Pepperstone Review

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Pepperstone Review 2020

Regulated By: ASIC, FCA

Foundation Year : 2020

Headquarters : Level 16, Tower One, 727 Collins St, Melbourne VIC 3008, Australia

Pepperstone Review

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Pepperstone
www.pepperstone.com
Overall Score: 3.6 / 5
Total Votes: 358
Platform
Customer Service
1 – Worst 5 – Best

Member Since Sep 02, 2009 4 posts haystack Jan 13 2020 at 05:01
Member Since Jan 06, 2020 245 posts Mr Nicky (Tradingcompany) Jan 13 2020 at 05:34

haystack posted:
Great New Broker – Just opened my live account and trading is going very well so far.

Lets see what will happen in the long run and let the people decide if it is great

Knowledge Is Power Member Since Aug 27, 2009 69 posts loulou69 Jan 13 2020 at 08:38
[email protected] Member Since Sep 02, 2009 4 posts haystack Jan 13 2020 at 09:03
Member Since Mar 20, 2020 17 posts a2xm Mar 02 2020 at 03:12 (edited Mar 02 2020 at 03:18 )

i’m interested with this broker too..

haystack, how you doing so far?

Trade What You See ! Member Since Sep 02, 2009 4 posts haystack Mar 28 2020 at 05:44
Member Since Jan 31, 2020 71 posts Acme Hedge (acmehedge) Apr 07 2020 at 05:27
Member Since Oct 09, 2020 56 posts Falk (fpuschmann) Apr 27 2020 at 13:18 (edited Apr 27 2020 at 13:34 )

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Yes, they do. And here are the latest news:

The Pepperstone ‘Razor’ ECN Raw Spread Account

The ECN Raw Spread account with allow our clients to trade with Raw Interbank Spreads – without any spread mark up being applied.
Raw ECN Spreads, direct from Pepperstone’s deep liquidity pool
Razor sharp spreads – as low as 0.1 pips on the EURUSD
Commission will be an industry leading $3.50AUD per 100K Traded
The spreads in this account are some of the tightest of the entire industry. The feedback we recieved from clients is that they wanted to trade in an ECN environment – without the restrictions placed on them by other ECN brokers.
Our Industry leading technology will now allow clients to trade in this Raw Spread ECN environment but continue to benefit from trading micro lots (0.01), full hedging capabilities and flexible leverage terms.
We are maintaining a minimum account balance of 200USD for this account – Making this account very accessible to all traders.

Member Since Jun 06, 2020 4 posts Busfarehome11 Jun 20 2020 at 12:00

I have used the standard and razor demo accounts, the spreads work out the same, you either pay for the larger spread or you pay the difference in commission.

I was interested in opening a live account with Pepperstone but was given this information which has made me think twice.

‘Peperstone are a WL of AXI and licensed under CDM which doesn’t even cover market making for FX. Meaning they’re not properly licensed.’

I will try to get verification on this.

Member Since May 13, 2020 1341 posts Steve Walker (walker36) Jun 23 2020 at 01:06

Comıssıon does not make you loose a treade but larger spread does.
I am also plannıng to open a Razor account. If you get verıfıcatıon please let me know.

Pepperstone Reviews

575 • Excellent

Write a review

Write a review

Reviews 575

This one of the best forex companies…

This is one of the best forex companies that exist out there. Great customer service and fast withdrawal.

great broker

great broker! trading here for 4 years
no complaints!

Very great and reliable

I decided to wait till a completed withdrawal

I decided to wait till a completed withdrawal to write this, and it just came through, in less than 24 hours since requested, much faster than my previous broker.

I decided to switch to Pepperstone because although they are an Australian broker (which tends to be the best brokers), Pepperstone have a UK office, where I’m from, great for deposits and withdrawals and customer support, of which has been excellent to me, although my request for an extra account for MT5 is taking a long time, I’ll ask about this, although does not warrant a lower rating at all.

Spreads, trading costs and execution times are as low as you’re going to get from retail brokers, offer MT4, MT5 and Ctrader, lots of choices. And also reassuring they’re regulated by 2 heavyweights the ASIC and FCA. As an experienced trader I’m always sketchy about brokers, especially overseas ones but Pepperstone ticks every box and I’m very happy so far.

