Pepperstone FCA license details
Pepperstone Limited is authorized and regulated by the FCA under firm reference number (FRN) 684312. The FCA is a Tier 1 regulator, the strictest level in our rating system.
You can look up the FRN on the FCA’s public register to confirm the license. Always verify that the firm name on the register matches the entity named in your client agreement.
| Detail | Pepperstone FCA entity |
|---|---|
| Entity | Pepperstone Limited |
| Regulator | Financial Conduct Authority (FCA) |
| Firm reference number | 684312 |
| Country | United Kingdom |
| Retail leverage (major forex) | Up to 1:30 |
| Compensation scheme | FSCS, up to GBP 85,000 |
| Retail risk warning | 72.9% of retail investor accounts lose money |
What FCA regulation means for Pepperstone clients
Under the FCA, Pepperstone keeps retail client funds in segregated bank accounts, separate from its own funds. Retail clients also receive negative balance protection, so their accounts cannot fall below zero, and leverage is capped at 1:30 on major forex pairs.
These rules limit how much a retail trader can lose, but they do not eliminate trading risk. 72.9% of retail investor accounts lose money when trading CFDs with this provider.
Pepperstone FSCS protection
If Pepperstone Limited failed, eligible UK clients could claim up to GBP 85,000 from the Financial Services Compensation Scheme for any shortfall in their segregated funds.
FSCS coverage applies only to clients of the FCA entity. Clients served by other Pepperstone entities, such as the Bahamas entity, are not covered by the FSCS.
Who Pepperstone's FCA entity serves
Pepperstone Limited serves clients residing in the United Kingdom. Clients in other countries are served by other Pepperstone entities, depending on their location.
The UK site is not intended for residents of Belgium or the United States. Professional clients served by the FCA entity lose certain retail protections, including guaranteed negative balance protection.
Bottom Line
Pepperstone’s FCA license provides UK clients with the strongest protection in the group, including segregated funds, negative balance protection, and FSCS cover up to GBP 85,000. In our assessment, the FCA entity is one of the safest ways to trade with Pepperstone. Clients should still verify the FCA register using FRN 684312 before depositing.