Pepperstone Review

  • Leverage: 1:30 to 1:400

  • Regulation: ASIC, FCA, DFSA, SCB, CMA, CySEC, BaFIN

  • Min. Deposit: 200 US$

  • HQ: Australia

  • Platforms: MT4, MT5, cTrader, TradingView

  • Found in: 2010

Pepperstone Licenses

  • Pepperstone Limited - authorized by FCA (UK) registration no. 684312 
  • Pepperstone Group Limited - authorized by ASIC (Australia) registration no. ACN 147 055 703AFSL 414530 
  • Pepperstone Markets Limited - authorized by SCB (Bahamas) License number SIA-F217
  • Pepperstone Markets Kenya Limited - authorized by CMA Licence No.128
  • Pepperstone EU Limited - authorized by CySEC (Cyprus) registration no. 388/20
  • Pepperstone GmbH - authorized by BaFin (Germany) registration number 151148
  • Pepperstone Financial Services (DIFC) Limited - authorized by DFSA (Dubai) license number F004356
  1. What is Pepperstone?
  2. Pepperstone Pros and Cons
  3. Is Pepperstone safe or a scam?
  4. Leverage
  5. Accounts
  6. Instruments
  7. Fees
  8. Spreads
  9. Deposits and Withdrawals
  10. Trading Platform
  11. Customer Support
  12. Education
  13. Conclusion

Our Review Method

  • 55Brokers Financial Experts with over 10 years experience in Forex Trading check trading offering, fees, platforms, verified regulations, contacted customer service and placed traders to see trading conditions and give expert opinion about Pepperstone

What is Pepperstone?

Pepperstone is a large and poopular international Forex Broker, wholly-owned subsidiary of Pepperstone Group Limited, an Australian-based company established in 2010, which has quickly grown into one of the largest Forex and CFD worldwide providers.

Also, the broker constantly developing its proposal and getting licenses, alike Pepperstone Limited was launched in the UK in 2015 while expanding its services to cover the needs of UK and European clients through local access. Overall, the group serves offices in major financial destinations Melbourne, Dubai, Limassol, Nassau, Nairobi, Dusseldorf and London.

What type of broker is Pepperstone?

Pepperstone was originally founded as a specialist forex broker providing access to interbank execution and low spread pricing. However, further on Pepperstone established assistance service for both retail and institutional traders through low-cost pricing by the multiple direct destinations of liquidity, without a deal desk and became execution-only broker.

Pepperstone Pros and Cons

Pepperstone is a reliable broker with top-tier licensed FCA and ASIC, while the account opening is fully digital and trading environment is one of the best reviewed by us Australian offering with NDD accounts. There is powerful research and trading tools available, range of platform is great, also education section is excellent quality with good responsive support.

For the Cons there are not so many with our opinion, just some minor things like no 24/7 support and demo account available for 30 days only, also instruments are limited to Forex and CFDs. Besides conditions vary based on entity and its applicable regulatory standards.

AdvantagesDisadvantages
Multiply regulated broker with a strong establishmentOnly Forex and CFDs
Good reputationNo 24/7 support
Wide range of trading platformsDemo Account valid for 30 days
Global expand including Australia, Asia, MENA, Africa regions and EuropeConditions vary based on entity
Great technical solution, tools. platforms
Low Spreads
Competitive trading conditions

Pepperstone - official website

Pepperstone Review Summary in 10 Points
🏢 HeadquartersAustralia
🗺️ RegulationASIC, FCA, DFSA, SCB, CMA, CySEC, BaFIN
🖥 PlatformsMT4, MT5, cTrader, TradingView
📉 InstrumentsCFD's on equties, indices, shares, commodities, energy, metal and cryptocurrency
💰 EUR/USD Spread0.77 pips
🎮 Demo AccountAvailable
💳 Minimum deposit200$
💰 Base currenciesAUS, USD, SGD, HKD, JPY, NZD, EUR, CHF and GBP
📚 EducationProvided, research tools included
☎ Customer Support24/5

Overall Pepperstone Ranking

Based on our Expert finds and review Pepperstone is considered good broker with reliable service and very favorable trading conditions, that are suitable for beginners or experienced traders. As one of the good advantages, Pepperstone covers almost all globe, so traders from various countries can sign in, also with lowest spreads.

