Pepperstone offers 2 account types for live trading, Standard-, Razor accounts. Pepperstone does not have an exclusive platform but offers the full MetaTrader and cTrader suites, including MT4 (desktop and web), MT4 Multi-terminal, MT5, cTrader (desktop and web), and cAlgo. Traders can use the account types with any platform.
Pepperstone at a Glance
|🔎 Broker’s Name||Pepperstone|
|📍 Headquartered||Melbourne, Australia|
|📅 Year Founded||2010|
|⚖️ Regulating Authorities||FCA and ASIC and AFSL|
|👍 Demo Account||Yes, available for 30 days|
|💰 Minimum Deposit||200 AUD / R 2191 ZAR|
|🌐 Countries not accepted for trade||United States, India, New Zealand, Brazil|
|📊 Accounts||Razor & Standard Accounts|
|📎 Bonus||No Sign-up bonus|
|☪️ Islamic account (swap-free)||Yes, available on Standard and Razor accounts|
|📊 Institutional Accounts||Yes|
|📊 Managed Accounts||Yes|
|📈 Maximum Leverage||1:200 for retail clients and up to 1:500 for elective professional clients|
|💳 Deposit Options||Credit/Debit Card, PayPal, POLi, China Union Pay, Skrill, Neteller, Broker to Broker (B2B)|
|💳 Withdrawal Options||Credit/Debit Card, PayPal, POLi, China Union Pay, Skrill, Neteller, Broker to Broker (B2B)|
|💻 Platform Types||MetaTrader 4 and 5, MirrorTrader, RoboX, ZuluTrade, myFxbook, cTrader, cAlgo|
|📱 OS Compatibility||Desktop platform (Windows), Desktop platform (Mac), Web platform
Mobile trading: Android, iOS
|📈 Tradable assets offered||Currencies, Commodities, Indices, Stocks, Crypto, Futures|
|👨💼 Languages supported on Website||English, Chinese, Russian, German, Arabic, Spanish, Thai, Vietnamese, Italian, French|
|👥 Customer Support Languages||English, Russian, Vietnamese or Thai|
|📆 Customer Service Hours||24 hours per day|
Pepperstone Account Types – 8 key points quick overview:
- ✔️Pepperstone at a Glance
- ✔️Pepperstone Overview
- ✔️Pepperstone Account Types
- Pepperstone Account Features
- Pepperstone Demo Account
- Pepperstone Islamic Account
- Pepperstone Pros and Cons
- Frequently Asked Questions
Pepperstone is a forex broker company in Australia, regulated in Australia and the UK and has offices in the United States, United Kingdom, China, and Thailand.
Pepperstone was established in 2010 in Melbourne and opened a London office in 2015 to better serve European clients.
Pepperstone gained respect especially for the way it handled the Swiss National Bank-related forex crisis in 2015 when it was able to avoid losses by using foresight and its high-speed technology.
Pepperstone has accumulated several awards during its years of service to traders, including Global Forex Awards Best Global Forex ECN broker 2019, Global Forex Awards Best Forex Trading Support Europe 2019, Investment Trends Australia Number 1 for Spreads 2018, and more.
Pepperstone does not have an exclusive platform but offers the full MetaTrader and cTrader suites, including MT4 (desktop and web), MT4 Multi-terminal, MT5, cTrader (desktop and web), and cAlgo. Traders can use two account types – Razor or Standard – with any platform.
For social copy-trading, Pepperstone offers the MirrorTrader and RoboX platform from Tradency, the ZuluTrade platform, and myFxbook for MT4, in addition to the native signals’ markets from MT4 and cTrader.
Forex and equity index fees are low, customer service good, providing relevant answers within a brief time. Deposit and withdrawal are easy, with no fees charged for deposits.
Pepperstone provides only forex, CFDs, and cryptos to trade with though. They offer no fundamental research tools, and the quality of news feeds is not good.
Pepperstone Account Types
Pepperstone offers several types of accounts, which include a demo account that will help new traders get into the swing of things, an Islamic Account, a Standard Account & a Razor Account.
Depending on the type of account you open, Pepperstone offers two pricing models, the commission-based Razor Account, and the Standard Account, which incorporates commissions into the prevailing spreads.
The Razor Account can be used with either the MetaTrader 4 (MT4) , MetaTrader 5 (MT5) or cTrader platforms and follows a commission-based pricing structure in addition to prevailing spreads.
The standard account is commission-free but has higher spreads and is not as competitive as the Razor Account.
The minimum deposit required to open the account is only AUD 200.
Pepperstone Account Features
Offers institutional grade spreads, an Average EUR/USD spread of 0.0 – 0.3 pips, and commission from AUD$7 round turn per 100 000 traded. This type of account is best for scalpers and algorithmic traders.
|Institutional grade spreads||Yes|
|Average EUR/ USD spread||0.0 – 0.3 pips|
|Commission||From AUD $7 round turn 100k traded|
|Best for||Scalpers and algorithmic traders|
|Trading size||Minimum 0.01 lots / Maximum 100 lots|
|Leverage||up to 30:1|
The Standard Account
Offers institutional grade spreads, an Average EUR/USD spread of 1.0 – 1.3 pips, and zero commission. This type of account is best for new traders.
