Pepperstone Review 2020 and Technical Opinions
Did you search Pepperstone review to figure out Pepperstone’s real value?
Would you like to fully understand if Pepperstone is reliable or if it’s a scam?
Do you want to find out everything you can do with this broker, expert opinions, and user opinions?
In this Pepperstone review you’ll find everything you need to dispel any doubt, including our opinions, both practical and technical, after years of experience on the platform.
The best thing you could is to open a free demo account to try out first-hand the Pepperstone platforms, to be able to fully follow this report.
- Pepperstone Review: Legal forex broker? Company Information
- Is Pepperstone a scam or reliable? Review and legal opinions
- Pepperstone Accounts Review
- Pepperstone Account Opening: Deposits and Withdrawals
- Pepperstone Accounts Types
- Pepperstone Trading Review: Markets, Costs and Features
- Pepperstone Leverage, Spreads and Fees
- Pepperstone Trading Platforms Review
- Pepperstone Desktop Platforms
- Pepperstone Web Platforms
- Pepperstone Mobile Platforms
- Social-Copy Trading on Pepperstone
- Pepperstone Support, Research, Educational Material
- Final thoughts and opinions on Pepperstone
- Pepperstone Pros and Cons
Pepperstone Review: Legal forex broker? Company Information
The foundations of any trading platform or forex broker are a vital element of success. This Pepperstone review is no different.
We will delve deeper than any other report out there to ensure that you have the most honest audit of Pepperstone to be found anywhere on the marketplace.
Is Pepperstone a scam or reliable? Review and legal opinions
From the outset, it is very important for us to establish that Pepperstone is in absolutely no way a scam.
This will be made clear throughout the course of our extensive report. As with any product or service, certain users may have their own experiences. This can often have some influence on opinions and a Pepperstone user review will be no different. Through this piece though you can be assured of a non-biased and objective review.
Pepperstone was founded in 2010 and has since gone on to become one of the most popular and trustworthy brokers in the sector. There are multiple testaments to this in terms of awards which the company has won through the years and in 2013 they also assisted an ASIC and AFP investigation which helped to uncover one of the largest insider trading cases in Australian history.
These facts alone can speak positively as to the strong moral compass and core values within the organization.
When I make a deposit on Pepperstone, where does my money go?
Due to its thorough regulatory compliance, Pepperstone is akin to any other major broker in terms of where your deposited funds end up.
They will be placed in a secure segregated account which is held and managed by a top-tier banking institution and which can in no way be tampered with by Pepperstone or any of their affiliates.
These types of checks and balances are commonplace among all of the most trustworthy brokers and help protect both the company and the clients. This is a feature which should not differ very much regardless of which trading platform review you are viewing.
Is Pepperstone regulated? Pepperstone Regulations Check
Yes, Pepperstone is fully regulated.
This regulation is broad ranging and fully compliant with all the steps we would expect of a top tier trading broker. Pepperstone regulated in both the UK and Australia by two of the most stringent enforcement bodies in the financial world.
In the United Kingdom, Pepperstone is regulated by the Financial Conduct Authority (FCA) and the company is regulated in Australia by the Australian Securities and Investment Commission (ASIC). These are two of the most well respected regulatory bodies in the global financial world and both demand extensive controls and have an extremely high degree of transparency which only adds further to the trust score of Pepperstone.
In terms of the United Kingdom, FCA regulations provide wide-ranging protection for customers with funds being insured by Lloyds of London and being housed in top tier banking institutions. This protection also extends to members of other EEA nations.
On the Australian end for Australian and Rest of the World customers, insurance of funds is also provided by Lloyds and housed in top tier Australian Banks. Pepperstone review processes would be routinely carried out by these regulatory bodies as with other trading platforms to ensure the highest degrees of compliance within the organizations.
How to verify the Pepperstone licenses
Here we have prepared all of the relevant information on how you can search and confirm the business licenses and registrations held by both Australian and UK financial regulators in regards to Pepperstone.
Just click on the secure links to be directed to the relevant information.
- ASIC License
- Australian Company Registration (ABN)
- UK Financial Conduct Authority (FCA)
- UK Company Registration
Pepperstone Technical Review: What type of broker is Pepperstone?