  • Pepperstone Overall Ranking is 9 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.
RankingPepperstoneXMAvaTrade
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
AdvantagesPlatformsLow DepositTrading Conditions

Pepperstone Alternative Brokers

However, Pepperstone instrument offering mainly limited to Forex and CFDs, also international entity provides different trading conditions and range.  Even though, spreads, platforms and education are really good at Pepperstone is good to consider other brokers too, see our selection of Alternative Brokers below:

Awards

Since Pepperstone strives to propose the best options to traders community, in fact it was recognized by numerous awards for its strives, which the broker received regularly along with the great reviews from traders themselves. Also, we see ourselves evolvement of the broker along time, while more instruments and better quality tools are constantly added on, also before Pepperstone was only Australia broker now it covers almost all globe, which is a great plus overall.

  • #1 Overall Client Satisfaction | #1 Value for Money | #1 Execution Speed | #1 Spreads | #1 Platform Reliability | #1 Platform Ease of Use | #1 Commissions | Investment Trends

Pepperstone Reviews Awards

Is Pepperstone safe or scam?

No, Pepperstone is not a scam, it is a reliable established Australian broker that complied its operation according to the respected regulation by the Australian Securities and Investments Commission (ASIC), as well as the holder of an Australian Financial Services Licence proving low-risk Forex.

Is Pepperstone legit?

Yes, Pepperstone is legit and regulated broker. In addition, Pepperstone holds relevant authorization at every region it operates. Therefore, clients’ residents of the UK and EEA are processed by Pepperstone Limited that is a registered UK company and regulated by the Financial Conduct Authority.

  • In addition, Pepperstone addiing on licenses constanly alike in 2020 acquire CySEC license as well, so that the EU clients are fully covered under its legislation. It also, add on BaFIN license at the end of the month securing German markets likewise. Read more on the News tag.
  • MENA region and clients from Dubai are also authorized to legit and regulated Forex trading opportunities since the broker is authorized by the DFSA. In addition, with continuous expand Pepperstone established an entity in Kenya while regulated by CMA so the African region is covered as well.

See our conclusion on Pepperstone Reliability:

  • Our Ranked Pepperstone Trust Score is 9 out 0f 10 for good reputation and service along the years, also reliable top-tier licenses and serving regulated entityt in each region it operates. The only point is International trading available via the offshore entity.
Pepperstone Strong PointsPepperstone Weak Points
Multiply regulated broker with a strong establishmentRegulatory standards and protection vary based on entity
Regulated by ASIC and FCA
Multiple licenses in various regions
Global expands including Asia, MENA, Africa regions
Negative Balance protection

How are you protected?

The above regulators strictly oblige the broker to follow the required performance, while both ASIC and FCA demand financial services firms follow strict capital requirements, fully segregate traders’ accounts from the company funds, comply to internal risk management, training, accounting, audits and many more. In addition, the company provides Negative Balance protection and an automated Risk Management System to secure clients’ safe trade.

Pepperstone Review License

Leverage

In regards to the traders from Europe or those which account are registered with Pepperstone UK, as the European ESMA regulation recently lowered the maximum allowed leverage with a security purpose.

  • The maximum leverage level for European clients is 1:30 on Forex instruments.
  • However, leverage levels depend by the entity rules, alike international offering Pepperstone still includes leverage of 1:500 or for Professional clients available on each entity.

Yet, make sure to learn deeply about leverage and how to use it smartly, as an increase of your trading size may play a significant role in your either potential income or looses as well.

Account types

Pepperstone accounts offers two main account types, with the same quality performance, support and comprehensive platform’s features. See some of our notes about Pepperstone accounts below:

ProsCons
Fast digital account openingAccount types and proposal may vary according to jurisdiction
Demo Account free use for 30 days
The proposal between Accounts based on spread only or based on commission
Low minimum deposit

How to open Pepperstone live account?

Opening account with Pepperstone is quite easy, you just need to follow the steps of account open, verify your details and select the account type of your preference, also with ability to switch between Demo and Live Trading modes.

