Pepperstone Review

Pepperstone Review

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Pepperstone is an award-winning FX and CFDs broker chosen by 300,000* traders globally. Trade 1000+ instruments including commodities, cryptocurrencies**, shares, ETFs and more.

Regulated in seven jurisdictions, Pepperstone delivers top-quality pricing, products, speed and service to traders all over the world.

Pepperstone was founded in 2010 by a team of experienced traders who shared a commitment to improving the world of online trading. Since then the broker has grown rapidly and is now one of the largest MetaTrader and cTrader brokers in the world.

Today Pepperstone is a multi-regulated firm with offices in London, Cyprus, Düsseldorf, Melbourne, Dubai and Kenya.

Pepperstone is well regulated by seven top financial authorities:

  • The Financial Conduct Authority (FCA) in the United Kingdom
  • Australian Securities and Investments Commission (ASIC) in Australia.
  • The Dubai Financial Services Authority (DFSA) in UAE
  • The Federal Financial Supervisory Authority (BAFIN) in Germany
  • The Cyprus Securities Exchange Commission (CySEC) in Cyprus
  • The Competition and Markets Authority (CMA) in Kenya
  • The Securities Commission of The Bahamas (SCB) in Bahamas

During liquid times, the spreads that Pepperstone charges might go as low as 0 pips on the major trading currencies such as EURUSD.

Pepperstone’s portfolio of trading instruments is mainly around Forex, Indices, Commodity CFDs, Share CFDs, Cryptocurrencies and Currency Indices.

Apart from that, the online trading platforms that Pepperstone offers are MT4, MT5, and their CTrader software (developed by Spotware) which is one of the best forex brokers for beginners.

The tools and charting that you’ll find in MT4 platform is comprehensive and easy to customise.

Also, the broker is offering fair educational materials such as webinars, plus a demo account that helps you practice trading before doing the actual job.

Our editorial team have tested their online platform and evaluated their service, and decided to rate Pepperstone as:

Pepperstone is a no deposit broker which makes it easy to start, especially for beginners. The index fees that they charge for forex and equity are pretty low as well. The bright side is their decent customer support too. Lets deep dive to other aspects of this broker and help you get started.

Why Trade with Pepperstone?

Security

Pepperstone is regulated by ASIC, FCA, CySEC, CMA, DFSA, BaFin and SCB. All money is held in segregated client bank accounts at regulated banks.
Learn more on how Pepperstone keeps client funds safe.
Razor-Sharp Pricing

Pepperstone uses multiple liquidity providers from Tier 1 banks to give clients access to razor sharp pricing and deep liquidity on all instruments. All trades are filled in full, with no partial execution or requotes on market orders.

Access spreads as low as 0.0 pips^. Competitive prices include:

  • 14 Major FX pairs with spreads from 0
  • Spot gold spreads from 0.05
  • GER30 spreads from 0.9
  • NAS100 spreads from 1
  • Crude oil spreads from 2
  • Many more instruments with razor sharp spreads

Click here to view all Pepperstone’s spreads.

Reliability

Get 99.9% fill rate1, fast execution and no dealing desk intervention on all trades.

Seamless Trading

All Pepperstone traders have access to their own personal client area where they are able to fund and withdraw securely and without incurring any fees. There are a full range of funding and withdrawal options available.

At Pepperstone, you can deposit and withdraw money via bank transfer, debit or credit card or from the following electronic wallets: POLi, BPay, PayPal, Neteller, Skrill, Union Pay.

Basic withdrawal and depositing with Pepperstone is free of charge.

Click here for more information on Funding and Withdrawals.

Exceptional Customer Support

Pepperstone has achieved worldwide trust because of their award-winning customer support. The broker takes pride in its exceptional client service, offering multilingual support 24hr 5 days a week and 18hr on weekends across email, live chat and phone.

Find out more about Pepperstone’s support services here.

Compare Pepperstone AlternativesPepperstone fees and commissions

To choose the right broker you must know how CFD brokers make money. Whether they charge you commissions, spreads, or hedging, you should be smart and be aware of the other fees that online brokers might charge you. The numbers are for illustrative purpose only**

Generally a broker charges you a fee when you perform any trade on their platform. This is called “Trading Fees” and come in forms of:

  • Commissions
  • Spreads
  • Financial Rates
  • Conversion Fees

Pepperstone Platforms and Tools

With Pepperstone you can choose to trade on the most popular MT4, most powerful MT5 and most user friendly cTrader

These platforms are available on Windows and Mac OS for desktop, iOS and Android for mobile and tablets, and on our web app, WebTrader.

