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Pepperstone Review

 

Founded in 2010, Pepperstone is a leading forex and CFD broker that is based in Melbourne, Australia. Pepperstone is a no dealing desk broker that offers its clients ECN trading services. To serve its international clientele, Pepperstone also maintains offices in Dallas, USA, and Shanghai, China. Over the years that Pepperstone has been operational, the broker has won numerous awards for the high-quality services that it has provided to its clients. For example in 2014, Pepperstone was named by BRW Magazine as the fastest growing company in Australia. It also won the 2014 Governor of Victoria Export Awards.

 

Regulations

 

In terms of regulatory oversight, Pepperstone is regulated by the UK’s Financial Conduct Authority (FCA) under the FCA registration number FRN: 684312 in the UK. In Australia, it is regulated by the Australian Securities and Investment Commission (ASIC) under the registration (AFSL #414530). Both regulatory bodies are renowned for their strict enforcement of regulatory requirements as well as vigilance over the players in the financial industry. For clients based in the UK and the European Economic Area (EEA), they fall under the regulatory oversight of the FCA. Their funds are insured with Lloyds of London and are kept in tier 1 banks such as Barclays. For traders in Australia and the rest of the world, their legal interests are looked after by ASIC. Funds are also insured with Lloyds of London and are kept in leading banks in Australia such as the National Australia Bank.

 

Reliability

 

As mentioned earlier, Pepperstone is an award-winning broker. The broker has consistently won major awards and recognition for its high-quality services.  In 2012, Pepperstone was recognized by Forex.com.cn as the Best ECN broker in China. In 2013, it was recognized by BRW Fast Starter and Deloitte as one of the fastest growing brokers in Australia. Nevertheless, the reasons why Pepperstone has been able to win so many awards over the years include good customer service, an abundance of trading tools and excellent trading conditions.

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Trading Platforms

 

For trading platforms, Pepperstone offers a choice of two different types of trading platforms. They include the popular MetaTrader 4 platform and the intuitive cTrader platform.

 

MetaTrader 4 Platform

 

The MetaTrader 4 (MT4) platform is the most widely adopted platform in the industry. It is popular among brokers and traders alike for its reliability and a wide range of trading tools. The MT4 offers traders a secure trading environment with its 128-bit encryption security and real-time data exchange. It also offers a full charting package with time frames. Its key features include support for multiple order types, 85 different types of technical indicators, numerous analytical tools, market watch and automated trading. It has also support for multiple languages.

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cTrader Trading Platform

 

Developed by cTrader Ltd, the cTrader trading platform is a new innovative trading platform that has become the choice of platform for several leading brokers offering ECN trading access. It was initially adopted by FxPro and in recent years adopted by several other brokers such as Admiral Markets and Pepperstone. The cTrader was designed to cater to serve 2 main functions, efficient execution of trades and comprehensive charting. It is easy to operate with its clean user interface and powerful to cater to the needs of even the most demanding traders.

 

Pepperstone Mobile Trading

 

To cater to an increasingly mobile capable population, Pepperstone has also made the MT4 and cTrader trading platforms available as mobile trading apps which can be downloaded from Google Play store and Apple App Store. Both these platforms have been optimized for the small trading screen of the smartphones and are fully capable of supporting many of the advanced trading features found on their desktop counterpart.

 

Trade Types/Instruments

 

For trade types, Pepperstone offers spot forex trading and CFD trading. The forex market is the largest market in the world with more than $3 trillion turnovers per day. Nevertheless, trading activities are focused a few currency major currency pairs such as the EUR/USD and USD/JPY. For CFDs, trading cover several asset classes such as market indices, commodities, precious metals, the energy market and more recently cryptocurrencies.

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Account Types 

 

There are 4 different types of trading accounts provided by Pepperstone, the standard account, the Razor account, the Swap-free account and the Active Traders account.

 

The Standard Account

 

The standard account offers commission-free trading with Pepperstone interbank rates. Spreads with this account start from as low as 1.0 pips. Trade execution is by way of STP with liquidity from 22 different banks. The trading account also comes with negative balance protection and automated risk management.

 

The Razor Account

 

With the Razor account, you can trade with raw spreads with the minimum spreads starting from as low as 0 pips. The commission is fixed at AUD$ 3.5 per 100K units traded. The maximum leverage offered is 500:1. The minimum deposit required to open the Razor account is AUD$200 or its equivalent in other currencies.

 

Swap Free/Islamic Account

 

The Swap-free account caters to traders who wish to trade the markets according to the Islamic Shariah principle of no “RIBA”. Trades are executed based on the STP model with the average spreads on the benchmark EUR/USD at 1 to 1.2 pips. You will also need a minimum deposit of AUD$200 to open this type of account.

 

Active Trader Account

 

For high volume traders, Pepperstone offers the Active Account. The key benefits of this account include the service of a dedicated account manager, advanced reporting, VPS Hosting, and custom solutions.

 

Deposits & Withdrawals Options

 

For funding and withdrawal of funds, Pepperstone has provided several methods of fund transfer. They include major credit cards such as VISA and MasterCard, eWallets such as PayPal, online payment channels such as China Union Pay, POLi, Neteller, QiWI, Broker to Broker, FasaPay and bank wire transfer. While Pepperstone does not any deposit or withdrawal fees, traders are still liable for any charges that are imposed by the banks or credit card companies. The time taken to process a withdrawal request is one business day.

Bonus & Promotions

 

At present, Pepperstone does not offer any kind of bonuses or trading promotions.

Customer Support

 

One of Pepperstone’s strengths is the quality of its customer support. You can access the support service 24 hours a day through email, live chat or by telephone.

 

Pros and Cons

 

Pros

 

Cons

 

Pepperstone Q&A

 

Yes. Pepperstone is regulated by 2 regulatory bodies, the FCA and ASIC.

Pepperstone is based in Melbourne Australia. Its head office is located at Level 5, 530 Collins Street, Melbourne Victoria, Australia.

Pepperstone makes its money by charging its clients a small commission or spreads on the traded executed by its clients.

You can deposit your funds through bank wire, credit cards and major online payment provider,

You can withdraw your funds from Pepperstone though bank wire transfer, credit cards and e-wallets. Normally the method of withdrawals is through the same methods used in depositing the funds.

To open an account with Pepperstone, you need to fill up the registration form and submit it with all the necessary documentation used for verifying your identity.

Yes, Pepperstone is a reliable broker. The broker has won several awards bearing testimonials to its reliability.

Yes, Pepperstone uses the MetaTrader 4 trading platform.

The maximum leverage offered by Pepperstone is 500:1.

No, Pepperstone is not a scam, It is regulated by the FCA and ASIC.

Pepperstone is a safe broker that abide with all the strict regulatory requirements imposed by the FCA and ASIC.

 

Conclusion

 

Overall, we noted in our in-depth review of this broker that it has lived up to its name as a client-oriented broker. The customer support is top notch and is available 24 hours a day. In addition, the spreads offered are quite competitive.

 

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