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Pepperstone – overview of a large forex broker (CFD, Crypto currency)
Virtually all users of the World Wide Web (on the topic of earning in the network) can be divided into three big “categories”:
в—Џ The first believe that all the proposed ways of making a profit using the Internet – this is a 100% deception.
в—Џ The second, are sure that you can earn online, but for this you need to pay a lot of attention and money to your education
в—Џ And the third group does not enter into meaningless disputes, does not prove anything to anyone, does not prove anything, but takes and earns a decent amount, while not violating the laws and moral principles of the countries where they provide their services.
Representatives of the latter category are most often interested in the global financial market, which is able to bring its clients more than one hundred thousand dollars, for a relatively short period of time. The main requirements for the realization of this goal are the basic knowledge in the industry where they work, a detailed study of all news and forecasts related to the trading assets of interest, as well as the availability of seed capital so that its amount corresponds to the tasks set.
Among the objects of interest for this topic, Pepperstone, which begins its business exclusively as a forex broker, is increasingly attracting the attention not only of experienced participants in online trading, but also of traders who make their first attempts to profit in other segments of the global financial market .
Pepperstone Features and Suggestions
Taking into account the fact that the competition between the participants of the world financial market has recently intensified, often using too crude methods to eliminate opponents, do not trust all the information you will find about the broker in the network. That is, if someone proves that this company does not pay its customers, blocks their accounts for no reason, or finds thousands of other ways to refuse to fulfill their obligations, it means it is worthwhile to conduct your own analysis of the broker’s activities. With such negative characteristics, the participants of the world financial market do not “live” for a long time.
In 2020, in the Australian city of Melbourne, a forex broker was created, which practically every participant of online trading knows today. If the company started its activity as a broker working with currency, then after eight years the sphere of its interests has significantly expanded. Famous, in practice, proven their reliability, the platform Meta Trade 4/5, and specially developed for Pepperstone application can perfectly perform the tasks. In this case, the trader does not have to worry about the safety of personal data or his investments.
Any technical or financial issues a company user can solve with the help of online chat, e-mail, telephone or Skype. And you should pay attention to the fact that the support service works flawlessly. You do not have to repeatedly repeat your question to other, “more competent” employees of the company.
Investments of traders are kept in the accounts of the most reliable Australian banks. Therefore, an account registered with Pepperstone is a guarantee that the user can withdraw his investment at any time.
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Regulation of the activity of the broker
An additional factor in the security of the financial broker presented is the fact that its activities are regulated by the Australian Australian regulator ASIC and the Financial Accounting Authority in the UK (FCA). Also worth paying attention to the fact that the financial responsibility of the broker is insured in the concern Lloyds of London.
You do not even need to be a professional economist to draw conclusions about the reliability and security of the structure in question. Today, it is quite difficult to find a structure of such a level that can protect the interests of its clients from almost any side.
Training of traders
The financial success of the future trader and the amount of his expected income largely depends on how much he understands the issues of Internet trading. Therefore, site administrators are constantly working on expanding the training material on the trading platform and adding information, the analysis of which will help traders to increase the amount of their income. At the same time, users of the web resource are constantly reminded of the risks associated with the implementation of affordable financial transactions.
But beginners should be aware that on the trading floor all training materials and financial news are designed for users who have at least basic knowledge to work in this field of the economy. On the web resource you can easily find all the latest economic news, exchange rates, analytical forecasts, etc.
But even if you do not have enough experience, you can take advantage of such an interesting proposal as Social Trade. Its essence is to copy the transactions of successful traders who demonstrate good statistics on financial transactions
Getting Started on Pepperstone
On the considered resource it is possible to open two types of accounts:
в—Џ EDGE Standard (above the spreads, but there is no commission).
в—Џ EDGE Razor (there is a commission, but below the spreads).
Also, users can open an Islamic account.
в—Џ The minimum deposit amount is $ 200.
в—Џ The minimum rate is 0.01 lot.
в—Џ There is an affiliate program.
в—Џ Automatic operation mode.
в—Џ Account currencies: Australian and American dollars, Euro.
According to the users who made up the Pepperstone review, these conditions allow you to work comfortably and get a good income.
For profit, the clients of the broker can use the following trading tools:
в—Џ Currency pairs.
в—Џ CFD on stock indices.
в—Џ Precious metals.
в—Џ Crypto currency.
How to replenish your account and withdraw money
If you follow the basic compiled about Pepperstone user reviews, you can see that to replenish trading accounts and withdraw funds, most often used:
в—Џ Plastic cards of financial and credit institutions (Visa and MasterCard).
в—Џ China Union Pay.
в—Џ Broker to Broker.
The specific way of replenishing the purse and withdrawing funds depends on such factors as the region’s residence, the presence / absence of the current payment system and the commission for the transfer currently established.
Pepperstone has won numerous industry awards for innovation and excellence in CFD Brokerage. Pepperstone is an Australian-based online ECN forex broker with some of the industry’s lowest spreads.