Pepperstone is a Straight-Through Processing/no-dealing desk type of broker.
Ultimately this should culminate in a positive for Pepperstone user reviews since it allows for traders to achieve the maximum levels of liquidity from the market without paying high commissions on trading with Pepperstone as could be the case with some other brokerage models.
Through this analysis of Pepperstone, we have noted that the company make a conscious effort to provide the best possible spread for traders and reduce the commissions which they take from these spreads to an absolute minimum. This can be another positive note in the eyes of traders which is facilitated thanks to the size of the company.
These efforts no doubt played a role in the company’s award-winning growth. They were actually recognized in 2014 by BRW Magazine as the fastest growing company in Australia among other accolades.
How does Pepperstone profit?
Whilst making a strong effort to limit the amount of commission traders pay, Pepperstone still needs to make money.
Thus, they do so by charging a small commission on some trades and operating marginal spreads of usually between 1-1.6 pips on the market prices traded.
Who owns Pepperstone?
Pepperstone was founded in 2010 by Owen Kerr and Joe Davenport and is currently operated through the Pepperstone Group which is a private company headed up by the recently appointed (2017) group CEO Tamas Szabo.
Where is the legal office of Pepperstone?
Pepperstone have legally registered offices in both Australia and the UK which control their global operations. The offices are located as follows:
Level 5, 530 Collins Street
United Kingdom (EEA)
68 Hanbury Street,
Each of these locations are registered on the official company filings and as pursuant to the requirements of local regulators. You can access more information on these by clicking the link in the above section related to licensing.
- Regulations: Pepperstone Limited authorised & regulated by the FCA (684312); Pepperstone Group Limited registered with ASIC (414530).
- Type: ECN, Market Maker
- Leverage: 500:1 ASIC; 30:1 FCA
- Minimum Deposit: $ 200
- Platforms: MT4 (desktop, iPhone/iPad, Android), MT5 (desktop), cTrader (web platform, cAlgo, cTrader mobile)
- Headquarters: Pepperstone Group Limited is headquartered in Melbourne, Australia
- US Customers: No
- Other instruments: CFDs on indices, commodities, cryptocurrency
Pepperstone Accounts Review
As has been noted from the outset of our Pepperstone review, they have quickly established as one of the world largest forex and CFD brokers since their foundation in 2010. With this size and level of growth comes an extensive range of capabilities for both retail and institutional investors in these areas.
Pepperstone facilitates trading across an array of markets through the medium of multiple account types depending on your trading requirements.
Pepperstone Account Opening: Deposits and Withdrawals
Through conducting this extensive Pepperstone broker audit, a positive element which has become apparent more than others is the flexibility the company has when it comes to deposits and withdrawals.
Pepperstone facilitates users to deposit in a number of base currencies and through a wide assortment of mediums. Deposit options include the following:
- Visa & Mastercard using credit or debit.
- China Union Pay
All of the above options are available for instant deposits whilst the following list of options are also available but deposit time will vary between hours and a few days.
- Broker to Broker
- Bank Transfer (Domestic and International)
In the case of withdrawals, the company does its best to ensure the fast processing of withdrawals such that requests received by 9pm GMT will be processed that day. Any request after this time will be processed the following day.
Pepperstone does not charge any fees for withdrawal of funds although your financial institution may have their own charter of fees for such transactions.
Pepperstone minimum deposit
A minimum deposit amount of $200 is required to get started with the broker.
Pepperstone Bonus and Offers
Due to regulatory requirements, the platform does not offer and bonuses.
Pepperstone Accounts Types
As part of any broker analysis, it is necessary to note the various account types and benefits they can offer to potential traders. This Pepperstone review is no different (for a more in-depth look, you can check our Pepperstone account types guide).
They offer a wide variety of accounts to choose from, each with their own positive attributes depending on your trading parameters.
Pepperstone demo: how to open a free virtual account
Starting from right here you can open your free virtual demo account with Pepperstone. This will enable you to trade in as real an environment as a professional trader experiences, with $50,000 in virtual trading funds at your disposal.
You can operate your free virtual account for a period of 30 days.
Pepperstone Live: how to open a Live Pepperstone account
Your live Pepperstone account can be open and ready to trade literally within minutes after following this registration link.
