Pepperstone Review

Active CFD and forex traders

BAFIN ASIC CMA CYSEC DFSA FCA SCB

Founded 2010 · Germany

Why investors choose this broker

0 € minimum deposit on Standard and Razor accounts
No account, inactivity or market data fees
Razor spreads start from 0.0 points
Standard forex account has no commission and spreads from 1 pip

Review summary

Pepperstone is a CFD and forex broker with Standard and Razor accounts, 0 € minimum deposit, and platforms including MT4, MT5, cTrader and TradingView.

Pros

0 € minimum deposit on Standard and Razor accounts
No account, inactivity or market data fees
Razor spreads start from 0.0 points
Standard forex account has no commission and spreads from 1 pip
Free demo accounts include unlimited virtual capital
Most crypto CFDs can be traded 24/7
API access and cTrader Automate support custom trading systems
Accounts support 10 base currencies

Cons

Razor forex commission starts at USD 2.96 per standard lot, per side
US share and ETF CFDs cost 0.02 USD per share
UK share CFDs cost 0.10% per side
Overnight swap costs apply to positions held across days
TradingView is not available for Standard CFD accounts
Demo accounts expire after 60 or 90 days of inactivity
Crypto CFDs do not give ownership of the underlying crypto asset
Some demo features, including cTrader Copy Trading, are restricted

Company background

Pepperstone is a CFD and forex broker founded in 2010 by a team of experienced traders. Pepperstone GmbH provides CFD and derivative accounts from Germany, and the brand serves traders through offices including Düsseldorf, London, Cyprus, Melbourne, Dubai and Kenya. The product range is built around leveraged trading rather than long-term investing. Available markets include forex, indices, commodities, cryptocurrencies, share CFDs, ETF CFDs, currency index CFDs, CFD forwards and real-world assets.

Fees and pricing

Pepperstone offers Standard and Razor account types. Both accounts list a 0 € minimum deposit. The Standard account uses spread-based pricing and has no commission except for share CFDs, with forex spreads on major pairs from 1 pip. The Razor account uses raw-spread pricing for forex, with spreads from 0.0 points and commission from USD 2.96 per standard lot, per side. cTrader and TradingView Razor accounts list a 6 USD round-turn commission. Pepperstone also states that there are no account, inactivity or market data fees.

Regulation and safety

CFD and derivative accounts are provided by Pepperstone GmbH, which is registered in Germany and supervised by BAFIN under register number 151148. Pepperstone Group is described as regulated by ASIC, BAFIN, CMA, CYSEC, DFSA, FCA and SCB. The company also refers to ISO 27001, CSA STAR Level 1 and 2, Trusted Cloud Provider status and SOC 2 Type 1 certifications for its security controls and internal processes.

Platform experience

Traders can use the Pepperstone Platform on web and mobile, as well as MT4, MT5, cTrader and TradingView. The platform range supports different styles of CFD trading: MT4 is positioned around forex automation, MT5 adds more markets and order types, cTrader supports algorithmic work, and TradingView provides chart-based trading. Pepperstone also mentions API access and cTrader Automate for traders who want to connect custom systems.

Pros and cons

Pepperstone gives active traders a choice between simple spread pricing and raw-spread commission pricing. The 0 € minimum deposit, free demo accounts and lack of account, inactivity and market data fees reduce some access costs. The main limitations are the CFD-only structure, overnight swap costs, share and ETF CFD commissions, demo account expiry rules, and the fact that crypto CFDs do not provide ownership of the underlying crypto asset.

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Trading fees & commissions

Standard and Razor accounts have a 0 € minimum deposit. The Standard account is commission-free except for share CFDs, while Razor forex pricing has spreads from 0.0 points and commission from USD 2.96 per standard lot, per side. Pepperstone lists no account, inactivity or market data fees.

