Pepperstone Review 2025

Pros

• Get top-notch customer support through phone, email, or live chat. Expect responses within <5 minutes based on our trials.
• Support for numerous top-charting platforms such as MT4, MT5, TradingView, and cTrader. These cater to different short-term trading styles, including algorithmic trading.
• Pepperstone provides impressive transaction completion speeds, averaging about 30ms. This allows for quick order processing and execution, making it suitable for traders.
• Pepperstone is a low-cost broker, ideal for serious traders. The Razor account offers spreads from 0.0, with rebates up to 30% for indices and commodities, and $3 per lot for forex through the Active Trader program.
• Pepperstone has simplified deposits and withdrawals, adding Apple Pay and Google Pay in 2025, and PIX and SPEI for Brazilian and Mexican clients in 2024.

Cons

• Pepperstone does not support cTrader Copy, a popular feature in the cTrader platform available at alternatives like IC Markets, though it has launched an intuitive copy trading app.
• Despite market improvements, the crypto options provided are fewer compared to other brokers like eToro, with no chance to buy actual coins.
• Pepperstone's demo accounts last for 30 days. This might be insufficient for learning the various platforms and testing trading strategies.

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Regulation & Trust

Pepperstone is one of the most trusted names in the industry, backed by authorization from four top-tier regulators.

It’s regulated by top-tier authorities, such as the UK’s Financial Conduct Authority (FCA), the Dubai Financial Services Authority (DFSA), the Australian Securities & Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC).

Another aspect I value is that Pepperstone keeps client funds separate from its business assets and offers negative balance protection for retail investors.

As someone based in the UK, I’m also reassured by the Financial Services Compensation Scheme (FSCS), which covers up to £85,000.

Clients in Germany and Austria can recover 90% of securities claims up to €20,000 and receive complete cash reimbursements up to €100,000.

EU and EEA clients have up to €20,000 in protection through the Cyprus Investor Compensation Fund (ICF).

Unfortunately, clients outside the EU and UK don’t enjoy the same level of protection, which is something to keep in mind.

Pepperstone isn’t perfect, either. It has no banking license and isn’t publicly listed like IG and Plus500. I also wish it were more transparent by sharing its financial information publicly.

Another improvement I’d love to see is the addition of two-factor authentication (2FA) for an extra layer of account security.

Accounts & Banking

Live Accounts

When choosing a trading account with Pepperstone, it offers two main options: a Standard account and a Razor account.

With its variable spreads and zero commissions, the Standard account is a great fit for new traders.

On the other hand, the Razor account, with its ultra-tight spreads, is ideal for more experienced traders looking for precision and lower costs.

Both accounts give you access to all available instruments, with no minimum deposit requirement and the flexibility to place orders as small as 0.01 lots.

One of the things I appreciate most about Pepperstone is that, unlike many brokers, it does not require a $250 minimum deposit. Instead, it lets you start with whatever amount you’re comfortable with.

Managing funds is easy because you can open an account in 10 base currencies, including USD, EUR, GBP, and AUD.

This flexibility saves you from unnecessary conversion fees, unlike eToro, which only supports USD and GBP and charges extra when using other currencies.

Pepperstone also offers a swap-free account option for Islamic traders, and a spread betting account for those in the UK.

Opening a live account was straightforward and entirely digital, taking me just a few minutes to complete.

Demo Accounts

Pepperstone offers a free demo account with up to $50,000 in virtual funds to test different platforms without risking money.

I have noticed, though, that MetaTrader 4 (MT4) and MetaTrader 5 (MT5) demo accounts expire after 60 days, which can be limiting if you’re like me and enjoy experimenting with strategies over time.

That said, cTrader and TradingView demos don’t have expiry dates, which is excellent for ongoing practice.

Even with MT4 and MT5, Pepperstone will convert your demo to a non-expiry version if you have an approved live account, which is a relief.

Deposits & Withdrawals

While Pepperstone doesn’t offer endless deposit methods, the options available are low-cost, secure, and fast.

