Pepperstone Review 2024

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4.8

Pepperstone is #7 in our rankings of CFD brokers.

Pepperstone Facts & Figures

Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for traders at all levels.

Pros
  • Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for trading.
  • There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
  • Pepperstone emerges as a low-cost broker, especially for serious traders with spreads from 0.0 in the Razor account and rebates of 25%+ through the Active Trader program.
  • Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.
  • Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.
Cons
  • There’s no simplified proprietary trading platform, nor are there any social trading features, which could be a disadvantage if you are new to trading.
  • Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
  • Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.
  • Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
Awards
  • Best Forex Broker - DayTrading.com 2024
  • Best Overall Broker - DayTrading.com 2023
  • Best Trading App - DayTrading.com 2022
  • Best Forex Broker - DayTrading.com 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 - Compareforexbrokers.com 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
Mobile Apps iOS & Android
Trading App

Pepperstone excels for its excellent integration with the MT4, MT5, cTrader, and TradingView apps, making it a standout option for traders familiar with these leading third-party trading solutions. Despite the absence of a proprietary app, these platforms deliver a stable and reliable mobile trading experience, enhanced by Pepperstone’s almost unrivalled execution speeds and wide range of asset classes.

iOS App Rating
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4.4
Android App Rating
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4.1
Payments
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 No
Copy Trading Yes
Auto Trading Expert Advisors (EAs) on MetaTrader
Signals Service Yes (Via Chartist Software)
Islamic Account Yes
Commodities
  • Gold
  • Silver
  • Oil
  • Corn
  • Palladium
  • Precious Metals
  • Platinum
  • Copper
  • Gasoline
  • Cocoa
  • Coffee
  • Cotton
  • Livestock
  • Sugar
  • Wheat
  • Natural Gas
  • Soybeans
  • Orange Juice
  • Aluminium
  • Nickel
  • Zinc
CFDs Pepperstone maintains its position as one of the fastest and most dependable CFD brokers during our latest round of testing. With execution speeds averaging around 30ms and an outstanding fill rate of 99.90%, the broker ensures a seamless trading experience without requotes or dealing desk interference. It also provides ample trading opportunities across over 1,300 assets.
Leverage 1:30 (Retail), 1:500 (Pro)
FTSE Spread 1.0
GBPUSD Spread 0.4
Oil Spread 2.5
Stocks Spread 0.02
Forex Pepperstone offers ultra-competitive forex spreads averaging 0.12 pips on EUR/USD in the Razor account, accompanied by a diverse portfolio comprising 100+ currency pairs - an extensive selection surpassing most competitors. Additionally, Pepperstone distinguishes itself by offering three currency indices (USDX, EURX, JPYX), not commonly found among alternative platforms. Pepperstone has now won our annual 'Best Forex Broker' award twice.
GBPUSD Spread 0.4
EURUSD Spread 0.1
GBPEUR Spread 0.4
Assets 100+
Currency Indices
  • USD
  • EUR
  • JPY
Stocks Pepperstone presents a huge suite of share CFDs spanning the US, UK, Australian, and European stock markets. Whether you’re interested in iconic names like Tesla, Apple, or Netflix, Pepperstone provides the flexibility to take long or short positions, backed by deep liquidity and competitive commissions. The platform has also introduced 24-hour trading on 37 US stock CFDs, providing opportunities to trade following earnings reports and unexpected news.
Cryptocurrency Pepperstone continues to prove itself as one of the most trusted crypto brokers. Although its selection of digital tokens is average, you can trade popular cryptos like Bitcoin and altcoins like Ripple with up to 1:10 leverage, while its crypto indices provide a holistic view of the digital currency markets not found on most trading platforms.
Coins
  • 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 extends financial spread betting services to both retail and professional traders, enabling you to speculate on forex, indices, shares, and more. Additionally, Pepperstone offers comprehensive training resources if you are new to spread betting, helping to facilitate your journey into this tax-efficient form of trading. Pepperstone also now offers spread betting on TradingView, making it one of a handful of brokers that provide this service.
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

MT4

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

MT5

cTrader

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

cTrader

Products

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

Advantages

  • 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

Disadvantages

  • 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 – support@pepperstone.com
  • 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.

Security

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.

FAQs

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. IG Index - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
  2. IC Markets - IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
  3. 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, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.

Pepperstone Feature Comparison

Pepperstone Compared With Similar Brokers
Pepperstone IG Index IC Markets AvaTrade
Rating 4.8 4.4 4.8 4.9
Markets Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities
Minimum Deposit $0 $0 $200 $100
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Demo Account Yes Yes Yes Yes
Regulators FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA ASIC, CySEC, FSA, CMA ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM
Bonus - - - -
Education Yes Yes Yes Yes
Platforms MT4, MT5, cTrader MT4 MT4, MT5, cTrader MT4, MT5
Leverage 1:30 (Retail), 1:500 (Pro) 1:30 (Retail), 1:222 (Pro) 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) 1:30 (Retail) 1:400 (Pro)
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IC Markets
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AvaTrade
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Trading Instruments Comparison

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

Pepperstone vs Other Brokers

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Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for traders at all levels.