Pepperstone offers a wide range of Smart Trader Tools. They’re easy to use, install and access, and are exclusive to MetaTrader 4 and MetaTrader 5 (minimum £100 account balance required).

You can explore the full range of tools available including:

  • Mini Terminal and Smart Lines: manage your risk like a professional with our most popular risk management tool.
  • Trade Terminal with enhanced functionality: control all your trades from a single and powerful terminal.
  • Correlation Matrix: master the ability to trade non-correlated currency pairs.

Educational Resources

Catering to both the new and experienced trader, Pepperstone offers access to a wide range of educational resources.

With their own team of global market analysts, the broker provides clients with high impact economic event coverage, expert commentary, videos and more. Explore Pepperstone’s market analysis section here.

Pepperstone also offers a wider range of trading guides categorised by beginner, intermediate and advanced levels. Such guides include ‘Five Ways to Survive in Extreme Volatility’, ‘What are the benefits of EA trading?’ and ‘How to develop a Trading Plan’.

Every week Pepperstone invites its traders to attend expert-led webinars, including the Sunday Night Pre Market Open webinar. Every Sunday a group of professional traders discuss crucial events and political news that will impact markets ahead of ‘market open’.

Pepperstone Online Trading AppWhich one is better, WebTrader or MetaTrader?

The trading platform for beginners and professional traders, We think they deserve it.

Pepperstone’s trading platforms are available on Windows, Mac, and their trading apps are great for  IoS and Android mobile phones. For those who wish to trade on a browser, you can use their web app, WebTrader.

The broker offers a new feature for having access to hundreds of trading opportunities based on key support and resistance levels. The feature is called Autochartist.

To add more security and protect your account, you can set up a two-step login feature in your profile.

The UI & UX of CTrader is unique and user-friendly.

If you are an experienced trader, you should know about MT4, you can leverage on trading signals to automatically copy trading operations in real time.

You can intervene at any time to close trades, change capital allocation, update your stop-loss or remove the strategy.

The MT4 platform looks like this:

mt4 1

When it comes to trading, customer service plays a big role.
Overall, Pepperstone customer support team responds fast via email (but they do not answer to calls).

They have a thorough FAQ and step-by-step guide to read and get started for trading.

How to Open an Account at Pepperstone?

Opening a Pepperstone trading account

Opening an account with Pepperstone is quick and easy. Whatever your trading style or experience level, there is an account type to suit you. Pepperstone offers both standard and razor CFD and Spread Betting accounts.

You also have the option to trial a demo account before opening a live account. This is sometimes a preferred option for those new to trading or looking to practise trading strategies in a risk-free environment.

Step by step guide to opening a Pepperstone account

How to open a live account:

  1. Create your login: Enter your details and choose a password to create your account.
  2. Take the appropriateness test: This short questionnaire allows an assessment into which trading derivative products are appropriate for you.
  3. Confirm your ID: You’ll need two ID documents – a photo ID and a secondary ID.
  4. Fund and trade: Once your application is approved, you can log in and fund your account.

How to open a demo account:

  1. Create your demo account: Complete a simple application form
  2. Download your trading platform: Choose from three powerful platforms, MetaTrader 4, MetaTrader 5 and cTrader, or trade through your web browser with the WebTrader app.
  3. Start trading: Practise your trading strategies with up to £/€/$50,000 in virtual funds and real market pricing for the next 30 days.

What Trading Products Pepperstone offer?Pepperstone Trading Instruments:

The trading options that are available to you at Pepperstone are:

  • Forex
  • Indices
  • Commodity CFDs
  • Share CFDs
  • Cryptocurrency
  • Currency Indices

Tip: When you buy with no leverage (leverage=1) you buy real stocks and not contract for difference.

That’s why Non-leveraged buy positions for equities, ETFs and cryptocurrencies (digital currency) are traded as real assets. (You might want to learn hedging strategies and be aware of the risks of price movements)

All other positions are kind of contract for difference (this applies to CFD traders). An example could be leveraged buy positions and all sell positions of stocks, ETFs and cryptos as well as all forex, commodities and indices positions.

