Pepperstone Review

  • ASIC Regulated
  • Leverage up to 500:1 with tight spreads
  • Negative balance protection
  • 24/5, live chat, email customer service

This homegrown Australian, ASIC-regulated, broker with 500:1 leverage, super tight spreads on the majors, has impressed us continually and has a strong Global following. With top ratings in areas like client satisfaction, customer service, financial transparency, and trade execution speeds, we feel that this broker is definitely worth checking out. You even get Qantas Frequent Flyer points for transactions.

Account Types:

Besides the demo account, Pepperstone as three strong account options for the serious trader.

Standard Account: This is the Pepperstone classic account that offers Interbank spreads and competitive liquidity with no commission on the trades.  Use your MT4 account on this account, get negative balance protection and even electronic assistance with risk management.  A good standard account, with a very solid foundation and not many additional frills.

Razor Account:  This is the more premium of the accounts, where Pepperstone really demonstrates transparency by making the cost of every trade available to you.  With this account and a minimum deposit of $200, you get even tighter spreads from deeper liquidy centers, while being allowed EAs, hedging, and scalping.

Islamic Account:  Very similar in setup to the Razor account with a $200 minimum deposit this account is a straight-through-processing and swap free account.


Pepperstone is a good match for Australians because accounts are held in separate accounts, broker staff must meet training standards and the accounts are regularly reviewed by external auditors. ASIC regulated.


The two most popular trading platforms are available at Pepperstone.

  • MetaTrader4 which is easy to use has charting features and executes trades very easily.  MetaTrader4 is the gold standard of Forex trading software that is compatible with most ECN/STP brokers.
  • cTrader is used mainly by the more advanced Forex trader on day trades and using expert strategies.

The speed of the transactions is due to Pepperstone having a direct fibre optic link to Uquinix, just 18 km from Wall Street.

Spreads and Leverage

Leverage is the one of the highest on the market at 500:1 and spreads can be as low as 0.1 pips when dealing with USD/EUR in the Razon account.  The spreads might even go as low as 0 when there is more liquidity in the market and access to capital.

Deposits and Withdrawals

All the major cards can be used with all accounts. Withdrawals by Australians into Australian banks is a smooth and speedy operation.

Customer Support

Pepperstone is a fairly new player in the Forex game compared to most other brokers, but it has worked hard to build a great reputation through good support.  24-hour email and phone assistance are available from any of the London, Melbourne, Shanghai, Dallas and Bangkok offices.

My thoughts.

Pepperstone is a solid Forex trading company that provides top customer service, with great technology and with trading conditions that are hard to beat.  If you want an Australian ASIC-regulated broker, Pepperstone is a strong competitor.