- Regulated by UK’s FCA
- Low Forex spreads
- Superb trade execution
- Leverage of up to 1:30
- Social trading support through DupliTrade, MetaTrader Signals, and Myfxbook
- Wide range of trading platforms comprising cTrader, MetaTrader 4(MT4), MetaTrader (5) and TradingView.
|Minimum 1st Deposit||$200|
|Minimum Account Size||$1|
|Minimum Trade Amount||0.01|
|Free Demo Account|
|Regulation||ASIC Australia, FCA UK, CYSEC, BaFIN, SCB, DFSA, CMA|
|Fee Info||No inactivity fee|
|Commission Info||Australian Securities & Investments Commission (ASIC) and the UK’s Financial Conduct Authority (FCA)|
|Deposit Methods||Bank transfer , BPay , Union pay , POLi , Skrill , Neteller , PayPal , Debit/credit cards|
|Withdrawal Methods||Bank transfer , BPay , Union pay , POLi , Skrill , Neteller , PayPal , Debit/credit cards|
|Trading Methods||Currency index CFDs , Commodity CFDs , Share CFDs , Index CFDs , Forex|
|Trading Currency||HKD , SGD , CHF , NZD , CAD , EUR , JPY , GBP , USD , AUD|
|Account Currency||HKD , SGD , CHF , NZD , CAD , EUR , JPY , GBP , USD , AUD|
|US Traders Allowed|
- Regulated by UK’s FCA +6 other regulators
- Low Forex spreads
- Superb trade execution
- Leverage of up to 1:30
- Social trading support
- Wide range of trading platforms comprising cTrader, MetaTrader 4(MT4), and MetaTrader (5).
- Doesn’t accept US traders
- Guaranteed stop-loss missing
- What is Pepperstone?
- Pepperstone Pros and Cons
- Safe or a scam?
- Deposits and Withdrawals
- Market Instruments
- Trading Platforms
- Customer Support
- Education & Research
Today, there are multiple financial instruments being traded for huge profits. However, it’s important to note that not every trade guarantees a profitable return on investment (ROI). Millions of people around the world are now entering the financial trading landscape for worthwhile instruments such as CFDs, FX currency pairs, indices, and commodities.
Unfortunately, only a few of them are able to make profits and become successful financial traders. Partnering with a reliable financial broker is one of the ways through which you can boost your chances of becoming successful. This is where Pepperstone steps in. Pepperstone is one of the most renowned brokers for both seasoned traders and beginners.
Here in this detailed Pepperstone review, we’ve delved into what pepperstone is all about, pros and cons, available trading instruments, deposits and withdrawal methods, research and education, leverage, and more.
Let’s get started!
Founded back in 2010, in Melbourne Australia, Pepperstone is a renowned brokerage company that offers CFDs. In 2015, Pepperstone opened an office in London to ensure it delivers the best services to its European clients. Regulated in the UK, Kenya, Germany, Dubai, Cyprus, Bahamas, and Australia, Pepperstone has offices in Thailand, China, the UK as well as the United States.
As of today, Pepperstone processes an average of $13.5 billion of trades every day. The company came into the limelight in 2015 after it perfectly managed the Swiss National Bank-related FX issue. Pepperstone used high-speed technology and smart foresight to avoid huge losses.
The broker warned its clients beforehand and cautioned them against taking high leveraged positions when trading the Franc.
Pepperstone is widely known across the globe for its wide range of incredible trading platforms such as cTrader, MetaTrader 5, MetaTrader 4, and a few other copy trading platforms.
• Regulated by UK’s FCA
• Low Forex spreads
• Superb trade execution
• Leverage of up to 1:30
• Social trading support through DupliTrade, MetaTrader Signals, and Myfxbook
• Wide range of trading platforms comprising cTrader, MetaTrader 4(MT4), and MetaTrader (5).
• Doesn’t accept US traders
• Guaranteed stop-loss missing
Fully regulated by two leading regulatory bodies, the Australian Securities & Investments Commission (ASIC) and the UK’s Financial Conduct Authority (FCA), it’s an undisputed fact that Pepperstone is a safe online broker. Furthermore, Pepperstone’s European traders have a protection of up to £85k. Trader’s funds are held in a segregated account at the national Australian bank to avoid misuse.
Not to mention that Pepperstone is audited by a third-party agency by the name Ernst & Young. The company is also regulated in the UK, Kenya, Germany, Dubai, Cyprus, Bahamas, and Australia. Pepperstone uses automated stop-out systems to remove negative balances, but the broker recently admitted that when the market is very volatile the losses might surpass a trader’s deposit amount.
The broker offers its traders leverage up to 1:500 and 1:200 for elective professional traders and retail traders respectively. It’s important to make sure you choose the level of leverage that’s suitable for you depending on your experience level.
