Why choose Pepperstone
Pepperstone is a top-shelf broker for forex and CFD traders, striking a good balance between competitive fees and a solid forex/CFD product selection. I found Pepperstone’s forex fees particularly favorable. By default, Pepperstone uses the old-school MetaTrader platforms, a turn-off for many novice traders; but thankfully, you can link your Pepperstone account to external trading interfaces, including the popular TradingView platform.
- Fast and fully digital account opening
- Great customer service
- Seamless and free deposit and withdrawal
74-89% of retail CFD accounts lose money
Fees
- Low forex fees
- No withdrawal fee
- No inactivity fee
We compared Pepperstone's fees with two similar brokers we selected, IC Markets and Axi. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of Pepperstone alternatives.
Low FX fees
Pepperstone charges a forex commmission: $3.50 commission per lot per trade. Spread costs come on top of this, e.g. the EUR/USD spread is 0.1.
Broker | EURUSD spread | FX commission per lot |
---|---|---|
Pepperstone | 0.1 | $3.50 commission per lot per trade |
IC Markets | 0.0 | $3.50 commission per lot per trade |
Axi | 0.2 | $3.50 commission per lot per trade |
Fees are charged through commissions and spreads. The commission varies depending on the trading platform you use. The so-called round turn commissions per lot, i.e. the commission for opening and closing $100k positions, are:
- $7.00 for MetaTrader 4
- $7.00 for MetaTrader 5
- $6.00 for cTrader
Low index CFD fees
All index CFD fees are built into the spread. The spread for S&P 500 index CFDs is 0.4.
Broker | S&P 500 CFD spread |
---|---|
Pepperstone | 0.4 |
IC Markets | 0.2 |
Axi | 0.5 |
Low stock CFD fees
The commission for stock CFD trading is the following: $0.02 per share with $0.2 minimum fee.
Broker | Apple CFD |
---|---|
Pepperstone | $0.7 |
IC Markets | $0.3 |
Axi | - |
No inactivity fee, no withdrawal fee
The brokerage charges no inactivity and account fees.
Withdrawal is free for credit/debit cards and electronic wallets, except for Skrill and Neteller. Bank transfer withdrawal is also free for EU and Australian clients, but quite pricey ($20 or equivalent) for others.
Broker | Inactivity fee | Withdrawal fee |
---|---|---|
Pepperstone | $0 | |
IC Markets | $0 | |
Axi | $0 |
Safety
- Majority of clients belong to a top-tier financial authority
- Negative balance protection for most clients
Deposit and withdrawal
- Credit/Debit card available
- No deposit fee
- Several account base currencies
Account opening
- Fast
- Fully digital
- No minimum deposit
Mobile app
- User-friendly
- Good search function
- Price alerts
Desktop platform
- Clear fee report
- Good customizability (for charts, workspace)
- Price alerts