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.
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
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.
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