Pepperstone
Pepperstone is an Australian foreign-exchange and contracts-for-difference broker operating through regulated entities in multiple international markets.
Last updated August 31, 2026
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Overview
Pepperstone is an Australian online brokerage brand founded in Melbourne in 2010 by Owen Kerr and Joe Davenport. It provides retail and institutional trading access to foreign exchange, contracts for difference (CFDs), shares, commodities and other financial instruments through electronic trading platforms. The business operates internationally through locally regulated subsidiaries and offices in Australia, the United Kingdom, Germany, Cyprus, the United Arab Emirates, Kenya and the Bahamas. The company began building its regulatory footprint after its foundation. It obtained an Australian Financial Services Licence from the Australian Securities and Investments Commission in February 2013. In 2014, it was ranked first on the BRW Fast Starters list, with reported revenue of approximately A$60 million and substantial year-on-year growth. It subsequently expanded its regulatory coverage, including authorization by the UK's Financial Conduct Authority in 2015, after already obtaining permissions connected with the Dubai and Bahamian markets. Ownership changed during the company's expansion. In 2016, Pepperstone sold a majority interest to Champ Private Equity, later known as CPE Capital. Champ subsequently exited its investment in 2018 through a transaction involving Tamas Szabo and Fiona Lock. Pepperstone remained a privately held brokerage rather than becoming a publicly listed company. The ownership transaction later became the subject of litigation between shareholder groups, separate from the firm's client-facing trading operations. Brexit required Pepperstone to adjust its European structure because a UK authorization could no longer by itself support unrestricted service provision across the European Union. The group established or expanded regulated operations in Germany and Cyprus, including authorization from BaFin and CySEC by 2020. Its broader regulatory network also includes ASIC in Australia, the FCA in the United Kingdom, the DFSA in Dubai, the Capital Markets Authority in Kenya, and the Securities Commission of the Bahamas. Pepperstone's offering is centered on leveraged online trading. Its platforms have included MetaTrader, cTrader and TradingView, with access to currency pairs, CFD instruments and selected share markets. In June 2024, the company introduced 24-hour CFD trading on US shares through its trading platforms. The brand has also developed a substantial sponsorship and marketing presence, particularly in tennis, football, mixed martial arts and Formula One. Its partnerships have included the Association of Tennis Professionals, the Asian Football Confederation, Geelong Football Club, Adelaide Strikers, the Ultimate Fighting Championship in Asia and the Aston Martin Aramco Formula One team. The broker has also faced regulatory and reputational issues. ASIC identified Pepperstone in 2014 as having served Japanese clients without the required Japanese authorization, leading to an orderly withdrawal from that market. In 2020, Brazil's securities regulator directed the firm to stop offering services in Brazil without local authorization. In 2023, Pepperstone was among CFD brokers identified by ASIC as having breached leverage restrictions introduced under Australia's retail-CFD product intervention regime. The company attributed the incident to a technical error, self-reported the issue and undertook remediation for affected customers. These matters illustrate the regulatory complexity of Pepperstone's cross-border business model. The company remains an active global online broker, with its business shaped by licensing requirements, platform development, leveraged-product regulation and international brand partnerships.
History
Pepperstone was established in Melbourne in 2010 by Owen Kerr and Joe Davenport as an online foreign-exchange and CFD broker. Its initial proposition was built around electronic access to leveraged markets, supported by third-party trading platforms and a business model designed to serve clients across multiple jurisdictions. The company expanded before completing its principal Australian licensing process: ASIC granted it an Australian Financial Services Licence in February 2013. The broker experienced rapid early growth. In 2014 it was ranked first in the BRW Fast Starters list, with reported revenue of about A$60 million and strong growth. That year also brought a regulatory setback. ASIC identified that Pepperstone had been operating in Japan without authorization from the Japanese Financial Services Agency. Japan had reportedly been one of the firm's most valuable overseas markets, but the company notified Japanese clients that they could withdraw funds only during a defined transition period and subsequently left the market. International licensing remained central to Pepperstone's development. By the middle of the decade, the firm had regulatory permissions connected with the United Arab Emirates and the Bahamas, and in 2015 it obtained authorization from the UK's Financial Conduct Authority. In 2016, it sold a majority stake to Champ Private Equity. Pepperstone later encountered a UK compliance-related interruption, temporarily suspending trading for UK clients in February 2017. Champ exited in 2018, selling its interest to Tamas Szabo and Fiona Lock. Pepperstone thereafter remained privately owned. Brexit changed the structure of the group's European business. A UK FCA license could no longer by itself provide the same basis for servicing customers throughout the European Union. Pepperstone responded by building regulated entities in continental Europe, securing authorization from Germany's BaFin and Cyprus's CySEC by 2020. It also extended its presence in Kenya and the UAE and maintained an international network involving Australia, the United Kingdom, Germany, Cyprus, Dubai, Kenya and the