Minimum Initial Deposit
Trust Score
Tradeable Symbols (Total)


  • Founded in 2010, Pepperstone is regulated in two tier-1 jurisdictions, making it a safe and reliable broker for trading forex and CFDs
  • It offers a strong platform suite with both MetaTrader and cTrader options, suitable for both algorithmic and copy traders
  • Pepperstone provides useful platform add-ons and offers a variety of tradeable markets
  • While its research may not be the strongest compared to industry leaders, it still surpasses the average
  • Pricing is attractive for active traders on its razor accounts, but may be average for retail traders
  • Multiple social copy trading platforms are also available


  • The range of educational materials at Pepperstone is similar to the industry average, but not as extensive as leading brokers
  • Pepperstone does not offer interactive courses, progress tracking, or educational quizzes

Overall Summary

Overall Rating
Trust Score
Offering of Investments
Commissions & Fees
Platform & Tools
Mobile Trading

Trust Breakdown

Pepperstone has a low risk profile, with an overall Trust Score of 93 out of 99. It is not a publicly traded company, does not operate a bank, and is regulated by two highly trusted tier-1 regulators (ASIC and FCA) as well as two average trust tier-2 regulators and one low trust tier-3 regulator. For more information on Trust Score, visit the website.


Pepperstone's MetaTrader 5 platform lists 2,342 symbols, some of which are duplicates. However, there are more than 1,000 distinct markets available for trading, including forex and CFDs. Cryptocurrency trading is offered through CFDs, but not through the actual asset. Please note that cryptocurrency CFDs are not available to retail traders from the U.K. entity or to U.K. residents. The table below provides a summary of the investment products available to Pepperstone clients.

Commissions and Fees

Pepperstone is an agency-execution broker that offers competitive pricing for high-volume traders on its Razor account through its Active Trader program. Its Standard account has higher spreads compared to the Razor account. The Razor account is available on the MetaTrader or cTrader platforms and follows a commission-based pricing structure. The average spread on the EUR/USD on the Razor account is 0.17 pips, but the all-in cost including commission is 0.87 pips. The Standard account is commission-free and has an average spread of 0.77 pips on the EUR/USD. Active traders may qualify for rebates on the spread through Pepperstone's Active Trader program, which varies based on monthly trading volume and location. In the UK and EU, Professional clients need to trade at least $10 million per month to be eligible for the Tier One rebate of 5% per lot. In Australia, Professional clients need to trade a minimum of 100 lots over a three month period to qualify for the lowest tier with a 5% spread reduction.

Other Information

Pepperstone offers several third-party mobile trading apps, including the MetaTrader and cTrader apps, which are available on Google Play and the Apple App Store. These apps provide a reliable trading experience, but proprietary apps offered by some of the highest-ranked brokers can set them apart. Pepperstone also offers a variety of third-party platforms, including the full MetaTrader suite (MT4 and MT5) and the cTrader platform, which are available for desktop and web. Pepperstone's Smart Trader Tools are available as an add-on for MetaTrader accounts, and the company offers social copy trading platforms such as MirrorTrader, RoboX, and myFxbook. Pepperstone's research offering includes in-house content and access to third-party tools, as well as daily news and analysis, market reports, and webinars. The quality of Pepperstone's research is above the industry average, but not as comprehensive as that offered by leading brokers like IG and Saxo Bank.

Final Thoughts

Pepperstone is a forex and CFD broker that offers a wide range of markets, including spread-betting in the UK and Ireland. It provides a strong platform experience with MetaTrader and cTrader, but lacks a proprietary app. The minimum deposit to open an account with Pepperstone is $200, but you can still start trading with a lower amount. The cost of trading with Pepperstone depends on the type of account you choose and the instruments you trade. The ECN Razor account has effective spreads of 0.93 pips for the EUR/USD, including a per-trade commission of 0.7 pips, while the Standard account is commission-free with spreads of 0.77 pips. Active traders may be eligible for liquidity rebates based on their monthly trading volume. Pepperstone is a trusted and well-capitalized broker with regulatory status in several tier-1 jurisdictions, including the UK, EU, and Australia, as well as tier-2 and tier-3 licenses. It processes an average of $9.2 billion in daily trading volume for more than 110,000 retail trading accounts. Founded in 2010 in Melbourne, Pepperstone has offices in several countries where it is regulated. It was assessed, rated, and ranked among 39 international forex brokers in a 2022 review based on 113 variables, including a proprietary Trust Score algorithm.