Pepperstone Review
Pepperstone Review
Pepperstone was founded in Melbourne in 2012 and has grown to become one of the major players in the forex broker industry.
Offering competitive commissions and fees alongside incredibly accessible and powerful trading platforms, Pepperstone is one of the most prolific and reliable forex brokers in the world. If you’re in search of a reliable forex broker, keep reading to understand how Pepperstone might be the right forex broker for you.
Regulation
Pepperstone customers should feel secure in knowing that the company is regulated by the FCA in the United Kingdom and the ASIC in Australia.
REGIONS AVAILABLE
Pepperstone is an available broker in the Forest Park FX cash back rebate program to traders in Latin America, Europe, Middle East, and APAC regions, subject to certain country-specific restrictions. Due to regulations it is not currently available to United States or Canadian residents.
Minimum Initial Deposit
Pepperstone is very accessible for new traders as the minimum deposit to open either an Edge Standard or Edge Razor account is only $200. Clients who observe Sharia law can also open a Swap-Free account at Pepperstone for just $200.
Types of Accounts
Pepperstone offers four different types of accounts: Edge Standard, Edge Razor, Edge Swap-Free, and Edge Active Traders. No matter what your needs are, one of these type of accounts is sure to fulfill them.
Edge Standard
As stated above, the Edge Standard account requires a minimum deposit of $200 and offers competitive spreads and liquidity with no commission requirements.
Standard account holders have access to Pepperstone’s many trading platforms, including cTrader, MetaTrader 4 and MetaTrader 5. Other benefits include:
- Interbank spreads starting as low as 1.0 pips
- STP processing
- Liquidity from 22 banks
- Negative balance protection
- Strong regulation
Overall, Edge Standard accounts provide customers with everything they might need to develop and implement their trading strategies.
Edge Razor
Like the Standard account, Edge Razor accounts require a minimum deposit of $200 AUD. Of course, Edge Razor account holders are granted the same benefits as Standard account holders. Other qualities of Pepperstone Edge Razor accounts include:
- Averaged EUR/USD spreads of 0.0 to 0.8 pips
- Commission rates of $3.5 AUD per 100k traded
- Maximum leverage of 500:1
- Scalping, EAs, and Hedging are all allowed
Edge Razor accounts offer customers the opportunity to benefit from flexible leverage, incredibly fast execution speeds, favorable spreads, and competitive commission rates.
Edge Swap-Free
Customers who cannot receive or pay swaps should be pleased to learn about Pepperstone’s Edge Swap-Free account. Swap-Free accounts are interest-free, offer spreads as low as 1.0 – 1.2 pips, and no commission.
Edge Active Traders
Pepperstone designed its Edge Active Traders account to reward its high-volume traders with benefits such as:
- Up to 43% savings on trading commissions
- Qantas frequent flyer program
- Access to advanced reports and insights
- Daily Autochartist signals
- VPS hosting
To open an Active Traders account, interested customers should contact Pepperstone or their Forest Park FX Pepperstone account manager.
Commissions & Fees
Pepperstone offers both commission-based and commission-free pricing models, depending on the types of account you open.
Standard accounts operate on a commission-free pricing model. Since there is no commission, spreads are inherently wider, but remain very competitive with other major brokers such as FOREX.com and IC Markets. According to Pepperstone, Standard account holders can expect spreads as low as 1.0 pips.
Meanwhile, Edge Razor accounts operate on a commission-based pricing model — offering even more competitive spreads. Depending on whether you opt to use MetaTrader 4 or Pepperstone’s cTrader platform, your fees may vary slightly. Per Pepperstone, the average EUR/USD spreads for Edge Razor accounts is an extremely competitive 0.16 pips.
Overall, Pepperstone’s multiple pricing models offer favorable options for traders of varying experience levels. Competitive spreads and low commission rates make Pepperstone an ideal broker for traders looking to minimize their fees.
Trading Platforms
Pepperstone offers an impressive suite of powerful trading platforms — the most notable of which is its own cTrader platform alongside the ever popular MetaTrader 4 and MetaTrader 5 platforms.
cTrader
Combining a highly-customizable, intuitive interface with numerous pre-sets and powerful charting capabilities, Pepperstone’s cTrader platform allows traders to easily manage their positions across multiple platforms.
Some of cTrader’s notable features include:
- Detachable charts
- Level 2 pricing
- Automated trading
- Extensive back testing facilities
Additionally, traders can utilize cAlgo to create and trade with robots developed in C#.
Thanks to its accessibility, easy to use interface, powerful charting capabilities, and automated trading support, cTrader stacks up well against proprietary trading platforms offered by other major forex brokers.
MetaTrader 4
As MetaTrader 4 (MT4) is considered by many to be the industry-leading trading platform, it should please many potential customers to know that Pepperstone offers full access to MT4.
