What is Pepperstone?
Pepperstone is part of the Pepperstone Group Limited, an Australian-based company operating since 2010. The broker has managed to expand across all corners of the earth. With more than 60 currency pairs and three different asset classes, Pepperstone has made a name for itself as a regulated FCA and ASIC Forex broker.
Pepperstone Limited, the British counterpart of the broker, was launched in the UK in 2016. It was established to expand the services of the group and cover the needs of their UK and European clients, by providing local regulations and access.
Pepperstone is a Forex broker that is regulated by two of the top-tier financial regulators around the world. This Forex trading broker provides traders with the ability to trade with confidence and have access to a trading community.
You will be able to social trade and use the knowledge from the trading community to your advantage. As a client, your personal information and funds are safely stored away in segregated accounts and you are always protected under the provision of negative balance protection.
What type of broker is Pepperstone?
Pepperstone offers its clients the most complete trading experience in the online forex trading community. The broker’s lightning-fast execution systems, multiple account types, competitive pricing, and multiple platforms (MT4, MT5, and cTrader) outshine the vast majority of worldwide forex brokers.
Pepperstone originally intended to be a specialized forex broker, providing access to interbank execution and low spread pricing to experienced and institutional traders. However, the broker evolved into providing services to both retail and institutional traders through low-cost pricing by the multiple direct destinations of liquidity, without a deal desk, and became an execution-only broker.
|Pepperstone Main Features|
|⚖️Country of regulation:
MT4; MT5; cTrader
|?Demo Account Available:
|?Withdrawal fee amount:
- Regulated by the FCA and ASIC
- Provides negative balance protection
- Low non-trading fees
- No deposit and withdrawal fees
- Fast account opening process
- Customer service not available 24\7
- Does not hold a banking license
- Limited range of asset classes
- High withdrawal fee for traders outside Australia and the EU
Safety & Regulation
Pepperstone is a regulated Forex broker from three top-tier financial regulators in the world: the Australian Securities and Investment Commission (ASIC) in Australia, the Dubai Financial Services Authority (DFSA) in UAE, and the Financial Conduct Authority (FCA) in the UK. However, Pepperstone does not hold a banking license.
Is Pepperstone Safe or a Scam?
Pepperstone is considered low-risk and a highly trusted broker. Pepperstone is not publicly traded and does not have a banking license related to ancillary services. Pepperstone is authorized by two tier-1 regulators (high trust), two tier-2 regulators (average trust), and one tier-3 regulator (low trust).
Pepperstone is authorized by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA). Pepperstone is authorized by the following tier-2 regulators: Dubai Financial Services Authority (DFSA) and the Cyprus Securities and Exchange Commission (CySEC).
- Regulated by ASIC in Australia, DFSA in UAE, and the FCA in the UK.
- Provides negative balance protection
- Stores funds in segregated accounts
- Offers investor protection
- Regular audit reports as proof of the following obligation
- No banking license
Pepperstone offers the highest protection to their traders, per financial regulations from the FCA, ASIC, and the DFSA. As a regulated Forex trading broker, Pepperstone is obligated to store client funds in segregated accounts away from corporate funds. This CFD and Forex trading service provider conducts audit reports on a regular basis to ensure that it is complying with all of the regulator’s conditions.
Does Pepperstone offer negative balance protection?
The broker offers an automated stop-out policy designed to minimize your losses and take action before the market moves further against your open positions. The level at which the automated stop-out occurs depends on the platform you’re using, and the policy regarding covering negative balances varies depending on the circumstances.
For MT4 and MT5 accounts, the automated stop-out system will begin to close out trades when account equity falls below 20% of the margin requirements (ie. margin level falls below 20%). For cTrader accounts, the automated stop-out system will begin to close out trades when account equity falls below 50% of the margin requirements (ie. margin level falls below 50%.
Pepperstone has won more than eight awards in 2019 from four different institutions, which is a rarity for Forex brokers. One of the awards it has won in 2019 is the Best Client Relationship Manager Service from the Professional Trader Awards. Pepperstone has also been rewarded the Best Global Forex ECN Broker and the Best Forex Trading Support in Europe from the Global Forex Awards.
Pepperstone has also received multiple awards from the Investment Trends Australia Leverage Trading Report.
Pepperstone has low non-trading fees and you can think of its trading fees as low. This Forex trading broker will require you to pay an overnight charge and commissions differ per trading platform. However, there are no non-trading fees that you need to consider, all non-trading transactions are free of charge.
This Pepperstone review will give you a run-down on all the fees that you will need to consider before trading with Pepperstone.