From this point, the company require basic sign-up information which they estimate to take around six-minutes and which can be completed within four easy steps.
The Pepperstone standard account offers commission free trading to users with access to Pepperstone interbank rates. With the standard account, spreads begin from as little as 1 pip.
The account comes with liquidity from as many as 22 banks through STP processing. From the users’ perspective, another positive attribute of this account is the negative balance protection which it offers.
The account also features a multitude of deposit methods which we have outlined in the deposit and withdrawal review.
This is a good account option for the new or lower volume trader.
The next account level is the Pepperstone Razor. This account allows access to raw interbank direct pricing with a very low spread which actually starts from 0 pips. The commission on the account trades through a razor account are $3.50 per 100,000 units traded.
Leverage allowed on this account reaches a maximum of 500:1 and there is a minimum deposit requirement of $200. Traders are also allowed to engage in hedging, scalping, and EAs are allowed using the Razor account.
MT4, Pepperstones own cTrader, Webtrader and mobile trading are all supported when a user opens a Pepperstone Razor account.
Swap Free – Islamic Account
The Pepperstone swap free account is one which is operated in accordance with Islamic Shariah principles, accommodating users who cannot receive or pay swaps.
The account is interest free and features many of the same benefits as other Pepperstone account types in regard to STP, trading platforms and with $0 commission on trades and an average spread of 1-1.2 pips.
The Pepperstone swap-free account features a $200 minimum deposit amount and a variable admin fee will be charged to trades on the account which are held for more than 2 days.
Active Trader Program
Pepperstone also have in place an active trader program. This entitles high volume traders who hold a Razor account to benefit from a number of additional features and bonuses correspondent to their trading behaviors.
Key additional services include VPS hosting, advanced reporting, and a dedicated account manager. Then, there are the discounts and rebates.
Members of the active trading program can save as much as 43% on commissions. Rebates are based on the volume of lots traded and vary in cash value from $200 to in excess of $14,000. Pepperstone internal revisions ensure that these totals are monitored and rebate amounts are paid directly to the trader on a daily basis to allow for immediate use.
As a premium level client you will benefit from a number of additional bespoke services on top of the other benefits provided to Pepperstone account holders. These include priority support, invitation to premium events, advanced market insights and premium level negotiable rebates.
To qualify as a premium level client, your trade volumes must be in excess of $15m per month.
What type of trader are you?
76.5% of retail CFD accounts lose money
76.5% of retail CFD accounts lose money
Pepperstone Trading Review: Markets, Costs and Features
In this segment of our analysis we will go beneath the surface of the brokers trading features.
This will mean an extensive check and analysis of the various markets, assets and features which the broker offers to ensure traders the best possible user experience.
Here we will also detail the vast range of markets which are available to Pepperstone traders and the array of professional and insightful tools which the company offers to assist in the trading success of its users.
Pepperstone Markets and Trading Instruments
When it comes to markets and trading instruments, Pepperstone offers a wide range of forex trading options based around several major currencies. The broker offers in excess of 70 currency pairs, many with commission free trading, a spread starting from 0 pips and an available leverage of 500:1.
In the CFD trading markets, the company offers no less than 14 major global stock indexes and covering other asset classes such as precious metals, energy, commodities, and cryptocurrencies.
Pepperstone offers CFD trading on a range of the most popular cryptocurrencies. These include Bitcoin, Bitcoin Cash, Litecoin, Dash, and Ethereum.
Leverage in these markets is available up to 5:1 with no commission fees, and the ability to hedge on a single account.
Pepperstone Leverage, Spreads and Fees
Pepperstone engages in a largely commission free model, although there are some commissions based on trade and account types, the bulk of the fees from the user side come from the spread which Pepperstone offers.
The bulk of the broker’s spreads are quite minimal ranging between a 1-1.7 pips depending on pairings and markets. The highest spreads the company offers are on GBP/CHF (2.48), Cotton (16.76) and UK100 outside market hours (1.88).
Market trading hours are variable depending on the markets themselves, however many of the markets which we have noted for the purposes of this Pepperstone review operate on a practically 24 hour basis during week days. A full schedule of trading hours can be found by clicking here.
Pepperstone Leverage and ESMA
Pepperstone offers a leverage of up to 500:1 for professional clients who open a razor account and a leverage of up to 30:1 for retail clients who do the same.
