Pepperstone Introduction and Rebates Overview

Cashback Island provides you with Pepperstone rebate services.

As an IB (Introducing Broker), Cashback Island introduces clients to Pepperstone. Pepperstone then returns a portion of the trading volume as commission to the IB, who in turn shares that commission proportionally with clients, this is called a rebate.

Every time you trade using a Pepperstone account opened through Cashback Island, you will receive a rebate.

Opening a rebate account involves the same steps as opening a regular account, just a simple user registration is required!

Use our rebate service to save money on your overseas forex trading!

Pepperstone Rebate Details

Pepperstone’s rebate program can reach up to ?%. Taking EUR currency pairs as an example, the official rebate amount given to IB is 2 USD per lot, and we can rebate customers 2 USD × ?% = ? USD/lot. If the client’s trading volume reaches a certain standard, a higher rebate percentage can be further negotiated, effectively reducing the overall trading cost.

Users who register through the exclusive link will enjoy the rebate discount, and all other trading costs (including spreads, commissions, etc.) remain exactly the same as the official standard, with absolutely no additional charges. This mechanism ensures that investors can obtain extra earnings while maintaining identical trading conditions to the official standard.

How to Open a Rebate Account

To open a rebate account, please follow the four steps below.

1. Open a Pepperstone trading account through our IB link
2. Register and log in to our rebate portal (click here to view the specific registration method)
3. Enter the user page and register using the Pepperstone account you opened.
4. After registration, rebates will be automatically generated with every trade

Open a New Trading Account

Click the button below to open your first Pepperstone trading account immediately.

Open an Account with Pepperstone

Pepperstone Introduction

Pepperstone is a globally leading online trading broker established in 2010, headquartered in Melbourne, Australia, with branches in London, Cyprus, Dubai, and Kenya. Since its inception, the company has rapidly risen with technology-driven innovative services and a low-cost trading environment, currently achieving an average daily trading volume exceeding 12.5 billion USD and serving over 400,000 retail trading accounts across more than 170 countries. In 2022, Pepperstone was awarded “Best Forex Broker” and “Best MetaTrader Platform Provider,” highlighting its industry-leading position.

Company Background

Pepperstone was founded by Owen Kerr and Joe Davenport, with its core team comprising seasoned experts in financial technology and market trading. 

Through its Direct Market Access (DMA) model and ECN account structure, the company focuses on providing institutional-grade trading conditions for retail and institutional investors, including low spreads, high liquidity, and millisecond-level execution speeds. 

As of 2025, its business network covers over 1,200 financial instruments, including forex, contracts for difference (CFDs), cryptocurrencies, and stock indices.

Regulation

Pepperstone is regulated in 7 jurisdictions worldwide. Below are Pepperstone’s regulatory licenses and companies.

Fund Security

In addition to being regulated by ASIC, SCB, CMA, CySEC, FCA, BaFin, and DFSA, Pepperstone stores all client funds in segregated bank accounts, completely separate from the company’s operating capital, and held by top-tier institutions such as Standard Chartered Bank and Barclays Bank. Even in the event of financial risks faced by the company, client assets remain protected.

Furthermore, the platform adopts SSL encryption technology, 2FA (two-factor authentication), and undergoes regular third-party audits. Combined with the negative balance protection mechanism, these measures comprehensively safeguard against trading risks.

Pepperstone’s Platform Features and Trading Conditions

The key features of the Pepperstone platform can be summarized as follows:

• Multi-jurisdiction regulation and fund security
• Maximum leverage up to 500:1
• More than 1,200 trading instruments
• Floating spreads starting from 0.0 pips
• 30-millisecond execution speed
• Multi-platform trading and technical tools
• 24/7 customer support and educational resources

Pepperstone Account Types

To meet the different needs of each trader, Pepperstone offers two types of trading accounts.

The Standard Account features simple spreads with no commission, while the Razor Account offers raw spreads with commission charges and lower trading costs.

Maximum Leverage of 500x

Pepperstone offers traders in Taiwan, Hong Kong, and Malaysia leverage of up to 500x, which ranks among the top levels in the forex brokerage industry.
It is important to note that Pepperstone categorizes clients into retail and professional clients, with significant differences in maximum leverage and stop-out levels: retail clients have a maximum leverage of 200x, while only professional clients can enjoy the maximum leverage of 500x.
All clients are initially classified as retail clients upon account opening, but traders can apply to upgrade to professional client status (Pepperstone Pro) via the Pepperstone encrypted client portal, thereby adjusting the leverage limit to 500x.
The upgrade process does not require special conditions, only the completion of an online questionnaire regarding trading experience. This service provides experienced traders with greater flexibility while ensuring controllable risk management.
For traders seeking high leverage, Pepperstone’s professional client service is undoubtedly a worthwhile option, but it is important to recognize the risks associated with high leverage. Reasonable choices should be made based on personal trading experience and risk tolerance.

Pepperstone Bonus Promotions

Pepperstone occasionally offers special bonus promotions.

