How do I change leverage on a Pepperstone Australia account?
Verdict
- On a Pepperstone Australia retail account the ceiling is set by ASIC rules, not by you: up to 1:30 on major FX, 1:20 on major indices and gold, 1:5 on shares and 1:2 on bitcoin and ether. Going above that means qualifying for a Pro (wholesale) account.
- The Australian pages we verified do not publish a step-by-step for changing the account's leverage setting, so ask Pepperstone support (1300 033 375) whether yours can be lowered and how.
- Whatever the account maximum, the leverage you actually use is set by position size against equity, and that is in your hands on every trade.
- Pro status raises the caps (up to 1:500 on major FX) but replaces full negative balance protection with a one-time cover of up to USD 100,000.
People mean three different things by changing leverage: lowering the account's cap, raising it above retail limits, or simply using less of it. Pepperstone treats each differently, and only the third is entirely up to you.
What you can change, and what ASIC fixes
Pepperstone Group Limited holds AFSL 414530 and must apply ASIC's retail leverage limits to every retail client. They are maximums per asset class, so no account setting can lift them. Pepperstone stays our top pick for Australian CFD traders regardless: the caps are identical at every ASIC-licensed broker, and Pepperstone pairs them with a $10 minimum deposit and a published Razor average of 0.1 pips on EUR/USD.
| Asset class | Retail | Pro |
|---|---|---|
| Major FX | 1:30 | 1:500 |
| Minor FX | 1:20 | 1:500 |
| Major indices | 1:20 | 1:400 |
| Gold | 1:20 | 1:500 |
| Energy | 1:10 | 1:20 |
| Shares and ETFs | 1:5 | 1:20 |
| BTCUSD and ETHUSD | 1:2 | 1:10 |
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Lowering your leverage
If you want a lower cap than the retail maximum, say as a guard against oversizing, Pepperstone's verified pages do not say whether you can set it yourself in the client area. Contact support on 1300 033 375 (or +613 9020 0155 from overseas) and ask three things: whether a lower account leverage is available, which platforms it applies to, and whether it changes the margin on positions you already hold.
Using less leverage without touching any setting
Effective leverage is the value of your open positions divided by your account equity. Sizing down is the fastest and most reliable way to trade with less of it. Take USD/JPY, where one standard lot is $100,000 of exposure, and an account with $5,000 equity:
- One 0.1-lot position ($10,000 exposure): effective leverage 2:1.
- One 0.5-lot position ($50,000): 10:1.
- 1.5 lots ($150,000) would be 30:1, the retail ceiling on a major pair, and would tie up the full $5,000 as margin, leaving nothing to absorb a loss.
Raising leverage: the Pro route
Higher limits come only with wholesale status. Pepperstone accepts sophisticated investors who pass a knowledge quiz and show either 20 or more leveraged FX or CFD trades a quarter, each at least AUD 50,000 notional, over four quarters in the past two years, or a year or more in a professional trading role. The alternative is the wealth test: net assets of AUD 2.5 million, or gross income of AUD 250,000 a year for two years, certified by a qualified accountant under s761G(7) of the Corporations Act. The cost is protection: retail balances that go negative are restored to zero, while Pro clients get a one-time cover of up to USD 100,000.
Is it any different at Capital.com?
No. Capital Com Australia Pty Ltd publishes the same ASIC retail structure: 30:1 on major FX, 20:1 on major indices and gold, 5:1 on shares and 2:1 on crypto. Whichever ASIC-licensed broker you use, higher retail leverage is not on offer.
Sources
Leverage tables and Pro criteria as published.
Can I get 1:500 on a Pepperstone Australia retail account?
No. Retail accounts are capped at 1:30 on major FX; 1:500 appears only in the Pro column.
Does lower leverage cut my trading costs?
No. Spread, commission and swap are charged on position size. Leverage only changes how much margin a position ties up.
Why do Pepperstone's pages show different Pro figures?
The costs table lists 1:400 on major indices while the accounts page summarises Pro as 500:1. Go by the per-instrument table and confirm in your platform before trading.
Margin trading in CFDs is complex and can lose you money fast. Weigh the risk against your circumstances before you start. This page does not give investment advice, and the published terms of Pepperstone and other brokers may change after our update.