Pepperstone Razor vs Standard account, which is better?
Verdict
- Pepperstone's Razor account is the better choice if you trade forex regularly: at published EUR/USD averages a lot costs about $8 round trip on MT5 or $7 on cTrader, against $11 on Standard.
- For index CFDs such as HK50 the two accounts cost the same, and on gold the published averages put them roughly level.
- Razor adds TradingView; on Pepperstone's international site both accounts get MT4, MT5, cTrader and the Pepperstone app.
- With an HKD account, Razor commission is HK$28.17 per side per lot.
Razor separates the cost into a raw spread plus commission; Standard folds everything into a wider spread. Which is cheaper depends on what you trade and on which platform. Here is the comparison by instrument, using Pepperstone's published averages.
The verdict by trader type
Pick Razor if forex is a meaningful part of your trading: the 1-pip difference in average EUR/USD spread is worth $10 per lot, and the commission is $7 on MT5 or $6 on cTrader, so Razor saves $3 to $4 every lot. It is also the only account with TradingView. Pick Standard if you mostly trade indices, or prefer one number per trade: index CFDs carry no commission and the same spread on both accounts, and there is no commission to track. Both start at $10 and both are offered to Hong Kong clients by Pepperstone Markets Limited, regulated in the Bahamas (SIA-F217), without an SFC licence.
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Round-trip cost per lot, instrument by instrument
| Instrument | Razor | Standard | Cheaper |
|---|---|---|---|
| EUR/USD | 0.1 pip ($1) + $7 = $8 | 1.1 pips = $11 | Razor by $3 |
| GBP/USD | 0.2 pip ($2) + $7 = $9 | 1.2 pips = $12 | Razor by $3 |
| Gold, per 100 oz | 0.12 ($12) + $7 = $19 | 0.19 = $19 | Level |
| HK50 | 5 points, no commission | 5 points, no commission | Level |
| HK share CFDs | 0.2% per side | 0.2% per side | Level |
Platform and commission details
- MT4 charges the Razor commission as $7 per lot when the position opens; MT5, TradingView and the Pepperstone app charge $3.50 per side.
- cTrader charges $3.00 per side on FX ($6 round trip) but $3.50 per side on XAU/USD.
- Account currency changes the figure: HK$28.17 per side in HKD, SGD 4.55, EUR 2.60, GBP 2.25.
- TradingView is Razor-only; MT4, MT5, cTrader and the app are on both accounts on the international site.
- The gold row assumes a 100-ounce lot; confirm the contract size in your platform.
How the saving scales
Trade 20 standard lots of EUR/USD a month and Razor saves about $60 on MT5 or $80 on cTrader compared with Standard, at average spreads. At two lots a month the saving is $6 to $8, small enough that Standard's simplicity may be worth more.
Sources
Pepperstone's published spreads, commissions and account pages.
Is Razor or Standard better for beginners?
Standard is easier to read because the spread is the whole cost. Move to Razor once you trade forex often enough for the $3 to $4 saving per lot to add up.
Does Razor have a higher minimum deposit?
No. Pepperstone's minimum is $10 or the local equivalent for both accounts.
Which account is better for scalping?
Razor. Tight raw spreads matter most when you trade often and take small moves, and cTrader's $3.00 per side makes it cheaper still on forex.
Can I use TradingView on Standard?
No. On Pepperstone's international site TradingView is offered with Razor only.
Spreads are published averages and change with market conditions. CFD trading is leveraged and high risk, and you may lose money quickly. Not investment advice.