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Pepperstone Razor Account: Raw Spreads, $3.50 Commission and Who It Suits
The Razor account shows raw forex and gold spreads from 0.0 pips and charges $3.50 per lot per side on the Pepperstone platform. Commission differs on cTrader, TradingView and MetaTrader. Here is the full cost picture and who should use it.
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Razor is Pepperstone's raw-pricing account. Forex spreads start at 0.0 pips and spot gold at 0.08, and you pay a fixed commission on forex and gold trades instead of a mark-up. Every other market, including indices, commodities, crypto and shares, is priced exactly as on the Standard account.
Pepperstone pitches Razor at scalpers, high-frequency traders and anyone who wants direct control over costs. It is also the only Pepperstone account that connects to TradingView.
| Forex spreads | From 0.0 pips |
|---|---|
| Gold spread | From 0.08 |
| Commission, Pepperstone platform | $3.50 per lot per side |
| Commission, cTrader | $6 per lot round turn |
| Commission, TradingView | $7 per lot round turn |
| Smallest trade | 0.01 lot ($0.03 commission) |
Commission by platform
| Platform | Forex and gold commission | Notes |
|---|---|---|
| Pepperstone platform | USD 3.50 per lot per side | Converted at spot for non-USD accounts |
| cTrader | USD 6 per lot round turn | Pro-rated below 1 lot |
| TradingView | USD 7 per lot round turn | Pro-rated below 1 lot |
| MT4 / MT5 | Depends on account currency and lot size | MT4 charges both sides when you open |
The cTrader rate works out a little cheaper than the others at $3 a side. MetaTrader traders should check the rate in their own account currency, because Pepperstone sets it per currency. On MT4 you see both sides of the commission taken when the trade opens; it is not an extra charge.
What a trade really costs
Take one standard lot of EUR/USD. If the raw spread is 0.1 pips, the spread costs $1. Add $7 round-turn commission on the Pepperstone platform and the trade costs $8 to open and close. The same trade on Standard, with the 1-pip mark-up, would cost about $11. On cTrader the Razor trade would cost $7.
| Raw EUR/USD spread | Razor on Pepperstone platform | Razor on cTrader | Standard |
|---|---|---|---|
| 0.0 pips | $7 | $6 | $10 |
| 0.1 pips | $8 | $7 | $11 |
| 0.3 pips | $10 | $9 | $13 |
Per standard lot, round turn, with $10 per pip. Swaps and any currency conversion are extra.
Who Razor suits
- Scalpers and day traders taking many small moves.
- Expert-advisor users whose systems are sensitive to spread.
- TradingView users, since TradingView needs Razor.
- Gold traders, because the commission model also covers spot gold.
Razor is less useful if you mainly trade indices, oil or share CFDs, because those are priced the same on both accounts. It can also feel harder for a beginner to read, as the cost sits in two places: the spread and the commission line.
Rebates for heavy traders
Pro clients who trade 200 or more forex lots a month can join the active trader program, which refunds $1 to $3 per forex lot. At Tier 2, a rebate of $2 on a $7 commission cuts the round-turn cost to $5. Retail clients are not eligible for these rebates.
Spreads still move
A 0.0 minimum spread doesn't mean every trade opens at 0.0. Raw spreads widen when liquidity is thin, at the daily rollover, around central-bank decisions and at the weekly open. Commission, by contrast, stays fixed per lot. On a quiet day the Razor account's advantage over Standard is close to its 1-pip mark-up; on a volatile day both accounts get more expensive by the same amount, since the mark-up on Standard is fixed.
Opening a Razor account
- Log in to the secure client area.
- Add a trading account and choose Razor.
- Pick the platform: Pepperstone, MT4, MT5, cTrader or TradingView.
- Choose a base currency and fund from $10.
Try a Razor demo first and compare a week of trades with a Standard demo. Our Pepperstone fees guide lists the other costs, including swaps.
On cTrader, Razor's $6 round turn is among the lower commissions from a broker with this level of regulation. Scalpers should use it; swing traders will notice swaps far more than the commission.
Dewi ran a scalping EA on MT5 Standard and saw most of its edge eaten by the spread. On a Razor demo the same EA showed lower costs per trade, so she moved to a live Razor account and kept position sizes at 0.05 lots.
Frequently asked
What is the Pepperstone Razor commission?
$3.50 per lot per side on forex and gold on the Pepperstone platform, $6 round turn on cTrader and $7 on TradingView. MetaTrader rates depend on account currency.
What spreads does the Razor account have?
Forex from 0.0 pips and spot gold from 0.08. Other markets are priced as on Standard.
Is the Razor account good for scalping?
Pepperstone describes it as popular with scalpers, and its raw spreads keep per-trade costs low.
Does Razor have a minimum deposit?
No. Like Standard, there is no minimum to open and top-ups start at $10.
Can I use TradingView with Razor?
Yes. Razor is the only Pepperstone account that works with TradingView.
Related reading
The team behind this guide
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