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Overall Score
4.4 /5

Pros

  • Top Tier Regulations
  • Excellent choice of Trading Platforms
  • Excellent Trading Execution
  • 1200+ Instruments offered

Cons

  • No Bonus Available
  • Low Leverage for Retail Accounts
Visit Pepperstone
  • Main Regulators: DFSA, FCA, CySEC, ASIC, CMA
  • Crypto: Yes
  • Minimum Deposit: $0
  • Average Trading Cost EUR/USD: 1.1 pips
  • Withdrawal Fee: $0
  • Account Opening: 1 Day
Year Established
2010
Headquarters
Australia
Traded Assets
1,200+
Options
No
Crypto
Trading Fees
Low
Trading Platforms
MT4, MT5, cTrader, TradingView, PepperStone Trading Platform
Islamic Account
Demo Account
Funding Methods
Bank wire, credit cards, e-wallets
Tiers 1 Regulators
Tiers 2 Regulators
Negative Balance Protection

Products

Overall Score
4.2 /5
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Pros

  • 90+ Forex Pairs
  • Real Stocks available
  • Copy Trading available
  • Crypto available

Cons

  • Mainly CFDs

Asset Selection and Leverage

Pepperstone provides CFD trading across more than 1,200 financial markets, including forex pairs, indices, commodities, stocks, ETFs, and cryptocurrencies. 
CFD trading allows you to speculate on the price movements of these markets without the need to own the underlying assets directly.

 
Availability
Max Leverage
Max Leverage [Pro Account]
Forex
30:1
500:1
Crypto
2:1
10:1
Stocks
5:1
20:1
Equity Indices
20:1
400:1
Precious Metals
20:1
500:1
Other Commodities
10:1
100:1
Bonds
ETFs
5:1
20:1
Real Stocks
5:1
20:1
Real Bonds
Options
Thematic Indices
Synthetics


Retail Accounts: Pepperstone's leverage options vary by regulatory authority, with a range from 1:30 under regulators such as ASIC, FCA, DFSA, BaFin, and CySEC, to as high as 1:400 with the CMA, and up to 1:500 at their SCB subsidiaries.
Professional Accounts: Professional clients can benefit from a higher leverage, which is also accompanied by less protection. Max leverage is set at 500:1 for such accounts.

 

Average Trading Spreads (for Standard Accounts)

EUR/USD
1.1 pips
GBP/USD
1.5 pips
USD/JPY
1.1 pips
Gold
$0.2
Bitcoin
$16.5
S&P 500 Index
0.6
WTI Crude Oil
0.03$

Platforms

Overall Score
4.7 /5
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Pros

  • MT4/MT5 available
  • cTrader available
  • TradingView platform

Cons

  • Poor Design on the Desktop Platform

Various trading platforms are available for users, accessible via web, desktop, and mobile devices. These platforms include:

Popular External Platforms

The MT4 platform is one of the most popular trading platforms amongst new and established traders.
It offers a comprehensive set of features designed to empower traders with the tools they need to succeed in the dynamic world of financial markets.
From advanced analytical tools to smart trader features and community support, it caters to the diverse needs of traders while providing a seamless trading experience.

 

Key Features:
  • Analytical Tools: The platform boasts a wide array of analytical instruments, including advanced charting capabilities and a diverse range of technical indicators. These tools empower traders to conduct thorough market analysis and make informed trading decisions.
  • Smart Trader Tools: Enhancing functionality, the platform provides smart trader tools such as Expert Advisors (EAs) and a variety of indicators, allowing for automated trading strategies and advanced charting features.
  • Order Types and Execution Options: Traders benefit from the flexibility of various pending order types and execution options, enabling precise control over trade entry and exit points.
  • Community and Customization: Access to a vibrant trading community and thousands of online plug-in tools enriches the trading experience. Additionally, traders have the ability to create custom Expert Advisors using the platform's programming language.

 

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MetaTrader 5 (also known as MT5), is a versatile trading platform, that caters to advanced trading needs, providing access to automated trading systems, technical tools, and copy trading.
Among its notable features are:

  • Diverse Asset Classes: MT5 offers access to a wider range of asset classes, including stocks and commodities, compared to MT4.
  • Advanced Timeframes: MT5 provides additional timeframes for charting, offering more flexibility in analyzing price movements.
  • Enhanced Depth of Market (DOM): MT5 improves the Depth of Market feature, providing a more comprehensive view of market liquidity.
  • Built-in Economic Calendar: MT5 includes a built-in economic calendar, allowing traders to stay updated on key economic events directly from the platform.
  • Advanced Technical Analysis: MT5 introduces more built-in technical indicators and graphical objects for in-depth market analysis.
  • Hedging and Netting: MT5 supports both hedging and netting accounts, offering more flexibility in position management.
  • Improved Strategy Tester: MT5's Strategy Tester offers faster and more efficient backtesting of trading strategies compared to MT4.

