Pepperstone Review 2025
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- Excellent choice of trading platforms consisting of MT4/MT5, cTrader, TreadingView and Pepperstone Platform
- Market-leading MT4/MT5 upgrade package, Autochartist, and API trading
- Social trading support via Signal Start, MetaTrader Signals, Copy Trading by Pepperstone, DupliTrade
- Leverage of up to 1:400 depends on jurisdiction and superb trade execution
- Demo accounts have 60-day time limits
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Average Trading Cost EUR/USD
1.1 pips
Minimum Deposit
$0
Editor’s Verdict
Pepperstone shines as a world-class broker for traders prioritizing speed and deep liquidity. Perfect for scalpers and algorithmic traders, the trading infrastructure is top-notch, presenting traders with an excellent choice of institutional-grade trading platforms, API support, competitive trading costs, with raw spreads from 0.0 pips, high-speed trade executions, and a well-balanced asset selection. Although Pepperstone is less than ideal for passive investors, its extensive toolkit, high execution quality, and customization options make it the go-to broker for technical traders requiring precision and flexibility.
Ratings
overall Rating
fee Rating
deposit Withdrawal Rating
asset Rating
account Opening Rating
security Rating
Overview
Headquarters | Australia |
Regulators | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB |
Tier 1 Regulator(s)? | |
Year Established | 2010 |
Execution Type(s) | No Dealing Desk, NDD |
Minimum Deposit | $0 |
Trading Platform(s) | Other, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View |
Average Trading Cost EUR/USD | 1.1 pips |
Average Trading Cost GBP/USD | 1.4 pips |
Average Trading Cost WTI Crude Oil | $2.50 |
Average Trading Cost Gold | $0.15 |
Average Trading Cost Bitcoin | 25 |
Retail Loss Rate | 74-89% |
Minimum Raw Spreads | 0.0 pips |
Minimum Standard Spreads | 1.0 pips |
Minimum Commission for Forex | 6.00 per round lot (cTrader) / $7.00 per round lot (MT4/MT5) |
Funding Methods | (Visa, Mastercard, Bank transfer, Bpay, Paypal, Neteller, Skrill, Union Pay, M-Pesa, FlutterWave, USDT, PayID) |
Islamic Account | |
Signals | |
Managed Accounts |
Who Should Trade with Pepperstone?
Trader Type | Rating | Summary |
Newer Traders | 4/5 | Quality educational content and user-friendly tools, but overall, the broker is better suited for intermediate and advanced traders |
Copy Traders | 4.5/5 | Support for MetaTrader Signals, DupliTrade, and Copy Trading by Pepperstone ensure simple strategy replication |
Swing Traders | 4.5/5 | A diverse array of assets and competitive swaps on platforms designed to support strategy development |
News Traders | 4/5 | Rapid trade execution and deep liquidity allow for timely trades, but macro tools are limited |
Automated Traders | 5/5 | Exceptional execution with MT4/MT5/cTrader, VPS, TradingView, and API support |
Investors | 2.5/5 | Pepperstone is not geared to long-term investing, lacking actual stock ownership or fund access |
Day Traders | 5/5 | A first-class day-trading experience created by low latency, raw spreads, and smart tools |
Scalpers | 5/5 | Ideal for scalpers due to ultra-tight spreads, rapid execution, and customizable platforms |
Pepperstone Highlights 2025
- MT4/MT5 and cTrader platforms for algorithmic traders
- 28-plugin Smart Trader Tools package and Autochartist for enhanced MT4 functionality
- Signal Start and DupliTrade for copy trading, plus the proprietary Copy Trading by Pepperstone
- TradingView for social traders plus a user-friendly mobile app
- Raw spreads from 0.0 pips and low commissions ($6–$7 per round lot)
- Same-day withdrawals for verified traders and 24/5 multilingual support
- Well-balanced asset selection of 1,200+ instruments, including currency indices and ETFs
- Excellent order execution due to deep liquidity pools
- VPS hosting for low-latency 24/5 Forex trading and API access for advanced algo trading
- 24-hour CFD trading on select US-listed equities
- Five-part AI-focused trading strategies using ChatGPT.
