Pepperstone review
Companies House 08965105 · founded 2010 · Pepperstone Limited
Authorised by the FCAFRN 684312on the register since 5 Aug 20153 clone firms on the register
The firm in our Pepperstone review is Pepperstone Limited. The FCA authorised it under reference 684312 on 05/08/2015. Deposit £0 through a bank transfer, or use £10 with a card, Apple Pay or Google Pay. You can then trade over 2,700 markets. The register reports losses for 73.6% of retail accounts and also provides 3 clone warnings.
- Regulatory status
- Authorised, FRN 684312
- Loss-making retail accounts
- 73.6% (read on 2 Nov 2026)
- GBP/USD: minimum spread
- 0 pips
- Smallest deposit
- £10
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. With this provider, losses occur for 73.6% of retail investor accounts trading spread bets and CFDs. You should consider whether you can afford a high risk of losing your money and whether you know how spread bets and CFDs work.
On pepperstone.com, Pepperstone's own wording was read 2 Nov 2026.
How Pepperstone compares on loss rate with the wider field
Where Pepperstone stands on the FCA register
Since 5 Aug 2015, Pepperstone Limited has been authorised by the FCA, FRN 684312, and holds client money.
| Firm | Pepperstone Limited |
|---|---|
| FRN | 684312 |
| Status | Authorised |
| Authorised since | 5 Aug 2015 |
| Companies House | 08965105 |
| Address on the register | 4th Floor at 27 Old Jewry in London, EC2R 8DQ, UNITED KINGDOM |
| Website on the register | www.pepperstone.com |
Clone firms on the register
The FCA register lists 3 clone firms that use this firm's name or details., and none of them is Pepperstone Limited.
- Pepper/Pepperforeign.com is listed as a clone of an FCA authorised firm. It was added 05 Feb 2021.on the register from 05 Feb 2021
- Listed on 05 Feb 2021, Melisfx/FXSM Group are clones of an FCA authorised firm.on the register from 05 Feb 2021
- Clone of FCA Authorised firm: DIFC Investment. Added 21 Apr 2023.on the register from 21 Apr 2023
Check that you are on the genuine website
www.pepperstone.com is Pepperstone Limited's website on the register. Don't use a link sent in an advert, email or message; type the address yourself. Then check FRN 684312 in the register listing.
Read 2 Nov 2026. Source: FCA Financial Services Register.
What Pepperstone charges in spreads and commission
On Standard and spread betting accounts, you pay only the spread. For EUR/USD, Standard starts at 1 pip and spread betting at 0.5 pips. With Razor spreads you start at 0 pips and pay a £4.50 commission per lot, and there are £0 inactivity fees.
| Market | Account | As stated | Spread |
|---|---|---|---|
| GBP/USD | Razor | Minimum | 0 pips |
| GBP/USD | Standard | Minimum | 1 pips |
| GBP/USD | Spread betting | Minimum | 0.8 pips |
| EUR/USD | Razor | Minimum | 0 pips |
| EUR/USD | Standard | Minimum | 1 pips |
| EUR/USD | Spread betting | Minimum | 0.5 pips |
| Gold (XAU/USD) | Razor | From | 0.08 points |
| Gold (XAU/USD) | Spread betting | From | 0.1 points |
Account types
| Standard | This option is spread only and adds 1 point to FX pairs. There's no commission on FX, indices or commodities, but share CFDs carry a commission. |
|---|---|
| Razor | For FX and Spot Gold, you pay a raw spread with commission from GBP 2.25 per lot on each side. On MT4/MT5 GBP accounts, the round trip charge is GBP 4.50 per lot.) |
| Spread betting | The spread is the only charge, with stakes set in GBP for each point. |
Read 2 Nov 2026. Source: pepperstone.com/en-gb/trading/costs-and-fees. Also read 2 Nov 2026. Source: pepperstone.com/en-gb.
Other fees
| Inactivity | no inactivity fee |
|---|---|
| Deposits | none charged by Pepperstone |
| Withdrawals | free, though a bank wire to an international bank account costs GBP 15) |
Sources: pepperstone.com/en-gb/trading/costs-and-fees, read 2 Nov 2026; pepperstone.com/en-gb/trading/withdrawals, read 2 Nov 2026
Deposits and withdrawals
| Minimum deposit | ££10. Bank transfers have no minimum; cards, Apple Pay, Google Pay need £10 |
|---|---|
| Ways to deposit | Apple Pay, Google Pay, Debit or credit card (Visa, Mastercard), Domestic bank transfer and International bank transfer. |
| Ways to withdraw | Domestic bank transfer, International bank transfer, Apple Pay, Google Pay, Debit/credit card |
| Withdrawal time | Cards, Apple Pay and Google Pay take up to 1 working day; bank transfers can take up to 7 working days. |
Read 2 Nov 2026: pepperstone.com/en-gb/trading/funding-methods and pepperstone.com/en-gb/trading/withdrawals, both read 2 Nov 2026.