- Award Winning CFD Broker
- No Deposit or Withdrawal Fees
- Fee-Free Funding Options
- Razor Spreads from 0.0 pips
- Smart Trader Tools
- No Guaranteed Stop Losses
- No Guaranteed Limit Orders
- No Automated Trading
- Limited Phone Support
Pepperstone is an Australian-based online ECN forex broker with over 70 currency pairs at some of the industry’s lowest spreads. Offering spreads from as low as 0.0 for major pairs like the EUR/USD, however, there is a commission charged on these trades. Trading on other major instruments such as indices and commodities are available through their CFD services as well. They offer a broad range of platforms (11 to be exact) including the industry standard MT4 and cTrader platforms.
Pepperstone is a favourite for choice for experienced CFD traders who need a broker that can deliver superior results by offering advanced features such as institutional grade STP spreads, custom solutions including API and FX GUI solutions, as well as extensive reporting.
Pepperstone strives to offer the lowest possible trading costs paired with superior execution while offering a full product suite to meet the needs of all level of traders. Pepperstone offers 70+ currency pairs, access to cryptocurrency trading and metals such as gold and silver, commodities like oil and natural gas, as well as offering a wide range of major indices to trade.
Pepperstone offers clients four types of trading accounts:
Edge Standard Account:
Minimum deposit of
Edge Razor Account:
Minimum deposit of
Edge Swap Free Account (Islamic):
The Pepperstone Islamic account is compliant with Sharia law which enables traders to take advantage of Pepperstone’s deep liquidity and cutting-edge trading technology with zero commission and a
Edge Active Traders Account:
Superior ECN EDGE execution for Active Traders and Institutional Partners. Including a dedicated relationship manager, segregated customer account with advanced reporting such as volume tracking, EOD profit/loss reports, and daily equity snapshots.
The Active Traders Account allows you to take advantage of Pepperstone’s low latency EDGE infrastructure and offers you custom solutions.
Regulated by The Financial Conduct Authority in the United Kingdom (FRN 684312) and the Australian Securities and Investment Commission (AFSL #414530)
For trading, Pepperstone provides traders with all of the most popular trading platforms available. Offering online trading through access to 11 trading platforms, including MetaTrader 4, Webtrader, cTrader, and Apps for iPhone and Android.
Pepperstone Mobile Trading
Mobile trading at Pepperstone is available through either MetaTrader4 app or cTrader app, both are available for direct download on Google Play and iTunes. Both apps rank highly in functionality, design, and range of tools.
Earn Qantas Points
10 points per
10 points per FX lot traded up to 10,000 points per month
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on Pepperstone’s Raw Spread Razor Account for 30 days!
Pepperstone offers a wide range of deposit options for its clients: Bank Wire, Local Bank Deposit, Credit/Debit cards (Visa & MasterCard accepted), PayPal, Skrill, Neteller, WebMoney, Bpay, Union Pay, BPay, FasaPay, QIWI and POLI.
Pepperstone clients may open accounts and deposit funds in the following currencies: Australian Dollar (AUD), Canadian Dollar (CAD), Swiss Franc (CHF), Euro (EUR), British Pound Sterling (GBP), Hong Kong Dollar (HKD), Japanese Yen (JPY), New Zealand Dollar (NZD), Singapore Dollar (SGD) and United States Dollar (USD), .
For all withdrawals, funds are transferred to your credit card account or via bank wire. Funds will only be transmitted to a bank account with the same first and last name as the trading account. Withdrawal request are typically completed within 3 to 5 business days.
The company offers a full self-service Secure Client Area for managing your own account and the customer support team is available 24 hours, via live chat, email, and telephone support.
In addition to the international phone support provided by the Australian office located in Melbourne, traders in the following cities have local offices:
Customer Support is offered in:
The website is available in 15 languages including:
Level 5, 530 Collins Street
Ease of Use
Pepperstone offers one of the fastest execution speeds on the market using raw Electronic Communications Network (ECN) which guarantees more rapid settlement and accurate prices and is up to 12 times faster than competitor platforms. The brokerage offers an excellent customer service experience for their traders with a call center that is open 24 hours, five days a week, ensuring availability during global currency trading hours.
Why Trade at Pepperstone
Pepperstone has won numerous industry awards for innovation and excellence in CFD Brokerage. Pepperstone is a prime no desk broker that aims to accommodate all traders and all trading styles and is based in Melbourne, Australia with offices located in Dallas, USA, and, China.
To see how Pepperstone ranks against other industry-leading trading platforms see our comparison charts. Read our expert reviews, see our ratings and compare the best online trading platforms, features, fees, and more.
T&C’s apply to each of the offers above, click “Visit Site” for more details.
Pepperstone – overview of a large forex broker (CFD, Crypto currency)
Pepperstone is one of the most respected and well-known retail Forex brokers in the industry.
They are perhaps best known for their revolutionary approach to market making. This has seen them expand their operations across the globe and grow their volume to levels that have surpassed numerous competitors.
However, are they still the best deal around?
In this Pepperstone review, we will take an in-depth look into this broker by delving into their fees, instrument offering, regulation and trading technology. We will also give you some top tips in order to make the most out of your Pepperstone trading experience.
Pepperstone was founded in 2020 by Owen Kerr and Joe Davenport. Their head offices are based in Melbourne, and the office is located in Level 16, Tower One 727 Collins Street. They also have subsidiary offices in other countries in the UK, Thailand and the USA.
