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| Category | Details |
|---|---|
| Tradeable Assets | Forex, indices, shares, commodities, metals, ETFs, crypto, spread betting (UK) |
| Min Deposit | No fixed minimum in most regions |
| Forex Majors Spread | About 0.1 pips on EUR/USD (Razor, plus commission); about 1.1 pips (Standard) |
| Regulators | ASIC (Australia), FCA (UK), CySEC (Cyprus), BaFin (Germany), DFSA (Dubai), CMA (Kenya), SCB (Bahamas) |
| Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader, TradingView, Pepperstone web and mobile |
| Funding Methods | Cards, bank transfer, PayPal, Skrill, Neteller and local methods (varies by region) |
| Currency Pairs | 65 currency pairs |
| Available Leverage | Up to 1:30 for retail clients in the UK, EU and Australia; up to 1:200 through the Bahamas entity |
| Broker Type | No dealing desk execution |
| Founded | 2010 |
| Country | Australia (Melbourne), with entities in the UK, Cyprus, Germany, Dubai, Kenya and the Bahamas |
| Free Demo Account | Yes |
| Clients Accepted | Most countries, but not the United States |
| Pricing System | Spread only (Standard) or raw spread plus commission (Razor) |
| Inactivity Fee | No |
Pepperstone was founded in Melbourne in 2010 by traders who wanted faster execution and lower costs than they could get elsewhere. That focus still shows. Its Razor account is one of the cheapest ways to trade major currency pairs, and it supports more serious platforms than almost any other broker: MetaTrader 4 and 5, cTrader, TradingView and its own web and mobile apps.
This review covers Pepperstone’s costs, regulation, platforms and who it suits, based on Pepperstone’s own pages and independent reviews from October 2026.
Pepperstone started in Australia in 2010 and grew quickly among active traders and algorithmic traders thanks to its raw-spread pricing. It added licenses in the UK, Cyprus, Germany, Dubai, Kenya and the Bahamas, and reports daily trading volumes in the billions of dollars.
Recent additions include a new proprietary web platform and mobile app, perpetual CFDs that trade around the clock, a crypto exchange called pcrypto.com for Australian clients, and copy trading powered by Pelican.
Pepperstone runs regulated companies in several regions, and you will be placed with the one for where you live:
Pepperstone does not accept US clients.
Pepperstone lists around 2,600 instruments:
UK and Irish clients can also spread bet. The range is narrower than IG or eToro on shares, but covers everything most forex and index traders need.
Algorithmic traders are well served, with Expert Advisors on MetaTrader, cBots on cTrader and TradingView webhooks.
High-volume traders can join the Active Trader program for commission rebates and spread discounts. A free demo account is available.
Pepperstone accepts clients from most countries through its regional entities. It does not accept US residents. Leverage and products depend on your entity: retail clients in the UK, EU and Australia are capped at 1:30 on major pairs, while clients of the Bahamas entity can use up to 1:200. Crypto CFDs are not available to UK retail clients.
Pepperstone offers copy trading in several forms, depending on your region: its own CopyTrading by Pepperstone service powered by Pelican, cTrader Copy, the MetaTrader Signals market and Signal Start. None of them is as social or as beginner-focused as eToro’s CopyTrader, but they work well for traders already using MetaTrader or cTrader.
Pepperstone does not charge its own fees on most deposits and withdrawals, including international wire transfers. Payment methods include cards, bank transfer and e-wallets such as PayPal, Skrill and Neteller, with availability depending on your region. Card and e-wallet deposits are usually instant, and withdrawals go back to the method you used to deposit.
These are among the lowest costs for a broker with tier-one regulation. If you trade more than a few times a week, Razor is almost always cheaper than Standard.