MetaTrader 4 offers access to over 100 technical indicators in addition to Autochartist. Autochartist is an incredibly beneficial pattern recognition tool which grants traders the ability to monitor numerous instruments and markets simultaneously.
In addition to these features, users who opt to use MetaTrader 4 will have access to real-time market news updates and economic insights. With the variety of powerful resources offered by this platform, it’s no wonder why MT4 is one of the most popular forex trading platforms in the world.
MetaTrader 5
MetaQuotes, creators of the popular MetaTrader 4, have raised the bar with MetaTrader 5. While MT4 is still the most common forex trading platform due to popularity and efficacy, MT5 is sure to challenge its predecessor’s standing.
MT5 offers traders faster processing times, the ability to hedge your positions, additional technical indicators, and much more. Additionally, users who choose MT5 can take advantage of extra features, including:
- Optimized processing speeds
- 38 built-in indicators
- Advanced pending orders
- Economic calendar
- 21 timeframes
- Ability to hedge positions
MetaTrader 5 offers additional useful features to traders who are accustomed to MT4’s interface, yet are in search of more advanced capabilities.
Mobile Options
Mobile trading via Pepperstone can be done through both the cTrader and MetaTrader 4 mobile apps.
Both the MT4 and cTrader apps offer exemplary user interface and functionality. As the ability to manage positions on the go should not be overlooked, potential customers should be drawn to the advanced charting capabilities and news resources available on these mobile apps.
Whether you prefer cTrader or MT4, you should feel comfortable knowing that you have all the tools at your disposal to implement a successful trading strategy.
Additional Resources
Aside from theses trading platforms, Pepperstone provides a number of other helpful features.
API Trading
Pepperstone fully supports the implementation of automated trading systems via its Application Programming Interface (API).
By utilizing Pepperstone’s API technology, clients can access the firm’s raw liquidity feed from a network of 22 banks and liquidity providers.
API trading with Pepperstone offers a variety of benefits, including the ability to see depth of market as well as a segregated client account for your capital. Traders with a minimum of AUD $250m trading volume per month may apply for a FIX Demo Environment.
MAM/PAMM
MAM/PAMM is software designed specifically for Money Managers who use MetaTrader 4.
This software extends the capabilities of MT4 by allowing Money Managers to send trades from a master account to a sub-account via a centralized hub — allowing Money Managers to manage the accounts of all of their clients from one master account.
Pepperstone’s proprietary MAM software offers additional benefits, such as:
- 4 Allocation Methods – Lot Size, Percentage, Proportional by Balance, and Proportional by Equity
- Normal and Unique Order Types Accepted – Everything from Market Orders to Trailing Stops
- Electronic Verification
- Unlimited Customer Accounts
- Monitor Commissions and Performance in Real-Time
These are just a few of the amazing benefits Pepperstone’s MAM software offers Money Managers.
Education
Pepperstone offers its customers several educational resources which focus on helping traders understand how to trade forex. These educational resources include webinars, trading guides, and technical analysis.
Moreover, clients can access updated market analysis and an economic calendar directly from the Pepperstone website.
These additional resources are fantastic tools for traders looking to expand their knowledge and fortify their strategies.
Deposits & Withdrawals
To the benefits of its customers, Pepperstone offers a plethora of options for deposits and withdrawals, including:
- Credit card
- Broker to Broker
- Bank transfer
- Skrill
- BPAY
- Fasapay
- Neteller
- POLi
- QIWI Wallet
- Union Pay
Pepperstone makes sure to process withdrawals and deposits as quickly as possible as no one is eager to wait on their own money to be available to them.
Pepperstone customer support can be contacted through phone, live chat, e-mail. Additionally, Pepperstone customer service is available in multiple languages, including English, Spanish, French, and Arabic.
Customer Service
Timely and reliable customer service should be prioritized when choosing a forex broker. As such, it should please potential clients to learn that Pepperstone offers exceptional and timely 24/5 support.
Pepperstone customer support can be contacted through phone, live chat, e-mail. Additionally, Pepperstone customer service is available in multiple languages, including English, Spanish, French, and Arabic.
Final Thoughts
Pepperstone is a fantastic broker for traders of any level. Whether you are an inexperienced or advanced trader, Pepperstone offers the tools and resources that you need to be successful.
Starting with its incredibly powerful platforms such as cTrader alongside MT4 and MT5, Pepperstone traders have access to the most innovative and remarkably effective trading platforms on the market.
With countless tools at their disposal, Pepperstone traders should feel comfortable knowing that they have all of the necessary resources to successfully trade FX and CFDs.
Lastly, Pepperstone offers extensive educational resources to help traders develop more effective trading strategies.
