Pepperstone — Forex Broker

Doesn't accept US tradersUS traders
  • Free education
  • Trading by telephone
  • PAMM accounts
  • MAM accounts
  • Segregated accounts
  • Affiliate program
  • Islamic accounts available

  See Pepperstone reviews

6.6/10 (8 qualified reviews)
Company Pepperstone Financial Pty Ltd.
Founded and online since 2010
Offices in Australia
United States
Payment options Credit/debit cards
Wire transfer
Demo platforms
  • MetaTrader 4 (Limited with 30 days)
  • MT4 Mobile (XOGEE) (Limited with 30 days)
Account currencies Show account currenciesHide
Currency pairs Show currency pairsHide
Regulated by ASIC, 223682
Website available in Chinese
Support available in Chinese
Support methods Email
Live chat
Trading server time zone GMT+3
Conditions for VIP traders The Platinum program is open to clients that trade over 1,000 full size lots in a calendar month. A free <a href="">CNS VPS</a> will be provided to all platinum clients together with priority deposit and withdrawal methods.

Account Types

Minimum account size $200
Minimum position size 0.01 lot
Spread type Variable
Typical spread on EUR/USD, pips 1
Minimum spread on EUR/USD, pips 0.5
Scalping Encouraged
Expert advisors Encouraged
Trading instruments
Forex 1:400
Gold & silver 1:400
Trading platforms MetaTrader 4
MT4 Web Trader (XOGEE)
MT4 Mobile (XOGEE)
Digits after the dot in quotes 5
Margin call level 90%
Stop-out level 20%
Minimum distance to stop/limit orders, pips 2
Number of currency pairs (of which exotic) 31 (10)
  • Hedging
  • Overnight interest rates (swaps)
  • Trailing stop
  • Pending orders
  • One-click trading
  • Mobile trading
  • Browser-based platform
  • Automated trading

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View contract specifications.


24 reviews of Pepperstone are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.

 Albert from Singapore. Trading account #2XXX8
Friday, July 19, 2013

I have traded with them from nearly two years, no issues up until the other day when my EA broke down. My english is not very good but they jumped on this teamviewer program to help get get it back up and running - super support

  Ahmed Pip King from Dubai. Trading account #6XXXX2
Thursday, April 11, 2013

Worst broker ever. Prices are so bad and choppy that I can no longer use my EA with them. Tick count is the worst out of all broker and spreads are terrible. They dont even let you make moneybookers withdrawals. I have nothing positive to say about Peppertsone.

I advise all EA traders to evaluate other broker as this one is going down hill fast and you dont want to be the only one left with an account at this company.

 Alvin from Singapore. Trading account #3XXX9
Wednesday, March 13, 2013

Solid broker, good spread on majors. would prefer that they had CFD's on Oil and indices as I need mulitple brokers to trade with increasing my margin requirements

  Sam from Norway.
Saturday, January 19, 2013

I have and account with Pepperstone financial for 4 months now, and this is the second time I am facing huge issues with price and order executions, first time they accepted that it was their fault and returned my losses. The other night my stop loss order was triggered and my position was liquidated when price did not reach that level.

I even sent emails to their managers and spoke to them on the live chat but they were not helpful or cared about my situation.

Because of this I would say that their customer service and trading environment is pathetic, stay away from them.

  Galan from Denmark.
Friday, January 18, 2013

I want to complain about the service from Pepperstone. I have made a withdrawal more than 3 weeks ago from Pepperstone. Pepperstone said that the money was paid. And still I have not received anything in my account.

I have asked them to send me a proof of the payment that they have send to me. And still I have not received the proof on my email.

They said that the case was prioritized on their side. I have asked for the proof on email that my case was in fact prioritized and yet I have not received anything from Pepperstone.

Once I speak to the chat support. All I get as an update on my case is the email that was send to me already long ago. So all that they do is copy and paste the email for me in the chat. That does not help me at all.

Urgent response would be greatly appreciated. I think they are a terrible forex broker because withdrawals are slow and slippage is up to 20 pips on my account.

Better brokers in Australia to choose from.

