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Pepperstone

73.7% of retail CFD accounts lose money.
Documentation

Our Ranking. #6

Our ranking is based on the total cost score, which reflects the Bid-Ask spreads. The lower the ranking, the cheaper the broker, meaning lower costs.
United States
Not available in United States

Updated: July 2025

Regulated
Negative Balance Protection
Variable Spreads
Crypto Trading
Copy Trading
Home-Grown Platform
TradingView Integration
1:200 Leverage

Ranking

Pepperstone ranks number 6 on TraderGuide’s ranking list. The ranking list is based on the cost of trading with Pepperstone, in the 16 most commonly traded instruments globally.

What you need to know about Pepperstone

Pepperstone launched in 2010 in Australia and has since grown into one of the most recognised names in online trading. With regulatory licences from ASIC (Australia), FCA (UK), CySEC (EU), DFSA (UAE), BaFin (Germany), and CMA (Kenya), the broker has a strong global footprint and meets high standards for client protection and transparency.

Pepperstone offers a broad selection of markets, including CFDs on forex, indices, commodities, shares, and crypto, with competitive trading conditions. The broker supports multiple platforms, including MT4, MT5, cTrader, TradingView, and their own proprietary Pepperstone Trading Platform—a clean, web-based interface that brings together one-click trading, watchlists, and charting tools in a modern layout.

What do we like about Pepperstone?

Pepperstone has a reputation for being technically solid and trader-focused, and from our testing, that reputation is well-earned.

First off, their platform offering is one of the best in the business. While many brokers stick to MetaTrader and call it a day, Pepperstone goes further. Traders can access cTrader and TradingView, which are great additions in their own right—but they also now offer their own proprietary web-based trading platform. The Pepperstone Trading Platform is fast, modern, and user-friendly, and works well for those who don’t want the complexity of MetaTrader but still want powerful functionality.

Their execution speed is excellent, and the broker clearly invests in infrastructure. During live trading, order fills were responsive, and we experienced no notable slippage under normal conditions.

Spreads are a major strength, particularly on forex pairs like EUR/USD and GBP/USD, which tend to stay tight even during higher market activity. While we report the widest variable spread, Pepperstone consistently delivered lower spread averages than many other brokers, especially on the major indices like SP500 and DAX. That pricing edge really adds up if you’re an active trader.

What concerns us about Pepperstone?

There’s not a lot to fault here, but there are a few things to keep in mind.

Some traders may still prefer platforms with more built-in tools or analytics, and while the proprietary platform is solid, it’s not as feature-rich as something like TradingView or MT5. That said, Pepperstone gives you access to all of these anyway.

Another thing is the lack of fixed spreads. Pepperstone operates with variable pricing across the board, so during volatile events, spreads can spike—as is the case with most brokers. That’s not necessarily a knock against them, but it’s something to factor in if you're trading during major news events or off-market hours.

Lastly, Pepperstone is a trading-focused broker. That’s great if you know what you’re doing, but it might feel a bit lean on educational content or hand-holding compared to more beginner-oriented platforms.

Should you trade with Pepperstone?

We’ve tested dozens of brokers at TraderGuide, and Pepperstone ranks as one of the most consistent performers.

They combine competitive spreads, deep platform flexibility, and solid regulation—all without the usual gimmicks or distractions. If you're focused on cost-effective execution and want the freedom to choose your platform, they offer a clean and professional environment to trade in.

While they don’t offer fixed spreads, their raw trading infrastructure and pricing still place them near the top of our rankings.

In short, Pepperstone gets the trading basics right—and sometimes, that’s exactly what you need.

 

Best 4 Brokers

Across United States

Indices
Forex
Commods

TD365

Tickmill

Moneta Markets

InstaForex

Bid – Ask Spreads

Total Score = 24.20
The total cost score is calculated by adding the Bid-Ask spreads of these 16 instruments. A lower score means lower costs, representing a cheaper broker.
Indices

FTSE : 1.00

DAX : 0.90

CAC : 1.40

NASDAQ : 1.30

DOW JONES : 2.60

SP500 : 0.40

Total: 7.60
Forex

EUR/USD : 0.60

GBP/USD : 0.90

USD/JPY : 1.10

EUR/JPY : 2.40

USD/CHF : 1.40

AUD/USD : 0.70

USD/CAD : 1.30

Total: 8.40
Commods

US CRUDE : 3.00

GOLD : 3.00

SILVER : 2.20

Total: 8.20

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