Pepperstone Forex Broker Review – A Detailed Look at This FX Trading Platform

Pepperstone Broker Review: Everything you need to know about this broker to decide if it's the right fit for your forex trading needs.

Carson O.
14 Min Read
Pepperstone COURTESY

Pepperstone is one of the most popular and highly rated forex brokers in the industry. Founded in 2010 and based in Melbourne, Australia, Pepperstone has grown rapidly over the past decade to become a top choice for active currency traders worldwide.

In this detailed Pepperstone review, we will cover everything you need to know about this broker to decide if it’s the right fit for your forex trading needs. We will look at Pepperstone’s trading platforms, account types, spreads and commissions, customer support, regulation and safety, and more.

Overview of Pepperstone

Pepperstone offers trading in over 70 currency pairs, metals, energies, stock indices, and cryptocurrencies through two main proprietary trading platforms designed for active traders:

  • cTrader – Pepperstone’s flagship platform that was launched in 2010. cTrader is a highly customizable platform with advanced charting, trading tools, and algorithmic trading options. It’s ideal for experienced traders looking for more flexibility.
  • MetaTrader 4 (MT4) – The MT4 platform is also available from Pepperstone. MT4 is very popular among retail forex traders due to its ease of use, charting capabilities, Expert Advisors (EAs), and extensive backtesting options.

In addition to the two main platforms above, Pepperstone also offers:

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  • WebTrader – A browser-based version of cTrader that allows traders to access their accounts without downloading any software.
  • Mobile Apps – iOS and Android mobile trading apps are available for cTrader and MT4. This allows users to trade currency pairs and CFDs on the go.

Pepperstone is regulated by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services License (AFSL #414530). It also has authorization from other top-tier regulators like the UK’s Financial Conduct Authority (FCA) and Dubai’s Financial Services Regulatory Authority (DFSA).

Pepperstone Account Types

Pepperstone offers a selection of account types to suit different trader requirements:

  • Standard Account – The basic account that offers average spreads from 1 pip and no commissions. This uses market maker execution.
  • Razor Account – Pepperstone’s most popular account uses raw spreads from 0.0 pips through electronic communications network (ECN) execution. A low commission of $3.50 per 100k traded applies.
  • Swap-Free Islamic Account – An account tailored for Muslim traders that complies with Sharia law by having no swaps or rollover interest on positions held overnight.
  • Active Trader Program – For high volume traders, Pepperstone offers discounted commissions starting from $2 per 100k for trades above $300 million per month.

The minimum deposit to open a Pepperstone account is $200 across all account types. Compared to other top brokers, this is a relatively low minimum deposit.

Attention: Price Action Trading and how Maximize on It

Spreads, Leverage, and Commissions

As one of the largest financial brokers globally, Pepperstone benefits from tier-1 bank liquidity relationships which allow it to offer ultra competitive spreads. The interbank spreads promoted are:

  • Major pairs like EUR/USD from 0.0 pips
  • Minor pairs from 0.9 pips
  • Exotic pairs from 1.1 pips

For example, you can regularly see spreads of less than 1 pip on EUR/USD during active trading hours on the Razor account. This pricing is truly among the best in the industry.

The maximum leverage offered also depends on your base currency and account type, but can be as high as 1:500. However regulators like ASIC now have stricter leverage limits – for example a maximum of 1:30 for major forex pairs when trading using an Australian-based account.

As mentioned earlier, no commissions apply on the Standard account. If you use the Razor ECN account, the commission is a very competitive $3.50 charged per 100k units traded. So a trader buying/selling 0.1 lots (=10k units of base currency) would pay around 35 cents in commission. High volume traders can receive discounts on the Razor account commissions through the Active Trader Program.

Overall, Pepperstone’s spreads and commissions are among the lowest and most competitive in the retail forex trading sector. Their pricing has helped them become a market leading broker in multiple countries like Australia, UK, Singapore, and South Africa.

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Platforms and Tools

Now let’s explore Pepperstone’s trading platforms in more detail:


cTrader is Pepperstone’s own proprietary platform and the most popular choice among their clients. Here are some of the key features and benefits of cTrader:

  • Advanced Charting – cTrader provides a wide range of technical indicators, chart types (like Renko and Heiken Ashi), and drawing tools for comprehensive market analysis over 70+ FX pairs.
  • Trading Tools – One click trading, bracket orders, stop and limit orders, and algorithmic ‘Robox’ trading bots are supported.
  • Customization – You can fully customize the platform’s appearance, charts, and layouts and save multiple workspace setups.
  • Automation – Expert advisors and automated strategies can be built using the cTrader scripting language cAlgo. VPS hosting available.
  • Client Sentiment – See percentage of clients long/short on a particular instrument.

cTrader delivers a desktop experience comparable to popular platforms like MT4, but has the advantage of ECN execution for lower spreads. For active and professional traders, cTrader should suit most trading requirements.

MetaTrader 4 (MT4)

For traders more comfortable using the globally popular MT4 platform, Pepperstone also provides this. Key features include:

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  • EAs (Expert Advisors) – Program your own trading algorithms and robots or use the hundreds freely available. Auto trading is fully supported.
  • Technical Analysis – MT4 also comes equipped with a full suite of indicators and charting tools.
  • Backtesting – Test automated strategies over historical data to gauge their potential.
  • MQL4 Code Base – Develop custom indicators, scripts, and EAs using MQL4 in MetaEditor.