 

Key Features
Analytical Tools:

The platform boasts a wide array of analytical instruments, including advanced charting capabilities and a diverse range of technical indicators. These tools empower traders to conduct thorough market analysis and make informed trading decisions.

Smart Trader Tools:

Enhancing functionality, the platform provides smart trader tools such as Expert Advisors (EAs) and a variety of indicators, allowing for automated trading strategies and advanced charting features.

Order Types and Execution Options:

Traders benefit from the flexibility of various pending order types and execution options, enabling precise control over trade entry and exit points.

Community and Customization:

Access to a vibrant trading community and thousands of online plug-in tools enriches the trading experience. Additionally, traders have the ability to create custom Expert Advisors using the platform's programming language.

 

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cTrader, developed by Spotware, is an intuitive trading platform that effortlessly balances simplicity with advanced functionality.
It offers powerful charting tools, sophisticated order entry options, and extensive customization features, making it ideal for both novice and experienced Forex and CFD traders.
Known for its user-friendly interface, cTrader facilitates a transparent trading experience with rapid execution speeds.

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TradingView is a leading platform renowned for its sophisticated charting tools, enabling users to visualize and analyze financial data with precision.
It combines a robust technical analysis suite with an active social network of over 30 million traders, fostering a community where insights and strategies are freely shared.

Ideal for traders of all skill levels, TradingView supports a variety of asset classes including stocks, cryptocurrencies, and Forex.
The platform's user-friendly interface and extensive customization options make it a top choice for real-time market analysis and trading.

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In-House Platform Offering

Pepperstone's trading platform offers a dynamic and efficient trading experience, designed to empower traders to capitalize on opportunities across global markets.
Users can trade CFDs on forex, commodities, indices, and cryptocurrencies with razor-sharp spreads and industry-leading liquidity.
The platform features a suite of advanced tools, including multiple charting options, comprehensive technical indicators, and real-time instrument performance updates.
With Pepperstone, traders benefit from exceptional support, easy-to-navigate interfaces, and robust risk management features, making it a top choice for both new and seasoned traders.

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Accounts

Overall Score
4.9 /5
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Pros

  • Smooth and Fast Account Opening
  • No Minimum Deposit
  • Islamic Account Available

Cons

  • None

Account Types

Pepperstone now provides five distinct trading accounts, each designed to cater to the varying needs of different trader types.

Standard Account
The Standard account at Pepperstone is an entry-level option that provides traders with access to popular forex trading software, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5). This account type features $0 commissions and offers traders interbank spreads and liquidity starting from 1.0 pips.
Razor Account
The Pepperstone Razor account offers low spreads starting from 0.0 pips and supports a variety of trading platforms including MetaTrader 4, MetaTrader 5, cTrader, and TradingView. Commission fees are competitive, with MT4 & MT5 starting at $3.50 per 100,000 units, and cTrader and TradingView at $6 USD per 100,000 units traded, adjusted to the account's currency. This account provides lightning-fast execution, supports 30:1 leverage, and enables strategies like hedging, scalping, and the use of Expert Advisors.
Islamic Account
Sharia compliant swap-free account
MAM/PAMM
The Pepperstone PAMM account is specifically designed for money managers and professional fund managers, offering a Percent Allocation Management Module (PAMM) as a technical solution for organizing investment management. This account is available only to fund managers with at least 3 years of relevant trading experience and who are licensed by appropriate regulatory bodies. The PAMM account features include multiple order types, Expert Advisors (EAs), and flexible allocation methods like Lot, Percentage, and Proportional, enabling effective management of investor funds. Integrated with popular platforms MT4 and MT5, the PAMM software supports fast order execution and customizable fee structures.
However, MT4 demo accounts will expire after eight days of inactivity, while MT5 demo accounts will expire after 30 days without trading activity.

These platforms offer flexibility in choosing deposits and leverage, allowing for more realistic demo trading results.
They are particularly well-suited for algorithmic traders to test Expert Advisors (EAs) and debug their trading algorithms.
The Active Traders Program
Only available with the Razor Account. The Active Trader program at Pepperstone is tailored for active traders and institutions, providing top-tier service, including access to an Electronic Communication Network and efficient execution. This program allows professional traders to earn daily cash rebates and save on commissions, with eligibility requiring a minimum of 200 FX lots traded per month. Pepperstone offers multiple levels of cash rebates based on monthly trading volume.

