Pepperstone Forex Trade Platform and Broker Review

Pepperstone Forex Trade Platform and Broker Review

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Pepperstone Broker Review

Overall Rating

4.9/5

Rated #54 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

Australia, Bahamas, Cyprus, Dubai, Germany, Kenya, UK

📱 Trading Desk

MetaTrader 4, MetaTrader 5 and cTrader

Crypto

Yes

📈 Total Pairs

60+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

Pepperstone is a globally recognized Forex broker that offers Forex and CFDs trading. The broker was established in 2010 in Melbourne and opened a London office in 2015 to better serve European clients. It also has offices in the United States, China, and Thailand.

By October 2019 the broker processed on average $12.55 billion of trades each day and according to the business size employed at least 200 to 350 people. 

Is Pepperstone Regulated?

Yes, Pepperstone is regulated by top-tier financial authorities like the UK's Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), CySEC of Cyprus, DFSA Dubai, CMA Kenya, SCB Bahamas, and BaFin Germany.

Pepperstone’s regulations guarantee a high standard of safety for clients’ trading and funds. 

Is Pepperstone Regulated in the United States?

No, Pepperstone is not regulated in the United States. CFDs are not available in the USA due to local regulation, hence regulated brokers do not accept US citizens or US residents as clients. 

Is Pepperstone Regulated in Europe?

Yes. Pepperstone is regulated in Europe. The broker opened a London office in 2015 and is regulated by the UK's Financial Conduct Authority (FCA). After Brexit, new clients from the EU registering with Pepperstone will be served by its German and Cyprus arm.

Is Pepperstone regulated in a Tier-1 Jurisdiction?

According to the Pepperstone website, Pepperstone is regulated under Tier-1 jurisdiction. 

This jurisdiction gives the broker license to operate in specific countries, which include Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Israel, Japan, Luxembourg, Netherlands, New Zealand, Norway, Puerto Rico, Singapore, Sweden, and Switzerland.

Is Pepperstone regulated in Tier-2 Jurisdiction?

According to Pepperstone sources, Pepperstone is regulated under the Tier-2 jurisdiction which gives the broker license to operate in the following countries and areas: British V.I., Cayman Islands, Cyprus, Italy, Malaysia, Mexico, Poland, Portugal, Spain, and Taiwan.

What are the Platforms and Tools for Forex Trading in Pepperstone?

Pepperstone does not offer an exclusive platform but traders have access to the full MetaTrader and cTrader suites, including MT4 (desktop and web), MT4 Multi-terminal, MT5, and cTrader (desktop and web). Traders can use both account types with any platform.

Pepperstone has also partnered with a range of social trading platforms to help traders access strategies from the world’s best traders. These include MyFXBook’s AutoTrade and MetaTrader Signals.

  1. MetaTrader 4 – A trader can customize the Pepperstone MT4 platform to the way the person wants to trade, build and run his expert advisors using MQL4 and identify high probability trades with Autochartist. A trader can access 28 indicators and EAs with the broker’s Smart Trader Tools and can choose from thousands of other online tools to plug into MT4.
  2. MetaTrader 5 – this platform has faster processing times, the ability to hedge positions, advanced pending orders, and the newest tools and indicators to take trading to the next level and stay ahead of the markets. It is easier to use, easier to code using MQL5, offers advanced platform customization, and optimized processing of expert advisors and indicators. Users can access smart trader tools and Autochartist. 
  3. cTrader – is an intuitive and easy-to-use platform with advanced order capabilities and customization, as well as an array of education and analysis for making better trading decisions. It is designed to replicate an institutional trading environment and works well for those getting into trading. It offers advanced risk management and order functionality and optimizes the processing of expert advisors and indicators.
  4. Myfxbook’s AutoTrade is an account mirroring service that allows traders to copy trades from top successful forex trading systems. A trader can create his own portfolio without paying any management or performance fees and doesn't need to run any software since AutoTrade runs on its own dedicated servers.
  5. MetaTrader Signals take the guesswork out of trading by accessing thousands of trading strategies and signals from successful traders in real-time to help diversify trading with multiple strategies and reduce a trader’s portfolio risk by using different signal providers with different approaches. A trader doesn’t need to constantly monitor charts and can save time with no paperwork required while gaining full control of his account for closing trades, changing capital allocation to a strategy, changing the stop-loss inserted, or removing a strategy at any time.

Does Pepperstone have a News Blog for Forex News?

