Pepperstone Forex Broker Broker Review

Justin Freeman

Broker Information

  • Company Name: Pepperstone
  • Founded: 2010
  • Country: Australia

Platform Info

  • Platform: MetaTrader 4, MetaTrader 5, cTrader
  • Web Based: Yes
  • Mobile Trading: Yes

Broker Services

  • Regulators: ASIC, FCA
  • Minimum Deposit: $100
  • Leverage: 1:500
  • US Clients: No
  • Funding Methods: Credit & Debit Card
  • Pairs Offered: 84+

Expert Summary

Pepperstone was founded in 2010 and has built a strong market reputation. The platform supports institutional grade traders as well as beginners. That means there is plenty of scope for those new to trading to benefit from the same high-quality infrastructure that the pro’s use.

What sets Pepperstone apart from the competition is the range of high-end trading platforms it offers. It’s actually quite difficult to choose between the cTrader and MetaTrader MT4 and MT5 trading dashboards. All are best-in-class quality and selection will likely come down to personal preference on aesthetics or functionality.

It’s not just the client-facing areas of the site which are first class. The background systems and trading infrastructure use STP/ECN technology to ensure optimal trade execution. Clients can access liquidity pools in a network of 22 banks and the average order execution speed is 30ms. This all helps the bottom line as reliable and fast execution can be the difference between a trade posting a profit or a loss.

There is some reassurance to be gained from the fact that Pepperstone offers 24/5 support. In terms of educational resources, you can find plenty of information on the website, sign-up for webinars or access the live economic calendar.

Pepperstone is also right at the top of the charts regarding the safety of client deposits and maintaining client privacy. You also feel that the firm is on your side because it resists the temptation to charge for cash deposits and withdrawals and there are no trade inactivity fees.

So, it doesn’t matter if you are a beginner or an expert, Pepperstone has something for everyone. First and foremost, it is rated by Forex Fraud as a Trusted Broker. Add to that the cutting-edge trading platforms, high-speed order execution, analytical tools, automated trading, and VPS hosting, and it’s clear to see Pepperstone has it all.

The Demo account available at Pepperstone is a free, no strings opportunity to try out the platform. It’s worth trying it out just to see quite how good it is.

If you decide to go live and trade real funds, it’s worth noting that Pepperstone doesn’t have hidden charges relating to account administration. What you see is what you get.

Forex Broker Pepperstone Website Home Page

Broker Introduction

Pepperstone Group Limited is the holding company of Pepperstone, a multi-asset, multi-regulated CFD broker which operates globally and is headquartered in Melbourne.

The broker also operates out of the United Kingdom under the brand name Pepperstone Limited and in the Middle East as Pepperstone Financial Services (DIFC) Limited. The regulators include the Australian Securities and Investment Commission (ASIC), the Financial Conduct Authority (FCA), and the Dubai Financial Services Authority (DFSA).

Clients can access the 150+ CFD instruments. There are more than 70 currency markets to trade. The firm’s reputation as a forex specialist has been built on, and it now offers markets in commodities, cryptocurrencies, indices and shares from three platforms – MT4, MT5 and cTrader.

Clients can choose to open an Edge Standard or Edge Razor account. There is also an Islamic account which is swap-free and Shariah-compliant.

The minimum required deposit for these accounts is USD 200 or the equivalent. They all permit trading strategies such as scalping, hedging and systematic trading.

The Active Traders account is aimed at institutional investors and big-ticket retail traders. This account also features custom account managers, VPS hosting, advanced reporting and custom trading solutions. The users of such accounts can trade through APIs and third-party trading platforms.

There are 13 equity Index CFD markets; also available are the Precious Metals and Energy sectors. The metals include gold, platinum, palladium and silver with the minimum trade size set to $0.10 per pip. Oil and gas have spreads starting from 0.04, and margin requirements of AUD 0.81-AUD 1 per minimum trade size. No commissions are charged on commodities and leverage on these products can again extend to 1:500

Spreads & Leverage

Pepperstone is a global broker and the T&Cs associated with the different accounts depend on your country of residence. The good news is that Pepperstone’s aims to be one of the lowest-costs brokers in the market.

The minimum spread on the Standard Account starts at 1 pip while the Razor Account spread starts from an impossible to beat 0.0 pips. The average spread doesn’t move far from 1.0 (1.0 – 1.2 average), which shows tight spreads are consistently offered.

According to the site, the attractive spreads are made possible by the Edge technology and accessing deep liquidity pools (as is claimed) does convert to lower-cost trading.

Retail clients residing in the UK and Europe receive max leverage of 1:30, while professional clients and those coming under the other two regulators can trade using lower margins.

You can register with Pepperstone for either of the two account types – Standard or Razor. The former is a low spread account with zero commissions, and the latter comes with a transaction charge of AUD$7 per lot. The minimum deposit for both of the account types is set at AUD$200.