Pepperstone offers CFD (Contract For Difference) trading in over 65 countries around the world. Their clients can trade a collection of over 60 Forex pairs and numerous other asset classes.
They were also one of the first brokers to institute a “No Deal Desk” model. This means that they are able to eliminate any conflicts of interest. They provide their clients liquidity through their connections to the Interbank markets (22 banks and Electronic Crossing Networks).
This model has seen the broker expand exponentially and they process an average of $5.8bn in daily volume for their 75,000 traders. They have also attracted a great deal of industry acclaim and have won several awards from both local and international bodies.
This increased publicity resulted in a strategic investment from the CHAMP private equity firm back in 2020. CHAMP subsequently exited their investment in September of 2020 but has left ownership interests in the hands of the founders and the current management team.
Is Pepperstone Safe?
This is perhaps one of the most important questions for any prospective broker and Pepperstone passes with flying colours. This comes down to their extensive regulatory coverage as well as their long list of client protections.
Pepperstone has regulatory licences in Australia and the UK. The former is provided through the Australian Securities and Investments Commission (ASIC) whereas the latter is through the Financial Conduct Authority (FCA).
Pepperstone’s has an AFSL licence from ASIC which is 414530. From the FCA, they have a FRN licence which is 084 312. Below is a copy of the licences that have come from the regulatory body websites.
There are a number of benefits that come from using a regulated broker. Below are some of the protections that are provided by these agencies:
- Capital Reserves: The broker should have substantial funds in reserve to deal with any liquidity events. In the case of the FCA this is 1m GBP and it is A$1m for the ASIC funds.
- Segregated Accounts: This stipulates that the broker much hold the funds of a client in separate bank accounts from those of the main broker operation. This will protect the client funds should the broker ever go under.
- Advertising Enforcement: There are also strict rules around how the broker is allowed to advertise their services. For example, these agencies have stopped brokers from offering deceptive “bonuses” to their clients.
- Director Background Checks: Before these brokers can get their licences, the directors and owners with significant interest have to undergo a strict background check. This is to eliminate any nefarious actors.
- Leverage Limits: This is more specific to the FCA which places limits on the maximum leverage that a trader can enter a trade into. They have set this to 30:1. ASIC has no such limits.
The ASIC licence will cover those clients who are based in Australia, New Zealand and South Africa. Although the FCA licence is from the UK, it will also cover all those traders who are based in Europe. This is because of the Markets in Financial Directive (MiFID) which allow any European regulated broker to offer services to other EU members.
For the UK licence, if for any reason Pepperstone were to go under, your client accounts are covered up to £50k. Moreover, it is great to know that there is a governmental agency to turn to in the event of any issues that you are having with a broker.
Apart from the licences, there are a number of other safeguards in place that are able to protect the clients and keep the broker honest. These include the following:
- Top-tier Banks: Not only does Pepperstone keep their client funds in segregated accounts but these are held in trust accounts at well known banks in the UK and Australia. These include the likes of National Australia Bank etc.
- Liability Insurance: Pepperstone also has liability insurance from Lloyds of London. This means that they will always be covered for liquidity in unforeseen liability.
- Independent Auditing: It is also great to see that Pepperstone has retained Ernst and Young as their independent auditor. This level of transparency is not often provided at other brokerages
It is also worth mentioning that their “no dealing desk” policy makes sure that the client orders are not being front-run by anybody. There is nobody in the space that is privy to your orders (not even Pepperstone).
Given the extensive regulatory coverage offered by Pepperstone, they are able to take clients from a long list of countries. However, there are certain regions from which they do not accept clients. These include the following:
Some of these restrictions come down to the lack of a regulatory licence in that region (USA, Canada, Japan for example) and some come down to lack of proper banking infrastructure. There may also be restrictions to US citizens who are living in another country.
However, in the countries that they do operate, they have translated their website into a number of different languages. These include the likes of Brazilian Portuguese, Russian, Chinese, Vietnamese, Thai and Spanish.
These are just the languages that they have translated their website into. You can also change the trading platforms into your language or choice. For example, the MT4 platform offers support for French, German, Arabic, Italian and Polish among many others.
Assets & Leverage
As mentioned, Pepperstone offers CFD trading on over 70 different Forex pairs (both majors and minors). They also allow you to trade Commodities, Futures and Indices. They also offer cryptocurrency trading on Bitcoin (BTC), Litecoin, Bitcoin Cash, Dash and Ethereum (ETH).
The maximum leverage that you can achieve on your account is 500:1 or 30:1 if you are in the UK. This is because of the leverage limits that we talked about above. This maximum leverage is applicable to the Forex, Energy and Precious metal assets.
However, the maximum leverage that you can achieve on the Index CFDs is 200:1 on some of the larger indices and 100:1 on some of the smaller ones. Soft commodity leverage is 50:1 and cryptocurrencies have a max leverage of 5:1.
As you can see, the max leverage levels will depend on the asset in question. Some pairs are inherently more volatile than the others and will hence command a lower limit. For example, the cryptocurrency limits are really quite low compared to all the other assets.
While we are on the cryptocurrency assets, it is worth pointing out that you are not buying the physical cryptocurrency as you are on typical crypto exchanges. You are still trading a CFD which is merely a derivative instrument.
