Pepperstone review summary


BrokerChooser score
4.4


Pepperstone is an Australian forex broker that also offers CFDs.

Pepperstone pros and cons

Pepperstone's account opening is fast, easy, and fully digital. Customer service provides quick and relevant answers. Deposit and withdrawal processes are user-friendly and, in most cases, free of charge.

On the negative side, you can mostly trade CFDs and the MetaTrader platform is rather basic.

Pepperstone main features and highlights
🗺️ Country of regulation UK, Germany, Cyprus, Australia, United Arab Emirates, Bahamas, Kenya
💰 FX commission per lot $3.50 commission per lot per trade
💰 EURUSD spread 0.8
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account 1 day
💳 Depositing with bank card Yes
👛 Depositing with electronic wallets Yes
💱 Number of base currencies supported 9
🎮 Demo account provided Yes
🛍️ Products offered Forex, CFD, Crypto

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74-89% of retail CFD accounts lose money

Pepperstone review
Fees

4.3
Pepperstone has low forex and non-trading fees, including no inactivity or account fees. However, CFD financing rates are high for a few assets.
Pepperstone forex fees
Pepperstone IC Markets Axi
Forex fee class Low Low Low
FX commission per lot $3.50 commission per lot per trade $3.50 commission per lot per trade $3.50 commission per lot per trade
EURUSD spread 0.8 0.0 0.1
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Pepperstone review
Account opening

5.0
Pepperstone's account opening process offers a rewarding experience. It is fully digital, user-friendly, and requires no minimum deposit for the Standard account.
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Pepperstone review
Deposit and withdrawal

4.3
Pepperstone provides plenty of deposit and withdrawal options, as well as a wide selection of account base currencies. However, there is a high, $20 fee for bank withdrawals for clients outside the EU and Australia.
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Pepperstone review
Web trading platform

2.8
Pepperstone's web trading platform is provided by MetaTrader. It is highly customizable, available in many languages, and has a clear fee report. On the other hand, it lacks a two-step login and price alerts, and its design is outdated.
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Pepperstone review
Mobile trading platform

3.8
Pepperstone has a great mobile trading platform offered by MetaTrader 4. It is well-designed and user-friendly. However, it lacks a safe login.
Pepperstone review - Mobile trading platform
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Pepperstone review
Desktop trading platform

3.4
In design and functionality, Pepperstone's MetaTrader 4 desktop platform is almost the same as the web trading platform. One major difference is that you can set price alerts on the desktop trading platform.
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Pepperstone review
Markets and products

2.2
At Pepperstone you can only trade forex and a range of CFDs (commodity, stock index, ETF, share, and crypto CFDs). This means that many popular asset classes such as real stocks and ETFs are missing.
Pepperstone product selection
Pepperstone IC Markets Axi
Currency pairs (#) 62 61 76
Stock index CFDs (#) 25 25 14
Stock CFDs (#) 1,400 2,100 50
ETF CFDs (#) 110 40 -
Commodity CFDs (#) 32 22 28
Bond CFDs (#) - 10 -
Futures CFDs (#) - - -
Cryptos (#) 21 23 11

Note that cryptos are not available to UK retail consumers, as per FCA ruling.

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Pepperstone review
Research

4.8
You can find trading ideas based on technical tools and read market reports written by Pepperstone's research team.
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Pepperstone review
Customer service

5.0
Pepperstone's customer service is great. You can reach them on several channels and will get quick and relevant answers.
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Pepperstone review
Education

5.0
Pepperstone has great educational materials. You can use demo accounts, participate in webinars and watch educational videos.
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Pepperstone review
Safety

Pepperstone is regulated by 7 national authorities including top-tier regulators such as the FCA in the UK. At the same time, the company is not listed on any exchange, does not disclose financial information and does not have a bank parent.
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Pepperstone review
Bottom line

Pepperstone is a great forex and CFD broker, regulated by multiplse top-tier authorities, including the FCA, the BaFin and ASIC.

The account opening is fast and fully digital. Customer service is great, providing lightning-fast and relevant answers. Deposit and withdrawal are a breeze, with no fees charged in most cases.

On the other hand, at Pepperstone you can trade mostly forex and CFDs. If you're looking for advanced features in your trading platform, you might find the MetaTrader platform slightly disappointing.

Feel free to try Pepperstone as there is no inactivity fee or minimum deposit for standard accounts.

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74-89% of retail CFD accounts lose money

Author of this review

Edith Balázs

Author of this review

Edith is an experienced financial journalist having worked for 15+ years as a correspondent for Bloomberg, Dow Jones and The Wall Street Journal covering macroeconomics, stock, currency and fixed income markets. She holds a master's degree in American Studies and Journalism.

Edith Balázs

Senior Editor

Edith is an experienced financial journalist having worked for 15+ years as a correspondent for Bloomberg, Dow Jones and The Wall Street Journal covering macroeconomics, stock, currency and fixed income markets. She holds a master's degree in American Studies and Journalism.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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74-89% of retail CFD accounts lose money

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