Pepperstone Broker Review

Author By Jeffrey Cammack
Updated: April 23, 2021
Overall Rating
4.61 4.61 / 5
Rated #3 of 50 Recommended Brokers
Min. Deposit
USD 5
Regulators
Trading Desk
Trading Cost
USD 7.90
Website Language
English, Vietnamese, Thai, Chinese, Polish
Support Language
English, Vietnamese, Thai, Chinese, Polish
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.09 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, and CySEC.

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Summary

Founded in 2010, Pepperstone is a well-regulated, globally renowned ECN broker known for fast trade execution and broad trading platform support.   Its award-winning trading conditions provide the foundation for its exceptional global rankings, including some of the tightest spreads in the industry, low commissions and reasonable minimum deposits.

Traders can also choose between a number of top trading platforms, including MT4, MT5, and c-Trader and a wide selection of trading tools. Furthermore, Pepperstone does not charge any withdrawal or deposit fees and allows hedging, scalping, and copy trading.  Pepperstone provides a good selection of educational and market analysis material, but this is not translated into Malay. However, Malaysians will be pleased to note that Pepperstone offers Islamic swap-free options. As our highest-rated pure ECN broker, if you only want to pay a small commission for tight spreads, you won’t find much better than Pepperstone.

Reviews

Regulation
11110.54.5/ 5
Trading Conditions
111115/ 5
Trading Platforms
111115/ 5
Deposit & Withdrawal
111104/ 5
Education & Research
11110.54.5/ 5
Assets Available
11110.54.5/ 5
Customer Service
11110.54.5/ 5
Beginner Friendly
Excellent
Bonuses

Account Information

Base Currencies
AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD
Number of FX Pairs
80+
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Min. Spread
0.01 pips
Commission
From 7 USD / lot - Razor Account
EUR/USD
0.1 pips
GBP/USD
0.1 pips
USD/JPY
0.3 pips
Max. Leverage
500:1

Company Details

Company Name
Pepperstone Ltd
Founded
2010
Office Locations
Australia

Pros

  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets

Cons

    Is Pepperstone Safe?

    The Pepperstone brand was founded in 2010 and is headquartered in Melbourne, Australia.  Pepperstone is regulated by the UK’s Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), the Dubai Financial Services Authority (DFSA), the Capital Markets Authority (CMA) of Kenya, the Securities Commission of the Bahamas (SCB), and the Federal Financial Supervisory Authority (BaFin) of Germany. Note that while Pepperstone’s Malaysian clients are regulated by the SCB (Bahamas), their money will be held in segregated bank accounts. Furthermore, Malaysian clients are not afforded negative balance protection.  See below for a list of Pepperstone registered companies:

    • Pepperstone is ASIC regulated with licence number 414530. 
    • Pepperstone is regulated under registration number 684312 by the FCA.
    • Pepperstone Markets Limited is licensed and regulated by the Securities Commission of The Bahamas, license number SIA-F217.
    • Pepperstone EU Limited is regulated by CySEC, licence number 388/20.
    • Pepperstone is regulated by the DFSA under license number
    • Pepperstone is regulated by the CMA Kenya under licence number 128.
    • Pepperstone is regulated by BaFin, Germany, under licence number

    Pepperstone has won many awards in the industry, substantiating its credentials as a safe broker.  These include Best Tailored Professional Trading Conditions (2019) and the Best client Relationship Manager Service Award (2019) from the Professional Trader Awards.  It also won the Best Global forex ECN Broker Award 2019 (Global Forex Awards) and Best Forex Trading Support – Europe 2019 (Global Forex Awards).

