Pepperstone Broker Detailed Review

Is Pepperstone Safe?

Pepperstone is a good match for Australians because the broker is ASIC regulated with License #414530.   Segregated client trust accounts with the National Australia Bank keep client’s trading funds safe, and continuous compliance training is required for all staff to meet the high internal standards.  Additionally, Pepperstone is also regulated under registration number 684312 by the FCA.

Account Types

Pepperstone as four account types for the traders.

Demo Account

Creating a demo account is easy.  Inside the client area select (see above) select the Request new Demo Account and complete the form as shown below.  This account will automatically close after 30 days, at which point you can open another should you need.

Standard Account

The standard account is the Pepperstone classic account which offers Interbank spreads and competitive liquidity with no commission on the trades.  Use your MT4 account on this account, get negative balance protection and even electronic assistance with risk management.  The standard account is a rock-solid foundation with few additional frills.

Razor Account

The razor account is the more premium of them, where Pepperstone demonstrates transparency by making the cost of every trade available to you.  With this account and a minimum deposit of $200, you get even tighter spreads from deeper liquidy centres, while being allowed EAs, hedging, and scalping.

Islamic Account

Very similar in setup to the Razor account with a $200 minimum deposit this account is a straight-through-processing and swap-free account.

How to Open An Account

From the overview screen, select Request New Live Account, and then which platform, account type (see above) and leverage you would like to have for your account.

Trading Platforms

The two most popular trading platforms are available at Pepperstone.

• MetaTrader4 is easy to use and has chart features and executes trades very quickly.  MetaTrader4 is the gold standard of Forex trading software that is compatible with most ECN/STP brokers.
• cTrader is used mainly by the more advanced Forex trader on day trades and using expert strategies.

The speed of the transactions is due to Pepperstone having a direct fibre optic link to Equinox, just 18 km from Wall Street.

Spreads and Leverage

Leverage is one of the highest on the market at 500:1 and spreads can be as low as 0.1 pips when dealing with USD/EUR in the Razon account.  The spreads might even go to 0 when there is more liquidity in the market and access to capital.

Deposits and Withdrawals

Accounts can be funded with all major credit cards. Withdrawals by Australians into Australian banks is a smooth and speedy operation, as is with credit cards.

Deposits

Select an account, select the funding method and the amount.

Once you have set up a default payment method, the quick deposit option becomes available.  Again, select the trading account you wish to fund, choose the payment method and then the amount.

Withdrawals

Withdrawing should be quick and easy.  This functionality is the test of a good broker.  Different options are offered each with a different ETA time for the funds to land in your account.

Customer Support

Pepperstone is a relatively new player in the Forex game compared to most other brokers, but it has worked hard to build an excellent reputation through good support.  24-hour email and phone assistance are available from any of the London, Melbourne, Shanghai, Dallas and Bangkok offices.

Conclusion

Pepperstone is a solid Forex trading company that provides top customer service, with great technology and with trading conditions that are hard to beat.  If you want an Australian ASIC-regulated broker, Pepperstone is a strong competitor.

Most retail CFD accounts lose money. Your capital is at risk.