A Detailed Introduction to Pepperstone and Rebate Overview

Cashback Island offers Pepperstone rebate services to clients.

As an IB (Introducing Broker), when Cashback Island introduces clients to Pepperstone, Pepperstone rewards the IB based on the clients’ trading volume. The IB then shares a portion of this reward with the clients, which is known as a rebate.

Every time a client trades using a Pepperstone account opened through Cashback Island, they will receive a rebate.

The process of opening a rebate account is the same as opening a regular account—just a simple user registration is needed!

Save money on your overseas forex trading by using our rebate service!

Pepperstone Rebate Details

Pepperstone rebates can go up to 0.4 pips. If a client’s trading volume meets specific criteria, higher-tier rebates can be negotiated, effectively reducing overall trading costs.

For users who register through our exclusive link, all other trading costs (including spreads, commissions, etc.) are identical to the official rates, with no extra fees, in addition to the rebate benefits.

This mechanism ensures that investors receive additional benefits while their trading environment remains identical to the official standards.

Below are the rebate amounts for various trading instruments at Pepperstone.

How to Open a Rebate Account

To open a rebate account, please follow these four steps.

1. Open a live Pepperstone account through our IB link
2. Register and log in to our rebate backend (for specific registration instructions, please click here)
3. Go to the user page and register using the 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 live Pepperstone account now.

Open a New Trading Account

Introduction to Pepperstone

Pepperstone is a leading global online trading broker founded in 2010, headquartered in Melbourne, Australia, with branches in London, Cyprus, Dubai, Kenya, and other locations.

Since its inception, the company has risen rapidly with its technology-driven innovative services and low-cost trading environment. It currently has an average daily trading volume of over $12.5 billion and has served over 400,000 retail trading accounts in more than 170 countries.

In 2022, Pepperstone was named “Best Forex Broker” and “Best MetaTrader Platform Provider,” highlighting its industry leadership.

Company Background

Pepperstone was founded by Owen Kerr and Joe Davenport, with a core team of seasoned experts in fintech and market trading.

Leveraging a 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 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 company details.

Fund Security

In addition to being regulated by ASIC, SCB, CMA, CySEC, FCA, BaFin, and DFSA, Pepperstone holds all client funds in segregated bank accounts, completely separate from the company’s operational funds. These funds are custodied by top-tier institutions like Standard Chartered and Barclays, ensuring client assets are protected even if the company faces financial risks.

Furthermore, the platform employs SSL encryption, 2FA (Two-Factor Authentication), undergoes regular third-party audits, and incorporates a negative balance protection mechanism to comprehensively guard against trading risks.

Pepperstone Platform Features and Trading Conditions

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

• Multiple Regulations and Fund Security
• Up to 500x Leverage
• Over 1,200 Trading Instruments
• Floating Spreads from 0.0 pips
• 30ms Execution Speed
• Multi-Platform Trading and Technical Tools
• 24/7 Customer Support and Educational Resources

Pepperstone Account Types

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

These are the Standard account, which has simple spreads and no commissions, and the Razor account, which offers low trading costs with raw spreads and commissions.

Up to 500x Leverage

Pepperstone offers traders in regions like Taiwan, Hong Kong, and Malaysia leverage of up to 500x, which is among the highest levels offered by forex brokers.

However, it’s important to note that Pepperstone categorizes clients into Retail and Professional, with significant differences in leverage limits and margin call levels: Retail clients have a maximum leverage of 200x, while Professional clients can enjoy up to 500x leverage.

All clients are defaulted to Retail status upon opening an account, but traders can apply to upgrade to a Professional account (Pepperstone Pro) through the secure client area to increase their leverage limit to 500x.

The upgrade process requires no special conditions, only the completion of an online questionnaire about trading experience. This service offers experienced traders greater flexibility while ensuring manageable risk control.