As of March 20, 2025, Pepperstone is accepting participants for its “Active Trader Program” and is also running a “Refer a Friend” promotion.

Active Trader Program

Pepperstone’s Active Trader Program allows high-volume traders to enjoy commission rebates. Unlike other programs, Pepperstone calculates rebates daily and credits them directly to the trading account the day after positions are closed, improving capital flexibility.

This program’s rebates apply to forex trading, and participants must meet specified trading volume requirements within 3 months to maintain eligibility.

For full terms and conditions, please refer to the Pepperstone Official Website.

Trading Rebates and Tiers

※If the trading volume requirement for a certain tier is met within a trading month, the corresponding rebate will be granted.

※The rebate for commodities and indices applies to specific products; please refer to the official terms for the detailed list.

Trading Rebate Example

Assume a trader completes 500 lots of forex trading in one month, meeting the Tier 2 (second level) standard:

• $2 commission reduction per forex lot
• Index and commodity spreads can be reduced by 20%
• Meeting the trading volume requirement of just one product category is sufficient to obtain the rebate for that tier, it is not necessary to meet the thresholds for other categories simultaneously.

How to Join the Active Trader Program?

To join the Active Trader Program, you can contact Pepperstone through the following methods:

• Email: premium@pepperstone.com
• Contact your account manager

For professional traders, Pepperstone provides FIX API and other third-party trading platforms to meet different trading needs.

For more comprehensive solutions, you may discuss feasible options with the official team.

Friend Referral

Pepperstone has launched a Friend Referral Program, allowing you and your friends to earn exclusive rewards while trading.

Whether you are a retail client or a Pepperstone Pro client, you can participate in this program by referring friends.

How to Join the Referral Program?

Retail Clients

1. Refer your friends to Pepperstone.
2. When registering a trading account, your friend must fill in your email address in the “Referrer” field.
3. After successfully opening the account and completing the first deposit, both parties will receive 20 free trade rewards.

Pepperstone Pro Clients

1. Refer your friends to Pepperstone.
2. When registering a trading account, your friend must fill in your exclusive referral code in the “Referrer” field.
3. Your friend must meet the deposit and trading requirements, and both parties can receive up to $1,000 in rewards.

Please Note: If your friend does not fill in the referral information during registration, they will not be eligible for this program.

For more details, please visit Pepperstone Official Website.

Multi-Platform Trading and Technical Tools

Pepperstone supports mainstream platforms such as MetaTrader 4/5, cTrader, and TradingView, offering customized features.

MT4/MT5 are suitable for algorithmic trading and come with 28–38 built-in technical indicators; cTrader features an intuitive interface, ideal for beginners, and supports C# programming.

Additionally, the Smart Trader tool suite enhances market depth analysis and automated trading strategies. Below is a brief introduction to the features of each Pepperstone platform.

24-hour Trading of US Stock CFDs

Pepperstone offers US Stock Contracts for Difference (CFD) trading services, allowing investors to engage in leveraged trading of 37 major US stocks during extended trading hours, 24 hours a day, 5 days a week, covering pre-market, regular, after-hours, and overnight sessions.

This mechanism breaks the traditional limitation of US cash stock trading hours (Eastern Time 9:30-16:00), making it particularly suitable for responding to earnings releases, breaking news, or cross-time-zone trading needs.

For example, investors can take long or short positions on popular companies such as Apple, Tesla, and Amazon during non-regular trading hours and trade instruments with the “-24” suffix (e.g., AAPL.US-24).

Pepperstone’s Average Spread Overview for Financial Instruments

Pepperstone is renowned for its floating spreads starting from 0.0 pips (Razor account) and 30-millisecond execution speed. By directly connecting to 22 liquidity providers and the Electronic Communication Network (ECN), it ensures optimal pricing.

The Standard account has comparatively higher spreads (e.g., EUR/USD starting from 1.0 pips) but requires no commission. Below are the minimum and average spreads for various financial instruments.

Forex Currency Pairs

Pepperstone offers up to 92 available currency pairs, covering major pairs, minor pairs, cross pairs, exotic pairs, and NDFs.

※All spreads are generated based on data from January 7, 2024, to July 31, 2024, measured in pips.

CFDs and Other Financial Products

In addition to forex currency pairs, Pepperstone also allows traders to trade stocks, ETFs, indices, commodities, currency indices, index CFD dividends, stock CFD dividends, and CFD forwards.

For related spreads, please click here to view.

Pepperstone Deposits and Withdrawals

Pepperstone provides clients with a variety of fee-free deposit and withdrawal options to meet the needs of traders in different regions.

Clients can securely complete all deposit and withdrawal operations through the encrypted client portal, ensuring convenient and efficient fund management.

Please note that due to regulatory requirements and regional restrictions, certain deposit and withdrawal methods may not be available in specific regions.

Clients are advised to confirm the available options in their region before proceeding to ensure a smooth fund transfer.

※Actual arrival time may be adjusted due to bank or payment provider processing delays. It is recommended to refer to Pepperstone’s official announcements or contact customer service for confirmation.

