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TickmillPepperstone Review
Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Blain Reinkensmeyer
Steven HatzakisSteven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. He is a forex industry expert and an active fintech and crypto researcher.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Pepperstone is a great choice for low-cost forex and CFD trading, offering specialty platforms that support copy trading and algorithmic strategies. In addition to offering a growing range of tradeable markets, Pepperstone provides high-quality research and analysis, consistently above industry standards.
With over 7 years of firsthand experience reviewing Pepperstone, I have seen it grow into a true multi-asset broker, providing access to best-in-class tools like TradingView, cTrader, MetaTrader, and most recently, its newly-launched proprietary platform.
-
Minimum Deposit:
$0 -
Trust Score:
95 -
Tradeable Symbols (Total):
1726
| Range of Investments | |
| Commissions & Fees | |
| Platforms & Tools | |
| Research | |
| Mobile Trading | |
| Education |
Check out ForexBrokers.com's picks for the best forex brokers in 2025.
| 2025 | #16 |
| 2024 | #17 |
| 2023 | #16 |
| 2022 | #19 |
| 2021 | #16 |
| 2020 | #14 |
| 2019 | #17 |
| 2018 | #17 |
| 2017 | #16 |
Can I open an account with this broker?
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Table of Contents
Pros & cons
Pros
- Won Best in Class for MT5, algo trading, and more.
- Offers MetaTrader and cTrader for algo and copy trading.
- Razor account pricing is competitive for active traders.
- New mobile app has solid features and strong usability.
Cons
- Education lacks depth, with no quizzes or course tracking.
- MT5 offering has fewer symbols than top multi-asset brokers.
My top takeaways for Pepperstone in 2025:
- Research at Pepperstone is better than the industry average and continues to improve, though it still trails leaders such as IG or Saxo.
- MetaTrader users will find multiple platform add-ons that enhance the overall MetaTrader experience.
- With a low minimum deposit requirement and a slew of popular third-party platforms available, Pepperstone is a great option for forex and CFD traders at all experience levels.
Trust Score
Developed by ForexBrokers.com and in use for nearly 10 years, Trust Score is a proprietary rating system powered by a range of unique quantitative and qualitative metrics, including each company’s number of regulatory licenses. Trust Scores range from 1 to 99 (the higher a broker’s rating, the better). Learn more.
Is Pepperstone safe?
Pepperstone is considered Highly Trusted, with an overall Trust Score of 95 out of 99. Pepperstone is not publicly traded, does not operate a bank, and is authorised by three Tier-1 regulators (Highly Trusted), two Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and two Tier-4 regulators (High Risk). Pepperstone is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system. Learn more about Trust Score or see where the different Pepperstone entities are regulated.
| Feature |
 Pepperstone
|
|---|---|
| Year Founded | 2010 |
| Publicly Traded (Listed) | No |
| Bank | No |
| Tier-1 Licenses | 3 |
| Tier-2 Licenses | 2 |
| Tier-3 Licenses | 0 |
| Tier-4 Licenses | 2 |
Range of investments
There are 1,385 symbols shown in Pepperstone’s MetaTrader 5 available for trading – including forex and CFDs.
Cryptocurrency: Cryptocurrency trading is available at Pepperstone through CFDs, but not available through trading the underlying asset (e.g. buying Bitcoin), although crypto deposits are supported in BTC, ETH, USDC and Solana . Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except for professional clients).
The following table summarizes the different investment products available to Pepperstone clients.
| Feature |
Pepperstone
|
|---|---|
| Forex Trading (Spot or CFDs) | Yes |
| Tradeable Symbols (Total) | 1726 |
| Forex Pairs (Total) | 65 |
| U.S. Stock Trading (Non CFD) | No |
| Int'l Stock Trading (Non CFD) | No |
| Social Trading / Copy Trading | Yes |
| Cryptocurrency (Physical) | No |
| Cryptocurrency (Derivative) | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Pepperstone fees
Pepperstone is an agency-execution broker that offers excellent pricing on its Razor account when combined with its Active Trader program for high-volume traders. Meanwhile, its Standard account is not as impressive, and features comparably higher spreads.