Pepperstone Fees & Spreads
When trading with CFDs, one of the most important considerations is the fee that is charged by the broker. This is because these spreads are charged on leveraged positions which are often many magnitudes bigger than the initial margin.
Low fees and spreads are Pepperstone’s bread and butter. Given their unique approach to matching client orders, they are able to achieve some of the lowest spreads in the industry. In most cases, these fees are near zero especially for the razor account.
What spreads you will get on your account will depend on which type you have opened. We will go through this in a bit more detail below but here are the spreads and fees for the respective accounts on some of the major forex pairs:
|Asset||Razor Account||Standard Account|
|Min Spread||Avg Spread||Min Spread||Avg Spread|
As you can see, the Razor account will give you a lower spread in general for most of assets. However, you will pay a separate fee called the “Lot commission”. This is a standard commission that will be charged based on the number of lots that you trade.
You will also be relieved to know that there are no deposit / withdrawal fees that are charged by Pepperstone. However, if you are using a Credit Card or you are sending money internationally, there is the possibility that you could incur third party fees.
There is also an overnight fee that will be charged on your account. This is essentially a financing charge that makes up for the interest rate differential between the two forex pairs. This is dynamic and could either be a charge or a credit dependent on which way you are trading or the interest rates in question.
The overnight fee will always be presented to you on the platform just before you place the trade. As a rough indication of what these are, they were 4.2% on EURUSD and 3.0% on EURGBP.
Surprisingly, unlike brokers such as Plus500, there is no inactivity fee for no trading in your account. However, if you stop trading your account for three months then they will archive it. You will have to ask them to reactivate it if you want to start trading again.
As mentioned, the fees that you will be charged is dependent on the account type that you open at Pepperstone.
There are three main account types that you can make use of. These are the Razor Account, the Standard account and the Islamic or “Swap Free” account. The latter is an account that is designed such that no interest is charged on the positions.
Apart from the fees on the Standard / Razor account and the Swap Free structure of the Islamic account, there are not that many differences between them. All of these accounts allow you to scalp, hedge and develop your own EAs.
Moreover, all of these accounts have a negative balance protection. This means that you will never lose more than you have deposited at the broker.
Speaking of these deposits, the minimum deposit at Pepperstone is $200. This is about in line with a number of other CFD brokers although it is higher than European alternatives such as IQ Option which have a minimum level of $10.
Lastly, for those high-volume traders among you, there is the Active Trader accounts. These are also great solutions for institutional traders and HNW individuals who trade more than 200 lots a month.
If you have an active trader account you can earn a rebate on the lots. There are two tiers of active traders and tier 1 can earn about A$1 per lot. If you were interested in the offers that they had on tier 2 then you can email in.
There are also a host of other benefits that come with the active trader account including priority customer support, Qantas Frequent Flyer Miles and VPS hosting.
Pepperstone Demo Account
If you would prefer to give the broker a try before you send any funds to them then you are free to open a no obligation demo account.
Demo accounts are great way for you to get a sense of the platform, broker and spreads in a non-threatening way. They are also great for those traders who are new to the MT4 trading platform to get a sense of how it works.
If you would like to trade on a demo account then you will still need to register on Pepperstone. You will then have to Download the MT4 trading software which will enable you to link up with your account and start trading.
Pepperstone will give you $50k of demo funds to start trading with. We were surprised to discover that Pepperstone places a 30-day limit on these accounts. Hence, you will need to decide in those thirty days whether you would like to move onto a live account.
As seasoned FX traders, one can understand the severe importance of customer support. Thankfully, customer support is one of Pepperstone’s fortes . They have even won a number of awards specifically for their customer support.
Firstly, it is worth noting that they have live support which is available 24/7. This is also instantaneous and we gave it a whirl on their chat platform online. We were able to get a response immediately and they were generally quite responsive to our questions.
For those of you who prefer to deal with someone on the phone, then there are also 24 hour phone lines. If you are calling locally in Australia then the number is 1300 033 375 whereas if you are getting in touch with them internationally it is +61 3 9020 0155.
This is also multilingual support which is helpful for those traders who’s first language is not English. If you would like to deal directly with the local office of the broker then their numbers and office locations are on their contact page.
Lastly, if you would prefer to deal with them via email then they can be reached on [email protected]. If your query is more general in nature then you can make use of their pretty extensive FAQs.
Pepperstone Trading Platforms
Let’s jump into arguably one of the most important aspects of their offer and that is their trading technology. There are three trading platforms that you can use at Pepperstone and these are the MT4, CTrader and MT5.
MT4 is perhaps one of the most well-known third-party trading platforms that is currently on the market. It is in use at countless brokers around the world and is well suited to advanced trading strategies.
MT4 was developed by the MetaQuotes company which licences the software out to the individual brokers. They have developed MT4 so that it can be used through a web browser, a mobile phone or PC client. Below is the typical MT4 interface:
The reason that this is loved by traders so much is because of the array of charting and order functionality. The MetaQuotes team have honed the product over a number of years and have constantly been adding features.
Something else that you can do on the MT4 platform is develop your own trading algorithms. These are called “Expert Advisors” or EAs. They are coded in the proprietary programming language for the platform which is called MQL4.
