Exness Review
Pepperstone Account Types
Overall, Pepperstone is very competitive in terms of its trading fees and spreads. Pepperstone is regulated by one Tier-1 (High Trust), one Tier-2 (Medium Trust), and one Tier-3 (Low Trust) regulator. Pepperstone has a trust score of 92% out of 100. Pepperstone is currently not regulated by the MFED, BoB, or NBFIRA of Botswana
- Lesche Duvenage
Jump to:
Account Types Overview
Account Types
Account Features
Pros and Cons
Final Verdict
FAQ
Overall Rating
- 4.9/5
Min Deposit
0 USD / 0 BWP
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Desk
MetaTrader 4, MetaTrader 5, cTrader and TradeView
Crypto
Yes (Not available in Africa)
Total Pairs
60+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Pepperstone Account Types – 8 key points quick overview:
Pepperstone Overview
👉 Overall, Pepperstone is considered low-risk, with an overall Trust Score of 93 out of 100. Pepperstone is licensed by three Tier-1 Regulators (high trust), three Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust).
👉 In addition, Pepperstone offers two different retail trading accounts, a Standard Account, and a Razor Account.
👉 Pepperstone was established in 2010 in Australia and is famous worldwide for its low trading prices and various trading platforms. Pepperstone’s services are intended to provide a comprehensive trading solution.
👉 Every transaction is done at lightning-fast rates and with unfiltered spreads. The reduced commissions also fulfil the company’s promise to assist traders in achieving their objectives.
👉 In addition to being one of the best forex brokers in Australia, Pepperstone has been honoured by several organizations, including Deloitte, Investment Trends, and Investopedia.
👉 It has also been recognized by the Australian state of Victoria’s governor for offering superior customer service and functioning successfully under various trade situations.
👉 In a sector prone to volatile times, the separation of customer accounts and corporate cash provides an extra degree of protection.
👉 Support alternatives include chat and phone assistance available 24 hours a day, five days a week, and a FAQ containing clearly stated rules on deposits, withdrawals, and trade disputes.
👉 Pepperstone provides straightforward market access, allowing clients to concentrate profitably on the complex business of trading. Pepperstone is perfectly suited for traders who need a proper selection of low-cost offers, different user interface options, and multiple account kinds.
👉 Pepperstone offers two accounts with very low trading expenses relative to other brokers. In addition, neither account has a minimum deposit requirement.
👉 Because commissions are computed differently on each of the three trading platforms, it was impossible to ascertain the commissions for the Razor Account.
👉 Although there is no set minimum deposit for either the Standard or Razor accounts, we recommend a minimum deposit of $200 to avoid excessive margin calls. In addition, the trading charges for both accounts are much cheaper than those of many other brokers.
👉 The trading expenses on the Standard Account are included in the spread. However, they are somewhat lower than the trading costs on the Razor Account, which include a tiny fee that varies depending on the trading platform you use.
👉 The account’s base currency also impacts commissions on the MT4 and MT5 platforms and the currency pair traded on the cTrader platform. Pepperstone has clients from around the world, and these areas have the largest distributions:
➡️ Mongolia – 11%
➡️ Australia – 9.6%
➡️ Mexico – 7.4%
➡️ United Kingdom – 7%
➡️ Brazil – 5.4%
Pepperstone At a Glance
| 🏛 Headquartered | Melbourne, Australia with offices globally |
| 🌎 Global Offices | Australia, UK, Germany, Bahamas, Dubai, Kenya, Cyprus |
| 🏛 Local Market Regulators in Botswana | • Ministry of Finance and Economic Development (MFED) • Bank of Botswana (BoB) • Non-Bank Financial Institutions Regulatory Authority (NBFIRA) |
| 💳 Foreign Direct Investment in Botswana | 115.89 BWP Million in 2021 |
