Pepperstone Broker Review - An established broker with great safety features

pepperstone.com
Best trading platforms
Writer
Written by:
Calendar
Written on:
25 June 2022
Date
Last edit:
4 February 2023
Our rating:
4.1

4.1

User rating:
7.75

7.75

Pepperstone Broker Review - An established broker with great safety features

pepperstone.com
Best trading platforms
Writer
Written by:
Calendar
Written on:
25 June 2022
Date
Last edit:
4 February 2023
Our rating
4.1

4.1

User rating
7.75

7.75

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
See how Pepperstone compares to it's closest alternatives.
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Main summary

Established in 2010 by a team of Australian professionals and experienced traders, Pepperstone is one of the leading brokers in the market today. Pepperstone is trusted by over 300,000 traders around the world, and is regulated and licensed by agencies from numerous countries. 

Being licensed by 7 agencies, Pepperstone is known for being among the safest and most secure brokerages in the market. Due to the high quality of services offered by this broker, it has been named a leading Forex broker by numerous organizations.

Offering traders access to over 1,200 assets, Pepperstone is a place where you can certainly find something to trade. From Forex currency pairs to shares of leading companies, the trading portfolio of Pepperstone is truly grand and full of opportunities.

So, let’s get into this Pepperstone review and see what exactly this Forex broker has to offer.

Here Are the 8 Pros and Cons

  • Licensed in 7 jurisdictions
  • Does not charge an inactivity fee
  • Does not charge fees on deposits or withdrawals
  • Opening an account takes less than a day
  • Offers MetaTrader and cTrader trading platforms
  • Additional social copy trading platforms are offered to traders
  • Does not offer real stocks
  • Compared to other leading brokers, the list of assets is a bit limited

Pepperstone Fact sheet

Main features
Regulations Australia, Cyprus, Germany, Kenya, UAE, UK
Fees on deposits $0
Fees on withdrawal $0
Inactivity fees $0
Minimum deposit $0
Minimum account activation $0
Number of available assets 1200+
Leverage up to 1:500. Retail leverage is capped at 200:1
Available trading markets Forex, Cryptocurrencies, Physical Shares, CFDs, Indices, Commodities
Account currencies AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD
Demo account Yes
Live account types Razor, Standard
Islamic account Yes
Security
Negative balance protection Yes
Part of compensation fund Yes
Keeps funds on segregated bank account Yes
Assets
Forex 62. available pairs
Shares 0. stock CFDs
Cryptocurrencies 23
Indices 23
Commodities 32
Total 1200+
Fees & spread
Forex From 0 pips
Shares N/A, depending on the stock. The commissions change according to underlying exchange rates.
Cryptocurrencies N/A, depending on the stock. The commissions change according to underlying exchange rates.
Indices From 0.1. 0.6 Avg spread on US500
Commodities From 0.3 pips. 13.81 Avg spread on XAU/USD
Software
Platforms MetaTrader 4, MetaTrader 5, cTrader
Mobile trading support Yes
Mac device support Yes
Commodities Yes
Payment systems
Payment methods -
Minimum deposit Visa, Mastercard, POLi, Bank Transfer, BPay, PayPal,Neteller, Skrill, Union Pay
Minimum withdrawal Visa, Mastercard, POLi, Bank Transfer, BPay, PayPal,Neteller, Skrill, Union Pay. Withdrawals made before 7 (AEST) will be processed the same day
Withdrawal processing time Instant
Time to open an account -
Show all

The Safety & Security of Pepperstone

The safety and security that Pepperstone offers to its clients had a huge impact on our final Pepperstone rating. Pepperstone is a Forex broker that is licensed by as many as 7 regulatory bodies. 

The broker has also adopted numerous policies to ensure the highest safety and security for its clients. Over the last few years, they managed to become one of the leaders in the Forex market because it is a place where traders can open positions without having to worry about the legitimacy of the broker.

Among the licenses that Pepperstone holds are the following:

  • Australian Securities & Investments Commission, ASIC;
  • Securities Commission of The Bahamas, SCB;
  • Capital Market Authority, CMA;
  • Cyprus Securities and Exchange Commission, CySEC;
  • Financial Conduct Authority, FCA;
  • Federal Financial Supervisory Authority, BaFin;
  • Dubai Financial Services Authority, DFSA.