Razor account: The Razor account can be used with the TradingView, MetaTrader (MT4 or MT5), or cTrader platforms, and follows a commission-based pricing structure (in addition to prevailing spreads). Pepperstone listed an average spread of 0.10 pips for the EUR/USD on its Razor account (as of July 2024). When including the commission-equivalent of 0.70 pips, the all-in cost increases to 0.80 pips – which is close to the industry average.
Standard account: Pepperstone’s Standard account is commission-free, and has listed an average spread of 1.1 pips on the EUR/USD (as of July 2024). When considering the Razor’s all-in cost of 0.80 pips (including commission), the Standard account is the more expensive option.
Active traders: Pepperstone's Active Trader program will rebate a portion of the spread, depending on your monthly trading volume and the applicable tier.
United Kingdom and EU: Professional clients that trade at least £20 million per month of forex can be eligible for a rebate on the spreads paid of 15% per lot (rates vary for commodities and indices). The rebate continues to improve up to 25% for those who trade more than £200 million per month.
Australia: For Professional clients, a minimum of 100 lots is required (over a three month period) to qualify for the lowest tier in Pepperstone's Active Trader program. Tier One provides a discount of 10% per standard lot, which reduces the effective spread. Tier Three – available to those who trade more than 3001 lots monthly – provides a 30% spread reduction.
| Feature |
Pepperstone
|
|---|---|
| Minimum Deposit | $0 |
| Average Spread EUR/USD - Standard | 1.00 |
| All-in Cost EUR/USD - Active | 0.70 |
| Active Trader or VIP Discounts | Yes |
| ACH or SEPA Transfers | Yes |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
| Bank Wire (Deposit/Withdraw) | Yes |
Mobile trading apps
Pepperstone offers a strong lineup of mobile trading apps, giving traders access to four distinct platforms: its newly developed proprietary app, alongside the industry staples MetaTrader, cTrader, and TradingView. Overall, Pepperstone’s mobile app offering is above industry average, even if it doesn’t yet rival the best-in-class experiences from top-tier competitors.
Steven's take
"While Pepperstone's in-house app is still maturing, it delivers a clean interface and solid functionality. For advanced features and charting tools, the third-party platforms provided by Pepperstone remain the stronger option, for now."
Apps overview: Traders have access to the TradingView app, along with the MetaTrader suite of mobile apps (MT4 and MT5), as well as the cTrader mobile app – all of which are available directly from their respective developers on Google Play (for Android) and Apple App Store (for iOS). Last but not least, the Pepperstone app is also available on Google Play and the Apple App Store.
Pepperstone cTrader mobile watchlist popular markets with buy and sell buttons and quickview charts.
Pepperstone Trading App: Pepperstone recently launched its Pepperstone mobile app. This newer app includes standout features such as the ability to close all positions with one click. Other notable features include the ability to trade from the chart on Pepperstone Mobile and to drag-and-drop stop and limit orders – a functionality that is becoming increasingly common across the industry and something active traders and day traders can appreciate when needing to quickly manage positions in realtime. That said, while this is a huge step in the right direction, Pepperstone still has a long way to go to compete with the best brokers in this category.
Ease of use: With TradingView, MetaTrader and cTrader available alongside its own proprietary app, Pepperstone offers plenty of options when it comes not only to functionality but also the ease of use factor, thanks to the modern design of these applications. While its new mobile app has less features than the other options available, one benefit it conveys is ease of use. Traders needing more can simply switch to the more advanced mobile apps available at Pepperstone.
| Feature |
Pepperstone
|
|---|---|
| Android App | Yes |
| Apple iOS App | Yes |
| Mobile Alerts - Basic Fields | Yes |
| Watchlist Syncing | Yes |
| Mobile Charting - Draw Trendlines | Yes |
| Mobile Charting - Multiple Time Frames | Yes |
| Mobile Economic Calendar | Yes |
| Mobile Charting - Indicators / Studies | 30 |
Trading platforms
Though Pepperstone lacks a proprietary platform, it offers nearly every third-party platform available on the market. Overall, I was impressed and Pepperstone earned Best in Class honors for MetaTrader in our 2025 Annual Awards.