Forex Brokers Lab

BROKERS with LOW SPREADS

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BROKERS with MINIMUM DEPOSIT

BEST FOREX BONUSES

Pepperstone

Trust

Commissions and fees

Customer Service

Platform & Tools

Product Portfolio

  • Regulated by FCA and ASIC
  • Tight Spreads
  • Trading at Cryptocurrencies
  • Deep Liquidity
  • Award-winning Customer Service
  • No Stock CFDs
  • Commodity Trade Pricing

Regulators : FCA, ASIC

Minimum Deposit: $200

Maximum Leverage: 1:500

Spreads: Low

My Score: 8.0

Would like to learn comprehensive information about Pepperstone? I am here to transfer all my knowledge to you.

Pepperstone is one of the biggest forex brokers located in Australia. The Company was founded in 2020 by a group of industry professionals with many years of experience in forex and technology fields.

I was already trading at Pepperstone forex broker for a long time. I decided to write Pepperstone review a little deeper in the direction of the questions that came to me.

Is pepperstone is scam or legit? Which account types are more advantageous? Is minimum deposit and spreads low enough? Is maximum leverage satisfying? All you need to do is continue reading this review!

Following its foundation, Pepperstone has quickly become one of the major brokers in forex industry with a transaction volume of more than $ 100 billion per month.

Pepperstone is based in Melbourne but has offices in London, Dallas and Bangkok. So I can say the broker has a very strong position in the international market.

It owns a large number of investors from many different places of the world. Pepperstone’s official website has over 1 million visitors per month from many countries.

However the top 5 visitor countries of the site are Australia, Brazil, Thailand, South Africa and the United Kingdom, respectively, which makes up 39.5% of their visitors. In addition, the broker has won many awards in forex trading.

The company received the award of Australia’s fastest growing company and the entrepreneur of the year in 2020 by BRW magazines. In the area of client satisfaction, it received awards both in 2020 and 2020.

In addition to these, the company has won many more awards.

Pepperstone closely monitored developments in the cryptocurrency market.

The company saw investors’ interest in the cryptocurrencies and provided them to trade as CFD in some crypto-currencies with high transaction volume such as Bitcoin, Ethereum, 0DASH or Litecoin.

Thus, the investors who wanted to profit by the price movements of the crypto currencies also turned to Pepperstone.

Licenses and Regulation

Pepperstone is regulated both in the UK (by FCA) and in Australia (by ASIC). Expansion of FCA is Financial Conduct Authority. FCA license is crucial in forex trading. The watchdog is one of the most trusted authority.

They regulate over 58,000 businesses, they guarantee your money till £50,000. So it’s a big plus that Pepperstone has their license.

Another big advantage of the broker that ASIC (Australian Securities and Investments Commission) also regulates the company which makes sense since the broker based in Australia.

ASIC has tough rules. Not all companies can meet this criteria. For example, ASIC regulated forex brokers need to hold at least $1,000,000 in their company accounts.

A similar broker to Pepperstone, IC Markets is also regulated by ASIC. You can also read my IC Markets vs Pepperstone article which I compare these two Aussie brokers.

Pepperstone’s Spreads and Account Types

We see four different types of accounts in Pepperstone, i.e. Edge Razor Account, Edge Standard Account, Edge Swap Free Account and Active Traders. As you can see in the image below, the main difference between these account types is spreads.

Account types Minimum Deposit Max Leverage Spreads & Commissions
Edge Razor Account $200 AUD 500:1 0.8 pips + $7 per lot
Edge Standard Account $200 AUD 500:1 1.2 pips
Edge Swap Free Account $200 AUD 500:1 1.2 pips

The fourth account is the Active Traders account is preferred by institutional investors or investors with very high transaction volumes. You are applying for this type of account and the firm is making an offer for you based on the transaction volume.

Minimum deposit to trade is $200. On my behalf, this amount didn’t seem high. But, you should consider that there are many minimum deposit offers less than $100 on other brokers.

I consider 1.2 pips quite low If we count the market average. So I consider this as a significant advantage of the broker.

Trading Platforms

Traders who want to open an account and trade in Pepperstone generally use the Meta Trader 4 platform. However, the platform variety of the company is extensive. Investors can also use Meta Trader 5, cTrader, cAlgo and cMirror platforms by Spotware System.

Also, the broker provides Smart Trader Tools. You can improve MT4 experience with these tools by Pepperstone.

In their package, 10 smart trading apps are ready to help you with your trading operations.

Such as, advanced trade operations and administration, decision helper, complex alarms and broadcasting application and recent market data all accessible via one of the leading trading platforms, MT4.

But for accessing smart trader tools, you need to have an account equivalent of $500 AUD.