| 💰 Foreign Exchange Reserves in Botswana | 5270 USD Million in 2021 |
| ✔️ Local office in Gaborone? | No |
| 👨⚖️ Governor of SEC in Botswana | None, Moses Dinekere Pelaelo is the Governor of the Bank of Botswana |
| ✔️ Accepts Botswana Traders? | Yes |
| 📊 Year Founded | 2010 |
| 📞 Botswana Office Contact Number | None |
| 📱 Social Media Platforms | • Facebook • YouTube |
| ⚖️ Regulation | ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB |
| 1️⃣ Tier-1 Licenses | • Australian Securities and Investment • Commission (ASIC) Financial Conduct • Authority (FCA) Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) |
| 2️⃣ Tier-2 Licenses | • Cyprus Securities and Exchange • Commission (CySEC) Dubai Financial Services Authority (DFSA) • Capital Markets Authority (CMA) |
| 3️⃣ Tier-3 Licenses | • Securities Commission of the Bahamas (SCB) |
| 🪪 License Number | • Bahamas – 177174 B • Australia – ACN 147055703, AFSL 414530 • United Kingdom – 684312 • Cyprus – HE 398429 • Nigeria – CMA Licence Number 128 • Dubai – DFSA F004356, DIFC 3460 • Germany – 151148 |
| ⚖️ MFED, BoB, or NBFIRA Regulation | No |
| ✔️ Regional Restrictions | United States, Canada, Iran, Japan, Iraq, Zimbabwe, Yemen, and others |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 2 |
| ✔️ PAMM Accounts | No, only MAM for fund managers |
| 💻 Liquidity Providers | Barclays, HSBC |
| ✔️ Affiliate Program | Yes |
| 📱 Order Execution | Market |
| 📊 Starting spread | Variable, from 0.0 pips EUR/USD |
| 📉 Minimum Commission per Trade | From AU$7 |
| 💰 Decimal Pricing | 5th decimal pricing after the comma |
| 📞 Margin Call | 90% |
| 🛑 Stop-Out | 20% |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | 100 lots |
| ✅ Crypto trading offered? | Yes |
| ✔️ Offers a BWP Account? | No |
| 📉 Dedicated Botswana Account Manager? | No |
| 📈 Maximum Leverage | • 1:500 (Professional) • 1:200 (Retail) – Depending on the jurisdiction |
| 📊 Leverage Restrictions for Botswana? | No |
| 💳 Minimum Deposit (BWP) | 0 BWP or an equivalent to $0 |
| ✔️ Botswana Pula Deposits Allowed? | No |
| 📊 Active Botswana Trader Stats | 250,000+ |
| 👥 Active Botswana-based Pepperstone customers | Unknown |
| 🔁 Botswana Daily Forex Turnover | Unknown, Forex overall is $6.6 Trillion |
| 💰 Deposit and Withdrawal Options | • Visa • Mastercard • Bank transfer • MPESA • Paypal • Bpay • Neteller • POLi • Skrill • China UnionPay |
| 💻 Minimum Withdrawal Time | 1 business day |
| ⏰ Maximum Estimated Withdrawal Time | Up to 7 business days |
| 💳 Instant Deposits and Instant Withdrawals? | No |
| 🏛 Segregated Accounts with Botswana Banks? | No |
| 📱 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • cTrader • TradingView • Myfxbook • DupliTrade |
| 💻 Tradable Assets | • Forex • Cryptocurrencies • Shares • ETFs • Indices • Commodities • Currency Indices |
| ✔️ Offers USD/BWP currency pair? | No |
| 📊 USD/BWP Average Spread | N/A |
| ✅ Offers Botswana Stocks and CFDs | No |
| 💻 Languages supported on the Website | English, Spanish, Russian, Chinese, Vietnamese, Arabic, Indonesian, Italian, French, German, Hungarian, Turkish |
| ☎️ Customer Support Languages | Multilingual |
| 👥 Copy Trading Support | Yes |
| ⏰ Customer Service Hours | 24/5 |
| 📞 Botswana-based customer support? | Yes |
| 💸 Bonuses and Promotions for Botswanans? | None |
| 📚 Education for Botswanan beginner traders | Yes |
| 📱 Proprietary trading software | No |
| 🤝 Most Successful Trader in Botswana | Unknown |
| ✔️ Is Pepperstone a safe broker for Botswana Traders? | Yes |
| 🎖 Rating for Pepperstone Botswana | 9/10 |
| 🥇 Trust score for Pepperstone Botswana | 92% |
| 👉 Open Account | 👉 Open Account |
Pepperstone Account Types
👉 Standard Accounts and Razor Accounts are the two types of active retail accounts offered by Pepperstone to Botswana customers.
👉 Beginner traders and non-professionals may open a Standard Account, which is a conventional kind with no commission fees and STP spreads of institutional quality.
👉 In addition, regardless of account type, Pepperstone accounts provide the same high-quality performance, support, and platform features.