Although you can use the MT4 software through the web-based interface, we would encourage you to download the PC client. This is because there could be latency in orders as they are placed through the browser.
This is the new generation trading software that has been developed by the MetaQuotes company. It’s actually almost completely different from the MT4 platform and as such, may take some time for traders to get used to it.
When using the MT5 platform on Pepperstone it will offer you access to other instruments that are not available on the MT4 platform. It also has a more advanced programming language in MQL5 which is more object orientated.
You can also see the market depth of the order book on the MT5 platform. Market depth charts are a great way to see how much liquidity there is for a particular asset at different prices. For those even driven traders, the MT5 also has an Economic Calendar right on the platform.
Currently, the MT5 platform is only available on Windows and there is no mobile version so you will have to revert back to the MT4 if you want to trade on the go.
This is perhaps the most advanced platform at Pepperstone and allows traders access to the top tier liquidity at the broker. Despite the technology, it does offer a pretty user-friendly interface.
It also has a host of different presets and detachable charts which make trading with multiple screens that much easier. These charts have an enhanced ability where you also have more control over your order management.
Something else that you may find useful is the cTrader algo. This will allow you to code your own unique bots and Algorithms. It was developed in C# and will give users a wide array of tools to help them refine their scripts. This includes the likes of their intuitive back-testing functionality.
Currently, there is only a web-based and Windows version of cTrader. There is also a mobile app which we cover below.
Pepperstone Mobile App
If you are a trader on the go and need a way to monitor your positions then you can use one of the two mobile applications that Pepperstone provides.
Firstly, they have the MT4 mobile app that is available for both iOS and Android. This is perhaps one of the most sophisticated mobile trading apps and it has been downloaded thousands of times from the store.
Users who have downloaded this app have a generally positive experience and the reviews in both of the stores reflect that. With the MT4 app you have access to a wide array of charts and order functionality.
Given that the app connects directly with your MT4 account, you can also monitor your live EAs and other indicators. However, it is important to note that the technical analysis may not always be as effective as mobile screens are hard to chart on.
As mentioned, cTrader also has a mobile app for you to monitor your account. This is not an iOS or android app but it is a .exe file that you can download and load on your phone.
So, should you use the mobile apps at Pepperstone?
Mobile trading is a great way for you to monitor your account but it will never be as effective as running a desktop program. Moreover, there is likely to be significant order latency given the fact that you are using a mobile network.
Time to jump into the belly of the beast!
One of the biggest advantages of Pepperstone is their lightning fast order execution with minimal fees. This is because they use the same High Frequency Trading technology that is in use by the Investment Banks and Hedge Funds.
Pepperstone makes use of Equinix trading servers which were developed for HF trading. Equinix has datacentres that are only a few miles away from the New York Stock Exchange. They are also part of the Equinix Financial Exchange network which is a collection of bank trading servers, sell / buy side trading servers and execution venues.
What does this mean?
It means that Pepperstone is able to get some of the lowest latency orders on the market. The closer that a firm can get to the exchange servers the quicker orders are able to be executed.
Given that Pepperstone still has to connect their systems to the Equinix network, they make use of advanced optical fiber technology. These connection speeds are many multiples higher than those of traditional internet connections.
But, that’s not all…
EDGE Technology & PPI
Pepperstone also makes use of the EDGE environment. This technology makes it possible to execute trades on MT4 12 times faster and with 1/10th of the latency. This also includes additional fiber optic cabling with Interbank servers on Wall Street which allows for instant MT4 ordering.
Lastly, there is the Pepperstone Price Improvement (PPI) which is an order routing protocol. PPI is able to intelligently route the orders to deliver the best price. They are further able to reduce the spreads by using dark pool liquidity.
Overall, added improvement in pricing and execution aided by simple one-click trading in over 70 different assets.
Funding & Withdrawals
There are a number of different funding options at Pepperstone. You can choose to have your account denominated in your local currency and they offer it in USD, AUD, JPY, NZD, CHF, CAD, HKD and SGD.
There are a plethora of funding options at the broker. These include credit / debit cards, e-money wallets, PayPal, local bank transfers, international wires and broker to broker funding. Below is the complete list of the funding options.
If you would like more information on how to use each of these then you can head on over to their funding methods page where they take you through the steps of using these.
If you wanted to process a withdrawal, make sure that you submit the request before 21:00 GMT. If you do so then it will be processed that day. If you miss this deadline then it will only be processed the day after that.
If you funded your account with a credit card then you can only get up to the amount that you funded sent back to your account. This will only occur up to 60 days since the initial funding. The balance will have to be sent to a bank account in your name. Card withdrawals are instantaneous.
Similarly, if you have funded through a bank wire then the funds can only be sent to an account in the name of the primary account holder. In other words, you cannot use third party bank accounts for the withdrawals. These may take between 3-5 business days to hit your account.
If you are requesting an international telegraphic transfer (TT) then the broker may have to incur a AUD20 fee. Unfortunately, this will have to be passed onto the client.
It’s always a nice touch when the broker includes some educational material to help improve the client’s trading returns.
At Pepperstone, you have some of the standard material which includes an FAQ section and a glossary of some important terms. They also have some other interesting material and trading guides which are available on their website right now.
