Skip to content

Comprehensive Review dedicated to traders from Nigeria

Pepperstone Review Nigeria

Accepts Nigerian Clients

Who is Pepperstone?

Pepperstone was founded in 2010 and is now a reputable forex and CFDs provider. Today, the broker serves more than 400,000 clients from around the world, including traders from Nigeria. It offers investors a fairly high leverage of up to 1:400. There are many market products offered by Pepperstone. In total, the broker gives Nigerian traders access to over 1,200 different trading instruments.

Interestingly, this broker does not have a minimum deposit requirement. This means that the Pepperstone minimum deposit is $0 which also, of course, equals to 0 NGN (Nigerian Naira).

Regulated by:


Capital Markets Authority, based in Kenya, license number 128.


Australian Securities and Investments Commission, based in Australia, license number 147055703.


Financial Conduct Authority, based in the United Kingdom, license number 684312.

Risk warning: Remember that forex and CFDs available at Pepperstone are leveraged products and can result in the loss of your entire capital.

Please ensure you fully understand the risks involved.


Regulated and licensed in Kenya by the CMA and by global renowned authorities such as the ASIC and FCA.
Offers four world-class trading platforms including MT4, MT5, cTrader and TradingView.
A deep collection of trading instruments totalling over 1,200 assets.
Offers a raw spread account with spreads from 0.0 pips plus a small commission.


Does not support the Naira as a base account currency.



Trading assets

Pepperstone offers Nigerian clients one of the deepest collections of trading instruments. With this broker, investors have access to over 1,200 different market instruments. These include CFDs on:

  • Forex – Under this asset class, traders can trade major currency pairs, minors, and even exotics. Some examples of currency pairs available for trading include EURUSD, GBPUSD, USDCAD, CADJPY, GBPJPY, ZARJPY and USDZAR. In total, investors have access to over 60 different currency pairs on the Pepperstone trading site.
  • StocksTraders have access to shares of companies in the US, UK, AU and  German, among others, on this broker site.
  • Indices – Pepperstone offers a wide range of assets in this market. Among the most popular indices traders can trade on Pepperstone are US Tech 100, CANADA 60, US Wall Street 30 and US 2000, among others.
  • Commodities There are various assets in the commodities market available to trade on Pepperstone. These include gold, silver, oil, cotton, corn, natural gas, and more.
  • ETFs Exchange-traded funds are also available to invest in on Pepperstone. These come from a variety of markets including Asia and Pacific, North America, Africa, Emerging Markets, and others.

Available Deposit & Withdrawal Methods

A review of Pepperstone supported deposit and withdrawal methods.

Supported Platforms

A review of Pepperstone supported trading platforms.


So where does the trading take place?

Trading platforms of the broker

One attractive thing about Pepperstone that attracts customers is the fact that it provides four world-class trading platforms to choose from. The lineup of platforms includes MetaTrader 4, MetaTrader 5, cTrader, and TradingView. These platforms are customizable, intuitive, and versatile.

The MetaTrader platforms stand out as traders around the world consider them the best trading platforms. They come with a variety of tools including charting tools, backtesting tools, and different execution modes. cTrader and TradingView, on the other hand, also have attractive features and are used by a multitude of traders worldwide.

cTrader is used and trusted by more than 1 million traders worldwide and TradingView has more than 50 million users. TradingView is the most recognized charting tool among traders with its powerful technical analysis capabilities.

On top of the trading platforms offered by Pepperstone, the broker also provides a variety of trading tools to assist clients on their trading journey. These include programs such as and Autochartist for technical analysis. It also includes social trading platforms such as Myfxbook AutoTrade, MetaTrader Signals, and DupliTrade.

Screenshot taken from the official homepage of Pepperstone


I knew it will have to comes to this

Review of Pepperstone Trading fees

The fees that traders pay when trading with Pepperstone depend on the account they are using. There are two main accounts that include the Standard account and the Razor account. The Standard account primarily charges spreads that start from 1.0 pips on major currency pairs with no commission charged.

On the other hand, the Razor account has spreads that start from 0.0 pips plus a commission that depends on the platform a client uses to place orders. The Razor account charges a commission of $3.50 per side per lot on forex to traders using either the MT4 or MT5. When using cTrader and TradingView, the commission sits at $3 per side per lot on Forex.

The fees on other asset classes are also within industry standards on Pepperstone. For commodities, the spreads can go as low as 0.5 pips on Spot Silver. On Spot Gold, they are significantly higher sitting at 5.0 pips. When trading indices, the spreads start from as low as 0.16 pips for the US Volatility Index.

Another fee that traders should be aware of is the swap fees applied to positions held overnight. Pepperstone reveals the rates that it charges on its website so clients can stay updated on the fees they have to pay. Additionally, the broker avails Swap-fee accounts for Muslim traders who cannot pay overnight fees due to religious reasons.


How fast can my trade by executed?

Execution Speed and Fill Rate

The best brokers in the world offer their clients fast execution to ensure they do not miss out on trading opportunities. Financial markets are always fast-moving and prices can change in mere seconds.

As Pepperstone offers high-quality trading platforms, it is no surprise that it has some of the fastest order execution times in the market. On this broker site, most orders are executed in under 60 milliseconds which is faster than most competitors in the market.

Further, Pepperstone has a high order fill rate which sits at 99.94%. A high fill rate demonstrates the efficiency of a broker and signifies the availability of quality trading conditions. Moreover, Pepperstone uses a no-dealing desk intervention with minimal slippage, if any.

Did you know?

