Pepperstone Overall rating
| Rating | Weight | |
| User Rating |
4.3 (101 reviews)
 |
3 |
| Popularity |
4.0
|
3 |
| Regulation |
5.0
|
2 |
| Pricing rating |
4.5
|
1 |
| Features |
Not rated
|
1 |
| Customer Support |
Not rated
|
1 |
Pros
- Highly rated by users with a rating of 4.3 out of 5
- Well-regulated by multiple authorities, ensuring client fund safety
- Competitive spreads across various asset classes
- Wide range of tradable instruments including Forex, Crypto, and Stock CFDs
- Advanced trading platforms including MetaTrader 4, MetaTrader 5, TradingView, and cTrader
- Popular among users with high web traffic and activity
Cons
- Not licensed as a bank
- Does not provide financials publicly
- Relatively higher swap rates compared to some competitors
We tested Pepperstone using real-money live accounts. Our reviews are unique in that they do not have any bias for or against any broker and are driven purely on the underlying data we compile from live account testing, regulatory data, and opinions from customers. We list all brokers and do not charge a fee for it. We offer additional visibility for a fee, but our review content cannot be influenced. Read our About Us page to read our editorial guidelines and how we make money.
Trustworthiness & Regulation
Pepperstone is a well-established broker founded in 2010, which has built a strong reputation in the forex industry. It is regulated by several top-tier regulatory bodies including the Cyprus Securities and Exchange Commission (CY CySEC), the Australian Securities and Investments Commission (AU ASIC), the UK's Financial Conduct Authority (UK FCA), the Kenya Capital Markets Authority (KE CMA), the Bahamas Securities Commission (BS SCB), and the Dubai Financial Services Authority (AE DFSA). This wide array of regulatory oversight ensures a high level of trust and safety for client funds.
The broker enjoys a high level of popularity and web traffic, with 1,355,772 organic monthly visits, ranking 25th out of 1102 forex brokers for organic traffic. User reviews are overwhelmingly positive, with a rating of 4.3 out of 5 based on 101 total reviews, 96 of which are from users with verified real trading accounts.
Pepperstone is ranked 28th out of 1102 forex brokers based on user ratings and 18th based on our expert's rating. It has a popularity rating of 4.0 out of 5, reflecting its strong presence in the market.
| Company | Licenses & Regulations | Segregated Client Money | Deposit Compensation Scheme | Negative Balance Protection | Rebates | Max. Leverage Retail Clients |
|---|---|---|---|---|---|---|
| Pepperstone Group Limited |
|
 |
|
|
30 : 1 | |
| Pepperstone EU Limited |
|
up to €20,000
|
|
|
30 : 1 | |
| Pepperstone Limited |
|
up to £85,000
|
|
Professional Clients Only
|
30 : 1 | |
| Pepperstone Markets Limited |
|
|
|
|
200 : 1 | |
| Pepperstone Markets Kenya Ltd |
|
|
|
|
400 : 1 | |
| Pepperstone Financial Services (DIFC) Limited |
|
|
|
|
30 : 1 |
Deposit Insurance
Pepperstone offers deposit insurance and investor compensation schemes under its regulatory frameworks. For instance, clients under the Cyprus Securities and Exchange Commission (CY CySEC) and the UK's Financial Conduct Authority (UK FCA) benefit from compensation schemes that protect their deposits if the broker fails.
Additionally, client funds are segregated from the company’s operational funds across all regulatory jurisdictions, ensuring added security. However, it's important to note that while Pepperstone is well-regulated, even highly regulated and successful financial firms have failed in the past, so it's crucial to remain informed and cautious.
Spreads and Costs
Pepperstone offers competitive spreads across various asset classes, which are generally in-line with or lower than the industry average. The broker's forex spreads, for instance, average 1.87 pips, which is competitive compared to other leading brokers.
Commodity spreads are also attractive at 0.10 pips on average, while indices average 2.26 pips, making Pepperstone a cost-effective choice for traders.
