Pepperstone Review

Overall, Pepperstone is very competitive in terms of its trading fees and spreads. Pepperstone is considered low-risk and is regulated by ASIC, BaFin, CMA, CySEC, DFSA, FCA, and SCB. Pepperstone has an overall Trust Score of 92% out of 100

Updated : February 13, 2023

Jump to:

Regulation and Safety of Funds

Account Types and Features

Account Registration

Trading Platforms

Range of Markets


Deposits and Withdrawals

Education and Research

Affiliate Program

Final Verdict

Pros and Cons


Overall Rating

Min Deposit

200 USD / 21 7071 RWF



Trading Desk

MetaTrader 4, MetaTrader 5, cTrader and TradeView


Yes (Not available in Africa)

Total Pairs


Islamic Account


Trading Fees


Account Activation Time

24 Hours

Pepperstone Overview

Pepperstone Review Overview

👉 Overall, Pepperstone is considered low-risk, with an overall Trust Score of 92 out of 100. Pepperstone is licensed by three Tier-1 Regulators (high trust), three Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust). Pepperstone offers two different retail trading accounts namely a Standard Account and a Razor Account.


👉 Pepperstone was established in 2010 and is one of the world’s major forex and CFD brokers and trading platforms. Pepperstone provides support for several social copy trading platforms, a high-quality research section, and a variety of tradeable marketplaces that are always expanding.


👉 Pepperstone also provides MetaTrader as well as cTrader and TradingView (leading to the broker winning the Best in Class for MetaTrader brokers in 2023), and the immense variety of third-party tools and plugins that are available adds to the already remarkable array of trading platforms that are offered by the company.


👉 Pepperstone provides retail and professional traders from all over the world access to all markets through strong, yet user-friendly platforms that include the latest technology, cheap fees, low-latency high-speed execution, and award-winning customer support.


👉 This Pepperstone review for Rwanda will provide local retail traders with the details that they need to consider whether Pepperstone is suited to their unique trading objectives and needs.


👉 Pepperstone accepts Rwandan clients and has an average spread from 0.0 pips with AU$7 commission round turn. Pepperstone has a maximum leverage ratio up to 1:400 (Retail) and 1:500 (Pro), and there is a demo and Islamic account available.


👉 MT4, MT5, cTrader, TradingView, Myfxbook, and DupliTrade platforms are supported. Pepperstone is headquartered in Australia and regulated by ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB.

Pepperstone Distribution of Traders

Pepperstone Review Distribution of Traders

👉 Pepperstone currently has the largest market share in these countries:

➡️ Mongolia – 11.1%

➡️ Australia – 9.6%

➡️ Mexico – 7.4%

➡️ United Kingdom – 7.5%

➡️ Brazil – 5.4%


Popularity among traders who choose Pepperstone

🥇 Pepperstone has a market share of less than 5% in Rwanda. However, despite this, it is a viable option that can be used by Rwandan traders, making it one of the Top 40 brokers in the region.

Pepperstone at a Glance

🏙 HeadquarteredMelbourne, Australia with offices globally
🏛 Global OfficesAustralia, UK, Germany, Bahamas, Dubai, Kenya, Cyprus
💻 Local Market Regulator in RwandaThe National Bank of Rwanda (BNR)
💸 Foreign Direct Investment in Rwanda99.92 USD Million in 2020
🔄 Foreign Exchange Reserves in Rwanda1,806 million US dollars in 2020
🏛 Local office in Kigali?No
👨‍⚖️ Governor of SEC in RwandaNone, John Rwangombwa is the Governor of the National Bank of Rwanda
✔️ Accepts Rwandan Traders?Yes
🗓 Year Founded2010
☎️ Rwandan Traders Office Contact NumberNone
📲 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• YouTube
⚖️ RegulationASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB
1️⃣ Tier-1 Licenses• Australian Securities and Investment • Commission (ASIC)
Financial Conduct Authority (FCA)
• Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)
2️⃣ Tier-2 Licenses• Cyprus Securities and Exchange • Commission (CySEC)
• Dubai Financial Services Authority (DFSA)
• Capital Markets Authority (CMA)
3️⃣ Tier-3 Licenses• Securities Commission of the Bahamas (SCB)
🪪 License Number• Bahamas – 177174 B
• Australia – ACN 147055703, AFSL 414530
• United Kingdom – 684312
• Cyprus – HE 398429
• Nigeria – CMA Licence Number 128
• Dubai – DFSA F004356, DIFC 3460
• Germany – 151148
⚖️ BNR RegulationNone
🏛 Global RestrictionsUnited States, Canada, Iran, Japan, Iraq, Zimbabwe, Yemen, and others
☪️ Islamic AccountYes
💻 Demo AccountYes
🛍 Retail Investor Accounts2
✔️ PAMM AccountsNo
💵 Liquidity ProvidersBarclays, HSBC
💰 Affiliate ProgramYes
➡️ Order ExecutionMarket
📊 Starting spreadVariable, from 0.0 pips EUR/USD
💸 Minimum Commission per TradeFrom AU$7
💵 Decimal Pricing5th decimal pricing after the comma
📞 Margin Call90%
🛑 Stop-Out20%
📉 Minimum Trade Size0.01 lots
📈 Maximum Trade Size100 lots
💰 Crypto trading offered?Yes
✔️ Offers an RWF Account?No
👥 Dedicated Rwandan Traders Account Manager?No
📊 Maximum Leverage• 1:500 (Professional)
• 1:400 (Retail) – Depending on the jurisdiction
• 1:30 (EU and UK clients)
📈 Leverage Restrictions for Rwanda?None
💵 Minimum Deposit (RWF)140,000 RWF or an equivalent to AU$200
✔️ Rwandan franc Deposits Allowed?No
📊 Active Rwandan Traders Trader Stats100,000+
👥 Active Rwandan Traders-based Pepperstone customersUnknown
🔄 Rwanda Daily Forex TurnoverUnknown, the overall trading volume of over $6.6 trillion
💰 Deposit and Withdrawal Options• Visa
• Mastercard
• Bank transfer
• Paypal
• Bpay
• Neteller
• POLi
• Skrill
• China UnionPay
📉 Minimum Withdrawal Time1 business day
📈 Maximum Estimated Withdrawal TimeUp to 7 business days
💰 Instant Deposits and Instant Withdrawals?No
🤝 Segregated Accounts with Rwandan Traders Banks?No
💻 Trading Platforms• MetaTrader 4
• MetaTrader 5
• cTrader
• TradingView
• Myfxbook
• DupliTrade
💵 Tradable Assets• Forex
• Shares
• ETFs
• Indices
• Commodities
• Currency Indices
💸 Offers USD/RWF currency pair?No
📊 USD/RWF Average SpreadN/A
✅ Offers Rwandan Traders Stocks and CFDsNo
📖 Languages supported on the WebsiteEnglish, Spanish, Russian, Chinese, Vietnamese, Arabic, Indonesian, Italian, French, German, Hungarian, Turkish
📘 Customer Support LanguagesMultilingual
🗣 Copy Trading SupportYes
⏰ Customer Service Hours24/5
📞 Rwandan Traders-based customer support?Yes
💰 Bonuses and Promotions for Rwandan TradersNone
📚 Education for Rwanda beginner tradersYes
📱 Proprietary trading softwareNo
🏅 Most Successful Rwandan TraderUnknown
✔️ Is Pepperstone a safe broker for Rwandan Traders?Yes
🎖 Rating for Pepperstone Rwanda9/10
🥇 Trust score for Pepperstone Rwanda92%
👉 Open An Account👉 Open Account