Yes. Pepperstone publishes a free news blog on its official website. This offers regular updated global market news and fundamental analysis by a team of employed analysts, that may allow users to better analyze all important market events which may impact their trades. 

Pepperstone has a Telegram channel with their own market commentary and analysis are written by Pepperstone's research team as well as a daily newsletter by an experienced trader called the “The Daily Fix”, which includes topics like “A traders guide for navigating the week ahead” and more.

Pepperstone offers market commentary in Chinese, Spanish, Italian, and German on their respective YouTube channels.

Does Pepperstone have a Traders Dashboard?

Yes, Pepperstone has a Traders Dashboard that gives traders an overview of current market events and updates on any news from the currency markets.

Does Pepperstone Have an Educational Section?

Yes, Pepperstone has an excellent education section for Forex Traders. The broker’s educational content can be accessed directly from Pepperstone’s website by anyone, not only by traders and it is free of charge. 

What is the content of Pepperstone Forex Education?

Pepperstone’s educational content can be found in videos, articles, trading guides, and webinars.

  1. Pepperstone videos that are available to watch include topics like: 
  • “US earnings season and FX trading strategies for beginners”
  • A “Technical analysis wrap” for each day”
  1. Articles discuss topics like:
  • “Calm markets but key levels being tested”
  • “USD and gold reversals well traded”
  • “A view across markets ahead of ISM and US payrolls”
  • “Short USDRUB – an emerging technology and carry play”
  • “Trader thoughts – the set-ups, event risks and moves you need to know”
  • “The COVID-19 vaccination rollout an inspiration to markets”
  1. Training guides offered cover topics like:
  • “Learn to trade forex”
  • “Learn to trade crypto”
  • “Learn to trade shares”
  • “Learn to trade CFDs”
  1. Webinars offered in the past covered topics like:
  • “Advanced scalping techniques for share CFDs traders”
  • “3 scalping strategies for commodity traders”
  • “How to trade the top 50 Australian share CFDs on MetaTrader5”

These expert-led webinars are designed to help traders grow their Forex knowledge and become better traders, whatever level they’re at.

Through the above, the broker provides comprehensive educational content which can help both novice traders and intermediary traders to benefit from all the categories and expert traders may find even more ways to enhance their trading skills.

Is Pepperstone Legit?

Yes, Pepperstone is a legit Forex broker and trade platform and holds proof of regulation by  the UK's Financial Conduct Authority (FCA), the Federal Financial Supervisory Authority (BaFin), the Cyprus Securities and Exchange Commission (CySEC), the Dubai Financial Services Authority (DFSA), the Australian Securities and Investments Commission (ASIC), the Capital Markets Authority of Kenya (CMA) and the Securities Commission of The Bahamas (SCB).

Is Pepperstone Safe?

Yes, Pepperstone is a safe Forex Trade platform in terms of its regulation and other safety protocols. The broker is regulated in several global jurisdictions, as described below:

  • The UK's Financial Conduct Authority (FCA) for UK clients, 
  • The Federal Financial Supervisory Authority (BaFin) for German and Austrian clients, 
  • The Cyprus Securities and Exchange Commission (CySEC) for other EEA clients, 
  • The Dubai Financial Services Authority (DFSA) for Middle-Eastern clients,
  • The Australian Securities and Investments Commission (ASIC) for Australian clients, 
  • The Capital Markets Authority of Kenya (CMA) for African residents 

Other safety protocols followed by Pepperstone if something would go wrong with the broker are:

  • Clients based in the UK will be protected by the UK's investor protection fund up to £85,000
  • Clients from Germany and Austria can get back 90% of their claims on securities, but not more than €20,000 & 100% up to € 100,000 on cash claims (as per BaFin rules)
  • Clients from other European countries (EU and EEA countries) are protected by the Cyprus Investor Compensation Fund (ICF), up to €20,000
  • Unfortunately, clients outside the EU and the UK won't get any kind of protection. 
  • The Securities Commission of The Bahamas (SCB) for other clients.

Overall Rating

4.9/5

Rated #54 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

Australia, Bahamas, Cyprus, Dubai, Germany, Kenya, UK

📱 Trading Desk

MetaTrader 4, MetaTrader 5 and cTrader

Crypto

Yes

📈 Total Pairs

60+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

Is Pepperstone a Good Broker?

Yes. This Forex Suggest review suggests that Pepperstone is a good broker due to its regulation, trading speed, security, and online support. 

Traders can enjoy a fast and fully digital account opening process, the broker offers seamless and free deposits and withdrawals, as well as great customer service.