  • While beginning traders or non-professionals can sign for a Standard Account, a classical type on no commission basis and institutional grade STP spreads from 0.6 pips available in the MT4 platform.
  • A choice for professional traders who prefer to pay commission instead of spread consistent in Razor Accountcommission from 3.5$ and spread from 0.0 pip, while leverage is flexible along with advanced algorithms for execution speed.

Also, with its global reach Pepperstone offers traders following Sharia rules may sign for a SWAP Free Account with STP spreads with 0 commission. Besides, we found some other attractive opportunities like Pepperstone is a PAMM Account forex broker, also suitable for copy trading or investments.

Pepperstone accounts

Active Trader Reward Program

Active traders with high volume or institutional traders may access Active Trader Program specialized specifications with spreads from 0.0 pips, advanced reporting and dedicated manager, as well as VPS hosting service, custom solutions like API, FX GUI also some rebate program too.

Trading Instruments

The markets or instrument offering includes CFDs on 70+currency pairs, Cryptocurrencies (with access to trade Bitcoin, Bitcoin Cash, Ethereum, Dash and Litecoin against the US Dollar), metals, commodities as well a range of major indices across the multiple broker’s platforms.

  • Pepperstone Markets Range Score is 8 out 0f 10 for wide trading instrument selection, yet the only gap European entity offers mainly CFDs and Forex Instruments, and wider range is only available for International Clients

Can I trade Crypto with Pepperstone?

Yes you can trade Cryptocurrencies on Pepperstone platform, besides conditions are very attractive and range is good withh our opinion.

Yet note, that instruments may vary depending on jurisdiction (e.g. Crypto CFDs are not available under CMA or FCA UK entitites).

Pepperstone Review Spread

Pepperstone Fees

Pepperstone pricing are either built into a spread or a commission basis, with  a choice of the account type, also prices and quotes are provided by multiple liquidity providers as we found on our research. Therefore you definitely get very competitive pricing, while Pepperstone spread considered to be among the industry lowest spreads.

  • Pepperstone Fees are ranked low with overall rating 9 out of 10 based on our testing and compared to over 500 other brokers. Fees might be different based on entity offering, see our finds of fees and pricing in the table below, however Pepperstone overall fees are considered good.
FeesPepperstone FeesXM FeesAvaTrade Fees
Deposit FeeNoNoNo
Withdrawal FeeNoNoNo
Inactivity FeeNoYesYes
Fee rankingLowAverageHigh

Spreads

Pepperstone spread are different on on Standard or Razor accounts, where e.g. EUR/USD minimum spread starting from 0 pips and most often averages on 0.17-0.77 pips which is considered very good proposal compared to other brokers. Cryptocurrency costs are also good, where Bitcoin spreads are from $10, Ethereum $4 and Litecoin spread is $3.

What is Pepperstone commission?

The commission fee is added on Pepperstone Razor Accounts only, since you will be trading with interbank spread quotes starting from 0 pips and commission charges are added as a trading fee. Pepperstone applies transparent conditions and a quite competitive offering of $3.5 per lot per 100,000 USD traded.

For the most accurate data, however, check the official Pepperstone website or platform, also check out and compare fees with another popular broker HotForex and see our comparison table below.

  • Pepperstone Spreads are ranked low with overall rating 9 out of 10 based on our testing comparison to other brokers. We found Forex spread much lower than the industry average of 1.2 pips for EURUSD, and spreads for other instruments are very attractive too

Asset/ PairPepperstone SpreadXM SpreadAvaTrade Spread
EUR USD Spread0.77 pips1.6 pips1.3 pips
Crude Oil WTI Spread2.3 pips5 pips3 pips
Gold Spread0.133540
BTC USD Spread31.39600.75%

Deposits and Withdrawals

Pepperstone enables clients to fund an account with ease throughout client area, as well to choose account currency that includes AUD, USD, EUR, CAD, GBP, CHF, JPY, NZD, CAD, SGD and HKD. Which is definitely great selection, in simple words means you can skip the exchange fees and may benefit from trading in your local currency.