The Crypto markets covered include Bitcoin, Ethereum, Dash and Litecoin. All are traded as CFDs and the maximum available leverage is 1:5. The volatility and quirks of the crypto markets mean spreads tend to be wider than for other asset groups. The Pepperstone pricing follows the broad trend but is in line with the peer group.

Platform & Tools

Pepperstone is currently a participant in the Equinix Financial exchange, a state-of-the-art network of execution venues and trading servers. It allows the brokerage unfettered access to a wide range of low-latency networks, as well as to some impressive VPS hosting options, that complement MT4s EAs wonderfully.

Pepperstone offers no fewer than 11 trading platforms. Some of them are industry staples, such as desktop MT4, MT5 and cTrader while several others are in mobile App and web trader format.

Pepperstone Trading Platform Graphs

The ever-popular MT4 platform comes packed full of charting and analysis tools. MT5 is a second-generation format of MT4, so while being a bit same but different, it does offer clients some extra features.

The cTrader platform offers the same degree of charting tools and optionality to trade algorithmic models. It just has a distinctly different aesthetic.

Commissions & Fees

Pepperstone takes a refreshing approach to fees. Not only are the trading spreads tight, but the firm is also the trader’s friend by not charging any of the following:

  • No fees on cash deposits
  • No fees on cash withdrawals
  • No account administration fees
  • No trading inactivity fees
  • Free Demo account with no set expiry date

Also on offer are MAM/PAMM accounts. They are designed specifically for money managers, who handle multiple trading accounts and trade block orders through a single, master account. Such accounts support all order types and periodic client report management. EAs are supported by the MAM/PAMM suite as well.

Education

The whole ethos of Pepperstone is based around supporting traders to develop the skills required to be successful. The educational materials on offer cater to entry-level traders and the more experienced.

Their offering ranges from ‘how to trade’ style videos to research notes on different trading strategies. A beneficial resource is the hour-long webinars run by the Pepperstone analysts, where they discuss current market conditions and how to trade them.

Customer Service

Pepperstone is regarded in the trading community and broking industry as being a provider of some of the market’s best customer support.

The staff are responsive, knowledgeable, professional and very client focussed.

In 2018 the broker won the Best Forex Trading Support award at the UK Forex Awards ceremony. In 2019 it won the Best Forex Trading Support – Europe award at the Global Forex Awards.

It’s reassuring that customer support is available 24/5 via phone or email. If you’ve got a trading position in the market, then being able to speak to someone at the broker can be the difference between making a profit and a loss.

Final Thoughts

The Pepperstone platform is in places institutional-grade, but this impressive service isn’t just for the professionals. From a beginner’s point of view, the decision to offer a range of high-quality trading platforms means it’s possible to try out different systems to find the best fit. The news and research are also very trade orientated – the ideas shared by the Pepperstone analysts are thought-provoking, plus they outline possible trade entry points.

Client safety is a priority and the decision to gain regulatory licenses from both the FCA, ASIC, CySEC and DFSA marks Pepperstone out as safe to use.

Broker Details

  • Pepperstone Australia is licensed by the Australian Securities and Investments Commission (ASIC)
  • Pepperstone UK is authorised and regulated by the UK Financial Conduct Authority (FCA)
  • Pepperstone EU is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC)
  • Pepperstone AE is authorised and regulated by the Dubai Financial Services (DFSA) Authority
  • Pepperstone Markets is authorised and regulated by the Securities Commission of the Bahamas (SCB)
  • Pepperstone GmbH is authorised and regulated by the Federal Financial Supervisory Authority of Germany (BaFin)
  • Pepperstone Markets Kenya Limited is authorised and licensed by the Capital Markets Authority (CMA)

Not many brokers go to the trouble of obtaining so many licenses; however, by doing so, Pepperstone demonstrates a determination to provide safe trading. The licences require the meeting of strict capital requirements and implementing and complying with stringent internal procedures relating to client money protection, risk management, anti-money laundering, conduct, training, accounting and audits.

Contacts

Melbourne

Level 16, Tower One
727 Collins Street
Melbourne VIC 3008 AUSTRALIA

T: 1300 033 375

[email protected]

 

London

70 Gracechurch St
London EC3V 0XL
UNITED KINGDOM

Toll Free Number: +44 (800) 0465473

[email protected]

 

Dubai

Al Fattan Currency House
Tower 2, Level 15 – Office 1502A
DIFC Dubai, United Arab Emirates

T +971 (0) 4 573 4100

[email protected]

 

Cyprus

363, 28th October Avenue 3107 Limassol CYPRUS

T +35725030573

[email protected]

 

Germany

Neubrückstrasse 1
40213 Düsseldorf

T +49 (0)211 81999940

[email protected]

 

Nairobi

The Oval Ring Road Westlands PO Box 2905-00606 Nairobi Kenya

+254 2038 93547

[email protected]

 

Read all forex broker reviews.

Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.

Justin Freeman

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