Pepperstone – Account Types

Pepperstone – Account Types

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Pepperstone - Account Types

 

Overall Rating

4.9/5

Rated #10 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

ASIC, FCA, CySEC, BaFin, DFSA, SCB, CMA

📱 Trading Desk

MetaTrader 4, MetaTrader 5 and cTrader

Crypto

Yes

📈 Total Pairs

1000+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Our Pepperstone Account Types Revealed:

 

Pepperstone Overview

Established in 2010 in Melbourne, Australia, Pepperstone is one of the largest and most reputable online trading brokers in the world. Pepperstone is multi-regulated by reputable licensing entities including ASIC, FCA, DFSA, SCB, CySEC, BaFin, and CMA.

 

Pepperstone offers traders access to global financial markets by providing more than 1,000 CFD instruments that can be traded across Forex, indices, commodities, cryptocurrencies, shares, ETFs, and currency indices.

 

These instruments can be traded using the flexible account types that Pepperstone offers through powerful trading platforms including:

  • cTrader
  • MetaTrader 4
  • MetaTrader 5

 

In addition to offering comprehensive trading solutions to more than 300,000 registered traders from around the world, Pepperstone also offers spread betting services to traders based in the United Kingdom.

 

Pepperstone Account Types

Pepperstone provides traders with a choice between two dynamic retail account types namely a Standard and a Razor Account in addition to offering a Professional Account for more advanced traders who have extensive experience in trading. Each of these two accounts was designed to cater for the trading needs and objectives of different traders.

 

Another benefit that Pepperstone offers is that traders can register for a demo account that is available for 30 days, with live account holders given the option of an unlimited demo account that can be used to practice trading and test strategies in a risk-free environment.

 

Another component that Pepperstone offers its clients is the option of converting their live trading account to an Islamic Account, ensuring that Muslim traders are given access to global markets without encountering interest.

 

While both the Razor and the Standard Account have unique features, traders will find that the following components are included in each account type:

  • Micro-lot trading from 0.01 lots
  • A maximum of 100 lots can be traded within a single position
  • Access to leverage up to 1:30 for retail traders
  • A choice between AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, and HKD as the account base currency
  • Traders can use a variety of trading strategies including scalping, hedging, and Expert Advisors (EAs)
  • Access to News trading
  • No-dealing Desk (NDD) trade execution on all trades
  • A minimum deposit of AU$200 to start trading

 

Pepperstone Account Features

Standard Account

The Standard account is the entry-level account that caters for most traders according to their trading needs and objectives. The unique features on this account are as follows:

  • Access to institutional-grade spreads from 0.6 pips EUR/USD
  • Commission-free trading

 

Razor Account

The Razor account offers some of the best spreads in the industry and this account is specifically designed for scalpers as well as algorithmic traders. The features that make this account unique include:

  • Institutional-grade spreads from an average of 0.0 pips and 0.3 pips depending on the financial instrument and the market conditions on the trading day
  • Commissions from AU$7, or currency equivalent in other base account currencies, charged per round turn for every $100k traded

 

Professional Account

Professional traders are given additional benefits and features on their accounts. The benefits of the Pepperstone Professional Account are as follows:

  • Access to leverage of up to 1:500 for forex majors
  • A refer a friend bonus where traders can earn up to AU$5,000 through the Pepperstone referral program
  • Margin close-out levels at 20% on MetaTrader 4 and MetaTrader 5, and up to 50% on cTrader
  • Professional traders are paired with a dedicated Relationship Manager to tend to all their unique needs

 

To be considered a professional trader and become eligible for the Pro Account, traders must fulfil the following criteria:

  • The Sophisticated Investor Test where traders must demonstrate their knowledge by completing a short online quiz. In addition, traders must either have traded leveraged products twenty times per quarter within the last 4 quarters of the past two years, with a notational value of AU$50,000 or more, or traders must have the relevant experience in a financial sector. Traders must have held a professional position for at least a year to fulfil this criterion.
  • The Wealth Test requires that traders have minimum net assets to the value of AU$ 2.5 million or traders must have a gross income of AU$250,000 for each quarter in the past two years.