Pepperstone Regulation and Safety of Funds

Pepperstone Regulation in Rwanda

Pepperstone Review Regulation And Safety

👉 Even though Pepperstone is not regulated by the Bank of Rwanda or any other local authorities, the broker is authorized and regulated by a few other well-known market regulators from around the world.


Pepperstone Global Regulations

➡️ In the United Kingdom, the FCA monitors and regulates Pepperstone Limited as a Tier-1 market regulator. Pepperstone Limited is licensed under reference number 684312.

➡️ In Australia, Pepperstone Group Limited is licensed by the ASIC, the region’s premier market regulator under AFSL number 414530, with ABN 147055703.

➡️ Pepperstone Financial Services (DIFC) Limited is headquartered in Dubai and is regulated by the Dubai Financial Services Authority (DFSA), a Tier-2 market regulator, under DFSA F004356 and DIFC 3460.

➡️ Pepperstone Markets Limited is governed and regulated by the Securities Commission of the Bahamas (SCB), a Tier-3 market regulator, under license number 177174 B.

➡️ In Cyprus, Pepperstone EU, Ltd. is governed and controlled by CySEC, a Tier-2 market regulator, under reference number HE 398429.

➡️ In Germany, BaFin controls and governs Pepperstone GmbH, regulated under license number 151148.

➡️ In Kenya, Pepperstone Markets Kenya Limited is licensed and authorized by the Capital Markets Authority (CMA), a Tier-2 market regulator, under license number 128.


Pepperstone Client Fund Security and Safety Features

Pepperstone Client Fund Security and Safety Features

👉 Due to the stringent standards of the authorities, retail and institutional traders from Rwanda have no reason to doubt Pepperstone’s trustworthiness.


👉 All financial services organizations must conform to stringent capital requirements, segregate trader accounts from company accounts, be subject to internal risk management and internal audits, and adhere to several other laws imposed by ASIC, FCA, and Pepperstone’s five other market regulators.


👉 Having a trustworthy government-backed agency supervise a company’s activities may contribute significantly to the company’s image.


👉 Traders are ready to tolerate the inherent risk of markets, but they prefer that their funds not be exposed to extra risks, such as those offered by counterparties.


👉 In addition, all customer money is stored in Tier 1 institutions, and Pepperstone is subject to regular audits by external, respectable parties who report to authorities.

Pepperstone Awards and Recognition

Pepperstone Awards and Recognition

👉 In the financial market, Pepperstone has received several awards, demonstrating that it is a reliable broker. Recently, the following honours and awards have been bestowed:

➡️ Pepperstone received the title of Best Forex Broker in 2021.

➡️ TradingView broker of the year in 2022

➡️ Best Professional Trade Conditions for 2019 and 2020

➡️ Award for Best Trading Performance Tools in 2020

➡️ The 2019 Best Global Forex ECN Broker Award went to Pepperstone

➡️ Best Forex Trading Support, given by the Global Forex Awards to Pepperstone in 2019.

Pepperstone Account Types and Features

Pepperstone Review Account Types

👉 The Standard and Razor Accounts are the two kinds of dynamic retail accounts offered by Pepperstone to Rwandan clients.


👉 Both retail accounts were designed to fulfil the demands of a variety of traders and assist them in achieving their objectives.


👉 The Standard account offers minimum FX spreads beginning at one pip with no fee, while the Razor account offers minimum FX spreads beginning at zero pips with a commission fee according to the base currency of the account.


