PepperStone Review

Background

Pepperstone has a reputation for tight spreads and fast order execution, making the brokerage popular with scalpers and fans of automated trading. The three trading platforms give traders secure access to a wide selection of the world’s most highly traded assets, including forex and cryptos, stocks, commodities, indices and more. Pepperstone has a no gimmicks approach to trading and focuses on providing traders with core tools, effective analytics, and good account management and customer service.

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Protection & Security

Pepperstone is registered in the UK and Australia and Dubai. The brokerage maintains a strong privacy policy and guarantees every trader an individual segregated account. The platforms are protected by new SSL security technology and traders are backed up by effective customer service and account managers.

Global Presence

Pepperstone is an Australian brokerage with corporate offices in London, Cyprus and Germany. It accepts traders from most countries, with the exception of the US, NZ, Canada and Japan.

Account Types

Pepperstone is let down by the lack of account types. The Standard Account and Razor Account are not enough to satisfy most traders. The process for opening an account varies according to location, but is unecessarily complicated.

Minimum Deposit – $200

Deposits & Withdrawals

Pepperstone provides the usual deposit and withdrawal options, and a choice of account base currencies. As with most brokers, traders are recommended to opt for bank wire or credit/debit cards for their deposits and withdrawals. The account management processes are reasonably simple but there is an unnecessarily high fee of $20 for bank withdrawals for clients outside the EU and Australia. Otherwise, the fees are reasonable and withdrawals are usually transferred within a few working days.

Deposit

Pepperstone is unusual among CFD brokers in claiming to have no minimum deposit requirement. The recommended amount is $200. Traders are required to verify their accounts before they can make a first deposit.

Withdrawals

Withdrawals are simple via your trading account, but do require additional confirmation. There is a minimum withdrawal amount, but it varies according to your location. There may be additional restrictions for PayPal, Neteller and Skrill users.

Trading Platforms

Pepperstone uses MT4 and MT5 as well as the less well known cTrader platform. All the platforms provide a professional multilingual trading experience and come with the latest trading tools, price alerts, fee reports and risk management. The platforms are customizable and user friendly.

Markets & Products

Pepperstone has a strong forex and crypto selection, but only an average choice of other CFD assets. These are mostly major stocks and commodities. An interesting platform feature is that commodity traders can open positions in gold against multiple currencies (USD, EUR, AUD, GBP, CHF).

Edcuation Center

Pepperstone has an above average education center, although it needs updating. Traders can choose from platform tutorial videos, an MT4 course, trading glossary, and more resources. We recommend using them alongside the free demo account and the broker’s YouTube channel.

Customer Service

Pepperstone has an effective customer service, but it doesn’t operate at weekends. This is the time when many traders want to manage their accounts and may have urgent questions. You can however contact the multilingual reps 24/5 via chat, phone and email.

Promotions & Offers

Pepperstone’s main promotional offer is their refer a friend scheme. Traders can earn up to $250 for each friend they bring (the actual amount depends on deposit size and trading volume). They also run minor promotions throughout the year.

Trading Tools & Reaserch

Pepperstone offers some excellent trading tools, but their availability depends on the platform that you use. Options include the Smart Trader Tools package, Autochartist, API trading and VPS Hosting. There are also various news feeds and market alerts.

Overall Summary

PLUS:
Pepperstone provides a secure trading environment with a choice of 3 trading platforms. The brokerage is well designed and (mostly) charges low fees. It is also a well established brokerage with a lot of experience and an international presence.

MINUS:
The brokerage is mainly focused on forex and cryptos. The wider asset index is too small for most traders. The market news and reports are weak and not always useful.

Pros & Cons

Pros

MT4 and MT5 platforms

14 language customer service

Gold trading against forex majors

Well established secure brokerage

Cons

Education center needs newer articles and videos

Only two account types

Lack of wider assets

Could provide better news and analysis

PepperStone

PepperStone

Protection & Security
3.5/5
Global Presence
2.5/5
Account Types
3/5
Deposits & Withdrawals
4/5
Trading Platforms
4/5
Markets & Products
3.5/5
Edcuation Center
4/5
Customer Service
3.5/5
Promotions & Offers
3/5
Trading Tools & Reaserch
3/5

Minimum Deposit - $200

Recent Comments

Fred M.

November 17, 2020 08:00

3.4

Protection & Security

3.5

Deposit & Withdrawal

3.4

Trading Platform

4.0

Markets & Products

3.2

Education & Research

3.6

Customer Service

3.0

Your ‘English speaking’ customer service rep hasn’t made it to high school level English yet.

Pros

Cons

OK for scalping and day trading

Customer service experience was bad

Made a few bucks with 'refer a friend'

Weren't really enough assets for diversification

Trading platforms are definitely good

I got stung with a withdrawal fee

Peter N.

November 17, 2020 08:00

3.6

Protection & Security

3.8

Deposit & Withdrawal

3.4

Trading Platform

3.2

Markets & Products

4.0

Education & Research

4.1

Customer Service

3.7

I’m a new in Forex and really wanted to try to find addition income, but it didn’t work good for me. I lost $1000 in a short time and not sure ill come back to trade again.

Pros

Cons

It's easy to register and join

They made me too confident - I lost money

They have all main languages

No reps online at weekend

I was happy in the education center

Account manager want me to deposit

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