  • Pepperstone Funding Methods we ranked Excellent with overall rating 8 out of 10. Minimum deposit is among average in industry, yet Fees are either none or very small also allowing to benefit from various account based currencies, yet deposit options vary on each entity

Here are some good and negative points for Pepperstone funding methods found:

Pepperstone AdvantagePepperstone Disadvantage
Fast digital deposits, including Neteller, and Credit CardsMethods and fees vary in each entity
200$ is a first deposit
Multiple Account Base Currencies
0$ deposits and free withdrawals
Withdrawal requests confirmed 12-24 hours

Deposit Options

In terms of funding methods, Pepperstone offers numerous payment methods which is very good plus, yet check according to its regulation whether the method is available or not.

  • Bank Wire,
  • Credit/Debit cards,
  • Skrill,
  • Local Bank Deposit,
  • Neteller,
  • Bpay,
  • Union Pay
  • PayPal
  • MPESA

Pepperstone Minimum deposit

The Pepperstone minimum deposit amount is 200$ for any account type of your choice.

HYCM minimum deposit vs other brokers

HYCM Most Other Brokers
Minimum Deposit $100 $500

Does Pepperstone accept MPESA?

Yes, MPESA payment method is among the accepted list in Pepperstone as we found it out.

Pepperstone Withdrawals

Pepperstone does not charge any internal fees for deposits or withdrawals, traders can use various withdrawal options including Cards, ewallets and Bank transfers, however international bank institutions may attract fees from either party which will be referred to the client.

How Withdraw money from Pepperstone step by step:

  1. Login to your account
  2. Select on Withdraw Funds’ at the menu tab
  3. Enter the withdrawn amount
  4. Choose the withdrawal method
  5. Complete the electronic request with necessary requirements
  6. Confirm withdrawal information and Submit
  7. Check the current status of withdrawal through your Dashboard

Pepperstone Review Withdrawal

Trading Platforms

Pepperstone’s trading technology and software provides great performance also with additional included tools and options enhancing its technical solution. Overall, we found 11 Pepperstone trading platforms offering MT4 or its new version MT5, TradingView and cTrader on various versions so you truly can gain powerful trading solution, suitable to your own way of strategy or output since all trading styles are supported.

  • Pepperstone Platform are ranked Excellent with overall rating 10 out of 10 compared to over 500 other brokers. We mark it as excellent being one of the best proposals we saw in industry, and a great range including MT4, MT5, cTrader suitiable for professional futures trading and TradingView. Also, all provided with good research and excellent tools
Trading Platform Comparison to Other Brokers:
PlatformsPepperstone PlatformsPlus500 PlatformsXM Platforms
MT4YesNoYes
MT5YesNoYes
cTraderYesNoNo
Own PlatformYesYesYes
Mobile AppsYesYesYes

Web Trading Platform

If you prefer trading on Web without instalation, the popular choice of MetaTrader4 supports various devices from the web, desktop or mobile applications all at your choice. As well the platform offers a rich, user-friendly interface and hosts order management tools, indicators, expert advisors, DDE protocols and many more.

In addition, Pepperstone enhanced platform with Smart Trader Tools, a package with over 10 smart apps that makes trading more efficient.

Desktop Platform

The fans of cTrader Platform are welcomed also, as software believed to be one the most innovative and revolutionary trading platforms available through the Desktop version. As the platform based on an algorithmic logic it shows great performance and allows efficient position management in fast moving markets.

  • Where we admit great combination of Pepperstone’s liquidity and robust infrastructure of cTrader provides great productivity. See look and feel snapshot below.
  • Besides, Pepperstone enhances trading options with social trading capabilities so you will be able to use industry-popular ZuluTrade and its copy trading performance.
  • Pepperstone also is an active partner of Equinix that creates a state of art Forex trading infrastructure
  • Key cTrader’s component is cAlgo, which is designed to be a powerful tool with robots and indicators developed on C# for intuitive functionality suitable and actually great for API Trading

Pepperstone platfrom

Customer Support

Another point to admit is awarded support provided by Pepperstone. Their commitment to the client’s satisfaction includes 24 hour live chat facility and support available n various languages including some less popular languages, full self-service Secure Client Area for account management, as well as real time news feeds with education resources and market commentary.