👉 Rwandan traders can also register an unlimited demo account that can be utilized risk-free for 30 days after registration to practice trading and test trading methods.


👉 Pepperstone allows Muslim traders to convert their active trading accounts to Islamic accounts, ensuring that Muslims have access to global markets by providing them with halal trading conditions.

💻 Live Account💰 Minimum Dep.📊 Average Spread💸 Commissions💵 Average Trading Cost
➡️ Standard510,000 UGX or 200 AUD0.6 pipsNone7.7 USD
➡️ Razor510,000 UGX or 200 AUD0.0 pips7 AUD per lot• cTrader: 8.17 USD
• MT4: 8.17 USD
• MT5: 9.2 USD


Pepperstone Live Trading Account Details

Standard Account

Pepperstone Review Standard Account

👉 For Rwandans who are just starting in the world of trading and the financial markets, the Standard account is the sort of account that will serve them well.


👉 In addition, this account is suitable for traders who trade ordinary volumes and who do not utilize fast-paced trading techniques that demand narrower spreads. Those traders will find that this account meets all their needs.

Account FeaturesValue
💰 Minimum Deposit Requirement140,000 RWF or an equivalent to AU$200
💵 Minimum Trading Size0.01 lots
📈 Maximum Trading Size100 lots in a single trade
💰 Base Account CurrencyAUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, and HKD
✔️ Trading Strategies SupportedAll including scalping, hedging, and Expert Advisors (EAs)
🗞 News Trading Offered?Yes
💸 Trade ExecutionNo-Dealing Desk (NDD)
📊 Average EUR/USD SpreadFrom 0.6 pips
💳 CommissionsNone
🔄 Rollover SwapsYes, according to the market rates
⬆️ Maximum Leverage per region• Australia – 1:30
• Bahamas – 1:200
• Cyprus – 1:30
• Dubai – 1:30
• Germany – 1:30
• Rwanda – 1:400
• United Kingdom – 1:30
❌ Negative Balance Protection OfferedYes, only for retail clients
📞 Margin Close-Out (%)50%
✔️ Trading Instruments offered1,200+
💻 Trading Platforms offeredMetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, DupliTrade


Razor Account

Pepperstone Review Razor Account

👉 The spreads on the Razor Account are so low that they inspired the account’s namesake. This professional account is perfect for experienced traders and scalpers who are looking for the greatest trading conditions and the quickest executions.


👉 This account will provide them with the edge they need to compete in today’s fast-paced financial climate.

Account FeaturesValue
💰 Minimum Deposit Requirement140,000 RWF or an equivalent to AU$200
💵 Minimum Trading Size0.01 lots
📈 Maximum Trading Size100 lots in a single trade
💰 Base Account CurrencyAUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, and HKD
✔️ Trading Strategies SupportedYes
🗞 News Trading Offered?Yes
💸 Trade ExecutionNo-Dealing Desk (NDD)
📊 Average EUR/USD SpreadBetween 0.0 pips and 0.3 pips
💳 CommissionsFrom AU$7 round turn on 100,000 traded
🔄 Rollover SwapsYes, according to the market rates
⬆️ Maximum Leverage per region• Australia – 1:30
• Bahamas – 1:200
• Cyprus – 1:30
• Dubai – 1:30
• Germany – 1:30
• Rwanda – 1:400
• United Kingdom – 1:30
❌ Negative Balance Protection OfferedYes, only for retail clients
📞 Margin Close-Out (%)50%
✔️ Trading Instruments offered1,200+
💻 Trading Platforms offeredMetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, DupliTrade


Professional Account

Pepperstone Review Professional Account

👉 The Pepperstone Professional account is restricted to traders that meet the following criteria and are regarded as experts:

➡️ Professional traders must complete the Sophisticated Investor Test, a brief online exam, to demonstrate their knowledge.

➡️ To qualify for a license to trade leveraged goods, you must have traded at least AU$50,000 or twenty times in each of the previous four quarters. To be qualified, you must fulfil this condition and have the appropriate financial experience.

➡️ Traders must have had a net worth of at least AU$2.5 million or an annual gross income of at least $250,000 in the two years before satisfying these requirements.


👉 Once traders satisfy these requirements, they may apply for a professional account, which gives them access to a dedicated account manager in addition to increased leverage.


👉 With the Pepperstone professional account, professional Rwandan traders have a 20% close-out margin on MetaTrader and a 50% close-out margin on cTrader.


👉 Despite the apparent benefits of being a professional trader with Pepperstone, traders should be aware that some safety and risk management elements will be eliminated. This is because, as professionals, traders must have appropriate control over their risks and risk exposure.


👉 As professional traders, Rwandans will no longer have access to leverage limitations and margin close-out requirements. In addition, negative balance protection and retail transparency details are deleted.


Pepperstone Base Account Currencies

👉 Rwandan traders cannot register a live trading account with RWF as the default base currency. However, traders can choose from these base currencies:

➡️ AUD

➡️ USD

➡️ JPY

➡️ GBP

➡️ EUR

➡️ CAD

➡️ CHF

➡️ NZD

➡️ SGD

➡️ HKD


Pepperstone Demo Account

Pepperstone Review Demo Account

👉 An inexperienced trader or one who has never traded before may open a Pepperstone demo account to practice trading without taking any risks before moving on to open a real account and invest real money.


👉 Demo accounts provided by Pepperstone are also perfect for experienced traders who want to put their trading techniques through their paces in a risk-free setting so that they may refine and perfect them.