For traders seeking high leverage, Pepperstone’s professional client service is undoubtedly a worthwhile option, but it’s crucial to be aware of the risks associated with high leverage. It is recommended to choose a leverage level based on your trading experience and risk tolerance.

Pepperstone Bonus Promotions

Pepperstone offers special bonus promotions from time to time.

As of August 18, 2025, Pepperstone is accepting participants for its “Active Trader Program” and is also running a “Refer a Friend” campaign.

Active Trader Program

Pepperstone’s Active Trader Program allows high-volume clients to enjoy commission discounts. Unlike other programs, Pepperstone’s discounts are calculated daily and credited directly to the trading account the day after a position is closed, enhancing capital flexibility.

This program’s discounts apply to forex trades, and participants must meet specified trading volume requirements over a 3-month period to maintain their eligibility.

For the 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, you will receive the corresponding discount.

※Discounts for commodities and indices apply to specific products. A detailed list can be found in the official terms.

Trading Discount Example

Suppose a trader completes 500 lots of forex trades in a month, meeting the Tier 2 criteria:

• A $2 commission reduction per lot on forex trades.
• A 20% reduction in spreads for indices and commodities.
• You only need to meet the trading volume requirement for one product category to receive the discount for that tier; you do not need 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: [email protected]
• Contact your account manager.

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

For more comprehensive solutions, you can discuss viable options with the official team.

Refer a Friend

Pepperstone has a Refer a Friend program that allows 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 promotion by referring friends.

How to Participate in the Referral Program

Retail Clients

1. Refer your friend at Pepperstone.
2. Your friend must enter your email address in the “Referrer” field when registering for a trading account.
3. After successfully opening an account and making the first deposit, both parties will receive 20 free trades as a reward.

Pepperstone Pro Clients

1. Refer your friend at Pepperstone.
2. Your friend must enter your unique referral code in the “Referrer” field when registering for a trading account.
3. Once your friend meets the deposit and trading requirements, both parties can receive a reward of up to $1,000.

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

For more details, please refer to the Pepperstone official website.

Multi-Platform Trading and Technical Tools

Pepperstone supports major platforms like MetaTrader 4/5, cTrader, and TradingView, and offers customizable features.

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

Additionally, the Smart Trader tool suite is available to enhance market depth analysis and automated trading strategies. Here is a brief introduction to the features of each of Pepperstone’s platforms.

24-Hour Trading on US Stock CFDs

Pepperstone’s US stock CFD trading service allows investors to participate in leveraged trading of 37 major US stocks during extended 24/5 trading sessions, covering pre-market, regular, after-hours, and overnight sessions.

This mechanism breaks the limitations of traditional US stock trading hours (9:30 AM – 4:00 PM EST), making it particularly suitable for reacting to earnings releases, breaking news, or trading across different time zones.

For example, investors can take long or short positions on the price fluctuations of popular companies like Apple, Tesla, and Amazon during non-standard trading hours by using trading symbols with a “-24” suffix (e.g., AAPL.US-24).

Pepperstone Financial Products Average Spreads Overview

Pepperstone is known for its floating spreads from 0.0 pips (Razor account) and 30ms execution speed. By connecting directly to 22 liquidity providers and an Electronic Communication Network (ECN), it ensures the best possible quotes.

The Standard account has higher spreads (e.g., EUR/USD from 1.0 pips) but does not charge commissions. Below are the minimum and average spreads for various financial products.

Forex Currency Pairs

Pepperstone offers up to 92 available currency pairs, covering major pairs, minor pairs, crosses, exotics, and NDFs.

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

CFDs and Other Financial Products

In addition to forex currency pairs, Pepperstone 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 offers clients a variety of fee-free deposit and withdrawal options to meet the needs of traders from different regions.

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

It is important to note that due to regulatory requirements and regional restrictions, some deposit and withdrawal methods may not be available in certain areas.

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

※Actual processing times may vary due to delays from banks or payment providers. It is recommended to refer to Pepperstone’s official announcements or contact customer service for confirmation.

