Pros / Cons
- Low Spreads
- Great Execution Speed
- Excellent choice for Australia & UK Traders
- Crypto trading
- They don't provide Stocks CFDs
- Demo acc Expire after 30 days
What is Pepperstone?
About Pepperstone Australia
Founded in 2010 and based in Melbourne, Pepperstone.com is a brand of Pepperstone Group Ltd. They have been providing quality Forex brokerage services in both the Australian forex domestic market as well as catering to the needs of international retail and institutional clients.
Over the last few years, They have emerged as one of the most prominent Forex brokers in the country.
Since its inception, this Australian brokerage has strived to offer the best trading platforms to its clients and won a reputation for providing clients with access to a low-cost trading environment.
About Pepperstone UK
Pepperstone opened in 2016 a subsidiary called Pepperstone Limited to provide forex and CFD brokerage service to the clients in the United Kingdom and broader Europe with local access to superior trading conditions and award-winning support.
Over the last few years, Pepperstone has earned a stellar reputation for providing diversified trading platforms for investors in the UK that supports the most advanced features. However, at the same time, their unique value proposition is tailored to meet the beginner retail investors who don’t want to feel overwhelmed by trading in the foreign exchange markets.
Pepperstone Limited is an authorised and regulated broker by the Financial Conduct Authority (FCA) in the United Kingdom.
About Pepperstone UAE (Middle East)
In June 2020 Pepperstone has obtained a license from the Dubai Financial Services Authority (DFSA). Its Dubai subsidiary is Pepperstone Financial Services (DFSA). It brings them closer to their clients in the Middle East region and allows this award-winning broker to serve them better.
Pepperstone Cyprus (Europe)
Pepperstone EU Limited has received the license from CySEC (Cyprus Securities and Exchange Commission) on 3rd August 2020. It would be a great option for investors based in the European Economic Area.
Pepperstone Kenya (Africa)
From February 2020, they have a license from CMA(Kenya) thought their company Pepperstone Markets Kenya Limited.
How does Pepperstone work?
They offer MT4, MT5 and cTrader platforms to trade over 150 forex and CFD instruments on the desktop and mobile apps, with very competitive spreads.
Regulation & Trust
Is Pepperstone legit and a regulated broker?
Yes, Pepperstone is completely legit. Its parent company, Pepperstone Group Limited, fully comply with the Australian Securities and Investment Commission (ASIC) under AFSL No. 414530, and Pepperstone Limited is fully regulated in the UK by FCA.
In Australia, all clients funds are held in tier 1 banks, and in the UK they maintain segregated client accounts with Barclays Bank PLC.
Trading Platforms & Tools
Does Pepperstone use MetaTrader?
Like most popular brokers, Pepperstone offers MetaTrader 4 as well as version 5. However, the real charm is being able to trade Forex and other assets using the cTrader platform that offers a streamlined order processing with a full range of advanced order types and charting feature.
They have heavily invested in their trading infrastructure to offer the best in the class trading environment to clients.
During the research for this Pepperstone review, we found Pepperstone’s cTrader to be a much superior trading platform than MetaTrader. By offering this platform should be enough to differentiate this broker from a host of other contenders in the industry.
Moreover, the cTrader comes with a Web interface where traders can log in from virtually any modern web browser with HTML 5.0 support.
Although institutional clients of Pepperstone prefer desktop-based trading platforms, they offer a range of web-based and mobile trading platforms as well.
For example, Pepperstone’s cloud-based cTrader WebTrader is fully accessible from any modern web browser with an Internet connection.
Besides offline trading software and cloud-based trading platforms, Pepperstone has also developed separate mobile trading apps for both iOS and Android devices and smartphones so that customers can trade on the go.
They provide a wide range of trading tools such as cTrader Automate, Autochartist and indicators available for the Metatrader platforms.
How many assets can be Traded on Pepperstone broker?
Pepperstone.com currently offers over 150 tradable assets. Besides Forex pairs, they also offer a range of trading instruments, including Indices, commodities, share CFDs, cryptocurrencies, and US Dollar index.
They currently offer almost all the major pairs and some of the most exclusive exotic pairs, including, AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDSGD, AUDUSD, CADCHF, CADJPY, CHFJPY, CHFSGD, EURAUD, EURCAD, EURCHF, EURCZK, EURGBP, EURJPY, EURNOK, EURNZD, EURPLN, EURSEK, EURSGD, EURTRY, EURUSD, EURZAR, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNOK, GBPNZD, GBPSEK, GBPSGD, GBPTRY, GBPUSD, NOKJPY, NOKSEK, NZDCAD, NZDCHF, NZDJPY, NZDUSD, SEKJPY, SGDJPY, USDCAD, USDCHF, USDCNH, USDCZK, USDJPY, USDMXN, USDNOK, USDPLN, USDRUB, USDSEK, USDSGD, USDTHB, USDTRY, USDZAR, and ZARJPY.
Under indices, they offer a vast array of 14 major global stock indexes and CFDs.
They also offer several key precious metals for trading, including Gold, Silver, Platinum, and Palladium.
Regarding crypto, you can trade 5 cryptocurrency derivative products: Bitcoin, Bitcoin Cash, Ethereum, Dash and Litecoin.
What about Commissions and Spreads with Pepperstone?
