Pepperstone review 2026

In the Razor account, the spread in the EUR/USD pair starts at 0.1 pips, putting it at the top of the market. In return, a commission is charged: US$3.50 per side and standard lot, so around US$7 per round turn, or €2.60 per side on euro accounts. In the Standard account the commission does not apply, but the spread is noticeably wider. Pepperstone calculates financing of overnight positions on the basis of the TomNext rate plus a mark-up of up to 3 percent. The formula is in the costs and charges document, while the specific rates per instrument are held in the contract specifications of the trading platform and can therefore only be viewed in full after logging in. Scoring (22/30): The spread from 0.1 pips in the Razor account reaches the top level and earns the full 12 points. The commission of around US$7 per round turn is above the US$6 threshold and gives 5 out of 8 points. Because the swap rates are calculated by a documented formula but only shown concretely in the platform, and the mark-up is up to 3 percent, we award 5 out of 10 points.

German customers are served by Pepperstone GmbH, which has its own BaFin permit (BaFin ID 10151148). The broker is therefore subject to German supervisory law. It should be noted that BaFin has repeatedly warned about fake domains that misuse the Pepperstone name – customers should check the address carefully. Client money is held separately from company assets, and in addition the Entschädigungseinrichtung der Wertpapierhandelsunternehmen applies at 90 percent up to a maximum of €20,000. Negative balance protection for retail clients and the ESMA leverage limits are implemented. Pepperstone states the legally required loss rate, 74.8 percent of retail investor accounts losing money, prominently. Scoring (28/32): The BaFin permit brings 10 points, segregated client money with the compensation scheme 8 points, and negative balance protection and ESMA-compliant leverage 6 points. For the loss-rate criterion we assess the level: 74.8 percent falls just within the up-to-75-percent band and gives 4 out of 8 points.

Pepperstone offers over 1,350 CFD instruments. That is enough for the vast majority of strategies, but well below what full-range providers such as IG offer. Currencies, indices, commodities and shares are covered, supplemented by cryptocurrency CFDs. Genuine securities are not on offer: anyone who actually wants to put shares or ETFs in a depot needs a second provider for that. Pepperstone is thus a pure specialist in leveraged products – the broker is not intended for long-term wealth building. Scoring (8/14): Over 1,350 underlying assets fall in the 1,000-and-above level and give 3 out of 5 points. All four asset classes bring the full 5 points. Because only contracts for difference are traded, the genuine securities criterion gets 0 out of 4 points.

The choice of platforms is a clear strength: MetaTrader 4, MetaTrader 5, cTrader and TradingView are available, as are Pepperstone's own platform and apps for iOS and Android. Anyone running automated strategies via Expert Advisors will find a familiar environment. On execution, Pepperstone names its model and advertises an average execution speed of around 30 milliseconds. We could not find continuously published execution statistics, however, of the kind some competitors provide. The charting benefits from cTrader and TradingView and offers extensive indicators, drawing tools and price alerts. Scoring (13/16): MetaTrader 4 and 5 plus its own platform and app earn the full 6 points. Because the execution model is named but no execution statistics are published, we award 3 out of 6 points. The extensive analysis tools bring the full 4 points.

German-language support is available around the clock on five trading days, by phone on +49 211 81999940 and by email and chat. For active traders who also trade outside German office hours, 24/5 availability is a noticeable advantage over providers with fixed service hours. The demo account is weaker: it expires after 30 days. Anyone who wants to test a strategy over several months must therefore create a new account. The German-language academy offers structured learning content and regular webinars, including on trading strategies and risk management. Scoring (7/8): A German-language hotline and email support bring the full 4 points. The demo account limited to 30 days gives 1 out of 2 points, and the structured German-language training offer with webinars the full 2 points.