ESMA regulations took effect from August 1st 2018 and serve to limit the amount of leverage brokers can offer to retail clients. This has already been implemented by the platform in compliance with the regulations and is noted in the revised leverage figures above.
Pepperstone Trading Platforms Review
Pepperstone offers one of the widest ranges of trading platforms in the sector.
Users have the ability to choose from a total of 11 trading platforms. These include Metatrader 4 and 5, a variety of mobile platforms and the increasing popular cTrader.
Pepperstone Desktop Platforms
Pepperstone offers three major desktop platforms. All of these are both well recognized and respected within the forex trading industry.
MT4 is well-known across the industry as a top choice for many professional traders and is offered as a platform option by Pepperstone. The platform features more than 85 pre-installed professional indicators, an extremely user-friendly interface, and the ability to chart within multiple windows whilst watching a variety of markets.
Automated trading and order execution is also well catered for by this industry leading platform.
Metatrader 4 is the latest release from the MetaQuotes Company, expanding upon the hugely successful and still widely respected MT4. The new release is both more powerful, and more precise than previously, with optimized processing speeds, more advanced order controls, and a built-in economic calendar.
MT5 has 38 inbuilt indicators and can display up to 21 different timeframes across an interface which has not lost any of its user-friendly feel. The platform also provides ability to hedge your positions as well as advanced pending orders control.
cTrader is another third-party platform which is offered to Pepperstone users by the firm Spotware. Again, it is well-respected in the industry with its user-interface having been designed by like-minded traders.
Besides its ease of use, cTrader also offers level II pricing and enhanced charting capabilities which are detachable from the main platform window. This allows for a more efficient management of orders in the fast-paced trading environment.
Automated trading is also well catered for through the cTrader platform.
Pepperstone Web Platforms
Pepperstone also offers various mobile based trading platforms.
You can now trade intuitively from your Apple or Android based smartphone or tablet. No matter you location, these platform will empower you to access advanced charting and trading tools as well as live quotes and the ability to carry out trades on the move.
No analysis would be complete without a Pepperstone cTrader review.
The platform is innovative in the sector and especially popular among brokers who offer ECN trading access to their clients as Pepperstone does. Developed by Spotware, the platform is gaining a largely positive reputation for its efficient execution of trades and comprehensive charting and range of tools provided to traders.
cTrader is a well-supported third-party trading platform which functions very well when it comes to basic web-based trading. The available functions include the ability to place all basic orders such as market, limit, stop-loss, stop limit, trailing stop orders. This combines with an intuitive design and user-friendliness incorporating an ability to customize multiple settings and views within the platform. Alerts are also easy to set up within the cTrader platform so you never have to miss a move.
If you wish to engage in web-based algorithmic trading, cTrader will also require the cAlgo platform to be downloaded and run in parallel.
MT4 Web is also offered by Pepperstone.
This is a lighter version of the desktop platform which is optimized for web-based trading and still provides a full-range of charts and analytics such as you would find on the desktop based version.
Whilst still offering a wide array of indicators and drawing tools, MT4 web does not cater for automated trading strategies. These must be operated from the desktop version.
Pepperstone Mobile Platforms
The broker offers two mobile platforms to its users. Namely, these are cTrader Mobile and MT4 Mobile.
Pepperstone offers cTrader mobile platform as another option. This platform is again developed by Spotware and offers all of the functionality of the desktop version including analytics, order placement, and management through both Android and iOS versions of the platform.
Many users also comment on the quick responsiveness of the platform and friendly UI which it possesses, ultimately making it a much easier process to research and place trades on your mobile device.
Pepperstone again incorporates the MT4 platform from MetaQuotes as a mobile option through their site. The mobile app is easily downloadable on either iOS or Android devices and functionality is much the same. Through the application, just search for Pepperstone and proceed to log-in.
Again, as with other MT4 platforms in different formats, the mobile app is intuitive, well-presented, and featuring all of the expected graphs and technical indicators as well as the ability to engage in trading easily whilst on the move.
Pepperstone is engaged in a number of trading industry partnerships.
One such partnership is with ZuluTrade, itself a popular social trading platform. Through this partnership you can copy trades of your chosen system directly into your account without fuss and also not have to pay any performance or management fees.
