Pepperstone
Multi-asset brokerPepperstone is a large, well-established multi-asset broker (founded 2010) popular with active traders for raw spreads, fast ECN-style execution and the widest platform choice in the category — MT4, MT5, cTrader and TradingView. It runs several entities under different regulators, so confirm which one you are onboarded to.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. (Pepperstone's own published figure, checked 2026-07-21.)
Quick facts
- Regulation
- ASIC, FCA, CySEC (+ more) — verify entity
- Platforms
- MT4, MT5, cTrader, TradingView
- Spreads
- From 0.0 pips (Razor) + commission
- Min deposit
- No set minimum (AUD 200 suggested)
- Trustpilot
- 4.3 (~3.5k reviews)
Where you can trade
Onboards through region-specific entities (ASIC, FCA, CySEC, BaFin, DFSA, SCB, CMA); the entity you get — and whether you can register — depends on your country. US clients are not accepted. Verify eligibility on the official site before funding.
Notable restrictions (1)
Checked by SMCM 2026-07-14. The provider's official list is authoritative and can change.
Eligibility depends on your country of residence and which entity you are onboarded to, and can change. Always confirm you can open an account — and under which entity — on the provider's official site before funding.
Our take
Pepperstone is one of the more established names in retail brokerage, trading since 2010 and regulated across several top-tier jurisdictions (ASIC, FCA, CySEC and others). Its pull for active traders is the mix of raw pricing on the Razor account, fast no-dealing-desk execution, and the broadest platform line-up here — MT4, MT5, cTrader and native TradingView.
As with any global CFD broker, the detail that decides your protections is which entity onboards you: the same brand runs several, and leverage caps, fund segregation and compensation schemes differ between the ASIC/FCA/CySEC entities and the offshore ones. The logo is the same; the safety net is not. Confirm your entity — and the real all-in cost, since Razor spreads carry a commission — before funding.
It is a strong pick for cost-sensitive, experienced forex/CFD traders, scalpers and EA/algo users who want raw spreads and platform flexibility. Beginners can use it too, but should size down: CFDs carry high leverage and raw pricing adds a per-trade commission on top of the spread.
Pros
- Raw spreads from 0.0 pips on the Razor account (commission applies)
- MT4, MT5, cTrader and TradingView — the widest platform choice
- Fast, no-dealing-desk execution; scalping and EAs allowed
- Long track record and multiple top-tier regulators (ASIC, FCA, CySEC)
Cons
- Commission on Razor accounts (factor it into the all-in cost)
- Different entities carry different protections and leverage caps
- CFDs carry high leverage risk
- US clients not accepted
Full details
- Entities / jurisdiction
- ASIC (Australia), FCA (UK), CySEC (Cyprus), BaFin (Germany), DFSA (Dubai), SCB (Bahamas), CMA (Kenya) — protections depend on which one onboards you
- Assets
- Forex, indices, commodities, shares CFDs, ETFs, crypto CFDs
- Account types
- Standard (spread-only) and Razor (raw spread + commission)
- Spreads from
- 0.0 pips on Razor (+ commission); marked up on Standard (no commission)
- Commission
- ~$3.50 per side per lot on Razor (MT4/MT5); ~$3.00 on cTrader — confirm current
- Leverage
- Up to 1:500 on offshore entities; capped at 1:30 for retail under ASIC/FCA/CySEC
- Execution
- No dealing desk, ECN-style raw pricing; scalping and EAs allowed
- Withdrawal
- Multiple methods; fees and times vary by method and entity — confirm on the official site
Who it may fit
- • Scalpers and EA/algo traders wanting raw spreads
- • Traders who want a choice of MT4 / MT5 / cTrader / TradingView
Who should avoid it
- • US residents (not accepted)
- • Beginners uncomfortable with high leverage
FAQ
- Is Pepperstone regulated?
- Yes — it operates entities under regulators including ASIC, FCA and CySEC, plus offshore entities. Confirm which entity your account is with, as protections and leverage caps differ.
- What does Pepperstone cost to trade?
- On the Razor account you pay raw spreads (from 0.0 pips) plus a commission per lot; the Standard account folds the cost into a wider spread with no separate commission. Compare the all-in cost on the instruments you actually trade.
- Which platforms does Pepperstone support?
- MT4, MT5, cTrader and TradingView — the widest platform choice among the brokers we list. Check that your preferred platform supports the tools (EAs, cBots) you rely on.
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Last checked: July 2026