  • Customer Support in Pepperstone is ranked Excellent with overall rating 9 out of 10 based on our testing. We got some of the fastest and most knowledgeable responses compared too other brokers,  also quite easy to reach during the working days

See our find and Ranking on Customer Service Quality:

ProsCons
Quick responseNo 24/7 customer support
Relevant answers
Supporting numerous languages
Availability of Live Chat

Pepperstone Education

As for the education and traders resources, you would find an Education and Analysis center developed by Pepperstone, where trading videos, Webinars and numerous research tools available for all.

-What is also great there are trading ideas and social trading capabilities, also analysis and fundamental data powered by leading providers like Trading Central.

-Together with trading platform capabilities there are additional research included too like Autochartist, and regularly updated from the broker’s in-house analyst, which we ranked as excellent for its quality.

  • Pepperstone Education ranked with overall rating 10 out of 10 based on our research. Pepperstone provides very good quality Education Materials, excellent research, also cooperates with market leading providers of data, and provides free Webinars, Excellent Trading videos and Analysis

Pepperstone education

Pepperstone Review Conclusion

Out final thoughts about Pepperstone are very positive, as a regulated broker Pepperstone delivers a reliable trading solution. What we liked the most is the broker’s trade execution that starts from 50ms of latency, settled immediately, with no delays, rejects, or requotes, and of course fantastic, very competitive pricing model with low fees. Also, technical solution and platform selection is one of the best we saw in industry compared to other. Overall making Pepperstone trully competitive in almost each of its aspects.

Based on Our findings and Financial Expert Opinion Pepperstone is Good for:

  • Beginning Traders
  • Professional Traders
  • Algorithmic or API Traders
  • EAs running
  • Copy Trading
  • Scalping / Hedging Startegies
  • Traders who prefer MT4 or MT5 platform
  • For cTrader Platform and TradingView Platform use
  • Currency Trading and CFD Trading
  • Suitable for a Variety of Trading Strategies
  • Traders who look for Autochartist and Trading Central Research included
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21 responses to “Pepperstone”

  1. I went to open open an account with them. I have submitted all the details as requested by them. It took 2 weeks for them to create an account. Afterwards i did a bank transfer to their account. 2 weeks and Pepperstone didn’t acknowledge the transfer instead they told me to follow up with my bank which a British bank. Another one week passed and they came to me and said the they won’t accept the transfer from certain countries. If that is the case
    A. They should have written on their website.
    B. Their customer reps shouldn’t have waited this long to inform me. Clearly they themselves are not aware of their own regulations and they wasted my time asking me to submit documents every time i reach them for the transfer deposit.
    C. In the end , they simply said they won’t accept money from certain bank/countries.
    I had to cancel the transfer and it costed me $100 fee for nothing.
    If this the kind of support you get, you better off not trading with them because they don’t know what they are doing.
    Please educate your support people so your client won’t loose money for nothing.

  2. Yes, fees are charged for withdrawals, $ 20 for bank transfers, and $ 1 for neteller and skrill, I don’t use other means of payment, I’m testing the broker, executions are very fast, and the spread is very competitive, the problem is the issue of withdrawals , I realized some I don’t have much to say for now.

  3. I have been a client for 04 years and I no longer recommend Peperstone. I had unresolved issues, and support emails do not respond.

  4. Hi.. Is this a trading company for Europeans only or for all parts of the world? I hope to have a trading balance with you

  5. B”H

    I forcefully disagree with your conclusion and statement about Pepperstone:
    “Out final thoughts about Pepperstone are very positive, as a regulated broker Pepperstone delivers a reliable trading solution.” I regretfully state that unfortunately, they are NOT reliable nor trustworthy.
    I opened an account with them but in the end, it did not work out. They were supposed to send the funds back within 3 business days but it’s three weeks later on 6/12/2022 and no funds were received.
    The person in the funding department who is supposedly “taking care” is sending me back and forth with creative excuses time and time again.
    In my case, they are NOT returning my fund’s amount of around USD 17,000 after repeated requests and pleas.
    I have it documented and I’ll gladly share it with you if requested.

  6. I am looking for a broker that supports MetaTrader five. I plan to trade using using Galileo, BOT and other trading capabilities.

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