A reputable broker from Australia, Pepperstone is equally popular with novices and more experienced traders. The company offers several account types that suit different trading strategies and have their own commissions and fees. In this article, we’re going to tell you about these account types, compare them, and help you choose the right one for your particular trading goals.
Founded in 2010 by a team of professional traders, Pepperstone aims to set a high standard of broker services by implementing advanced technologies and providing attractive trading conditions. What it’s mostly known for is fast order execution (just about 30 ms on average) and a wide array of supported trading instruments, primarily CFDs on various assets. The leverage ratio offered by the broker can be as high as 1:400 for some instruments, and that’s definitely good news for professional traders.
Pepperstone features two main types of trading accounts: standard and Razor. Standard accounts are popular with the majority of novice and mid-level traders. They are simple to use, have no hidden fees or commissions, and their overall trading conditions are pretty favorable. Razor accounts are made to suit professional traders and scalpers. They have lower spreads and charge commissions for opening and closing positions. Let’s take a closer look at these Pepperstone account types.
A standard account is your go-to option if you’re just learning how to trade. The minimum order size is just 0.01 lot, and the spread for the EUR/USD pair is usually somewhere between 0.6 and 1.2 pips on average. You can deposit money in various currencies including AUD, USD, JPY, GBP, and EUR. This account type has relatively low fees and features no additional commissions for making deals.
Razor accounts are designed for experienced traders and scalpers. They charge commissions for any action like opening or closing positions since these accounts are usually used to make many trades a day. Leverage is allowed, the ratio reaches 1:500. However, the spreads are lower: traders only have about 0.3 pips on average.
But wait, there’s more. Pepperstone allows you to open demo accounts as well. They can be used for practice: here you may trade with virtual money without risking real funds to learn how to trade or test new strategies. Demo accounts allow you to use both standard and Razor accounts for practice.