Pepperstone Review

Pepperstone is a leading Australian based forex and CFDs broker that was founded in 2010. The broker offers quality trading services to all categories of trader in a regulated environment.

Pepperstone review
Overall

Introduction

Pepperstone is one of Australia leading forex and CFD brokers, and was established in 2010. The brokerage firm was founded by two individuals by the name of Owen Kerr and Joe Davenport. Pepperstone’s head office is located in Melbourne, Australia. It also maintains an office in London in order to better serve the needs of its European based clients. Pepperstone is regulated by two of the top tiered regulatory bodies in the world, the Australian Securities & Investment Commission (ASIC) and the UK’s Financial Conduct Authority (FCA).

Pepperstone specializes in offering online trading services for spot forex and CFDs through a selection of advanced trading platforms. The broker draws its appeal from the fact that it is able to meet the differing needs of traders of different skill levels. Apart from being able to serve the needs of various categories of traders, Pepperstone also cater to institutional investors. Despite being only operational for a less than a decade, Pepperstone has been considered as one of the more successful forex brokers in the industry by many key players. This is hardly surprising as it has always been the broker’s aim to leverage technology, superior services and competitive spreads as the primary driver of growth for the company.a

Overall Rating

Products & Fees
4.5
Security
5
Tools
4.5
Desktop Experience
5
Mobile Experience
5
Banking
4
Customer Support
5
Education
4

Pros

  • Multiple Regulatory Oversights

    Pepperstone is regulated by ASIC and the FCA. Both of these regulatory bodies are considered the top tiered regulatory bodies among the developed economies.

  • Good Selection of Advanced Trading platforms

    Pepperstone offers three main types of trading platforms to its traders. Traders at Pepperstone have the choice of the MetaTrader 4, MetaTrader 5 and cTrader trading platform to trade the markets with.

  • 4 Accounts Types

    Pepperstone’s traders have four different types of trading accounts to select from. Each of these types of trading accounts is geared towards traders with different trading requirements.

  • Resources Packed Education Center

    The educational center of Pepperstone is well stocked with more than 60 different trading guides.

Cons

  • No Educational Videos

    Despite the fact that the educational center is well stocked with trading guides, Pepperstone does not offer its clients any educational materials in video format.

  • Limited Coverage of Markets

    The number of financial instruments that are available for trading at Pepperstone is rather limited for a broker of Pepperstone’s stature.

There are many forex providers to choose from, and we realise that today's forex trader has many options. That's exactly why we aim to separate ourselves from the competition in every way we can.

Commissions & Fees

Pepperstone claims that it offer some of the best trading conditions in the online forex trading industry. The broker through its industry networking has been able to offer its clients deep liquidity and raw spreads as low as zero pips on currency pairs. For CFDs, the spreads can be as low as 0.1 pips and one USD dollar per point. The following table shows the minimum and average spreads which traders at Pepperstone can expect from the broker:

