Spread costs depend mainly on the account you use. Pepperstone offers a Standard and a Razor account
An average spread cost (0.6 average pips) will be charged with the Standard account with no extra commissions
A low spread cost (0-0.3 average pips) will be charged with the Razor account, however there is a commission, the amount of which depends on the trading platform you use. A round-turn commission per lot for a $100k trade would be the following
$7.53 for MetaTrader 4
$7.00 for MetaTrader 5
$7.00 for cTrader
Pepperstone's fees are built into the spread costs of the various CFD and forex products. Spread means the difference between the BID (selling) and ASK (buying) price. So if you were to buy a position and sell it immediately, you'd realize a loss because the ASK is typically higher then the BID. At Pepperstone, the difference (spread) is wider than the market spread of these products, that's how the broker makes money.
74-89% of retail CFD accounts lose money
How to choose the right account/spread cost
If you don't have an account at Pepperstone, you'll first need to open one. Follow these steps to get your account up and running:
Go to pepperstone.com
Click on 'Join now' at the top right corner
Fill out the survey with your email address and the password of your choice
Add the remaining info to request the verification of the account
Login to your Pepperstone account to enter the Secure Client Area
Click on 'Account' on the left side of the page to request a 'Standard' or a 'Razor' account
Click on the '+ Request an account' button. Here you'll be able to choose the platform and the desired account type
You can request a 'Managed account' if you like. This is primarily designed for fund managers, who manage plenty of sub-accounts through one account.
The Standard account might suit beginners better, as there are no additional costs to pay attention to other than spread costs.
What is the best spread in forex?
It depends on what you are after. Really low costs or a bit of extra service. There are those who believe that it is better to be charged a little extra for better services & platforms.
If you only take spread costs into consideration, brokers like Pepperstone, Fusion Markets, TMGM, Tickmill and Markets.com are all great (with the right accounts).
- About Pepperstone
- Pepperstone fees
- Pepperstone minimum deposit
- Pepperstone Minimum Deposit from South Africa
- Pepperstone Minimum Deposit from Kenya
- How to withdraw from Pepperstone
- Pepperstone's customer service detailed
- Pepperstone's online trading education
- Is Pepperstone considered safe?
- Pepperstone research and analysis tools
- Opening an account at Pepperstone
- Pepperstone available instruments
- Pepperstone trading platforms
- Pepperstone MetaTrader
- Does Pepperstone have MT4?
- What is Pepperstone's cTrader?
- Pepperstone app
- Can you trade options at Pepperstone?
- Pepperstone alternatives