👉 Pepperstone’s website makes it simple for residents of Rwanda to open a demo account, giving them access to a substantial amount of virtual cash with which to practice trading.


Pepperstone Islamic Account

Pepperstone Review Islamic Account

👉 Traders can keep certain positions open for longer, even after the market has closed. However, depending on the position size, financial instrument, and whether traders hold a long or short position, Rwandan traders can either expect to be debited or credited an overnight fee.


👉 This presents a challenge for Muslim traders who follow Sharia law as this kind of interest is forbidden under the Riba principles of Sharia law.


👉 However, Pepperstone offers halal trading conditions by allowing for live trading accounts to be converted to Islamic accounts, exempting these traders from such overnight fees.


👉 Traders must note that this option is only available to traders who reside in the following countries:

➡️ Albania

➡️ Azerbaijan

➡️ Bangladesh

➡️ Burkina Faso

➡️ Bahrain

➡️ Brunei

➡️ Nigeria

➡️ Brunei Darussalam

➡️ Algeria

➡️ Egypt

➡️ Guinea

➡️ Indonesia

➡️ Jordan

➡️ Kyrgyzstan

➡️ Kuwait

➡️ Morocco

➡️ Mauritania, and several other Islamic regions.

How to open an Account with Pepperstone in Rwanda

Pepperstone Review Islamic Account

👉 The account-creation procedure at Pepperstone is easy, quick, and user-friendly. After you finish the online application, the account verification process will take around four days.


👉 A trader’s first step is to verify their email, provide personal information, and provide proof of identity. Rwandan traders may contact Pepperstone’s customer care professionals for assistance at any time throughout the process.


👉 Rwandans must submit the following papers to complete the KYC procedure:

➡️ A valid copy of their passport, driver’s license, or national identification card.

➡️ A bank or credit card statement from the last three months, or a utility bill that displays the trader’s home address (this must be in the name of the trader to be considered eligible).


👉 Rwandan traders will also be asked a few basic compliance questions to determine their degree of trading expertise, so they should set aside at least 10 minutes to finish the account opening procedure.


👉 Even while traders can access Pepperstone’s platform immediately, they cannot deposit, withdraw, or trade until they have completed the KYC, which can take anything from a few hours to a few days depending on the conditions.

AvaTrade Vs SuperForex Vs FXCM – Broker Comparison

🥇 Pepperstone🥈🥉 Axi
💻 Trading Platform• MetaTrader 4
• MetaTrader 5
• cTrader
• TradingView
• Myfxbook
• DupliTrade
• MetaTrader 4
• TradingView
• MetaTrader 4
💵 Withdrawal FeeNoNoYes
✔️ Demo AccountYesYesYes
💰 Min Deposit140,000 RWF20,500 RWF0 RWF
📊 Leverage1:400• NBRB – 1:100
• FCA – 1:30
• ASIC/CySEC – 1:30
📈 SpreadVariable, from 0.0 pipsVariable, from 0.6 pips0.0 pips
💸 CommissionsFrom AU$7NoneFrom $3.5
🛑 Margin Call/Stop-Out90%/20%100%/50%From 90%/50%
📲 Order ExecutionMarketMarketMarket
✔️ No-Deposit BonusNoNoNo
✅ Cent AccountsNoNoNo
💻 Account Types• Standard Account
• Razor Account
Live Account (Retail or Professional)• Standard Account
• Pro Account
• Elite Account
⚖️ BNR RegulationNoNoNo
💵 RWF DepositsNoYesNo
✔️ Rwandan franc AccountNoNoNo
📞 Customer Service Hours24/524/724/5
🛍 Retail Investor Accounts213
☪️ Islamic AccountYesNoYes
📉 Minimum Trade Size0.01 pips0.01 lots0.01 lots
📈 Maximum Trade Size100 lotsDepends on the account balance1,000 (US500)
📊 Minimum Withdrawal Time1 business dayInstantInstant
⏱ Maximum Estimated Withdrawal TimeUp to 7 business daysUp to 3 Working DaysBetween 1 to 3 Days
✔️ Instant Deposits and Instant Withdrawals?NoYesYes

Overall Rating

Min Deposit

200 USD / 21 7071 RWF



Trading Desk

MetaTrader 4, MetaTrader 5, cTrader and TradeView


Yes (Not available in Africa)

Total Pairs


Islamic Account


Trading Fees


Account Activation Time

24 Hours

Pepperstone Trading Platforms

Pepperstone Review Trading Platforms

👉 Pepperstone provides a diverse range of online trading platforms, including MetaTrader 4 for Windows, Mac, and mobile devices.


👉 TradingView, Myfxbook, DupliTrade, cTrader, WebTrader, and iPhone/iPad mobile applications are also available from Pepperstone for trading the markets from anywhere, with solid platforms and lightning-fast execution speeds.


👉 Pepperstone’s better trading platforms, which are supplied free of charge, allow customers to do in-depth market research and trade more profitably. These platforms feature tools that are like those used by professionals in the field.


👉 Furthermore, regardless of their level of trading knowledge, Rwandans may use these user-friendly tools for everything from simple trading to advanced market analysis. They may be customised to your preferences and requirements, regardless of the kind of trader you are. The following trading platforms are available to Rwandan traders via Pepperstone:

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ cTrader

➡️ TradingView

➡️ Myfxbook

➡️ DupliTrade


Desktop Platforms

Pepperstone Review Desktop Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ cTrader


MetaTrader 4

👉 Windows, Linux, and Mac versions of the MT 4 platform are now available. To get the most out of their MT4 platform, customers may make use of the Smart Tools that are available to them.


