Is Pepperstone a Market Maker Broker?

logomark Luca Puddu calendar Last Updated: November 2021 timer 5 min read
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One of the most important things to find out more about when you trade with any broker is their execution method.

When it comes to Pepperstone, we’ve got you covered.

Is Pepperstone a market maker or is Pepperstone an ECN broker? You will find out exactly that answer in our useful guide where we discuss the questions in depth.

Let’s get started!

Table of contents

Is Pepperstone a Market Maker or an ECN broker?

Pepperstone is an ECN broker with STP features. What this means is that they always operate as an NDD (No Dealing Desk) broker. This type of service is respected and recognized as one of the best for traders that can offer an excellent combination of great pricing and speedy execution.

Among the brokers offering this type of service, Pepperstone is known as one of the best. You can check it out for yourself if you Open a free Pepperstone ECN demo account which is completely risk-free.

Pepperstone ECN and STP execution: How does it work?

Answering the question of, Is Pepperstone a market maker? Let’s take a closer look at how they actually operate.

Despite the fact that Pepperstone has authorization to be a market maker on their AFS license, they choose to operate as an ECN/STP broker. This allows them to link you as a trader directly to the market and their liquidity providers thanks to the absence of any dealing desk. You will have some of the most direct access possible.

At the broker, you will find 2 account types on offer. These are the Standard, and Razor Account which functions as a real ECN Account. The spreads, particularly those found with the Razor account are some of the best in the industry even though a commission is added. This combines with some of the fastest execution speeds around to form an excellent all-around offering.

The trading details of Pepperstone

Pepperstone Account Execution Methods

As we mentioned when analyzing is Pepperstone an ECN broker above, they do offer two types of accounts. These are the Standard Account, and Razor Account with the Razor Account being a dedicated ECN Account.

With that said, there are a few differences you may notice between the two account types. These start with the spread which can be from 0 pips with a Razor Account, but starts from 1 pip through a Standard Account. You do have to consider though that a $7 round-turn commission is charged to compensate for these excellent spreads only on the Razor Account.

In all, both accounts can provide great conditions for trading with low spreads and no minimum deposit required on either account. Both also have access to very deep liquidity and extremely fast order execution with hardly any incidents of slippage, particularly with the Razor Account.

You can see a breakdown of some of these key details listed below:

Pepperstone accounts Pepperstone Standard Pepperstone Razor
Avg Spread Forex 1.13 pips 0.13 pips
Demo 30 days 30 days
Minimum Deposit* $0 $0

*$200 suggested by Pepperstone

Pros and cons of the Pepperstone execution method


  • A lightning-fast execution speed of up to 30ms is offered
  • Pepperstone links you very directly and transparently with many top liquidity providers
  • You’ll get the best possible prices on assets with the lowest spreads
  • You’ll find the cTrader platform, which is considered one of the best for ECN trading


  • The ECN Razor Account does charge a $7 round-turn commission
  • The Standard Account has a higher starting spread from 1 pip

Closing Remarks on the Pepperstone execution method

Overall, Pepperstone is one of the very best ECN/STP brokers in the industry. They have a great, long standing reputation and have some of the top regulatory oversight in place. They are regulated by no less than 6 regulators in ASIC, FCA, DFSA, SCB, CMA, and CySEC.

For even more information on the secure, trusted trading environment at the broker, feel free to check out our is Pepperstone safe guide.

Beyond these core points, the Razor Account at Pepperstone has won acclaim across the industry as one of the best possible ECN account choices you can make. This combines the lightning-fast execution speed with really low spread from 0 pips, and ultimately the transparency with which they operate, being second to none.

Of course, there are many great choices out there and we have a dedicated post about the best ECN forex brokers you can find, but the Pepperstone Razor account even with the $7 round turn commission, is undoubtedly one of the best and with unparalleled deep liquidity access among other excellent features.


Is Pepperstone an ECN broker?

Yes, Pepperstone is an ECN/STP broker and one of the very best at that. For more details about every aspect of the broker, you are welcome to read our full Pepperstone review.

Is Pepperstone a Market Maker?

No, Pepperstone is not a market maker. Although they would be authorized through their licensing to act as a market maker, this is not something they do. They are considered to be an ECN/STP broker only.

Does Pepperstone allow scalping?

Yes. Scalping is permitted on all the account types, but the Razor Account is the best fit for this type of trading due to the extremely low spreads and lightning-fast execution on offer.

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About the Author

Luca Puddu

Broker Expert

Always full of different interests, Luca started to get interested in the field of personal finance in 2014.

His self-taught studies led him year by year to become increasingly interested in the investment field.

To date, Luca actively invests in the stock market and cryptocurrencies, focusing on rising markets and the industries of the future.

His main role at is to analyze and study in the smallest detail the brokers and their platforms, while checking carefully that the information shown by them is genuine.

In this way, he provides readers with a complete and truthful overview of the broker they might be interested in.

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