Pepperstone Deposit Information

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

The main options include: UnionPay bank transfer (supporting WeChat/Alipay), international credit/debit cards (Visa, MasterCard), cryptocurrency (USDT), and international wire transfers. It is recommended to conduct transactions on business days to avoid bank processing delays, and a reminder that large deposits should have their exchange rates locked to reduce fluctuation risks.

Pepperstone Withdrawal Information

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

Additionally, frequent small withdrawals may trigger risk control mechanisms, so it is advisable to plan your fund withdrawal cycles reasonably.

※Withdrawals received before 21:00 (GMT) will be processed the next day. If received before 07:00 (AEST), they will be processed on the same day.

Frequently Asked Questions

Q1. What account types does Pepperstone offer?

Pepperstone offers two main account types for traders, designed to meet different trading styles and needs. Here is a detailed introduction:

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

 Through these two account types, Pepperstone provides traders with flexible options to suit different trading strategies and preferences.

Q2. What is a swap?

A swap is a common derivative instrument in financial markets, primarily used for hedging risks or arbitrage. In forex trading, the swap rate refers to the interest paid or earned for holding a position overnight, often called overnight interest or rollover interest. The calculation of these rates is based on interbank market spreads and the base interest rates of the cross-currency pairs, and they are dynamically adjusted according to market conditions.

 Swap fees are bidirectional, meaning a trader can either profit from them or incur a cost. The specific outcome depends on the characteristics of the trading instrument, the position direction (long or short), and whether the position is held over the rollover period. Since spot forex contracts typically settle on a T+2 basis, a triple swap fee is charged on Wednesdays to cover the interest costs over the weekend. This mechanism ensures that the interest costs or gains for market participants holding positions are reasonably calculated and allocated.

 Overall, as a financial instrument, swaps play an important role in the forex market, providing traders with risk management tools and reflecting the impact of market interest rate changes.

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

Pepperstone’s operational model often sparks discussions about whether it is an ECN/STP broker or a market maker. The complexity of this issue lies in the fact that ECN and STP are market terms with no universally agreed-upon definitions, and different institutions interpret them differently.

 Essentially, a true ECN or STP broker is typically an introducing broker or an institution operating under a white-label agreement, relying on third-party systems. However, as a product issuer, Pepperstone has full control over its own systems and is committed to building direct relationships with its clients. Nevertheless, Pepperstone can be considered an “ECN” broker because it does not operate any proprietary trading accounts. Instead, it sources pricing from external liquidity providers through an electronic communication network and passes these prices directly to clients without the intervention of a dealing desk.

In terms of risk management, Pepperstone does not hedge every trade to avoid stability issues in one branch affecting another. This practice aims to provide clients with greater price certainty and execution speed. At the same time, Pepperstone places a high value 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 does not currently use this model. Therefore, although it holds a market-making authorization under its Australian Financial Services License (AFSL) (the same as other product issuers), it does not position itself as a market maker.

 For further information, you can contact [email protected] for more details.

Q4. What are Pepperstone’s trading conditions?

Pepperstone offers a diverse range of trading conditions aimed at providing investors with low trading costs and efficient execution. Specific information can be found in the “Trade with Us” section on the platform, which covers types of financial instruments, swap rates, spread and commission structures, and the features of different trading accounts. Additionally, investors can refer to the Product Disclosure Statement and Terms and Conditions documents for more detailed information.

Q5. How do I open an account?

To open a live account, clients can go to the Pepperstone homepage and select the “Live Account > Open a Live Account” option. The entire application process takes about 5 to 10 minutes and can be completed entirely online.

 During the application process, you will be prompted to complete an onboarding quiz and upload identity verification documents. These documents can be submitted directly online without any extra steps. After submission, the Pepperstone back-office team will review them. Once the documents are verified, the client will receive their trading account login information and can start trading.