Pepperstone however provides only a one-step login, while two-step authentication would be more secure. Traders can set up a two-step login for accessing the client area on the website though.

Pepperstone is regularly audited by external parties against all the controls which it has in place. 

In terms of online support, Pepperstone offers a live chat option that provides direct access to a customer support team member for the prompt and efficient response to all client queries. 

In terms of cryptocurrencies, clients can trade cryptocurrencies as CFDs across a wide selection of currency options. These include Bitcoin, Ethereum, Litecoin, BitcoinCash & Ripple.

What is the Offering of Investment in Pepperstone?

Pepperstone is primarily a forex broker with some CFD and cryptocurrency instruments, with many popular asset classes, like real stocks and ETFs, not offered. Pepperstone offerings are as below but cryptos are not available to UK retail consumers, as per the FCA ruling.

Feature Pepperstone
Forex Trading Yes
CFDs Yes
Forex Pairs Yes
Cryptocurrency (Physical) No
Cryptocurrency (CFD) Yes
Social Trading  Yes

Does Pepperstone have Nasdaq?

Yes, Pepperstone has the option of trading CFDs on the Nasdaq 100 Stock Index. The Nasdaq exchange is the global electronic marketplace for buying and selling securities created by the National Association of Securities Dealers (NASD) and Nasdaq100 consists of the traded shares of the largest 100 companies by market capitalization on the exchange. 

What are the Awards of Pepperstone?

Forex Trading Platform Pepperstone’s awards are listed below.

  1. Global Forex Awards Best Global Forex ECN broker 2019 Winner
  2. Global Forex Awards Best Forex Trading Support Europe 2019 Winner
  3. Investment Trends Australia Number 1 for Spreads 2018 winner
  4. UK Forex Awards Best Forex ECN Broker
  5. UK Forex Awards Best Forex Trading Support 2018 Winner
  6. UK Forex Awards Trading Conditions 2018 Winner
  7. Australia FX Report Investment Trends Number 1 Customer Service 2018
  8. Australia FX Report Investment Trends Number 1 Value for Money 2017 
  9. Australia FX Report Investment Trends Number 1 for Risk Management 2017 
  10. Australia FX Report Investment Trends Number 1 for Education Materials 2017 
  11. Australia FX Report Investment Trends Number 1 for Fund Withdrawal 2017 

How to Use Pepperstone for Forex trading?

Ito uses Pepperstone you have to open an account with the broker, an easy and fully digital process. Online applications only take about 10-15 minutes and you can receive verification within a day. To open an account a person must:

  1. Be 18 years or older
  2. Have a copy of identification documents and 
  3. Have proof or residential address by means of a utility bill or similar.

A trader that can meet the conditions above, can open a forex trading account to use Pepperstone. 

How to open a Forex trader account with Pepperstone?

A trader can follow a few easy steps to open a Forex Trading Account with Pepperstone: Create a login, enter your email and choose a password to get started, complete your application, and fund and trade.

The account registration page can be found by clicking on the “Get Started” button.

  1. Register your email address and a password 
  2. Confirm your email address
  3. Proceed to the ‘Secure Client Area’
  4. Fill in your personal information 
  5. Set the base currency of your account.
  6. Complete a trading expertise survey.
  7. Upload a copy of your passport/ID and a utility bill or some other proof of address.
  8. You can get help via email or live chat if a problem arises.

What are the Forex Trader Account Types with Pepperstone?

Forex broker Pepperstone has a demo account and two different live account types, each with different features and conditions. The broker also offers a Managed Account and an Islamic option on the Standard Account.

Pepperstone live account types are listed below. 

  1. Standard Account that is oriented towards smaller accounts
  2. Razor Account with tighter spreads for more advanced and Expert Advisor (EA) algorithmic traders
  3. Managed Account aimed at fund managers, who can use it to easily manage hundreds of sub-accounts.
  4. Islamic of swap-free Account

 

  • Demo Account

With the free Demo account that the company offers new traders who want to practice trading in a simulated but risk-free environment can do so before opening a live account.

  • Standard Account 

  • This type of account is ideal for beginner traders, discretionary traders or low volume traders
  • A minimum deposit of $ 200 is needed to open the account
  • Leverage of up to 1:500 can be used
  • Variable spreads from 1.0 pips are applied, with EUR/USD average spread being 1.09 pips.
  • Commission-free trading is provided

 

  • Razor Account

  • This account is ideal for day traders, ECN style trading, and cost-saving
  • A minimum deposit of $200 is required to open the account.
  • Variable spreads from 0.0 pips apply
  • Commissions from $ 7 round turn are charged on 100 000 traded.