Learn to Trade Forex
This section goes over some of the simplest concepts in Forex trading. They take you through the basis of technical vs. fundamental analysis, trend lines and order types. They also dig into some more specific markets such as trading Gold.
If you take a closer look at each of these guides, they do not seem to be really ground breaking nor extensive. They are, however, written and presented in way that is relatively easy for a new trader to understand. Unfortunately, there were no video guides in these resources.
This is actually quite an interesting offering by Pepperstone. These webinars are run by a group of expert traders that you can join in on. When we took a look at the webinar schedule, we had the following lineup.
If there are webinars that were completed in the past then you can take a look through their archives at the bottom of the page. There are a plethora of older webinars and they are broken down into trading basics, trading strategies and trade management.
We decided to listen in on one of these webinars and they appear to be quite comprehensive and run for over 30 minutes in total. They are well instructed and the person that is leading the webinar seems to know what they are doing.
If you have already been through the basic guides that are given in introductory section then you can move onto the slightly more involved trading guides. These are quite extensive and cover everything from developing bespoke strategies to trading specific asset classes.
We took a look into some of these guides and they are well written and go over the topic quite well. And, what is really great about these guides is that they are free. You can download them right now from the trading guide section.
You can also submit your email and they will send you the latest guides as they fly hot off the press.
If you are going to be developing your own trading bots and EAs then you are most likely going to want to invest in a VPS. This way, you are able to keep them running 24/7 with close to zero downtime.
Moreover, when you set up your EAs in a datacentre you are taking advantage reduced latency. The connection speeds out of datacentres are much faster than those from your home internet. You could even take a page out of Pepperstone’s book and set up your EAs in a datacentre near the exchanges.
Pepperstone has partnered with a number of VPS providers in order to offer discounts to their traders. Currently, they have the following offers:
- FXVM: These VPS providers give you ultra low latency of only 1 millisecond. They also have multilingual staff that are on hand 24 hours a day to deal with your queries. When you open an account with FXVM it will come with the Pepperstone software installed. If you open a VPS account through Pepperstone then you will get a 20% discount.
- New York City Servers: Choosing to place your bots closest to the executing servers could be a good idea of execution time is important to you. NYC servers are close to the exchange datacentres so your EAs will have a distinct advantage. They offer 24/7/365 support through email, ticket support and live chat. If you use the “Pepperstone20” promo code then you will get 20% off of the VPS plan.
As mentioned, Pepperstone has been the recipient of a number of rewards in the Forex industry over the years. These awards come from reputable agencies and firms including a number of governmental awards.
These awards go all the way back to 2020 but here is a breakdown of their award timeline:
- 2020: Best ECN Broker in Asia and Best Intelligent platform
- 2020: Deloitte Technology Fast 50 award. Pepperstone was also named as one of BRW’s fast starters (list of 100 fastest growing companies).
- 2020: Ernst & Young Australia’s Entrepreneur of the year award and the Winner of the Governor of Victoria Export Award.
- 2020: Winner of Investment Trends 2020 Australia FX report as well as the award for the number 1 in customer service.
- 2020: Winner of the Australia FX report in 8 categories. These include client satisfaction, customer service, value for money, execution speed, spreads, platform reliability, platform ease of use, commissions
- 2020: Pepperstone took home quite a bit of awards in this year. They won the Australia FX report in 6 different categories. They also won the Governor of Victoria Export Award in two categories – exporter of the year and digital technologies award. Lastly, they won the Australian growth company awards by being the growth company of the year as well as the same award for financial services.
- 2020: Pepperstone has also been recognized in other countries where they operate. In 2020 they were awarded the UK Forex awards in 3 categories – Best ECN Broker, Best Forex support and best Forex trading conditions. Again, they also won the Best Australian broker award and the Best trading platform by an Australian Forex comparison site.
So what do all these awards mean for you?
It just further reinforces the reputability of the broker. Unlike numerous other Forex brokers that have “Mickey Mouse” awards, these are verifiable and from well known sources. Many of these also take into account feedback from current clients of Pepperstone.
What We Didn’t Like
While Pepperstone is no doubt one of the most impressive brokers that we have reviewed, there are a few things that we think warrant improvement.
Firstly, their demo account has a limit of 30 days. While this may be sufficient for most traders to get an idea of the platform, it still limits those others who would like to continue practicing for more than a month. Of course, you can always create more than one account with more than one email if you want to trade for more than this.
Secondly, we were surprised to see that there were no single stock CFDs on offer. They only allowed trading of stock indices which is quite limiting. There are a number of other European CFD brokers that do offer these products.
We were also quite surprised by the limited range of cryptocurrency CFDs as well as the low leverage limits that you have with these instruments. Some of the crypto margin exchanges offer leverage limits and asset coverage much more extensive than this.
Lastly, Pepperstone is leaving out quite a few clients by not being able to take users from the likes of the USA or Canada. Traders in these regions would also like to benefit from their razor thin fees and instantaneous execution.
Pepperstone is one of the most respected and fastest growing Forex brokers in the world. They were innovators in the space and have built a brokerage that has changed the way that we view retail FX trading.
Through their use of High Frequency Trading technology and co-location agreements, Pepperstone has given traders a unique service. Traders are now able to execute orders with razor thin margins in a mere fraction of a second.
