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Pepperstone Broker Review

Topnotch Proprietary Trading Platform

This Pepperstone forex review aims to introduce this broker and show what the traders can expect from it. Pepperstone is one of the most credible Forex and CDF brokers in the market. This Australian-based broker started its operations in 2010 and is headquartered in Melbourne. A relatively new broker compared to other major players in the market, with a rich history. That said, Pepperstone is no less capable than any of those experienced forex brokers in providing world-class service to their customers.

In 2015, Pepperstone’s London office was set up to serve its growing European customer base. As of today, Pepperstone Forex has more than 73,000 satisfied customers who actively use this trading platform. This broker’s cutting-edge Fintech is the reason for its rapid growth. Faster execution speeds, a top-notch proprietary trading platform, and amazing customer service, are also some of the reasons for its strong customer base.

Pepperstone is regulated by 2 of the most credible firms in the world: ASIC and FCA. Currently, Pepperstone offers 150+ asset classes, including 60+ forex currency pairs, 70+ CDFs on Shares, and indices, along with some commodity features. Traders can also trade a limited range of cryptocurrencies in derivative forms with this broker.

  • ASIC and FCA regulated
  • 150+ asset classes
  • 4 trading platforms
  • Local language support
  • Wide range of deposit options
  • Native mobile app

Methodology & Contents - Forex Pepperstone Broker Review

Below is a list of content we will be covering to make this broker review a comprehensive one. We have actively traded with this broker and covered using their different account types to make this Pepperstone review holistic. We made sure that the information that is presented below is factual and not biased in any way.

By the end of this Pepperstone FX review, you will know whether this broker serves your trading needs, hence helping you make your decisions. Pros and cons for each of the sections have been uncovered in the interest of our readers who prefer to have a quick overall look.

Pepperstone Forex Review Summary

Pepperstone is an Australia-based forex and CFD broker. It offers a wider range of asset classes, including forex currency pairs, stocks, indices, commodities, and even some cryptocurrencies. This regulated broker has 2 account types and provides a wide range of trading platforms.

Pepperstone Is a Fully Licensed and Regulated Broker

Despite being a newbie compared to the other pioneer brokers in the market, Forex Pepperstone has licenses from strong regulatory bodies and financial firms. Two of the most credible top-tier financial authorities have authorized trading with this broker. They are the Australian Securities and Investments Commission (ASIC) in Australia and the Financial Conduct Authority (FCA) in the United Kingdom. It is difficult to attain these licenses from these regulators, and it is commendable that Pepperstone has attained them in such a short time.

According to FCA, Pepperstone is also allowed to provide its trading services to many of the major European countries, as it has EU Financial Passporting Rights. Some of the notable geographies include Austria, Bulgaria, Croatia, Denmark, France, Germany, Italy, Malta, Norway, Spain, and Sweden.

Hence, this Pepperstone forex broker review can confirm that it is a credible and reliable broker, with all the required regulations in place.

What Are the Available Asset Classes with Pepperstone?

As of today, Pepperstone offers a wide range of financial instruments (~160 asset classes). These asset classes include instruments from spot forex currency pairs, CDFs on indices and shares, commodity features, spot cryptocurrencies, and some cash contracts as well.

Concerning spot forex currency pairs, Pepperstone offers more than 65 currency pairs. These currency pairs include Majors, Minors, Crosses, and Exotics. AUDUSD, EURGBP, GBPAUD, AUDNZD, CADJPY, NZDUSD, EURUSD, and GBPCHF are some notable examples.

It is important to note that Pepperstone’s spreads starts right at 0 pips. The system works with close to zero latency and excellent execution. Users get to trade on flexible leverages up to 500:1 while trading forex pairs with this broker.

With Pepperstone, you also get to trade 14 major global stock index CDFs. AUS200, EUSTX50, Germany 30, and Japan 225 are some of the notable ones. Trading these CDFs comes without any hidden markups or requotes, as the system works with close to zero latency. There is also zero commission on trading these stock indices with Pepperstone.

Some of the major spot commodity futures can be traded with Pepperstone, including Metals, Crude Oil, and instruments from the agricultural sector like Sugar, Coffee, and Cotton. Even these instruments can be traded with great execution speeds and zero commission at low prices. Flexible leverage options are also available for aggressive traders.

Along with this, 60+ CDFs on global shares can be traded with Pepperstone. Some of the prominent ones include Amazon, BOA, IBM, and Tesla.