👉 Traders may benefit from the use of Smart Tools since they provide support with decision making, enhanced execution and administration of deals, broadcast facilities, alarms, and up-to-date market data.


👉 The method you trade can be customized with MT4, expert advisors can be built and executed with MQL4, high-probability trades may be identified with AutoChartist, and the MT4 Smart Trader suite gives you access to twenty-eight indicators and EAs.


MetaTrader 5

👉 Rwandan traders can quickly register an MT5 account if they would rather trade using the MetaTrader 5 platform.


👉 Pepperstone provides video lessons that walk users through the process of downloading, installing, and beginning to use MT5. The most recent version, MetaTrader 5, is an improvement over its predecessor, MT4.


👉 There are all the features from MT4, but with more capability, and it is the most powerful edition of the platform. You will not have any trouble with the coding, the processing will be done more quickly, and you will have more extensive customization options.



👉 cTrader creates an atmosphere that is identical to that of an institutional broker. According to Pepperstone, it is ideal for persons who are just beginning their careers in the trading industry.


👉 Using the cTrader platform’s sophisticated capabilities, you will have access to the FIX API, will be able to regulate order fills and slippage, and will be able to code with cTrader Automate.

WebTrader Platforms

Pepperstone Review WebTrader Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ cTrader

➡️ TradingView

➡️ Myfxbook

➡️ DupliTrade


MetaTrader 4

👉 When it comes to standard trading as well as when you want to experiment with algorithmic trading or automated trading techniques, MetaTrader 4 is a platform that is not only widely used but also extremely adaptable.


👉 For this purpose, you can make use of EAs with MetaTrader, whereas with cTrader you can experiment with C#.


MetaTrader 5

👉 The MT5 trading platform is an enhanced version of the MT4 trading platform that preserves most of MT4’s functionality while also introducing new ones and upgrading its capabilities.


👉 Users of the MT5 platform can easily and seamlessly implement hedging tactics, which enables them to initiate many positions all at once. This is a method of risk management that is utilized by many traders in today’s market.



👉 Traders in Rwanda have access to not just MetaTrader 4 and MetaTrader 5, but also the cTrader WebTrader solution, which allows them to conduct transactions directly from their browsers.


👉 In addition to this, Pepperstone provides its clients with access to cAlgo, a robust platform that assists clients in the development of trading robots and indicators. Traders can design their own algorithms by using the built-in C# resources and back-testing features of the platform.



👉 When traders create a real account with Pepperstone, they are eligible to get TradingView at no additional cost. When it comes to researching, recording, and evaluating any sort of equipment, TradingView is an extremely helpful tool.



👉 Myfxbook AutoTrade is a service that creates a copy of your trading account and gives you the ability to trade in a manner that resembles the most profitable forex trading systems.


👉 An added advantage is that with Pepperstone, you will not have to pay any performance fees or management fees if you create your own portfolio and use it for your investments.


👉 The fact that AutoTrade operates on its very own dedicated servers means that you will not need to download any other software to make use of it.



👉 Pepperstone customers that utilize DupliTrade, a prominent trading technique marketplace that enables automatic trading and allows users to diversify their assets, can do so.


👉 Subsequently, you can effortlessly enhance your trading skills while you acquire a fundamental understanding of how professional traders operate by making use of the signals that are generated by expert traders and provided by DupliTrade.


Trading App

Pepperstone Review Trading App

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ cTrader


MetaTrader 4 and 5

👉 Some of the most powerful mobile platforms available in the market are those that are given. The mobile versions of MT4 and MT5 are highly flexible and provide many of the same functionalities that are available on the desktop versions of these platforms.


👉 Rwandan traders can make use of the advantage presented by Pepperstone in collaboration with MT4 and MT5 mobile apps that allow you access to the financial markets, regardless of where you are in the world if you have a steady internet connection.



👉 cTrader Mobile is compatible with both Android and iOS operating systems, and the cTrader platform itself has been designed for mobile usage. You may either download the native app for your iPhone or Android device, or you can just access cTrader mobile on your browser.

Pepperstone Range of Markets

Pepperstone Review Range of Markets

👉 Rwandan Traders can expect the following range of markets from Pepperstone (all assets are offered in CFDs):

➡️ Forex

➡️ Cryptocurrencies (Not available in Africa)

➡️ Shares

➡️ ETFs

➡️ Indices

➡️ Commodities

➡️ Currency Indices


Financial Instruments and Leverage offered by Pepperstone

🔨 Instrument✔️ Number of Assets Offered📈 Maximum Leverage Offered
➡️ Forex701:400
➡️ Precious Metals111:400
➡️ ETF’s1001:20
➡️ Indices281:200
➡️ Stocks1,0001:20
➡️ Commodities171:400

Broker Comparison for Range of Markets

🥇 Pepperstone🥈🥉 Axi
➡️️​ ForexYesYesYes
➡️️​ Precious MetalsYesNoNo
➡️️​ ETFsNoNoNo
➡️️​ CFDsYesYesYes
➡️️​ IndicesYesYesYes
➡️️​ StocksYesYesYes
➡️️​ CryptocurrencyNoNoNo
➡️️​ OptionsNoNoNo
➡️️​ EnergiesYesYesYes
➡️️​ BondsNoNoNo

Pepperstone Trading and Non-Trading Fees


Pepperstone Review Spreads

👉 Depending on what type of account a trader chooses, Pepperstone could offer different spreads. The Standard Account from Pepperstone has a variable spread with a markup. This makes sure that there are no commission fees for this account.