Platforms overview: Pepperstone offers the full MetaTrader suite (MT4 and MT5) developed by MetaQuotes Software Corporation, as well as the cTrader platform developed by Spotware Systems – both available for desktop and web, along with the popular TradingView platform. Pepperstone also recently launched its own proprietary platform, further expanding its range of platforms. cAlgo is available for algorithmic trading, and traders can use both of Pepperstone’s account types (Standard or Razor) with any platform.
Pepperstone TradingView platform web layout dark mode showing charts watchlist and open positions.
Pepperstone also finished Best in Class for Algo Trading in our 2025 Annual Awards. If you’d like to learn more about the best algo trading software or the best trading platforms for high-frequency traders, check out our high-frequency trading guide.
Charting: Charts are robust on both cTrader and MetaTrader. Both platforms support algorithmic trading, each with their own strengths and weaknesses. cTrader’s web-based platform has an advantage with its broader range of trading tools, though it requires the standalone cAlgo platform to run in parallel, whereas MetaTrader's desktop version contains the algorithmic trading module.
Trading tools: Pepperstone offers a suite of Smart Trader Tools plugins available as an add-on for MetaTrader accounts, alongside access to Autochartist and API trading. For social copy trading, Pepperstone offers multiple platforms, including Copy Trading by Pepperstone (powered by Pelican), Signal Start for MetaTrader, and DupliTrade for cTrader (though the latter requires a $5,000 minimum balance, and DupliTrade is not available within the EU). Pepperstone finished Best in Class in the Copy Trading category for the eighth consecutive year in 2025.
| Feature |
Pepperstone
|
|---|---|
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| Social Trading / Copy Trading | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
| DupliTrade | Yes |
| ZuluTrade | No |
| Charting - Indicators / Studies (Total) | 15 |
| Charting - Drawing Tools (Total) | 30 |
| Charting - Trade From Chart | Yes |
| Watchlists - Total Fields | 7 |
Research
Pepperstone delivers a good balance of research content in both video and written format. The quality of Pepperstone’s research offering is a touch above the industry average, yet it’s not quite as robust as what’s offered by category leaders like IG and Saxo.
Research overview: Pepperstone offers traders a combination of in-house content and access to third-party tools from providers like Autochartist (for pattern recognition and trading signals) and Delkos (for risk management). Pepperstone also provides access to a suite of MetaTrader add-ons called Smart Trader Tools which includes useful features like sentiment indicators.
Pepperstone website research The Daily Fix analysis articles with insights from Chris Weston.
Market news and analysis: Pepperstone's in-house research consists of multiple daily articles and videos which cover technical and fundamental analysis. Content is synced across Pepperstone’s website and YouTube channel, and streaming news headlines can be found in the cTrader platform. I found Pepperstone's "the trade off" series to be of good quality with weekly videos with market analysis from its teams in the UK and Australia, and with dedicated playlists on its YouTube channel.
| Feature |
Pepperstone
|
|---|---|
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Autochartist | Yes |
| Trading Central (Recognia) | No |
| Social Sentiment - Currency Pairs | Yes |
Education
While Pepperstone has a respectable array of archived webinars and videos, it is light on written content compared to education leaders such as FXCM or CMC Markets.
Learning center: Pepperstone has a "trading guides" category that features over 40 articles – organized by experience level. Pepperstone offers roughly a dozen platform tutorials, and conducts a handful of webinars each month that are then added to its catalog of archived webinars on its YouTube channel. In addition to its weekly webinars, Pepperstone recently launched a 150 minute online seminar called Pepperstone Talks, featuring industry experts such as John Bollinger, among other prominent industry persons. The webinars are archived which allows you to review them again if you missed the live event.