Fees

Item	Fee
Crypto	BTC/USD spreads from 15 $ and ETH/USD from 2 $
Account	No account fee
Inactivity	No inactivity fee
Market Data	No market data fees
Min Deposit	0 €
Demo Account	Free demo account with unlimited virtual capital
Forex Commission	from USD 2.96 per standard lot, per side
Overnight Financing	Overnight costs (swap) apply to positions held overnight; index and share CFD formulas use a 2.5% fee
Ctrader Tradingview Razor Commission	6 USD per round turn

Trading platform & features

Platforms

Pepperstone Platform
Web app
iOS app
Android app
MT4
MT5
cTrader
TradingView
API

Regulation and investor protection

CFD and derivative accounts are provided by Pepperstone GmbH, a company with a registered seat in Germany and supervision by BAFIN under register number 151148. Pepperstone Group is also described as regulated by ASIC, BAFIN, CMA, CYSEC, DFSA, FCA and SCB.

Broker FAQs

Is Pepperstone safe?

Pepperstone GmbH is supervised by BAFIN under register number 151148. Pepperstone also refers to ISO 27001, CSA STAR Level 1 and 2, Trusted Cloud Provider status and SOC 2 Type 1 certifications for its security controls and internal processes.

Is Pepperstone a scam?

No. Pepperstone GmbH is a registered German company supervised by BAFIN, and Pepperstone Group is described as regulated by ASIC, BAFIN, CMA, CYSEC, DFSA, FCA and SCB.

Is Pepperstone regulated and by whom?

Pepperstone GmbH is supervised by BAFIN under register number 151148. Pepperstone Group is also described as regulated by ASIC, BAFIN, CMA, CYSEC, DFSA, FCA and SCB.

What products does Pepperstone offer?

Pepperstone offers CFD trading across forex, indices, commodities, cryptocurrencies, shares, ETFs, currency indices, CFD forwards and real-world assets.

Does Pepperstone offer ETFs?

Yes. Pepperstone offers ETF CFDs, including more than 100 ETFs across sectors such as mining, energy, technology, bond markets and retail.

Does Pepperstone offer crypto?

Yes. Pepperstone offers crypto CFDs on Bitcoin, Ethereum and almost 20 other popular coins such as Bitcoin Cash, Litecoin, Ripple, Polkadot and Dogecoin. Most crypto CFDs can be traded 24/7.

What is the minimum deposit at Pepperstone?

Pepperstone lists a 0 € minimum deposit for both Standard and Razor CFD trading accounts.

Does Pepperstone charge an inactivity fee?

No. Pepperstone states that it does not charge account maintenance or inactivity fees.

Are there hidden fees at Pepperstone?

Pepperstone states that all applicable costs are visible in advance and that there are no inactivity or market data fees. Standard accounts show an all-in spread, while overnight and swap fees are displayed in the instrument specifications.

What does Pepperstone charge for forex trades?

Standard accounts are commission-free, with spreads on major currency pairs from 1 pip. Razor forex pricing has spreads from 0.0 points and commission from USD 2.96 per standard lot, per side.

What does Pepperstone charge for stock trades?

Pepperstone lists share CFD commissions by market. Examples include 0.10% per side for German and UK share CFDs and 0.02 USD per share for US share and ETF CFDs.

Does Pepperstone have a demo account?

Yes. Pepperstone offers free demo accounts with unlimited virtual capital. cTrader and TradingView demo accounts expire after 90 days of inactivity, while Pepperstone, MT4 and MT5 demo accounts expire after 60 days of inactivity.

Does Pepperstone have a mobile app?

Yes. Pepperstone offers its own mobile app, and the platform comparison also lists iOS and Android support.

What platforms does Pepperstone offer?

Pepperstone offers the Pepperstone Platform, MT4, MT5, cTrader and TradingView. It also mentions API access and cTrader Automate for automated and custom trading systems.

How do I open an account at Pepperstone?

Pepperstone describes a four-step process: register with an email address, answer suitability questions, verify identity and fund the account.

Is Pepperstone good for day trading?

Pepperstone is designed for active CFD and forex trading, with Standard and Razor accounts, MT4, MT5, cTrader, TradingView, API access and spreads from 0.0 points on Razor accounts.

Bottom line

Pepperstone suits active CFD and forex traders who want multiple platforms, raw-spread pricing options and demo access. It is less suited to investors who want ownership of stocks, ETFs or crypto assets rather than CFD exposure.

Pepperstone

Active CFD and forex traders

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Your capital is at risk. Other fees apply.