Pepperstone offers multi-regulated CFD trading with raw spreads from 0.0 pips and fast execution.
Spreads from
0.1 pips
Commission
$7 per lot round-turn
Min deposit
$10
Established
2010
Regulated by
ASIC · FCA · BaFin · CySEC · DFSA (Dubai) · CMA (Kenya) · SCB (Bahamas)
Written byLaverlane Team·Updated5 Oct 2026
Researched with AI assistance and verified by our editors
Regulation
The broker holds tier-1 licences in the UK, Australia and Germany, but international clients contract with its Bahamas entity, which sits in a tier-3 jurisdiction.
The broker runs its main retail entities under ASIC and FCA regulation, which puts it among the tier-1 supervised brokers. Pepperstone Limited holds an FCA licence in the UK, whereas international retail clients contract with Pepperstone Markets Limited registered with the SCB Bahamas.
Key facts
Key corporate details highlight over a decade of operational history.
Client-facing entity
Pepperstone Limited (UK) · Pepperstone Markets Limited (international clients)
Regulators
ASIC, FCA, BaFin, CySEC, DFSA (Dubai), CMA (Kenya), SCB (Bahamas)
Restricted countries
US, CA, IR, KP
Negative-balance protection
jurisdiction-only
Minimum deposit
$10
Max leverage (UK/EU retail)
1:30
Max leverage (Bahamas)
1:200
Max leverage (offshore entity)
1:200
Max leverage (professional)
1:500
Typical EUR/USD spread
0.1 pips
Platforms
MT4, MT5, cTrader, TradingView, AutoChartist, Smart Trader Tools
Account currencies
USD, EUR, GBP, AUD, SGD, HKD
The broker was founded in 2010 and has well over a decade of operating history. That doesn't guarantee future stability, but it counts in its favour.
Best for
Pros & cons
Fund safety
How well your funds are protected depends on which entity you contract with.
Segregated client funds rest in tier-1 banking institutions across active operating regions. Clients under Pepperstone Limited maintain coverage up to £85,000 via the FSCS, while accounts under Pepperstone Markets Limited hold no statutory compensation scheme protection.
Account terms
Account terms remain transparent without hidden inactivity penalties.
The broker says it doesn't charge an inactivity fee and would give advance notice if that changed. So a long break from trading shouldn't eat into your balance.
Costs
Trading costs feature raw spread options alongside standard markup accounts.
Razor account spreads start at 0.0 pips on EUR/USD with a $7 round-turn commission per lot. Scalpers benefit directly from tight raw spreads, while low-volume retail traders may prefer Standard pricing. Pepperstone publishes minimum spreads rather than live averages, so treat the table as a floor and expect wider spreads in fast markets.
| Instrument | Asset class | Typical spread | Unit |
|---|---|---|---|
| EUR/USD | Forex CFD | 0.1 | pips |
| GBP/USD | Forex CFD | 0.1 | pips |
| USD/JPY | Forex CFD | 0.1 | pips |
| US 100 (Nasdaq) | Index CFD | 1 | points |
| US 500 (S&P 500) | Index CFD | 0.4 | points |
| XAU/USD (Gold) | Commodity CFD | 0.2 | $ / oz |
Spreads shown are typical, not guaranteed, and widen during volatile sessions or outside main market hours. Figures reflect the broker's standard retail account.
Markets
Instrument selection covers core forex pairs and global indices.
Forex CFD
93 pairs
Index CFD
26 indices
Commodity CFD
Metals, energies, softs
Single-Stock CFD
1162 shares
Crypto CFD
Available ✓ · Weekend trading ✓
Real ownership: Stocks / ETFs
N/A for this broker, CFDs only
Instrument coverage spans over 1,350 CFDs including forex, indices, commodities, and equities. Multi-asset traders access adequate breadth, though pure stock investors need direct exchange access elsewhere.
Platforms
Platform choices cater to automated, charting, and manual workflows.
You can trade on MT4, MT5, cTrader or TradingView, and TradingView is available on Razor accounts. Algorithmic traders can run expert advisors (EAs) on MT4, and if you prefer to chart by hand, TradingView gives you advanced charting tools.
Execution
Order execution relies on high-speed straight-through processing.
The broker reports a 99.32% fill rate with no dealer intervention, although actual speed depends on your platform, connection and market conditions. It sources prices from external liquidity providers, which suits high-frequency traders, while position traders are unlikely to notice small differences in speed.
Leverage
Your maximum leverage depends on which entity you trade with.
Maximum retail leverage is 1:30 in the UK, EU and Australia, and up to 1:200 for international clients of the Bahamas entity. Caps limit your exposure but don't remove the risk of loss, and if you want higher leverage you'd need professional classification, which waives some protections.
Account types
Account structures divide between commission-free and raw spread models.
| Account | Min deposit | Commission | Swap | Spread | Demo | Islamic |
|---|---|---|---|---|---|---|
| Standard | $10 | Spread-only | Standard | From 0.1 pips · Variable | Yes | Yes |
| Razor | $10 | $7 per lot round-turn | Standard | From 0 pips · Variable | Yes | Yes |
Most deposit methods start at $10, and domestic bank transfers have no minimum, so you can start small. Swap-free (Islamic) accounts are available in selected countries, so check you're eligible before you apply. Higher-volume traders may be able to get lower commissions through tiered discounts.
