What account types does Pepperstone offer?
Verdict
- Pepperstone offers two main retail account types: Standard (1.1-pip average on EUR/USD, no commission) and Razor (0.1-pip average plus commission); we recommend Razor for active traders and Standard for occasional ones.
- Around them sit Pro status (higher leverage, reduced protection), a swap-free account for residents of 23 countries, and spread betting for UK residents only.
- In the UAE, both accounts can be held in AED, start from $10, and run on MT5, cTrader and Pepperstone's own platform; MT4 and TradingView need Razor.
- Razor's commission depends on the platform: $3.00 per side on cTrader, $3.50 on MT5, TradingView and Pepperstone's platform, $7 per lot on MT4.
Pepperstone keeps its line-up short. The real choice for most traders is Standard versus Razor; the other options depend on where you live and how much you trade. Here is how they differ, with the UAE terms where they vary.
Two retail accounts: Standard and Razor
Both accounts give access to the same markets and the same execution; only the pricing model and some platform options differ. Standard folds its fee into the spread (a 1-point mark-up on FX), so there is no commission line. Razor passes on raw spreads and charges a fixed commission per lot, which works out cheaper on EUR/USD at Pepperstone's published averages: about $7 to $8 a round-turn lot against about $11 on Standard.
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Standard vs Razor in the UAE
| Standard | Razor | |
|---|---|---|
| EUR/USD average spread | 1.1 pips | 0.1 pips |
| GBP/USD average spread | 1.2 pips | 0.2 pips |
| Gold average spread | 0.19 | 0.12 |
| FX commission | None | From $3.00 per side (cTrader) |
| Platforms | Web and app, MT5, cTrader | Web and app, MT5, MT4, TradingView, cTrader |
| Base currencies | AED, USD, EUR, GBP, AUD | AED, USD, EUR, GBP, AUD |
| Minimum funding | $10 | $10 |
Razor commission by platform
Per standard lot on FX, for a USD account:
- cTrader: $3.00 per side, $6 round turn ($3.50 per side on XAU/USD).
- MT5, TradingView and the Pepperstone platform: $3.50 per side, $7 round turn.
- MT4: $7 per lot, charged when the position opens.
- Other account currencies have their own rates, for example EUR 2.60, GBP 2.25 and AUD 3.50 per side.
Other Pepperstone account options
- Pro: higher leverage (up to 1:500 on FX and gold on the UAE site) for clients who pass Pepperstone's tests; retail negative balance protection is replaced by a one-time protection of up to USD 100,000.
- Swap-free: for residents of 23 listed countries such as Kuwait, Qatar and Turkey; not the UAE or Saudi Arabia. Standard pricing, an admin charge after 5 days, and an AUD 200 minimum opening balance.
- Spread betting: for UK residents only, alongside UK Standard and Razor CFD accounts; UK clients can hold several account types at once.
Which account to choose
- Trade a few times a month and want simple costs? Standard.
- Trade daily, scalp or run an expert advisor? Razor, ideally on cTrader or MT5.
- Want to use MT4 or TradingView in the UAE? Razor is required.
- Need swap-free and live in the UAE? Pepperstone can't help; look at Capital.com or XS.
Sources
Pepperstone's account and pricing pages.
Does Pepperstone have a cent or micro account?
Our sources list no cent or micro account type; Pepperstone's retail accounts are Standard and Razor.
Is there an ECN account?
Pepperstone calls its raw-spread account Razor: raw spreads plus a commission per lot.
Can UAE residents open a spread betting account?
No. Spread betting is offered on Pepperstone's UK site for UK residents.
CFD trading is high risk: leverage can wipe out your money rapidly, and CFDs are complex products. Make sure you understand them and can absorb the loss before trading. This is general information, not investment advice; confirm every term on the broker's website first.