👉 The Razor Account is an option for expert traders who would rather pay commission than spread regularly, with commission beginning at USD 3.5 per side and spreads beginning at 0 pips.
👉 Leverage can be modified to meet your requirements, and powerful algorithms assure speedy transaction execution.
| 💻 Live Account | 📉 Minimum Dep. | 📊 Average Spread | 💰 Commissions | 💸 Average Trading Cost |
| ➡️ Standard | 0 BWP/ 0 $ | 0.6 pips | None | 7.7 USD |
| ➡️ Razor | 0 BWP/ 0 $ | 0.0 pips | 7 AUD per lot | • cTrader: 8.17 USD • MT4: 8.17 USD • MT5: 9.2 USD |
Pepperstone Account Features
Standard Account
👉 Straight-Through Processing (STP) accounts don’t need human involvement during the payment process and transfer trades straight to liquidity providers. By speeding up transactions, merchants should be able to save both time and money.
👉 Since it provides the greatest functionality and access to all Pepperstone’s trading platforms, the standard account is the best choice for new investors.
| Account Feature | Value |
| 💰 Minimum Deposit | $0 / 0 BWP |
| 💻 Minimum Trading Size | 0.01 lots |
| 📈 Maximum Trading Size | 100 lots in a single trade |
| 💵 Base Account Currency | AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, and HKD |
| ✅ Trading Strategies Supported | All including scalping, hedging, and Expert Advisors (EAs) |
| 🗞 News Trading Offered? | Yes |
| ➡️ Trade Execution | No-Dealing Desk (NDD) |
| 📊 Average EUR/USD Spread | From 0.6 pips |
| 💸 Commissions | None |
| 🔃 Rollover Swaps | Yes, according to the market rates |
| ⬆️ Maximum Leverage per region | • Australia – 1:30 • Bahamas – 1:200 • Cyprus – 1:30 • Dubai – 1:30 • Germany – 1:30 • Botswana – 1:400 • United Kingdom – 1:30 |
| ❌ Negative Balance Protection Offered | Yes, only for retail clients |
| ✅ Margin Close-Out (%) | 50% |
| 🔨 Trading Instruments offered | 1,200+ |
| 💻 Trading Platforms offered | MetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, DupliTrade |
Razor Account
👉 The Razor Account is the ECN account offered by Pepperstone. These Institutional grade spreads have no markups and are often substantially cheaper.
👉 However, this account has higher costs and is more appropriate for seasoned traders, especially those curious about scalping and trading algorithms. Overall, the Razor account offers more risks than advantages; thus, new players should start with a normal account.
| Account Feature | Value |
| 💰 Minimum Deposit | 0 BWP or an equivalent to $0 |
| 💻 Minimum Trading Size | 0.01 lots |
| 📈 Maximum Trading Size | 100 lots in a single trade |
| 💵 Base Account Currency | AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, and HKD |
| ✅ Trading Strategies Supported | All including scalping, hedging, and Expert Advisors (EAs) |
| 🗞 News Trading Offered? | Yes |
| ➡️ Trade Execution | No-Dealing Desk (NDD) |
| 📊 Average EUR/USD Spread | Between 0.0 pips and 0.3 pips |
| 💸 Commissions | From AU$7 round turn on 100,000 traded |
| 🔃 Rollover Swaps | Yes, according to the market rates |
| ⬆️ Maximum Leverage per region | • Australia – 1:30 • Bahamas – 1:200 • Cyprus – 1:30 • Dubai – 1:30 • Germany – 1:30 • Botswana – 1:400 • United Kingdom – 1:30 |
| ❌ Negative Balance Protection Offered | Yes, only for retail clients |
| ✅ Margin Close-Out (%) | 50% |
| 🔨 Trading Instruments offered | 1,200+ |
| 💻 Trading Platforms offered | MetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, DupliTrade |
Pepperstone Demo Account
👉 Consider the demo account part of Pepperstone’s full instructional offering for novices.
👉 The well-organized education section of Pepperstone’s website has a plethora of information that may educate you on the fundamentals of trading and videos that illustrate how to use the company’s platforms.
👉 The next stage is to continue your forex trading education, which consists of webinars accessible through the website and Pepperstone’s YouTube channel.
👉 Pepperstone’s webinars are presented once every few weeks and are free to view. In addition, the content is incredibly useful and instructive. The demo account should be your first stop since it allows you to trade on a realistically replicated market with as much imaginary money as you wish.