👉 The Razor Account, on the other hand, has a spread from as low as 0.0 pips on EUR/USD, making it perfect for scalpers and other traders who need tight spreads for their trading methods.


👉 Also, the Islamic Account, which is available in some places, does not charge traders for overnight costs. Since Pepperstone may charge a broker fee for facilitating the deal, the spreads on this account are higher.


👉 Rwandans can usually expect the following Pepperstone spreads:

➡️ Standard Account – from 0.6 pips EUR/USD

➡️ Razor Account – between 0.0 pips and 0.3 pips EUR/USD

➡️ Islamic Account Option – from between 1 pip and 1.2 pips EUR/USD


👉 In addition to these normal spreads, Rwandans should also be prepared for some of the typical spreads listed below, which apply to a variety of financial instruments:



Pepperstone Review Commissions

👉 Both the Standard Account and the Islamic Account Option at Pepperstone are commission-free. A mark-up is given to the spread in these accounts to pay the broker’s fee.


👉 The Razor Account, on the other hand, imposes a commission fee of AU$7 per round turn on every 100,000 of the base currency traded. The following are the average commissions paid based on the account’s base currency:

💰 Financial Instrument✅ Average Spreads
EUR/USD0.6 pips
GBP/USD0.8 pips
USD/JPY0.7 pips
Gold0.4 pips
Crude Oil3 pips
Wall Street 301 pip
US Tech 100 (Nasdaq)0.8 pips


Overnight Fees, Rollovers, or Swaps

Pepperstone Review Swap Rates

👉 Depending on risk management and market circumstances, Pepperstone’s financial institutions announce swap rates every week.


👉 This worldwide investment bank provides Pepperstone with prospective rates. These are updated regularly to reflect the market’s ever-changing nature.


👉 Overnight financing is a fee for retaining a position in stocks, commodities, cryptocurrencies, metals, or index markets beyond the rollover period, as well as a swap for foreign currency holdings.


👉 Traders should be advised that on Fridays, a triple swap is performed to CFD Equities and Indices, which accounts for weekend holdings.


👉 Traders who use Pepperstone’s Islamic Account should be advised that every 10 days they keep a position open, they will be charged administrative fees.


Deposit and Withdrawal Fees

Deposit and Withdrawal Fees

👉 Pepperstone only charges AU$20 per withdrawal for International Telegraphic Transfer (TT) transactions. Any of the available payment options have no additional deposit or withdrawal fees.


Inactivity Fees

👉 When a live trading account becomes dormant and/or continues to be inactive, Pepperstone does not collect any fees for the account.


Currency Conversion Fees

👉 Deposits and withdrawals made in Rwandan Franc (RWF) are likely to be subject to currency conversion charges because Pepperstone does not accept RWF as a base currency for either the Standard or Razor Accounts.


Other Fees

Pepperstone Review Other Fees

👉 When traders who are eligible convert a live trading account to an Islamic account, they are not subject to receiving or paying overnight fees. .


👉 However, while traders can hold their positions open for up to 10 days free of charge, once they cross this threshold, they will start paying an admin fee on these open positions.


👉 Every financial instrument that can be traded on the Islamic account is subject to a fee and Pepperstone reserves the right to change these fees according to market conditions, and other factors, without prior notice.


👉 The typical administrative fees that Muslim traders can expect on their Islamic accounts are as follows:

➡️ Cryptocurrencies (Professional Account Only), commodities, equities – 1.5 USD

➡️ Index Markets – 10 USD

➡️ SpotCrude and SpotBrent – 20 USD

➡️ Forex, precious metals on the retail account – 50 USD

➡️ Only on the professional account – Crypto10, Crypto20, and Crypto30 – 50 USD

➡️ BTC/USD (Professional Account Only) – 125 USD

➡️ GER40, FRA40, JPN225, CN50, ETH/USD (Professional Account Only) – 12 USD

➡️ US30 – 30 USD

Pepperstone Deposits and Withdrawals

👉 Pepperstone offers the following deposit and withdrawal methods:

➡️ Visa

➡️ Mastercard

➡️ Bank transfer


➡️ Paypal

➡️ Bpay

➡️ Neteller

➡️ POLi

➡️ Skrill

➡️ China UnionPay


Broker Comparison: Deposit and Withdrawals

🥇 Pepperstone🥈🥉 Axi
Minimum Withdrawal Time1 business dayInstantInstant
Maximum Estimated Withdrawal TimeUp to 7 business daysUp to 3 Working DaysBetween 1 to 3 Days
Instant Deposits and Instant Withdrawals?NoYesYes


Pepperstone Deposit Currencies, Deposit and Withdrawal Processing Times

💰 Payment Method💵 Accepted Currencies💰 Deposit Processing💵 Withdrawal Processing
VisaAUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD3 to 5 days3 to 5 days
MastercardAUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD3 to 5 days3 to 5 days
Bank transferAUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD3 to 7 days3 to 7 days
PaypalAUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKDInstant3 to 5 days
BpayAUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD3 to 5 days3 to 5 days
NetellerAUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKDInstant3 to 5 days
POLiAUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD1 to 3 days1 to 3 days
SkrillAUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKDInstant3 to 5 days
China UnionPayAUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD3 to 5 days3 to 5 days

How to Deposit Funds with Pepperstone

Pepperstone Review How to Deposit Funds

👉 To deposit funds to an account with Pepperstone, Rwandan Traders can follow these steps:

➡️ Rwandan traders can deposit money into their accounts by logging into their secure Client Area and selecting “Add Funds” from the “Funds” menu.

