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.
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.
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
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.
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 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.
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.
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).
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.
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.
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.
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.
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.
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.
MT4 and MT5 platforms
14 language customer service
Gold trading against forex majors
Well established secure brokerage
Education center needs newer articles and videos
Only two account types
Lack of wider assets
Could provide better news and analysis
Minimum Deposit - $200
November 17, 2020 08:00
Your ‘English speaking’ customer service rep hasn’t made it to high school level English yet.
November 17, 2020 08:00
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.