Pepperstone Review: who is this broker for?

Pepperstone is an Australian forex and CFD broker. With Pepperstone, you can trade CFDs or spread bet on forex, indices, stocks, commodities, and cryptocurrencies. The company was founded in 2010 and opened its London office in 2015.

With Pepperstone, you can trade in an ever-growing range of markets, have access to quality research, and benefit from feature-packed platforms. Six regulatory authorities oversee Pepperstone, including three top financial authorities: the UK's Financial Conduct Authority (FCA), Germany's BaFin, and the Australia Securities and Investments Commission (ASIC).

In this article, we will delve into the reviews, commissions, and offerings of Pepperstone.

Pepperstone reviews: who is this broker for?

Pepperstone can be used by traders with different levels of experience, and the choice of accounts reflects this. Pepperstone offers two types of accounts: Razor (for experienced traders) and Standard (for beginners).

Each account is slightly different and designed for different types of traders. Traders who want a simplified experience should choose the Standard account. The Razor account, on the other hand, is more suitable for more experienced traders. In addition, Pepperstone offers many educational tools on its website, an ideal option for beginners.

This broker offers several platforms (including MetaTrader 4 and 5, cTrader, and the popular charting platform TradingView). Trading with Pepperstone is ideal for those looking for competitive costs and efficient customer service.

In addition to MetaTrader and cTrader, the broker also offers a wide range of third-party tools and plugins to enhance its already impressive software suite.

🌎 RegulationUnited Kingdom, Germany, Cyprus, Australia
United Arab Emirates, Bahamas, Kenya
💰 CostsLow
💰 Minimum depositNo
💵 Inactivity feeNo
💵 Withdrawal feeNo
📈 ProductsSpread betting and CFDs on forex, stocks, commodities, ETFs
🕹️ Demo accountYes

Is Pepperstone safe?

Pepperstone is licensed by the following entities:

  • Financial Conduct Authority (United Kingdom)
  • Cyprus Securities and Exchange Commission (Cyprus)
  • Federal Financial Supervisory Authority (Germany)
  • Australian Securities and Investments Commission (Australia)
  • Dubai Financial Services Authority (United Arab Emirates)
  • SCB (Securities Commission of the Bahamas)

Pepperstone: trading platforms

Pepperstone's broad range of platforms enables it to adapt to any trading and investment style. Besides the MetaTrader (4 and 5) platforms, customers can choose the TradingView (charting platform) or cTrader, which provides direct access to liquidity providers and advanced technical features, including detailed charts, backtesting, and algorithmic strategies.

Pepperstone MetaTrader 4

The most popular forex trading platform in the world, MT4 packs multiple features to take trading to a whole new level. It is accessible from any browser and is a streamlined trading platform available as a download or web interface. With an updated look and feel, one-click trading, and complete integration with many third-party plugins, the platform enriches the trading experience for all traders. The main features include:

Pepperstone cTrader

Pepperstone's cTrader platform allows users to create watchlists, analyse charts, execute and monitor trades, stay up to date with the news via a market calendar, and many more. More than 70 technical indicators can be used for technical analysis on a wide range of timeframes.

Overall, Pepperstone offers multiple trading platforms that suit different needs and preferences. While MetaTrader 4 is the most popular for forex trading, MetaTrader 5 is a common choice among traders who focus on multiple other asset classes, including stocks or commodities. cTrader also packs a punch in terms of features and personalisation. TradingView, on the other hand, is one of the most popular charting platforms around and is one of the largest social networks for traders.

Finally, Pepperstone is the ultimate solution for automated trading thanks to Capitalise.ai, a new platform that allows you to create, test, and automate trading strategies. You don't need to know or learn how to code, and the platform further embeds market analysis, monitoring (with smart notifications), a library with strategies to get you started quickly, and multiple customisable features.

Pepperstone markets

Pepperstone mainly offers forex trading but also spread betting and CFD on stocks, indices, ETFs, and commodities.

