Pepperstone Review

Pepperstone Overview

Founded 2010
Platform MetaTrader 4, MetaTrader 4 Mac, MetaTrader 5,
WebTrader, iPhone, Android, iPad/Tablet, cTader, cTrader WebTrader, cTrader cAlgo, cTrader Mobile
Minimum account size $200
Minimum lot size 0.01
Tradable assets 70+
Maximum margin 1:500
Spread on EUR/USD 0 pips
Payment methods Credit/Debit Cards, PayPal, POLi, China Union Pay, Banc Transfer (Domestic and International, BPay, Skrill (Moneybookers), Neteller, Qiwi, Fasapay, Broker to Broker
Demo account Yes
Accepts USA traders No
Regulated ASIC (Australia), FCA (UK)
Support Phone, Email, Live Chat
Website www.pepperstone.com

 

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Pros

  • Ultra low spreads
  • Up to 1:500 leverage
  • 1 day withdrawal processing
  • Variety of supported payment methods
  • Regulated

Cons

  • Average minimum account size
  • USA traders not accepted

Pepperstone is an online Forex and CFD brokerage that has been in the business since 2010. They have a range of online trading platforms and according to their website, their mission is “to provide institutional grade trading to the online forex trader, without complicated account structures and catches”.

Platform

As of this writing, there are a total of 11 platforms so can conveniently trade your way and whenever you want. The MetaTrader 4 has the standard MetaTrader 4 for Windows, MetaTrader 4 for Mac, MetaTrader 5, WebTrader and mobile applications for devices running on iPhone, Android and iPad or Tablet. These all come with Smart Trader Tools. There’s also the cTrader platform which is available in three different versions: cTrader WebTrader, cTrader cAlgo and cTrader Mobile. With such many options, this brokerage deserves a Platform score of 9/10.

Design

They have made the layout of the platforms well-organized and very easy to navigate. You can easily track your positions, monitor the instrument prices and access all the tools that you need on the main trading screen. Overall, they have done a great job in optimizing the visual aspect of their platforms and this merits a Design score of 5/5.

pepperstone platform

Minimum Deposit

The accepted minimum deposit to open an account and begin trading is $200. It’s not the lowest in the industry but not the highest either so basically this is on the average range so this notches a Minimum Deposit score of 3/5.
 

Minimum Lot Size

Similar to the industry standard, the minimum lot size that they allow is 0.01. For this reason, they earned a Minimum Trade Score of 4/5.

Tradable Assets

Currently they have more than 70 tradable assets which includes forex, gold, oil, CFDs and many more. These can all be accessed across all of their multiple platforms allowing you to explore different markets on almost any device. Based on our scoring table, Pepperstone got a Tradable assets score of 3/5.

pepperstone assets
 

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Payouts

The spreads on the MetaTrader 4 platform varies but even during liquid times, it can still go for as low as 0 pips even on major currency pairs like the EURUSD. Such a rate warrants a Payouts score of 10/10.

Withdrawal Time

You need to fill-up a withdrawal form if you want to cash-out your funds and if you will be able to send it before 21:00 GMT (07:00 AEST), the request will be processed on the same day. Otherwise, it will be done on the next business day. Such speed deserves a Withdrawal Time score of 10/10.

Deposit and Withdrawal Methods

They accept a selection of banking methods so funding the account is certainly not an issue. Among the supported payment systems include credit and debit cards (Visa and MasterCard), PayPal, POLi, China Union Pay, Banc Transfer (Domestic and International, BPay, Skrill (Moneybookers), Neteller, Qiwi, Fasapay and even Broker to Broker. Such coverage warrants a Deposit and Withdrawal Methods score of 5/5.

pepperstone deposit

Customer Support

The customer service department can be reached via phone support, email and live chat as well. We had the chance to talk to one of their agents and all of our questions were easily answered. Their professionalism and politeness were commendable and for this they notched a Support score of 13/15.

pepperstone support

Quote Accuracy

Even if there is high liquidity, the quotes displayed by their platforms are in real time based on the several tests that were done. Trade executions were also fast regardless if there is volatility in the market or not. This warrants a Quote Accuracy Score of 10/10.

Reputation

Based on our extensive profiling of this brokerage, their reputation remains strong in many countries. Aside from this, they have been recognised by many trusted award-giving bodies plus they have an active license from the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA). This kind of credibility deserved a strong Reputation score of 15/20.

pepperstone reputation
pepperstone reputation
pepperstone reputation

Conclusion

Pepperstone has a suite of platforms that provides access to low-cost pricing with fast execution and exceptional trading conditions. Their compliance with financial regulators will give you peace of mind that you are trading with a reliable brokerage while the personalised customer service that they offer gives you an assurance their is always a helpline that you can contact immediately. This is the online forex and CFD broker that has it all.

Final Score: 87/100

 
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