Pepperstone
Built for people who trade forex a lot: ECN-style fills on MT4, MT5, cTrader or TradingView.
Fact sheet
What kind of broker is it?
Scalpers and EA traders favour Pepperstone for two reasons, low latency and minimal dealer intervention. Its Razor accounts provide raw spreads with ECN-style execution, and pricing is tight. You can trade on MT4, MT5 or cTrader, and TradingView is integrated natively. The company is headquartered in Australia and regulated at tier-1 level by ASIC, the FCA, CySEC, DFSA and BaFin. Forex and CFDs are its whole business.
Where the points come from
These points measure fit, not rank. When a broker gets 5.0 for something, we judged it by the demands of its own category and did not compare it with every other broker.
The good and the not so good
In its favour
- Regulated at tier-1 level in several countries
- Razor: raw spreads starting at 0.0, commission added
- MT4, MT5, cTrader and TradingView, all available
- Colocation at Equinix NY4/LD5 keeps execution quick
- Nothing to pay on deposits or withdrawals
- MT4/MT5 gain from the Smart Trader Tools add-ons
Against it
- IG and Saxo list more share CFDs
- Razor costs $3.50/side per $100k in commission; include it
- Declared minimum is $0, but a higher opening sum is advised
- Go 12 months without trading and a fee applies
Is it right for you?
For active forex and CFD traders whose priorities are raw spreads, quality of execution and an MT4/MT5/cTrader setup that welcomes EAs. Investors who buy shares to hold them should look at other brokers.
Trading CFDs means trading with leverage, and losing money is a real and high risk. Check that this broker may legally serve residents of your country before you deposit. Its full risk warning is on its official website.