Introduction or Skip Content and Read the Bottom Line!
Pepperstone was founded in 2010. It is an online broker that is regulated by the ASIC and FCA and has a suite of platforms where you can invest on a diverse selection of assets.
Is this broker right for you or should you look for another brand? Be sure to read this review to find out.
|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|
You have the choice of trading via their MetaTrader or cTrader platforms. Each platform has its own pros and cons but what’s great here is that you have an option to choose. Each platform supports various operating systems and even offer web-based trading.
With such many options, this brokerage deserves a high Platform score of 9.4.
Both platforms can only be customized a bit by brokerages but still, the interface is user-friendly and doesn’t have too much eye-candy. This merits a Design score of 10.
Minimum Deposit 8/10
In order to trade, you need to initially fund your account with a minimum of $200. It’s a little high as compared to brokers like XM which allow a minimum deposit of just $5.
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
The number of tradable instruments that they have has improved and is now around 1200. That gives you lots of markets to explore and invest on.
Based on our scoring table, Pepperstone got a Tradable assets score of 8.7.
Spreads on Pepperstone can actually reach 0 pips so that makes it one of the lowest in the market. Such a rate warrants a Spreads score of 9.9.
Withdrawal Time 10/10
A withdrawal form must be accomplished and submitted for taking out the money form your account. If you can send it before 07:00 AEST, it shall be processed on the same day. If not, then it gets processed on the next working day.
Such speed deserves a Withdrawal Time score of 10.
Deposit and Withdrawal Methods 10/10
Different payment methods can be used for adding funds into your Pepperstone account:
- Credit/Debit cards
- Bank transfer
- China Union Pay
- Skrill (Moneybookers)
- Broker to Broker
Such coverage warrants a Deposit and Withdrawal Methods score of 10.
Customer Support 8.8/10
Phone, email and live chat are your options for contacting the support department.
Our tests on the client support was satisfactory. Their professionalism and politeness were commendable and for this they notched a Support score of 8.8.
Quotes Accuracy 10/10
Regardless if the market is volatile or flat, the quotes from their platforms are accurate. We found no issues or lags with the prices displayed.
This warrants a Quote Accuracy Score of 10.
There’s a lot of good comments from online traders about this broker and below are just some of them:
This kind of credibility deserved a strong Reputation score of 8.8.
What we liked about Pepperstone is that they have a good selection of platforms and all of these provide good trading conditions. Their license from regulators indicated that they are trusted and reliable so you can invest on over 1200 markets without worrying of getting scammed because they are supervised by a financial watchdog.
So is it safe to trade with Pepperstone? Without a doubt, yes.
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.