If we compare with MT4 and MT5, MT5 additionally has ‘Depth of market functionality’. However the difference between cTrader and MT4 is quite much.

cTrader has ‘Depth of market functionality’, ‘Advanced take profit/stop loss levels’, ‘Custom backgrounds’, ‘Datachable charts for multiple monitors’, ‘Cloud hosted profiles’, ‘templates and passwords’ that MT4 lacks.

MT4 has advantages as ‘Being most common platform’, ‘Access historical data through platform’ that cTrader doesn’t have. Other platforms that offer social copy-trading are also available in Pepperstone such as ZuluTrade, MyFxBook or Tradency.

In this way, traders can copy the transactions of another traders who are more professional and successful. By looking at transaction history, you can discover and follow traders who have successful transactions.

Customer Service

Pepperstone customer service is available 24 hours a day. It also supports clients in English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic languages.

Pepperstone customer service has different support channels. Live chat and mail support is one of them. And thanks to personalized customer support, a dedicated account manager may also be assigned to you if you need it depending on the size of your problem.

The customer service was enough to solve my problems.

Funding and Withdrawal Methods

Pepperstone serves traders to open accounts and deposit funds in the following base currencies:

  • United States Dollar (USD),
  • British Pound Sterling (GBP),
  • Euro (EUR),
  • Swiss Franc (CHF),
  • Polish Zloty(PLN).
  • Australian Dollar (AUD)

* These currencies and funding methods may vary depending on the country in which you are located.

Pepperstone has a wide range of deposit methods. Anyone who says I want to deposit, will definitely meet with a suitable depositing method. The following depositing methods are possible, but availability of these methods may vary depending on the country in which you are located.

If you want to use credit/debit cards, MasterCard and VISA is available. You can transmit your money using B2B (Broker to Broker). Bank wire option is possible. Also not many brokers can provide this much e-wallet opportunity as much as Pepperstone.

You can use any of these option to deposit/withdraw your money: Skrill, BPAY, Fasapay, NETELLER, POLI, QIWI WALLET and Union Pay.

Methods Processing Times
(Deposit)
Currencies
Instant USD, EUR, GBP, CHF, PLN, AUD
24 – 72 hours
Mon – Fri
USD, EUR, GBP, CHF, PLN, AUD
Instant USD, EUR, GBP, CHF, PLN, AUD
Instant USD, EUR, GBP, CHF, PLN, AUD
24 – 72 hours
Mon – Fri
USD, EUR, GBP, CHF, PLN, AUD

Trading Instruments Overview

When you open an account at Pepperstone, you can trade in forex, indexes, 80+ currency pairs, cryptocurrencies and oil, natural gas as commodities, gold and silver as precious metals, energy sources.

Forex

Forex is the biggest financial market in the world with $1.5 trillion trading per day. This value is more than three times of the stocks operations.

You can trade 5/24 in Forex which is, in my opinion, very nice. Forex isn’t a market where you can get secret information. Actual money transactions and important news determine the prices. So on paper, all traders are equal.

With Pepperstone you can trade in more than 80 currency pairs. Almost all of the major pairs can be traded. You can also perform minor pairs and some exotic pairs. Maximum leverage available on FX pairs is 1:500.

Stock Indexes

You can trade in 14 major global indexes as CFD. Major indixes such as AUS200, US30, HK50, Japan 225 and GER30 are also included.

Cryptocurrencies

Recently, investors’ interest in the crypto currencies market was quickly noticed by forex brokers. Then some forex brokers started offering trading on cryptocurrencies. It was possible to trade some major crpytocurrencies as CFD in Pepperstone forex brokers.

Price movements are very high in cryptocurrencies. Today the bitcoin, which is $ 10,000, can be $ 12,000 tomorrow. Therefore, high leverage is risky. Maximum levarage is limited as 1:5 at cryptocurrencies.

Precious Metals

You can trade Palladium, Gold, Platinum and Silver against US Dollar and Euro. These metals often goes parallel with market and inflation rates. So we can say these are relatively safe during the market crashes.

Maximum leverage is 1:500 which is same with forex. There is no commission fee. You take hedge position from your sole account. The lowest trade amount required is $0.1.

I always recommend to consider risks before trading. The similar risks are valid for precious metals as well.

Energy

All people who has a pepperstone account, can trade on Oil and Gas.

WTI is West Texas Intermediate crude oil. Low Sulphur ratio made the oil to have an informal name ‘sweet’ oil. It’s traded as XTI/USD. Since it’s the North American oil, it heavily affected by the developments in the region.

