Pepperstone review 2026
Pepperstone is an Australian broker focused on forex and CFDs with raw-spread pricing. It combines a broad set of licences with all four of the major third-party platforms.
Dossier Score for Global
Overall rating in progress: 30% of criteria assessed
Our assessment
Strengths
- Licensed by the FCA, ASIC, BaFin, CySEC, the DFSA and Kenya's CMA
- MT4, MT5, cTrader and TradingView are all available
- No minimum deposit on its main accounts
Weaknesses
- Privately held, so no public financial reporting
- Product range is narrower than multi-asset brokers
- Clients outside its licensed regions go to a Bahamas entity
Best for Active forex traders who want raw spreads and a choice of platforms.
How this Dossier Score adds up
The score is calculated by a published formula from the five components below. It changes with your country, because the first component follows the company that would hold your account.
Methodology v1.1. How the Dossier Score is calculated. Commissions are not an input.
Regulation and legal entities
A broker brand is usually several companies. The one you open an account with decides your leverage limit, whether you have negative balance protection, and which compensation scheme, if any, covers you.
| Legal entity | Regulator | Licence no. | Max. leverage | Our check |
|---|---|---|---|---|
| Pepperstone Limited Serves you United Kingdom, FSCS up to £85,000 | FCA Tier 1 | 684312 | 1:30 | Not yet verified by us Open register |
| Pepperstone Group Limited Serves you Australia | ASIC Tier 1 | 414530 | 1:30 | Not yet verified by us Open register |
| Pepperstone EU Limited Serves you Cyprus, ICF up to €20,000 | CySEC Tier 2 | 388/20 | 1:30 | Not yet verified by us Open register |
| Pepperstone GmbH Serves you Germany | BaFin Tier 1 | 151148 | 1:30 | Not yet verified by us Open register |
| Pepperstone Financial Services (DIFC) Limited Serves you United Arab Emirates | DFSA Tier 2 | F004356 | Varies | Not yet verified by us Open register |
| Pepperstone Markets Kenya Limited Serves you Kenya | CMA Tier 2 | 128 | Varies | Not yet verified by us Open register |
| Pepperstone Markets Limited Serves you Bahamas | SCB Tier 3 (offshore) | SIA-F217 | Varies | Not yet verified by us Open register |
Key facts
- Founded
- 2010
- Headquarters
- Australia
- Publicly listed
- No
- Group regulators
- FCA, ASIC, CySEC, BaFin, DFSA, CMA, SCB
- Minimum deposit
- $0
- Platforms
- MetaTrader 4, MetaTrader 5, cTrader, TradingView
- Execution
- ECN, STP
- Copy trading
- Yes
- Islamic account
- Yes
- Demo account
- Yes
Accounts and fees
| Account | Pricing | EUR/USD spread from (advertised) | Commission per lot, round turn | Min. deposit |
|---|---|---|---|---|
| Standard | Spread only | 1.0 pips | — | $0 |
| Razor | Raw spread + commission | 0.0 pips | $7.00 | $0 |
Figures in this table are the broker's own advertised conditions, not our measurements. Advertised “from” spreads are best-case values.
Spreads we measured
We have not measured live spreads for this broker yet. Until we do, cost does not count towards its rating.
Platforms and execution
Pepperstone offers MetaTrader 4, MetaTrader 5, cTrader, TradingView. Execution model as described by the broker: ECN, STP.
Deposits and withdrawals
We have not run our own deposit and withdrawal test with this broker yet. When we do, the log appears here with dates and times.
Country availability
Pick your country in the header to see which Pepperstone entity would serve you.
Not accepted, according to the broker: United States.
Questions readers ask
Is Pepperstone regulated?
Pepperstone operates through 7 legal entities in our database, holding licences or registrations with: FCA, ASIC, CySEC, BaFin, DFSA, CMA, SCB. Which entity you sign up with depends on where you live, and so does the protection you get. Check the licence number on the regulator's own register before you deposit.
What is the minimum deposit at Pepperstone?
Pepperstone advertises a minimum first deposit of $0 on its entry-level account. The amount can differ by entity, account type and payment method.
Which trading platforms does Pepperstone offer?
Pepperstone offers: MetaTrader 4, MetaTrader 5, cTrader, TradingView. Platform availability can vary between its entities.
Is Pepperstone a safe broker?
No broker is risk-free. Our Global Dossier Score for Pepperstone is 54 out of 100. The score reflects the regulator tier of the entity that serves you, the group's other licences, company structure and track record. It says nothing about whether trading will be profitable for you.
CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail accounts lose money when trading CFDs. Consider whether you understand how these products work and whether you can afford the high risk of losing your money.
Alternatives that share a regulator
| Broker | Dossier Score | Entity serving you | Min. deposit | Platforms | Actions |
|---|---|---|---|---|---|
| CMC Markets Founded 1989 Listed | 91 | CMC Markets UK plc FCA #173730 Tier 1 | $0 | Own platformMT4TradingView | Review Visit siteAffiliate link |
| Interactive Brokers Founded 1978 Listed | 91 | Interactive Brokers LLC CFTC/NFA #0258600 Tier 1 | $0 | Own platformTradingView | Review Visit siteAffiliate link |
| City Index Founded 1983 Listed | 89 | StoneX Financial Ltd FCA #446717 Tier 1 | — | Own platformMT4TradingView | Review Visit siteAffiliate link |
Dossier Score, entity and regulator are shown for the company that would serve your country. Buttons marked “Affiliate link” may earn us a commission. Unmarked buttons go to the broker's own site and earn us nothing.