 

  • Managed Account

This account is designed for fund managers, who need a type of account with which to easily manage hundreds of sub-accounts.

  • Islamic Account

Pepperstone offers a swap-free option on its Standard Account type for religious purposes. However, fees may be applied once trades on certain instruments are open for a specific number of days. The Islamic Account option provided has the same pricing structure as the Standard Account with a few added conditions like no swaps being earned or paid, an administration fee for positions held for ten or more calendar days. Traders do not have access to Forex exotic pairs on this account.

How to Withdraw Money from Pepperstone?

To withdraw money from Pepperstone, a trader must:

 Log into his secure Pepperstone client area 

  • Head to the ‘Funds’ tab
  • Select the preferred withdrawal option under the Withdraw Funds tab
  • Select the account you want to withdraw from and enter the amount
  • Finish your request
  • Withdrawal forms received before 07:00 (AEST) will be processed on the same day but those received after 21:00 (GMT) will be processed the next day. 
  • Funds must be returned to a bank account in the same name as your Pepperstone trading account 
  • Any transfer fees charged by the broker’s banking institution are passed onto the client. 
  • Withdrawals made by Bank Wire transfer usually take 3-5 working days to reach the trader’s account, but it may also take longer due to unforeseen circumstances 

How many days do deposits take with Pepperstone?

Pepperstone does not charge deposit fees and provides multiple options for depositing funds, including Bank transfer, Credit/debit cards, and E-wallets – with the availability of payment options depending on the regulator under which a trader trade. A bank transfer can take several business days, while payment with a credit or debit card is processed instantly.

What are the costs and fees with Pepperstone?

According to the broker’s website, it uses multiple liquidity providers to give competitive quotes with low spreads on its range of instruments, which allows them to offer razor-sharp pricing and fast execution. Three types of costs are charged – spreads, swaps and commissions.

The broker’s minimum and average spreads are listed clearly on its website, being 1.09 pips as Standard average on EURUSD and 0.09 pip as Razor average spread, and 1.17 and 0.17 respectively for AUDUSD.  

Pepperstone swap rates are released weekly by the financial institutions they work with and are calculated based on risk-management analysis and market conditions. The latest swap rates are found on the trading platforms. 

Commissions are only charged on Razor accounts when trading CFDs on Forex and Shares, for example, for trading account currency USD, it will be USD 0.04 (USD 0.08 round turn) per 0.01 lots and USD 3.50 (USD 7 round turn) per 1 lot.

What are the Trading Fees with Pepperstone?

Pepperstone charges no inactivity or account fees. Withdrawals are free for credit or debit cards and electronic wallets, except for Skrill and Neteller. Bank transfer withdrawals are also free for EU and Australian clients, but pricey ($20 at the time of writing) for others. No inactivity or account fees are charged.

What is the minimum deposit in Pepperstone?

The recommended minimum initial amount is 200 USD and a trader can choose between 9 base currencies: AUD, USD, SGD, HKD, JPY, NZD, EUR, CHF, or GBP.

What are the contract specifications in Pepperstone?

Feature Pepperstone
Forex Trading Yes
CFDs 128
Forex Pairs 61+
Cryptocurrency (Physical) 0
Cryptocurrency (CFD) 5
Social Trading  Yes

Does Pepperstone have promotional offers?

Yes, Pepperstone does provide promotional offers and bonuses to new or existing clients. The broker offers a premium client service with additional benefits like VPS hosting, advanced trading tools, and a premium rebate program to traders. Unlike with most brokers, at Pepperstone the entry is determined by trading volume and not deposit size. 

Its Active Trader Programme is available for high-volume traders in Razor accounts. Benefits are paid directly into trading accounts daily, which reduces trading costs.

Does Pepperstone have a welcome bonus?

No, Pepperstone does not pay new traders a welcome bonus when they open an account but offers two “refer a friend” programs, depending on whether it is for a wholesale client (Pepperstone Pro) or a retail client. The “refer a friend program” rewards clients who invite their friends or family to trade with the broker. A trader can earn 20 free trades for himself when an invited friend opens and funds a trading account.

Does Pepperstone have a deposit bonus?

