security, and strong customer support.

Is Pepperstone An ECN Broker?

Yes, Pepperstone is an ECN broker in that it sources its pricing directly from liquidity providers. These prices are then passed onto the customer without dealing desk intervention.

Is Pepperstone Safe?

Pepperstone is considered a safe broker to trade with. It is regulated by the FCA in the UK, meaning that clients can benefit from negative balance protection and the security of knowing client funds are segregated. Plus, Pepperstone is part of the Financial Service Compensation Scheme (FSCS) which protects traders’ funds in the event the broker goes into liquidation.

Is Pepperstone Good For Scalping?

Pepperstone allows scalping on both Razor and Standard accounts. However, due to the tighter spreads on offer, the Razor account is recommended.

Does Pepperstone Accept PayPal And Bitcoin?

Pepperstone has several payment options, including PayPal. Currently, Bitcoin payments are not accepted. However, this could change as cryptocurrencies become a more popular form of payment.

Compare Pepperstone with Other Brokers

These brokers are the most similar to Pepperstone:

  1. Avatrade - AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for trading, alongside a comprehensive education center and multilingual customer support.
  2. Vantage FX - Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.
  3. IG Index - IG is an award-winning broker that has an excellent reputation globally. The brand 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.

Pepperstone Feature Comparison

Pepperstone Compared With Similar Brokers
Pepperstone Avatrade Vantage FX IG Index
Rating 4.8 4.9 4.7 4.4
Markets Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities Forex, Stocks, Commodities Forex, Stocks, Commodities
Minimum Deposit $0 $100 $50 $0
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Demo Account Yes Yes Yes Yes
Bonus - - - -
Education Yes Yes Yes Yes
Platforms MT4, MT5, cTrader MT4, MT5 MT4, MT5 MT4
Leverage 1:30 (Retail), 1:500 (Pro) 1:30 (Retail) 1:400 (Pro) 1:500 1:30 (Retail), 1:222 (Pro)
Review Pepperstone
Vantage FX
IG Index

Trading Instruments Comparison

Comparison of Pepperstone Trading Instruments
Pepperstone Avatrade Vantage FX IG Index
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Crypto Yes No No No
Commodities Yes Yes Yes Yes
Oil Yes Yes Yes Yes
Gold Yes Yes Yes Yes
Copper Yes Yes Yes Yes
Silver Yes Yes Yes Yes
Corn Yes Yes No No
Futures No No No Yes
Options No Yes No Yes
ETFs Yes Yes Yes Yes
Bonds No Yes Yes Yes
Warrants No No No Yes
Spreadbetting Yes Yes Yes Yes
Volatility Index Yes Yes Yes Yes

Pepperstone vs Other Brokers

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Pepperstone is a leading online broker with over 400,000 clients in more than 175 countries. The top-rated brokerage 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.