Pepperstone is a well-established global broker founded in 2010, primarily known for forex and CFD trading[reference:0]. In recent years, the firm has expanded into the cryptocurrency space through two distinct offerings: crypto CFDs (available globally to eligible clients) and a dedicated spot crypto exchange called Pepperstone Crypto (currently available to Australian clients)[reference:1].
Understanding the difference between these two products is essential. Crypto CFDs are derivative instruments — you speculate on price movements without owning the underlying asset[reference:2]. The spot exchange, by contrast, allows you to buy and hold actual cryptocurrencies[reference:3]. Each carries different risks, costs, and regulatory considerations.
A cryptocurrency CFD (Contract for Difference) is a derivative that tracks the price of an underlying crypto asset. You do not own the cryptocurrency itself — you are speculating on whether its price will rise or fall[reference:6].
Perpetual CFDs have no fixed end date — you can hold a position indefinitely as long as your margin supports it[reference:13]. Instead of an expiry, they use a funding rate that is published weekly and applied daily, so you know your holding cost in advance[reference:14]. This product is designed to give traders continuous access without the friction of contract rollovers[reference:15].
In early 2026, Pepperstone launched a dedicated spot cryptocurrency exchange under the brand “Pepperstone Crypto”[reference:16]. This is a separate product from its CFD offering and represents a significant expansion into the crypto ecosystem.
Pepperstone has partnered with Fireblocks, an enterprise digital asset platform, to provide custody, compliance, and DeFi execution[reference:24]. Fireblocks' MPC (Multi-Party Computation) technology secures private keys without a single point of failure[reference:25]. This institutional-grade infrastructure is designed to meet the high standards required by Pepperstone's multiple regulatory licenses[reference:26].
Understanding the cost structure is critical to evaluating whether Pepperstone's crypto offering is right for you.
Pepperstone offers competitive spreads on its crypto CFDs. As of mid-2026, average spreads are $15 on BTCUSD and $2 on ETHUSD[reference:28][reference:29]. These are indicative and may vary based on market conditions and platform[reference:30].
Pepperstone Crypto charges a flat 0.1% fee on all spot trades, regardless of volume or asset[reference:31][reference:32]. There is no tiered structure for high-volume traders, and no native exchange token for discounts[reference:33]. During promotional periods (e.g., through June 2026), the fee was temporarily reduced to 0%[reference:34].
Fees, spreads, and promotions are time-sensitive. Always check Pepperstone's official website for the most current pricing.
Leverage allows you to control a larger position with a smaller amount of capital. However, it also amplifies both potential gains and losses.
For retail clients in many jurisdictions, Pepperstone offers up to 2:1 leverage on cryptocurrency CFDs[reference:39][reference:40]. This is relatively modest compared to forex leverage (which can be 400:1 or higher) and is designed to limit the extreme risk associated with crypto volatility.
Professional traders (Pro accounts) have access to a dynamic leverage tiering system that adjusts automatically based on trade size[reference:41][reference:42]:
Pepperstone offers a broad selection of cryptocurrencies across its CFD and spot products, though the specific assets vary by product and region.
Pepperstone provides access to 31 cryptocurrency CFDs, including Bitcoin, Ethereum, and a wide range of altcoins[reference:44]. The lineup has expanded significantly, with 14 new USD crosses added in mid-2026[reference:45], including Pepe (PEPE), Shiba Inu (SHIB), Bonk (BONK), and others[reference:46][reference:47].
Additional crypto CFDs added include Render, Hedera (HBAR), Sui, Toncoin, Hyperliquid, Artificial Superintelligence Alliance, and Injective[reference:48].
Pepperstone Crypto launched with five assets: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), USDC, and USDT[reference:49]. By mid-2026, the platform supported more than 100 coins, with a subset available as full spot trading pairs[reference:50]. All pairs are denominated in AUD[reference:51].
Product availability, leverage, and asset lists vary by jurisdiction[reference:52]. Always check what is available in your country before opening an account.
Pepperstone is one of the most heavily regulated brokers in the world, holding licenses in eight jurisdictions[reference:53][reference:54].
