Pepperstone ​Review 2020

Pepperstone Summary

Pepperstone is an Australian-based forex broker that has been operating since 2010 and has managed to expand to reach all corners of the world. 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.

This Pepperstone review will give you in-depth insight on the features of this Forex broker and inform you on its main aspects.

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.

Pepperstone Main Features
🛍️Established in:
2010
🛍️Headquarters:
Australia, UK
⚖️Regulations:
FCA, ASIC
⚖️Country of regulation:
Australia, UK
💰Minimum Deposit:
$200
🎮Platforms:
MT4; MT5; cTrader
🎮Demo Account Available:
Yes
💱Leverage:
1:500
💰Withdrawal fee amount:
$0
💰Inactivity Fee:
No

Background

Pepperstone is a CFD and Forex trading broker that was founded in Australia, in 2010. The initial objective of creating Pepperstone was to offer traders all over the world the option of a broker that consists of advanced technology, low-cost spreads, and an outlet that will allow clients to become expert traders. In 2015, Pepperstone acquired another headquarters in London, in order to be able to reach European Union traders easier.

Pros

  • Regulated by the Finanicial Conduct Authority (FCA) and the Australian Securities and Investment Commission (ASIC)
  • Provides negative balance protection
  • Low non-trading fees
  • No deposit and withdrawal fees
  • Fast account opening process
  • Wide range of account base currencies
  • Selection of trading platforms
  • Provides cryptocurrency

Cons

  • 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.

This Pepperstone review is to inform you on the different entities that Pepperstone is regulated by and the benefits that come with it.

Is Pepperstone Safe?

Pepperstone is a safe Forex broker to trade with because it values the protection of your funds and limiting your financial risks. This Forex broker provides safety to your funds by storing them in segregated accounts away from corporate funds. Pepperstone also conducts audit reports on a regular basis to confirm its obligation to the regulators and ensure transparency.

Pros

  • Regulated by 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.
  • Provides negative balance protection
  • Stores funds in segregated accounts
  • Offers investor protection
  • Regular audit reports as proof of following obligation

Cons

  • No banking license
  • No investor protection outside of the EU

Regulation

Pepperstone is regulated by 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. These three financial regulators are one of the best in the world. By regulating Pepperstone, it proves that Pepperstone is a good broker that is safe to trade with.

Protection

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.

Awards

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 Fees

Pepperstone have 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.

Pros

  • No deposit fee
  • No inactivity fee
  • No withdrawal fee
  • No account fee
  • Low trading fees

Cons

  • Commissions charged per lot
  • Overnight fee charged

Trading Fees

With Pepperstone, you will have to consider being charged commissions for every lot. The commissions you are charged differ in trading platform, in the sense that the commission depends on the trading platform you use. For MetaTrader4, you will need to pay 7.53USD per lot. While with MetaTrader5 and cTrader, you are charged 7USD per lot.

Non-Trading Fees

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.

Leverage

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 with 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
Deposit Fees 0USD
Withdrawal Fees 0USD

Pepperstone Fees Compared To Competitors
Pepperstone AvaTrade  XM
Account Fee No No No
Inactivity Fee No Yes Yes
Deposit Fee 0USD 0USD 0USD
Withdrawal Fee 0USD 0USD 0USD

Account Opening

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 its available features.

Pros

  • Two different trading account
  • The Standard Account charges no commission
  • Hedging allowed
  • Scalping allowed
  • Available leverage of 500:1

Cons

  • Slow account process
  • Razor Account charges 7AUD per 100,000 funds traded

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.

Standard 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.

Razor 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 commission of 7AUD.

How To Open a Pepperstone Trading Account

Pepperstone Account -1

There are four easy steps that will lead you to opening an account on Pepperstone, however you will have to wait three business days for your trading account to be activated.

Step One: Fill in your personal information in the online application

Pepperstone Account Step 1

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.

Pepperstone Account Step 2

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

Pepperstone Account Step 3

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.

Pepperstone Account Step 4

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.

Pepperstone Account Step 4 (2)

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.

Pepperstone Account Step 5

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

Pepperstone Account Step 6 (1)

Step Six: Confirm that you accept the Terms and Conditions of Pepperstone

Pepperstone Account Step 6 (2)

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.

AUD USD GBP JPY EUR
CAD NZD CHF SGD HKD

Deposits

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.

Pros

  • Different payment options
  • No deposit fees
  • Fast deposit process
  • Wide range of account base currencies

Cons

  • None

Pepperstone Deposit Options

  • Credit\Debit Card
  • Electronic Wallet
  • Bank Transfer

Withdrawal

Pepperstone withdrawals take about 2 business days, with different payment options available. You will not find withdrawals fees charged for electronic wallets and credit\debit card. However, withdrawal fees are charged of 20USD for bank transfers of non-EU and Australian traders. Additionally, you will find a wide selection of account base currencies.