➡️ After selecting the account to fund, traders will be presented with different deposit alternatives.

➡️ Rwandan traders may select a deposit method (which can be used for both deposits and withdrawals), input the deposit amount and currency, and complete the transaction.

Pepperstone Fund Withdrawal Process

Pepperstone Review How to Withdraw Funds

👉 To withdraw funds from an account with Pepperstone, Rwandan Traders can follow these steps:

➡️ Rwandan traders with Pepperstone accounts may access their funds instantly by logging in to the secure Client Area on the website or trading platform and selecting “Funds.”

➡️ Traders can select “Withdraw Funds” to be presented with a range of withdrawal options.

➡️ Rwandan traders must confirm their withdrawal request within one hour of submitting it by clicking the “Accept Withdrawal” link in the withdrawal email.

➡️ Rwandan traders who have already configured their 2-factor authentication (2FA) can confirm their withdrawal by entering the code from their Authenticator app during the last step of the withdrawal procedure.

Pepperstone Education and Research

Pepperstone Review Eduaction And Research


👉 Pepperstone offers the following Educational Materials:

➡️ Learn to Trade CFDs

➡️ Learn to Trade Forex

➡️ Learn to Trade Crypto

➡️ Learn to Trade Shares

➡️ Trading Guides

➡️ Webinars


Research and Trading Tool Comparison

🥇 Pepperstone🥈🥉 Axi
Economic CalendarYesYesNo
Trading ViewYesNoNo
Trading CentralNoNoNo
Market AnalysisYesYesYes
News FeedYesYesYes


👉 Pepperstone also offers Rwandan traders the following additional Research and Trading Tools:

➡️ Market Analysis

➡️ Smart Trader Tools for MetaTrader

➡️ cTrader Automate

➡️ AutoChartist

➡️ API Trading

➡️ Economic Calendar

➡️ Meet the Pepperstone analysts

Pepperstone Bonuses and Promotions

Pepperstone Bonuses and Promotions

👉 Pepperstone offers Rwandan Traders the following bonuses and promotions:

➡️ Professional Client Referral Bonus

➡️ Retail Client Referral Bonus


👉 To nominate a friend, go to the ‘Rewards’ tab in your secured client area and enter their full name and email address. Alternatively, your reference can include your email address in the “How did you hear about us?” section of the application form.


👉 The referral incentive is only given out once the referrer has satisfied the conditions, which include making a minimum deposit of $1,000. When this condition is met, the recommending trader will be entitled to 20 commission-free trades on forex and share CFDs.

How to open an Affiliate Account with Pepperstone

Pepperstone Review Affiliate Program

👉 To register an Affiliate Account, Rwandan Traders can follow these steps:

➡️ Go to the Pepperstone website and choose “Partners” from the drop-down menu at the top of the page.

➡️ Click “Find out more” under affiliates to get to the relevant page for prospective affiliates.

➡️ Prospective affiliates can get started by reading the materials and clicking “Start Earning Today.”

➡️ Interested affiliates should complete and submit the application form to the Pepperstone team for consideration.

➡️ Once authorized, new affiliates can begin using Pepperstone’s full affiliate materials, tracking links, and marketing materials.

➡️ Affiliates can then begin referring people to the Pepperstone website and get cash for each successful referral within 30 days.


Pepperstone Affiliate Program Features

Pepperstone Affiliate Program Features

👉 Pepperstone’s excellent referral program enables partners to expand their businesses by utilizing the broker’s considerable resources and capabilities.


👉 Pepperstone affiliates may easily earn up to $1,300 in CPA, and one of the benefits of working with the company is having access to real-time data 24 hours a day, seven days a week.


👉 Pepperstone’s CPA structure is multi-tiered and configurable, making it suitable for a variety of affiliate agreements. The structure of Pepperstone is one of the reasons for its popularity.


👉 Furthermore, the Affiliate Program is great for anyone with a strong social media following or an online audience.

Pepperstone Customer Support

Pepperstone Customer Support

👉 Pepperstone offers traders extensive assistance via email, as well as via chat and phone round-the-clock and five days a week, as well as via social media portals and an online contact form.


👉 Clients are also assigned an account manager who is there to assist them with any questions or concerns they may have with their account. Customers would be unable to contact the dealing desk in the case of a trading emergency given that the organization encourages not having a dealing desk.

Customer SupportPepperstone’s Customer Support
⏰ Operating Hours24/5
🗣 Support LanguagesEnglish, Vietnamese, Thai, Chinese, Polish, Arabic
🗯 Live ChatYes
📧 Email AddressYes
📞 Telephonic SupportYes
✔️ Local Support in Rwanda?No
🥇 Overall quality of Pepperstone Support4.8/5

Pepperstone Corporate Social Responsibility


👉 The United Nations and other leading nations, organizations, and institutions are putting more emphasis on climate change.


👉 Pepperstone, a global broker, plans to set the pace for this movement by pledging to achieve carbon neutrality by the year 2023 as a demonstration of its commitment to corporate social responsibility (CSR), and it is pushing other FX and CFD brokers to do the same.


👉 The Pepperstone team cares deeply about its communities, as well as its shareholders, board of directors, and employees.


👉 To help achieve its CSR objectives, Pepperstone has brought on Pangolin Associates, a carbon management and sustainability consultant with accreditations in both Australia and the United Kingdom, to evaluate the current standing of the company and further action that must be taken.


👉 Pepperstone will continually share and update its path toward carbon neutrality, as well as solicit feedback to develop environmentally friendly products.