For this purpose, Pepperstone also offers both MirrorTrader and Robox platforms.
This extensive partnership network gives Pepperstone a very strong position when it comes to facilitating social trading (for this you can also read our social trading guide) among its user base. This may be particularly attractive to new traders or those with little experience who wish to follow the trades of other professionals.
This is easily possible through a Pepperstone account which will link flawlessly to any of the social trading platforms mentioned.
MAM / PAMM
The MAM and PAMM software operated through Pepperstone allows for some of the most efficient, secure, and flexible management of accounts from the side of money managers.
Not only can they benefit from the features of the MT4 MAM module, they can also access Pepperstone’s own interface from within a proprietary Secure Client Area to provide even greater flexibility.
Pepperstone is fully supportive of API trading and have developed a comprehensive infrastructure to facilitate this type of trading which would allow access to Pepperstones raw liquidity feed and a network of 22 banks and liquidity provider who are competing for trades.
Pepperstone Support, Research, Educational Material
Pepperstone offers comprehensive customer support to rival any major broker in the industry.
Throughout most of its worldwide locations, the company operates 24-hour support by local telephone and dedicated regional specific email. Furthermore, a live support option is available around the clock through the company website.
When it comes to research tools and capabilities, likely the strongest part of Pepperstones armory is its implementation of Autochartist.
The tool can work in collaboration with MT4 to provide powerful pattern recognition. The tool simplifies analysis required by users and helps to identify trading opportunities based on support and resistance levels. This research tool can operate constantly and provide the relevant automated alerts when a target is reached. Pepperstone facilitate Autochartist as both an MT4 plugin and a web-app.
Beyond this, the Autochartist feature provides daily market reports direct to your email and Pepperstone also feature a market review section where they post blog style analysis and forex industry new articles every 2-3 days.
Education and Trading Material
Pepperstone does not just facilitate institutional or experienced traders. As a retail trader new to the industry, you can benefit from the plethora of educational services and economic tools which Pepperstone provides.
These training services include tutorial videos, extensive training guides, and an ever-growing number of webinars in which you can participate. There are also tools such as an essential economic calendar, and a dedicated support and FAQ section housed within the website.
Pepperstone users, customers and bad reviews
Before moving on to our final opinion on Pepperstone, for completeness we want to give you the opportunity to read some comments and experiences written directly by other users. However, important prerequisites must be made:
WARNING: in the world of online trading, very often users who do not know how to operate professionally, and therefore lose money, vent their frustrations by giving bad reviews on the broker, opinions that have nothing to do with the quality of the broker in question.
WARNING 2: There have been many cases where non-professional rival brokers paid fake users to write false negative reviews on other brokers.
That said, it can still be useful to take a look at the direct feedbacks of other users, if for no other reason to understand what to pay more attention to when you start working with that broker.
Final thoughts and opinions on Pepperstone
Now that we have worked through an extensive Pepperstone audit and encompassed all elements within the company and what the broker has to offer in terms of products and services, we will conclude with various findings and final recommendations as to how Pepperstone can best suit your needs as a trader.
Pepperstone 2020 opinions and final comments
Pepperstone is a highly decorated company who have won a variety of accolades based on their performance.
This is clearly displayed throughout the offerings they present to clients. Any broker review which is objective cannot help but recognize the extensive range of services the company attempts to offer to all of its clients, both retail and professional, and the excellent value which this represents.
Why you should choose Pepperstone
There are a variety of reasons you may choose Pepperstone, from the trading platform analysis we can see the broker has gone to great lengths to integrate the widest range of options for clients and this is true throughout the company.
As a retail trader you can certainly benefit from the number of account options and trading markets which feature almost no commission too. The same applies to professional traders who can also exercise a greater degree of flexibility than they may be allowed with other brokers.
Pepperstone Pros and Cons
- Award-winning broker highly compliant with industry regulations.
- Extensive opportunities to learn and trade with multiple respected trading platforms.
- 24-hour customer support worldwide.
- Commission free trading with highly competitive spreads.
- A low-minimum deposit required to get started.
- Slightly limited range of trading pairs available when compared with other brokers.
- Educational materials are adequate but not as extensive as other brokers for new traders.