 

When traders become eligible for a Professional Account, they lose the following protections:

  • Leverage restrictions
  • Compulsory margin close-outs
  • Negative balance protection
  • Retail disclosure information

 

Pepperstone Demo Account

Pepperstone offers traders the option of registering a demo account on the MetaTrader 4 and MetaTrader 5 trading platforms. Traders can use the demo account for several purposes, including as a practice account where beginners can increase their trading experience and knowledge, or as a risk-free platform where they can test their strategies before applying them in a live market.

 

Pepperstone Islamic Account

The purpose of an Islamic Account is that it caters specifically for Muslim traders who follow Sharia law. The law prevents its followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitive.

 

The unique features that Pepperstone offers on the swap-free option are as follows:

  • A minimum deposit of AU$200 or equivalent in EUR, GBP, or USD as the official account base currencies
  • Average spreads between 1 to 1.2 pips EUR/USD
  • Commission-free trading
  • The ability to use scalping, hedging, and EAs

 

Pepperstone offers the swap-free Islamic option to the following countries:

  • Albania
  • Azerbaijan
  • Bangladesh
  • Burkina Faso
  • Bahrain
  • Brunei
  • Brunei Darussalam
  • Algeria
  • Egypt
  • Guinea
  • Indonesia
  • Jordan
  • Kyrgyzstan
  • Kuwait
  • Morocco
  • Mauritania, and several other Islamic regions

 

To qualify for the Islamic Account, traders must provide their proof of residence during their account application. This will serve as proof that traders are eligible for the swap-free account according to their region.

 

Traders who use the Islamic Account must note that administration charges are incurred on this account option. These include:

  • Cryptocurrencies (Professional Account Only), commodities, equities – 1.5 USD
  • Index Markets – 10 USD
  • GER40, FRA40, JPN225, CN50, ETH/USD (Professional Account Only) – 12 USD
  • SpotCrude and SpotBrent – 20 USD
  • US30 – 30 USD
  • Forex, precious metals on the retail account – 50 USD
  • Only on the professional account – Crypto10, Crypto20, and Crypto30 – 50 USD
  • BTC/USD (Professional Account Only) – 125 USD

 

Pepperstone Pros and Cons

PROS CONS
Award-winning broker with multi-regulation Restricted leverage offered for non-professional traders
Negative balance protection which is applied to retail trading accounts Limited account types offered
Powerful trading platforms offered Demo account expires in 30 days
Social trading opportunities are offered Fixed spreads are not offered
Accepts several different trading strategies and styles US clients are not accepted
Islamic account and demo account options are offered

PEPPERSTONE AT A GLANCE

Broker's Name Pepperstone
Headquartered Melbourne, Australia
Year Founded 2010
Regulating Authorities ASIC, FCA, DFSA, SCB, CySEC, BaFin, CMA
Countries not accepted for trade United States
Islamic Account (Swap Free) Yes
Demo Account Yes
Institutional Accounts Yes
Managed Accounts No
Maximum Leverage 1:30 (retail), 1:500 (professional)
Minimum Deposit AU$200
Deposit Options
  • Credit cards
  • Debit Cards
  • Bank transfer
  • PayPal
Withdrawal Options
  • Credit cards
  • Debit Cards
  • Bank transfer
  • PayPal
Platform Types
  • cTrader
  • MetaTrader 4
  • MetaTrader 5
OS Compatibility Android, iOS, web browsers, Linux, Windows, macOS
Tradable Assets
  • Forex
  • Commodities
  • Indices
  • Shares
  • ETFs
  • Currency Indices
  • Cryptocurrencies
Languages supported on Website English, Simplified Chinese
Customer Support Languages English, Spanish, Russian, Chinese, Vietnamese, Arabic, Indonesian, Italian, French, Laotian, German Polish
Customer Service Hours 24/5

 

You might also like: Pepperstone Demo Account

You might also like: Pepperstone Fees and Spreads

You might also like: Pepperstone Islamic Account

You might also like: Pepperstone Minimum Deposit

 

Overall Rating

4.9/5

Rated #10 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

ASIC, FCA, CySEC, BaFin, DFSA, SCB, CMA

📱 Trading Desk

MetaTrader 4, MetaTrader 5 and cTrader

Crypto

Yes

📈 Total Pairs

1000+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FAQ

TRADING ENVIRONMENT

How many instruments can I trade with Pepperstone?

