In this Pepperstone review we have put together the list of pros and cons, compared the trading fees, forex spreads, trading platforms etc. Our team of experts has reviewed the speed of deposit and withdrawal, account opening, trade executions and we have tested the quality of Pepperstone’s customer service.
How did Pepperstone stand up against the competition during our test ?
You can find real user Pepperstone reviews at the bottom of this article in the comments section.
Pepperstone Pros and Cons
Pepperstone’s forex spreads are one of the lowest one can find, their account opening process was fast, smooth and of course fully digital. It is one of the most regulated forex brokers with solid track record and above average trade execution. Customer service was competent.
On the negative side, Pepperstone doesn’t yet offer its own propriertary webtrader trading platform but you can use Metatraders, cTrader, TradingView.
- ✅Ultra Low Forex Spreads from 0.00 pips
- ✅No requotes, No slippages policy
- ✅CFD Shares, ETFs, Crypto, Commodities, Indices
- ✅Leverage up to 1:30 (ASIC license)
- ✅Leverage up to 1:200 (SCB license)
- ✅Leverage up to 1:30 (BaFIN Germany)
- ✅Leverage up to 1:400 (CMA Kenya)
- ✅Leverage up to 1:30 (DFSA Dubai)
- ✅Leverage up to 1:30 (FCA, CySEC license)
- ✅Minimum deposit $1
- ✅1200+ assets available
- ✅Spreads are floating (variable)
- ✅Fast trade execution
- ✅Spread Betting for UK, Ireland clients
- ✅Scalping/Hedging is allowed
- ✅MT4 / MT5, cTrader, TradingView
- ⛔️Not available for USA traders
- ⛔️No real stocks available (only CFDs)
- ⛔️No proprietary web browser platforms yet
74% – 89% CFD retail investor accounts lose money.
Pepperstone review summary
|Trading Fees, Spreads||97%|
Is Pepperstone safe?
Pepperstone markets limited is considered very safe forex broker with a high quality score of 98/100.
It is our top recommendation for forex trading.
Top 1 Jurisdictions:
- Financial Conduct Authority of United Kingdom (FCA UK) Registration number 684312
- BaFin Federal Financial Supervisory in Germany Reg.Nr.151148
- Australian Securities and Investments Commission (ASIC) Reg. nbr. AFSL 414530
Tier 2 Jurisdictions :
- Cysec – Cyprus Securities Commitee 388/20
- Dubai financial services authority DFSA
Tier 3 Jurisdictions :
- CMA Capital Markets Authority in Kenya No.128
- SCB in Bahamas
Pepperstone offers Negative Balance Protection to its UK and E.U. clients.
Pepperstone Main Features
|💰 Broker rating||95%|
|💳 Minimum deposit||$1|
|📉 EURUSD spread||from 0,0 pip|
|🖥 Minimum trade volume||0.01 MicroLot|
|💰Currency pairs||70+ pairs|
|📉 Max leverage||depends on the entity |
starting from 1:30 up to 1:500
|📉 Metatrader 4||✅|
|📉 Metatrader 5||✅|
|📉 Proprietary platform||⛔️|
|📉 CFD on Stocks||✅|
|📉 Real Stocks||⛔️|
|📉 CFD Gold, Silver, Oil||✅|
|📉 Agriculture commodities CFD||✅|
|📉 Indices CFD||✅|
|📉 PAMM Account||✅|
|💰 Account Types||Standard, Razor, Islamic account|
|💰 Islamic account||Yes swap free islamic account|
|💰 Account currencies||GBP, AUD, USD, SGD, HKD, JPY, NZD, EUR, CHF|
|☎ Regulation||ASIC Australia |
FCA United Kingdom
DFSA Dubai UAE
|📚 Languages supported||24 languages supported: |
Arabic, Bengali, Bulgarian, Chinese Simplified, Chinese Traditional, English, French, German, Greek, Indonesian, Italian, Korean, Malay, Persian / Farsi, Polish, Portuguese, Russian, Spanish, Thai, Vietnamese
Pepperstone Spreads & Fees
Spreads heavily depend on the type of Account that you have selected!
