Pepperstone Review 2026
Best-in-class raw spread and platform choice.
One of the best raw-spread brokers available. No minimum deposit, FCA regulated, and multiple platforms including cTrader. Top pick for active traders.
What's on the menu
Pepperstone has been serving since 2010, with the kitchen based in Melbourne, Australia. The firm is privately held. The order book runs deep: 1,200 CFD instruments spanning forex, indices, commodities and crypto. Everything here is a contract for difference, so you are trading the price move, not owning the underlying dish.
MetaTrader comes plated on every account type. A copy-trading table lets you mirror another trader's orders automatically, no recipe of your own required.
| Founded | 2010 |
| Headquarters | Melbourne, Australia |
| Instruments | 1,200+ |
| Platforms | MT4, MT5, cTrader, TradingView |
| MetaTrader | Yes, MT4 and MT5 |
| Copy trading | Yes |
| Real stocks | No, CFDs only |
Kitchen inspection: is Pepperstone safe?
FCA-regulated brokers must keep client funds in accounts segregated from company funds, provide negative balance protection, and contribute to the Financial Services Compensation Scheme (FSCS), which covers up to £85,000 per client if the broker becomes insolvent.
| Regulator | Licence | Entity |
|---|---|---|
| FCA | 684312 ✓ | Pepperstone Ltd |
| ASIC | 414530 ✓ | Pepperstone Group Ltd |
| CySEC | 388/20 ✓ | Pepperstone EU Ltd |
| DFSA | F004356 ✓ | Pepperstone MENA Ltd |
| SCB | SIA-F217 ✓ | Pepperstone Markets Ltd |
| BaFin | 151148 ✓ | Pepperstone GmbH |
| CMA | 128 ✓ | Pepperstone Markets Kenya |
Want to inspect the kitchen yourself? Pull up register.fca.org.uk and look up the FCA licence. The listing lays out the entity name, its authorisation status and the full list of what it is cleared to do. A minute, tops.
Ready to open an account?
Pepperstone - FCA regulated, min deposit None, 1,200+ instruments.
Ingredient costs: Pepperstone spreads
Here is what the raw ingredients cost on a standard Pepperstone account. Spreads breathe with the market and with your account tier; step up to an ECN or raw-spread table and the spread shrinks, but a per-trade commission joins the bill.
| EUR/USD | 1.0 (std) / 0.09 (razor) pips |
| GBP/USD | 1.2 / 0.08 pips |
| USD/JPY | 0.9 / 0.1 pips |
| Gold (XAU/USD) | 12c/oz |
| S&P 500 | 0.4pt |
That EUR/USD figure of 1.0 (std) / 0.09 (razor) pips is a fair price to pay on a commission-free account.
The bill: Pepperstone withdrawal fee and timing
Cost to take money out: None. Pepperstone does not charge deposit or withdrawal fees.
How long it takes: 1 to 3 business days. Card withdrawals are typically processed within 24 hours. Bank transfers take 2 to 3 days.
No cash leaves the till until your identity checks out. If your proof of ID and address are not yet filed and cleared, the payout waits; once you are fully verified, cash-outs follow the timings shown above.
The cover charge by entity
The opening deposit at Pepperstone depends on which entity seats your country. Offshore branches tend to set a smaller cover charge, but you dine with a thinner layer of regulatory protection.
| Entity | Regulator | Min deposit | Max leverage (forex) |
|---|---|---|---|
| Pepperstone Ltd | FCA 684312 | None | 1:30 |
| Pepperstone Group Ltd | ASIC 414530 | None | 1:30 |
| Pepperstone EU Ltd | CySEC 388/20 | None | 1:30 |
| Pepperstone MENA Ltd | DFSA F004356 | None | 1:500 |
| Pepperstone Markets Ltd | SCB SIA-F217 | None | 1:500 |
| Pepperstone GmbH | BaFin 151148 | None | 1:30 |
| Pepperstone Markets Kenya | CMA 128 | None | 1:400 |
Pepperstone vs IC Markets
| Pepperstone | IC Markets | |
|---|---|---|
| Primary regulator | FCA 684312 | ASIC 335692 |
| Min deposit | None | $200 |
| EUR/USD spread | 1.0 (std) / 0.09 (razor) pips | 0.8 (std) / 0.02 (raw) pips |
| MetaTrader | Yes | Yes |
| Instruments | 1,200+ | 2,250+ |
| Copy trading | Yes | No |
| Withdrawal fee | None | None |
Both kitchens hold real licences, so neither is a bad table. Pull up a chair at Pepperstone if you value copy trading and following other traders. IC Markets plates up better for anyone who leans on its particular regulated-entity coverage.
The licences, line by line
| FCA | 684312, Pepperstone Ltd |
| ASIC | 414530, Pepperstone Group Ltd |
| CySEC | 388/20, Pepperstone EU Ltd |
| DFSA | F004356, Pepperstone MENA Ltd |
| SCB | SIA-F217, Pepperstone Markets Ltd |
| BaFin | 151148, Pepperstone GmbH |
| CMA | 128, Pepperstone Markets Kenya |
Under ESMA house rules, retail traders in the EU and UK are served leverage no higher than 1:30 on the major forex pairs. The offshore entity will pour up to 1:500, but that comes with a lighter seal of protection.
What tastes good, what leaves a bad aftertaste
Cooked well
- FCA, ASIC, CySEC regulated
- ECN spreads from 0.0 pips
- No minimum deposit
- MT4, MT5, cTrader, TradingView
- Copy trading via third parties
- No inactivity fee
Sent back
- No real stocks
- Education limited compared to eToro
- No proprietary tools beyond platforms
Compare Pepperstone before you commit
4.5/5 rating - FCA regulated - min deposit None
The verdict
Nothing on the plate here is fake: Pepperstone is a genuine, regulated broker, and FCA licence 684312 checks out on the public register. The table is set best for social traders who like to follow the chef. We rate it 4.5 out of 5.
Other tables worth a look
If Pepperstone is not quite to your taste, these regulated kitchens are worth comparing:
Frequently asked questions
Is Pepperstone safe?
FCA-regulated brokers must keep client funds in accounts segregated from company funds, provide negative balance protection, and contribute to the Financial Services Compensation Scheme (FSCS), which covers up to £85,000 per client if the broker becomes insolvent. The kitchen holds FCA licence 684312, and you can confirm it for yourself on the official register.
What is the Pepperstone minimum deposit?
The cover charge is None at the main regulated entity. Offshore branches may plate it differently, so check the entity table above for the full spread.
What is the Pepperstone EUR/USD spread?
On a standard Pepperstone account the EUR/USD ingredient runs about 1.0 (std) / 0.09 (razor) pips. It moves with the market; an ECN or raw table trims the spread in exchange for a per-trade commission.
How long does Pepperstone take to process withdrawals?
1 to 3 business days. Card withdrawals are typically processed within 24 hours. Bank transfers take 2 to 3 days.
Does Pepperstone charge withdrawal fees?
None. Pepperstone does not charge deposit or withdrawal fees.
Does Pepperstone have MetaTrader?
Yes. Both MT4 and MT5 are on the menu across every account type, so automated strategies, custom indicators and expert advisors are all on the table.