Broker Pepperstone
Website URL
Founded 2010
Headquarters Melbourne, Australia
Support Types E-mail, Chat
Languages English, Japanese, Chinese, Russian
Trading Platform MetaTrader 4, MetaTrader 5, cTrader, WebTrader, Smartphone And Tablet Apps
Minimum 1st Deposit $200
Minimum Account Size $200
Bonus MT4 Demo, Edge Technology
Leverage 500:1
Spread Variable, from 0.0 Pips
Free Demo Account Yes
Regulated Yes
Account Types Standard, Razor, Platinum, Islamic (Swwap Free), Active Treaders
Deposit Methods Verified by Visa, MasterCard SecureCode, Credit / Debit Card, PayPal, POLi, Instant bank transfers, China Union Pay, Bank Transfer (Domestic & International), Traditional bank transfer, BPay, Skrill, Neteller, Webmoney, Qiwi, Fasapay, Broker to Broker
Withdrawal Methods Credit / Debit Card, PayPal, POLi, China Union Pay, Bank Transfer, BPay, Skrill, Neteller, Webmoney, Qiwi, Fasapay, +Other
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 4.75/5


  • 70+ Currency Pairs, Gold, Silver and Oil
  • Flexible Leverage options available including up to 500:1
  • Pepperstone offers retail investor’s access to their institutional ECN with raw pricing.
  • All trades are 100% automated with no dealing desk intervention. Trades are executed and settled instantly - no delays, no rejections, no requotes.
  • All client funds held segregated from the business in Custodian Bank – The National Australia Bank. Fully Audited by Ernst & Young – The world’s Big 4 Audit firm.
  • Trade 24/6. From Market Open in Auckland at to Market Close in New York – Pepperstone provides continual 24 hour access to the global forex market.
  • Dark Pool Liquidity - Pepperstone unlocks access to dark pool liquidity sources usually unavailable to retail investors meaning better pricing for your trades.
  • You Can Trade a wide range of CFDs including the AUS200, Japan 225 Index, EU Stocks 50 Index, US SPX 500 Index and the US Tech 100.
  • Industry leading 11 trading platforms including MT4 and cTrader


  • They do not allow customers from US

Pepperstone Review

Pepperstone, established in 2010, is an Australian-based ECN broker. It was founded in 2010 and is regulated by ASIC (license number AFSL No.414530).  Pepperstone is an ideal no desk broker that accommodates all trading styles. The broker’s website belies the exciting trading experience that lies within its trading platform. The company is based in Melbourne, Australia and has offices in Dallas, USA and Shanghai, China.

Pepperstone has been nominated for and won numerous industry awards for innovation and excellence in Forex Brokerage. It was awarded the fastest growing company in Australia by BRW Magazine in 2014 and was the 2014 Winner of the Governor of Victoria Export Awards.

Pepperstone’s servers are hosted in the Equinix NY4 centre in New York, just miles from major banks and liquidity providers in the heart of Wall Street. Pepperstone offers the ever reliable MT4 platform, as well as the newer and more advanced technology of the cTrader platform for all clients. Completing the full platform range, both cTrader and MT4 accounts can be traded through the desktop platform, Mac OSX, web-trader, Android and iPhone devices.

Key Features of a Pepperstone Trading Account:

  • Raw Interbank Spreads from 0.0 pips
  • Choose from 11 leading Online Forex Trading Platforms
  • Access 77 Trading instruments including FX, metals, oil and indices
  • Australian regulated firm
  • Dark Pool Liquidity from 20+ Banks
  • Simple and fast methods of deposits and withdrawals

Industry Leading low transaction charges:

  • 77 trading instruments with institutional grade pricing
  • Up to 500:1 leverage
  • Ability to trade micro lots on currencies, metals and oil.
  • 11 Major Index CFDs from 0.1 pip spread and $1 per point.
  • All trading styles welcome including all EA’s and full hedging

Funding Methods:

  • Bank Wire, Credit/Debit cards, Skrill, Local Bank Deposit, Neteller, Bpay, Union Pay and more
  • Start from as little as $200 AUD account size
  • Account currencies in AUD, USD, EUR, CAD, GBP, CHF, JPY, NZD, CAD, SGD and HKD

Trade Safer with Pepperstone:

  • Security of an Australian based, ASIC regulated provider
  • Segregated client trust accounts with AA Rated banks
  • Professional indemnity insurance with Lloyds of London
  • Over 5+ years’ experience with a multi-award winning provider
  • Negative Balance protection*, automated Risk Management System
  • Offices in Melbourne, Dallas and Shanghai


  • 24 hour live chat facility, emails and telephone support
  • Full self-service Secure Client Area for managing your account
  • Real time news feeds as well as education and market commentary
  • Regular webinars and trading education lessons
  • Absolute commitment to customer satisfaction

Execution Policy
Pepperstone incorporates trade execution, with pricing from 22 banks and liquidity providers and 100% automated execution. Pepperstone has a commitment to absolutely ‘No Dealing Desk’ intervention on any of Pepperstone trading instruments. Trade execution is from as low as 50ms of latency (0.05 of a second) and settled immediately. That means no delays, no rejects and no requotes.