Pepperstone offers CFD on over 600 US stocks. You can also trade after-hours (when earnings are usually released). It also offers CFDs on 100 popular UK stocks, several German stocks and over 200 Australian stocks. Note that you need MetaTrader 5 to trade CFD on stocks.

Types of orders

With cTrader, you can create four basic order types and attach take profit and stop loss orders to them. You can also set a trailing stop loss, although a guaranteed stop loss is not available.

In addition, you have the option to execute a stop-loss order at the buy or sell price.

  • Market. The market order executes the operation at the prevailing market price.
  • Limit. Depending on whether it is a buy or sell order, the entry takes place at a specific point below or above the prevailing market price.
  • Stop. Depending on whether it is a buy or sell order, the entry point is at a predetermined point above or below the prevailing market price. In addition, the trader can choose the expiration time of the order.
  • Stop Limit. If the trader executes a buy or sell order, the entry point will be higher or lower than the prevailing market price. However, the tolerance range will be chosen by the trader.
PEPPERSTONE

Pepperstone commissions and costs

Compared to other online brokers, Pepperstone offers very competitive costs. The Standard account has FX minimum spreads starting from 1.1 pip without commissions, while the Razor account has FX minimum spreads starting from 0 pip, but with commissions per round turn 100k traded.

AccountCommissions
Razor AccountAverage spreads are 0-0.3 pips
Commissions starting at £7 per round turn 100k traded
Standard AccountThe average spread is 1.1 pips
£0 commissions

Here are the commissions on forex with the two types of accounts:

In addition to spreads, Pepperstone also offers a combination of spreads and commissions. For example, forex commissions for Razor accounts:

Overall, Pepperstone's spread is one of the lowest in the online retail forex market. Pepperstone's Active Trader program reduces a portion of the spread based on the monthly trading volume:

Pepperstone review: Razor account vs. Standard account

 RazorStandard
FeaturesBest for active tradersBest for new traders
CurrenciesEUR, USD, AUD, GBP, JPY, CAD, CHF, HKD, SGD, NZDEUR, USD, AUD, GBP, JPY, CAD, CHF, HKD, SGD, NZD
Minimum depositNoNo
Spread (avg)0.0-0.3 pips1.1 pips
Commission per tradeFrom £7 per round trade (100k)£0
Trading toolsCFDs and spread bettingCFD and spread betting
Demo accountYesYes
Copy trading support/Automated tradingYesYes

Non-trading fees

Pepperstone has no non-trading fees. The broker does not impose inactivity or account maintenance fees. Withdrawals are free for credit/debit cards and e-wallets. Please note that this does not apply to Skrill and Neteller, as these payment processors will charge you a fee (not the broker, through).

Pepperstone mobile trading applications

For mobile trading, Pepperstone offers a range of third-party platforms: the mobile MetaTrader (MT4 and MT5) applications and the mobile TradingView and cTrader applications.

Market research with Pepperstone forex broker

Pepperstone provides both written and video research content. Pepperstone's research offering is above average, but not as solid as market leaders.

Traders have access to Pepperstone's proprietary content as well as third-party tools such as Autochartist (for pattern and trading signal recognition) and Delkos (for risk management).

Customers (both retail and pro) also have access to Pepperstone's Smart Trader Tools, which include useful features such as sentiment indicators, correlation matrix, market manager, trade simulator, trade terminal, and many more.

Pepperstone's proprietary research includes numerous daily technical and fundamental analysis articles and videos. Pepperstone's website and YouTube channel sync content, while cTrader offers streaming news.

Pepperstone withdrawals

Pepperstone allows free withdrawals on credit/debit cards, bank transfers, and some e-wallets. The withdrawal cost for Skrill and Neteller is £1 (charged by the service provider).

How can I withdraw money from Pepperstone?

  1. Log in to your Pepperstone account.
  2. Select “Funds” from the left-hand menu.
  3. To withdraw funds, click on “Withdraw Funds”.
  4. Select the account from which you want to withdraw funds.
  5. Add the amount.
  6. Click “Confirm”.
  7. Choose the payment method.