British Oil is actually the oil produced in the North Sea. It’s called Brent Crude Oil and traded as XBR/USD. 2/3 of world’s oil producers use it as a criterion.

Traded as XNG/USD which is natural gas of the United States. It’s affected by global news but also developments in US. The weather can be decisive since it can determine the demand.

Soft Commodities

This type of commodity may be good way to diversify for trading. Because, commodity prices determined by actual transfer of physical assets.

I find this type of trading exhilarating. But traders should be cautious if they lack basic knowledge about these soft commodities. The total economic growth of the world is the main factor of prices, because people will ask for more energy.

Coffee

Most of us simply drink Coffee for its stimulant effect. But I guess so few of us had thought about factors of coffee price. Seasonal factors play the key role to determine supply. You can deepen your knowledge and trade with this favorite drink of all.

Cocoa, Sugar, Cotton and Orange Juice

You can also learn the essential factors of pricing of these commodities and trade with them.

Final Thoughts

In summary, Pepperstone is one of the best forex brokers in the world. There are important awards from independent organizations both in the area of customer service and in execution time of its platforms. There are no problem about regulations and investor protection issues.

The company regulated by 2 major regulator, one of them is FCA in the UK and the other is ASIC in the Australia.

I made significant profits during my trades at Pepperstone and did not encounter any problems when I want do withdraw. I have not encountered the issue of slippage and spread widening which is the most frequently complained issues of Forex.

The leverage ratio is satisfying for people who want to like to take more risk. Also you shouldn’t skip the wide range of trading platforms.

There are many trading instruments, you can even trade with orange juice! It’s a great opportunity. So yeah, Pepperstone is among the forex brokers I have tried and recommend.

Please comment below about your thoughts and experiences.

About Valentin Cote

I’m Valentin Cote and I am the founder of this blog. In this blog, I review brokers according to the demands of the visitors. I also write useful content for traders. My goal is to share what I know about the forex world. Send me an e-mail for your questions

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Pepperstone

Trust

Commissions and fees

Customer Service

Platform & Tools

Product Portfolio

  • Regulated by FCA and ASIC
  • Tight Spreads
  • Trading at Cryptocurrencies
  • Deep Liquidity
  • Award-winning Customer Service
  • No Stock CFDs
  • Commodity Trade Pricing

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5 COMMENTS

I have been a victim of a fraudulent investment company Umarket.com of that was claiming to be trusted online broker firm. After defrauding me for over 50,000EUR my account with them was blocked, since I requested to withdraw my funds, they didn’t grant me access to withdraw my invested capital on the account,and i have had no access to my account on their site, and no way of retrieving my funds.

Do not make the mistake I made by not confirming “maximum spread”! Ask pepperstone for their maximum spread for each pair you want to trade and make sure they email it to you in writing.

Pepperstone spread can go as high as 50pips for GBP pairs etc but they don’t tell you that on their website they just tell you the minimum and average spread (the average spread is even questionable).

Most people stoploss are below 50 pips this means your stoploss can be activated by the spread alone and your take profit (for sell position) can be pushed 50pips away due to spread manipulation from the company. Hence, the reason majority of traders lose money.

Spread is one of the major tool used by companies like Pepperstone to swindle their clients. If you complain they will say it’s due to low liquidity. In my case they say it’s due to low liquidity caused by bank holiday but then I responded “The spread has reduced back after my position closed but we are still in bank holiday” they didn’t know what to respond but said “I agreed to their terms and condition.”

I have told the company I will let people know about their dishonesty and they should be transparent enough to publish their maximum spread for each pair on their website, so they can be held accountable when they deviate from it. MY ADVICE IS “DO NOT FUND YOUR ACCOUNT OR TRADE IF YOUR NOT PROVIDED IN WRITING THE MAXIMUM APPLICABLE SPREAD. NOTE WITHOUT MAXIMUM, IT MEANS THE SPREAD CAN BE INCREASED TO INFINITY. THEREFORE YOU CAN BE WIPED OUT ANYTIME NO MATTER HOW GOOD YOUR ENTRY POSITION”. BE WISE.

It is one of the most reliable brokers on the world. ASIC license is very safe for investors. I would definitely recommend it.

I opened an account in Pepperstone 2 months ago. Customer service is excellent, execution speed is very good. The withdrawal process is a bit slow, but at least the reliable broker with FCA and ASIC-licence.

great broker. Deposits and withdrawals are very fast. I use credit card as payment method and I can start trading within seconds.

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