Author: Ben Morratt
Portfolio Manager
Ben Morratt

Pepperstone Review

Summary

There are many reasons why Pepperstone is an excellent choice for Forex traders looking for a well-rounded experience. Their customer support is good, and they offer a selection of popular platforms. There is a free demo account complete with software to try before you buy. When trading with Pepperstone, you can be confident that with their FCA and ASICS licencing and regulation that your money is in safe hands.

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Risk Warning / Ad Disclosure

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Our Expert Rating
Accounts
9.0
Trades
10.0
Bonuses
10.0
Mobile
9.4
Banking
9.6
Features
9.8
Support
9.2

Introduction

Introduction

Established in Melbourne, Australia in 2010, Pepperstone Group Limited quickly became one of the world's largest Forex and CFD traders. In 2016, their UK entity was launched to provide UK and European clients local access to their Forex trading services. Licensed and regulated in the UK and Australia, their platform is built on award-winning software and offers 59 currency pairs.

Pepperstone was created by experienced traders for traders. With a well-reputed customer service offering, they are committed to providing the kind of trading that you would expect from a quality broker. There are two different types of Forex account with the addition of a free demo for those that want to try them out before depositing funds.

In order for you to decide if this is the broker for you, our team are well educated traders who know what to look for. They test all aspects of Forex trading to ensure that the information we provide helps you to make an informed decision. The detail in the following review is designed to enhance your Forex experience.

In this review, you will learn:

  • The various account types available to traders
  • Special trading features offered by the broker
  • The kind of mobile experience you can expect
Pepperstone Screenshot Pepperstone Screenshot Pepperstone Screenshot
Risk Warning / Ad Disclosure

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Account Types

9.0
Account Types

Opening an account is easy and can be done in 10-15 minutes but it can take a few days to have your application approved. Some report as many as 4-5 days. There are two main types of account, one aimed at the new trader and one for those with more experience who trade more regularly.

In order to use the site, you need to enter an email address and create a password before you proceed to completing your personal information. You will then be asked to fill in a trade expertise survey before uploading your identification documents.

Standard Account

The standard account does not have a minimum deposit requirement although you will need to deposit funds in order to trade. This account is recommended for beginners that are new to the world of Forex trading. You do not pay a commission, however the spreads available are not as good as they are with a Razor account at an average of 1-1.8.

Razor Account

For the more experienced trader, the Razor account, requires a deposit of $200. The spreads are much more favourable however and you will benefit from average spreads of 0-0.8% but you will pay a commission. The Razor is more suited to those who trade more regularly with higher volume lots.

Demo Account

The demo account is free to open and you can simply go to the demo account registration, enter your details and start the set up. You will then need to complete the application process in the Secure Client Area. If you click on the download area, you can then download MT4 or cTrader. Use this platform to get familiar with the site and trading, practising strategies and techniques.

Supported Languages
English

Trade Features And Payouts

10.0
Trade Features And Payouts

The trade features and payouts of a broker are the deciding factor for many when making the decision as to whether to choose a particular broker. The main features to consider are the spreads offered, what leverage is available and the types of tools to assist you with your trading.

Leverage

Leverage for retail clients ranges from 2:1 and 30:1 and varied depending on the instrument. What this means is that when trading with $1,000, this can be leveraged to increase the trade amount to between $2,000 and $30,000.

If you are a professional client then leverage of up to 500:1 can be enjoyed. It is a great way to multiply your funds and to increase your profits but just as you can win large amounts, you can also lose.

Spreads

The spreads available depend on whether you have a Standard or Razor account you have. With the standard version, the spreads aren't as good but you don't pay commission. With the Razor, you can enjoy greater spreads but you will pay a commission. Needless to say, despite this you can still enjoy greater profits on the spreads with a Razor account.

Stop Loss

The Stop Loss order is important for those who want to limit their exposure and close a position when the price of the trade starts to head in the wrong direction. It is set at a pre-determined position that, once reached, means the position will close. In addition to this type of order, there is also the trailing stop which moves with the trade as the price fluctuates.

Platform Types

Trading is available on the popular MetaTrader 4 and MetaTrader 5 platforms as well as the cTrader platform, WebTrader and mobile. There is no proprietary software however they do have a proprietary client area. Whether you wish to trade on the move or from a desktop, the platform offers intuitive execution with everything you need to enjoy a positive experience.