The list of leverage levels offered by Pepperstone include:
Digital assets/cryptocurrencies 1:2
Individual equities 1:5
Major currency pairs 1:30
Minor currency pairs 1:20
Other commodities besides minor indices and gold 1:10
As you can see, the leverage levels vary depending on your needs as a trader. High leverage levels allow traders to enter into large trades as their margin requirements are reduced. In case you decrease the leverage, you can decrease your chances to open the larger positions since the margin costs are slightly higher.
As a financial trader, Pepperstone has over the years earned many notable awards. Some of the most recent awards include:
• Best Client Relationship Manager Service in 2019
• Best tailored professional trading conditions in 2019
• Best Forex trading support (Europe) in 2019
• Best global Forex ECN Broker in 2019
• Best scalping broker in 2021
• Best cTrader broker in 2021
• Best broker Australia in 2021
• Best broker in the world in 2021
The process of opening an account with Pepperstone is pretty simple. All you have to do is visit their official website and sign up by entering the required information. Just enter your email address and then click on “Get Started.”
You can then proceed and choose the type of account you want to open, select the country where you live, and set a password.
The next thing you should do is enter your personal information before you can move ahead to verify your identity. You can verify your identity by submitting your driver’s license or a valid government-issued identity card.
Once the documents are reviewed and your account verified successfully, you could now deposit funds and start trading.
Pepperstone offers users two types of accounts (a standard account and a razor account). Each of these accounts serves different financial trading needs. The good news is that the accounts can be easily accessed through third-party traders such as cTrader, MT5, and MT4 that are available via the web, mobile app, and desktop app.
A demo account and Islamic Accounts are also available. Depending on the account type you choose to open, Pepperstone will offer you two pricing models. The commission fees usually vary depending on the exact platform you’ve chosen to trade in.
For instance, the Razor Account may be used with cTrader, MetaTrader 5, or MetaTrader 4 platforms. The commission-free standard account has higher spreads and is less competitive than the Razor Account.
The standard account offers traders zero commission and highly competitive spreads. It’s an ideal account type for new traders or seasoned traders who prefer long-term trades.
Trading size Minimum 0.01 lots
EUR/USD Spread 0.6 pips
Pepperstone’s Razor Account offers traders access to the institutional-grade spreads ranging from 0.0 pips at only $5 per lot. It’s ideal for algorithmic traders and scalpers.
Trading size Minimum 0.01 lots
Commission From $5 round turn 100,000 traded
EUR/USD Spread Zero to 0.3 pips
Pepperstone spreads and commissions are pretty competitive and this offers users a chance to develop their trading portfolios in a cost-effective environment. If you choose to open a Razor Account, it’s highly likely you’ll experience spreads of about 0.16 pips and a $7 commission on the EUR/USD. The commission on this trading account is 7 units of a base currency.
This standard account does not charge any commission, but the spreads are slightly higher. For the EUR/USD pair, you’ll experience a spread of 1.16 pips. Pepperstone says that spreads can go as low as zero pips of a razor account for the EUR/USD during high volatility conditions.
Normally, the spread for the USD/JPY pair is similar to the EUR/USD both standard and razor accounts, but the spread for the GBP/USD pair is slightly higher at about 1.40 and 0.40 on the standard and Razor account respectively. There are ‘swap’ overnight fees that are incurred for the positions helped overnight. These are applied on the trader’s accounts every day, even during the weekends, and they’re set at the benchmark zonal interest rates for the products in question plus or minus the fixed interest rate of 2.5%.
Pepperstone trading platforms are available through desktop, mobile, and the web. Pepperstone doesn’t have an in-house proprietary platform, but it offers all the third-party platforms any type of trader might want to use. It has a multilingual web-trading platform that’s available in over 41 languages, making sure it perfectly caters to its customer base.
These online trading platforms include the full cTrader and MetaTrader suites, including cAlgo, cTrader (Web and desktop), MT5, MT4 Multiterminal, and MT4 (Web and desktop). Traders can use any of the available types of accounts (Standard or Razor) with any trading platform. When it comes to social copy trading, this broker offers the RoboX and MirrorTrader platform from myFxbook for MT4, the ZuluTrade Platform, and Tradency, as well as native signal markets from cTrader and MT4.
One of the trading platforms offered by Pepperstone is cTrader. cTrader is a great trading platform that’s streamlined with premium trading tools required to trade on the web. Although it’s available for iOS, it’s oftentimes used as a web app.
It’s compatible with many operating systems and multiple devices. It runs easily on Explorer, Mozilla Firefox, Safari, and Google chrome. The trading platform might be utilized on web mobile apps.
This increases the trader’s ability to monitor and execute their trades remotely. cTrader features an up-to-user interface that offers features like real-time data processing, payment gateway integration, and one-click trading.
The MT4 and MT5 platforms have trading mobile apps for iOS and Android devices. Pepperstone users can also access the MT4 WebTrader. It’s an impeccable platform that’s designed to perfectly work on tablet devices and iPad devices.
The MT5 isn’t available as a web app. The mobile version of this trading platform is pretty helpful, but their technical restrictions in the usage of top-notch trading features might be disappointing for some expert investors.
