Based in Australia, Pepperstone Limited was established in 2010. It has grown exponentially over the course of the past 9 years despite being a relatively newcomer in the industry. It is now one of the largest forex and CFD brokers in the world, and highly regarded by experienced investors and industry professionals alike.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.



  • Great customer service
  • User-friendly and fast account opening
  • Easy-to-use and good-looking platforms


  • Limited product portfolio
  • Limited research
  • Limited education

Account Types

For interested parties, Pepperstone offers a range of account types to choose between. This variety ensures that the individual’s trading needs can be adequately met, and we must concede that there is something for everyone from this popular broker. From the company’s commission free standard account through to their 0 spread active traders option, interbank pricing, cutting edge technology, and deep liquidity are included as standard, which means there really is no bad option.

Key account benefits are as follows:

  • Standard account: $0 commission and institutional grade STP spreads.
  • Razor account: Spreads from 0.0 pips.
  • Swap-free account: Interest free, $0 commission, and STP spreads.
  • Active traders account: Spreads from 0.0 pips and a setup specially formulated for high volume and institutional traders.

Demo Account

As a potential client, it’s always interesting to see what a broker’s demo offering looks like. In the case of Pepperstone, a 30 day practice trading account is available to anyone wishing to trial a potential partnership with the company, with £50,000 of virtual funds included. Those who would like to get a feel for the technology and overall offerings are even treated to a choice of two different platforms: MetaTrader 4 or cTrader, depending upon their personal preference. This allows would-be investors to get a genuine sense of what Pepperstone could offer them, and helps to demonstrate the company’s commitment to offering a high quality product that suits the needs of their clientele.


Pepperstone offers a broad range of platforms to suit every investment and trading style. Customers can choose between MetaTrader 4/5 and cTrader, a higher end system with direct liquidity provider pricing and advanced technical features that include detachable charts, back-testing, and algorithmic strategy support. Smart Trader Tools for MT4 extend technical functionality, adding a suite of apps that assist trade execution, market research, and depth of market analysis.

The broker’s web site is easy to navigate but recent developments and initiatives aren’t well integrated. For example, account type descriptions refer to MetaTrader 4 but not 5, raising confusion that required clarification through online chat. As the live representative admitted: “MT 5 is new while the web site is old.” A similar issue was found with research materials no longer available at a dedicated website that has been taken offline. Fee disclosures would also benefit from a single web location or menu drop-down.


Spreads on Pepperstone’s popular MetaTrader 4 platform are arguably variable, with quotes sourced from around 22 major banks and electronic crossing networks. This is a good indication of the company’s commitment to offering clients the best prices possible, and during liquid times, the broker has been known to drop to as little as 0.0 pips on their EUR/USD pairing.

The same minimum spread value can be seen for many other AUD and EUR combination pairings, and the company’s website has a handy chart detailing both minimum and average spread values for each of the currency pairs they offer, as well as a rundown of their (minimal) commission charges and estimated upfront costs.


With regards to leverage, Pepperstone varies the amount on offer depending on whether you qualify as a professional or retail client. For the former, a ratio of up to 500:1 may be made available; for the latter, this is limited to a figure of 30:1. This discrepancy is a significant tick in the broker’s favour, as it indicates a willingness to take care of the individual client’s best interests, as well as demonstrating the flexibility of their approach.

Payment Methods

Credit cards (VISA, MasterCard, Debit)





Transfer from existing broker


Popular, rapidly expanding, and highly respected within the industry, Pepperstone has earned its place as one of the foremost forex and CFD brokers in the world. Providing state of the art technology, great customer service, and a user friendly interface, it’s undoubtedly an attractive option for those looking to enter the markets, with potential clients unlikely to be disappointed by its exceptionally strong offerings.

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