Pepperstone Group Limited quickly became one of the world's largest Forex and CFD traders.

Bonuses And Promotions

10.0
Bonuses And Promotions

It would seem from our research that from time to time, the site offers a first deposit bonus however, at the time of writing this (Jan 2019), there were no welcome bonuses available. There are refer-a-friend incentives of $100.

In order for you to receive the bonus (which is not limited to just one referral), the friend must make a deposit and trade a certain number of lots. You will then be rewarded with a bonus of $100 in your trading account.

Mobile Trading

9.4
Mobile Trading

For those who prefer to trade on the go, which will be many of you, mobile trading is available via an app on iOS and Android on both smartphones or tablet devices. Download either the MT4 or the cTrader app and enjoy a great experience from either app.

In the absence of any proprietary software, the platform is similar to that of other popular brokers, all who use the same Forex software. Charts, trading and alerts are all available in addition to Forex and CFDs.

Expert Reviews

Deposits And Withdrawals

9.6
Deposits And Withdrawals

There are many ways in which to fund your account including Verified by Visa, credit and debit card and Neteller as well as other e-wallets and bank transfer, although some of the less popular methods of depositing funds may be subject to a transaction fee. When making a withdrawal, as long as it is made before 21:00GMT, it will be processed that day.

When making a withdrawal to a credit card, you must only withdraw the amount you deposited using the same card. Any other amount needs to be withdrawn to an alternative source which must be in the same name as your Forex account.

Special Features

9.8
Special Features

For regular, high volume traders using a Razor account there is actually an Active Trader programme which offers rebates starting from $1 per lot. If you are trading anywhere between 200 and 500 lots a month, this equates to a rebate of $200-$500. Other special features include the sheer number of platforms that you can choose with an extensive choice of 11 in total (including mobile apps).

There is also a specific Client Resources section which is built on proprietary software and includes lots of useful educational information.

Customer Support

9.2
Customer Support

Pepperstone have an award-winning customer support offering. They offer 24-hour live chat, 24-hour phone support and a general enquiries e-mail support address. The location of their offices is also highly visible and they use maps on their contact page to show you where their London and Melbourne offices are.

When reading information from various sources, it is clear to see that their customer service is well reputed and that they offer a personalised and efficient service to their clients.

Here are the contact details for Pepperstone:

  • Email - support@pepperstone.com
  • Phone - +61 039 020 0155
  • Address - Pepperstone Ltd, 68 Hanbury Street, London, E1 5JL, UNITED KINGDOM

Conclusion

9.6
Conclusion

There are many reasons why Pepperstone are a good choice for both new and established Forex traders looking for a well-rounded trading experience. They tailor their accounts to both beginners, that are new to the world of Forex, and those that are more accomplished and they offer different benefit to both sets of clients. Their customer support offering is good and they offer a choice of popular platforms.

There is a free demo account complete with software to try before you buy. When trading with Pepperstone, you can be confident that with their FCA and ASICS licencing and regulation that your money is in safe hands. We have no problem in recommending this particular broker to give you a good all-round Forex trading experience.

Risk Warning / Ad Disclosure

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Frequently Asked Questions

FAQ

Is Pepperstone legit, will they scam me?

With regulation in their operating countries of Australia and the UK, Pepperstone provides great customer service and is a reliable broker to trade with.

Do they have a decent mobile or tablet app?

You can choose from MT4 or cTrader when downloading an app on either iOS or Android. Whether you have a mobile phone or a tablet, you can trade on the move.

What bonus do they offer for new traders?

At the time of this review, there is no welcome bonus for new clients however there is a refer a friend scheme which is not limited to any number of referrals.

Can I start trading on a free demo account?

It is easy to register and sign up to the free demo account on Pepperstone which allows you to try the platform, strategies and techniques before depositing funds.

What's the min. deposit and ideal trade amount?

The deposit requirement depends on which type of account you open. There is no deposit with the Standard but the Razor requires a minimum amount of $200.

Meet The Author
Ben Morratt
Ben Morratt
Portfolio Manager

Ben’s contributions as a freelancer to the site since 2013 are highly valued. He has a real talent particularly within short-term speculation, making many successful trades on the directions of the global financial markets. Learn more.

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