- No deposit fee
- No inactivity fee
- No withdrawal fee
- No account fee
- Low trading fees
- Commissions charged per lot
- Overnight fee charged
Does Pepperstone charge any commission?
Pepperstone only charges a commission to clients using the Razor Accounts. Using the Razor Account, a trader can trade with interbank spread quotes starting from 0 raw pips. Pepperstone applies transparent conditions and a quite competitive commission of $3.5 per lot per 100,000 USD traded.
Pepperstone does not have any non-trading fees, which means that the fees you pay from non-trading transactions are completely free of charge. There are no deposit fees or withdrawal fees. You will not have to worry about paying a fee for being inactive on Pepperstone or pay an annual account fee to keep your trading account open.
Pepperstone has licenses from three different financial regulators: the ASIC, the FCA, and the DFSA; this means that there are three different leverage options. Pepperstone offers a maximum leverage level of up to 500:1 in ASIC, while the DFSA allows up to a maximum leverage level of 50:1. As for the FCA, the standard maximum leverage level is up to 30:1.
|Deposit Fees and Withdrawal Fees|
|Pepperstone Fees Compared To Competitors|
Pepperstone offers two different trading accounts: the Standard Account and the Razor Account. Both trading accounts are available for traders and you will have access to both trading accounts. The Standard Account does not charge any commissions, but the Razor Account charges a 7AUD commission for every 100,ooo funds traded.
This Pepperstone review will show you the different types of trading accounts and their available features.
- Two different trading account
- The Standard Account charges no commission
- Hedging allowed
- Scalping allowed
- Available leverage of 500:1
- Slow account process
- Razor Account charges 7AUD per 100,000 funds traded
What is Pepperstones Minimum Deposit?
With Pepperstone, you will have to make a minimum deposit amount of 200USD, which is a requirement for all live traders. The 200USD minimum deposit is required from both the Standard Account and the Razor Account.
The Standard Account is a trading account that allows hedging and scalping for traders. You will find institutional grade spreads, starting from 1.0 to 1.3 pips. There are no commissions charged for the Standard Account, which means that you will not have to pay any extra fees for trading. The Pepperstone Standard Account is best for new traders who are just trying out in the trading world since it is a basic account.
The Razor account is a trading account that is best suited for scalpers and algorithmic traders, where you have access to institutional grade spreads that start at 0.0 to 0.3 pips. You will have to keep in mind that there is a 7AUD commission charged per 100K traded, which means that whenever you trade 100K of your funds then you will have to pay a commission of 7AUD.
How To Open a Pepperstone Trading Account
Step One: Fill in your personal information in the online application
Step Two: Fill in your personal details, including a secret question and answer, as a form of verification.
Step Three: Choose your preferred trading platform, base currency, and account type
Step Four: Select from the list your income and employment details, such as what industry are you employed in and what is your annual income amount.
Step Five: You will be required to take an appropriateness test to evaluate your trading knowledge.
Step Six: Confirm that you accept the Terms and Conditions of Pepperstone
Deposit & Withdrawal
With Pepperstone, you will find a wide range of account base currencies and a selection of different payment options. However, you will have to consider that bank withdrawals for non-EU or Australian traders have a 20USD fee. On the other hand, all other payment options have no withdrawal or deposit fees.
This Pepperstone review will express the different account base currencies and payment options.
Account Base Currencies
Pepperstone offers ten different account base currencies, which is considered a wide range compared to other Forex trading brokers. These account base currencies are options to choose as the currency you will trade with on your trading account. You can choose from one of the following ten currencies: AUD, USD, GBP, JPY, EUR, CAD, NZD, CHF, SGD, and HKD.
With Pepperstone, you will not have to pay a deposit fee; all deposits are free of charge. You will find that there are ten different base currencies that you can choose from. The deposit process is a fast process, which is an important feature for traders. There are three different payment options: electronic wallets, bank transfers, and credit\debit cards.
- Different payment options
- No deposit fees
- Fast deposit process
- Wide range of account base currencies
Pepperstone Deposit Options
- Credit\Debit Card
- Electronic Wallet
- Bank Transfer
Pepperstone withdrawals take about 2 business days, with different payment options available. You will not find withdrawal fees charged for electronic wallets and credit\debit cards. However, withdrawal fees are charged with 20USD for bank transfers of non-EU and Australian traders. Additionally, you will find a wide selection of account base currencies.
How do I withdraw money from Pepperstone?
The process of withdrawing from Pepperstone is simple, as follows:
- Log in to your personal Pepperstone account.
- Click on ‘Funds’ in the menu on the left.
