Pepperstone Broker Review 2022 | Forex Trading Platform and More
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Pepperstone Broker Review

Review By: Alan Little
Review Updated: 2021-01-18
Overall Ratings
Pepperstone Fees
Trading Platforms
Mobile Trading App
Market Research
Customer Service

Pepperstone broker features

Feature Pepperstone
Minimum deposit: None
Withdrawal fee amount: None
Inactivity fee charged (Y/N): N
Max leverage: 30:1 or 500:1
Spread from: 0.0 pips
Number of instruments: 1,200+
Year founded: 2010
Time to open account: 1-2 business days
Demo account provided (Y/N): Y
Countries of regulation: UK, Australia, UAE
Products offered:

Pepperstone pros and cons

  • Market leading trading commissions
  • Excellent market flow and trading speeds
  • Very strong in forex markets
  • Various methods of automated trading are possible
  • Limited range of non-forex products
  • Mobile trading app could be improved
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Review Sections:

Who are FXTM?

Our Pepperstone Broker Review tests all aspects of Pepperstone offering, from platform to customer service. We will give you the info you need to decide if Pepperstone is a suitable broker for your purposes.

Pepperstone is an Australian broker with an agile approach and global reach. Founded in 2010 by a group of traders, its stated aim is to make the trading experience just what a trader would want it to be. They focus on offering trading that is cost-effective, fast and convenient.

Clients now also benefit from the firm’s London office, established in 2015. They are offered the choice of three top of the range platforms through which to trade. The cTrader platform has a user-friendly functionality that appeals to both new and experienced traders. In line with the broker’s reputation in the forex markets, they also offer the ‘go to’ forex execution platforms, Meta Trader’s MT4 and MT5. They are the most popular retail trading platforms globally and are something of an industry standard. Both score top marks with trading community members looking to hook up their own systematic models to the market.

Pepperstone offers traders a range of account types, CFD and Spread Bet trading and a social trading platform. That means clients can cherry-pick different aspects of the Pepperstone offering. The agile functionality is supported by a top-grade operational and regulatory framework designed to give clients a degree of confidence that their funds are secure. While the financial markets, in general, have been subject to fraud and illegal behaviour, Pepperstone has tried hard to address this issue and has gained a reputation for fairness and reliability.

Pepperstone has the feel of being built by traders, for traders. As a result, it continues to build a significant, if somewhat niche, following in the trading community. Appreciation for the service offered extends to industry awards. In 2021, Pepperstone won the InvestinGoal Awards – Best Global Broker trophy and International Business Magazine – Best Forex Broker Middle East.
The firm is a balance of agility and strength. On the one hand, there is a strong emphasis on meeting customer needs and providing innovative software tools that help its clients trade the markets. On the other, the firm is regulated by the FCA in the UK and ASIC in Australia.

Pepperstone Fees


Many Pepperstone clients will be attracted by the low brokerage fees on offer. As is often the case, brokers with something to shout about in this area typically present their pricing schedules entirely transparently. The focus on forex makes Pepperstone rates even easier to analyse and cross-reference.

Tables showing low spreads on different instruments

The only complexity comes from the broker offering various accounts, each with its terms and conditions. But with only a limited number of non-forex markets on offer, it’s still relatively easy to get a feel for the pricing. Taking forex as an example, there are four account types.

Spreads on the MetaTrader 4 platform are variable, with quotes from 22 Major Banks and Electronic Crossing Networks. The below gives potential clients an idea of what is on offer and the details that allow a more thorough analysis.

Edge Active Traders can apply to upgrade to institutional-grade terms and conditions in terms of pricing and market flow.

Table of currency pair spreads

While Pepperstone might not offer clients a whole range of ancillary services, what is provided is of high quality. Our Pepperstone broker review found that traders looking for institution-grade access into the forex markets should have Pepperstone on their list of brokers to try.

What do you think of our Pepperstone review so far?  Please leave your feedback at the bottom of the review with any of your own Pepperstone experiences that may help other traders make an informed choice.

Trading Platforms


Pepperstone clients have the option of using the ever-popular MetaTrader platforms (MT4 and MT5), which can be downloaded as a desktop platform or accessed through a WebTrader version which just requires an internet browser. The web-trader version of the platform mirrors the downloadable desktop version. It has the same functionality and even a few add-ons, such as access to Pepperstone’s proprietary forex trading technology.

Demo example of MetaTrader platform

The enduring appeal of MetaTrader platforms is that they provide traders with just what they want. Development of the Meta platforms is done incrementally, the decision being “if it ain’t broke, don’t fix it”. The MT platforms are robust, user-friendly, and packed to the brim with powerful software tools that offer a market-leading range of charts and indicators.