    Trading Conditions

    Pepperstone offers trading on multiple assets, including over 60 Forex pairs as well as indices, commodities, share CFDs, cryptocurrencies, and currency indices.  Boasting excellent trading conditions on two live ECN accounts and an Islamic Swap-Free account, Pepperstone feeds pricing directly to its platforms from multiple liquidity providers – with no dealing desk intervention. The maximum leverage is up to 500:1, minimum deposits start at 200 USD, and minimum transactions start at 0.01 lots. Spreads start at 0.0 pips on its Razor Account, and Pepperstone allows hedging and scalping.  Pepperstone also offers full support for the MT4, MT5, and c-Trader platforms on all accounts.  Accounts can be denominated in the following base currencies: AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, and HKD.

    Account Types

    Scroll for more detailsPreviousNext
    Display Name
    Min. Deposit
    Max. Leverage
    Min. Spread
    Commission
    Razor
    USD 200
    500:1
    0.0
    AUD$ 7
    Account Details
    Standard
    USD 200
    500:1
    1
    None
    Account Details
    Swap-free
    USD 200
    500:1
    1
    None
    Account Details

    Standard Account

    This commission-free entry-level trading account has a minimum deposit of 5 USD Fees are included in the institutional-grade STP spreads, which average at 1.09 pips on the EUR/USD. 

    Razor Account

    The Razor Account is Pepperstone’s premium account.  As with the Standard Account, the minimum deposit is 5 USD.  Spreads average at 0.09 pips on the EUR/USD, and a commission of 7 USD round turn per lot is charged.  Razor Accounts are best for scalpers and algorithmic traders.

    Islamic Account

    Similar to the Razor Account with a 5 USD minimum deposit, the Islamic Account is a straight-through-processing and swap-free account.

    Demo Account

    Pepperstone offers an unlimited demo account allowing prospective traders to practice trading in real-time.  New traders can also explore the full suite of customisable tools and features that the MT4, MT5, and cTrader platforms offer to enhance trading performance. 

    Spreads and Commissions

    The average spread on the commission-free Standard Account is 1.09 pips on the EUR/USD.  Spreads are tighter on the Razor Account, averaging at 0.09 pips on the EUR/USD, and a commission of 7 USD per round turn is charged.

    Pepperstone spreads and commissions

    Deposits and Withdrawals

    A well-regulated broker, Pepperstone ensures that all Anti-Money Laundering rules and regulations are followed, and as such, all withdrawals are returned to the deposit source.  Pepperstone offers commission-free deposit and withdrawal options; however, a fee of 20 AUD is charged by Pepperstone’s banking institution for International Telegraphic Transfers; and withdrawals through Skrill or Neteller (if available) cost 1 AUD.   

    Transfers in MYR to Pepperstone’s accepted base currencies are charged at the current spot rate, minus a conversion fee of up to 1 percent. Withdrawal requests received after 21:00 (GMT) will be processed the following day. If these are received before 07:00 (AEST) they’ll be processed on the same day.  Withdrawals can take between 3 – 5 days to reach client accounts.  Pepperstone offers the following withdrawal and deposit methods:

    • Bank Wire Transfer
    • Visa
    • Mastercard
    • POLi
    • Bank transfer
    • BPay
    • PayPal
    • Neteller
    • Skrill

    Pepperstone does not charge inactivity fees for dormant accounts.

    Pepperstone Withdrawal

    Pepperstone Withdrawal Form

    Pepperstone for Beginners

    Pepperstone has an array of educational materials, in addition to webinars to help beginner traders. It also offers up-to-date market analysis materials an Economic Calendar.  Unfortunately, Pepperstone’s website is not fully translated into Malay, and neither are its market analysis and educational materials.

    Educational Material

    Pepperstone offers various educational resources, including free trading guides, articles on how to trade Forex and CFDs, various courses and videos.  Its guides cater to beginner and intermediate traders.  It also hosts regular webinars, and archives of previous webinars are available for free on its website.

    Trading guides cover topics such as ‘the Psychology of Placing Your First Trade’, Forex Trading Basics and how Forex trading works, and introductions to various trading strategies.  It also offers MetaTrader4 and Forex trading courses. 