Funding
Deposits carry no internal broker fees, and withdrawals are free except for international bank transfers.
The broker says card and e-wallet withdrawals are usually processed within a few business days, and bank transfers can take up to seven, although your bank or payment provider can add time. International bank withdrawals cost $20.
Support
Client support is available 24 hours a day on weekdays, and the broker also lists phone and email support at weekends.
You can reach the team by live chat, phone and email, and weekend cover can differ from weekdays, so check the hours before you need help.
Availability
Global availability covers major international markets except restricted zones.
Global client onboarding accepts traders across major jurisdictions excluding restricted territories like the US. Traders worldwide access regional entities, but US residents must seek domestic CFTC-regulated alternatives.
Verdict
This broker stands out as a highly competitive choice for active forex and CFD traders. The Razor account pairs raw spreads from 0.0 pips with a $7 round-turn commission per lot, which is the pricing scalpers and algorithmic traders tend to look for.
If low latency and raw pricing matter to your strategy, you'll find a strong setup here.
High-frequency traders, scalpers and EA users are likely to get the most from its infrastructure.
FAQ
You can close your account by submitting a request in the client portal. Close any open positions and withdraw your balance first, and support will process the closure at no charge once your funds have cleared.
Verification typically takes one to two business days. Standard applications are often cleared by automated identity checks within one business day, but if you need to send extra documents it can take up to two.
Contact support directly and ask which clause was cited. Accounts can be closed or suspended automatically when they trigger the terms of business or a risk check, so the compliance team is the one who can review your case.
You connect using the server details generated for your account. Select the broker's server in the MetaTrader 5 login panel and enter the credentials from the client portal, which work for both live and demo accounts.
The broker says it uses an agency, no-dealing-desk model on both Standard and Razor accounts and sources pricing from external liquidity providers. CFDs are contracts between you and the broker's legal entity, so check that entity's client agreement for how your orders are handled.
Alternatives
Eightcap offers CFDs on 850+ markets through TradingView, MetaTrader 4, MetaTrader 5 and TradeLocker, with a Raw account that starts from 0.0 pips. Clients outside the regulated regions contract with Eightcap Global Limited in The Bahamas, which carries no statutory compensation scheme.
Octa offers swap-free forex and CFD trading on OctaTrader, MetaTrader 4 and MetaTrader 5, with no trading commission and a $25 minimum deposit. Accounts on octabroker.com are with Versustrategy Inc, registered in Saint Lucia, and the legal documents page lists no financial regulator.
JustMarkets offers leverage of up to 1:3000, swap-free trading and MT4, MT5 and its own app, but international clients contract with an offshore Seychelles entity without a statutory compensation scheme.
FXCM offers forex and CFD trading on Trading Station, MetaTrader 4 (MT4) and TradingView. Accounts on the international website are with Stratos Global LLC, an offshore entity in St Vincent and the Grenadines that sits outside the group’s regulated companies.
ThinkMarkets offers ThinkTrader, TradingView, MT4 and MT5 with 4,000+ instruments and leverage of up to 1:500 on Standard and ThinkZero accounts. International clients contract with a Seychelles-licensed entity.
IronFX operates as a retail CFD broker providing high leverage up to 1:1000 on MetaTrader 4, but international clients contract through an offshore entity without statutory compensation protection.
CFI Financial offers MT5, TradingView and its own app with no minimum deposit and leverage of up to 1:500. International clients trade with CFI International Ltd, licensed in Mauritius.
EC Markets offers MT4, MT5 and its own app with a $10 minimum deposit on STD and ECN accounts and leverage of up to 1:1000. International clients trade with the Mauritius-licensed entity.
General CFD risk warning
CFDs are complex leveraged products and carry a high risk of rapid losses. They do not give you ownership of the underlying asset. Depending on your jurisdiction, broker entity and client classification, protections such as leverage limits and negative-balance protection may differ or may not apply. Where negative-balance protection is not provided, losses may exceed the funds you deposit. You should consider whether you understand how CFDs work and whether you can afford the high risk of losing your money.
Disclaimer
This page is provided for general information only. Nothing on this page constitutes investment, tax or trading advice, or a recommendation to open an account or trade with a particular broker. Laverlane does not provide personalised investment advice. We are not a broker or financial institution, we do not arrange or execute trades, and we do not hold client funds.
Broker availability, spreads, fees, leverage, products and legal protections, including compensation schemes and negative-balance protection, vary by the broker’s legal entity, your country of residence and your client classification, and may change over time. Where a broker is required to publish its retail CFD loss rate, that figure is shown on its review page. Spreads shown are typical figures as at our verification date; they are not guaranteed and may widen, particularly during volatile market conditions.
Laverlane Scores reflect the information available at our most recent review. They are editorial assessments, not guarantees of a broker’s financial strength, reliability or future performance. Where we report a regulator warning or enforcement notice, it reflects the official public information available at the time of our review.
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