- Click on ‘Withdraw Funds’
- Choose a withdrawal method from the available options.
- Select the account you want to withdraw from.
- Enter the desired amount.
- Click the right arrow on the right side of this panel to go to the next step and confirm the transaction.
- Different payment options
- No withdrawal fees for electronic wallets and credit\debit card
- Fast withdrawal process
- A wide selection of account base currencies
- A withdrawal fee of 20USD for bank transfers of non-EU and Australian traders
Pepperstone Withdrawal Options
- Credit\Debit Card
- Electronic Wallet
- Bank Transfer
Pepperstone provides three trading platforms for traders to use: MetaTrader4, MetaTrader5, and cTrader. You will find that there are several languages on the trading platforms available for all traders to choose from.
This Pepperstone review will use the MetaTrader4 platform as an example of analyzing the trading platforms of this Forex broker.
Web Trading Platform
With the Pepperstone MetaTrader4 platform, you will find the basic order types. The five basic order types are market, limit, stop, good-til-canceled (GTC), and good-til-time (GTT). These order types are the basic orders needed to make a trade.
The MetaTrader4 web trading platform does not allow any price alerts or notifications; however, you will be able to do so on the desktop trading platform. You will be able to view your transaction history and your past trading performance with a clear fee report. In terms of security, you will only have the option of a one-step login without additional verification.
- Several languages available
- Clear portfolio and fee reports available
- Customized indicators
- Basic order types available
- The only one-step login process
- Outdated design
- No alerts and notifications
Desktop Trading Platform
The MetaTrader4 desktop trading platform is similar to the web trading platform. You will find the five basic order types that are required for trading; these trading orders are: market, limit, stop, good-til-canceled (GTC), and good-til-time (GTT).
The MetaTrader4 desktop trading platform allows you to set price alerts and notifications, in the form of push notifications. You will also be able to look through your transaction history and trading performances. However, the downside of the desktop trading platform is that there are no additional verification methods to add an extra layer of protection while logging in. The MT4 desktop trading platform also has an outdated design that makes it hard to navigate.
- Several languages available on the platform
- Sets notifications and price alerts
- Basic order types available
- Customized indicators
- Clear fee reports and performance history
- Outdated design
- One-step login process
Mobile Trading Platform
The MetaTrader4 mobile trading platform is similar to the web trading platform and the desktop trading platform, in terms of basic order types. You will have access to the five basic order types, which you will need to trade. The five basic trading orders are market, limit, stop, good-til-canceled (GTC), and good-til-time (GTT).
The mobile application of MetaTrader4 offers a great design and a user-friendly interface that makes it easy to navigate. You will be able to set price alerts and notifications, in the form of mobile notifications. Traders will be able to use the mobile application in several languages, which is a great feature. You will not be able to rely on additional protection on your login credentials. Traders also cannot access fingerprint or facial recognition as a form of logging in.
- Quality design
- Basic order types
- Several languages available on the application
- Set price alerts and notifications
- One-step login process
- No fingerprint or facial recognition
Markets & Financial Instruments
Pepperstone offers a wide range of financial instruments and access to four different financial markets. One of the financial markets is cryptocurrencies, which is uncommon for Forex brokers.
This Pepperstone review informs you of the different financial instruments and financial markets.
|What Pepperstone Offers|
Pepperstone offers four different financial markets, with a wide range of financial instruments. There are 61 currency pairs you can trade with, 14 stock index CFDs, 64 stock CFDs, 16 commodity CFDs, and 5 cryptocurrencies. Cryptocurrencies include Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Dash.
Markets Research & Trading Tools
Pepperstone provides an extensive trading database of market research and trading tools, which is all available for you. These trading tools will enhance your trading experience, and the market research materials will improve your trading knowledge.
This Pepperstone review will determine the different market research materials and trading tools that will help you with your overall trading experience.
There are five main trading tools that Pepperstone offers to traders, which will enhance your trading experience. As an active trader, you will have access to Smart Trader Tools, AutoChartist, Social Trading, API Trading, VPS Hosting Server, and cTrader Automate.
|API Trading||VPS Hosting|
|cTrader Automate||Smart Trader Tools|
- Different trading tools available
- Smart Trader Tools improve trade execution
- AutoChartist offers significant market movements
- cTrader Automate optimizes your trading strategies
There are five main trading tools, which are: Smart Trader Tools, AutoChartist, cTrader Automate, API Trading, Social Trading, and VPS Hosting Server. The Smart Trader Tools package enhances your trading experience through 28 trading applications, including expert advisors (EAs) and custom-made indicators. AutoChartist is a market scanner that offers statistically significant market movements and determines major price levels. cTrader Automate, previously known as cAlgo, allows you to backtest and enhance your trading strategies by building automated robots.
