Razor-Thin Spreads for Active Forex Traders
Pepperstone was founded in 2010 in Melbourne, Australia, and has grown into one of the world's largest CFD and forex brokers by volume. Regulated by ASIC, FCA, CySEC, and DFSA, Pepperstone is known for its Razor account — offering raw interbank spreads from 0.0 pip on EUR/USD with a small commission, making it ideal for scalpers and high-frequency traders. It supports MT4, MT5, cTrader, and TradingView across 90+ forex pairs and 1,000+ share CFDs.
| 🏛️ Founded | 2010 |
| 📍 Headquarters | Melbourne, Australia |
| 📈 Listed on | Private |
| 📜 Regulators | ASIC (Australia), FCA (UK), CySEC (Cyprus), DFSA (Dubai), SCB (Bahamas), CMA (Kenya), BaFin (Germany) |
| 💵 Min. Deposit | $0 (no minimum) |
| 💰 Stock/ETF Commission | N/A |
| 💱 FX / Spread | Razor account: from 0.0 pip + $3.50/lot per side; Standard: from 1.0 pip |
| 😴 Inactivity Fee | None |
| 🏧 Withdrawal Fee | Free |
| 🖥️ Platforms | MT4, MT5, cTrader, TradingView, Pepperstone's own platform |
| 🎮 Demo Account | Yes (30 days, renewable) |
| 🛡️ Investor Protection | ASIC: no government compensation scheme. FCA (UK): £85,000 FSCS. |
| 👥 Clients | 400,000+ |
Pepperstone supports the most popular trading platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and TradingView integration. MT4/MT5 support Expert Advisors (EAs) for algorithmic trading. cTrader offers Level II pricing and advanced order management. TradingView integration allows trading directly from charts. A free demo account is available (30 days, renewable on request). Pepperstone also has its own mobile app.
Pepperstone offers 90+ forex pairs, 25+ stock index CFDs, commodity CFDs (gold, silver, oil), 1,000+ share CFDs (US, UK, EU stocks), ETF CFDs, and 10+ crypto CFDs. No real stocks, ETFs, or spot crypto. Share CFDs allow exposure to individual stocks with leverage but do not confer shareholder rights. The Razor account provides raw spreads with commission; the Standard account is spread-only.
Razor account: raw spreads from 0.0 pip + $3.50/lot per side ($7 round trip) for EUR/USD. Standard account: from 1.0 pip, no commission. No inactivity fee (competitive advantage). Free withdrawals. Overnight swap rates apply to leveraged positions. Currency conversion: varies. No minimum deposit across all account types.
| Stocks & ETFs | N/A |
| Forex / Spread | Razor account: from 0.0 pip + $3.50/lot per side; Standard: from 1.0 pip |
| Inactivity fee | None |
| Withdrawal fee | Free |
| Min. deposit | $0 (no minimum) |
Pepperstone is regulated by ASIC (Australia), FCA (UK), CySEC (Cyprus/ESMA passport), DFSA (Dubai), and BaFin (Germany). UK clients benefit from £85,000 FSCS protection. Client funds segregated at major Australian and UK banks. Negative balance protection applies to EU/UK retail clients. Pepperstone undergoes regular independent audits. No history of regulatory sanctions.
| Regulators | ASIC (Australia), FCA (UK), CySEC (Cyprus), DFSA (Dubai), SCB (Bahamas), CMA (Kenya), BaFin (Germany) |
| Investor Protection | ASIC: no government compensation scheme. FCA (UK): £85,000 FSCS. |
| Publicly Listed | Private |
Available in most countries globally. Not available in the USA.
Pepperstone is the top choice for active forex and CFD traders who need the tightest possible spreads and maximum platform flexibility. The Razor account's raw 0.0 pip spreads with low commission makes it cost-competitive with institutional brokers. The lack of real assets (no stocks, no spot crypto) and no US availability are the main drawbacks for general investors.
* 74-89% of retail investor accounts lose money when trading CFDs with this provider.