Combined Spread/Commission Costs by Asset Class Compared to Market Leading Brokers
| Broker - Account Type | Crypto Average | Forex Average | Indices Average | Commodities Average |
|---|---|---|---|---|
| Pepperstone – Standard | 10.42 | 1.87 | 2.26 | 0.10 |
| Vantage Markets – Standard | 8.67 | 1.93 | - | 0.11 |
| IC Markets – Standard | 9.29 | 1.51 | 1.23 | 0.10 |
| XM – Standard | 39.18 | 2.46 | 4.02 | - |
| FxPro – Standard | - | 2.56 | 3.68 | - |
| ThinkMarkets – Standard | 24.73 | 3.80 | 3.02 | 0.20 |
| HFM – Premium | 35.34 | 1.49 | 21.61 | 0.13 |
Crypto averages comprise (BTCUSD, ETHUSD), forex averages comprise (EURUSD, USDJPY, GBPJPY, EURGBP, AUDNZD, CADCHF), indices averages comprise (US30, AUS200), and commodities average comprises (XAUUSD, XAGUSD) and that data is sampled every 10 seconds for 24 hours to calculate the average. Forex is stated in pips, and the others are stated in base currency. All spreads including both spread and commission calculated in.
Our data comes from our sophisticated spread analyzer tool, which collects live account information and syncs with our performance analytics system. To compare all brokers and instruments with the latest live data, visit our spread analyzer tool. A spread is the difference between the bid (sell) and ask (buy) price of an asset and can vary widely between brokers and account types.
Some brokers charge higher spreads but no commission, while others charge both, making it crucial to assess the total cost, which includes both spread and commission. Our values reflect this all-in cost. Note that some brokers may set low costs on popular pairs like EURUSD but higher rates on other instruments.
Many brokers also advertise "as low as" spreads that may not reflect the true average or include commissions. Comparing true all-in cost averages across various instruments and asset classes is vital for accurate assessment.
Combined Spread/Commission Costs Per Instrument Compared to Market Leading Brokers
| Broker - Account Type | BTCUSD | ETHUSD | EURUSD | USDJPY | GBPJPY | EURGBP | AUDNZD | CADCHF | AUS200 | US30 | XAUUSD | XAGUSD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Pepperstone – Standard | 17.84 | 3.00 | 1.11 | 1.32 | 2.79 | 1.47 | 2.54 | 2.02 | 1.67 | 2.84 | 0.17 | 0.02 |
| Vantage Markets – Standard | 14.73 | 2.61 | 1.39 | 1.75 | 2.33 | 1.52 | 2.48 | 2.09 | - | - | 0.19 | 0.03 |
| IC Markets – Standard | 15.59 | 3.00 | 0.88 | 1.14 | 1.81 | 1.37 | 2.35 | 1.49 | 1.51 | 0.96 | 0.18 | 0.02 |
| XM – Standard | 73.20 | 5.15 | 1.28 | 1.56 | 3.55 | 2.33 | 3.34 | 2.69 | 3.54 | 4.49 | - | - |
| FxPro – Standard | - | - | 1.32 | 1.64 | 3.51 | 1.58 | 3.90 | 3.40 | 4.73 | 2.63 | - | - |
| ThinkMarkets – Standard | 46.13 | 3.32 | 2.56 | 3.51 | 4.64 | 2.74 | 6.00 | 3.37 | 3.34 | 2.70 | 0.33 | 0.06 |
| HFM – Premium | 38.41 | 3.61 | 1.74 | 2.51 | 3.99 | 2.20 | 4.03 | 2.82 | 2.27 | 6.01 | 0.32 | 0.04 |
Swap Rates/Financing Fees
Swap fees are the costs of holding a trading position overnight. Positive swap rates pay out to the trader, while negative swap rates cost the trader money. Pepperstone's swap rates are generally competitive but slightly higher on average compared to some leading brokers.
| Broker | Best | Average | NZDUSD Swap Short | NZDUSD Swap Long | USDJPY Swap Short | USDJPY Swap Long | XAUUSD Swap Short | XAUUSD Swap Long |
|---|---|---|---|---|---|---|---|---|
| Pepperstone | - | -3.00 | -0.14 | -0.14 | -2.70 | 1.30 | 22.99 | -39.29 |
| Vantage Markets | - | -2.34 | -0.19 | -0.25 | -2.72 | 1.03 | 18.90 | -30.80 |
| IC Markets | Best | -2.27 | -0.10 | -0.14 | -2.59 | 1.25 | 20.78 | -32.84 |
| XM | - | -5.29 | -0.15 | -0.19 | -3.73 | 1.12 | 19.67 | -48.45 |
| FxPro | - | -4.03 | -0.14 | -0.15 | -3.33 | 1.02 | 19.15 | -40.75 |
| ThinkMarkets | - | -3.27 | -0.14 | -0.14 | -2.61 | 1.08 | 19.57 | -37.37 |
| HFM | - | -7.43 | -0.14 | -0.15 | -3.58 | 0.00 | 0.00 | -40.72 |
Does Pepperstone Offer Islamic/Swap-free Accounts?