👉 This enables you to evaluate your trading abilities and get familiar with the platform without risking your whole account value. Moreover, if you forget anything you have learned, you can always go to Pepperstone’s dictionary.
Pepperstone Islamic Account
👉 Most FX and CFD companies nowadays provide Islamic accounts to Muslim traders.
👉 In 2020, Pepperstone created its own Islamic Swap-Free account, which exempts Muslim traders from overnight fees and interest, but imposes an administration cost on positions held for 10 days or longer.
👉 Pepperstone’s Islamic account is available for clients who want to trade per Sharia law. Due to the absence of swap and rollover interests on overnight holdings, the Islamic account is distinctive.
👉 The following features distinguish the Pepperstone Islamic Account:
➡️ This account requires a minimum deposit of 200 AUD or equivalent in EUR, GBP, or USD.
➡️ Traders might anticipate EUR/USD spreads between 1.1 and 1.2 pips.
➡️ This account offers commission-free trading, and broker expenses are included in the spread.
➡️ Expertise in scalping, hedging, and Expert Advisors (EAs).
➡️ Pepperstone offers this choice to customers in several countries, including Albania, Azerbaijan, Bangladesh, Burkina Faso, Bahrain, Brunei, Brunei Darussalam, Algeria, Egypt, Guinea, Indonesia, Jordan, Kyrgyzstan, Kuwait, Morocco, Mauritania, Maldives, Malaysia, Niger, Oman, Pakistan, Palestinian Territory, Qatar, Sierra Leona, Chad, Tajikistan, Turkmenistan, Tunisia, and Turkey.
👉 Moreover, Muslim traders who want to utilize this account must know that the following administrative costs apply once a position has been held for 10 days. These costs include:
➡️ Cryptocurrencies (Professional Account Only), commodities, equities – 1.5 USD
➡️ Index Markets – 10 USD
➡️ SpotCrude and SpotBrent – 20 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
➡️ GER40, FRA40, JPN225, CN50, ETH/USD (Professional Account Only) – 12 USD
➡️ US30 – 30 USD
Overall Rating
- 4.9/5
Min Deposit
0 USD / 0 BWP
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Desk
MetaTrader 4, MetaTrader 5, cTrader and TradeView
Crypto
Yes (Not available in Africa)
Total Pairs
60+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Pepperstone Kenya Pros and Cons
| ✔️ Pros | ❌ Cons |
| Pepperstone offers competitive spreads that start from 0.0 pips on EUR/USD | There are restrictions on the countries that may use Pepperstone’s Islamic account |
| Pepperstone is well-regulated and offers an extremely secure trading environment with transparent trading fees | There is no BWP-denominated account offered, subjecting Botswanans to currency conversion fees |
| Investor protection is offered to EU clients through the FSCS | There are additional administrative fees applied to the Islamic account |
| Pepperstone offers a choice between some of the best trading platforms | |
| Negative balance protection is offered for clients in certain regions | |
| There is an Islamic account offered to Muslim traders | |
| There is a demo account offered by Pepperstone | |
| There are several trading tools offered |
Verdict on Pepperstone
👉 Overall, Pepperstone is very competitive in terms of its trading fees and spreads.
FAQ
What is the average trading cost associated with Pepperstone?
The average trading cost that Botswanans can expect with Pepperstone is 7.7 USD on the Standard Account and 9.20 USD on the Razor Account.
What leverage ratios can I use with Pepperstone?
Retail traders can use leverage up to 1:200 while professionals can use up to 1:500.
Can I register an Islamic Account with Pepperstone in Botswana?
You can register an Islamic Account with Pepperstone if you reside in Albania, Azerbaijan, Bangladesh, Burkina Faso, Bahrain, Brunei, Brunei Darussalam, Algeria, Egypt, Guinea, Indonesia, Jordan, Kyrgyzstan, Kuwait, Morocco, Mauritania, Maldives, Malaysia, Niger, Oman, Pakistan, Palestinian Territory, Qatar, Sierra Leona, Chad, Tajikistan, Turkmenistan, Tunisia, and Turkey.
Does Pepperstone charge commissions?
Pepperstone charges commission fees on the Razor Account. These fees start from AUD 7 per lot.
Can I use Expert Advisors on my Pepperstone account?
You can use any trading strategy with Pepperstone, including Expert Advisors (EAs) on MT4 or MT5.
