Pepperstone review summary
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.
🗺️ 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 |
Pepperstone review
Fees
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 | 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 |
Pepperstone review
Account opening
Pepperstone's account opening process offers a rewarding experience. It is fully digital, user-friendly, and requires no minimum deposit for the Standard account.
Pepperstone review
Deposit and withdrawal
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.
Pepperstone review
Web trading platform
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 On the other hand, it lacks a two-step login and price alerts, and its design is outdated.
Pepperstone review
Mobile trading platform
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
Desktop trading platform
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.
Pepperstone review
Markets and products
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 | 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.
Pepperstone review
Research
You can find trading ideas based on technical tools and read market reports written by Pepperstone's research team.
Pepperstone review
Customer service
Pepperstone's customer service is great. You can reach them on several channels and will get quick and relevant answers.
Pepperstone review
Education
Pepperstone has great educational materials. You can use demo accounts, participate in webinars and watch educational videos.
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.
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.