  Victor from Germany.
Saturday, January 5, 2013

Started as a reasonable broker but slided subsequently downwards and balances for the moment at the boundary to the junk. 5 Pips slippage(!), 2 pips stop level are for the ECN-Broker as it Pepperstone claims to be, absolutely inacceptable.

All proceses like opening subaccount are MANUAL(!) and take plenty of time. Welcome in the 21-th century.

Horrible commision for deposit with the credit card.

Don't use it if you have another options

 JP Rossi from Sydney.
Sunday, December 2, 2012

Happy with Pepperstone and their trading conditions. Very tight spreads on razor and use them along with my other Australian broker Axi, having tried others I am convinced these two are the leading brokers within Australia. Pepperstone has a better client portal for me as a trader though but I always used to hate their paper withdrawal process which was a hassle. Go Aussie go!

 Chirag Brahmbhatt from India.
Monday, October 29, 2012

I Had a great experience... Way to go Pepperstone! Everything Awesome!

  Kyle from Canada.
Sunday, June 17, 2012

Simply the best broker I've seen or used.

  Sam from Mel.
Thursday, February 2, 2012

Horrible broker,you can not depositing urgent funds via credit card for margin call from 6PM to 8AM Australia Eastern Time.

  Chih from Singapore.
Sunday, November 27, 2011

Pepperstone offer me 400:1 with no restrictions on account size. I am swing trader and execution has been excellent. I am happy to trade with regulated broker and they have some of the best spreads+commissions with the Razor account. I have been making money on the Razor account. I am not sure sure about execution on standard.

  Mary. G from Australia.
Friday, November 25, 2011

Mary G, Croydon

I used to use another aussie broker until their spread widened and slippage started so I switched to a pepperstone razor account a few weeks ago and wish i'd done it months ago - the tightest spreads i've seen and great support from a regulated broker. A+++++

  Gavin from Brisbane.
Thursday, November 24, 2011

Pepperstone have treated me well ever since I moved from Vantage 4 months ago. I use a mixture of EA’s and manual scalping and have never had a problem with execution of my orders. ECN trading is bit different to a market maker so I also make sure I stay out of the market during news events like NFP as it can get choppy.

I would prefer if they didn’t charge me fees for depositing via credit card – As with large deposits this can be expensive but it is probably my fault for getting into margin call and needing urgent funds.

IMHO - I wouldn’t take too much stock in some of the negative reviews on here. It is common knowledge that Pepp have ruffled a lot of feathers in the fx industry taking a lot of clients from the other Australian brokers (Go Markets, Axistrader, VantageFx – Who happen to be sponsors of this site *cough cough*)

  Alex from Australia.
Wednesday, November 23, 2011

I opened an account under cash back forex with pepperstone about 3 months ago. all was going ok and then during the japanese yen intention i was long usdjpy and made $97k profit on that huge market movement in less than a few minutes. I sent in my withdrawal request for my profits and my money arrived in my bank account the next day. since then i've been trading normally… no more huge profits but a very happy client with a very good trustworthy broker.

as an experienced trader i can say the pepperstone is one of the best.

  Kris from Estonia.
Saturday, November 19, 2011

I strongly recoment to shut down all your live accounts with them until they fix their problems.

This week i spent 10hours every day manual trading on live account (EU open until mid US) Heres what i experienced every single day!

- couple of server freezes 10-30 seconds before major news. Freezes up to 2 minutes.

- server freezes 3-10 times per day up to 30 seconds without news incoming.

- trade execution times from instant to 45seconds!

- slippages due very long execution times up to 35 pips!

Only positive thing about this was that couple of times slippage was positive. Still majority of times it was negative, so in summary i lost money because of it.

Clearly there is a lot wrong with theyr servers and price feed. Plus im suspecting price manipulation since vs Alpari account the price differs too much sometimes.

I am now slowly closing my EA trades, i already stopped manual trading with them and i will withdraw my money as soon as i have closed all trades.

My 3 week experience with them has been by far the worst broker i have tried!

In those 3 weeks i did not experience any malfunctions on alpari account, which runs on same computer simulatiously.

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