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Does Pepperstone have low spreads? Yes, with the right account

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. 

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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: 

  1. Go to pepperstone.com

  2. Click on 'Join now' at the top right corner

  3. Fill out the survey with your email address and the password of your choice

  4. Add the remaining info to request the verification of the account

  5. Login to your Pepperstone account to enter the Secure Client Area

  6. Click on 'Account' on the left side of the page to request a 'Standard' or a 'Razor' account

  7. 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).

 

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Further reading:

 

Author of this article

Bence András Rózsa

Author of this article

Bence András Rózsa is an experienced broker analyst. Having an MSc in international economy and finance, he focuses on equities, cryptos and newcomer financial services. He also has 2+ years of experience within the brokerage industry specializing in stock- and CFD/forex brokers, crypto providers and robo-advisors.

Bence András Rózsa

Broker Analyst

Bence András Rózsa is an experienced broker analyst. Having an MSc in international economy and finance, he focuses on equities, cryptos and newcomer financial services. He also has 2+ years of experience within the brokerage industry specializing in stock- and CFD/forex brokers, crypto providers and robo-advisors.

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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