Pepperstone generally makes money through the spreads offered. There are minimal added fees in place, and most user accounts are the standard ones.
Pepperstone is a top-tier CFD broker that has a lot to offer traders of all skill and experience levels. It is tightly regulated across a number of jurisdictions, offering excellent customer service, and it has an open, transparent pricing structure.
Beyond these benefits, the trading conditions are generally good and compete with the best trading platforms out there. This more than makes up for the fact that the selection of instruments on offer isn’t quite as extensive as we have seen elsewhere.
Nevertheless, when you combine this with the learning materials, market updates and analysis, and the various trading tools on offer, Pepperstone is an easy recommendation!
|Withdrawal fee amount:||None|
|Inactivity fee charged (Y/N):||N|
|Spread from:||Variable across asset classes|
|Number of instruments:||1,500+|
|Time to open account:||1-2 business days|
|Demo account provided (Y/N):||Y|
|Countries of regulation:||Australia, Bahamas, UK, Dubai, Cyprus, Germany|
|Products offered:||CFDs on forex, indices, shares, cryptocurrency|
Our Pepperstone Broker Review tests all aspects of Pepperstone offering, from platform to customer service. We will give you the info you need to decide if Pepperstone is a suitable broker for your purposes.
Pepperstone is an Australian broker with an agile approach and global reach. Founded in 2010 by a group of traders, its stated aim is to make the trading experience just what a trader would want it to be. They focus on offering trading that is cost-effective, fast and convenient.
Clients now also benefit from the firm’s London office, established in 2015. They are offered the choice of three top of the range platforms through which to trade. The cTrader platform has a user-friendly functionality that appeals to both new and experienced traders. In line with the broker’s reputation in the forex markets, they also offer the ‘go to’ forex execution platforms, Meta Trader’s MT4 and MT5. They are the most popular retail trading platforms globally and are something of an industry standard. Both score top marks with trading community members looking to hook up their own systematic models to the market.
Pepperstone offers traders a range of account types, CFD and Spread Bet trading and a social trading platform. That means clients can cherry-pick different aspects of the Pepperstone offering. The agile functionality is supported by a top-grade operational and regulatory framework designed to give clients a degree of confidence that their funds are secure. While the financial markets, in general, have been subject to fraud and illegal behaviour, Pepperstone has tried hard to address this issue and has gained a reputation for fairness and reliability.
Pepperstone has the feel of being built by traders, for traders. As a result, it continues to build a significant, if somewhat niche, following in the trading community. Appreciation for the service offered extends to industry awards. In 2021, Pepperstone won the InvestinGoal Awards – Best Global Broker trophy and International Business Magazine – Best Forex Broker Middle East.
The firm is a balance of agility and strength. On the one hand, there is a strong emphasis on meeting customer needs and providing innovative software tools that help its clients trade the markets. On the other, the firm is regulated by the FCA in the UK and ASIC in Australia.
The pricing offered by Pepperstone is generally good. It uses multiple liquidity providers from Tier 1 banks and financial institutions, which allows it to provide competitive pricing across a wide range of financial instruments. This is equally true of both its trading and non-trading fees.
Pepperstone offers competitive pricing and fee structures across all the financial instruments it provides trading services for. Pepperstone forex trading easily competes with the industry average for a broker of its size. Pepperstone is very transparent about its pricing structure, and you do not have to create an account to get access to this detailed information.
In general, the pricing offered on Pepperstone forex trading is pretty competitive. Commissions are only charged on Razor accounts when trading CFDs on forex and shares, with Pepperstone generating the bulk of its revenue through the spreads. If you do have a Razor account, the fees for forex CFDs will vary across the different currencies, though you can expect to pay between 0.08 and 0.05 for a round-turn trade.
The forex spreads are similarly competitive, though this will obviously vary depending on the account type you have. The spread on EUR/USD on the Standard account, for example, would set you back around 0.77, while this would cost 0.17 on a Razor account.
Edge Active Traders can apply to upgrade to institutional-grade terms and conditions in terms of pricing and market flow.
Having access to liquidity from Tier 1 banks has helped Pepperstone keep its trading fees competitive and low.
Pepperstone’s pricing on the indices is similarly competitive, though it is certainly more competitive on the most popular indices. For example, the Australian 200 Index will have an average spread of around 1, while the US 500 Index will run at 0.4.
Pepperstone offers a wide range of commodities, including gold, silver, crude, Brent and natural gas. The spreads are quite competitive across all these, with the minimum spread for spot gold, for example, being 0.05 against an average spread of 0.13.