As a trader in the UK, I can easily fund my account using my credit card, debit card, wire transfer, or PayPal, which makes the process super convenient.

Traders in other regions can also use e-wallets like POLi, BPay, Neteller, Skrill, and Union Pay.

In 2024, Pepperstone added PIX for Brazil and SPEI for Mexico, along with popular cryptocurrencies like USDT, BTC, ETH, and USDC.

Funding my account has always been simple. Using my card or PayPal means deposits show up almost instantly, which is something I really value when I’m ready to enter the market.

I also appreciate that Pepperstone doesn’t charge any deposit or withdrawal fees.

However, traders outside the EU and Australia face a $20 fee for bank withdrawals, which is something to keep in mind.

Withdrawals are pretty efficient. They are usually processed within two to three days.

Assets & Markets

Pepperstone is a versatile platform that offers plenty of opportunities for traders who want access to global markets.

It offers over 1,300 instruments, from forex and stocks to commodities, ETFs, and cryptocurrencies.

It’s important to remember that Pepperstone deals exclusively in CFDs, so while you can speculate on price movements, you won’t actually own the underlying assets.

I appreciate Pepperstone’s robust selection of indices, including stock, currency, and crypto, which helps me gain broader market exposure.

I’ve also noticed that Pepperstone is continuously expanding its offerings. In early 2024, it added several European share CFDs, new equities, currency pairs, and commodities, giving me even more trading options.

Trading forex is especially appealing with Pepperstone’s 100 currency pairs.

I also like exploring stock CFDs from the US, UK, Australia, Hong Kong, and the EU markets.

When I want to diversify, I can trade commodities like precious metals and oil, speculate on 23 major stock indices worldwide, and even access 101 ETFs, including the iShares China 25.

Plus, having 21 crypto/fiat pairs and three crypto funds to trade keeps things exciting.

Leverage is another factor to consider when trading. In the UK and Australia, leverage is capped at 1:30 for retail traders like me, but I know international clients can access high leverage up to 1:200.

Professional traders can even go as high as 1:500, which is tempting but adds more risk. Retail accounts have a 50% stop-out level, while professional accounts are set at 20%.

Fees & Costs

Pepperstone has excellent pricing, especially after it tightened forex spreads in 2021. That said, IC Markets still edges out Pepperstone when it comes to spreads and commissions based on our tests.

The Standard account is a solid choice when looking for commission-free trading with variable spreads around 1.0 pip. It’s ideal when you want straightforward pricing without worrying about extra costs.

But go with the Razor account when aiming for the tightest spreads. With raw spreads starting from 0 pips and a $3 commission per lot per side, it’s ideal for precise, cost-effective trading.

What draws me in is the Active Trader program, which offers spread rebates based on how much I trade each month.

If I trade $10 million monthly (about 100 standard lots) in any commodity, I get a 5% rebate per lot in the UK and EU. The rebate rates for forex and indices are different.

And if I push past 500 lots a month, I can even negotiate for better rebates, which is a huge plus when I’m trading frequently.

Keep in mind that trading on MetaTrader comes with slightly higher commissions—$3.50 per lot, per side—compared to cTrader and TradingView.

You will also pay a small commission when trading share CFDs, like 0.10% for UK stocks and 0.07% for Australian stocks, which you should factor into your trading decisions.

If there’s one drawback I’ve noticed, it’s the higher-than-average overnight holding costs.

Luckily, that doesn’t affect me much since I usually close my positions by the end of the day.

Still, I wish Pepperstone offered interest on uninvested cash balances like Interactive Brokers and eToro do—it’s a bit of a downside when my funds are just sitting there.

Platforms & Tools

Desktop Platforms

Pepperstone offers four top trading platforms: MT4, MT5, cTrader, and TradingView.

MetaTrader is a solid choice when you need extensive customization, advanced charting tools, and access to a massive library of pre-built trading robots.

Pepperstone enhances the MetaTrader experience with its Smart Trader tools, which gives even more features to fine-tune trading strategies.