As you can see on the list of regulators above, the licenses of Pepperstone are very diverse. Because the broker is regulated in so many jurisdictions, it is able to offer services to millions of people around the world. 

The broker is licensed by local authorities as well as international, offshore regulatory bodies. Among the regulators are tier-1 agencies, that are known for the highest safety and security standards, such as the FCA and ASIC. The broker is also regulated by offshore regulators, which might be less trustworthy but allows the broker to offer its services worldwide. 

Safety measures & policies

We have already briefly mentioned that over the past few years Pepperstone has adopted different types of policies that help them to ensure the highest safety and security for its clients. 

As the market continues to develop at a very fast pace, the safety and security standards of Forex brokers are changing every year. For many brokers, the changing times proved to be quite a challenge. Failing to keep up with the market developments, many brokers have already met their end. 

But, Pepperstone has a completely opposite story - this broker has managed to ensure that it is up to date with modern trading standards, being one of the safest brokers in the market today.

Among many policies and measures that this broker follows is negative balance protection. This is a very important and useful policy, that is especially useful for traders who like to use high leverage. 

While leverage can be a great thing for traders to increase their profits, it can also increase the risks associated with the market. In fact, there have been several instances when some people lost more money than they initially had in their trading accounts. 

The negative balance protection policy of Pepperstone can protect you from such situations. Thanks to this policy, the broker closes all the open positions automatically whenever your funds near the zero mark, which means that you will never have a negative balance on your account.

Apart from this, the Forex broker also keeps the funds of its clients in segregated accounts. Pepperstoen has partnered up with leading banks in Europe to ensure the legal and safe storage of their client's funds. 

Thanks to account segregation, you can be sure that your funds are maintained safely at all times. Apart from this, the broker is also a part of the Compensation Fund, which ensures that traders can retrieve the money lost (or at least part of it) as a result of hackers' attacks or similar third-party activities.

All in all, Pepperstone is truly a safe and secure Forex broker that is very much focused on the safety of clients’ funds.

Available Assets on Pepperstone

Pepperstone offers clients a wide range of trading instruments to choose from. The clients of the broker can choose anything from Forex to shares, cryptocurrencies, indices, or commodities to trade. 

While other leading brokers offer a bit more trading assets to clients, the array of instruments available on Pepperstone should be enough for the majority of traders around the world. 

Most of the assets available on Pepperstone can be traded as CFDs. CFD stands for “Contracts for Differences” and are very popular trading instruments available in the market. They offer traders the opportunity to make profits without having to buy the underlying assets. 

For example, when trading crypto CFDs on Pepperstone, you do not buy or sell the cryptocurrencies themselves. Rather, you are simply speculating on the possible price changes of the assets. These contracts have deadlines, once the deadline comes, if your prediction was correct, you will make profits, while if the prediction is incorrect, you will be losing the position.

Below, we will discuss the trading conditions of individual assets being offered one by one. So, keep reading our Pepperstone review and see what this broker has that might work for you.

Trade Forex on Pepperstone

Forex trading is by far the biggest financial market in the world. Some of the estimates indicate that the average daily turnover of the Forex trading market is over 6 trillion USD. This should not come as a surprise as there are always some people in different parts of the world who need to exchange currencies. This also makes Forex trading the most liquid market.
 

Pepperstone Forex trading.png

Because of this, it should not come as a surprise that Pepperstone is among the broker that is very much focused on Forex trading with over 60 currency pairs available. This includes major, minor, and exotic pairs. 

The broker has partnered with tier-1 banks to ensure traders have access to the most competitive spreads in the industry. The leverage on Pepperstoen is 1:30. 

This is in line with the current Forex trading regulations around the world. In Europe, as well as Australia, local regulatory bodies restrict offering leverage of over 1:30 to ensure the safety of traders. Depending on the account type that you are using, the spreads that you might have to pay may vary. In general, the spreads for major pairs start from as low as 0.1. 