Islamic accounts, also known as swap-free accounts, are designed for traders who cannot receive or pay interest due to their religious beliefs. These accounts do not incur swap or rollover interest on overnight positions.
Pepperstone offers Islamic accounts that comply with Sharia law. Traders must apply for this account type and meet specific requirements set by the broker. For more details, visit Pepperstone’s official website.
Other Fees
Besides spreads, commissions, and swap rates, Pepperstone charges other fees which traders should be aware of:
| Fee Type | Details |
|---|---|
| Withdrawal Fees | Free for most methods, but fees may apply for international bank transfers. |
| Inactivity Fees | None |
| Deposit Fees | Free for most methods, but some payment providers may charge a fee. |
Comparison to other Brokers
Pepperstone stands out among other brokers for its strong regulatory framework, being overseen by top-tier regulators such as CY CySEC, AU ASIC, UK FCA, KE CMA, BS SCB, and AE DFSA. This extensive regulation provides a high level of trust and security for clients.
In terms of user reviews, Pepperstone is highly rated with a score of 4.3 out of 5, based on 101 reviews, 96 of which are from verified real trading accounts.
Compared to industry-leading brokers like IC Markets, Vantage Markets, XM, FxPro, ThinkMarkets, and HFM, Pepperstone offers competitive spreads and costs. Its forex average spread of 1.87 pips is competitive, though not the lowest, and its commodities average of 0.10 pips is among the best. However, its swap rates are slightly higher than some competitors.
Pepperstone also enjoys high popularity and web traffic, with 1,355,772 organic monthly visits, ranking 25th among 1102 brokers. The broker has been in business since 2010, making it a well-established entity in the forex market.
Trading Platforms - Mobile, Desktop, Automated
| Platform | Device | Automated Trading |
|---|---|---|
| MetaTrader 4 | Desktop, Mobile, Web | Yes, MQL4 |
| MetaTrader 5 | Desktop, Mobile, Web | Yes, MQL5 |
| TradingView | Mobile, Web | Yes, Pine Script |
| cTrader | Desktop, Mobile, Web | Yes, cAlgo (C#) |
| Pepperstone Trading Platform | Mobile, Web | - |
Pepperstone offers a variety of trading platforms to cater to different trading needs. MetaTrader 4 and MetaTrader 5 are well-known for their robust charting capabilities and support for automated trading through MQL4 and MQL5 respectively.
TradingView is popular for its user-friendly interface and advanced charting tools, with automated trading support via Pine Script. cTrader is another powerful platform known for its intuitive interface and support for automated trading using cAlgo in C#.
The Pepperstone Trading App provides a mobile trading solution but does not support automated trading. Each of these platforms offers unique features and benefits, making Pepperstone a versatile choice for traders with varying preferences and trading styles.
What Can you Trade?
| Asset Class | Number of Instruments |
|---|---|
| Forex CFD | 90+ |
| Crypto CFD | 25+ |
| Stock CFD | 900+ |
| Stock Index CFD | 20+ |
| Commodities CFD | 30+ |
| ETFs | 100+ |
| Bond CFD | - |
| Futures CFD | - |
Pepperstone offers a wide range of tradable instruments across various asset classes. These include over 90 Forex CFDs, more than 25 Crypto CFDs, over 900 Stock CFDs, more than 20 Stock Index CFDs, and 30+ Commodities CFDs. Traders can access a diverse portfolio of instruments, enabling them to diversify their trading strategies.
It is important to note that Pepperstone primarily offers CFD trading, which allows traders to speculate on price movements without owning the underlying asset. This type of trading provides leverage, which can amplify both gains and losses. For more information on the specific instruments available, visit Pepperstone’s official website.
Available Leverage
Pepperstone offers different leverage levels depending on the regulatory jurisdiction. For clients under CY CySEC, AU ASIC, UK FCA, and AE DFSA regulations, the maximum leverage for retail clients is 30:1.
