Featured review

Pepperstone

Pepperstone is a global CFD broker operating through multiple regulated entities. The legal entity serving your account defines leverage caps, protections, and risk disclosure language. EU clients are generally onboarded under Pepperstone EU Limited (CySEC licence 388/20) with ESMA-style retail leverage limits. Non-EU clients may be onboarded under FCA, ASIC, DFSA, or SCB-regulated entities, each with different terms. Platform coverage includes MT4, MT5, cTrader, and TradingView integration, with account models split between Standard (spread-only) and Razor (raw spread plus commission). This review follows BrokerFindโ€™s compliance-first format and focuses only on CFDs.

Editorial score: 8.6/10 Multi-asset CFD broker CySEC (EU), FCA/ASIC/SCB/DFSA (entity-dependent) Updated 2026-05-02

Table of contents

Important risk warnings

  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.7% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • Leverage, margin close-out, and negative balance protection depend on the legal entity serving your account and local regulation.

Fees, charges, and key terms

  • Account structures and commissions differ by platform/account type (for example spread-only vs raw spread + commission models).
  • Swap/overnight financing applies to leveraged CFD positions held past rollover.
  • Total trading cost depends on spread, commission (if any), financing, and conversion costs.

Terms and conditions: Terms vary by entity, platform, and jurisdiction. Verify legal documents and product disclosures before opening an account.

At a glance

8.6/10
Editorial score
CFD trading
Primary focus
73.7%
EU CFD loss disclosure
74%โ€“89%
Non-EU disclosure range

Overview

Pepperstone positions itself as a CFD broker with broad platform access and entity-based regulation. In practice, user protections and disclosures depend on the entity assigned at onboarding, so region selection matters before account opening.

Platform experience

Platform stack is broad: MT4, MT5, cTrader, and TradingView are available depending on entity and account configuration. MT4 remains common for EA workflows, MT5 adds more native asset support and tools, cTrader targets advanced order flow and depth-of-market usage, and TradingView suits chart-first discretionary workflows.

Fees and trading costs

Pricing follows account model: Standard uses spread-only pricing, while Razor uses raw spreads plus commission. Total cost per position depends on spread, commission, rollover financing (swap), and base-currency conversion effects. Overnight financing remains material for multi-day leveraged CFD positions.

Regulation and protections

Protections vary by serving entity. EU retail clients should expect standardized disclosures, leverage caps, and negative balance protection rules under EU regulation. Non-EU entities may apply different leverage, margin close-out thresholds, and disclosure percentages, so exact legal terms must be checked before funding.

Strengths and trade-offs

Strength: broad platform choice, established CFD focus, and multiple regulatory footprints. Trade-off: terms, disclosures, and protective mechanisms vary across entities, so onboarding and legal-document checks are critical.

What works well

  • CFD-specialized broker with broad platform support
  • Entity-level regulation across major jurisdictions
  • Clear focus on execution and platform flexibility

What to consider

  • Terms and investor protections vary by serving entity
  • Risk disclosure percentages differ between EU and non-EU entities
  • Overnight financing can materially increase multi-day CFD costs

Editorial verdict

Pepperstone is competitive for CFD traders who verify entity-specific protections and costs before funding. EU disclosure in this review is fixed at 73.7%; non-EU disclosures generally sit between 74% and 89%.

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Your capital is at risk. Bonuses are available exclusively to clients not domiciled in the European Union.