Last updated: May 14th, 2020
This is the unbiased Pepperstone review. Pepperstone Limited is one of the few true ECN brokers available globally. Pepperstone is a solid Australian forex broker with the main headquarters in Melbourne that has been in the business since 2002.
- True ECN Broker
- Low spreads starting from 0.1 Pips
- Leverage up to 400:1
- Excellent reputation
- Min. first deposit $200
- Regulated by FCA UK, ASIC Australia
- MT4 or cTrader
- Focused mostly on forex
Pepperstone review – Trading Account Types
Broker Pepperstone offers 3 types of trading accounts:
- SWAP-FREE Islamic account.
With all three accounts, Pepperstone offers:
- One of the lowest forex trading costs (spreads) you can possibly find!
- Possibility to try trading on demo account
- Wide range of offered currency pairs
- Protection against negative balance
- Maximum leverage up to 1:500
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 1 pips, and you do not pay a fee to execute the trade. You can choose one of three MetaTrader 4, MetaTrader 5 or cTrader trading platforms for your account.
3. Islamic SWAP free 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
1. Webtrader trading platform
Pepperstone’s webtrader provides direct access to the trading account from any computer with internet access. The web-based trading platform offers full functionality with a very simple and intuitive operating concept.
Even beginners in forex trading should get along with this trading platform without any major difficulties.
During our test, there were no delays with orders. We liked the variety of charts with technical analyses and a large number of indicators.
Our review of Pepperstone was conducted using the Pepperstone webtrader.
We have found out that Pepperstone’s webtrader is pretty easy even for a newcomer. It doesn’t require a steep learning curve like Metatrader 4. Pepperstone webtrader is user friendly, every item is where you would expect it to be. As a new user you need perhaps few minutes to learn the ropes. Our review is the evidence that there’s no steep learning curve here really.
2. Mobile trading Apps
Traders can use mobile trading apps that we tested on our Android smartphone Samsung A50 Galaxy. During the review we found it working nicely and smooth.
Mobile trading apps benefits:
- you can open a trade with few clicks
- different charts available
- faster than competition and not freezing
3. Metatrader 4 (MT4) trading platform
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.
You can trade with cTrader which in our opinion is not only more modern but also more user friendly than old fashion MT4.
Pepperstone broker set the minimum deposit for all 3 trading accounts at $200.
Broker Pepperstone allows you to trade financial instruments via CFD contracts.
You can trade the following financial instruments with Pepperstone:
- Forex – The company allows you to trade more than 70 currency pairs, including the popular EUR / USD, GBP / USD or GBP / JPY.
- Commodities – With CFDs you can trade gold, oil, silver, coffee or sugar. In total, you can trade 11 commodities.
- Indices – Enrich your investment portfolio with the S&P 500 stock index or the German DAX index. In total, you can choose from 15 stock indices.
- Cryptocurrencies – slowly but surely becoming a fixed part of the offer of many brokers. Pepperstone allows you to trade CFD on
- Bitcoin spreads average 10 Pip
- Bitcoin Cash – spreads average 4 Pip
- Ethereum – spreads average 2 Pip
- Litecoin – spreads average 3 Pip
- Dash – spreads average 3.1 Pip
Pepperstone review of Spreads & Fees
Spreads heavily depend on the type of Account that you have selected!
Pepperstone is an Australia ASIC regulated forex broker.
Since 2018 they hold FCA United Kingdom regulation as well so that they can cater to European Union market as well.
Strong regulation by both ASIC and FCA also ensures a certain degree of security for trader and his money!
Pepperstone Demo Account
It is possible to try first with $5000 virtual money on a demo account with all trading functions available. Traders use practice account for an unlimited period of time!
Pepperstone review – withdrawal process
You can deposit 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.
Deposit method will in many cases depend on the country where you are located.
- Bank transfer
- China Union Pay
- Credit/Debit Cards (Mastercard, VISA )
- Skrill / Neteller
We did the review using 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 A 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!
Pepperstone review – Our Verdict:
Pepperstone Group Limited is a reliable and regulated Australian ECN forex broker.
We have to give the credit where it is due, since during the review we have found out that they really deliver what is being said in marketing materials.
Pepperstone Limited brand 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.
We would recommend Pepperstone to those traders who seek high security, professionality and stability.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.