Bahamas. Offices have been associated with Melbourne, London, Düsseldorf, Dubai, Limassol, Nassau and Nairobi. The company's product range has remained focused on forex and CFDs, including instruments linked to shares, commodities and other asset classes. Clients have been offered access through MetaTrader, cTrader and TradingView. In June 2024, Pepperstone broadened its share-CFD availability by introducing 24-hour trading on US shares through those platforms. The company also joined the Financial Commission as an Approved Broker Member in 2022. Brand development has increasingly relied on sports sponsorship. In 2022, Pepperstone signed a global agreement with the Association of Tennis Professionals and received naming rights for the ATP rankings. Those ranking rights later moved to the Saudi Arabian Public Investment Fund. In 2024, Pepperstone expanded into partnerships involving the Asian Football Confederation, Geelong Football Club, Adelaide Strikers and UFC Asia, while appointing John McEnroe as a global tennis ambassador. In January 2025, it announced a multiyear arrangement with the Aston Martin Aramco Formula One team. Regulatory scrutiny has continued alongside the company's expansion. In May 2020, Brazil's CVM ordered Pepperstone to stop offering services to Brazilian residents without local authorization, alleging that the firm had solicited clients through its website and social media. In November 2023, ASIC identified Pepperstone as one of seven CFD providers that had failed to comply with leverage limits imposed under Australia's 2020 retail-product intervention rules. Pepperstone said a technical error had allowed some retail customers to trade at excessive leverage, self-reported the matter and undertook a remediation process affecting more than 1,500 customers. The firm's ownership history also generated later litigation. In 2026, FX Group Holdings, whose shareholders included Tamas Szabo, Fiona Lock and former director Andrew Defina, was ordered to pay A$96.9 million plus interest to Champ Private Equity, subsequently known as CPE Capital, in a dispute connected with the 2018 buyout. Pepperstone stated that the litigation concerned current and former shareholders and did not affect its operations, customers or trading activities. Pepperstone remains an active, privately held international broker whose development has been defined by regulatory licensing, cross-border restructuring, platform expansion and sports-led brand marketing.
- 2025
Aston Martin Formula One partnership announced
[1]Pepperstone signed a multiyear sponsorship agreement with the Aston Martin Aramco F1 Team.
- 2024
24-hour US share-CFD trading introduced
[1]The firm launched around-the-clock CFD trading on US shares through cTrader, MetaTrader and TradingView.
- 2022
Financial Commission membership and ATP partnership
[1]Pepperstone became an Approved Broker Member of the Financial Commission and entered a global ATP sponsorship agreement.
- 2020
European Union licensing expanded
[1]Pepperstone secured regulatory coverage in Germany and Cyprus following the effects of Brexit on cross-border UK services.
- 2018
Champ exited the investment
[1]Champ sold its Pepperstone stake to Tamas Szabo and Fiona Lock.
- 2016
Majority stake sold to Champ Private Equity
[1]Pepperstone brought in private-equity ownership during its international growth phase.
- 2015
UK FCA authorization
[1]The company expanded its regulated presence by obtaining a UK Financial Conduct Authority license.
- 2014
Early growth and Japanese-market exit
[1]Pepperstone topped the BRW Fast Starters ranking and withdrew from Japan after an authorization issue identified by ASIC.
- 2013
Australian financial-services license granted
[1]ASIC granted Pepperstone an Australian Financial Services Licence.
- 2010
Pepperstone founded in Melbourne
[1]Owen Kerr and Joe Davenport established the online forex and CFD brokerage.
Products and positioning
A digitally focused, internationally regulated broker positioned around online forex and CFD execution, broad platform choice and access to leveraged markets.
Foreign exchange · 2010
Forex trading
Pepperstone's core offering is online trading in foreign-exchange pairs through electronic platforms. The service is provided through regulated entities in different jurisdictions, with the available instruments, leverage, protections and client eligibility determined by the applicable local rules.
Contracts for difference · 2010
CFD trading
The broker offers contracts for difference linked to multiple asset classes, including indices, commodities, shares and cryptocurrencies. CFDs allow clients to speculate on price movements without owning the underlying asset, while leverage and other product conditions vary according to regulation and account classification.
Share CFDs · 2024
US share CFDs
Pepperstone provides CFD exposure to selected US shares. In June 2024, it added 24-hour trading for US share CFDs on cTrader, MetaTrader and TradingView, extending availability beyond conventional exchange-session hours.
Trading platforms
MetaTrader, cTrader and TradingView access
Pepperstone distributes its brokerage services through established third-party trading environments, including MetaTrader, cTrader and TradingView. These platforms provide charting, order management and market-analysis functions, while the precise product menu depends on the client's Pepperstone entity and jurisdiction.
Controversies
2026
Litigation over the 2018 buyout
FX Group Holdings was ordered to pay A$96.9 million plus interest to CPE Capital in litigation concerning the earlier Pepperstone ownership transaction. Pepperstone said the dispute was between shareholder groups and did not affect its operations or customers.
2023
Retail-CFD leverage-limit breach
ASIC identified Pepperstone among brokers that breached Australian leverage limits introduced under a retail-CFD product intervention order. Pepperstone said a technical error enabled excessive leverage for some retail clients and undertook compensation and remediation for more than 1,500 affected customers.