Funds can be deposited or withdrawn in several ways:

  1. Credit/debit card
  2. PayPal
  3. Bank transfer

Pepperstone UK user reviews: customer service

Pepperstone can be contacted via:

  • Live chat
  • Phone: 0800 046 5473
  • Email: support@pepperstone.com

Pepperstone's customer service is available via several methods. The live chat works as expected and ratings and comments are available after each chat, so it is easy to give feedback.

In addition, there is excellent telephone support. According to user comments, an agent takes a few seconds to connect with you and answer your questions.

The customer service team responds promptly to email requests as well. Users report that the response time is usually 1 hour.

In addition, Pepperstone's customer service is available 24 hours a day.

Pepperstone review: how to open an account

A new account can be opened in a few minutes. Account approval usually takes 1-3 days, but the average is usually 1 business day.

Several payment options are available, depending on the chosen deposit method or the bank with which you have an account.

  1. Register with your email and a secure password, confirm your email address, and access the secure Client Area.
  2. Enter your personal data and select the base currency of your account.
  3. Then, you will have to fill out a questionnaire about your trading experience.
  4. Upload your government-issued ID and proof of address (such as a utility bill) to verify your identity as per KYC requirements.
PEPPERSTONE

Pepperstone demo account

As anticipated, with Pepperstone you can open a demo account. The demo account provides £50,000 in virtual money to simulate real trading conditions and expires 60 days after activation. If you create a real account, you can open additional demo accounts.

Pepperstone review: research & education

Pepperstone supports beginners by providing multiple resources, including:

  • Demo account
  • Webinars
  • Educational videos
  • High-quality educational articles
  • Trading glossary

A demo account can be used to familiarise yourself with the platform. This is the best way to learn how the Pepperstone trading platforms work.

A course dedicated to MetaTrader 4 offers webinars, educational content and educational videos on the platform. Pepperstone's YouTube channel also offers educational videos.

You can also use the trading glossary to help you understand unfamiliar terms, phrases, and acronyms.

Compared to other industry leaders in education, Pepperstone offers a relatively small amount of content.

There are over 40 educational articles but they are not divided by experience level. Pepperstone hosts several webinars each month, which are archived on its YouTube channel.

Pepperstone Trustpilot

As shown below, user reviews of Pepperstone on Trustpilot are excellent. Pepperstone has achieved a rating of 4.6 out of almost 2000 reviews. It is one of the best rated brokers on Trustpilot.

Pepperstone advantages and disadvantages

👍 Advantages👎 Disadvantages
Two account types for beginners and experienced tradersNo guaranteed stop loss orders
Variety of platforms and tools availableTraining and education could be improved
Overall cost is one of the lowest in the industry

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Pepperstone review: conclusion

Overall, Pepperstone UK appears to be an excellent CFD and spread betting broker. The extensive range of assets offered by this broker and the competitive spreads position it as a strong contender in the trading industry.

Pepperstone customers benefit from a comprehensive trading experience within the online forex broker community. With swift order execution, various account types, competitive pricing, and multiple platforms (MT4, MT5, TradingView, and cTrader), the broker outperforms the majority of forex brokers worldwide.

FAQ

Is Pepperstone authorised to operate in the UK?

Yes, Pepperstone is licensed by the FCA and all clients' funds are under the protection of FSCS, which covers up to £85,000 in case of insolvency.

Does Pepperstone have a minimum deposit requirement?

No, with Pepperstone you will not have to make any minimum deposit when opening an account.

What trading platforms does Pepperstone UK offer?

Pepperstone UK offers a range of trading platforms to cater to different trading preferences. The primary platforms offered are MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are widely recognised and trusted in the industry. Additionally, Pepperstone UK provides the cTrader platform, known for its advanced features and direct access to liquidity providers. These platforms offer powerful tools, intuitive interfaces, and seamless execution to enhance the trading experience for clients.

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