Disclaimer: Indicative prices; current market price is shown on the broker’s trading platform. Past performance is not an indication of future results. The trading history presented is less than 5 years old and may not suffice as a basis for investment decisions. This post is not investment advice.

Pepperstone’s Commission Structure

Commissions are only charged on CFD Razor accounts when trading Forex and on CFD Equities.
For MT4/5, these commissions are based on your chosen account currency and the lot size of your trade. For cTrader, commissions are calculated as 7 units of the base currency per lot of the FX pair you’re trading.
MT5

Trading account currency Commission per 0.01 lots (1000 base currency) Commission per 1 lot (100,000 base currency)
USD USD 0.04 (USD 0.08 round turn) USD 3.50 (USD 7 round turn)
EUR EUR 0.03 (EUR 0.06 round turn) EUR 2.61 (EUR 5.23 round turn)
GBP GBP 0.02 (GBP 0.05 round turn) GBP 2.29 (GBP 4.59 round turn)
CHF CHF 0.03 (CHF 0.06 round turn) CHF 3.30 (CHF 6.60 round turn)

MT4

Trading account currency Commission per 0.01 lots (1000 base currency) Commission per 1 lot (100,000 base currency)
USD USD 0.04 (USD 0.08 round turn) USD 3.76 (USD 7.53 round turn)
EUR EUR 0.03 (EUR 0.06 round turn) EUR 2.61 (EUR 5.23 round turn)
GBP GBP 0.02 (GBP 0.05 round turn) GBP 2.29 (GBP 4.59 round turn)
CHF CHF 0.03 (CHF 0.06 round turn) CHF 3.30 (CHF 6.60 round turn)

Commissions on cTrader Accounts are based on 0.0035% of the base currency that’s being traded. For example, if you’re trading 100,000 of EUR/USD the commission charge will be €3.50 EUR to open the contract and €3.50 EUR to close out the Contract.
Pepperstone doesn’t charge commissions on trades made on CFD Standard accounts, however there is a 1 pip markup on the raw spreads.

Conclusion: Pepperstone Review

4.5/5

Is Pepperstone Legit?

After careful evaluation, we believe Pepperstone is among top-tier stocks cfd brokers, especially when it comes to trading CFD and forex.

A couple of reasons are:
it is regulated and being listed in the stock exchange, that makes it safer to trade.

Also, it is regulated by several financial authorities globally in UK and Australia.

Good thing is that Pepperstone’s trading fees on forex and stock index CFD are low.
When it comes to deposit and withdraw, it’s great for Australian and European citizens, however, its high bank withdrawal fee for anyone who lives outside those who regions is a disadvantage.

Withdrawal process is done pretty fast. Opening live or demo account is also fully automated and very easy.

The overall pros and cons are:

Pros and Cons

Pros:

✓ Spreads from 0.0 pips*

✓ Top tier liquidity

✓ Fill rate of up to 99.9%1

✓ 30ms execution

✓ No dealing desk intervention

✓ #1 for overall customer satisfaction2

✓ Reliable platforms

✓ Regulated in 7 jurisdictions

✓ 1000+ CFDs

✓ EA trading

Cons:

X Demo account is not unlimited

X US traders are not permitted to open an account

Is Pepperstone Scam or Regulated?

This broker is regulated by:

  • (ASIC) in Australia also known as Australian Securities and Investments Commission
  • (FCA) in the United Kingdom also known as Financial Conduct Authority

How to open my trading account?

Follow these steps to learn how to open trading account:

1. Get ready with your email address
2. Select the country of residency.
3. Provide demographic data
4. Choose your preferred online trading platform
5. Select your account type & base currency.
6. Explain your trading experience and provide employment history
7. Provide identity and residency proof for activation.

What is the minimum deposit for Pepperstone

The minimum deposit is $0.

What are Pepperstonex Pros & Cons.

  • No Minimum Deposit
  • Decent Customer Services
  • Very customizable charts & tools
  • Fully Regulated
  • Negative balance protection is available

Pepperstone Alternatives

IG
eToro
Plus500
AvaTrade
Fusion Markets