2020
Brazilian authorization dispute
Brazil's CVM ordered Pepperstone to stop offering brokerage services in Brazil without local authorization, alleging that it had attracted Brazilian clients through digital channels.
2014
Unlicensed Japanese operations
ASIC identified Pepperstone as having operated in Japan without authorization from the Japanese Financial Services Agency. The firm notified Japanese customers and arranged an exit from the market.
Marketing campaigns
- 2025Aston Martin Aramco Formula One sponsorship
Global
Pepperstone entered a multiyear sponsorship agreement with the Aston Martin Aramco Formula One team to increase international brand visibility.
- 2024International sports partnership expansion
Asia · Australia · Global
Pepperstone announced an Asian Football Confederation partnership, appointed John McEnroe as a global tennis ambassador, partnered with Geelong Football Club and Adelaide Strikers, and sponsored UFC activity in Asia.
- 2022ATP partnership and Pepperstone ATP Rankings
Global
Pepperstone became a global sponsor of the Association of Tennis Professionals and received naming rights for the official ATP rankings.
Outcome. The ranking naming rights were later transferred to the Saudi Arabian Public Investment Fund after February 2024.
Brand decisions
2024
Launch of 24-hour US share-CFD tradingProduct launchBackground
Demand for extended-hours access and the growth of share-based trading created an opportunity to broaden the broker's CFD service.
Action taken
Pepperstone introduced 24-hour CFD trading on US shares through cTrader, MetaTrader and TradingView.
Aftermath
The change expanded the trading window for selected US equity-linked products, subject to the terms and regulatory conditions of each Pepperstone entity.
2020
Post-Brexit European restructuringStrategyBackground
Pepperstone could no longer rely solely on its UK authorization to serve customers throughout the European Union after Brexit.
Action taken
The group expanded its regulated European structure through licenses and entities in Germany and Cyprus.
Aftermath
Pepperstone retained a route to serving EU customers while operating under additional national and European regulatory requirements.
2017
Temporary suspension of UK client tradingStrategyBackground
Pepperstone needed to comply with obligations associated with its UK FCA-regulated operation.
Action taken
The firm temporarily suspended trading for UK clients in February 2017.
Aftermath
The episode highlighted the operational consequences of regulatory compliance for a leveraged-trading broker.
2016
Sale of majority interest to Champ Private EquityM&ABackground
Pepperstone was expanding internationally and sought a new ownership structure during its growth phase.
Action taken
The founders and existing owners sold a majority stake to Champ Private Equity.
Aftermath
Champ remained involved until its exit in 2018, when the stake was sold to Tamas Szabo and Fiona Lock.
2014
Exit from JapanStrategyBackground
ASIC identified that Pepperstone had been serving Japanese clients without authorization from Japan's financial regulator.
Action taken
Pepperstone notified affected clients that they could withdraw funds during a limited transition period and discontinued its Japanese offering.
Aftermath
The withdrawal removed one of the company's most lucrative overseas markets while reducing its exposure to Japan's licensing requirements.
Recent events
- 2025
Pepperstone signed an Aston Martin Formula One sponsorship[1]
Campaign
Pepperstone entered a multiyear sponsorship agreement with the Aston Martin Aramco Formula One team.
- 2024
Pepperstone launched 24-hour trading on US share CFDs[1]
Product launch · Product generation
The broker introduced round-the-clock CFD trading on US shares through cTrader, MetaTrader and TradingView.
- 2024
Pepperstone expanded its sports partnership portfolio[1]
Campaign
The company announced an Asian Football Confederation partnership, appointed John McEnroe as a global tennis ambassador, partnered with Geelong Football Club and Adelaide Strikers, and became a UFC sponsor in Asia.
- 2022
Pepperstone became an Approved Broker Member of the Financial Commission[1]
Regulation
The company joined the Financial Commission, a private dispute-resolution and self-regulatory organization serving the financial-services sector.
- 2022
Pepperstone signed a global ATP sponsorship[1]
Campaign
Pepperstone became a global partner of the Association of Tennis Professionals and obtained naming rights for the official ATP rankings.
- 2020
Pepperstone expanded its European regulatory structure[1]
Regulation
The group obtained or established regulated operations in Germany and Cyprus to maintain European Union coverage after Brexit.
- 2018
Champ exited its Pepperstone investment[1]
M&A
Champ Private Equity sold its interest in a transaction involving Tamas Szabo and Fiona Lock.
- 2017
Pepperstone temporarily suspended UK client trading[1]
Regulation
The firm temporarily suspended trading for UK clients while addressing obligations associated with its FCA-regulated operations.
- 2016
Champ Private Equity acquired a majority interest[1]
M&A
Pepperstone sold a majority stake to Champ Private Equity as the broker continued its international expansion.
- 2015
Pepperstone received UK FCA authorization[1]
Regulation
The brokerage expanded its regulated international structure by obtaining authorization from the UK's Financial Conduct Authority.
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