Moreover, they have a numerous trading platforms to trade a range of different assets on. Giving the trader up to 500:1 leverage means that they are pretty well positioned to compete against their lower leveraged competitors.
While there were a few things that we thought warranted improvement, they are relatively minor when compared to the broader offer. The broker is constantly evolving and innovating and it is likely they could make further changes if these issues become a sticking point for traders.
So, is Pepperstone for you?
In the end we cannot tell you which broker to use but based on our review, Pepperstone should be high on your list of likely candidates.
Pepperstone, an ASIC-regulated forex and CFD broker, has announced it is adding CFDs on some of the most popular cryptocurrencies to its portfolio.
Clients of Pepperstone can trade in CFDs on Bitcoin, Ether, Dash and Litecoin, without the need of having a crypto wallet or purchase actual alt-coins. Trading is available across all platforms offered by Pepperstone (MetaTrader 4 and 5 and cTrader), with an existing client account and an access to institutional grade spreads and trade execution.
The leverage can be up to 1:20, which is higher than most cryptocurrency exchanges that offer leveraged trading in actual cryptocurrencies, like Kraken, CexIo, BitFlyer and Coincheck.
Additionally, Pepperstone allows traders to hedge their positions and does not charge and commission. The broker, however, notes that trading in cryptocurrencies can carry significant risks and prices are much more volatile than traditional currencies.
Pepperstone is an Australian ECN forex broker. It is regulated by the Australian Securities and Investment Commission (ASIC) and UK’s Financial Conduct Authority. The broker offers trading in more than 70 forex pairs and CFDs on MetaTrader 4, 5 and cTrader, with a minimum required deposit of GBP 100.
The broker is the latest to join the growing ranks of “traditional” forex brokers who are expanding their portfolio with CFDs on the largest cryptocurrencies. Some, like eToro, have expanded their instrument list with special investment crypto funds and trading in actual alt-coins. Others, like Swissquote, teamed up with the cryptocurrency exchange Bitstamp to offer trading in bitcoin.
More news about Pepperstone
- Pepperstone launches Autochartist’s e-mail trading service Jul 31 2020 09:39:59
- Pepperstone plans to offer Metatrader 5 platform Aug 20 2020 12:25:58
- Australian Forex Broker Pepperstone Now Offers USDRUB and USDTHB Trading Jul 11 2020 11:16:23
- Pepperstone: The Latest Forex Broker Offering USD/CNH May 19 2020 20:23:42
- Ukrainian Operations of Pepperstone Go On Normally Mar 11 2020 08:27:56
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Forex Trading at Pepperstone Review
Pepperstone Forex Review – Australia’s largest online FX broker
This online foreign exchange broker review covers a leading Australian ECN broker, Pepperstone Australia (Pepperstone Group Limited). I’m excited to include a Pepperstone review, comparing their standard vs razor accounts and trading platforms, as it’s one of the largest names in the Australian FX market with daily turnover/trading volume of $5.2 billion.
Pepperstone also offer unmatched top tier liquidity from the interbank market, with institutional grade spreads. In addition, Forex traders have the ability to earn points with Qantas while they trade!
I therefore wanted to include an Australian forex broker review of Pepperstone’s accounts and help illustrate who they may be most suited to.
Pepperstone Review Summary:
Pepperstone is an Australian online broker specialising in ECN Forex trading. Pepperstone Group Limited are one of the largest names in the Australian currency trading market, with daily turnover/trading volume of $5.2 billion (approximately $110 billion per month trade volume). This puts them in the top 10 FX brokers in the world by volume. Pepperstone spreads on their Forex instruments are some of the tightest we have reviewed.
Pepperstone will suit experienced FX traders requiring an extremely fast, reliable low cost ECN trading environment and wide variety of Forex instruments to trade.
Pepperstone Forex broker is also suited to foreign exchange traders who include scalping, Expert Advisor for MetaTrader, automated trading or hedging strategies, as these are all welcomed and available from Pepperstone accounts and trading platform.
Peperstone has expanded to also include direct access CFDs (in addition to their specialist ECN Forex) and are continually expanding this offering. Our broker review found traders have access to a range of global index, metals and commodity CFDs (plus 5 cryptocurrency CFDs). However, if equity CFD trading is of importance to you, then please be aware Pepperstone do not currently offer these.
Pepperstone broker is not suited to traders looking for fixed spreads. However, Pepperstone spreads are the lowest average ECN Forex market spreads of all brokers we’ve compared. If however you want the lowest fixed spread rates, please view our Trade Direct 365 review instead.
Our Pepperstone review has shown they are one of the best forex brokers regulated in Australia. They provide the lowest average ECN Forex spreads of all FX brokers reviewed, combined with MetaTrader & cTrader currency trading platforms, exceptional execution speed and multi award-winning customer service! In addition, eligible Pepperstone Forex traders can now earn Qantas points while they trade!
Get started now or try the Pepperstone demo trading account.
Review Detail: Pepperstone Australia Forex broker
Pepperstone spreads are extremely tight, especially the razor spreads which is the lowest raw ECN spread Forex account out of the FX brokers we’ve reviewed. Razor account ECN spreads start from 0.0 pips with excellent average spreads (a better indicator of your expected FX trading costs) of just 0.16 pips for EURUSD and 0.27 pips average spread on the AUDUSD currency pair.
