Pepperstone review
Pepperstone has the best platform line-up and some of the lowest costs on our radar, and its Kenyan entity accepts M-Pesa. It doesn't offer African-currency accounts, so you'll pay conversion on deposits.
#3 of 10
Score breakdown
Calculated automatically from the facts on this page. How we score.
Pros and cons
What we like
- Five platforms incl. cTrader and TradingView
- Very low Razor costs
- $0 minimum
- 24/7 support
Watch out for
- No ZAR, KES or NGN accounts
- No FSCA licence for South Africans
- Kenya leverage capped at 1:400
Licences — verify them yourself
| Regulator | Entity | Licence | |
|---|---|---|---|
| CMA Kenya | Pepperstone Markets Kenya Ltd | Licence 128 | Verify on register ↗ |
| ASIC Australia | Pepperstone Group Ltd | See register | Verify on register ↗ |
| FCA United Kingdom | Pepperstone Ltd | See register | Verify on register ↗ |
| CySEC Cyprus | Pepperstone EU Ltd | See register | Verify on register ↗ |
Search the entity name or licence number on the regulator's own site. If they don't match exactly, don't deposit.
Accounts and costs
| Account | Min deposit | EUR/USD spread | Commission |
|---|---|---|---|
| Standard | $0 | ~0.77 pips avg | None |
| Razor | $0 | ~0.10 pips avg | $3.50/side MT · $3/side cTrader |
Standard (spread-only) and Razor (raw + commission) accounts across five platforms, plus copy trading.
Deposits and withdrawals
- Payment methods
- M-Pesa (KE) · Bank transfer · Visa / Mastercard · PayPal
- Withdrawals
- Processed same day; arrival depends on method
- Deposit currencies
- USD, EUR, GBP, AUD, + more
- African-currency accounts
- None
Platforms and markets
- Platforms
- MT4, MT5, cTrader, TradingView, Pepperstone app
- Execution
- No dealing desk
- Instruments
- 1,200+ — FX, indices, commodities, shares, ETFs, crypto
- Currency pairs
- 90+ currency pairs
- Copy trading
- Yes
- Islamic accounts
- Yes
Support
24/7 · live chat, phone, email
FAQ
Is Pepperstone regulated in South Africa?
No. Pepperstone has no FSCA licence, so South Africans are served by an offshore entity with weaker protection.
Is Pepperstone regulated in Kenya?
Yes. Pepperstone Markets Kenya Ltd holds a CMA licence (Licence 128). Leverage for Kenyan clients is capped at 1:400.
Is Pepperstone regulated in Nigeria?
No broker is licensed for online forex by SEC Nigeria yet. The SEC published draft rules in September 2026; until they take effect, Nigerians trade with offshore entities.
What is the minimum deposit at Pepperstone?
$0. Payment methods can set their own minimums.
Can I deposit with M-Pesa?
Yes. M-Pesa is supported for Kenyan clients.
Which platforms does Pepperstone offer?
MT4, MT5, cTrader, TradingView, Pepperstone app.
How is the 7.6/10 score calculated?
From five weighted factors — regulation 30%, costs 20%, funding in Africa 20%, platforms 15%, support 15% — applied to the facts on this page. See "How we score" on our About page.
Sources: FXScouts Kenya ↗FX News Group ↗ · Last checked Oct 2026