Their spreads are very competitive, however, it depends on the type of account opened: Razor or Standard.
The STP Standard account starts from 1.13 pips (EURUSD or USDJPY pairs). If you want to trade AUDUSD the spreads would be 1.18 pips.
In the other hand, their ECN Razor account average spreads are from only 0.16 pips (EURUSD), with $7 round turn 100k traded.
What is the maximum leverage?
With ASIC regulation, they offer a leverage up to 500:1.
If you are a retail client based in the UK or Europe, the maximum leverage they can provide you is 30:1. However, Pepperstone also provides an account for Professional clients that offer up to 500:1 leverage, which is way more than the 30:1 maximum leverage offered to retail clients.
How fast is their execution speed?
Most orders are executed pretty fast because they use The EDGE environment, a forex trading technology for all those traders who search to unlock execution and reduce spreads.
Types of Accounts
Is Pepperstone an ECN Broker?
Yes, their RAZOR account is an ECN Type account with $7 commission fee per full lot. However, the Razor account provides much tighter spreads, starting from 0.0 spreads on popular Forex pairs.
On the other hand, they also provide retail clients with a Standard and Swap-Free accounts have no commission fees, and both offer Straight Through Processing (STP) spreads. The Active Traders account is designed for day traders who need high volume trading service. However, Pepperstone does not reveal any details about the account on their website and you need to give them a call for this service.
Pepperstone also provides an account for Professional clients that offer up to 500:1 leverage, which is way more than the 30:1 maximum leverage offered to retail clients.
Is Pepperstone offering a demo account?
Yes, they also provide free demo accounts ( 30 days expire period) of $50,000.
Forex Islamic Accounts: They provide Swap-Free Accounts?
Regarding Islamic Accounts, Pepperstone has also targeted niche Arabic markets around the world by offering a Sharia-compliant SWAP FREE account that does not incur any interest fees or pay any swap or interest to the trader’s brokerage account.
How to open Pepperstone Live Account?
You need to fill up an application form with 4 steps to open a Live Account with them. 1) Create your login with an email address and password 2) More details are required with a short questionnaire about your trading knowledge. 3) Confirm your ID: You should submit an identity document ( passport, national ID,..) and proof of address document, and 4 ) Fund your account.
Deposit and Withdrawal Methods
What is their minimum Deposit?
Pepperstone broker makes the onboarding process really easy as customers are required to deposit only $200 when opening a new Forex brokerage account with them.
How to fund the Pepperstone account?
Funding your Forex brokerage account with Pepperstone.com is really easy as they accept over 10 funding methods, including credit cards, direct bank transfer to their National Australia Bank (NAB), BPAY Net banking, etc. If you are situated in Australia, you can also use POLi secure online payments from domestic banks.
However, international customers of Pepperstone need to stick to either credit cards to make an instant deposit or send an international wire transfer via the SWIFT network to fund their account.
Pepperstone also supports withdrawing funds via respective deposit methods. However, if you are going to use a credit card to fund your account, it may incur a small transaction charge.
In the UK, As an FCA authorised broker, funds deposited into Pepperstone are secured under the Financial Services Compensation Scheme (FSCS), which guarantees up to £50,000 per person.
Research & Education
Does Pepperstone offer Free education?
Yes, they have an impressive section for free education including market analysis, economic calendar, trading guides, webinars, trading charts and videos.
Currently, This platform is running several promotional offers, including a referral program called “Refer A Friend.” Under this promotional offer, if you refer a client to Pepperstone and they make a minimum deposit of AUD $1000 (or equivalent), then trades at least 5 standard Forex lots, you will earn an AUD $100 (or equivalent) amount into your trading account as a thank-you bonus.
Pepperstone offers customer support via several communication channels. Customers can avail customer support by emailing at [email protected]. But, if you are facing a more urgent issue, you can call Pepperstone’s customer care number at 1300 033 375 in Australia.
International customers of them can also reach their customer support line by calling +61 3 9020 0155 during Australian office hours, throughout Monday to Friday.
Besides, email and phone support, Pepperstone.com also offers a live chat option on their website.
Their main headquarter is in Melbourne (Australia):
Tower 1, Level 16, 727 Collins Street, Melbourne 3008
In the UK, the office of Pepperstone is located at:
68 Hanbury Street
London, E1 5JL
Phone nr +44 (800) 0465473
In Dubai, their office is:
Al Fattan Currency House | Level 15, Office 1502 A, Tower 2 | P.O.Box 482087, DIFC
Dubai, United Arab Emirates
Phone nr: +971 (0) 4 573 4100
Pepperstone Review: Summary
Over the last few years, Pepperstone has emerged as a major player in the Australian brokerage industry, attracting a large number of domestic and intentional clients to their top-notch services.
Pepperstone.com has developed their four different types of trading accounts to cater to both beginner traders who make only a few trades a week as well as professional traders who make over hundreds of trades per week.
Especially, their 0.00 spreads ACTIVE TRADERS account has become very popular among institutional traders because it offers a virtual transaction fee-free way to access the market.
Being regulated by the Australian Securities and Investment Commission (ASIC), They offer one of the most secure trading environment in the industry. If you are looking for a Forex broker, Pepperstone could be a good option as they offer several different trading accounts to suit your individual needs.
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