Pepperstone Review: A Platform For Forex & CFDs

July 16, 2020
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Pepperstone is an Australian investment platform that has offices in England and is regulated by the UK’s Financial Conduct Authority (FCA) as well as the Australian Securities and Investments Commission (ASIC). With Pepperstone, you can operate Forex and CFDs instruments. It has an awesome investment platform, very good apps and two types of accounts. With no withdrawal or inactivity fees and no minimum deposit, this is a strong choice for those occasional traders who are only looking to trade forex and ETFs.

In this Pepperstone review, you will also find a comparison between Pepperstone and where you can select the platform that best suits your needs. We believe that is a better option than Pepperstone because it has a more stable and easy to use investment platform with excellent educational content, far better withdrawal options and a greater number of investment possibilities.

We analyzed hundreds of data points relevant to the costs, benefits and features of trading with Pepperstone and scored our findings on a 10-point scale across 10 distinct categories.
Fees 9
Signup Process 7
Minimum Deposit 10
Ease of Use 8
Deposit & Withdrawal Options 10
Customer Support 8
Asset Classes 9
Referral Program 0
Demo Account & Educational Resources 7
Safety & Regulation 10
Total 78

Pepperstone Pros & Cons


  • No inactivity fee.
  • No withdrawal fee.
  • There is no minimum deposit.
  • The account opening is completely digital.
  • The platform offers a good interface for graphics.
  • There are phone support and live chat.


  • Not listed on a stock exchange.
  • There are commissions if you make withdrawals to countries other than the European Union or Australia.
  • Unable to see price alerts.
  • Pepperstone does not publicly present its financial statements.
  • Customer service is only 24/5.
  • You can only trade CFDs and Forex

Account Types

With Pepperstone, you can open two types of accounts, Razor and Standard. With both accounts you can access the same instruments, but, there are some differences in the fee structure that we will present to you in the next section. In any case, many users see the Standard account as a simpler alternative to the Razor, since all fees are included in the spread. Those with a specific style of trading, such as scalpers or algorithmic traders, have access to a cheaper setup than the Razor account sees.

Both accounts have the following characteristics:

  • Minimum trading size 0.01 lots.
  • Maximum trading size 100 lots.
  • Scalping allowed.
  • Hedging allowed.
  • News trading available.
  • No dealing desk execution.

Having only two account types can be both beneficial and detrimental, depending on your particular trading style. Some traders prefer a single account from where to perform all trades, no matter what the asset, which is pretty much what Pepperstone offers. Other brokers have a plethora of account options with different features specially tailored to very precise scenarios, making them optimum choices for highly experienced traders.

Let’s dive into the more important details about Pepperstone to see how it will match your particular style of trading.

Here’s a breakdown of our 10 scoring categories, each scored out of 10 for a total of 100 points.

#1 Pepperstone Fees

With Pepperstone you won’t have to pay account opening, inactivity, deposit or withdrawal fees. You must take into account some characteristics in each type of account in particular when you trade:

  • Razor: raw spreads and commissions (e.g. 0 pip spread plus $7 AUD commission = total cost $7 AUD)
  • Standard: raw spread + 1 pip increase (e.g. 0 pip spread plus 1 pip=1 pip)

Characteristics Razor Standard
Institutional grade spreads Yes Yes
Average EUR/USD spread 0.0 – 0.3 pips 1.0 – 1.3 pips
Commission From $7 AUD round turn 100k AUD traded 0
Rollover swaps Refer to your trading platform for market rates Refer to your trading platform for market rates
Best for Scalpers and algorithmic traders New traders

Pepperstone offers very good rates and possibilities to save money when trading on its platform. For this reason, the broker is very well rated in this aspect.

Pepperstone Fees Score: 9/10

#2 Sign up Process

The account opening process is very simple. You can do most of the process, online. To open an account, go to the home page and click the Create account> Open account button.

The online process will take 5-10 minutes. The system will ask you to complete an integration exam and send in your account opening identification documents, which you can upload during the application. The verification process usually takes 1-3 days.

Pepperstone Review: Sign up Process

Primary Identification Document

  • Passport.
  • Driver’s license.
  • Government-issued identification photograph.

Secondary Identification Document

  • Tax invoice (telephone, electricity, gas).
  • Bank or credit card statement.
  • Government-issued tax document.
  • Birth certificate.
  • Certificate of citizenship.

You can access the platform in 14 languages:

Pepperstone Review

To operate within the Pepperstone platform, you must wait up to 3 days. This aspect is essential because being able to open an account quickly offers you the possibility of exploiting opportunities in the financial market. Some platforms offer better verification times for your account, meaning that you’ll be able to start trading in 2 or fewer days after opening your account. For an easy online signup process and a not-so-great verification process, we give this broker its 7/10 score in this category.

