Which brokers offer 500:1 leverage to pro traders in Australia?
Verdict
- Pepperstone does: its Australian pro clients can use up to 500:1 on major and minor FX pairs and on gold, and it is the broker we recommend for this.
- 500:1 isn't across the board. Pepperstone's pro table gives major indices 400:1, shares and ETFs 20:1, energy 20:1 and BTC/USD 10:1.
- We could not confirm 500:1 pro leverage at another ASIC-licensed broker from the material we checked; the 500:1-plus figures we found belong to companies outside Australia or are group-wide.
- Retail clients remain capped at 30:1 on major FX.
Short answer: Pepperstone Group Limited (AFSL 414530) offers 500:1 to wholesale clients on the markets where it matters most to FX and gold traders. The useful detail is where that figure stops, what it does to your margin, and why the headline numbers on other brokers' international sites don't apply to an Australian account.
Where Pepperstone's 500:1 applies
The leverage table on Pepperstone's Australian costs page sets the pro maximum asset by asset. Its accounts page summarises this as 'Retail 30:1 · Pro 500:1', but the full table is the one to read:
| Market | Retail | Pro |
|---|---|---|
| Major and minor FX | 1:30 / 1:20 | 1:500 |
| Gold | 1:20 | 1:500 |
| Major indices | 1:20 | 1:400 |
| Minor indices | 1:10 | 1:100 |
| Energy | 1:10 | 1:20 |
| Soft commodities | 1:10 | 1:50 |
| Other metals | 1:10 | 1:10 |
| Shares and ETFs | 1:5 | 1:20 |
| BTC/USD, ETH/USD | 1:2 | 1:10 |
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What 500:1 does to your margin
Take a A$50,000 AUD/USD position. At 500:1 the broker holds A$100 as margin; at the retail cap of 30:1 it holds about A$1,667. Your profit or loss per pip is identical in both cases. The difference is how little has to go wrong: at 500:1, a 0.2% move against you equals the entire margin on that trade, while at 30:1 it takes a move of about 3.3%. Anything beyond the posted margin is drawn from the rest of your balance and, at Pepperstone, a pro account has only a one-time negative-balance cover of up to USD 100,000 if the balance goes below zero.
Who else shows 500:1, and why it may not apply to you
Several firms print 500:1 or more, but in the material we checked none of these figures belongs to an Australian pro account:
- IC Markets: up to 1:5000 on FX majors, tiered down through 1:500, published for Raw Trading Ltd, its Seychelles company. Its Australian licensee is a separate company under AFSL 335692.
- FP Markets: 'up to 1:500' published as a group-wide figure with no breakdown by company, so it doesn't tell you what its ASIC entity gives wholesale clients.
- Capital.com: 500:1 on 15 listed FX majors appears only for its UAE company. Capital Com Australia Pty Ltd shows retail limits of 30:1 on major FX, and its pro terms weren't in our data.
- Tickmill: 'Professional 1:500' is listed for Tickmill Europe, its Cyprus company, not for Australia.
Before you apply for 500:1
- You'll need to pass a wholesale test: Pepperstone's sophisticated-investor route (trading record or work history, plus a quiz) or the accountant-certified wealth test.
- Ask which figure governs crypto: Pepperstone's crypto spreads page shows a pro-only 400:1 tier on the first $50k, which conflicts with the 10:1 in its main table.
- Size positions on the stop you can afford to hit, not on the margin the broker lets you post.
Sources
Can retail traders in Australia get 500:1 leverage?
Not with an ASIC-licensed broker. At Pepperstone the retail maximum is 30:1 on major FX; 500:1 needs pro (wholesale) status.
Is 500:1 available on indices at Pepperstone?
No. Pro clients get up to 400:1 on major indices and 100:1 on minor indices.
Does Pepperstone offer 500:1 on Bitcoin?
Its main Australian leverage table lists 10:1 on BTC/USD for pros, while a separate crypto page mentions a 400:1 pro tier. Ask Pepperstone which applies to your account.
Does higher leverage mean lower trading costs?
No. Leverage changes the margin you post, not the spread or commission on the trade.
Leveraged CFDs carry a high risk of rapid losses, and at 500:1 small price moves can wipe out your margin. Pro clients have reduced protections. This page is general information, not investment advice.