Pepperstone was awarded “Broker of the Year 2022” prize by, a popular trading platform.


Getting smarter every day

Educational resources, cashback rebates

Pepperstone offers clients a deep collection of educational materials that they can use to gain an edge in the market. The best way to be ahead on trading strategies is to understand how the markets work and how prices move. Moreover, educational material gives new traders the information they need to get started on their trading journey. Additionally, they can help experienced traders gain more knowledge on emerging topics and gain new strategies.

Fortunately, Pepperstone offers a wide range of educational resources for both new and experienced traders. Some of the educational resources clients can find on Pepperstone include articles, webinars, and educational videos. 

Positively, clients have access to specialized educational aids, tutorials, and exclusive insights on different trading tools and markets. The high-impact economic event coverages, expert commentaries and videos provided by Pepperstone help traders stay up to date with market developments so they do not miss out on trading opportunities.

A cash rebate is a refund or cashback given to customers who meet certain trading conditions to facilitate future trades. On Pepperstone, traders can receive forex cash rebates that are part of the company’s Active Trader program.

This forex cash rebate is paid out every day and depends on the trading volume of a trader. The larger the trading volume of a trader, the higher the cash rebate they earn. The cash rebate a trader earns is paid out straight to their account the day after closing a position so that they can put it back to use immediately.

There are three different tiers that dictate the size of the rebate a trader receives.

  • Tier 1 has traders who trade more than 100 standard lots per month. Traders in this tier receive a cash rebate of 10% per forex lot.
  • Tier 2 clients receive a cash rebate of 15% per forex lot after trading between 200 and 500 standard lots in a month.
  • Tier 3 traders are those that trade more than 500 standard lots in a month. Tier 3 traders have to contact their premium client manager for more information on rebates.

To remain in this Active Trader program, clients must meet volume requirements over a 3-month period.


Can I get some help here?

Pepperstone Customer Support

Traders should only invest with brokers that have reliable customer support. Most top-tier brokers offer their clients quick responses to any questions they have. For any company that handles people’s money, reliable customer support should be a guarantee. Pepperstone has various channels that clients can use to reach the support team.

First, traders can use the live chat feature 24 hours a day, 5 days a week.

Clients can also reach out to the custom support team through the company’s support email, While there is no local line for Nigerian traders, there is an international number available to call. Traders can call the support team via +44-(800)-0465473, which incurs international call rates. As such, traders should probably try using other channels unless it’s an urgent matter.


Can I trade like this?

API Trading & Trading Strategies Allowed

API stands for Application Programming Interface and it is a set of rules and protocols that determine how information is shared between communicating applications. The Pepperstone API helps traders link their portfolios with automated trading tools giving them an opportunity to trade around the clock.

Additionally, it allows traders with technical skills to develop their own custom-built systems. With the API, traders can connect with external sources that allow them to see the depth of the market and access multiple liquidity providers ensuring the best pricing.

  • Scalping Allowed – Yes.
  • EAs Allowed – Yes
  • Hedging Allowed – Yes

Pepperstone in head-to-head with Nigerian leading competitors

Features Pepperstone Exness
📊 Forex pairs 60+ 100+ 50+
🔎 Number of all assets 1,200+ 200+ 1,000+
💰 Spreads (from) 1 pip 0.3 pips 1.0 pip
⚖️ Max. leverage: 1:400 1:Unlimited 1:1000
🔥 Special features: Razor Account
4 Trading platforms
NGN Base account currency No- Deposit bonus
(T&C Apply)

Expert’s critical opinion

from the author of this Pepperstone Review

Pepperstone offers Nigerian traders more than 1,200 trading instruments with an ECN intervention model. It offers a fairly high leverage to Nigerian traders that can deploy it to control larger positions on leveraged markets. Interestingly, Nigerian traders can start investing with as little money as they have as this broker does not have a minimum deposit requirement.

To fully understand how well this broker serves Nigerian traders, we must compare it to other reputable companies that serve Nigerian traders. In this case, we are going to pin Pepperstine against XM and Exness. In terms of regulations, all three of these companies have licenses from reputable organizations around the world as summarized in the table above. Pepperstone has 7 licenses including the CMA in Kenya, the FCA in the UK, the CySEC in Cyprus, and the ASIC in Australia.

In terms of the collection of assets, Pepperstone hangs well with competing brokers. It beats out both XM and Exness by providing slightly more than 1,200 different assets to trade. In contrast, Exness and XM only provide 200+ and 1,000+ assets respectively.

As Pepperstone does not have a minimum deposit requirement, it means that traders can start investing with as little money as they have. Consequently, its entry point is low compared to XM which accepts a minimum deposit of $5 and Exness which accepts a minimum of $10. This gives Pepperstone a slight but probably insignificant advantage since all 3 brokers have very low minimum deposit requirements.

The spreads offered by a broker play a big role and affect a trader’s choice immensely. With Pepperstone, traders trade major currency pairs with spreads that range between 1.0 pips to 1.59 pips. However, XM and Exness both offer slightly lower spreads. On its XM Ultra Low account, XM’s spreads start from as low as 0.6 pips for major currencies. On Exness, the spreads on the standard account start from as low as 0.3 pips for major currencies. 

Both Pepperstone and Exness allow their clients to trade on accounts with spreads from 0.0 pips plus small commissions paid. Specifically, Pepperstone’s Razor account requires a commission of $3.5 per side per lot and Exness’ Raw Spread account requires a similar commission of $3.5 per side per lot.

Peter Cook Ndungo

Editor, Senior Broker Analyst