Pepperstone Signup Process Score: 7/10

#3 Minimum Initial Deposit

In order for you to trade on the Pepperstone platform, you do not have to meet a minimum initial deposit. For this reason, the broker is very well qualified in this category. However, the broker recommends a minimum opening balance of $200 AUD

Pepperstone Minimum Initial Deposit Score: 10/10

#4 Ease Of Use

Pepperstone’s investment platform is excellent because it offers, for free, the possibility of trading with MetaTrader 4 (one of the most popular trading platforms on earth), MetaTrader 5 (the most modern and powerful platform) and cTrader (the easiest platform to use). All platforms are available to run via Pepperstone’s WebTrader and mobile apps for seamless syncing across all your devices.

We find it excellent that MetaTrader 4 and 5 can be used because they are very useful platforms and are valued as one of the most used tools by traders in the world. You will be able to find a large number of chart options, indicators, and plotting tools.

You can also see several charts at the same time, you have customization options and you can even create environments. For example, environments for Forex, another for technology CFDs or financial sector CFDs.

These customization possibilities allow you to be much more efficient when analyzing and making the best investment decisions.

MetaTrader 4

Below we show you the usefulness of each of the platforms offered by Pepperstone.

Characteristics cTrader MetaTrader 4 MetaTrader 5
Desktop platforms Windows Windows, Mac OS Windows, Mac OS
Android/iOS support Yes Yes Yes
150 trading instruments available XNG/USD not available Yes Yes
Expert advisors/automated trading support Yes Yes Yes
Strategy backtesting Yes Yes Yes
Customizable charting and indicators Yes Yes Yes
Depth of market functionality Yes No Yes
Advanced take-profit/stop-loss levels Yes No No
Access to historical data No Yes Yes
Detachable charts for multiple monitors Yes No No
Social/copy trading functionality Yes Yes Yes
Cloud-hosted profiles, templates and passwords Yes No No


The Pepperstone app uses the same analysis tools as the desktop version. You will see that it offers very good features for all types of investors, from beginners to experts. Also, the app is very well rated on the download site with a score of 4.6/5 with more than 500,000 reviews.

Although the Pepperstone investment platform is wonderful, the broker loses points due to the time you will have to invest to comfortably manage it, making it a suboptimal choice for new traders.

Pepperstone Ease of Use Score: 8/10

#5 Deposit & Withdrawal Options

One of the pros of using Pepperstone is the fact that you can open your trading account in several different base currencies. Available base currencies are:

  • AUD
  • USD
  • JPY
  • GBP
  • EUR
  • CAD
  • CHF
  • NZD
  • SGD
  • HKD

Additionally, Pepperstone also allows several ways for you to fund your account. Below you will see several of the deposit and withdrawal methods:

  • Visa
  • MasterCard
  • Bank transfer
  • Neteller
  • Skrill
  • PayPal

It is important to take into account that, in general, transfers take 3 to 5 business days, but using a credit card, funds will be available instantly, letting you take advantage of great trading opportunities.

It is also necessary to take into account that:

  • Funds can only be sent to a bank account that has the same name as your Pepperstone trading account.
  • Fees charged for international bank transfers will be at your expense. Most international bank transfers cost around $20 AUD.
  • Withdrawals made via bank transfer will generally take 3-5 business days to get your money in your account.

As you can see, Pepperstone does very well in terms of versatility and options when it comes to funding and withdrawing your funds.

Pepperstone Deposit & Withdrawal Options Score: 10/10

#6 Customer Support

Customer service is very good, you will receive an immediate response. However, customer support is only 24/5. Below you will see the ways to communicate with Pepperstone:

  • Phone (toll-free): 0800 046 5473
  • Phone (non-UK): +44 (800) 0465473
  • Live Chat 24/5 on the Pepperstone website
  • Support:
  • Press:

Pepperstone Review: Customer Support

Pepperstone technical support offers you several alternatives to communicate with the technical advisers. However, the service is only 24/5, making Pepperstone lose points compared to other brokers that offer the ideal 24/7 technical support service.

Pepperstone Customer Support Score: 8/10

#7 Asset Classes


Through CFDs you will be able to buy highly reputable stocks like Apple, Alphabet, Tesla and Alibaba.

Currency Pairs

You will be able to trade more than 60 currency pairs. For example, USD/JPY, CAD/GBP, etc.


Yes, you can trade gold through CFDs.


You will be able to operate with this type of financial instrument.


You will be able to access more than 50 different types of cryptocurrencies.

While it is true that Pepperstone has a number of alternatives in most of the financial instruments it offers, unfortunately, you will not be able to invest in bonds, which reduces the diversification capacity of your portfolio if you choose this broker.

Pepperstone Asset Classes Score: 9/10

#8 Referral Program

At this time Pepperstone does not offer a referral program. For this reason, it is impossible to be able to assign points in this regard to Pepperstone.