Trade Shares on Pepperstone

On Pepperstone, there are over 1,000 shares of leading companies available for trading and trading shares is possible through CFDs. The clients of the broker have the opportunity to access shares from all parts of the world, including Australia, the US, the UK, Germany, and many others. 

The broker also offers clients the opportunity to trade out of hours. This lets traders benefit from both pre-market and after-hours prices. The clients of Pepperstone are able to trade shares with leverage going up to 1:20. As for commissions, they start at just 0.02%. 

The commissions on stock CFD trading are very low at Pepperstone and it allows traders to have the opportunity to make profits in an easier manner. Thanks to leverage, clients of Pepperstone also have the opportunity to increase their profits made when trading share CFDs. There is a total of over 1,000 CFD stocks available for trading, and this includes leading companies’ shares such as Tesla, Facebook, Apple, and many more.

Trade Indices on Pepperstone

If you are looking for options to further diversify your trading activities, indices might be just what you are looking for. These assets have become very popular among traders around the world over the past few years. 

Instead of investing in individual stocks, indices offer traders the opportunity to make profits by giving them access to the economies of different countries and different industries. There are over 30 indices available on Pepperstone and they can be used by traders to make additional profits in the market. 

Pepperstone offers traders the opportunity to trade indices with leverage of up to 1:20. As for experienced traders, the leverage can go higher. Among the indices that you can trade are those representing the US, Africa, the UK, Europe, and so on.

Trade commodities on Pepperstone

Commodities have always been a part of humans' lives. In fact, they have been traded for a much longer time than any other asset. Pepperstone offers clients access to both soft and hard commodities. Soft commodities are those that are a result of agricultural activity, while hard commodities are those that are mined. 

Among the commodities that can be traded on Pepperstone, you will find gold, silver, platinum, crude oil, cocoa, wheat, and many others. The leverage on commodities goes up to 1:20, while the spreads start from as low as 0.5. 

Trade cryptocurrencies on Pepperstone

Pepperstone offers clients access to leading cryptocurrencies, such as Bitcoin, Bitcoin Cash, Cardano, Chainlink, Dash, Dogecoin, and many others. The leverage for retail traders is 1:2, and it can go up to 1:10 for experienced traders. 

The past few years have seen massive growth in crypto trading popularity, and thanks to CFD trading, those who want to trade these assets do not have to worry about holding actual crypto assets. Instead, they can simply speculate on the possible price changes of cryptocurrencies without having to deal with the underlying assets.

In total, there are over 20 crypto assets available on Pepperstone.

Account Types of Pepperstone - Which one should you use?

There are several account types available on Pepperstone. The broker offers its clients a wide array of options, which allows individuals to trade according to their individual needs. 

Pros & cons of Pepperstone account types

ProsCons
Five account types available for tradersSome account types are only offered in certain jurisdictions
There is a special $0 commission account available on Pepperstone 
Islamic account is available to respect the beliefs of clients 

The account versions offered by Pepperstone are suited for different types of traders, ensuring that everyone can find something that fits their individual trading needs and interests. Below, we will discuss the available account types on Pepperstone one by one to help you decide which one fits your needs the best.

Demo account

If you are a complete beginner in the Forex trading market, it would be better if you first avoid trading with your real money. The Pepperstone demo account can be a great option for traders who want to learn more about the market and increase their skills without risking anything. 

When you open a demo account with Pepperstone, the broker will give you a certain amount of virtual funds. If you run out of virtual money when trading, you can always contact the broker and ask them to provide more.

Demo trading lets beginners get used to the trading platform and become more confident as well as comfortable with their skills. Apart from this, a demo account can also be used by experienced traders to try out different types of strategies and see which one works best for them. 

Standard account

The Pepperstone Standard account can be a great fit for traders of all different wants and interests. The clients of Pepperstone using Standard accounts do not have to worry about paying any commissions, as they are zero percent accounts. 

The spreads are very low and competitive, starting at just 0.6 pips. With this account, you will be able to use the MT4, MT5, or cTrader platforms. You will also be able to use TradingView for more detailed market analysis. 