Pepperstone Regulation and Security
Compared to close competitors, Pepperstone is licensed by a wide range of top-tier regulatory authorities.
How Does Pepperstone Regulation Measure Up to the Competition?
At DailyForex we appreciate just how critical it is for you that you are placing your hard-earned cash in the hands of a well-regulated broker.
Brokers with at least one tier-1 entity will have a reputation to protect and will be more likely to provide the highest levels of oversight, transparency, and investor protection, across their entire operation.
Regulators like the FCA (UK), ASIC (Australia), or CFTC/NFA (US) impose strict rules relating to capital requirements, client fund segregation, and fair-trading practices. These are designed to minimize the risk of fraud and malpractice, while creating a trusted framework for traders. Tier-1 regulation gives you confidence that your funds are safe with a forex broker that is reliable, well-capitalized, and committed to operating under the most stringent global regulatory standards.
Number of Tier 1 Regulators:
Pepperstone | FX Pro | IC Markets |
|---|---|---|
5 | 2 | 2 |
Pepperstone presents clients with seven well-regulated subsidiaries.
Country of the Regulator | United Arab Emirates, Australia, The Bahamas, Cyprus, Germany, Kenya, United Kingdom |
|---|---|
Name of the Regulator | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB |
Regulatory License Number | 414530, 91279, 128, 388/20, F004356, 684312, F217 |
All client deposits remain segregated from corporate funds held at Tier 1 banks. As an active high-frequency trader, I prefer the Kenyan subsidiary over the Bahamas, as it offers negative balance protection plus maximum leverage of 1:400. Traders at the Bahamas unit get 1:500 in a Pro account or 1:200 in a Retail account, both without negative protection. Pepperstone is a global brand with a spotless record and a reputation to maintain. Therefore, I am confident trading from the CMA-licensed subsidiary. Each trader must weigh what matters most to their trading style.
Pepperstone Australia
Pepperstone Australia offers maximum leverage of 1:30, negative balance protection, but no compensation scheme for depositors.
Pepperstone UK
Pepperstone UK offers maximum leverage of 1:30, negative balance protection, and the best regulatory mandated compensation scheme up to £85,000 per client.
Does Pepperstone accept US clients?
No, Pepperstone is regulated in the UK and Australia but is not licensed to operate in the United States. Check the best forex brokers in the USA accepting U.S.-based traders.
Pepperstone Fees
HOW WE TEST BROKER FEES
At DailyForex, we review broker fees by opening live accounts and trading multiple asset classes to assess spreads, commissions, and overall trading costs. We compare each broker’s fees against industry averages for major currency pairs. We also assess deposit, withdrawal, inactivity, and swap fees, rewarding price competitiveness and transparency. Learn more here.
How Do Pepperstone Fees Stack Up to Competitors?
Competitive trading costs are hugely important when choosing a forex broker, directly impacting your bottom line, especially if you are someone who trades frequently.
The EUR/USD pair is the most liquid and heavily traded currency pair, making it the best benchmark for spreads and commissions. Any forex broker that offers consistently low costs on EUR/USD will typically provide competitive pricing across other major, minor and exotic pairs as well. Lower costs mean that more of your profits stay in your pocket, and over time this can lead to significant savings, as less of your earnings are lost to fees.
Average Trading Cost EUR/USD:
Pepperstone | FX Pro | IC Markets |
|---|---|---|
1 | 1.4 | 0.8 |
Pepperstone’s trading costs are highly competitive, particularly for active traders using the Raw account. Spreads start from 0.0 pips, with commissions between $6 (cTrader) and $7 (MT4/MT5) per round lot. There are no deposit or inactivity fees, and withdrawal charges only apply for certain payment methods such as international wire transfers.