In Kenya (KE CMA), the maximum leverage is significantly higher at 400:1, and in the Bahamas (BS SCB), it is 200:1. The Bahamas entity also offers leverage up to 500:1 for professional clients only. These leverage levels allow traders to control larger positions with a smaller amount of capital, but it is important to use leverage cautiously as it can increase both potential profits and losses.
Prohibited Countries
Pepperstone cannot open client accounts for residents of certain countries due to regulatory restrictions. These prohibited countries typically include the United States, Canada, Japan, Iran, Iraq, and some other jurisdictions where local laws prohibit or restrict the offering of certain financial products.
For a complete list of prohibited countries, it is advisable to check directly on Pepperstone’s official website or contact their customer support.
Pepperstone Account types
| Standard | Edge Razor | |
| Commission | - | $3.50 Per Side Per Lot |
| Maximum leverage | 400:1 | |
| Mobile Platform | cTrader Mobile, MT4 Mobile, MT5 Mobile, Proprietary, TradingView Mobile | |
| Trading platform | cTrader, MT4, MT5, TradingView | |
| Spread Type | Variable Spread | |
| Minimum Deposit | 200 | |
| Minimum Trade Size | 0.01 | |
| Trailing Stops | | |
| Scalping Allowed | | |
| Hedging Allowed | | |
| Islamic Accounts | | |
| Standard | |
| Maximum leverage | 400:1 |
| Typical Spread | 0.5-1.8 |
| Trading platform | cTraderMT4MT5TradingView |
| Mobile platform | cTrader MobileMT4 MobileMT5 MobileProprietaryTradingView Mobile |
| Spread type | Variable Spread |
| Minimum deposit | 200 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
| Edge Razor | |
| Commission | $3.50 Per Side Per Lot |
| Maximum leverage | 400:1 |
| Typical Spread | 0.0-1.0 |
| Trading platform | cTraderMT4MT5TradingView |
| Mobile platform | cTrader MobileMT4 MobileMT5 MobileProprietaryTradingView Mobile |
| Spread type | Variable Spread |
| Minimum deposit | 200 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
Pepperstone Web traffic
Our web traffic data is sourced from SimilarWeb and sums the traffic data of all websites associated with a broker. Organic visits are visits the broker didn't pay for, based on the available data. This data updates once monthly and can be based on data purchased from internet service providers, traffic metrics sourced by a third party such as Google Analytics that the company chooses to share with SimilarWeb, etc.
| Websites |
trk.pepperstonepartners.com
pepperstone.com
|
| Organic monthly visits | 1,223,401 (99%) |
| Organic traffic rank | 26 out of 827 (Forex Brokers) |
| Paid monthly visits | 15,941 (1%) |
| Total monthly visits | 1,239,342 |
| Bounce rate | 43% |
| Pages per visit | 1.85 |
| Average visit duration | 00:00:55.6140000 |
Pepperstone Profile
| Company Name | Pepperstone Group / Pepperstone Markets Limited |
| Categories | Forex Brokers, Forex Rebates |
| Primary Category | Forex Brokers |
| Year Founded | 2010 |
| Headquarters | Australia |
| Office Locations | Bahamas, China, Thailand, Ukraine, United Kingdom, United States |
| Account Currency | AUD, CAD, CHF, EUR, GBP, JPY, NZD, SGD, USD, HKD |
| Client funds bank | National Australian Bank (NAB) |
| Support Languages | Arabic, Chinese, English, French, German, Italian, Spanish, Thai, Vietnamese |
| Funding Methods | Bank Wire, BPAY, China Union Pay, Credit/Debit Card, Neteller, PayPal, POLi, Skrill, Local Bank Transfer |
| Financial Instruments | Forex, Shares, Indices, Oil/Energies, Cryptocurrencies, Metals, ETFs, Soft Commodities (coffee, sugar...) |
| Prohibited Countries | Afghanistan, Armenia, Antarctica, American Samoa, Azerbaijan, Bosnia and Herzegovina, Belgium, Burundi, Bhutan, Belarus, Belize, Canada, Central African Republic, Congo, Ivory Coast, Cameroon, Western Sahara, Eritrea, French Guiana, Guinea, Guadeloupe, South Georgia and the South Sandwich Islands, Guam, Guinea Bissau, Guyana, Haiti, Iraq, Iran, Japan, St Kitts and Nevis, North Korea, South Korea, Kazakhstan, Lebanon, Liberia, Libya, Mali, Myanmar, Martinique, Mozambique, Nicaragua, New Zealand, French Polynesia, Puerto Rico, Reunion, Russia, Sudan, Somalia, Suriname, Syria, Turks and Caicos Islands, Chad, Tajikistan, Turkmenistan, Tunisia, United States, Uruguay, Saint Vincent and the Grenadines, Venezuela, Virgin Islands, U.s., Vanuatu, Samoa, Yemen, Mayotte, Zimbabwe, Palestine, Holy See (Vatican City State), St Lucia, South Sudan |
24 hour support
Segregated Accounts
Islamic Accounts
Accepts Canadian clients
Accepts Japanese Clients
Non expiring demo
Trading API
Cent accounts
Negative balance protection
Social trading
Regulatory deposit insurance
Trailing stops
Bonuses
Interest on margin
Fixed spread
Variable spread
Pepperstone User reviews
)
Newer user ratings have greater impact than older ratings and user ratings have no impact after 5+ years old. The more reviews a company receives, the higher the maximum possible aggregate user rating. After 100 reviews a company can receive the highest rating, which is an average of their user ratings.
