Pepperstone Broker Review

Author By Jeffrey Cammack
Updated: November 25, 2021
Overall Rating
4.61 4.61 / 5
Rated #3 of 55 Recommended Brokers
🏦  Min. DepositUSD 0
🛡️  Regulated By
💵  Trading Cost 
USD 7.70
⚖️  Max. Leverage400:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments
AlertAccepts Tanzanian Clients. Average spread EUR/USD 0.77 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone Group is regulated by the FCA, ASIC, and the DFSA.

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Our verdict on Pepperstone

Pepperstone is a multi-regulated CFD broker offering ECN trading on Forex, indices, commodities and shares. The beginner and professional trading community admire this Australian broker for their wide trading platform selection including cTrader, MT4 and MT5 and highly industry competitive trading conditions despite a limited selection of tradable products and slightly unimpressive market research.

The cTrader platform, while not the most popular in the world because of limited broker support, is one of the most powerful trading tools available to the retail trader. This cTrader platform, in addition to the MT4 & MT5 choice, combined with remarkably tight spreads (EURUSD – 0.09 pips) on the Razor account, is perfectly suited for the professional or serious amateur trader. For the beginner, the standard account with reasonable trading fees (EURUSD – 1 pip), and the structured education offering will provide a strong base for success. Nevertheless, while some withdrawal methods charge a small fee, it is hard to find fault with Pepperstone and their trading solution.

Reviews

Regulation
11110.54.5/ 5
Trading Conditions
111115/ 5
Trading Platforms
111115/ 5
Deposit & Withdrawal
111104/ 5
Education & Research
11110.54.5/ 5
Assets Available
11110.54.5/ 5
Customer Service
11110.54.5/ 5
Beginner Friendly
Excellent
Welcome Bonus

Account Information

Base Currencies
AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD
Number of FX Pairs
70
Crypto Pairs
19
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Account Name
Razor
Trading Desk
Commission
From 7 USD / lot - Razor Account
EUR/USD
0.17 pips
GBP/USD
0.59 pips
USD/JPY
0.26 pips
Negative Balance Protection

Company Details

Company Name
Pepperstone Pty Ltd
Founded
2010
Website Language
English, Vietnamese, Thai, Chinese, Polish, Arabic, Spanish
Support Language
English, Vietnamese, Thai, Chinese, Polish, Arabic
Office Locations
Australia, UK, Germany, Bahamas, Dubai, Kenya, Cyprus

Pros

  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets

Cons

  • Limited market analysis

Is Pepperstone Safe?

Confirmed by winning of Best Forex ECN broker (UK Forex Awards 2018), this Australian broker has caught the attention of the international trading industry. Regulated by ASIC (license 414530) since 04/02/2013, and the FCA (license 684312) since 05/08/2015, largely recognised as two of the most traditional and strict regulatory agencies in the world. Under this regulation, Pepperstone must adhere by processes that ensure client funds are safe and guarantee that no money laundering is taking place.

As an ECN broker, traders execute their trades on the market without any broker intervention and free of conflict. Due to this business model, robust regulation and industry recognition for their quality, we believe Pepperstone is safe for traders.

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Group Regulators
Trading Desk
Website
Year Founded
Office Locations
Additional Fees
FCA
ASIC
CySEC
DFSA
BaFin
SCB
CMA
2010
Australia, UK, Germany, Bahamas, Dubai, Kenya, Cyprus
20 USD Withdrawal Free

 

Trading Conditions

Two distinct but straightforward account options, three leading trading platforms and transparent fees on deposits and withdrawals, it makes sense that Pepperstone won the award for Best Forex Trading Conditions at the UK Forex Awards in 2018.

Account Types

Pepperstone offers MetaTrader 4, MetaTrader 5 and cTrader on all accounts. At Pepperstone you’ll have two accounts options. They include:

Standard account

There are no commissions attached to this account. Spreads start at 1.0 pips. Pepperstone’s Standard account comes with negative balance protection, so traders never end up owing to the brokerage.

The Razor account

The Razor account claims to come with some of the tightest spreads in Australia. Pepperstone’s Razor account is the more popular among traders and the choice of these two accounts. It takes a minimum of $200 to open the account.

Spreads and Commissions

Rated #1 for both spreads and commissions by Australia FX Report 2017, this ECN broker has industry appreciation for their fairness to their clients.