The main difference between Razor and Standard type of accounts can be summarised as follows:
Razor accounts have raw spreads and commissions (e.g., 0 pip spread plus AUD$7 commission = total cost AUD$7) while standard accounts have raw spread + 1 pip increase (e.g., 0 pip spread plus 1 pip = 1 pip).
Many clients see the Standard account as a simpler alternative to the Razor as all fees are included in the spread. Those with trading styles, like scalpers and algorithmic traders, may enjoy the lower cost setup traditionally seen in a Razor account.
|Institutional grade spreads||Yes|
|Average EUR/ USD spread||0.6 pips|
|Best for||New traders|
|Trading size||Minimum 0.01 lots / Maximum 100 lots|
|Leverage||up to 30:1|
Pepperstone Demo Account
Pepperstone offers traders the option to open a demo or practice account which can be utilized in several ways, including the following:
- A practice account for beginner traders who wish to hone their trading skills and gain experience in a risk-free environment using virtual funds.
- Traders who want to evaluate and compare brokers would like to explore Pepperstone’s trading conditions in a risk-free environment.
- Traders who want to test their trading strategies in an imitated live trading environment without risking their own capital.
Pepperstone Islamic Account
The purpose of an Islamic Account is that it caters explicitly to Muslim traders who follow the strict rules of Sharia law. These rules prevent followers from paying any type of interest, such as overnight fees, which are seen as exploitive or wasteful.
Overnight fees are charged when traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should traders hold positions open for longer.
Brokers offer an Islamic Account only to Muslim traders who follow Sharia law. Traders must, however, take note that there are certain features indicated on the Islamic account which may differ vastly from the other individual account types, such as minimum deposits, spreads, and more.
Traders who are interested in registering for an Islamic account must contact the broker’s customer support team to verify the availability and current conditions of such an account as conditions may have changed from the time of writing.
Pepperstone Pros and Cons
|✔️ Pros||❌ Cons|
|Account opening is fast and fully digital||Basic news flow, no fundamental data|
|Credit/Debit cards to be used to fund accounts||Does not hold a banking license|
|Great customer service provided||Financial information not publicly available|
|Low forex and equity index CFD fees||High bank withdrawal fee outside EU/Australia|
|Low non-trading fees charged||High financing rate for CFDs|
|Majority clients belong to top-tier authority||No investor protection for non-EU clients|
|Negative balance protection||Not listed on stock exchange|
|No deposit fee charged||Only forex, CFDs, and crypto to trade|
|Seamless and free deposit and withdrawal|
|Several account base currencies|
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Frequently Asked Questions
Which live trading accounts does Pepperstone offer?
Pepperstone live trading accounts incl:
- Standard Account
- Razor Account
What are the available deposit currencies for a live trading account?
Available deposit currencies are: AUD, USD, GBP, JPY, EUR, CAD, NZD, CHF, SGD, and HKD.
What is the difference between a demo and live trading account?
A demo account is usually funded with virtual money while a live trading account is unded with the customers own real money.
How many instruments can I trade with Pepperstone?
You can trade several different instruments with Pepperstone, which include the following:
Which platforms are supported by Pepperstone?
Pepperstone provides the following popular trading platforms:
- MetaTrader 4 and 5
Does Pepperstone offer leverage?
Yes, Pepperstone offers leverage up to 1:200 for retail clients and up to 1:500 for elective professional clients.
What spreads can I expect with Pepperstone?
Pepperstone offers spreads from 0 pips.
Does Pepperstone charge commission?
Commission from AUD$7 round turn per 100 000 traded.
Are there additional charges on the Islamic account?
Pepperstone does offer an Islamic Account. Some brokers charge extra fees on Islamic accounts – are either in wider spreads, additional commissions, or administration fees to make up for money that they lose with not charging overnight fees.
New Islamic traders should enquire about these special conditions or extra fees before joining, because it is often overlooked or not indicated on the account features pages.
Is Pepperstone regulated and by whom?
Pepperstone is regulated by the FCA and ASIC and is regulated in Australia, Bahamas, Cyprus, Dubai, Germany, Kenya, UK
Is Pepperstone a recommended forex trading broker for experts and beginners?
Pepperstone offers a fair-trading environment for most types of traders.
What is the overall rating out of 10 for Pepperstone?
Does Pepperstone offer a demo account?
Yes, a dem account is offered by Pepperstone.
How long is the demo account valid?
The demo account can be used unlimited.
Does Pepperstone offer an Islamic Account?
Yes, an Islamic account option is available from this broker.
Deposits and withdrawals
What is the minimum deposit required to open an account with Pepperstone?
How do you make a deposit and withdraw money with Pepperstone?
Pepperstone offers the following deposit and withdrawal methods:
- Credit/Debit Card
- China Union Pay
- Broker to Broker
Does Pepperstone charge withdrawal fees?
Yes, withdrawal fee outside EU/Australia.
How long does it take to make a withdrawal?
Withdrawals may be processed within a day but depending on bank services it may take several days for the money to be available.
Featured SA Shares Writer and Forex Analyst.