Overall Rating

Min Deposit

200 USD / 21 7071 RWF



Trading Desk

MetaTrader 4, MetaTrader 5, cTrader and TradeView


Yes (Not available in Africa)

Total Pairs


Islamic Account


Trading Fees


Account Activation Time

24 Hours

Our Verdict on Pepperstone

👉 Pepperstone provides clients with the most comprehensive trading experience available among online FX brokers. Comparable to industry standards, Pepperstone’s market research and insights link traders to the market and augment its training materials.


👉 Being FCA-regulated enhances the firm’s reputation but the paradox of giving negative balance protection while missing guaranteed stop losses is a little unsettling.


👉 Comparable to industry standards, Pepperstone’s market research and insights link traders to the market and augment its training materials. All mobile versions of the trading platforms (MT4, MT5, and cTrader) are usable but functionally restricted, which is to be expected.


👉 Pepperstone also has a strong partnership with Equinix, allowing the broker to provide unparalleled low-latency access to the global interbank system via the Equinix Financial Exchange in New York.


👉 Through this feature, premium clients that want lightning-fast execution speeds and little price lag can select from a vast array of VPS alternatives.


👉 With all three of the major third-party trading platforms supported and extremely low spreads compared to most other brokers, Pepperstone’s clients have access to the finest possible technology and trading conditions, which have contributed to the company’s stellar reputation.


👉 Pepperstone is an excellent option for Rwandan Forex traders seeking a low-cost and dependable NDD broker with excellent education and market research sections, as well as enough trading instruments.

Pepperstone Pros and Cons

✔️ Pros❌ Cons
Pepperstone is well-regulated by seven entities in global regionsPepperstone has limited market analysis
Rwandan traders can expect zero-pip spreads on the Razor account with competitive commission feesThe fee schedules can be complex for beginners to understand
Pepperstone offers a great platform choice between MetaTrader 4, MetaTrader 5, TradingView and cTrader across desktop, web, and mobileThere is no RWF-denominated trading account for Rwandan traders
There is a wide range of tradable assets offered by PepperstoneCurrency conversion fees are charged when traders deposit or withdraw in currencies other than AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, or HKD
Pepperstone is partnered with Equinix to ensure low latency and superior trade execution speedsThe Islamic account option is limited to only a few countries in the world
Pepperstone caters for all its clients’ needs and objectives by offering a range of tools, resources, and materialsLeverage restrictions apply to each trader’s country of residence
Pepperstone has an excellent online customer support
Rwandan traders can expect access to demo accounts on both live accounts and all three trading platforms


Does Pepperstone have Volatility 75?

Yes, Pepperstone includes VIX in its product portfolio under Index CFDs alongside other popular indices that can be traded.


Does Pepperstone have Nasdaq?

Yes, you can trade Nasdaq with Pepperstone as an Index CFD, which means that you can speculate on whether the instrument’s price will rise or fall without owning the underlying instrument.


Is Pepperstone regulated?

Yes, Pepperstone is well-regulated and authorized in the following regions:

  • Pepperstone Limited (UK) – The United Kingdom by the FCA.
  • Pepperstone Group Limited – Australia by the ASIC.
  • Pepperstone Financial Services (DIFC) Limited – Dubai by the DFSA.
  • Pepperstone Markets Limited – Bahamas by SCB.
  • Pepperstone EU, Ltd. – Cyprus by CySEC.
  • Pepperstone GmbH – Germany by BaFin.
  • Pepperstone Markets Kenya Limited – Kenya by CMA.


Is Pepperstone safe or a scam?

Pepperstone is one of the safest, most reliable brokers in the world. Pepperstone is well-regulated by three Tier-1, three Tier-2, and one Tier-3 regulator in the United Kingdom, Australia, Germany, Cyprus, Dubai, and Kenya, respectively.


Does Pepperstone offer Micro-lots?

Yes, all trading platforms supported by Pepperstone allow different position sizes, from mini and micro-lots (1,000 and 10,000, respectively) up to standard lots (100,000 units of the base currency).


Is Pepperstone ECN?

Yes, Pepperstone is a No-Dealing Desk (NDD) broker that provides both Straight-Through Processing (STP) and Electronic Communications Network (ECN) execution and pricing sourced from some of the best liquidity providers in the world.


In addition, Sucden Financial Limited, IS Prime Limited, LMAX Limited, GAIN Capital, as well as Jefferies Financial Services, Inc. (Morgan Stanley, Morgan Chase) are all execution venues for Pepperstone.


What is the withdrawal time for Pepperstone?

The withdrawal time with Pepperstone ranges from one business day up to several business days. It will depend on the payment method that you use and the internal processes of your bank.


Does Pepperstone offer an Islamic Account?

Yes, on both Standard and Razor accounts, Pepperstone provides swap-free trading Islamic accounts for Muslim faith traders. Pepperstone accounts are great since they are compatible with the Islamic Muslim faith and do not charge swaps or interest on overnight holdings.


However, while an Islamic Account is available, there is a limited list of countries that are eligible for this option.


Does Pepperstone allow scalping?

Yes, Pepperstone welcomes and accommodates all trading strategies including scalping. In addition, Pepperstone also offers Smart Trader Tools that help traders with their scalping strategies.


👉 Now it is your turn to participate:

➡️ Do you have any prior experience with Pepperstone?

➡️ What was the determining factor in your decision to engage with Pepperstone?

➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?

➡️ Have you experienced any issues with Pepperstone such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?


👉 Regardless, please share your thoughts in the comments below.



👉 No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.

10/10 - (1 vote)

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