This account is considered to be an entry-level account at Pepperstone. It can be used by traders after practicing on the demo account to acquire further skills. The minimum deposit to open this account is $200, and the leverage offered for Forex pairs is 1:30. The Standard account allows traders to use strategies such as scalping, hedging, and so on. 

Razor account

A Pepperstone Razor account can be a great option for traders who want to save as much money as they can. This account is known for having very low spreads, which start at 0.0 pips. The broker allows Razor account holders to have access to trading platforms such as MetaTrader 4, MetaTrader 5, cTrader, and TradingView. 

Pepperstone razor account.png

Commissions apply to some trades using this account. For example, on MT4 and MT5, the fees start from $3.50 per one standard lot (100,000 units of the asset). This account is the most popular option among Pepperstone clients. 

In order to ensure that the fees are as low as possible, the broker uses Straight Through Processing, STP, with no dealing desk. This way, clients have direct access to tier-1 institutions which provide very high liquidity. 

Islamic account

Pepperstone's Islamic account can be a great option for traders who follow the beliefs of the Quran and want to trade Forex without having to go against their religious views. According to the Sharia law of the Quran, it is prohibited to participate in activities that require dealing with interest rates. 

When trading Forex, if you open a position and leave it open overnight, you will have to pay or receive swap interest fees. Because it goes against some traders’ beliefs, the broker offers an Islamic account. It is also sometimes referred to as a swap-free account, as those using this account do not have to worry about swaps.

However, it should be noted that this account is only available for specific Muslim countries and not everyone can create this account. 

Social/copy trading account

If you are a trader who wants to take part in social/copy trading, there is a special offer awaiting you on Pepperstone. Pepperstone MAM/PAMM account can be a great way for traders to make profits in the market without having to trade on their own. 

This account allows traders to follow the steps taken by the most experienced people in the market and make profits without having to do any market analysis on their own. This account can be a great way for beginners to become a part of the market.

Opening an account on Pepperstone

Now that we have discovered what types of accounts are available on Pepperstone, we can talk about how you can create an account. It is recommended that traders get started with a demo account before they decide to trade with the broker. 

Once created, you will be provided with $50,000 of virtual cash to test out different trading activities on your own for free. After this, you can get started with the live account opening.

Step 1: Choose & create your account

Your first step is to take your time and understand which account you want to create. Try to think about what your hopes are in the Forex trading market and what your goals are. The better you know what you want to be doing in this market, the easier it will be for you to create an account that perfectly fits your needs. 

Pepperstone account opening.png

Once you have made up your mind, simply click the blue Join Now button on the left side of the screen from the website of the broker. Once you do so a window will pop up on your screen. Here, you will provide only the most basic information about yourself and click continue. 

After this, you will be taken to a new page. Here, you will be asked to provide a little more detailed information about yourself. This includes your trading experience, why you want to trade, how much you want to trade, where you get money for trading, and so on. 

There is also a small and easy quiz prepared by the broker to ensure that those who do not know anything about the market do not end up risking all of their money.

Step 2: Verify your account

Now that you are done with your first step, it is time for you to verify your account. This is required by the broker due to the KYC (Know Your Customer) policy. This policy is used to make sure that you are a real person and are not a criminal using your account to launder money or something like that.

For your verification, you will be required to provide the broker with a copy of a government-issued ID. In addition, traders are also required to provide the broker with a copy of a utility bill issued over the past three months to prove your address

Step 3: Choose and download the trading platform

Once you are done with account creation, you can continue by downloading the trading platform of your choice.

Fees and Commissions

There are several types of commissions charged by the broker. While there are no fees or commissions charged for deposits or withdrawals, the broker charges spread markups when you trade. Depending on the account type that you have and the market conditions during your trading, the spreads can vary.

In general, if you open the Razor account and you trade major currency pairs like EUR/USD, the spreads should be relatively low. They usually start as low as 0. In addition to this, Pepperstone does not charge an inactivity fee, which means that you can trade whenever you want, for how long you want to. You can also quit trading any time you want to, without having to worry about the additional costs it can bring you.

The commissions charged by Pepperstone are very competitive when compared to other brokers available in the market. 