For many, the most important feature of the Meta Trader platforms is the reputation they have for supporting systematic trading. The MQL language it uses allows the traders to program their own indicators. Those looking for a more hands-off approach can take advantage of the MT automated trading program Expert Advisors (known in the market as EAs).

The cTrader platform comes as a desktop product that has to be downloaded or a WebTrader, browser-based platform. It has similar functionality to the MT platforms. During this review, our testers concluded the cTrader platform had a very professional feel and an attractive aesthetic. The execution interface includes a range of more advanced order type settings, including one-click, double click or indeed, the option of disabling quick trading to mitigate fat-finger mistakes. These are a nice to have feature and reflect that the needs of traders were considered during the design process.

The benefit of direct access into the markets is that flow is increased, and prices optimised. The downside is that it is not possible to provide guaranteed stop losses. This means there are theoretically instances where the market price could gap over a trader’s regular stop loss and cause considerable losses. This is a risk worth noting.

Another area where Pepperstone scores well is the technological framework they have developed. The site’s reference to “Equinix (NY4)”, “optical fibre cross-connects”, and “VPS co-location” may to the uninitiated come across as geek-speak. Those familiar with the terms or willing to learn about them will take comfort that the tech infrastructure is institutional grade. That results in trade execution latency as low as 50ms (0.05 of a second). The same attention is paid to deal flow with pricing feeds from 22 banks and liquidity providers and also access to dark pools.

The Pepperstone service is based on the use of institutional-grade technologies. The different aspects of the tech framework all work together to give traders tighter spreads, fewer delays, fewer rejects, and fewer requotes. Our Pepperstone review tests delivered very stable results.

Mobile Trading App


The Pepperstone App supports both Demo and Live account trading; it is free to download and available for iPhone and Android. The Meta Trader platform is also available on both iPhone and Android platforms and is also free to download.



This broker review considered the relative strengths of the Pepperstone app and the MetaTrader (MT4 and MT5) apps. The main conclusion is that both do the job they are set out to do and choosing between the proprietary and Meta Trader services would largely come down to personal preference.

Pepperstone Broker Review | Mobile App Comparison | We Compare Brokers

The Meta Trader app is a user-friendly means of benefiting from the Meta Trader top in class execution services. It offers more than just trading. Among other things, it’s possible to connect to brokers’ services, analyse markets, use their powerful charts and technical indicators, and view the history of your trading operations.

What do you think of our Pepperstone review so far?  Please leave your feedback at the bottom of the review with any of your own Pepperstone experiences that may help other traders make an informed choice.

Market Research


Pepperstone scores highly in terms of the research and learning materials it offers to clients. As might be expected, it scores highest in the forex category. The wide range of information comes in various formats. Novice traders are hand-held through the user-friendly ‘Learn to trade Forex’ section. The Webinars section introduces more advanced concepts that will appeal to all traders, particularly those looking to incorporate new ideas into their trading strategies. A handy archive of past webinars is available, which means support is available on most topics. The Trading Guides section holds a range of written reports covering topics such as risk management and trading strategies.

Pepperstone ticks the box in terms of the day-to-day trading tools on offer. An Economic Calendar, a Market Review research note, Smart Trader Tools and Autochartist are available. The last of those three items, Autochartist, is a valuable addition. It is a powerful piece of software that saves trader’s time. The package works by recognising patterns in price data such as Fibonacci retracements, support and resistance levels and volatility indicators. Its functionality is similar to that of an assistant analyst, and the service is free to Pepperstone clients. Autochartist can’t guarantee a trader’s decisions will be correct, but it does offer the chance for them to become more efficient and knowledgeable.

Those looking for fundamental style research or discussions of macro themes will be disappointed.

Customer Service


Pepperstone has a reputation for providing top-tier customer support and has won a multitude of industry awards in this category. Client support is offered 24/5 in a multilingual format and can be accessed via telephone, live chat or email. The support starts at registration when new clients are allocated an account manager. That feature is of particular benefit to the less experienced and refreshingly doesn’t include a hard sell.

During our testing, the help desk staff quickly responded and were very well informed. Complex issues were dealt with very professionally in all the testing scenarios.

What do you think of our Pepperstone review so far?  Please leave your feedback at the bottom of the review with any of your own Pepperstone experiences that may help other traders make an informed choice.

Address: Arch. Makariou ΙΙΙ, 195, Neocleous House, 3030, Limassol, Cyprus 70 Gracechurch St, London EC3V 1LY, United Kingdom

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