Pepperstone website educational learning center overview with trading guides and articles.
Room for improvement: Though I found Pepperstone’s educational content to be high-quality, the overall offering was in line with the industry average for this category. Adding interactive courses with progress tracking and quizzes, and organizing articles by experience level would be welcome enhancements.
| Feature |
Pepperstone
|
|---|---|
| Education (Forex or CFDs) | Yes |
| Client Webinars | Yes |
| Client Webinars (Archived) | Yes |
| Videos - Beginner Trading Videos | Yes |
| Videos - Advanced Trading Videos | Yes |
| Investor Dictionary (Glossary) | Yes |
Final thoughts
Pepperstone has continued to increase its range of markets for forex and CFD traders (including spread-betting available in the U.K. and Ireland). It offers a rich platform experience for MetaTrader, cTrader, and TradingView – and its launch of a proprietary web and mobile app has helped inch Pepperstone closer to competing with the best forex brokers.
Considering the low minimum deposit requirements, and its robust research and range of support for third-party platforms, Pepperstone is a great option for forex and CFDs traders – regardless of experience level. In 2025, Pepperstone finished best in class for Copy Trading, Algo Trading, TradingView, and MetaTrader.
Pepperstone Star Ratings
| Feature |
Pepperstone
|
|---|---|
| Overall Rating |
|
| Trust Score | 95 |
| Range of Investments |
|
| Commissions & Fees |
|
| Platforms & Tools |
|
| Research |
|
| Mobile Trading |
|
| Education |
|
ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Here's how we test.
Our testing
Why you should trust us
Steven Hatzakis is a well-known finance writer, with 25+ years of experience in the foreign exchange and financial markets. He is the Global Director of Online Broker Research for Reink Media Group, leading research efforts for ForexBrokers.com since 2016. Steven is an expert writer and researcher who has published over 1,000 articles covering the foreign exchange markets and cryptocurrency industries. He has served as a registered commodity futures representative for domestic and internationally-regulated brokerages. Steven holds a Series III license in the US as a Commodity Trading Advisor (CTA).
All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry.
Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. Click here to learn more about how we test.
How we tested
At ForexBrokers.com, our online broker reviews are based on our collected quantitative data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
Mobile testing is conducted on modern devices that run the most up-to-date operating systems available:
- For Apple, we use MacBook Pro laptops running macOS 15.3, and the iPhone XS running iOS 18.3.
- For Android, we use the Samsung Galaxy S20 and Samsung Galaxy S23 Ultra devices running Android OS 15.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser.
Our researchers thoroughly test a wide range of key features, such as the availability and quality of watch lists, mobile charting, real-time and streaming quotes, and educational resources – among other important variables. We also evaluate the overall design of the mobile experience, and look for a fluid user experience moving between mobile and desktop platforms.
ForexBrokers.com 2025 Annual Awards
For the ForexBrokers.com 2025 Annual Awards, brokers were evaluated against ForexBrokers.com’s 8 Primary Categories: Commissions & Fees, Range of Investments, Platforms & Tools, Mobile Trading Apps, Research, Education, Trust Score, and Overall.
Best in Class honors were awarded to the Top 7 forex brokers in each of the following areas: Beginners, Copy Trading, Ease of Use, MetaTrader, TradingView, Algo Trading, Crypto Trading, and Professional Trading.
Category awards
| Rank #1 | Streak #1 | Best in Class | Best in Class Streak | |
| Copy Trading | 8 | |||
| MetaTrader | 8 | |||
| Algo Trading | 4 | |||
| TradingView | 1 |
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.
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About Pepperstone
Founded in 2010 in Melbourne, Pepperstone is regulated in Australia, the U.K., Cyprus, Germany, Kenya the UAE, and the Bahamas – locations that are also home to Pepperstone offices. Pepperstone processes, on average, $12.55 billion of trades daily for more than 400,000 retail trading accounts across 176 countries, and employs over 400 staff globally.
About the Editorial Team
Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
John Bringans is the Managing Editor at ForexBrokers.com. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.
Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.