Pepperstone offers several payment options for withdrawal and deposit and an extensive collection of base currencies. Available payment options include BPay, Union Pay, POLi, Skrill, Neteller, PayPal, debit/credit cards, and bank transfers. At Pepperstone, traders can choose from any of the 10 account base currencies: HKD, SGD, CHF, NZD, CAD, EUR, JPY, GBP, USD, and AUD.
The time it takes for your funds to reach your account varies with the payment method used. For instance, withdrawals to bank accounts are implemented within 5 working days. The bank fee for cashouts is about $20 for traders outside Australia and the EU.
Payment options accepted by Pepperstone include:
• Bank transfer
• Union pay
• Debit/credit cards
Although Pepperstone does not have a minimum deposit limit, you can opt to start with about 200 of the base currency.
Pepperstone traders can withdraw their earnings free of charge to debit/credit card and e-wallet except for Neteller and Skrill. Neteller and Skrill cashouts cost $1.
Available trading instruments include
• Currency index CFDs
• Commodity CFDs
• Share CFDs
• Index CFDs
Pepperstone offers its users more than 100 trading instruments. It’s one of the few Forex brokers with cryptocurrency and CFD instruments. Pepperstone has an impeccable Forex selection and an average CFD lineup.
Amongst the cryptos, you can trade include Dash, Litecoin, Ethereum, and Bitcoin against the US Dollar. The broker offers over 70 currency pairs.
Pepperstone provides a wide selection of research tools and social copy trading platforms. The third-party tools include unlimited access to the AutoChartist, a leading software provider of trading signals and automated pattern recognition; the Smart Trader Tool, a great MetaTrader 4 add-on with top-notch tools like sentiment indicators that are available to traders with account equity of at least €500. When it comes to market analysis, the broker offers exclusive content from independent analysts such as the FX Weekly analysis.
Pepperstone’s own research offers high-quality content like the “Chart of the Day” and “Daily Fix” series. Here you’ll find many trading concepts based on excellent market reports and technical tools by Pepperstone’s research experts. You can access these research tools on Pepperstone’s trading platforms and its website.
The trading concepts are available through Autochartist that can be accessed via the Secure Client Section. If you’re looking for charting tools, then you’re in luck. Pepperstone offers 31 technical indicators and other popular editing tools such as Fibonacci retracement and trend lines.
Pepperstone has superb educational services including the utilization of demo accounts, taking part in educational content, and webinars. Excellent educational texts, tutorial videos, and trading platform tutorials are available to new traders across all platforms. There is a detailed glossary that helps users understand complex trading terms, acronyms, and expressions.
Pepperstone offers its users a superb customer support service. Traders can get in touch with the support representatives via different communication channels including email, phone, and live chat. Unfortunately, the live chat and phone support services aren’t available during the weekends.
Traders can get in touch via email, phone, and live chat and the support services are available in different languages including Thai, Vietnamese or Russian. The live chat feature works just as you would expect. With live chat, you don’t have to wait for an operator and you’ll get prompt answers. After every conversion, you can comment and rate on the chat, whether it was helpful or not.
Telephone support is also impressive because a representative is quickly connected and able to answer all questions in a friendly, but professional manner. Customer support also responds to queries sent via email within 24 hours.
Pepperstone is a reputed financial trading platform and one of the best brokers. Overall, it’s a trustworthy and credible online broker that’s considered safe. With spreads that are pretty low and high competitive trading fees, Pepperstone is an award-winning platform.
Pepperstone is a reliable and renowned Forex broker, regulated by the reputable ASIC and FCA, and is authorized in the UK, Kenya, Germany, Dubai, Cyprus, Bahamas, and Australia. The equity and Forex fees are pretty low, superb customer support service, providing answers within reasonable timeframes.
Withdrawals and deposits are easy, with no extra fees charged. Pepperstone only provides cryptos, CFDs, and Forex to trade with. They don’t also have any fundamental research tools and the news feeds aren’t up to standards. As a new trader, you don’t have to hesitate to sign up with Pepperstone because they don’t have any minimum deposit and don’t charge any inactivity fee.
While Pepperstone only provides a small set of tradable assets, the company provides CFD and Forex traders with excellent customer support service, competitive pricing, and a wide selection of third-party trading platforms including a wide range of social copy trading options.
Yes, Pepperstone isn’t a scam. Read our review to find out all the regulatory authorities and licenses that Pepperstone holds.
Is Pepperstone regulated?
Yes, Pepperstone is regulated by the ASIC of Australia and FCA in the UK.
Does Pepperstone allow scalping?
Yes, Pepperstone allows traders to enter and leave trades with ease thanks to its superb platform that allows fast trade executions.
How long do Pepperstone withdrawals take?
All cashouts are processed within 24 hours on working days. However, the time it takes for the funds to reach your account varies with the payment method. Bank transfers take between 1 and 5 working days, while Skrill, Neteller, and PayPal take 2 working days.