Currency Pair

Razor Account

Standard Account

Minimum Spread

Average Spread

Minimum Spread

Average Spread

AUDCAD

0.2

0.97

1.2

1.97

AUDCHF

0.2

0.9

1.2

1.9

AUDJPY

0

0.46

1

1.46

AUDNZD

0

0.92

1

1.92

AUDSGD

1.6

2.9

2.6

3.9

AUDUSD

0

0.27

1

1.27

CADCHF

0.5

1.23

1.5

2.23

CADJPY

0.1

0.67

1.1

1.67

CHFJPY

0.2

1.23

1.2

2.23

CHFSGD

0.9

2.68

1.9

3.68

EURAUD

0

0.39

1

1.39

EURCAD

0

0.96

1

1.96

EURCHF

0

0.69

1

1.69

EURCZK

1

5.4

2

6.4

EURGBP

0

0.36

1

1.36

EURHUF

0.4

1.01

1.4

2.01

EURJPY

0

0.41

1

1.41

EURNOK

1.4

12.94

2.4

13.94

EURNZD

0.6

1.96

1.6

2.96

EURPLN

5

18.48

6

19.48

EURSEK

8

21.74

9

22.74

EURSGD

1

2.32

2

3.32

EURTRY

1

12.33

2

13.33

EURUSD

0

0.16

1

1.16

EURZAR

10

85.57

11

86.57

GBPAUD

0.8

2.07

1.8

3.07

GBPCAD

0.6

1.87

1.6

2.87

GBPCHF

0.8

1.48

1.8

2.48

GBPJPY

0.4

1.23

1.4

2.23

GBPNOK

15

42.21

16

43.21

GBPNZD

1.2

4.69

2.2

5.69

GBPSEK

1.2

33.26

2.2

34.26

GBPSGD

1.2

3.28

2.2

4.28

GBPTRY

1

21.94

2

22.94

GBPUSD

0.1

0.49

1.1

1.49

NOKJPY

1

1.18

2

2.18

NOKSEK

5

5.77

6

6.77

NZDCAD

1.2

2.33

2.2

3.33

NZDCHF

0.5

1.61

1.5

2.61

NZDJPY

0.3

1.18

1.3

2.18

NZDUSD

0.2

0.53

1.2

1.53

SEKJPY

5

5

6

6

SGDJPY

1

1.23

2

2.23

USDCAD

0

0.47

1

1.47

USDCHF

0

0.64

1

1.64

USDCNH

5

6.03

6

7.03

USDCZK

3

4.88

4

5.88

USDHUF

0.4

1.05

1.4

2.05

USDJPY

0

0.25

1

1.25

USDMXN

4

2.38

5

3.38

USDNOK

1

14.57

2

15.57

USDPLN

5

1.32

6

2.32

USDRUB

10

99.7

11

100.7

USDSEK

5

13.24

6

14.24

USDSGD

1

1.08

2

2.08

USDTHB

1

7.57

2

8.57

USDTRY

1

9.47

2

10.47

USDZAR

10

56.26

11

57.26

ZARJPY

1

1.23

2

2.23

 

For CFDs trading, below are the commission charges for traders trading on the MetaTrader platforms:

Account Base Currency

Commission per 0.01 LOTS

AUD    

AUD 0.035

CAD    

CAD 0.035

CHF    

CHF 0.033

EUR    

EUR 0.025

GBP    

GBP 0.02

HKD    

HKD 0.28

JPY      

JPY 3

NZD    

NZD 0.04

SGD    

SGD 0.045

USD    

USD 0.037

* The figures in the tables above are taken directly from Pepperstone’s website at the time of  writing this review.

Commissions & Fees
Stock
Forex Spreads
CFDs
Futures
Metals
Cryptocurrency
 
Pepperstone
From 0.4 pips
From 0.0 pips + $3.50 commission
From 0.3 pips
From 0.3 pips
From 0.5 pips
no commissions
XTB
From 0.3 pips
From 0.1 pips
0.08% minimum $8.00 USD
N/A
From 0.3 pips
Spreads vary
More XTB fees
AvaTrade
Average 0.13%
From 1.3 pips
From 0.13%
N/A
From 0.4pips
0.75% to 1.5% Over Market
Vantage FX
N/A
From 0.0 pips + $3 commission per 1 lot
N/A
N/A
From 0.23 pips
N/A
UFX
From 130
From 2
From 50
N/A
From 50
From 33000
More UFX fees
AroTrade
N/A
Fixed at 3 pips
$20 per month + profit clearance fee
N/A
N/A
N/A

Platform & Tools

Pepperstone has on offer 3 main types of trading platforms for its traders to choose from, the MetaTrader 4 (MT4), the MetaTrader 5 (MT5) and the cTrader platforms.

pepperstone tools

MetaTrader 4 Platform

The MT4 trading platform is considered to be the most popular forex trading platform in the industry. The platform supports enhanced charts, advanced tools, expert advisors and MQL scripting. These advanced features make the trading platform suitable not just for beginner traders but also advanced traders. Other key features of the MT4 platform include the following:

  • 80+ built in Technical indicators
  • Ability to support various order types
  • Customizable user interface in different languages
  • Live news feeds
  • Multiple timeframes for the charts

MetaTrader 5 Platform

The MT5 platform is built on the success of its predecessor, the MT4 platform. It comes with updated trading abilities such as faster trade processing times and gives its user the ability to hedge their trading positions. In short, the MT5 comes with more trading tools to take traders to the next level. Some of the main features of the MT5 platform include:

  • Built in Economic Calendar
  • Large array of technical indicators
  • Support 21 different time frames
  • Support 3rd party tools such as Autochartist and Smart Trader Tools

Both the MT4 and MT5 are available in various versions. The MT4 client software is avialabe for both windows and Mac based computer. It also comes as a WebTrader where traders can just access the platform directly using just a web browser. As for the MT5 platform, it is currently only available for Windows based computers.