    Webinars are only available in English, and as mentioned, all previous webinars are available in an archive. The webinar subjects vary from trading strategies to technical and fundamental analyses.  Note that to access the live webinars, one has to register a Pepperstone account.

    Pepperstone Educational materials

    Analysis Material

    The in-house Pepperstone research team runs a regular blog covering both fundamental and technical analyses. The research provides information on market-moving events outside of conventional news sources.  The research team also provides a ‘Daily Fix’, a day-to-day analysis of events affecting the markets. 

    Customer Support

    Customer support is available in 5 different languages, including English, Spanish, Portuguese, Vietnamese, and Thai, via email, telephone, and live chat. Note that support for the MT4 and MT5 platforms is available in Malay.

    Trading Platforms

    Pepperstone supports MetaTrader4 (MT4), MetaTrader5 (MT5), C-Trader, and the associated web and mobile applications. 

    MetaTrader4

    The MT4 trading platform is the most widely used Forex trading platform and can also be used to trade other instruments like commodities, cryptocurrency, stock index, and stock CFDs.  Features of the MT4 platform include:

    • Customisation of the platform to a trader’s style.
    • Building and running EAs using MetaQuotes Language 4 (MQL4).
    • Access to 28 indicators and EAs.
    • 85 pre-installed indicators available on the desktop app for greater insight into market trends.
    • Access to 50 technical tools, multiple chart types, and 9 timeframes.

    Pepperstone MT4

    MetaTrader 5

    The MT5 trading platform is being adopted by more Forex brokers all the time; it has a more modern interface, allows for an unlimited number of charts to be used, shows Depth of Market, and has a built-in Economic Calendar. It also has a larger number of pending order types than MT4 and features an embedded chat system. Additionally, the MQL5 scripting language is more efficient than its precursor, and MT5 has more advanced charting tools than MT4.  Other features of MT5 include:

    • Optimised processing speeds.
    • Ability to hedge positions.
    • 21 timeframes.
    • 38 inbuilt indicators.
    • Compatibility with Pepperstone’s Autochartist and Smart Trader tools packages.

    Pepperstone provides a selection of user guides and videos on how to set up the various platforms.

    Pepperstone MT5

    C-Trader

    CTrader is an intuitive and easy-to-use platform with advanced trading capabilities, such as fast entry and execution and coding customisation.  It also provides plenty of education and analysis materials to help traders make better decisions. Key features of the CTrader platform include:

    • Detailed trade analysis features.
    • Large range of indicators.
    • The ability to add multiple take-profit orders.
    • Comprehensive educational videos are available within the platform.

    Unfortunately, support for the CTrader platform is not available in Malay. Still, Pepperstone provides a range of helpful videos to help traders make the most of the c-Trader platform.

    Pepperstone c-Trader

    Trading Tools

    Smart Trader Tools for MetaTrader4/5

    Traders benefit from 28 tools, expert advisors, and various indicators.  Smart trader tools help traders manage risk, control all trades from a single terminal and master the ability to trade non-correlated currency pairs.  The full set of tools includes sophisticated alarms and broadcast facilities, with up-to-date market data and functions integrated within the MetaTrader interfaces

    Autochartist

    A powerful scanner that removes the market noise and helps traders focus on trading opportunities that matter.  It highlights the currency pairs, data intervals, and technical indicators that signify key market events.  The market scanner provides statistically significant market movements and identifies important price levels that are catalysts for market movements.

    API Trading

    Pepperstone supports trading via its Application Programming Interface (API).  This technology is ideal for those using trading systems or developing their own custom-built system.  It allows an increased ability to see the depth of market and access to multiple liquidity providers.

    Evaluation Method

    We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Pepperstone offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker, and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

    Pepperstone’s Risk Statement

    Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Pepperstone would like you to know that: Trading CFDs and FX is risky. It isn’t suitable for everyone, and you could lose substantially more than your initial investment. You don’t own or have rights in the underlying assets. Past performance is no indication of future performance, and tax laws are subject to change. The information on this website is general in nature and doesn’t take into account your or your client’s personal objectives, financial circumstances, or needs.