Client funds are held in segregated Tier-1 bank accounts, a requirement of its regulatory licenses[reference:62]. This means your trading capital is kept separate from Pepperstone's operational funds, providing an additional layer of protection in the event of insolvency.
Pepperstone offers negative balance protection, ensuring that you cannot lose more than your account balance[reference:63]. This is particularly important when trading with leverage.
This table summarizes the key differences between Pepperstone's two crypto offerings.
| Feature | Crypto CFDs | Pepperstone Crypto (Spot) |
|---|---|---|
| Product type | Derivative (CFD) | Spot cryptocurrency |
| Ownership of asset | No — speculate on price | Yes — you own the crypto |
| Availability | Global (eligible jurisdictions) | Australia only |
| Currency pairs | USD-based (BTC/USD, ETH/USD, etc.) | AUD-based |
| Fees | Spreads + swap rates | Flat 0.1% fee |
| Leverage | Up to 2:1 (retail), higher for Pro | None (spot trading) |
| Wallet required | No | No (custodial) |
| Regulatory oversight | ASIC, FCA, CySEC, etc. | ASIC (Australia) |
| Custody | N/A (no asset held) | Fireblocks MPC custody |
📌 Takeaway: Choose CFDs if you want leverage, short-selling, and global access. Choose the spot exchange if you want to own actual crypto, prefer AUD pairs, and are based in Australia. Both carry significant risks.
Before trading with Pepperstone, run through this checklist to ensure you understand the risks and costs.
If you cannot confidently answer at least six of these questions, pause and do more research before trading.
Let's walk through a hypothetical evaluation to illustrate the decision-making process.
Alex is a trader based in Australia with $10,000 in risk capital. He wants to trade Bitcoin and Ethereum, and is considering Pepperstone.
Alex decides to open an account with Pepperstone Crypto. He starts with a small test trade to verify the deposit, trading, and withdrawal processes before committing larger amounts. He understands that while Pepperstone is well-regulated, the crypto market remains volatile and he could lose money.
This guide is educational only. It does not constitute financial, legal, or tax advice. You are solely responsible for your trading decisions.
Never trade with money you cannot afford to lose entirely. Before trading, ensure you fully understand how CFDs work, the risks involved, and the costs associated with the platform. Always verify current fees, spreads, leverage, and product availability directly on Pepperstone's official website.
Pepperstone is well-regulated, holding licenses from tier-1 regulators including ASIC, FCA, and CySEC[reference:78]. Client funds are held in segregated accounts[reference:79]. However, safety does not mean risk-free — CFD trading carries a high risk of loss, and 80% of retail traders lose money[reference:80].
Pepperstone CFDs are derivatives that let you speculate on crypto prices without owning the underlying asset[reference:81]. Pepperstone Crypto is a spot exchange where you can buy and hold actual cryptocurrencies[reference:82]. The CFD product is available globally; the spot exchange is Australia-only[reference:83].
For CFDs, costs are embedded in spreads (e.g., $15 on BTCUSD) plus swap rates for overnight positions[reference:84]. For the spot exchange (Australia), Pepperstone charges a flat 0.1% trading fee[reference:85]. Withdrawals are generally free, though network fees may apply[reference:86].
Yes, Pepperstone offers leverage on crypto CFDs — up to 2:1 for retail clients in many jurisdictions[reference:87]. Professional traders may have access to higher leverage through a dynamic tiering system[reference:88]. Leverage is not available on the spot exchange.
Pepperstone offers 31 crypto CFDs, including Bitcoin, Ethereum, and a range of altcoins[reference:89]. The spot exchange (Australia) supports over 100 coins, with trading pairs denominated in AUD[reference:90].
No. Pepperstone Crypto (the spot exchange) is currently available exclusively to Australian clients[reference:91][reference:92]. Clients outside Australia can access Pepperstone's crypto CFD offering, subject to local regulations.
A perpetual CFD is a derivative contract with no expiry date[reference:93]. Instead of an expiry, it uses a weekly funding rate that is applied daily[reference:94]. This allows you to hold a position indefinitely as long as your margin supports it[reference:95].
Spreads and fees can change. Always check Pepperstone's official website for the most up-to-date pricing. Live prices on the platform are indicative only — confirm the current spread before placing a trade[reference:96].