Comparing Pepperstone fees with other brokers

Generally, the fees charged by Pepperstone are very competitive. But, to be able to rate them better, we have decided to compare Pepperstone's fees with other brokers. Let’s see how Pepperstone compares with other brokers in terms of commissions. 

Pepperstone fees compared to Interactive Brokers fees

Type of FeePepperstoneInteractive Brokers
EUR/USD SpreadFrom 0From 0.6
Fees on DepositsNo1%
Inactivity feeNoNo*

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

Pepperstone fees compared to eToro fees

Type of FeePepperstoneeToro
EUR/USD SpreadFrom 0From 1
Fees on DepositsNo$5 on withdrawals
Inactivity feeNoYes, $10/m

Pepperstone fees compared to IG fees

Type of FeePepperstoneIG
EUR/USD SpreadFrom 0From 0.8
Fees on DepositsNoNo
Inactivity feeNoYes, $10/m

Pepperstone fees compared to XM fees

Type of FeePepperstoneXM
EUR/USD SpreadFrom 0From 0.6
Fees on DepositsNoNo
Inactivity feeNoYes, $15 after 12 months, +$5/m

Mobile Experience

Pepperstone's rating depends on several important factors, one of which is the mobile experience. All the available trading platforms on this Forex broker can be used by traders with their smartphones. Whether you have an iOS or Android device, you can trade Forex using any of the trading platforms available on Pepperstone. 

The Pepperstone website is also very mobile-friendly and looks great on smartphones. This is a huge advantage of Pepperstone.

Education & Research Tools

As of now, many regulatory agencies around the world require Forex brokers to offer traders access to high-quality educational material. Pepperstoneoffers a wide range of educational material to help traders increase their understanding of Forex trading. 

The Forex broker offers traders very detailed and useful guides on different financial markets. These can be used by traders to determine what the best ways to get started are in a certain market. Apart from this, the broker offers traders frequent webinars, which are stored on the website once they are finished and can be re-watched by traders at any time. 

These webinars are usually prepared by the most experienced traders in the market, who are ready to share their knowledge with beginners. 

There is also a huge amount of research tools available for traders on Pepperstone. This can be used by traders to ensure they are keeping in touch with the major developments in the financial markets.

Customer Support of Pepperstone

There are numerous channels one can use to get in touch with the representatives of their customer support team. For example, one could use the live chat option available on the website of the broker. If that's not your cup of cocoa, then you can always email, phone, or contact them through WhatsApp. 

There is a special FAQ section available on the website of Pepperstone, which can be used by traders to find answers to the most asked questions without having to contact the customer support team.

Trading Software of Pepperstone Reviewed

While working on our Pepperstone review, we found that there are some of the best-known trading platforms available for the clients of Pepperstone. Among them you can find:

These three trading platforms are very well-known in the market. In fact, they are the most used platforms around the world. MetaTrader 4 and MetaTrader 5 were created by the same company, MetaQuotes. They have a very long history in the financial markets and are trusted by top brokers. 

MT4 was released in 2005, and it has since become the most popular trading platform. It has changed the way people view the financial markets and has made it possible for people around the world to trade Forex in an easier manner. 
 

Pepperstone MetaTrader 4.png

MetaTrader 5 was released in 2010, and it offers clients access to many trading instruments in addition to Forex. This includes stocks, indices, CFDs, and so on.

cTrader is also a very well-known trading platform, which was created in 2010. This trading platform offers similar opportunities to MT4 and MT5 but looks a bit more modern.

Pepperstone also allows its clients to access TradingView, which is a web-based charting solution. It can be used by traders to analyze the market in greater detail, connect with other traders and see their views and predictions.

Social trading on Pepperstone

Pepperstone also allows its clients to participate in social trading. By partnering up with companies such as Myfxbook and DupliTrade, the broker offers clients the opportunity to become part of the largest social trading groups. 

Pepperstone traders can also have access to MetaTrader trading signals and follow the steps taken by the most experienced traders in the market. Social trading can be a great option for those who do not have enough time for active trading but still want to be part of the financial markets. 

 

Conclusion

After throughout review of Pepperstone and everything it has to offer, we found that it is truly an amazing Forex broker. Pepperstone can be trusted by traders all around the world. Regulated and licensed by trustworthy agencies globally, Pepperstone ensures the highest safety and security for its clients at all times. 