You can trade any of the following instruments:

  • Forex
  • Commodities
  • Indices
  • Shares
  • ETFs
  • Currency Indices
  • Cryptocurrencies

 

Which platforms are supported by Pepperstone?

Pepperstone supports the use of:

  • cTrader
  • MetaTrader 4
  • MetaTrader 5

 

Does Pepperstone offer leverage?

Yes, Pepperstone offers leverage of up to 1:30 for retail clients while professionals are given access to leverage up to 1:500.

 

What spreads can I expect with Pepperstone?

Spreads with Pepperstone start from 0.0 pips on the Razor Account.

 

Does Pepperstone charge commission?

Yes, Pepperstone charges commissions from AU$7 or currency equivalent per round turn on the Razor Account.

 

Are there additional charges on the Islamic account?

Yes, the Islamic account incurs additional administration charges in USD that are applied as follows:

  • Cryptocurrencies (Pro Only), commodities, equities – 1.5 USD
  • Index Markets – 10 USD
  • GER40, FRA40, JPN225, CN50, ETH/USD (Pro Only) – 12 USD
  • SpotCrude and SpotBrent – 20 USD
  • US30 – 30 USD
  • Forex, precious metals, Crypto10 (Pro), Crypto20 (Pro), and Crypto30 (Pro) – 50 USD
  • BTC/USD (Pro Only) – 125 USD

 

Is Pepperstone regulated and by whom?

Yes, Pepperstone is regulated by ASIC, FCA, DFSA, SCB, CySEC, BaFin, CMA.

 

Is Pepperstone a recommended forex trading broker for experts and beginners?

Yes, Pepperstone is recommended for both beginners and experts.

 

What is the overall rating out of 10 for Pepperstone?

9/10.

 

ACCOUNTS

What is the difference between a demo and a live trading account?

A demo account is a practice account that can be used by both beginner and professional traders. Beginners can use a demo account to practice their trading while more advanced traders can use it to test their trading strategies.

 

Alternatively, traders can also use a demo account to explore what a broker has to offer. Demo accounts are known for the risk-free environment that they offer along with the virtual funds which are used to trade.

 

Does Pepperstone offer a demo account?

Yes, Pepperstone offers a demo account.

 

How long is the demo account valid?

The MetaTrader 4 and MetaTrader 5 demo accounts typically expire after 30 days. However, traders who have a verified live trading account with Pepperstone can request that their demo account be set to non-expiry. This will provide unlimited access if the trader uses it at least once every 90 days.

 

Which live trading accounts does Pepperstone offer?

Pepperstone offers:

  • Standard Account
  • Razor Account
  • Professional Account

 

Does Pepperstone offer an Islamic Account?

Yes, Pepperstone offers an Islamic Account option.

 

What are the available deposit currencies for a live trading account?

  • USD
  • AUD
  • JPY
  • GBP
  • EUR
  • CAD
  • CHF
  • NZD
  • SGD
  • HKD

 

DEPOSITS AND WITHDRAWALS

What is the minimum deposit required to open an account with Pepperstone?

AU$200.

 

How do you make a deposit and withdraw money with Pepperstone?

  • Credit cards
  • Debit Cards
  • Bank transfer
  • PayPal

 

Does Pepperstone charge withdrawal fees?

No, Pepperstone does not charge any withdrawal fees. However, banks may charge intermediary fees that traders will be liable for.

 

How long does it take to make a withdrawal?

According to the official Pepperstone website, withdrawals can take between one and three working days