Account Opening Process

Pepperstone's account opening process is streamlined and user-friendly, providing a fully digital experience with no minimum deposit required for the Standard account.

Account Base Currencies

At Pepperstone, you can choose from the following base currencies:

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

 

Why is it important to manage Base Currencies?

This is important for two main reasons. Firstly, if you deposit funds into your trading account using the same currency as your bank account, or if you trade assets denominated in your trading account's base currency, you can avoid paying any conversion fees.
Secondly, to further reduce currency conversion costs, consider opening a multi-currency bank account with a digital bank.
These accounts typically support multiple currencies and offer favorable exchange rates, along with low-cost or free international bank transfers. Plus, you can open an account quickly and easily using just your phone.

Account Features

Minimum Deposit
$0
Inactivity Fee
Currency Conversion Fee
Broker commissions
Yes for Razor Accounts
Hidden Fees
Negative Balance Protection
Yes [except for Active Traders Program]

Deposit and Withdrawal

Overall Score
4.3 /5
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Pros

  • No Deposit Fee
  • Free Withdrawal
  • Fast Withdrawal
  • e-wallets funding available

Cons

  • No crypto payments online

Pepperstone offers a variety of deposit and withdrawal methods, along with an extensive range of account base currencies.
However, clients outside the EU and Australia face a significant $20 fee for bank withdrawals.

Payment Methods

Bank Transfer
Credit/Debit Cards
Electronic Wallets
Crypto Payments

e-wallets

Neteller
Skrill
Paypal
POLI
BPay
UnionPay
MPESA+FaceID

Fees and Processing Time

Deposit Fee
Withdrawal Fee
No [except for bank transfers done by clients outside the EU/Australia]
Withdrawal Processing Time
Fast

Trust

Overall Score
4.8 /5
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Pros

  • Top-tier regulations
  • Good TrustPilot Score [4.6]
  • Established since 2010

Cons

  • No Banking License

Founded in 2010, Pepperstone is regulated by seven national authorities, including top-tier bodies like the FCA in the UK.
However, the company is not publicly traded, does not publish its financial information, and is not affiliated with any banking institution.

Global Regulations
Registration Country
CySEC
Cyprus
FCA
United Kingdom
BaFin
Germany
ASIC
Australia
CMA
Kenya
DFSA
UAE
SCB
Bahamas

Customer Xperience

Overall Score
3.8 /5
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Pros

  • Discounted VPS offers
  • Good Customer Support

Cons

  • No Bonus available

Education and Research

Pepperstone caters well to both manual and beginner traders, reflecting its commitment to serving a diverse range of traders. The research provided by Pepperstone is among the best in the industry, featuring high-quality written market commentary, trade ideas, and informative videos packed with actionable insights.

For beginners, Pepperstone offers a comprehensive suite of educational materials, including a wide array of articles, webinars, and two detailed trading courses. This provides an excellent foundation for new traders to learn about the financial markets.
We highly recommend that beginner traders invest time in exploring the valuable resources available at Pepperstone.

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Sweeteners

Bonus
Trading Competitions
Free VPS
No [Discount available though - Forex VPS/ NY City Servers]
EA

Customer Support

Pepperstone does an excellent job of clearly explaining its products and services, making it unlikely that many traders will need to use customer support frequently.
However, it's a good idea to consult the FAQ section first for any inquiries. Pepperstone provides 24/5 customer support, with the live chat feature accessible from the back office being the most convenient way to get in touch.
They also offer support via email and phone, the latter of which we recommend for urgent situations, although such emergencies are expected to be rare.

FAQs
Well Structured
Support Methods
Live Chat,
Email,
Support Hours
24/5
Multiple Languages
English,
Arabic,
Portuguese,
Spanish,
Other

FAQs

Yes, AvaTrade is legitimate. AvaTrade was founded in 2006 and became one of the most trusted and transparent Forex brokers worldwide.

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Author of Review

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Mohamed Bouzoubaa

Author of Review

I bring extensive financial expertise as an experienced fund manager and trader with over 20 years in Tier 1 financial institutions. I have personally analyzed and tested numerous brokers, assessing trading conditions, execution quality, and customer support to provide unbiased reviews. My professional background spans roles in banking, capital markets, and fintech, alongside my work as an MBA professor, where I teach finance and investment strategies. I am also a popular book author, sharing insights on trading, market dynamics, and financial analysis. My passions lie in crypto and financial research, AI latest technologies and algorithmic trading.