Pepperstone Moves Beyond CFDs With Launch of Its Own Crypto Trading Venue
What Is Pepperstone Building and Why Now?
Pepperstone, one of Australia’s largest retail trading brokers, is preparing to launch its own crypto platform — a major shift for a company historically focused on leveraged derivatives rather than spot markets. Pepperstone CEO Tamas Szabo said the new platform will allow clients to purchase and trade real crypto assets for the first time, moving beyond Pepperstone’s long-established CFD-only approach.
Founded in Melbourne in 2010 by Owen Kerr and Joe Davenport, Pepperstone built its brand on forex and CFD trading with quick execution, tight spreads and access to multiple trading platforms. Until now, crypto at Pepperstone has been restricted to price-only exposure through CFDs. Running a spot platform changes that model completely. Instead of routing clients to external venues, the firm would operate its own orderbooks and matching engine.
The expansion places Pepperstone in direct competition with Binance, Coinbase, Kraken and a growing roster of offshore platforms that dominate global liquidity. It also positions the broker as one of the few regulated multi-asset firms attempting to build a crypto platform from the ground up.
Investor Takeaway
How Does the platform Fit Into Pepperstone’s Strategy?
Pepperstone grew through a simple formula: execution quality, transparent pricing and speed. During the 2010s, the firm gained traction with active traders, scalpers and algorithmic clients who valued performance over brand marketing. By 2025, Pepperstone reported more than 750,000 clients and above 400 billion dollars across FX, indices, commodities, shares and crypto CFDs.
To support that growth, the company secured regulatory licences from ASIC, BaFin, CySEC, Kenya, Dubai and the Bahamas, and invested in its own proprietary web and . Gradually, the broker has reduced reliance on MetaTrader systems and built more of its own infrastructure.
The platform project aligns with that direction. Instead of being a gateway to outside liquidity, Pepperstone appears focused on controlling more of the trading stack: front-end platform, product design and now the matching engine itself.
The strategy echoes the firm’s ahead years: undercut incumbents, build cleaner infrastructure and target clients who care about execution rather than hype.
Why Brokers and Crypto platforms Are Converging
Pepperstone is not alone in expanding deeper into digital assets. IG Group has secured an FCA cryptoasset licence in the UK. CMC Markets has expanded its digital-asset business from Bermuda. Meanwhile, crypto-native firms are rolling out derivatives, tokenized equities and structured products traditionally offered by brokers.
The two industries are meeting in the middle:
- Traditional brokers are adding spot crypto so clients can trade FX, indices and digital assets inside one regulated account.
- Crypto platforms are adding derivatives to capture more advanced trading flows and institutional clients.
- Traders increasingly expect multi-asset access rather than switching between separate venues.
Pepperstone entering the spot-platform business reflects the direction of travel: the divide between is narrowing as the product sets converge.
Investor Takeaway
How Does Australia’s Regulatory Landscape Shape the Opportunity?
Australia is in the middle of developing a clearer licensing regime for crypto platforms. For many firms, uncertainty in regulation would normally sluggish expansion. But for Pepperstone, already supervised by ASIC for derivatives, a more defined framework may create an advantage.
A regulated broker-run platform could position itself as the securer alternative for Australian traders who have long relied on unlicensed offshore platforms. In the post-FTX era, concerns about counterparty risk and custody failures continue to push clients toward regulated providers — especially when the offering includes both CFDs and spot crypto in one ecosystem.
If Australia finalizes licensing rules in 2025 or 2026, Pepperstone may be well-placed to diverseiate itself from offshore venues.
Leadership, Direction and What Comes Next
Pepperstone’s push into spot crypto aligns with the strategy of Group CEO Tamas Szabo, who has led the company since 2018. During his tenure, Pepperstone expanded across Europe and the Middle East, undertook major branding initiatives — including its Aston Martin — and broadened its identity into a multi-asset trading firm.
The firm’s founders, Kerr and Davenport, built the business by attacking sluggish execution and high-fee trading models in FX. Launching a spot crypto platform is a similar kind of disruption. If successful, Pepperstone would shift from being solely a broker to wearing two hats: broker and platform operator.
For now, the industry is watching closely. A broker built in the world of leveraged derivatives is attempting to challenge crypto incumbents on their own turf. Pepperstone viewms ready to test whether regulated execution can outcompete crypto-native giants — and whether the next generation of platforms may be run by brokers rather than beginups.