Overall the MT4 platform retains its huge popularity due to being easy to use for beginners yet also having enough features for more experienced traders. It’s a great choice for traders migrating from another broker who already use the familiar MT4 interface.

Mobile Trading Apps

Pepperstone offers mobile apps for iPhone, iPad, and Android devices. These let you monitor the markets and execute trades from anywhere. The apps include full accounts management, price alerts, and risk management tools.

The apps are available in two versions – for cTrader and MetaTrader 4. So download the app matching the platform you normally use on desktop.

Social Copy Trading

Pepperstone integrates with two leading social copy trading platforms – Myfxbook AutoTrade and DupliTrade. These let you automatically copy positions opened by top-performing traders.

Social copy trading is suitable for beginners looking to piggyback on experts. But as usual beware the risks and manage your portfolio wisely.

Customer Support

Customer support at Pepperstone is available 24 hours a day, 5 days a week via:

  • Live Chat – The fastest way to get help from a live agent. Wait times are usually under 1 minute.
  • Phone – Speak to a support rep at various global numbers like +61 3 9020 0155 or +44 (0)800 0465473.
  • Email – Get assistance via [email protected]
  • Knowledge Base – Pepperstone has an extensive education section including trading guides, webinars, ebooks, and video tutorials.

In our experience, Pepperstone delivers exceptional customer service standards. Support agents are very knowledgeable about forex trading and the broker’s services. Phone and chat queries are dealt with promptly.

Security and Regulation

Security should be a top priority when choosing a forex broker. Pepperstone keeps client funds in fully segregated accounts at tier-1 banks like National Australia Bank and Barclays.

The broker also uses industry standard SSL encryption on its website and apps. This protects your personal data and financial information.

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Importantly, Pepperstone holds regulation and licensing with top-tier authorities like:

  • Australian Securities and Investments Commission (ASIC)
  • UK Financial Conduct Authority (FCA)
  • Dubai Financial Services Regulatory Authority (DFSA)

This strong regulatory oversight ensures Pepperstone adheres to strict standards on capital adequacy, segregated accounts, reporting, and audit requirements. Your money and investments have maximum protection.

Deposits and Withdrawals for Kenyans

Pepperstone accepts MPesa as a funding method for traders in Kenya. There are no fees for depositing or withdrawing funds using MPesa.

To deposit funds using MPesa, you will need to:

  1. Log in to your Pepperstone account.
  2. Click on the “Funding” tab.
  3. Select “MPesa” as your funding method.
  4. Enter your MPesa phone number and the amount you want to deposit.
  5. Click on the “Deposit” button.

To withdraw funds using MPesa, you will need to:

  1. Log in to your Pepperstone account.
  2. Click on the “Withdrawal” tab.
  3. Select “MPesa” as your withdrawal method.
  4. Enter your MPesa phone number and the amount you want to withdraw.
  5. Click on the “Withdraw” button.

Your funds will be deposited or withdrawn into your MPesa account instantly.

Here are some of the benefits of using MPesa to fund your Pepperstone account:

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  • It is a convenient and secure way to deposit and withdraw funds.
  • There are no fees for depositing or withdrawing funds.
  • The minimum deposit amount is low.

Other supported deposit methods in Pepperstone are:

  • Visa and Mastercard credit cards
  • Bank wire transfer
  • Skrill
  • Neteller
  • PayPal

Withdrawals can be made back to your credit card or via bank wire transfer. No fees apply for deposits and withdrawals.

The minimum deposit is $200 across all account types. Kenyan shillings can be deposited but will be converted to your chosen account base currency (either USD, EUR, GBP, or AUD).

Swahili Support

While Pepperstone’s customer service is available 24/5, it is currently only provided in English. Swahili language support is not offered.

So Kenyan traders will need to be comfortable communicating with Pepperstone’s support team in English via live chat, email, or phone.

Is Pepperstone Good for Kenyans?

Pepperstone is considered an excellent forex broker for Kenyan traders for these key reasons:

  • Tight spreads from 0 pips on 70+ currency pairs
  • Fast trade execution speeds
  • Regulated in Australia and UK (ASIC and FCA)
  • Accepts Kenyan clients and allows deposits in KES
  • Supports popular payment methods like M-Pesa, credit cards and Skrill

Pepperstone – Pros and Cons


  • Regulation from top-tier authorities (ASIC, FCA, DFSA)
  • Ultra low spreads from 0 pips and low commissions
  • Fast execution speeds and tight spreads on cTrader ECN
  • Many currency pairs and CFDs across global markets
  • Excellent platform choice including cTrader and MT4
  • Social copy trading supported
  • Award-winning customer service


  • Basic education – competitors have more learning resources
  • Higher minimum deposit than some other brokers
  • Limited global payment methods – focused on cards & wire transfers


Pepperstone is a highly reputable online forex broker that delivers professional trading services. Features like low spreads from 0 pips, fast execution, regulatory safeguards, and excellent 24/5 client support have fueled Pepperstone’s rapid growth.

Active traders should strongly consider Pepperstone for competitive pricing across over 70 currency pairs. Beginners also have plenty of educational resources and platform choices available to get started.

Overall in our expert opinion, Pepperstone ranks among the top forex brokers in the world and is a great choice for traders of all experience levels. Open a Pepperstone account today and join over 70,000 clients who already use them.

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I am a multi-faceted professional with a strong foundation in Business and Finance, honed since 2020. Additionally, I possess a deep passion for automobiles, serving as an avid car enthusiast. In parallel to my diverse interests, I am also a dedicated student pursuing a career in the medical field.
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