Pepperstone has several unique trading accounts. The Edge Standard account, designed for normal traders, uses Institutional Grade STP Spreads and there are no commissions. The Edge Razor account is designed for advanced and EA traders and uses Raw ECN Spreads from 0.1 pips and charges $3.5 commission per 100k trade.


Standard STP

Their classic account type provides access to Pepperstone’s Interbank spreads and superior liquidity with No Commission

Standard STP account

Advantages of trading with Pepperstone:

  • Interbank spreads from 1.0 pips
  • The world’s favourite forex platform: MT4
  • Australian-regulated firm
  • STP processing and liquidity from 22 banks and ECN’s
  • Negative balance protection*, automated Risk Management System

Razor Account- The Raw Spread Forex Trading Account

The Pepperstone Razor account gives you direct access to some of the world’s deepest liquidity with fully transparent trading costs.

Access Deep Interbank Liquidity

A Razor account features cutting edge infrastructure that allows traders to benefit from flexible leverage, trading from 0.01 lots and Pepperstone advanced algorithms that route trades with lightning fast execution speed.

Pepperstone Razor Account Features

Spread Type

Raw Interbank Direct Pricing

Average EURUSD Spread

0.0 – 0.8 pips

Min / Max Trade Size

0.01 lots / 100 lots

ECN Commission

AU$3.5 per 100k traded

Leverage available

up to 500:1

Min Account Opening Balance

$200 AUD or equivalent

Account Base Currencies Available


Scalping Allowed


EAs Allowed


Hedging Allowed


Islamic Account

The Pepperstone Islamic account, is designed for traders who cannot receive or pay swaps for religious reasons. The trading account is compliant with Sharia law enabling traders to take advantage of Pepperstone’s cutting edge trading technology and deep liquidity.

Islamic account features:

Spread Type Straight Through Processing | No Swaps
Average EURUSD Spread 1.0 – 1.2 pips
Min / Max Trade Size 0.01 lots / 100 lots
Commission $0
Min Account Opening Balance $200USD or equivalent
Account Base Currencies Available AUD, USD, EUR, SGD
Scalping Allowed Yes
EAs Allowed Yes
Hedging Allowed Yes

Pepperstone also offers Active traders and Institutional Partners an additional account, the Platinum account with a higher level of service in addition to superior ECN EDGE execution. This is a segregated account with a dedicated relationship manager.

A Forex swap rate is available in Islamic accounts for holding positions overnight without interest in foreign exchange trading.

I was pleased when doing this Pepperstone review to find that there is a demo account that uses the MT4 platform.

Active Traders and Institutional Partners

Pepperstone offers higher level of service in addition to superior ECN EDGE execution for Pepperstone Active Traders and Institutional Partners.

Pepperstone - Active Trader

Available Services

  • Dedicated Relationship Manager:
    A dedicated manager will work with you and Pepperstone network to analyse your needs and offer a tailored solution to achieve your goals.
  • Segregated Customer Account:
    Take advantage of Pepperstone established relationship with Australian banks to setup a segregated tripartite account.
  • Advanced Reporting:
    Extensive reporting such as volume tracking, end of day P/L and daily equity snapshots.
  • VPS Hosting Services:
    Hosting solutions to run automated strategies and take advantage of Pepperstone low latency EDGE infrastructure.
  • Custom Solution:
    Multiple means of trading; including API, FX GUI and leading third party platform providers.

Edge Technology

The EDGE Environment is the most comprehensive, highest-performance portfolio of enterprise Forex Trading Technology for clients who seek to unlock unparalleled execution acceleration and reduced spreads.

EDGE Technology from Pepperstone

EDGE allows Pepperstone clients direct Interbank Trading via MetaTrader 4 – The world’s favourite FX trading platform.

Faster – Up to 12x improvement in execution speed, Up to 10x latency reduction with additional optical fibre connections to Interbank Servers in New York. New One-Click MT4 order window for Ultra-Fast Trade Placement.