    Overview

    Pepperstone is a solid Forex trading company that provides first-rate customer service and offers support for multiple trading platforms and trading tools. With a good education and market analysis section, and excellent trading conditions, Pepperstone should be a top choice for Forex trading.  Malaysians should note that while trading funds are segregated from company operational capital, automatic negative balance protection is not provided. 

    AlertAccepts Malaysian Clients. Average spread EUR/USD 0.09 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, and CySEC.
  • Vic says:

    Can i found a pepperstone account with paypal?

  • Max says:

    Can I withdraw to my paypal account?

    • Chris Cammack says:

      Hi Max, it’s best to get in touch with Pepperstone customer support for the answer to your question. Most brokers will allow you to withdraw a maximum of the amount deposited via Paypal (or other online payment services) and only if you used Paypal to make your initial deposit.

  • Scroll for more detailsPreviousNext
    Overall Rating
    Min. Deposit
    Regulation
    Trading Desk Type
    Trading Instruments
    Forex Pairs
    Crypto Pairs
    Pros
    Cons
    Regulation
    Trading Conditions
    Trading Platforms
    Deposit & Withdrawal
    Education & Research
    Assets Available
    Customer Service
    % Lose with this broker
    Leverage
    Spread
    Hedging
    Scalping
    Account Types
    Islamic Account
    Trading Platforms
    Funding Methods
    Trading Commission
    11110.54.61/ 5
    USD 5
    ECN/DMA
    Commodities
    Cryptocurrencies
    Forex
    Indicies
    Metals
    Energies
    80+
    5
    • Well regulated
    • Tight spreads
    • Great platform choice
    • Wide range of assets
      11110.54.5/ 5
      111115/ 5
      111115/ 5
      111104/ 5
      11110.54.5/ 5
      11110.54.5/ 5
      11110.54.5/ 5
      79.3% of retail investor accounts lose money when trading CFDs with this provider
      500:1
      0.01 pips
      Razor
      Standard
      Swap-free
      Neteller
      BPay
      POLi
      From 7 USD / lot - Razor Account
      1110.503.32/ 5
      USD 150
      ECN/DMA
      Commodities
      Forex
      Equities
      110
      11
      • Wide range of assets
      • Copy trading accounts
      • Limited market analysis
      • Limited education
      • Wide spreads
      1110.503.5/ 5
      110002/ 5
      111104/ 5
      111104/ 5
      111003/ 5
      1110.503.5/ 5
      111104/ 5
      71.71% of retail investor accounts lose money when trading CFDs with this provider
      1000:1
      0 pips
      Cent.Eurica
      Cent.Standard
      Insta.Eurica
      Insta.Standard
      Islamic
      Bank Transfer
      Visa
      Mastercard
      Skrill
      Neteller
      Bitcoin
      Unionpay
      Broker to Broker
      Fees Included in Spread
      1110.503.64/ 5
      USD 500
      ECN/DMA
      Commodities
      Forex
      Equities
      63
      4
      • Tight spreads
      • High minimum deposit
      • Limited education
      • Limited market analysis
      • Expensive withdrawals
      1110.503.5/ 5
      1110.503.5/ 5
      111104/ 5
      111003/ 5
      111003/ 5
      11110.54.5/ 5
      111104/ 5
      73.6% of retail investor accounts lose money when trading CFDs with this provider
      500:1
      0 pips
      Advanced Mark-Up
      Advanced RAW
      Basic
      Institutional
      Premium Mark-up
      Premium RAW
      Standard
      Sirix
      Bank Transfer
      Mastercard
      Skrill
      Neteller
      Fees Included in Spread
      Visit Broker
      AlertMost retail CFD accounts lose money. Your capital is at risk.

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