Users can also trade limited cryptocurrencies (Bitcoin, Ethereum, Litecoin, and Dash) against USD with this broker, but there is relatively less leverage (5X) compared to the currency pairs because of the regulations in place.

Note: Cryptocurrencies can be traded with this broker in derivate forms. That means that investments on cryptos can be made without actually having to hold them in your wallets.

Pros :

  • Availability of a wide range of financial instruments
  • Great leverage (Up to 500X) on Forex pairs 

Cons:

  • Only 4 cryptos available

Pepperstone’s Commissions and Fees

The spreads and commissions change from platform to platform while trading with broker Pepperstone. Our observation is that this broker charges relatively smaller fees for their services. The best part is that they don’t charge for being inactive. The pricing differs from Standard to Razor accounts. Below, we have only mentioned the spreads of some major asset classes.

Slippage/hedging/scalping

Users of Pepperstone broker can scalp and hedge their funds. These services are provided for all the users irrespective of which account type they use. Also, while trading cryptos, users can hedge their funds in a single account.

Pros :

  • Very low spreads and commissions charged
  • Scalping and Hedging options for Cryptos
  • No fee charged for inactivity

Cons:

  • Slippage can also work against you, giving you a worse price
  • Hedging can also increase your trading costs and complexity
  • Scalping can also expose you to high risk and stress and react quickly

Account Opening Procedure with Pepperstone Broker

The account-opening procedure with Pepperstone broker is rather simple. It takes less than 10 minutes to complete the entire procedure. Below, explain the detailed step-by-step procedure of the entire account-opening process. This will help if you are a novice trader trying to open an account with any of the brokers for the first time.

Types of Accounts Offered by Pepperstone FX

Pepperstone offers 2 major account types for its users: the Standard account for novice traders and the Razor account for experienced traders. There is also a Swap-Free account, which charges no interest at all. Each of these accounts charges different fees, and the minimum deposit varies by account (more about this in later sections). One standout feature in Pepperstone is that it has an Active Trader Program for high-volume traders. Users who sign up for this program are eligible for cash rebates for the trades they place. They also get to save up to 43% on commissions charged by this broker. A Pepperstone demo account is available for those traders who want to explore the features of this broker and its trading platforms before opening a live account.

Pepperstone Account Types

  • The Standard account has institutional-grade spreads with no commissions charged. This account is designed essentially for novice traders with limited to moderate experience in trading. With this account, traders get the liquidity privilege from 20 odd banks and MetaTrader 4 support. Also, since Pepperstone is backed by top-tier regulators in Australia, negative-balance protection is available. Average spreads in this account start from 1 pip.
  • The Razor account is designed for experienced traders. The average spread in this account starts from 0 pips and depends on the trading platform you are using. A $7 commission is charged for every 100k traded in this account. The minimum and maximum trade sizes in the Razor account are 0.01 lots and 100 lots, respectively. For forex asset classes, the leverage goes up to 500X, and for cryptos, it is significantly less. The minimum balance required to open a Razor account is $200, far less than its competitors.
  • The Swap-Free account has all the features of the Razor account and is for traders who can’t pay or receive swaps. For all 3 account types, some features are common. Advanced trading functions like scalping, hedging, and algorithmic trading are allowed. Base currencies available with Pepperstone broker are AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, and HKD. The detailed fee structure for each of the account types is described in the next section.

Pros :

  • Account opening is a simple and seamless process
  • Less documentation (Only 2 IDs required)

Cons:

  • The verification process could be faster

How to Deposit and Withdrawal Your Funds with Pepperstone

Pepperstone offers a range of convenient deposit and withdrawal methods for its clients. Traders can fund their accounts using popular options such as bank wire transfers, credit/debit cards, and electronic payment systems like NETELLER and Skrill. The broker ensures fast and secure transactions, allowing clients to easily deposit funds into their trading accounts and withdraw their profits efficiently.

Pepperstone Deposit Methods

You can fund your Pepperstone accounts with a wide range of Pepperstone deposit options. There is no money charged by Pepperstone for depositing money to your account.

Pepperstone deposit methods are the following:

  • Bank transfer: The traditional wire transfer can be used to deposit the funds in your Pepperstone live trading account. All the local bank transfers to the respective geography are allowed. It might take 2–3 days for your deposits to be reflected in your account.
  • Card transfer: Both Visa and Mastercard credit cards can be used to deposit the funds. Users won’t be charged any deposit fee by this broker.
  • Electronic wallets: With technology and innovation at its core, Pepperstone accepts a wide range of e-wallet payments. Some of the major e-wallets include PayPal, Skrill, BPay, and Union Pay.