Smarter – Pepperstone Price Improvement (PPI) Technology intelligently routes FX orders to detect market-hot spots and deliver optimal prices. Gain a complete market view with 57 Additional Tradable Currency Pairs. New Market Depth display in MT4 enables analysis of FX market order book and liquidity.

Tighter – New Dark Pool Liquidity access and enhanced interbank connectivity means EDGE Spreads are tighter – delivering cost savings on every trade for Pepperstone Clients. Transparent and seamless access to the global currency market has never been more accessible to retail FX Traders than with EDGE.

EDGE allows Pepperstone clients direct Interbank Trading via MetaTrader 4 – The world’s favourite FX trading platform. Other features Edge technology offers are:

  • Ultra Low Spreads
  • One Click Trading
  • Dark Pool Liquidity
  • Secure Client Area
  • Price Improvement Technology
  • 70+ Tradable Instruments

One-click Trading

Pepperstone have produced a new tool that enables One Click Trading via MetaTrader 4. “One-Click Trading” was designed with the speed sensitive trader in mind. In today’s volatile financial markets, every second can count, and “One-Click Trading” can give you an EDGE in navigating them.

Lower Spreads

Aggregating Tier-1 Multi-Bank Liquidity from the largest selection of Banks using Pepperstone Interbank Network in New York – Pepperstone is able to offer Pepperstone clients the tightest Interbank Spreads and trading conditions.

Lower Spreads

Superior Technology

Pepperstone - Superior Technology

EDGE brings together 10 optical fibre cross connects directly from Bank Servers to Pepperstone MetaTrader Master Server – This enables lower latency trading and ensures optimal fills with slippage minimisation for Pepperstone clients. EDGE has also been built with stability in mind combining state of the art computing power and redundant backup capability.


70+ Tradable Pairs

EDGE delivers 70+ Currency Pairs and has the largest selection of exotics offered by any FX broker in the marketplace.

Pepperstone - 72 Currency Pairs

Pepperstone uses superior liquidity to stream 70+ Currency pairs including European Exotics such as EUR/PLN and Nordic-Asian Crosses such as SEK/JPY.

Market Depth

Pepperstone - ECN Market Depth

See Interbank Market Depth – Analyse the interbank order book to make more informed trading decisions. See pockets of liquidity and trade large lot sizes with confidence.

What is the Depth of Market?

Spreads in FX should always be considered in conjunction with depth-of-book. In FX, the larger the ticket size, the wider spread is. Depth of Market is a measure of volume available for transaction purposes for a particular instrument at a certain point in time. The best Offer (ASK) and the best BID are displayed in a table along with the capped volume available at given prices.

Self Service Client Area

The Pepperstone Client Area is a secure trading account management facility for EDGE clients. Pepperstone proprietary internet gateway allows you to manage your Forex Trading Accounts within a secure and safe environment, with advanced SSL encryption technology.

With Instant Funding via Credit Card – have confidence that you can fund your trading account 24 hours a day 7 days a week.

Dark Pool Liquidity

Pepperstone - Dark Pool Liquidity

Because there is no central exchange in the Forex Markets, liquidity exists in multiple fragmented FX pools across different interbank venues and bank systems. Pepperstone EDGE unifies these dark pools and delivers unparalleled depth of market to the retail FX Trader. Block Orders and High Volume Strategies such as Scalping can be delivered into the market with maximum price efficiency.

Pepperstone Price Improvement (PPI)

In volatile, fast-moving markets, prices can change extremely quickly. If prices move to your advantage as you’re placing a trade, Pepperstone PPI Price Improvement technology can automatically fill your order at the more favourable level.

  • Step 01 – You place a trade at the current market price through Pepperstone online trading platform.
  • Step 02 – The market price may move in your favour between the time the trade is placed and the time it is executed.
  • Step 03 – Pepperstone Price Improvement technology detects the favourable price movement. If possible, your price is filled at the improved level. Pepperstone don’t requote – they just give you the better price.

The Award Winning Broker

Pepperstone has been recognised and awarded many times for innovation, technology and offering clients the best possible trading conditions. Pepperstone EDGE technology and RAZOR accounts lead the way in retail forex trading.

Visit Broker

Social reviews
Forex trading carries a high level of risk and may not be suitable for all investors. Before you engage in trading foreign exchange, please make yourself acquainted with its specifics and all the risks associated with it. All information on is only published for general information purposes. We do not present any guarantees for the accuracy and reliability of this information. Any action you take upon the information you find on this website is strictly at your own risk and we will not be liable for any losses and/or damages in connection with the use of our website.
Copyright © 2017. All Rights Reserved.