| 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 |
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.
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. It may not be as many as what other brokers offer like eToro which has over 1,000 instruments but the great thing about Pepperstone is that they have the most popular ones included in their platforms. Based on our scoring table, Pepperstone got a Tradable assets score of 3/5.
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.
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 14/15.
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 18/20.
Conclusion
Final Score: 91/100
Pepperstone
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
Yes. Last year it was only around 70 so there’s plenty of markets to explore 😃
Nice to know that they have increased their number of markets. It’s currently around 150+
@Belle, the Active Trader program allows you to earn forex cash rebates which is based on the standard lots you’ve traded monthly so basically, if you trade more, you’re rebate will be higher. The great thing about this is that you’ll get the rebate daily into your account after you’ve closed the position.
Has anyone availed Pepperstone’s Active Trader program? I’d like to know more about this.
How can you describe the spread offer of Pepperstone?
Hello there Ronin Trevor, I am just a beginner with Pepperstone but in an average, I was able to profit more than $400 a month but the risk was high as well. The profit really depends on you.
How much profit you are making under this broker? Were you able to make a $400 profit every month with Pepperstone?
Pepperstone have variable low spreads with up to 1:500 leverage which made trades more profitable.
Can you determine which spreads do you enjoy using when trading with pepperstone?
I use the highly dependable Neteller on my transactions with Pepperstone.
I use Paypal in depositing money into Pepperstone and sometimes I use Skrill. Its quick and hassle-free.
What payment method you are using with pepperstone?
I also like the varying payment methods you can use with Pepperstone, they don’t charge that much.
I have been trading for quite sometime now, and I think that Pepperstone was one of the quickest when you talk about withdrawals.
I never thought that the withdrawals from Pepperstone is fast, I no longer want to trade with my old broker.
I love how Pepperstone manage withdrawal request, it is quick and easy, you will get your money within a day.
They are highly reliable in terms of withdrawal and request processing. Thumbs up to them.
Pepperstone is actually one of the fastest withdrawal processing in the forex industry, sometimes it only took them 24hours to process your request.
Are they processing the withdrawal in a quick manner?
Yes they do have one of the fastest trade execution I have ever encountered. I have been trading with other online broker and I can tell there is a big difference.
How about the trade execution? Was it faster than usual broker online?
At first glance, Pepperstone are serious about their regulation and they are following the strict rules of ASIC so I don’t think that there is anything that will go wrong with this broker.
I never had any bad experience with Pepperstone because I made sure that I am trading with a regulated broker.
Have you had a bad trading experience with pepperstone? New trader here, asking for help.
The quote accuracy so far was close to the accurate market results online. Almost in sync with most leading brokers.
What have you noticed regarding the quote accuracy their platform has provided so far?
They don’t have the 1:750 leverage for forex pairs?
The really have a low spread and the leverage is up to 1:500 which is nice for profit-making.
What are some of the special trading features from Pepperstone? Do you like the leverage they offer?
Hi Mignon, if they are regulated by ASIC, people from down under are more protected when making trades with this broker.
Base on the regulation granted to Pepperstone, Australian traders can access and open an account with them without a breeze, right?