Average Trading Cost EUR/USD | 1.1 pips |
|---|---|
Average Trading Cost GBP/USD | 1.4 pips |
Average Trading Cost WTI Crude Oil | $2.50 |
Average Trading Cost Gold | $0.15 |
Average Trading Cost Bitcoin | 25 |
Minimum Raw Spreads | 0.0 pips |
Minimum Standard Spreads | 1.0 pips |
Minimum Commission for Forex | 6.00 per round lot (cTrader) / $7.00 per round lot (MT4/MT5) |
Deposit Fee | |
Withdrawal Fee | |
Inactivity Fee | $0 |
Minimum Spread | Commission per Round Lot | Cost per 1.0 Standard Lot |
|---|---|---|
1.0 pips | $0.00 | $10.00 |
0.0 pips | $7.00 (MT4/MT5) | $7.00 |
0.0 pips | $6.00 (cTrader) | $6.00 |
Here is a screenshot of the Pepperstone MT4 trading account during the most liquid overlap session, London-New York, where traders usually get the lowest spreads.
Pepperstone Spreads
The average spread observed for the benchmark EUR/USD during the London-New York session is 0 pips plus a commission of $7, lowered to $5.95 via the Active Trader Program, which I like, as it increases profits per trade. Meanwhile, the cTrader commission is an attractive $6, equivalent to a spread between 0.6 and 0.7 pips. Commissions on equity CFDs can be as low as 0.07%, averaging 0.10%, which is also competitive. Another fact I appreciate is the absence of an inactivity fee. Pepperstone levies a fixed administration fee on trades held for more than ten trading days.
One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs.
MT4/MT5 traders can easily access swap rates from their platform by following these steps:
1. Right-click on the desired symbol in the Market Watch window and select Specification.
2. Scroll down until you see Swap Long and Swap Short.
Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission-based Pepperstone Razor account.
Taking a 1 standard lot buy/sell position, in the EUR/USD at the tightest spread, and holding it for one night, costs the following:
Minimum Spread | Commission per Round Lot | Swap Long | Swap Short | Total Trading Costs |
|---|---|---|---|---|
0.0 pips | $7.00 | -$4.23 | X | $11.23 |
0.0 pips | $7.00 | X | -$0.48 | $7.48 |
Taking a 1 standard lot buy/sell position, in the EUR/USD at the tightest spread and holding it for seven nights costs the following:
Minimum Spread | Commission per Round Lot | Swap Long | Swap Short | Total Trading Costs |
|---|---|---|---|---|
0.0 pips | $7.00 | -$29.61 | X | $36.61 |
0.0 pips | $7.00 | X | -$3.36 | $10.36 |
Noteworthy:
- cTrader traders pay a commission of $6.00 per 1.0 standard round lot instead of $7.00.
Pepperstone Deposits and Withdrawals
The available choice of payment methods at Pepperstone is a well-balanced mix. However, the broker is missing a cryptocurrency option. There are no internal deposit or withdrawal fees, except for a $20 bank wire charge, which applies everywhere. I want to point out that traders will pay third-party payment processor costs, which Pepperstone does not control. Traders will make all financial transactions from the secure back office, and I find the available payment methods offer all types of traders a decent option.
Pepperstone Withdrawals
Pepperstone withdrawals are hassle-free from the back office and fast. I appreciate brokers who ensure that withdrawing funds is as straightforward and without delays as depositing. There are no fees, except for bank wires, USDT and China UnionPay. Traders should check payment processor costs to determine the most efficient method, which varies by geographic location. I recommend traders use third-party payment methods to keep their trading activity separate from their day-to-day banking operations.
Bottom Line
Pepperstone has earned its reputation as a market leader for high-frequency, algorithmic, and intraday trading. While not ideal for long-term investors or those implementing passive strategies, for active market participants, Pepperstone is a standout choice. Its unmatched execution speeds, broad platform support, and smart trading tools make it a top broker for performance-driven traders.