Products, markets and leverage
| CFDs | Yes |
|---|---|
| Spread betting | Yes |
| Markets | over 2700+ spread bets and CFDs |
| Retail leverage | Major currency pairs 1:30; major indices and gold 1:20; other commodities 1:10; shares 1:5 |
| Execution | no dealer intervention; multiple tier 1 liquidity providers |
Sources: pepperstone.com/en-gb/trading/trading-accounts, read 2 Nov 2026; pepperstone.com/en-gb/trading/costs-and-fees, read 2 Nov 2026; pepperstone.com/en-gb/platforms, read 2 Nov 2026
Pepperstone trading platforms
| MetaTrader 4 | Yes |
|---|---|
| MetaTrader 5 | Yes |
| cTrader | Yes |
| TradingView | Yes |
| Own platform | Pepperstone platform |
| Demo account | Yes |
Read 2 Nov 2026. Source: pepperstone.com/en-gb. Also read 2 Nov 2026. Source: pepperstone.com/en-gb/trading/demo-account.
Your protection if the firm runs into trouble
| FSCS | Should Pepperstone Limited, an FCA authorised UK firm, fail owing you money, the Financial Services Compensation Scheme can cover losses of up to £85,000 per person. |
|---|---|
| Negative balance protection | Yes, as the broker states |
| Client money | The register shows permission to hold client money |
Source: fscs.org.uk/what-we-cover/investments, read 2 Nov 2026; pepperstone.com/en-gb/trading/costs-and-fees, read 2 Nov 2026
Tax on the products traded here
At Pepperstone, you can trade spread bets that HMRC doesn't charge to Capital Gains Tax, while gains from CFDs fall within it. Read more in spread betting vs CFDs.
Accounts without swaps, customer support and the mobile app
| Support | Support is available by email, phone, WhatsApp and live chat. Weekday hours are 24, while weekend hours are 18. |
|---|---|
| iPhone app rating | The UK App Store, 2 Nov 2026, listed a score of 4.12 out of 5. That score came from 92 ratings. |
Read 2 Nov 2026: pepperstone.com/en-gb/trading/trading-accounts and itunes.apple.com/lookup, both read 2 Nov 2026.
The official Pepperstone website
Put Pepperstone next to another broker
Other options besides Pepperstone: other FCA firms that offer spread betting and CFDs
Each firm sits in A to Z order, with none ranked above another.
Common questions answered
What is the Pepperstone minimum deposit and withdrawal time?
Deposits by bank transfer start from £0. You'll need at least £10 if you pay with Visa, Mastercard, Apple Pay or Google Pay. A withdrawal through a card, Apple Pay or Google Pay may take up to 1 working day to arrive. A bank transfer can take up to 7 working days. There's no deposit or withdrawal fee, except £15 for an international bank wire.
Can I open a Pepperstone demo account on its platforms?
A free demo account lets you practise without risking real money. The 5 platforms are MetaTrader 4, MetaTrader 5, cTrader, TradingView plus Pepperstone's own platform. The Pepperstone: Trade CFD & Forex app can be downloaded on iOS. Its rating is 4.12 from 92 user reviews.
How does the Pepperstone Razor account work?
Your raw spread begins at 0 pips for EUR/USD and GBP/USD. On spot gold, it begins at 0.08 points. A currency price move is measured in a pip, a tiny unit. The commission starts at £2.25 per side rather than the 1 point mark up used on a Standard account. Each 1 lot traded carries that fee. A lot represents a standard bundle of currency. With MT4 and MT5 GBP account terms, opening a 1 lot trade comes to £4.50 in total.
How does Pepperstone spread betting work in the UK?
For each point a price moves, you bet a set amount in pounds. You don't buy the asset itself. Your cost is included in the spread, the small difference between buy and sell prices. The £0 commission covers spread betting and CFDs involving currencies, indices and commodities. Share CFDs charge a fee. Spreads have minimums of 0.5 pips for EUR/USD, 0.8 pips for GBP/USD and 0.1 points for gold.
What are the Pepperstone leverage limits for UK traders?
Leverage lets you control a larger trade with a small deposit, which multiplies your gains and your losses. Your retail leverage limits are 1:30 on major currency pairs and 1:20 on gold and major indices. Other commodities give you 1:10, and shares give you 1:5. You can't lose more than your deposit thanks to negative balance protection. Trades have no dealer intervention. On weekdays, support is available for 24 hours; at weekends, for 18. The team can be reached by phone, email, WhatsApp or live chat.