Introduction or Skip Content and Read the Bottom Line!
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.
We’re they able to accomplish this mission for their clients or is it just a fad?
Continue reading this updated review to know our answer to this question.
So let’s get down to business!
|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|
|Spread on EUR/USD||0 pips|
|Payment methods||Credit/Debit Card, Bank Transfer, PayPal, POLi, China Union Pay, BPay, Skrill (Moneybookers), Neteller, Qiwi, Fasapay, Broker to Broker|
|Accepts US traders||No|
|Regulated||ASIC (Australia), FCA (UK)|
|Support||Phone, Email, Live Chat|
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.
And there’s more…
There’s also the cTrader platform which is available in three different versions:
- cTrader WebTrader
- cTrader cAlgo
- cTrader Mobile
With such many options, this brokerage deserves a high Platform score of 9.4.
Pepperstone have smartly made the layout of the platforms well-organized and very easy to navigate.
How is that so?
You can easily track your positions, monitor the instrument prices and access all the tools that you need on the main trading screen.
They have done a great job in optimizing the visual aspect of their platforms and this merits a Design score of 10.
Minimum Deposit 8/10
The accepted minimum deposit to open an account and begin trading is $200.
So how does it compare?
It’s not the lowest in the industry but not the highest either so basically this is on the average range.
It is for this reason that they notched a Minimum Deposit score of 8.
Minimum Lot Size 10/10
Similar to the industry standard, the minimum lot size that they allow is 0.01.
It’s as simple as that.
For this reason, they earned a Minimum Trade Score of 10.
Tradable Assets 8.7/10
And the best part?
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 8.7.
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 Spreads score of 9.9.
Withdrawal Time 10/10
Here’s the deal:
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.
Deposit and Withdrawal Methods 10/10
Pepperstone accepts a selection of banking methods so funding the account is certainly not an issue.
Among the supported payment systems include the following:
- Credit and debit cards (Visa and MasterCard)
- China Union Pay
- Bank Transfer (Domestic and International)
- Skrill (Moneybookers)
- Broker to Broker
Such coverage warrants a Deposit and Withdrawal Methods score of 10.
Customer Support 8.8/10
The customer service department can be reached via phone support, email and live chat as well.
So how did it go?
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 8.8.
Quotes Accuracy 10/10
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.
Based on our extensive profiling of this brokerage, Pepperstone’s 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).
Additionally, we were able to find a lot of positive user comment and below are just some of them:
This kind of credibility deserved a strong Reputation score of 8.8.
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 that there is always a helpline that you can contact immediately.
To sum it all up…
Pepperstone is the online forex and CFD broker that has it all.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.