Pepperstone account types compared
Pepperstone's Standard and Razor accounts differ in two ways: how you pay for trades and which platforms you can use. Everything else is the same, including the instruments, the minimum deposit, the ten base currencies, and the right to hedge.
You can hold both account types under one client profile, so you do not have to choose one permanently.
| Feature | Standard | Razor |
|---|---|---|
| EUR/USD spread from | 1.0 pips | 0.0 pips |
| Average EUR/USD spread | 1.1 pips | 0.1 pips |
| Forex commission | None | $6 per round turn on cTrader, $7 on other platforms |
| All-in cost, 1 lot EUR/USD | About $11 | About $7 (cTrader) to $8 |
| Platforms | Pepperstone platform, MT4, MT5, cTrader | All five, including TradingView |
| Minimum deposit | $10 ($0 by bank wire) | $10 ($0 by bank wire) |
| Swap-free version | Yes, in selected countries | No |
Pepperstone Standard account
The Pepperstone Standard account offers EUR/USD spreads from 1.0 pips, averaging 1.1 pips, with no forex commissions. It is available on the Pepperstone platform, MT4, MT5, and cTrader, and requires a $10 minimum deposit, or no minimum with bank wire.
The Standard account is the simplest to cost because the spread reflects the entire trading cost. At about $11 per standard lot on EUR/USD, it costs more than Razor for regular traders and cannot be used with TradingView. It suits beginners and traders who place only a few trades a month.
Pepperstone Razor account
The Pepperstone Razor account offers raw EUR/USD spreads from 0.0 pips, averaging 0.1 pips, plus a fixed commission. The commission is $6 per round turn (opening and closing one standard lot) on cTrader and $7 on MT4, MT5, TradingView, and the Pepperstone platform. On MT4 and MT5 accounts in other currencies, the commission is GBP 4.50, EUR 5.20, or CHF 6.60.
The Razor account brings the all-in cost of a 1-lot EUR/USD trade down to about $7 on cTrader and $8 on other platforms. Commission also applies to spot gold. If you trade more than a handful of times per month, we recommend the Razor account, with cTrader as the lowest-cost platform.
Pepperstone swap-free account
The Pepperstone swap-free account is a version of the Standard account for traders who cannot pay or receive overnight interest. It is available in select countries and does not charge swaps.
Instead of swaps, forex and precious metals positions held for 5 days or more incur a $100 per-lot administration fee, charged every 5 days. Positions closed within 4 days incur no fee, making the account best suited for short-term traders.
Pepperstone Pro account
Pepperstone Pro is for traders who meet two of three criteria: experience trading leveraged products, cash and portfolio holdings above $500,000, and professional experience in financial services. Pro clients receive leverage of up to 1:500 on major forex pairs and access to volume rebates of up to $3 per lot through the Active Trader program.
Pro status removes retail protections, including guaranteed negative balance protection, so losses can exceed the account balance. Pro clients under the Bahamas entity also face a lower 20% stop-out on MT4 and MT5 and may qualify for one-off protection of up to $100,000.
Which Pepperstone account is best for you?
The right Pepperstone account depends mainly on how often you trade and which platform you use.
- Choose the Razor account if you trade several times a month, scalp or day trade, or want the lowest-cost access to TradingView or cTrader.
- Choose the Standard account if you trade occasionally and prefer a single per-trade cost with no commission line.
- Choose the swap-free account if you cannot pay or receive overnight interest and live in a country where it is offered.
- Choose the Pro account if you meet the eligibility requirements, need higher leverage, and accept the loss of retail protections.
Bottom Line
Pepperstone keeps its account range simple, with a $10 minimum across both retail accounts and the same instruments on each. In our assessment, the Razor account offers better value for most traders, especially on cTrader. The Standard account suits beginners who want a single cost per trade, but it costs more and is not compatible with TradingView.