Recalculated 2026-11-02 · Established 2010 · Pepperstone Markets Kenya Limited
Pepperstone — South Africa
Pepperstone is rated 3.29 out of 5 by our formula (Rank #31 of 70) for traders in South Africa: round turn 7 USD, residents accepted — Through an offshore entity.
Suits you if a swap-free account is available · it runs 5 trading platforms · it has been trading for 16 years
Look elsewhere if the minimum is 200 USD against 50 USD in this market · it holds no licence issued in South Africa · you are onboarded by an offshore entity, not a local one
Key facts (8)
- Who actually onboards you
- Pepperstone Markets Kenya Limited
- Licence number
- 128
- Established
- 2010group
- Min deposit, USD
- 200 USDgeo
- Platforms
- MT4 · MT5 · cTrader · TradingView
- Local funding
- ZAR deposits via bank transfer and Visa/Masterca
- Max leverage
- 400geo
- EURUSD
- 1 pipsgroup
Accounts (3)
3 of 3 accounts with a published cost per lot
3 of 3 shown
Click a column heading to sort. Figures are list terms, no promo codes.
| Broker · account | Min deposit, USD | Spread | Commission | Cost per lot | Swap-free |
|---|---|---|---|---|---|
| PepperstoneStandard | 0 | 1advertised | Anyper standard lot | 10round turn, USD | — |
| PepperstoneRazor | 0 | 0advertised | 7per standard lot | 7round turn, USD | — |
| PepperstoneStandard account (swap-free) | — | 1.1advertised | Anyper standard lot | 11round turn, USD | Swap-free |
This broker against the South Africa middle (81 of 104)
| Pepperstone | South Africa median | |
|---|---|---|
| Round turn, USD | 7.0 USD | 7.0 USD |
| Min deposit, USD | 200 USDgeo | 50.0 USD |
| Max leverage | 400geo | 500.0geo |
| Withdrawal, h | 1 business daygroup | 24.0 h |
| EURUSD, standard | 1 pipsgroup | 1.0 pips |
| EURUSD, raw | 0 pipsgroup | 0.0 pips |
| Established | 2010group | 2009.0 |
| Platforms | 5 | 3.0 |
Onboards residents through an offshore entity
Offshore (CMA Kenya); no FSCA licence and no South African statutory investor-compensation scheme.
56 of 104 brokers in our base hold a licence issued in South Africa. That is a fact about the market, not about Pepperstone.
- Who actually onboards you
- Pepperstone Markets Kenya Limited
- Licence number
- 128
- Local licence
- no
- Checked
- 2026-07-09
Score (6/6 axes)
A weighted average of the axes below. Each axis is measured on the same scale as the score itself, and carries the weight shown beside it.
Check:25.0% × 3.75+ 20.0% × 4.50+ 20.0% × 0.50+ 15.0% × 4.00+ 10.0% × 4.00+ 10.0% × 3.50= 3.29
Ranked against brokers measured on every axis
Licence check
- Licence number
- 128
- Checked
- 2026-07-09
Who actually onboards you
Pepperstone Markets Kenya Limited
Offshore entity
South African clients are onboarded under the offshore entity Pepperstone Markets Kenya Limited (CMA), per 2026 SA reviews; Pepperstone Group is not FSCA-authorised.
What each account gives you
Standard (spread-only, no commission) and Razor (raw-spread ECN + commission from ~USD 3.50/lot per side); no minimum de
Cost per round turn, and the South Africa middle (81 of 104)
raw+commission
Client-money protections
No minimum deposit (USD 200 recommended); no broker-side deposit/withdrawal fees.
What the broker publishes about payouts
Trading software and asset classes (5)
MT4 · MT5 · cTrader · TradingView · Pepperstone's proprietary TradingView-powered platform
1,200+ instruments: 90+ forex pairs, indices, commodities/metals, share CFDs, ETFs and crypto CFDs.
Reviews
Evaluating 434 reviews
Where it wins, where it loses
Pros (2)
- Swap-free account available
- Withdrawal published at 1 business day
Cons (2)
- Round turn 7.0 USD against a South Africa median of 7.0
- No local licence: the client is onboarded by a foreign entity
Where it does not serve
Samoa, Armenia, Belarus, Belize, Bhutan, Bosnia and Herzegovina, Cameroon, Canada, Chad, Congo, Cote dIvoire, Eritrea, Kazakhstan, North Korea, South Korea, Guinea-Bissau, Guyana, Liberia, Mali, New Zealand, Nicaragua, Iran, Guinea, Iraq, Democratic Republic of the Congo, افغانستان, Guam, Suriname, United States, Somalia, Puerto Rico, Belgium, Russian Federation, Turkmenistan, Venezuela, Yemen, Sy
Methodology
the weighted mean of six axes, each on the same 0–5 scale · reviews 25%, cost 20%, safety 20%, payouts 15%, track_record 10%, platforms 10%
Sources (3)
3 sources, read on 2026-07-09. Ordered by weight of evidence: regulator registers first, then the broker's own documents, review platforms and aggregators.
- The broker's own documents
- 1pepperstone.com/enpepperstone.com · pageBroker
- Aggregators and directories
- 2fxscouts.co.za/broker/pepperstonefxscouts.co.za · pageAggregator
- 3sashares.co.za/pepperstone-reviewsashares.co.za · pageAggregator
FAQ (5)
Does Pepperstone accept residents of South Africa?
Through an offshore entity.
Which entity onboards a South Africa client of Pepperstone?
Pepperstone Markets Kenya Limited
What licence does Pepperstone hold for South Africa?
Licence 128.
What does one EURUSD lot cost at Pepperstone?
7.0 USD per round turn against a South Africa median of 7.0 USD, measured on 81 of 104 brokers.
How long does a withdrawal from Pepperstone take?
Pepperstone publishes 1 business day. Their own wording: “Withdrawal requests are usually processed within 1 business day”.