The crypto spreads on offer at Pepperstone are certainly not as competitive as some of the cryptocurrency-focused brokers out there. However, you can expect to see a minimum spread of 17.00 on BTC/USD, as against a 30.50 average spread.
For shares, Pepperstone charges commissions as a percentage of the trade price, which can run you anything from between 0.0% (AU Share CFDs) to 0.20% (Hong Kong Share CFDs). These are about what we would expect to see from a broker of Pepperstone’s size!
When it comes to the other trading-related fees you might incur, transparency and fairness are once again the order of the day!
For example, Pepperstone charges about the industry average for its rollover swap rates, which will vary across the different asset classes it supports.
When you are using a broker, in addition to being aware of the trading fees and commissions you might get charged, you should also pay close attention to the non-trading fees. These can add up to a surprising amount – particularly if you are a high-volume trader or let your account go inactive!
Pepperstone is generally competitive when it comes to non-trading fees. It does not charge an inactivity fee or standardized account fees. Withdrawals are free for most payment methods, including credit cards, debit cards and most e-wallets.
While Pepperstone might not offer clients a whole range of ancillary services, what is provided is of high quality. Our Pepperstone broker review found that traders looking for institution-grade access into the forex markets should have Pepperstone on their list of brokers to try.
What do you think of our Pepperstone review so far? Please leave your feedback at the bottom of the review with any of your own Pepperstone experiences that may help other traders make an informed choice.
Pepperstone forex offers a number of different account types to suit the different types of traders it caters for. However, while some online brokerages offer a relatively wide range of account types, Pepperstone focuses on providing just two account types: Standard and Razor.
Pepperstone forex trading provides users with access to two different account types: Standard and Razor.
The Standard account is the account type that will suit the vast majority of traders and focuses on providing commission-free trading with relatively competitive spreads. The Razor account is aimed primarily at professional or day traders.
The Razor account charges commissions on any trading orders you place – these are relatively low compared with industry averages. This is balanced against considerably lower spreads. High-volume traders, particularly scalpers and algorithmic traders, might prefer the lower costs associated with the Razor account.
To get started, simply head over to the homepage, and click the ‘Join Now’ button. This will initiate the account creation process, which shouldn’t take more than a few minutes. You will have to enter all the standard personal details, including your name, date of birth, home address, and some basic tax information. This process is efficient, though the KYC and AML verification processes will add a bit of time, as will the identity verification process.
Pepperstone offers its users a good selection of payment methods with fast processing times and no fees on deposits.
Once you have set up your account with Pepperstone, you will have to fund your account. Funding is all done via a secured, dedicated payment area.
The accepted payment methods are Visa, Mastercard, POLi, Bank Transfer, BPay, PayPal, Neteller, Skrill and Union Pay.
Deposits and withdrawals are mostly fee-free, though certain types of international transfers, credit card transfers, and eWallet transfers may be subject to standard third-party fees.
All deposits are fee-free and will be processed quickly by Pepperstone – typically within hours of receipt. Deposits are made via the secure client area, with a range of different funding options available to use.
As with deposits, withdrawals from your trading account are fee-free. However, the processing time for withdrawals is slightly longer. Typically, withdrawal requests will be processed within hours of receipt, though this might take longer depending on when in the day the request was made.
Pepperstone has a range of trading tools available for its users, including MT4 and MT5 platforms.
When it comes time to make trades using your Pepperstone forex trading account, there are several platforms and tools at your disposal.
Trading is primarily done via the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These are pretty much the industry standard when it comes to trading platforms.
However, users have other options available to them, including cTrader, which comes in both mobile and desktop versions and looks to provide home traders with the same technical resources that institutional traders would have access to.
Some of the other tools on offer include TradingView, Capitalise.ai, and various social trading features.
Overall, we were impressed by the selection of tools and trading platforms on offer.
Additionally, there are plenty of added tools on offer that enhances the trading experience. We were particularly impressed by the inclusion of cTrader, which puts a powerful set of trading tools at your disposal.
Unlike some other platforms, Pepperstone does not provide access to a proprietary web trading platform. However, both the MT4 and MT5 platforms come with web trading functionality built in, so this won’t be too much of an issue for most traders!
Although Pepperstone does not have its own dedicated app, you receive the same functionality as the web-based version.
If you are one of the many traders who like to take their trades on the go with them, Pepperstone is a pretty solid option. Although it doesn’t provide access to any native or proprietary mobile trading apps, your Pepperstone membership does come with some decent mobile options.
This includes mobile versions of both the MT4 and MT5 apps, as well as Android and iOS versions of the cTrader trading platform.
If you are looking for a CFD-focused broker that provides excellent market coverage across a wide range of different asset classes, then Pepperstone could be just the broker you are looking for! In all, Pepperstone offers just over 1,500 different CFD types.
