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Quick Summary

Pepperstone is an Australian based forex and CFD broker who were founded in 2010. Compared to rival firms, they are one of the younger forces in the market - but have grown at a steady pace over the years. In 2016, Pepperstone sold most of the business to Australian investment firm CHAMP Private Equity.

Today, they have over 65,000 active clients in over 60 countries, transacting over $100 billion every single month. They are regulated by the FCA and ASIC, with offices in major trading hotspots like the US and London. Clients can benefit from access to over 60 forex pairs including majors like EUR/USD. In this Pepperstone review, we take a look at the spreads on offer and the platform tools you can use to optimise your trading.

Spreads and Fees

The Australian broker offer what they like to call razor tight spreads - and these exceptionally low spreads are available for certain account types. On a standard account, spreads can be as low as 1 pip on the EUR/USD - with an average 1.16 pip to be expected (under normal trading conditions). The standard forex account (known as Standard STP) charges no commission - all prices are reflected in the spread.

The Razor Forex Trading account on the other hand will charge commission - but with some major boons. The most notable is the spreads on offer - which really do live up to the phrase razor tight. With a razor account, you can expect spreads as low as zero and an average spread of 0.16. On top of this, you can also take advantage of significant leverage (up to 500:1) To open this account, you will need to make a minimum $200 deposit - and every 100k traded will administer a $3.5 commission fee.

Other account types on offer include an Islamic Trading account (which is compliant with Sharia law) and an Active Traders account. For high volume traders, the Active Traders account is perfect - offering highly competitive spreads as well as a dedicated relationship manager.

Trading Platforms

Pepperstone offers a choice between Metaquotes Software Corporations popular MetaTrader platform or Spotware Systems cTrader platform. Let’s first start with MetaTrader, one of the most popular forex trading platforms in the world. MetaTrader 4 is the primary platform available with desktop, web and mobile apps available. There is also mention of MetaTrader 5 - but at the time of writing, the website states this was coming soon.

As expected from one of the world’s leading platforms, you can expect to find a number of useful charts and drawing tools to find the next trading opportunity. There are also over 80 technical indicators to further enhance your trading results even further. Both the desktop and web versions of MetaTrader 4 are identical - but there is a key functional difference; automated trading strategies are only supported on the desktop version. 

There’s also cTrader of course, which offers another alternative to advanced traders who need lightning fast execution. Both the cTrader and cAlgo platforms support automated trading and feature intuitive user interfaces which are simple to use. Within the cTrader platform, you can create multiple watchlists, use a range of technical indicators and annotate data rich charts with a deluxe suite of drawing tools.

Mobile Apps

If you need flexibility in your trading, then you can take advantage of the Pepperstone mobile trading solutions; you can choose the MetaTrader 4 mobile app or the cTrader app. Both of these apps can be found on the Google Play Store and iOS App Store.

Both apps feature state of the art user interfaces, making it easy to place your next forex trade. And like other exemplary trading applications, these apps allow you to access a full range of charts and drawing tools to maximise your mobile trading results.

Research Tools

While Pepperstone do offer free research, the resources available pale in comparison to other forex brokers. There is a market review section, where analysts will share their thoughts and ideas on various trends and events. And there’s also an economic calendar, giving you the opportunity to see future trading opportunities.

Arguably, the highlight of all the research tools on offer is the Technical Analysis software powered by Autochartist. If you’re looking to make even more informed trading decisions, then this software is idea. The technology keeps an eye on the markets 24 hours a day and has automated alerts baked right in. While research may be on the lacking side, the analysis software does somewhat make up.

Education is one of the areas where this broker really shines, new traders can take advantage of a number of free webinars, guides and learning tools to improve their forex trading game. If you need a refresher or want to brush up on your current skills, then this section is for you.


You can fund your account via two ways; you can either use a debit/credit card or you can use one of the compatible e-wallets like Skrill or Neteller. To open a Pepperstone forex account, you will need to deposit a minimum of $200USD or equivalent. Upon opening your account, you can also set your required leverage - from 1:1 to 500:1.

Withdrawals received before 21:00 GMT will be processed on the day - but forms submitted after this time may be delayed until the next day. Bank wire transfers will usually take between 1 - 3 working days.

Client Support

If you need assistance then there are several options available to you; live chat is one of the most efficient options. We found the representative to be not only courteous but also incredibly knowledgeable when answering our test questions. If live chat is not available for whatever reason, then you can also contact the Pepperstone support team via telephone.

Other Products

With this broker, you can speculate on a number of different markets - including indices, shares and precious metals. Cryptocurrency is one of the latest new trading options available, giving you the opportunity to trade on the movements of Bitcoin, Ethereum and newer crypto like Litecoin with up to 5:1 leverage.

Our Verdict

For more advanced traders or traders looking for more automation tools - we highly recommend Pepperstone’s offering. Low spreads, the razor account option and huge leverage potential makes this an appealing option for forex traders. But if you are inexperienced, you may find this broker and all of the tools available to be slightly overwhelming. With a rich resource of free education however, you could build up sufficient knowledge.