Pepperstone Deposit Introduction

Pepperstone offers multiple convenient deposit methods, covering localized payment tools and internationally accepted channels.

The main options include: UnionPay online banking transfer (supports WeChat/Alipay), international credit/debit cards (Visa, MasterCard), cryptocurrency (USDT), and international wire transfer. It is recommended to operate on business days to avoid bank review delays, and for large deposits, locking in the exchange rate is advised to reduce volatility risks.

Pepperstone Withdrawal Method

Pepperstone’s withdrawal process emphasizes security and consistency, requiring the use of the same payment method as used for deposits.

In addition, frequent small-amount withdrawals may trigger risk control mechanisms, so it is recommended to plan withdrawal cycles reasonably.

※Withdrawals received before 21:00 (GMT) will be processed the following day. If received before 07:00 (Australian Eastern Standard Time), they will be processed on the same day.

Frequently Asked Questions

Q1. What account types does Pepperstone offer?

Pepperstone provides two main account types designed to meet different trading styles and needs. Below is a detailed introduction:

1. Razor Account: The Razor account uses a raw spread model, directly passing on the spreads provided by liquidity providers to clients, ensuring transparent and competitive trading costs. Additionally, when trading on the cTrader platform, the commission rate is calculated based on the trading currency rather than the account’s base currency. Specifically, the commission per lot is seven units of the first quoted currency in the trading pair. For example, when trading NZDCAD, the commission is 7 New Zealand dollars.
2. Standard Account: The Standard account operates on a commission-free model, where the spread structure is the raw spread plus 1 pip. For instance, if the raw spread is 0 pips, the actual spread will be 1 pip (with 0.5 pips added to both the bid and ask prices). This account type is suitable for traders who prefer a simplified fee structure.

 Pepperstone offers these two account types to give traders flexible options tailored to different trading strategies and   preferences.

Q2. What is a swap?

A swap is a commonly used derivative instrument in financial markets, primarily for hedging risks or conducting arbitrage operations. In forex trading, the swap rate refers to the interest paid or earned for holding overnight positions, commonly known as overnight interest or rollover interest. These rates are calculated based on interbank market spreads and the base interest rates of cross currencies and are dynamically adjusted according to market conditions.

Swap fees are two-sided, meaning traders may either earn or incur costs from them. The specific outcome depends on the characteristics of the trading instrument, the position direction (long or short), and whether the position is held during the rollover period. Since forex spot contracts are typically settled on a T+2 basis, triple swap fees are charged on Wednesdays to cover weekend interest costs. This mechanism ensures that the interest costs or earnings of market participants during the holding period of positions can be reasonably calculated and allocated.

Overall, swaps play a significant role in the forex market, providing traders with a tool for risk management while reflecting the impact of market interest rate changes.

Q3. Is Pepperstone an ECN/STP broker or a market maker?

Pepperstone’s operating model often raises discussions about whether it is an ECN/STP broker or a market maker. The complexity of this question lies in the fact that ECN and STP, as market terms, do not have fully unified definitions within the industry, and different institutions interpret them differently.
Essentially, true ECN or STP brokers are usually introducing brokers or institutions operating under white-label agreements, relying on third-party systems. However, as a product issuer, Pepperstone has full control over its own system and is committed to building direct relationships with clients. Nonetheless, Pepperstone can also be regarded as an “ECN” broker because it does not operate any proprietary trading accounts but instead obtains pricing from external liquidity providers through an electronic communication network and passes these prices directly to clients without dealing desk intervention.

In terms of risk management, Pepperstone does not hedge every single trade in order to avoid the secondary branch issue from affecting the stability of the primary branch. This approach is aimed at providing clients with higher price certainty and execution speed. At the same time, Pepperstone places great importance on risk management, continuously monitoring risk levels to ensure operational security.

Regarding the definition of a “market maker,” Pepperstone believes its core lies in operating a dealing desk and creating prices based on its own positions or risk exposure. Pepperstone currently does not adopt this model, so although it holds market-making authorization under the Australian Financial Services Licence (AFSL) (similar to other product issuers), it does not position itself as a market maker.

For further information, please contact support@pepperstone.com for more details.

Q4. What are Pepperstone’s trading conditions?

Pepperstone offers diversified trading conditions designed to achieve low trading costs and efficient execution for investors. Specific information can be found in the “Trade with Us” section on the platform, covering the types of financial instruments, swap rates, spreads and commission structures, as well as the features of different trading accounts. In addition, investors can refer to the “Product Disclosure Statement” and “Terms and Conditions” documents for more detailed information.

Q5. How to open an account?

To open a trading account, customers can visit the Pepperstone homepage and select the “Trading Account > Open a Trading Account” option. The entire application process takes approximately 5 to 10 minutes and can be completed entirely online.

During the application, the system will prompt you to complete an onboarding test and require you to upload identification documents. These documents can be submitted directly online with no additional steps required. Once submitted, the Pepperstone backend team will review the documents. After verification is complete, customers will receive their trading account login information and can start trading immediately.