It is important to remember that you can deposit money into your Pepperstone account only from sources that are in your own name.

Pepperstone Withdrawal Review

Users can withdraw funds from their Pepperstone sign in trading account. Relatively high withdrawal fees are charged by this broker ($20 for a bank transfer). Users can withdraw their funds from all deposit-allowed payment formats, but withdrawals made from the bank account will take 3–5 days to reach your account. This broker offers 9 base currencies which is impressive because many of its competitors offer no more than 5 or 6 base currencies. This matters because if you are withdrawing your currencies in the same ones as at your bank, conversion rates won’t be charged.

Pros :

  • Wide range of deposit options

Cons:

  • High withdrawal costs. $20 for a bank withdrawal is too expensive.

Security and Client Fund Protection

As discussed, Pepperstone is one of the most credible brokers in the market. It is backed by the Australian Securities and Investment Commission and the Financial Conduct Authority of UK. It is not easy to get licenses from these financial organizations. A broker must adhere to many laws in order to get approved by these regulators. All client funds and deposits are stored securely with some of the most secure tier-1 banks (National Australia Bank). To maintain transparency and avoid misuse, they are not mixed up with Pepperstone company’s funds.

Pepperstone users are eligible to claim up to £50,000 in case of the company filing for bankruptcy. This broker offers this service through a scheme known as the Financial Service Compensation Scheme. Some of the most credible auditing firms, like EY, audit Pepperstone’s accounts. This broker provides negative-balance protection through auto stop-out systems in the terminal. Their official website, however, mentions that “losses may exceed your deposit amount in highly volatile conditions.”

Pros :

  • Regulated by tier-1 forex brokers like ASIC & FCA
  • Users can claim up to 50k in case of bankruptcy

Cons:

  • Would have been great if listed on any stock exchanges
  • Pepperstone does not offer any investor protection to its clients outside the UK and the EU

Available Trading Platforms with Pepperstone Broker

Pepperstone forex broker provides 3 different platforms for its users, including MetaTrader Suite, which includes MT4 and MT5. Users can also access this broker from a third-party tool known as cTrade. Let’s discuss each of these platforms in detail.

MT4

MT4, as we all know, is a world-class trading platform. Pepperstone’s MT4 is an amazing tool for novice as well as experienced traders. This platform has almost all trading tools by default. These tools include more than 80 indicators and oscillators. In addition, 20+ charting tools and types are available. Many features, like auto-trading, 1-click trading, market news, and trade alerts, can be accessed right from the trading terminal. Users can also download custom indicators, then load them onto the MT4 platform, which is a great feature to have.

Versions available: MT4 WebTrader, MT4 for Mac & Windows, MT4 Multiterminal, & MT4 mobile application (for Android & iOS).

MT5

MT5 is an advanced and updated version of MT4. This trading software comes with more than 30 advanced indicators and 21 timeframes. It is available in multiple languages and has more premium features, like auto-chartist, smart tools package, and a built-in economic calendar.

Versions available: MT5 WebTrader, MT5 for Mac & Windows, and MT5 Mobile app (for Android & iOS)

cTrader

The cTrader platform is Pepperstone’s third-party trading platform with advanced trading features. Its UI is fairly simple, straightforward, and easy to navigate. It supports more than 23 languages and has enhanced charting abilities. Some additional features of the cTrade platform include faster executions, level II pricing, backtesting facilities, detachable charts, and various advanced charting tools. The next section includes more about the features of cTrade.

Versions available: cTrader Web, cTrader for desktop, cTrader Mobile app (for Android & IOS), and cTrader Automate.

Download links for each of the platforms are available on the “secure client area” page. As soon as you log in, click on “downloads” on the left side of the page.

High-Quality Mobile Trading App

We already know about the MT4 and MT5 mobile trading apps. They are as great as their desktop software, and they come with advanced trading features. Here, however, let’s discuss the cTrader mobile app and the features it comes with.

  •  Android
  •  iOS

We observed that this app has moderate to below-average user ratings in the Play

Store and App Store. Its functionality, however, was surprisingly great.

This app comes

with all of Pepperstone’s asset classes. It supports more than 20 global languages, and you can opt for email alerts. In total, there are more than 50 indicators and 4 types of charts.