With a wide range of available trading instruments and well-known trading platforms, Pepperstone can meet the needs of traders of all interests. Because of this, and many other factors, we believe that Pepperstone is among the best Forex brokers available online.

7.75

7.75

Average based on 8 user reviews
Safety 8.25
Assets 7.75
Accounts 7.25
Fees 8.50
Desktop platforms 8.25
Mobile platforms 7.25
Education 6.50
Support 6.25
Have experience with Pepperstone? Login to leave a review
bailey.johnson reviewed 9 days ago
Live 3-6 months experience, 6+ months experience, $5,000+ account size
7.88

7.88

Good: Best broker to trade forex
Pros
I can fully trust this broker with my money. I know that it is regulated and doesn't have conflict of interest. Have been with them for 5 months and most likely will stay much longer. Great platforms and great fees.
Cons
Ovaroll great but I think they need more people in customer service.
conrad.cash reviewed 9 days ago
Live 1-3 months experience, $1,000 - $5,000 account size
7.63

7.63

Good: Good if you want to trade crypto too
Pros
Adding crypto to the mix was a great decision. Plenty of assets to trade here.
Cons
The mobile app can be slow at times.
aubrey.hart reviewed 9 days ago
Live 3-6 months experience, 6+ months experience, $5,000+ account size
6.63

6.63

Good: Best broker if you are trading with a computer
Pros
Personally for me I like the desktop version of Pepperstone. It is simple and easy to use with no confusing menu. They also have good selection of assets available to trade with reasonable fees
Cons
The biggest problem that I have with pepperstone is how inconsistent their support staff are. One day they might give you the best service there is and other times you might receive the worst possible service there is.
stan.pascall reviewed 9 days ago
no experience
8

8

Great: Bitter mobile app, sweet tradingview charts
Pros
They are one of the brokers offered on TradingView platform. Make sure to read all details about spreads before jumpin in
Cons
Mobile app sometimes is slow.
turner.clay reviewed 10 days ago
Live under $1,000 account size
8.13

8.13

Great: Good broker
Pros
I just love that they have ctrader. +they are Australian company so that I can trust them.
Cons
One thing I dislike is that there should be more things to trade. I think there are not enough stocks with this broker. But other than that, it's great.
jenson.harris reviewed 10 days ago
Demo Less than a month experience
7.38

7.38

Good: More than decent. Using TradingView was very helpful
Pros
Very good features and the trading experience is quite convenient too. TradingView support was also a welcomed surprise for me.
Cons
Customer support could be better. The mobile app can be clunky sometimes too.
guinevere.curry reviewed 10 days ago
Demo Less than a month experience
9.5

9.5

Great: You can directly trade from TradingView charts on Pepperstone
Pros
These guys are supported on TradingView, I mean you can open and connect your account with TradingView which is a top-notch charting platform. So, yeah, you can really see where I'm going. Definitely a worth of considering as a main broker for trading activities.
Cons
Support could be improved.
zeph.simon reviewed 10 days ago
Demo 3-6 months experience, 6+ months experience
6.88

6.88

Good: Good but nothing special
Pros
I like that there are very low trading fees and no deposit fees at all.
Cons
I did not like their educational materials, as it was mainly tailored for very beginner traders.

FAQs on Pepperstone

What is the minimum deposit for Pepperstone?

While there is no official requirement for the minimum deposit to open an account on Pepperstone, the representatives of the broker recommended that traders start trading with at least $200 to get good exposure to the market.

 

Can Pepperstone be trusted?

Yes, Pepperstone can be trusted. In fact, it is one of the most trustworthy Forex brokers available in the market today. Regulated by leading agencies around the world, this broker manages to ensure the highest safety standards for its clients. It also has adopted numerous policies to ensure the funds of its clients are kept safe at all times.

 

How long does it take to withdraw from Pepperstone?

At Pepperstone, it usually takes at least 1 business day. There are instant withdrawal options available as well, they are e-wallets such as Neteller, Skrill, PayPal, Union Pay, and so on.