Leverage at Pepperstone depends on two things: the company you join and whether you are a retail or professional client. For the Bahamas company, Pepperstone Markets Limited, retail clients get up to 1:200 on forex, gold and major indices. Pepperstone Pro clients can go to 1:500 on most of those markets, and up to 1:1000 on forex and gold.

Clients of Pepperstone's UK, EU and Australian companies get the lower limits set by the FCA, ESMA rules and ASIC, which cap major forex pairs at 1:30 for retail traders. Kenyan clients of Pepperstone Markets Kenya can go up to 1:400, depending on the instrument.

Retail forex and gold1:200
Retail major indices1:200
Retail shares and Bitcoin1:20
Pro forex and goldUp to 1:1000
Stop-out (MT4/MT5)Equity at 50% of required margin
CompanyPepperstone Markets Limited, SCB Bahamas

Retail and Pro limits by market

Retail and Pro limits by market. Major and minor forex: 1:200: 1:500 (up to 1:1000 on the first USD 1m); Gold: 1:200: 1:500 (up to 1:1000 on the first USD 1m); Major indices: 1:200: 1:500; Minor indices: 1:100: 1:100; Other metals: 1:10: 1:50; Commodities (excluding gold): 1:50: 1:50; Energies: 1:20: 1:20; Shares: 1:20: —
Retail and Pro limits by market: the figures from this section at a glance.
MarketRetailPro
Major and minor forex1:2001:500 (up to 1:1000 on the first USD 1m)
Gold1:2001:500 (up to 1:1000 on the first USD 1m)
Major indices1:2001:500
Minor indices1:1001:100
Other metals1:101:50
Commodities (excluding gold)1:501:50
Energies1:201:20
Shares1:20—
Bitcoin and Ether1:201:500

From Pepperstone's costs page, its Pro page and the Bahamas tiered-margin tables dated September 2026. The tables can change without notice, so check the current version in Pepperstone's legal documents.

Tiered margins on big positions

Pepperstone uses tiered margin: the first part of a position is margined at the lowest rate, and only the part above each threshold pays the higher rate. For retail clients, EUR/USD is margined at 0.5% (1:200) up to USD 20 million of notional value, 1% from 20 to 50 million and 5% above that. Gold stays at 0.5% up to USD 30 million.

Pepperstone's own example: 100 lots of gold at $4,346 is a notional USD 43.46 million. The first 30 million is margined at 0.5% ($150,000) and the remaining 13.46 million at 3% ($403,800), so the total is $553,800. Small traders never reach these tiers, but they explain why margin jumps on very large orders.

Margin in practice

Margin in practice. 0.01 lot EUR/USD at 1.08: $1,080: $5.40: $1.08; 0.1 lot EUR/USD at 1.08: $10,800: $54: $10.80; 1 lot EUR/USD at 1.08: $108,000: $540: $108
Margin in practice: the figures from this section at a glance.
TradeNotionalMargin at 1:200Margin at 1:1000
0.01 lot EUR/USD at 1.08$1,080$5.40$1.08
0.1 lot EUR/USD at 1.08$10,800$54$10.80
1 lot EUR/USD at 1.08$108,000$540$108

Lower margin doesn't make a trade cheaper or safer. A 1-lot EUR/USD position moves about $10 per pip whatever leverage you use; leverage only decides how little of your balance is locked up, and so how far price can move before a stop-out.

Margin call and stop-out

Pepperstone says its MT4 and MT5 accounts close positions automatically when equity falls to 50% or lower of the required margin. Its Bahamas terms add that each platform has its own margin call and stop-out system, that Pepperstone may change the trigger, and that it isn't obliged to warn you before your margin runs short.

Fast markets can jump past a stop-out. Retail clients have negative balance protection, so a gap cannot leave you owing money, but your account can still be emptied in seconds. Pro clients get only discretionary protection up to USD 100,000, once.

Becoming a Pepperstone Pro

To reach 1:1000 you must be classed as a Pepperstone Pro. You self-certify in the client area and must meet two of three tests: real experience trading leveraged products, cash and investments above USD 500,000, or work in the financial sector. Being Pro also opens the active trader rebates, but it removes some retail protections.

How to choose your leverage

  • Size trades by the money you risk, not by the leverage available.
  • Keep a stop loss on every position.
  • Leave enough free margin that a normal day's move can't trigger a stop-out.
  • Use lower leverage on crypto, oil and other volatile markets.

Run your numbers through our forex margin calculator before you trade. A 1% risk per trade keeps you in the game far longer than any leverage setting.

1:200 is already more than most traders can use well. I would not apply for Pro just to get 1:1000; the extra leverage costs you protections that matter more.
FX Recap viewEditorial team
Illustrative case: Bilal, 27, Karachi

Bilal had $500 and was tempted by Pro leverage. He stayed retail at 1:200, traded 0.05 lots of EUR/USD with a 25-pip stop and risked about $12.50 per trade, far below the margin that would trigger a stop-out.

Frequently asked

What is Pepperstone's maximum leverage?

For retail clients of the Bahamas company, 1:200 on forex, gold and major indices. Pepperstone Pro clients can get up to 1:1000 on forex and gold.

What is Pepperstone's stop-out level?

On MT4 and MT5, positions close automatically when equity falls to 50% or lower of the required margin.

Why is my UK or EU Pepperstone leverage lower?

UK and EU retail clients join Pepperstone's FCA- or CySEC-regulated companies, which follow 1:30 retail caps on major forex.

What leverage does Pepperstone give on crypto?

1:20 for retail clients on Bitcoin and Ether; up to 1:500 for Pro clients.

How do I get 1:1000 leverage at Pepperstone?

Apply for Pepperstone Pro in the client area and meet two of the three eligibility tests.