Pros

  • Different payment options
  • No withdrawal fees for electronic wallets and credit\debit card
  • Fast withdrawal process
  • Wide selection of account base currencies

Cons

  • Withdrawal fee of 20USD for bank transfers of non-EU and Australian traders

Pepperstone Withdrawal Options

  • Credit\Debit Card
  • Electronic Wallet
  • Bank Transfer

Trading Platforms

Pepperstone provides three trading platform 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.

  • MetaTrader4
  • MetaTrader5
  • cTrader

Web Trading Platform

With Pepperstone MetaTrader4 platform, you will find the basic order types. The five basic order types are: market, limit, stop, good-til-cancelled (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.

Pros

  • Several languages available
  • Clear portfolio and fee reports available
  • Customized indicators
  • Basic order types available

Cons

  • 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 is required for trading; these trading orders are: market, limit, stop, good-til-cancelled (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.

Pros

  • Several languages available on the platform
  • Sets notifications and price alerts
  • Basic order types available
  • Customized indicators
  • Clear fee reports and performance history

Cons

  • 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-cancelled (GTC), and good-til-time (GTT).

The mobile application of MetaTrader4 offers great design and 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.

Pros

  • Quality design
  • User-friendly
  • Basic order types
  • Several languages available on application
  • Set price alerts and notifications

Cons

  • 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
Forex Indices
Stock Commodities
Cryptocurrency

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.

Trading Tools

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.

Pepperstone Tools
API Trading VPS Hosting
cTrader Automate Smart Trader Tools
AutoChartist Social Trading

Pros

  • Different trading tools available
  • Smart Trader Tools improve trade execution
  • AutoChartist offers significant market movements
  • cTrader Automate optimizes your trading strategies

Cons

  • None

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 back test and enhance your trading strategies by building automated robots.

The VPS hosting, or Virtual Private Server, enables you to run automated algorithmic strategies for 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.

Market Research

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.

Pros

  • Different sources of market research materials
  • Several different forms of market research materials
  • News feed is updated daily
  • Many charting tools available

Cons

  • 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.

Customer Service

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.

Pros

  • Different means of communication
  • Fast response time
  • Relevant answers to your questions
  • Accommodating customer service staff
  • Available in several languages

Cons

  • 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.

Client Education

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.

Pros

  • Provides a Demo Account
  • Different forms of resources
  • Step-by-step guide on trading platforms
  • Trading Glossary provides extensive detail on trading terminology

Cons

  • None

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 catalogue 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
  • Webinars
  • Trading Glossary
  • Demo Account

How To Open a Demo Account

Pepperstone Demo Account

You can create your own 30-day Demo Account in 3 easy steps!

Step One: Fill in the online application with your personal information

Pepperstone Demo Account Step -1

Step One: Fill in the online application with your personal information

Step Two: Your Demo Account is ready and you can start trading

Pepperstone Demo Account Step -2

Step Two: Your Demo Account is ready and you can start trading

Conclusion

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 provide 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.

Pepperstone
$200
Min. Deposit
30%
Bonus
Regulated byFCA , ASIC
Leverage1:500
Customer Support24/5
Open Account

Pepperstone Overall Performance

  • Safety and Regulation 98% 98%
  • Deposit and Withdrawal 98% 98%
  • Market Research & Trading Tools 97% 97%
  • Broker Fees 98% 98%
  • Trading Platforms 97% 97%
  • Customer Service 99% 99%
  • Account Opening 98% 98%
  • Market & Financial Instruments 97% 97%
  • Client Education 99% 99%

Frequently Asked Questions

Is Pepperstone Legit?

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. This shows that it is a legitimate Forex trading broker that is safe to work with.. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.

How Long Do Withdrawals Take With Pepperstone?

Withdrawals with Pepperstone take approximately 2 business days.

What is the Minimum Deposit for Pepperstone?

There is a minimum deposit for Pepperstone Standard Account and the Razor Account of 200USD.

Is Pepperstone Regulated?

Pepperstone is regulated by 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. These three financial regulators are one of the best in the world. By regulating Pepperstone, it proves that Pepperstone is a good broker that is safe to trade with.

Is Pepperstone Safe?

Pepperstone is a safe Forex broker to trade with because it values the protection of your funds and limiting your financial risks. This Forex broker provides safety to your funds by storing them in segregated accounts away from corporate funds. Pepperstone also conducts audit reports on a regular basis to confirm its obligation to the regulators and ensure transparency.

Is Pepperstone an ECN Broker?

Yes, Pepperstone is an ECN broker.

Is Pepperstone a Good Broker?

Pepperstone provides negative balance protection and offers investor protection. It also stores funds in segregated accounts and uses SSLY encryption to protect client information.