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Pepperstone

CFD — you do not own the underlying coin and cannot withdraw it.

CFD 1:20 Negative balance protection 4 licences
Data checked 2026-10-06 Last change 2026-09-24 Source How we rate →
At a glance

Key numbers

BTC/USD spread 0.018% ↗
Commission 0.000% ↗
Overnight swap (long) Not disclosed
Overnight swap (short) Not disclosed
Max leverage (crypto) 1:20 ↗
Retail accounts losing money 79.6% ↗
Negative balance protection Yes ↗
Crypto instruments 40 ↗
KYC required Yes ↗

This broker publishes overnight funding rates only inside the trading platform, not on its public website. We do not estimate them.

Figures are from the /en/ site operated by Pepperstone Markets Limited (SCB Bahamas, SIA-F217). BTCUSD average spread (USD, Razor account column; the spreads page states a monthly measurement window) converted to % of notional at the same-day CoinGecko BTC price (current figures in the check note at the end). No commission on crypto CFDs. Overnight funding: the pricing page gives only the formula '(market closing price × trade size × percentage) / 360' and says current rates are shown on the trading platforms — no public figure, marked 'not disclosed'. Max retail leverage BTC/USD 1:20 (Leverage table on the pricing page, SCB entity, re-read 2026-09-24 — it was 1:10 when first recorded on 2026-09-16); professional clients 1:500 on BTC/USD (same table); EU/UK/AU retail 2:1. Instrument count = 9 major + 17 minor + 14 newly added USD pairs listed on the spreads page (crypto indices excluded). Retail-loss 79.6% as shown on the spreads page. [Broker figures checked 2026-10-06 by the daily crawler: BTCUSD average spread 15.15 USD (measured 01/08/2026–31/08/2026) at BTC ≈ $85,569 (CoinGecko) = 0.018%; retail loss 79.6%; leverage not re-read (pricing page behind a bot check).]

Pepperstone

About

Founded2010
HeadquartersMelbourne, Australia
Trading platforms↗ TradingViewMT4MT5cTraderPepperstone platform
Trust & regulation

Regulation & licences

JurisdictionRegulatorLicence no.Source
Bahamas SCB SIA-F217 ↗
Australia ASIC AFSL 414530 ↗
United Kingdom FCA 684312 ↗
Cyprus (EEA) CySEC 388/20 ↗
PepperstoneCrypto CFD brokers
BTC/USD spread0.018%Max leverage (crypto)1:20Retail accounts losing money79.6%
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