We display the reviews we reject as spam or vote fraud. Not all rejected reviews are displayed, for example reviews advertising a website or service.
Pepperstone Cashback rebates
| Standard | Edge Razor | |
| Forex | FX Majors: 0.30 Pips FX Others: 0.375 Pips | Monthly Cash Back 1.24 USD 1.15 AUD 0.86 EUR 0.76 GBP 1.09 CHF 1.15 CAD 1.50 SGD 1.57 NZD 9.29 HKD 100.14 JPY --OR-- Paid Direct to Your Broker Account 12.857% Of Commissions Paid + Monthly Cash Back 3.64% Of Commissions Paid |
| Other | No Rebates Paid | |
| Payment Options |
Direct to broker account (Daily)
Monthly Cash Back
| |
| Standard | |
| Forex |
FX Majors: 0.30 Pips FX Others: 0.375 Pips |
| Other | No Rebates Paid |
| Payment Options |
Direct to broker account (Daily)
Monthly Cash Back
|
| Edge Razor | |
| Forex |
Monthly Cash Back 1.24 USD 1.15 AUD 0.86 EUR 0.76 GBP 1.09 CHF 1.15 CAD 1.50 SGD 1.57 NZD 9.29 HKD 100.14 JPY --OR-- Paid Direct to Your Broker Account 12.857% Of Commissions Paid
+ Monthly Cash Back 3.64% Of Commissions Paid |
| Other | No Rebates Paid |
| Payment Options |
Direct to broker account (Daily)
Monthly Cash Back
|
Notes
Rebate is converted to USD upon trade close.
Rebates are not paid for:
- Accounts registered with: CySEC, German BaFin entities
- Residents of Japan, Mainland China, France, Belgium
- Islamic, Spread Betting or Active Trader accounts
- EU and UK retail accounts
What are Pepperstone rebates?
Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.
How do Pepperstone rebates work?
When you link a new or existing forex trading account to us the broker pays us part of their spread or commission profit for every trade you make as compensation for referring a customer to them. We then share the majority of our revenue with you, paying you a cash rebate for each trade you make as thank you for signing up with us.Unlike some of our competitors your spreads will never increase as a result of using our service! The only difference is: as our client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker. Founded in 2007, we are the original and leading provider of forex rebates. We pay rebates to over 100,000 accounts and traders love our helpful 24 hour live chat, telephone and email support.
How much Pepperstone rebates can I earn?
Pepperstone Regulation / Money Protection
| Company | Licenses & Regulations | Segregated Client Money | Deposit Compensation Scheme | Negative Balance Protection | Rebates | Max. Leverage Retail Clients |
|---|---|---|---|---|---|---|
| Pepperstone Group Limited |
|
|
|
|
30 : 1 | |
| Pepperstone EU Limited |
|
up to €20,000
|
|
|
30 : 1 | |
| Pepperstone Limited |
|
up to £85,000
|
|
Professional Clients Only
|
30 : 1 | |
| Pepperstone Markets Limited |
|
|
|
|
200 : 1 | |
| Pepperstone Markets Kenya Ltd |
|
|
|
|
400 : 1 | |
| Pepperstone Financial Services (DIFC) Limited |
|
|
|
|
30 : 1 |
Pepperstone Promotions
Pepperstone Symbols
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