Spreads are wider on the standard account, where no additional commission is charged on trades. The Razor account has tighter spreads and an additional commission depending on the number of lots traded, and the trading platform used. These commissions are small and in line with industry averages.

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
Pepperstone
111115/ 5
AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD
0.77 pips
USD 7.70
0.17 pips
0.59 pips
0.26 pips
USD 0
FXCC
111115/ 5
EUR, USD, GBP
0.60 pips
USD 6
0.40 pips
0.40 pips
0.40 pips
USD 0
InstaForex
110002/ 5
USD, EUR, RUB
3.00 pips
USD 30
3.00 pips
3.00 pips
3.00 pips
USD 0

 

Deposit and Withdrawal

There are no deposits on for deposits at Pepperstone for transfers made from Visa, MasterCard, PayPal, Poli, China Union Pay, Bank Transfer, BPay, Skrill, Neteller.

Withdrawals that are received before 21:00 GMT are processed the same day as they were received, and funds can only be returned to a bank account in the same name as the one used for the deposit. Pepperstone does not charge an administration fee to process the withdrawal request, but the payment provider may place a charge.

Should you have deposited via Credit/Debit Card then only up to the amount that was initially deposited can be returned via credit card, and the extra will returned by another method. There are no fees for withdrawing via Visa and Mastercard.

Any bank charges issued to Pepperstone for bank transfer of funds will be passed on to the client. Usual fees for in this instance are approximately €20 for international accounts and are free for Australian domestic transfers. For amounts above the initial deposit made from Paypal will incur a 3% fee which is charged by Paypal, and Skrill will charge $1 per transfer.

Pepperstone for Beginners

Pepperstone has structured education for beginner traders and helpful tips for newcomers trying to understand how trading fits into their lives. While the education section is not as detailed as with other brokers, it is one of the better education sections offered by ECN brokers. Award-winning 24/7 hour customer service is available to help answer questions, should you need assistance with either technical or account based queries.

Educational material

An education section called Learn to Trade Forex helps traders with unlying technical concepts, while a section called Trading Guides supports traders with issues that they will confront every day; how to keep a trading journal, developing a trading plan, managing risk, and what questions to ask of your broker. A trading glossary and an FAQ section are on hand for beginner traders.

Weekly webinars pick up where the structured education stops, with more detailed strategy sessions led by expert traders.

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
Pepperstone
Medium
FXCC
Medium
InstaForex
Medium

 

Analysis material

Pepperstone supplies basic analysis material in the form of an economic calendar and market review which is an unstructured news feed of current event analysis.

Customer Support

Customer support is available 24/7 via phone, email and live chat which won Pepperstone the award for Best Forex Trading Support in 2018 (UK Forex Awards).

Pepperstone Trading Platforms

Pepperstone offers traders MetaTrader 4, MetaTrader 5 and cTrader; each of which offers Expert Advisors, automated trading support, strategy backtesting, customisable charting, indicators and copy trading functionality.

All platform choices are free to use, but only MetaTrader 4 and cTrader have web versions of the platform, which have full functionality and may be preferred to the downloaded MetaTrader 4 software. Note that only MetaTrader 4 & 5 have Mac versions of the software for download.

Traders who want more EAs to use, and don’t mind the old interface, should consider using one of the MetaTrader products, but cTrader is usually a favourite for beginner traders as it requires less setup and offers more advanced order types.

All trading platforms offered are considered some of the best available, and considering that Pepperstone offers 24/7 support for them, software should not be a limitation for clients.

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Broker
Platform Choice
Copy Trading
Platforms
FXCC
111104/ 5
InstaForex
111104/ 5

 

Mobile Trading Apps

MetaTrader 4, MetaTrader 5 and cTrader all have mobile and tablet versions. These versions have all the trading capability of the desktop and browser-based versions, so traders have access to the high-speed execution and ordering monitoring while away from their desks.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Pepperstone offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Pepperstone Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Pepperstone would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.8% of Pepperstone Limited’s retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overview

Pepperstone is an internationally recognised FCA and ASIC regulated broker with high-speed trading execution, and an offering for beginners that most ECN brokers don’t have.

With trading platforms that are considered state of the art, along with their online and mobile app counterparts, traders have the power of technology and the trading conditions that have earned Pepperstone their reputation.

AlertAccepts Tanzanian Clients. Average spread EUR/USD 0.77 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone Group is regulated by the FCA, ASIC, and the DFSA.
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