Pepperstone allows you to gain exposure to a wide range of Australian, US, UK, and German shares through the CFD markets. You can trade with leverage and competitive pricing.
There are over 600 US shares, 100 UK equities, and 200 Australian shares, as well as a decent selection of ETFs. The selection on offer is generally excellent, though it is primarily focused on the US stock markets.
Trading forex CFDs is a breeze with Pepperstone forex trading, which provides deep liquidity and access to over 60 currency pairs. The focus is primarily on the major currency pairs with a smattering of minors.
Pepperstone has partnered with a range of different social trading platforms to bring some automation to your trading strategies.
This includes Myfxbook, MetaTrader Signals and DupliTrade. Although each of these tools works slightly differently, the basic functionality is largely the same. They allow you to copy the trades of the leading traders without the need to run dedicated software!
With your Pepperstone account, you will be able to access indices CFDs from across North America, APAC and Africa, and the UK and Europe.
Pepperstone does not provide direct access to the buying and selling of cryptocurrencies. Instead, you can buy and sell CFDs on cryptocurrencies without the need to set up a dedicated crypto digital wallet!
The range of cryptocurrency CFDs available is fairly extensive and should satisfy the needs of most traders looking to try out crypto CFDs for the first time.
In addition to various trading tools, Pepperstone provides all users with access to high-quality market research resources. This includes a dedicated market analysis section of the website with daily market news, an economic calendar, and a quick news bulletin-style market update service.
Pepperstone has a dedicated team of analysts ready to give you all of the latest on the current state of the markets.
In addition to the stock charting tools that come with MT4 and MT5, Pepperstone also provides you with a number of powerful charting and analysis tools. Most notably, this includes TradingView, which is one of the most popular charting tools on the market.
Pepperstone provides access to a daily news service as part of your membership. It covers a range of different countries and regions and gives quick, bite-size updates on the latest market movements without skimping on the analysis.
We found the award-winning customer service at Pepperstone to be very knowledgeable and responsive.
As a trading platform that has previously won awards for its customer service, we had big expectations for how it would perform.
The customer service staff are on hand 24/5 and are generally very responsive within these hours. We were also really impressed by the extensive FAQ section, which was surprisingly well-written.
Beginner traders at Pepperstone have access to a dedicated education section which will prepare them for their trading journey.
Pepperstone has put together a solid selection of learning and education resources geared towards beginner traders.
There is a dedicated education section on the Pepperstone website. This provides access to trading guides, basic explainers, and an extensive library of training webinars.
While these are more suited to novice traders, the market analysis section will be useful for advanced traders. We were particularly impressed by the quality of the market news delivered daily.
As a broker, Pepperstone is tightly regulated so its users can rest assured that any transactions are above-board and secure.
It is important to only ever use a broker that has a legitimate licence from a regulatory authority, keeps client investment funds in segregated accounts, and abides by all the relevant local laws.
Providing trading services to an international client base, Pepperstone is regulated in a number of different jurisdictions. This includes having received licences from ASIC, SCB, FCA, DFSA, CMA, BaFin and CySEC.
Pepperstone is a tightly regulated broker that provides high levels of customer protection. In addition to being regulated in a number of different jurisdictions, it also segregates all client funds in Tier 1 banks.
Pepperstone provides a high level of customer and investment protection and more than meets the industry standard.
Having read this in-depth review of Pepperstone, you might have found yourself asking the question, is Pepperstone right for me?
If you are looking for a CFD-focused broker with solid market coverage, competitive pricing, excellent trading conditions, and a suite of advanced trading tools and features at your disposal, then trading with Pepperstone is an easy choice to make.
However, there are some areas for improvement. Most notably, the number of forex currency pairs on offer is not particularly extensive, and the cryptocurrency support is not the best. Also, Pepperstone does not necessarily have the most competitive pricing.
Despite this, Pepperstone has put together a really solid trading platform that is well-stocked with markets, competitively priced, and packed full of features!
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Pepperstone generally makes money through the spreads offered. There are minimal added fees in place, and most user accounts are the standard ones.
Pepperstone is a highly regulated broker with licences from a number of leading authorities, including ASIC, SCB, FCA, DFSA, CMA, BaFin and CySEC.
Pepperstone does not currently have any bonuses in place.
Pepperstone is generally a good platform for beginners. However, CFDs are not necessarily suited to beginner traders due to the higher level of risk involved.
If Pepperstone goes down, we would recommend getting in contact with the customer support team immediately!
How you set up trades to execute will depend on the trading platform you have chosen to use!
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