Pepperstone Refer-a-Friend Program (20 Free Trades or up to $1,000 Cash)
by Pepperstone
Pepperstone pays both you and a referred friend up to USD 1,000 in cash (or 20 commission-free trades on the retail version) once the friend deposits and trades a set number of lots within 90 days.
Researched and rated by the BrokerBonuses editorial team · Last verified 2026-10-01 · How we rate
Risk warning: Trading carries a high risk of losing money, especially with leveraged products such as CFDs. A bonus does not reduce that risk. Only deposit what you can afford to lose.
Value rating breakdown
Availability
Checking availability…All countries except those restricted
The catch
Under the Bahamas Pro ROW terms that set these cash tiers, both the referrer and the referred friend must be approved Pepperstone Pro (Professional) clients with Pepperstone Markets Limited (Bahamas), and Retail clients cannot earn the cash reward (clause 5.3). Retail referrals fall under Pepperstone's separate Retail Refer-a-Friend terms, which give 20 commission-free trades instead of cash.
How to claim
- The referred friend opens a Standard or Razor account and enters the referrer's email in the 'How did you hear of us' / Account Preferences section.
- For the cash offer, the friend applies to become a Pepperstone Pro (Professional) client and is approved.
- The friend deposits at least USD 500 and completes the required round-trip lot volume in eligible FX, commodity, or index trades within 90 days of opening the account.
- Pepperstone credits the matching cash bonus to both accounts within 30 days of the requirements being met.
Full review
Pepperstone's Refer-a-Friend program rewards existing clients for bringing in new traders. On the Professional client version, both the referrer and the friend earn a matching cash payout on a three-tier scale: deposit USD 500 and trade 2.5 FX lots (or 5 commodity lots, or 25 index lots) for USD 50 each, deposit USD 1,000 and trade higher volume for USD 100 each, or deposit USD 5,000 and trade 50 FX lots (or 100 commodity, or 500 index lots) for USD 1,000 each.
The retail version instead gives 20 commission-free trades to each side once the friend deposits USD 1,000. The catch is the trading volume. The headline USD 1,000 payout requires the friend to be approved as a Professional client, deposit USD 5,000, and complete 50 round-trip FX lots (or the commodity/index equivalent) within 90 days of opening the account.
Trades must stay open at least 5 minutes and hedged positions do not count. The reward is paid as real cash into both Standard or Razor accounts within 30 days of the requirements being met, so it is withdrawable, but only after the lot turnover gate is cleared.
Under these Bahamas terms the referrer must be a Pepperstone Pro client (clause 3.1), and the friend opens a Standard or Razor account. Other Pepperstone entities use a generic March 2025 version that accepts Pro or Retail referrers but needs more volume (13, 26, or 216 FX lots for the three tiers).
The offer is run by Pepperstone Markets Limited (Bahamas, regulated by the Securities Commission of The Bahamas) and is not open to residents of China, Thailand, Vietnam, or Latin America. Introducing Brokers are excluded, each household can take part only once, current Pepperstone pages pay rewards for up to 5 qualified friends per referrer, and all accounts are subject to KYC checks.
Pros
- +Both the referrer and the new client get paid, not just the referrer
- +Paid as real cash credited to the trading account, not a non-withdrawable trading credit
- +Up to 5 qualified friends can each earn you a reward
- +Clear tiered structure with a published T&C PDF
Cons
- −The USD 1,000 top reward requires Professional client status, a USD 5,000 deposit, and 50 FX lots traded
- −90-day window to complete the deposit and full lot volume
- −Excludes residents of China, Thailand, Vietnam, and all of Latin America
- −Trades must stay open 5+ minutes and hedged positions are disqualified
- −Retail clients cannot earn the cash tiers under these Bahamas Pro terms (clause 5.3); retail referrals get 20 commission-free trades under separate terms instead
Up to $1,000 with Pepperstone
Now you know the terms. Claim it on the broker's own site.
Sources & verification
We research every bonus from the broker's official pages and re-check it on a 60-day schedule.
Confirmed against official sources: Bonus amount, Withdrawal terms, Turnover requirement, Minimum deposit, Time limit, Restricted countries, Eligible countries, Account type.
Broker regulation: Financial Conduct Authority (license 684312), Australian Securities and Investments Commission (license 414530), Cyprus Securities and Exchange Commission (license 388/20), Dubai Financial Services Authority (license F004356), Bundesanstalt für Finanzdienstleistungsaufsicht, Securities Commission of The Bahamas (license SIA-F217), Capital Markets Authority.
- Bonus terms and conditions: eu-assets.contentstack.com ↗
- Pepperstone official site: pepperstone.com ↗
Last verified 2026-10-01. Next review within 60 days.