In addition to the MetaTrader platforms, Pepperstone has also made available the cTrader. This is a relatively new platform that has started to gain popularity among traders. The platform is highly customizable and is extremely user friendly. It also has an advanced management feature to help traders manage their positions more efficiently. Like the MT4 platform, the cTrader is also available as a WebTrader. What the cTrader has to offer include the following features:

  • Back Testing Ability
  • Level II Prices
  • Separable Charts
  • Support for Automated Trading
Platform & Tools
Desktop Platform (Windows)
Desktop Platform (MacOS)
Web Platform
MT4
MT5
Research & Analysis
Social trading
Education
Demo account
 
Pepperstone
XTB
Read XTB review
AvaTrade
Vantage FX
UFX
Read UFX review
AroTrade

Mobile App

For traders wanting to trade the markets with their smartphones, Pepperstome has provided them with the MT4 and cTrader mobile trading apps. The apps for these platforms can be downloaded from Google PlayStore and Apple App Store.

Account Types

Pepperstone offer a choice of 4 different types of trading accounts. These accounts consist of the following:

Pepperstone Standard Account

  • Competitive liquidity
  • Interbank spreads from 1.0 pips
  • No Commission
  • No minimum deposit requirement

Pepperstone Razor Account

  • Deep Interbank Liquidity
  • EAs Allowed
  • Hedging Allowed
  • Leverage available up to 500:1
  • Min Account Opening Balance $200 AUD or equivalent
  • Raw Spread
  • Scalping Allowed

Pepperstone Swap-Free Account

  • EAs Allowed
  • Hedging Allowed
  • Interest free
  • Min Account Opening Balance $200USD or equivalent
  • Scalping Allowed

Pepperstone Active Traders Account

  • Advanced Insights and Reports
  • Cash rebates
  • Priority Client Support
  • Qantas Frequent Flyer Program
  • VPS Hosting

Deposits & Withdrawals

Funding methods at Pepperstone comprises of:

  • Bank Wire
  • Bpay
  • Credit/Debit cards
  • Fasapay
  • Local Bank Deposit
  • Neteller
  • PayPal
  • POLI
  • Skrill
  • Union Pay

pepperstone withdrawal

Withdrawal requests that are submitted by traders before 21:00 GMT are processed within the same business day. Funds are usually transferred back to the trader using the same method that was initially used to make a deposit. For bank wire transfer, the process normally takes 3 to 5 business days to complete. Take note that Pepperstone charges a fee of $20 for bank withdrawals. In addition, payment processors such as Paypal and Skrill also charge a fee when you make a withdrawal through them.

Deposits & Withdrawals
Minimum deposit
Withdrawal Time
Withdrawal Fee
Pepperstone
$0
3 - 5 business days
Free
XTB
$250
N/A
Free
AvaTrade
$100
1 - 2 business days
Free
Vantage FX
$200
3 - 10 business days
Free
UFX
$100
Up to 10 business days
Free
AroTrade
$250
3 - 4 business days
$50 - $100

Customer Support

Customer support services at Pepperstone are through email, fax, live chat and the telephone. The good news is the phone support service is available on a 24 hours basis throughout the entire trading week. Traders in cities such as Bangkok, Dallas, Melbourne and London have the added benefit of having localized support since the broker maintains a representative office in those cities.

Security & Fairness

Given the fact that Pepperstone is regulated by ASIC and the FCA, Pepperstone’s clients can be assured that they are dealing with a legitimate broker. It has been almost a decade since Pepperstone first began operations. During those periods, the broker has proven its ability to look after the interest of its clients. A good example is the way the broker handled the situation when the Swiss Franc was unpegged from the euro in 2015. Massive losses were avoided by the quick action of the broker. The bottom line is the fact that Pepperstone is a reliable and reputable broker. It offers its traders quality services in a secured environment for its traders.

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