No, Pepperstone does not offer a deposit bonus when a new trader funds his account. He may benefit through the broker’s “refer a friend” program though if he was invited by a friend or family member to join this broker. A new trader can earn 20 free trades when he opens and funds a trading account on invitation from another trader.

Is there a commission-free trade bonus in Pepperstone?

No, Pepperstone does not offer a commission-free trade bonus. The broker does however reward traders with cash bonuses up to AUD$5,000 when an invited friend opens a trading account and meets the deposit and trade requirements.

Is there a VIP bonus in Pepperstone?

No, Pepperstone does not offer a VIP bonus as such, but VIP clients and high-volume traders with Razor accounts are rewarded with benefits that are paid directly into their trading accounts daily.

Can you start trading with no money at Pepperstone?

No, you cannot start trading without money at Pepperstone, due to the fact that the broker does not offer a any deposit bonus as such. Referred traders who met the minimum deposit requirements when opening their trader accounts, may receive cash bonuses to trade with, however.

How does leverage work with Pepperstone?

Leverage can be seen as funds borrowed from the broker that allows a trader to surge their trading positions by opening larger positions than would have been possible with the funds in their accounts. While leverage is a good way to amplify potential profits, it can also increase losses. 

With the different Pepperstone account types requiring the same minimum deposits, and other features are similar, the maximum leverage that may be used, differs according to the jurisdiction of a trader’s residence. Leverage up to 30:1 is possible in Australia, Europe, and the UK while leverage up to 500:1 is available for offshore (SCB) traders.

 

Overall Rating

4.9/5

Rated #54 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

Australia, Bahamas, Cyprus, Dubai, Germany, Kenya, UK

📱 Trading Desk

MetaTrader 4, MetaTrader 5 and cTrader

Crypto

Yes

📈 Total Pairs

60+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Where are the headquarters of Pepperstone?

Pepperstone Group Limited is located at Level 16, Tower One, 727 Collins Street, Melbourne, VIC 3008, Australia. 

Who is Pepperstone’s CEO?

Tamas Szabo is the Group CEO of Pepperstone.

According to LinkedIn, he holds an MBA (Exec) Business Administration and Management from the Australian Graduate School of Management and BSC (Eng)Mech Engineering & Business Honours from the London School of Economics & University College London 

What are the social media accounts Pepperstone?

Traders can follow Pepperstone on the following social media accounts: 

  • Twitter
  • YouTube 
  • RSS Feed 
  • Facebook 
  • LinkedIn

How many employees do work for Pepperstone?

With no official figures regarding the staff contingency of Pepperstone available, the broker’s operation size suggests that at least 200 to 350 people may be employed by the company. 

What are the opinions about Pepperstone?

According to both reviewers and traders, Pepperstone has an excellent reputation in the industry. Positive feedback regarding the broker’s trading platforms, competitiveness, trading conditions, customer support, and educational assistance are found all over the internet. 

What are Pepperstone Contests?

No evidence could be found about any contests run by Pepperstone.

Forex Contests are performed by brokers who offer them to traders to profit on contest winnings. The fact that Pepperstone didn't perform any Forex Contest in the past, may not indicate that they would never do it, so traders should keep looking out for possible announcements in that regard.

Does Pepperstone have online support?

Yes, Pepperstone has an online support team for the benefit of trade account users. There is a live “chat with an expert” option available on Pepperstone's official website. 

Does Pepperstone offer demo accounts for Forex trading?

Yes, Pepperstone offers a free demo account for new traders. The demo account can be opened in a similar way a live account is opened, but without any financial obligation.

  1. Navigate to the account registration page on the broker’s website
  2. Complete the registration form with your personal information, like name, email address, and contact details
  3. Wait for a confirmation email and confirm the link in the email to open the demo account. 

Does Pepperstone have a mobile app for Forex trading?

Yes, Pepperstone offers mobile trading apps. The MT4, MT5, and cTrader platforms are available for Android and iOS smartphones or tablets.

 

Does Pepperstone publish an economic calendar?

Yes, Pepperstone does publish an economic calendar. An economic calendar is an important resource to allow Forex traders to remain up to date on any relevant economic information that may be scheduled to be released and may impact the currency markets. 

Pepperstone’s economic calendar provides information on financial events, their possible and actual impact, as well as forecasts, and previous data.

What is the communication information of Pepperstone?

The physical address of the Pepperstone Group is Level 16, Tower One, 727 Collins Street,

Melbourne, VIC Australia 3008.

The email address for the broker is: [email protected]

Telephone number: 1300 033 375