Pepperstone Referral Program Score: 0/10

#9 Demo Account & Educational Resources

Pepperstone allows you to open a 30-day demo account. This type of account works with paper money. Also, this wonderful tool will allow you to test your hypotheses and investment strategies without risking real money. Even so, the 30-day time limit is rather disappointing, especially considering that some platforms will give you unlimited access to a demo account even after you start trading. This allows you to test new strategies as you learn more and become a better trader.

Educational Resources

At Pepperstone you will have access to valuable tools that will allow you to increase your skills. You will be able to have access to outstanding news, analysis of the market, economic calendars and even a section where you can see how the experts do technical analysis.

The fact that Pepperstone only offers a demo account for 30 days makes it lose points because investors usually need more time to test the investment platforms.

Pepperstone Demo Account & Educational Resources Score: 7/10

#10 Safety & Regulation

Pepperstone is regulated by the UK’s Financial Conduct Authority (FCA), by the Dubai Financial Services Authority (DFSA) and the Australian Securities and Investments Commission (ASIC). Also, Pepperstone users in the European Union will be protected by the UK Investor Protection Fund of up to £ 85,000.

Pepperstone Safety & Regulation Score: 10/10

While researching 100+ of the world’s top brokers, we’ve noticed what works and what doesn’t from the customer’s point of view. That’s why our final test for any broker is to compare it to, which scores 91/100 points across the 10 categories mentioned in this review.

Pepperstone Vs.

One of the most relevant aspects when putting the best and most profitable investment ideas into practice is that you can have a platform that can add value to your strategies. Moreover, the said platform should allow you to be confident when investing your money by providing tools and information to do the best analysis possible, all the while charging the lowest rates in the market. Taking into account the most relevant aspects for an investor we prefer over Pepperstone for the following reasons: Offers More Investment Options

Pepperstone has a good number of CFDs that you can invest in. However, offers you several numbers of possibilities because on its investment platform you will be able to access a greater number of CFDs. This feature is really important because with you will be able to have a greater capacity for diversification when building your investment portfolios, therefore reducing risk.

It’s Easier To Use

Although it is true that the Pepperstone investment platform is sophisticated and is used by traders around the world, to manage this investment platform with total tranquillity and mastery, you will need to go u a steel learning curve that can take a long time. In this sense, if you are a beginner investor or simply do not want to spend time and effort learning how to use the Pepperstone investment platform, we think that your best option is It has a very stable platform, is easy to use and intuitive. Furthermore, it has an interface that follows the best data processing standards for traders. Has Referral Program

As we mentioned in this Pepperstone review, Pepperstone does not have a referral program, but does. They offer you a referral program that will allow you to earn $25 USD for each person you invite to invest in this wonderful investment platform, giving you an alternative means to make your money grow.

It Provides More Educational Resources

With you have more tools and options so you can study the market and create the best investment plans. For example, you will be able to access:

  • Free financial webinars.
  • Educational courses for traders.
  • Extensive market glossary.
  • Comprehensive CFD trading guide.
  • Cryptocurrency trading tutorial.
  • Investmate,’s investor education app.

Far better withdrawal options

Although Pepperstone’s withdrawal options sure are great,’s are way better. With you will have a greater number of withdrawal options compared to Pepperstone. Besides being able to fund or withdraw with credit cards, bank transfers, Neteller and Skrill, all of which you can also use in Pepperstone, also allows the use of;

  • Debit cards
  • iDeal
  • Giropay
  • Multibanko
  • Przelewy24
  • QIWI
  • Webmoney
  • Trustly

Additionally, you’re never charged a fee to deposit or withdraw money with

Pepperstone Review In Summary

  • At Pepperstone you can operate Forex and CFD instruments. Also, it has an investment platform, very good apps and two types of accounts.
  • With Pepperstone you won’t have to pay account opening, inactivity, deposit or withdrawal fees. But there are fees associated with each type of account.
  • The account opening process is very simple. Most of the process you can do it digitally. Also, the online process will take no more than 15 minutes.
  • Pepperstone requires a minimum deposit of $200 AUD.
  • Pepperstone’s investment platform is excellent because it offers for free the possibility of trading with MetaTrader 4 (most popular), MetaTrader 5 (most modern and powerful) and cTrader (the easiest platform to use). But, keep in mind that it will take some time for you to learn to operate these platforms.
  • The Pepperstone app has an excellent rating of 4.6/5.
  • The company’s customer service offers various contact alternatives. However, it is only 24/5.
  • You can also open a demo account, but it can only be used for 30 days.

In general terms, we think that is a better option because it offers a broader base of investment options, the investment platform is easier to use, and the educational content is complete and useful. Also, the trading platform has an excellent interface and far better withdrawal options. is ideal for all types of investors. If you are a beginner or an experienced trader you will see that this wonderful broker is an ally that will allow you to fully exploit capital gains.

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