Average spreads on Pepperstone Razor Account:
AUD/USD EUR/USD GBP/USD USD/CAD USD/CHF USD/JPY 0,17 Pip 0,09 Pip 0,59 Pip 0,31 Pip 0,35 Pip 0,25 Pip
Broker Pepperstone offers 3 types of trading accounts:
- Standard Account
- Pepperstone Razor Account
- Swap Free Islamic Account
With all three trading accounts, every trader gets:
- One of the lowest forex trading costs (forex spreads)
- Possibility to try trading on demo account
- Wide range of offered currency pairs
- Maximum leverage up to 1:400 (depends on jurisdiction)
1. Razor Account
The Razor Merchant Account offered by Pepperstone is a state-of-the-art infrastructure that allows forex traders to benefit from flexible leverage and trading from as little as 0.01 Lot.
Thanks to Pepperstone’s access to interbank prices, the spread starts at 0.0 pips. Traders will be charged $3.50 to trade 1 Lot (100,000 currency units).
2. Standard Account
The Standard trading account offers spreads starting from 0.6 pips, and you do not pay a fee to execute the trade. You can choose one of three MetaTrader 4, MetaTrader 5, cTrader, TradingView trading platforms for your account.
3. Islamic Account
The Islamic Swap-Free Merchant trading Account (without swap fees) is for merchants who cannot receive or pay swap fees. Spread height starts from 1 pip.
The trading account is interest-free, while allowing traders to use Pepperstone’s cutting edge trading technology and deep liquidity.
Pepperstone Trading Platforms
Metatrader (MT4, MT5) trading platforms
Pepperstone offers the world’s most popular trading platform MT4 for Forex trading. Especially professionals appreciate the numerous settings options of The MetaTrader 4. Thanks to expert advisors (EAs), automated trading strategies can be easily created.
Mobile trading Apps
Traders can use mobile trading apps that we tested on our Android smartphone Samsung A50 Galaxy. The app worked smooth during this review.
Mobile trading apps benefits:
- you can open a trade with few clicks
- different charts available
- faster than competition and not freezing
You can trade with cTrader which in our opinion is not only more modern but also more user friendly than old fashion MT4.
If you have an account with TradingView, you can easily connect it with your Pepperstone trading account and place trades through the TradingView.
Financial Instruments Available
Broker Pepperstone allows you to trade financial instruments via CFD contracts.
You can trade over 1200 financial instruments with Pepperstone:
- Forex – The company allows you to trade more than 70 currency pairs
- Commodities – With CFDs you can trade gold, oil, silver, coffee or sugar. In total, you can trade 17 commodities.
- Indices – Enrich your investment portfolio with the S&P 500 stock index or the German DAX index. In total, you can choose from 25 stock indices.
- Cryptocurrencies – slowly but surely becoming a fixed part of the offer of many brokers. Pepperstone allows you to trade CFD on 18 cryptocurrencies and 3 baskets.
It is possible to try first with $50.000 virtual money on a demo account with all trading functions available. Traders use practice account for an unlimited period of time!
Pepperstone’s minimum deposit is $1 but we recommend to start with at least $200.
Base account currencies
You can deposit money into your trading account in one of the following currencies:
Euro €, AUD, USD $, NZD, CHF, GBP £, JPY ¥, SGD and HKD.
Deposit methods available
Minimum first deposit is currently $200 or its equivalent in other currencies.
Available deposit method depends on the country in which you are located.
- Bank transfer
- Credit/Debit Cards (Mastercard, VISA )
- China Union Pay
- Skrill / Neteller
We have used Skrill ewallet and the withdrawal was processed fine one the exact same day when we requested it through the platform. The money arrived on our Skrill account the next day.
We recommend to use either card payment or wire transfer since both are free of charge. Skrill will charge you an additional transaction cost 2.5%.
How To Open Pepperstone Trading Account
We found account opening process little bit faster when we compare it with competition. However due to a fact that this broker is regulated you must provide moreless the same information like elsewhere. It took us around 5 minutes to open an account, and hopefully it will take you the same amount of time.
- First you will be asked to create username and password
- Then confirm email address (this is important step)
- Set the account type and currency
- Complete the trading experience survey (required by the regulator)
- Once your account is approved by compliance, you can deposit
- Start trading!
We highly recommend Pepperstone broker to traders who seek low spreads, high security and stability.
Pepperstone is a reliable and regulated forex broker. We have to give the credit where it is due, during this test we have found out that they really deliver what is being said in marketing materials.
Pepperstone broker presents itself as a reputable brand and professional solution for people who want to trade foreign currencies blazing fast and at a lower cost.
Thanks to their modern mobile trading app you can trade whenever you go and the free use of the demo account makes it risk free for anyone who just wants to try things out without risking a dollar.
|Risk Disclaimer: |
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money