Yes, they are far fewer than the cTrader desktop version, but this is expected. Users can directly buy and sell right from the app and get to see the price-action charts.

 

 

Fascinating Pepperstone Trading Features

Even though Pepperstone offers MetaTrader suite, we know all the features of this trading software. Here, let’s talk about Pepperstone’s cTrade and its commendable trading features.

Availability of all types of trading orders (Market, Limit, Stop, and Stop Limit orders).

The comprehensive trading tool has advanced charting functionalities and technical analysis tools like indicators and oscillators.

The cTrade platform provides user statistics within their terminal most simply and effectively. This will help both novice traders and experienced ones analyze their trading performance.

Automate is an advanced trading feature provided by the cTrade platform. Here, users can automate their trades and order execution.

Along with this, Pepperstone offers more powerful tools for MT4 users. One notable tool is AutoChartist.

How Good Is Pepperstone FX’s Customer Support?

Pepperstone answers most of the important and general queries in its FAQ section. This section can be accessed on its official website. In addition, users can reach Pepperstone’s customer support via phone, mail, and live chat.

The 24/5 telephone support is available in several major global languages: English, Spanish, Russian, Arabic, Vietnamese, Thai, Chinese, and Portuguese. Chat requests are also offered around the clock 5 days a week. The typical reply time is less than 2 minutes—not bad at all. Local customers can also visit the Pepperstone offices if they want some personal support. Their main offices are located in Melbourne, London, Bangkok, and Dallas.

Live Chat: Yes
E-Mail: support@pepperstone.com
Phone: 1300 033 375

Pepperstone is available in the following languages

English

French

Italian

Spainish

Additional Features Offered by This Broker

Pepperstone offers many additional trading features for its users. Some include the latest industry news, potential trading opportunities, and an economic calendar. Everyone can access these features from Pepperstone’s official website.

Education

Much valuable educational content is available for Pepperstone users. This content covers all the concepts of trading from beginner to advanced level. Users can access this content from the cTrader terminal, as well as from Pepperstone’s official website.

Research Tools

Pepperstone provides the latest market news and updates on financial events, as well as a good deal of analysis is offered in the form of live webinars and through videos in the educational section.

Overall Trading Experience

With all the major asset classes and a wider range of trading platforms, the overall trading experience with Pepperstone is great. Catering to traders with all kinds of experience is the USP of this broker. This broker always strives to provide valuable trading tools like AutoChartist and enable its customers to trade better.

Awards and Competitors

Pepperstone has received many awards since its inception for all the amazing services it provides. In 2018 alone this broker was awarded thrice at the prestigious UK Forex Awards. These awards are given to those companies who provide great trading tools, technological innovation, and quality education to their users.

Pepperstone has received more than 3 awards annually for the past 5 years.

Competitors

Surprisingly, Pepperstone broker’s competitors are the ones with a long history. It has been less than 9 years since this broker began operations, and it is now competing with brokers with decades of history. Some of its major competitors are FXPrimus, International capital markets, Alpari, Fortrade, ICM Capital, and FXDD.

Conclusion

Pepperstone is a holistic brokerage firm that offers all possible trading services for its users. Right from providing access to more than 150 financial instruments to top-quality customer support, the overall opinion on the broker Pepperstone is that the company provides an amazing trading experience. It is regulated by top-tier firms, so users don’t have to worry about the security of their deposits.

The wide range of trading platforms is useful for both novice and experienced traders. This is to say nothing of the advanced trading tools (AutoChartist) this broker provides in their trading platforms.

Despite all these features, the fee charged by this broker, whether in the form of swaps or commissions, is much lower than that of its competitors. The only considerations are the high withdrawal fee and poor customer reviews in both the Android Play and iOS App stores. With the experience of a mere 9years in the market, this broker has come a long way.

We believe that it can only get better with time, and we would recommend trading with it. Hope you had a good read. Keep watching this space for more broker reviews.

  • Our Questions

We’ve Got Answers to Your Marketing Questions.

This broker offers leverage of up to 500X for most of the forex pairs. The leverage, however, is significantly less for cryptocurrencies due to regulations.
The minimum balance required to open an account with Pepperstone is $200. There is no fee charged for any form of deposits. Withdrawal fees, however, are higher with this broker.
Despite having multiple regulators, the Pepperstone sign up process is fairly simple and seamless. It takes less than 10 minutes to complete the online registration, and verification is done in less than 2 days.