Pepperstone’s standard online forex trading account offer forex traders tight, straight through processing (STP) spreads and liquidity from 22 banks and forex market ECN’s, which can also help to reduce slippage. This is great for traders who are ready to move from demo to live trading account.
Our Pepperstone review confirmed they have lowered FX trading costs with an ECN broker model of obtaining superior top tier liquidity. Foreign Exchange quotes are sourced from as many as 22 Major Banks and Electronic Crossing Networks (ECNs). Cutting edge technology combined with superior liquidity, compared to many ECN brokers, translates into extremely tight ECN spread FX pricing on all Pepperstone forex trading accounts!
If you would like to compare Pepperstones razor & standard spreads against other FX brokers, please see our Forex spreads comparison tables.
Pepperstone MT4 and cTrader Trading Platforms
Access to two of the world’s leading platforms for trading FX, MetaTrader 4 (MT4) and cTrader. There are 11 available variations of these products including WebTrader, mobile devices including Forex online platform app for iPhone, iPad & Android, plus MetaTrader 5 and cTrader cAlgo.
Users focused on EAs (expert advisor) may prefer Pepperstone MT4 due to its wider availability, more online resources and larger online community. Other traders however may be drawn to cTrader due to the greater ability to make modifications to the interface, and more advanced order options.
A common question I receive is, “what is the difference between the Pepperstone razor vs standard account“?
Edge Standard Account – The Pepperstone Edge standard FX account (MT4) offers traders deep liquidity and Pepperstone’s tight inter-bank spreads with no commission charges. The spread on this account start from 1.0 pips with straight through processing (STP) and minimum trade size of 0.01 lots.
Edge Razor Account – There is no denying that Pepperstone is one of Australia’s top low spread ECN forex brokers! The Pepperstone razor account is one of the main reasons for this, offering ECN (Electronic Crossing Networks) spreads sourced from up to 22 banks and ECNs. This translates to extremely low forex spreads with deep liquidity, and for Australian denominated accounts, a commission of just AU $3.50 per full lot (100,000).
The spread on this account type is raw inter-bank direct pricing (raw ECN spread) starting at 0.0 (Ave: 0.16) pips for EUR/USD and starting at 0.0 (Ave: 0.27) pips for AUD/USD. The minimum trade size is 0.01 lots with a maximum trade size of 100 lots.
View our detailed Pepperstone accounts list to see the detailed breakdown of every single forex trading account Pepperstone offer.
Instruments and Trading Products
While Pepperstone was originally founded as a specialist Australian Forex broker, in recent years they have expanded to include other products. At the time of updating this review (July 2020) Pepperstone’s range of instruments, for both their Edge Razor account and Edge Standard account include:
All the above instruments are available in both MT4 and the cTrader fx trading platforms, plus on WebTrader and mobile trading apps. These trading apps provide technical analysis traders with a wide variety of charts, technical indicators and trade order options while on mobile devices.
Pepperstone Withdrawal Time Review
The Pepperstone withdrawals process is confirmed to be fast and easy!
Client money withdrawals are easily done by completing an online withdrawal form located in the secure client area. Withdrawal forms received before 21:00 GMT ( 07:00 Australian EST ) will be processed that day. However, any forms received after this time may not be processed until the following day.
As part of this Pepperstone review update, we submitted a funds withdrawal request on the 11th July 2020 at 9.58 am Australian EST to verify the procedures and withdrawal time taken.
Funds withdrawal request submitted submitted to Pepperstone on Thursday 11th July 2020 at 9.58 am Australian EST Pepperstone withdrawal time confirmation email received 1 day after the withdrawal request was submitted Pepperstone funds received in bank account 1 day after the withdrawal request was submitted
This is now the 4th time we have documented funds withdrawal timeframes as part of updating the Pepperstone withdrawal review from a live Pepperstone account to an Australian bank account. Every time we have found the process to be similar to outlined above and received the money well within the timeframes stated for funds withdrawal on their web site. There has never been any withdrawal issues encountered by us and the screen shots above confirm the withdrawal timeframes.
To get started simply follow these three easy steps:
Smart Forex Trading Tools
Pepperstone have produced a new tool that enables One Click Trading for the MetaTrader4 platform.
Pepperstone Account Funding
Huge variety of trading account funding options are available including:
Pepperstone do not charge any internal fees for deposits or withdrawals. However, please note payments to and/or from international banking institutions may attract transfer fees from either party, which are independent of Pepperstone broker.
Forex Broker Awards
In addition, Pepperstone Group Limited, simply referred to as Pepperstone, has been recognised over 20 times for excellence in FX brokerage, customer support and innovative technology. In recent years these awards include:
Pepperstone’s cTrader v MT4 Trading Platform Comparison
As discussed in the above review detail section, Pepperstone offers two of the best trading platforms currently available to traders, MetaTrader and cTrader. The comparison table above complements our pepperstone forex broker review by listing all features you will, and will not receive, depending on which FX trading account you choose.
Stuart Young has well over a decade of trading experience that he draws on in his reviews.
Experience from prior roles in a trading room and working for a brokerage firm complement his hands-on in-depth experience in the online trading industry.
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