Pepperstone
Best overall: low raw-account costs, top-tier regulation and every major platform
WizardTrader score
92
/100
CFDs are complex and carry a high risk of losing money rapidly due to leverage. Check the broker's own retail loss disclosure.
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Before you sign up
Key facts
Regulators
ASIC (AFSL 414530), FCA (684312), CySEC (388/20), DFSA (F004356), SCB Bahamas (SIA-F217)
EUR/USD cost
Razor avg 0.1 pips + $7 RT; Standard avg 1.1 pips (Aug 2026)
Minimum deposit
$0
Platforms
MT4, MT5, cTrader, TradingView, Pepperstone platform
Max leverage
30:1 retail (ASIC/FCA/CySEC); higher via offshore entity
Founded and headquarters
2010, Melbourne, Australia
Pros
- Published average spreads: 0.1 pips on Razor EUR/USD
- Licensed by ASIC, FCA, CySEC and DFSA
- MT4, MT5, cTrader and TradingView all supported
- No minimum deposit
Cons
- Not available to US residents
- Global sign-ups may be placed with the offshore Bahamas entity
- Instrument count not published
Our review
Pepperstone scores highest in our methodology because it combines top-tier regulation with some of the lowest published trading costs. Its Razor account averaged 0.1 pips on EUR/USD in August 2026, plus $7 round-turn commission on MT4/MT5 ($6 on cTrader).
Check which entity you're signing up with: clients in the UK, EU and Australia are covered by their local regulator and 30:1 leverage caps, while some international clients are onboarded through the Bahamas entity with fewer protections.
Score breakdown: Regulation 33/35, Costs 23/25, Platforms 15/15, Access 8/10, Track record 13/15.