The VPS hosting, or Virtual Private Server, enables you to run automated algorithmic strategies 24\7 on a virtual system. The fourth trading tool is API Trading, which utilizes automated trading systems or establishing your own custom-built system. Social trading with Pepperstone is the ability to interact with other traders and share opinions, strategies, and knowledge.
Pepperstone provides market research materials that are provided on three different sources: trading platforms, the Pepperstone website, and Secure Client Area. You will find four main market research materials, such as: Trading Ideas, News Feed, and Charting Tools.
- Different sources of market research materials
- Several different forms of market research materials
- The newsfeed is updated daily
- Many charting tools available
- No fundamental data available
- Charting tools are hard to navigate
You will find the trading ideas available through AutoChartist, which are based on technical tools. Pepperstone, additionally, offers 31 charting tools and technical indicators that will help you enhance your trading strategies. However, the design is outdated and hard to navigate.
The news feed offers different news pieces on the trading world, to keep you updated on the rest of the world.
Pepperstone offers top-quality customer service with excellent staff and a fast response time. You can reach them on several means of communication, but you will not find them available 24\7.
This Pepperstone review will show you the different means of communication that is offered by the Pepperstone staff.
The Pepperstone customer service support is not available 24\7, but there are other factors that make up for its unavailability during weekends. You will find that they respond at a fast pace and the answers they provide are relevant to your inquiries. You can reach them via phone, email, and live chat. With Pepperstone, you will find that you can contact the customer service department in several languages including: English and Russian.
- Different means of communication
- Fast response time
- Relevant answers to your questions
- Accommodating customer service staff
- Available in several languages
- Not available 24\7
Means Of Communication
- Live Chat
- Email Support
- Phone Support
The customer service staff is very accommodating, which has caused an outpour of positive feedback from the traders. It was explicitly mentioned that customer service has improved the trader’s overall trading experience and allowed them to feel more interactive with the broker.
Pepperstone provides traders with an extensive catalog of educational resources to access for any knowledge relevant to trading. You will find videos, webinars, articles, and a practical approach.
This Pepperstone review will show you a step-by-step guide on how to open your own Demo Account.
- Provides a Demo Account
- Different forms of resources
- Step-by-step guide on trading platforms
- Trading Glossary provides extensive detail on trading terminology
With Pepperstone, you will be able to access all kinds of educational resources, including a Demo Account. Pepperstone offers a step-by-step tutorial on how to use all three trading platforms. You will also be able to learn from educational articles on trading, and webinars from trading experts. The Trading Glossary is a catalog of trading information that will give you all trading data. Additionally, you will have the ability to use a simulation of this Forex broker through the Demo Account.
Client Education Resources
- Platform tutorial videos
- Educational articles
- Trading Glossary
- Demo Account
How To Open a Demo Account
Step One: Fill in the online application with your personal information
Step Two: Your Demo Account is ready and you can start trading
Pepperstone is a Forex broker that has been operating since 2010, with regulations from the Australian Securities and Investment Commission (ASIC) in Australia, the Dubai Financial Services Authority (DFSA) in UAE, and the Financial Conduct Authority (FCA) in the UK.
Pepperstone provides two trading accounts with no deposit fees and withdrawal fees: the Standard Account, and the Razor Account. This Forex trading broker stores funds in segregated accounts, and provides negative balance protection. There are no high trading fees and no high non-trading fees.
Overall, Pepperstone is a safe broker that values the protection of client information and client funds. This Forex broker operates on a transparent process of conducting regular audit reports to prove that the financial obligations are being met.
2021 Review Methodology
For our 2021 Forex Broker Review, we assessed, rated, and ranked 45 international forex brokers over a three-month time period. Each broker was graded on 108 different variables and, in total, over 100,000 words of research were produced.
While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.
All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 0.1% each year, providing site visitors quality data they can trust. Learn more about how we test.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.
Director of Research&Analysis
Chad Smith is the Director of Research&Analysis here at ForexBrokerListing.com.
Chad previously served as an Editor for a number of websites related to finance and trading, where he authored a significant number of published articles about trading and the impact of technology in transforming investing as we know it.
Overall, Chad is an active fintech and crypto industry researcher with more than 15 years of trading experience, and you can find him teaching his dog how to trade in his free time.
- Regulation 65% 65%
- Fees 86% 86%
- Instruments 50% 50%
- Trading Platforms 50% 50%
- Customer Service 50% 50%