My only gripe is that Pepperstone doesn’t support cTrader’s built-in copy trading like IC Markets or TopFX.

But you still have solid copy trading options with Pepperstone through MetaTrader Signals and DupliTrade. Pepperstone also has its own mobile app that offers easy trading and access to a variety of signal providers.

One unique feature I really appreciate is that Pepperstone offers spread betting on TradingView. This is a big win for UK-based traders like me because it means tax-free profits.

Pepperstone is one of the few brokers offering Capitalise.ai, which lets you automate trades using simple English commands.

It’s so convenient to set up strategies without needing to code, and I love that I can backtest and simulate my ideas before going live.

Pepperstone also offers two VPS solutions—ForexVPS and New York City Servers—which ensure you have 24/7 connectivity.

Research

Pepperstone’s research resources really helpful. There are plenty of videos and written content to keep you informed.

However, I wish there were a dedicated news feed and a social trading community outside TradingView, similar to what eToro offers.

What really stands out is Pepperstone’s Smart Trader Tools.

With 28 MetaTrader add-ons, you have access to useful features like sentiment indicators, automated trend lines, and a correlation matrix, which help you manage your exposure when trading similar currency pairs.

I also like using Autochartist for automatic pattern recognition and trading ideas. It saves time and gives me a different perspective when looking for opportunities.

Pepperstone’s in-house research is another big plus. Its daily articles and videos cover technical and fundamental analysis, and you can easily access them on its website or YouTube channel.

Education

Beginners should find Pepperstone’s educational resources helpful. You can easily access plenty of guides, videos, and webinars on its website and YouTube channel.

While the content covers the basics of forex and CFD trading well, it could be sorted by experience level. It would make it much easier to find what you need without sifting through everything.

The MT4 guides have been handy. When I was new to the platform, they walked me through everything—from downloading and setting it up to customizing charts and installing EAs.

What’s exciting is that in 2024, Pepperstone launched a toolkit for AI-assisted trading.

It comes with a detailed manual and five expert-led talks that explain how to use AI for market analysis, generating trading ideas, and reviewing performance.

Customer Support

Pepperstone has impressed with its customer support.

You can reach out 24 hours a day during the week and even get help for most of the weekend, which is a huge relief when you need assistance at odd hours.

Support is available in multiple languages, and you can contact the staff through phone, email, or live chat.

I also noticed that the trading app has offered Arabic support since 2024, making it even more accessible for traders worldwide.

Whenever I have a quick question, I check the FAQ section first. It’s detailed and covers everything I’ve needed, from deposits and withdrawals to account setup, platform guides, and trading conditions.

If I’m being honest, the chatbot can sometimes be a little frustrating, but switching to a live agent is easy and fast.

Once I’m connected, I usually get helpful and clear responses within minutes, which is very helpful when I need immediate support.

Should You Trade With Pepperstone?

Pepperstone stands out as a top choice for forex and CFD trading.

It offers a great mix of versatile platforms, competitive fees, and excellent customer service, all within a well-regulated environment that gives you peace of mind.

Beginners with small accounts will appreciate that no minimum deposit is required. There’s also a free demo account and plenty of educational resources to help new traders learn the ropes.

The clear, transparent fees make it easy to manage my costs without surprises.

More experienced traders will appreciate the benefits of the Razor account, the Active Trader program, and Pepperstone’s reliable technology, which keeps trades running smoothly.

I also like that it supports different trading styles, whether I’m scalping, hedging, or using Expert Advisors (EAs) for automated trading.

Pepperstone makes it easy to adapt and execute strategies no matter how you want to trade.

Article Sources

• Pepperstone Website
• Pepperstone YouTube Channel
• Pepperstone Smart Trader Tools
• Pepperstone FAQs
• Capitalise.ai
• Pepperstone – FCA License
• Pepperstone – DFSA License
• Pepperstone – ASIC License
• Pepperstone – CySEC License
• Financial Services Compensation Scheme (FSCS)
• Cyprus Investor Compensation Fund (ICF)

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