Pepperstone is a Forex and CFD broker founded in 2010 with headquarters in Australia and a branch in the United Kingdom. Accordingly, the broker is licensed and regulated in Australia by ASIC under license number 414523 and in the UK by FCA under license 684312. Pepperstone provides 6 asset class trading and social trading through ZuluTrade , the MetaTrader Signal and other platforms.
Pepperstone Instruments and Trading Environment
Traders at Pepperstone have access to tradable instruments from 6 asset classes. For Forex trading, traders can choose from around 60 different currency pairs, including all majors and a selection of minors and exotics. Forex spreads start from 1.0 pips for standard Pepperstone accounts and from 0 pips plus commission for razor accounts.
In addition to the currency pairs, Pepperstone offers 14 international indices with spreads starting at 0.3 points, 6 commodities, 3 energy CFDs, a selection of shares of the US stock market, the US dollar index, and 5 different crypto currencies. For all instruments, the website contains information on the specifications of the individual instruments, from spread and minimum trading size to swaps and trading times. At Pepperstone, there is no dealing desk, which means no one interferes with the broker's quotes or order and it is forwarded directly to the market.
The maximum leverage at Pepperstone UK under FCA regulation is 30:1 for retail traders in Forex trading and 500:1 for professional traders. Retail traders are protected against negative balances under EU regulation and all traders' balances at Pepperstone are protected under the Financial Services Compensation Scheme. Clients wishing to have an account with Pepperstone as a professional trader must prove their qualifications in accordance with regulatory requirements.
For Pepperstone AU clients not subject to EU regulation, the leverage restrictions do not apply and a maximum leverage of 500:1 is available to retail investors. Professional clients have the option of using a higher leverage. For Pepperstone AU clients, the rules of the Australian Financial Supervisory Authority (ASIC) apply, not the EU regulations. All brokers in Australia must be licensed through ASIC. The protection of traders differs in some respects from that of European regulators (e.g. maximum leverage), but overall it provides the necessary protection for traders. Thus there is also an Investor Compensation Scheme under the ASIC regulation if a service provider is no longer solvent.
Pepperstone Trading Platforms
Pepperstone offers traders three different trading platforms to choose from, MetaTrader 4, MetaTrader 5 and cTrader, and the possibility of social trading across different platforms. With MetaTrader platforms, the biggest advantage is probably the many ready-made indicators and the large number of available EAs. These also offer beginners the possibility to create a professional trading environment without high costs. Both MetaTrader platforms can be used on PCs with Windows operating systems and on Mac computers.
The biggest advantage of cTrader is the possibility to develop application scripts in the widespread programming language C#. Of course, cTrader also offers a large number of ready-made indicators to enable well-founded trading decisions. In contrast to the MetaTrader platforms, the cTrader is only available for Windows systems.
Mobile App Trading Platforms at Pepperstone
Pepperstone also offers the possibility of trading on mobile devices such as iPhone, iPad and smartphones and tablets with Android operating system. Apps can be downloaded from the App Store for iOS devices or Google Play for Android devices. In contrast to the desktop version, the mobile cTrader version is also available for devices with iOS operating systems.
Social Trading with Pepperstone
For traders who prefer to copy the trades of successful traders, Pepperstone offers various social trading platforms. Pepperstone UK clients can use ZuluTrade, one of the most popular copy trading platforms, or MetaTrader Signals to copy trades. MetaTrader Signals are integrated directly into the platform, with some signals being free, while others charge a fee to use them. In order to use ZuluTrade, a trading account must be connected to the provider via the client area on the website. According to the broker, the setup and connection with ZuluTrade takes approximately 24 hours.
Pepperstone AU clients can choose from a total of six social trading platforms: Myfxbook, ZuluTrade, Mirror Trader, RoboX, MetaTrader Signals and DupliTrade. The process of setting up an account with each provider is described in detail on the Pepperstone website.
Pepperstone Trading Accounts
Pepperstone basically offers two different trading accounts to choose from, the Standard Account and the Razor Account. Although the website also lists the swap-free account, this is largely the same as the standard account in terms of features. All account types allow the use of EAs, scalping, hedging or news trading and all accounts work with no-dealing-desk execution.
The standard account corresponds to the account type known from most brokers. This means that no commission is due for opening and closing trades, but the broker earns his income from the spreads. Spreads on standard accounts start at 1.0 pips and the minimum trade size is 0.01.
Spreads are also calculated for the razor account, but these start for example at 0 pips for EUR/USD and are only 0.3 pips on average. The Razor account is used to calculate a commission for each trade, which is around 5.20 euros per complete trade (opened and closed). Depending on the base currency, account and platform, this commission can change slightly. In AUD, for example, the commission is 7 AUD per roundturn.
The minimum deposit for opening an account is 200 EUR (or 200 AUD for AU accounts) as shown in the account comparison on the Pepperstone website. However, according to the FAQ on the website, a lower amount is also possible on the first deposit. Available account currencies at Pepperstone UK are EUR, USD, GBP and CHF. Accounts with Pepperstone AU also allow AUD, NZD, CAD, JPY, SGD and HKD as base currencies.
Pepperstone Education and Tools for Traders
The educational offer for beginners at Pepperstone UK is rather modest and is limited to introductions to forex trading and trading CFDs. The Pepperstone AU website also offers an MT4 course, trading guide and webinars. In particular, the webinars are a great way for beginners to expand their knowledge for live trading.
The range of tools available at Pepperstone UK to support trading is quite manageable, but offers real advantages especially for the MetaTrader. The MetaTrader Smart Trading Tools are available for the MT 4/5 platforms. These offer 28 features in the form of EAs, indicators and functions that are a great assistance when planning and executing trades.
For the CTrader, traders can access cTrader Automate, with which automated trading can be implemented using the C# programming language. In connection with cTrader.API market data can be used effectively in trading.
For technical analysis, Autochartist is directly integrated into the MetaTrader platform. Besides the recognition of chart patterns to identify possible entry points, Autochartist contains useful functions such as a risk management tool or a probability filter that predicts possible market movements in up to 24 hours.
The Pepperstone AU website also provides some information and analysis on market dynamics. These are basically helpful support, but are not updated daily. However, it may be worthwhile to check back regularly.
Deposits and Withdrawals at Pepperstone
The payment methods available for deposits and withdrawals at Pepperstone UK are not very extensive, but include the most commonly used payment options: Visa, Mastercard, Bank Transfer, Neteller, Skrill and Sofort. If a withdrawal is requested from Pepperstone before 8:00 GMT, it will usually be processed the same day. Requests received after 8:00 GMT will be processed the next day. The payout time is 3-5 business days including processing time for bank transfers, 2-3 business days for credit cards and 1-2 business days for e-wallets.
In addition to the payment options already mentioned, Pepperstone AU also offers its customers POLi, BPay, Union Pay and PayPal for making deposits and withdrawals. Pepperstone uses SSL encryption, which means that all data is sent securely and there is no risk that third parties might have access to it.
Pepperstone Support and Customer Service
If you would like to contact Pepperstone's support team, you can do so via live chat, e-mail or phone. For phone calls, you will find phone numbers from the United Kingdom, Australia, the USA and Bangkok in the customer area. The customer service staff proved to be competent and patient, even with many or complicated questions.
Screenshot Pepperstone Website
Pepperstone - Final Rating
Pepperstone proves to be a global broker offering a secure trading environment to traders worldwide with regulation by FCA in the UK and ASIC in Australia. The range of tradable instruments on offer is not overwhelming, but it is more class than mass that counts. With the trading platforms available and the additional tools, Pepperstone offers beginners and experienced traders the opportunity of a successful trading experience.