Unbiased Pepperstone review 2021: Read the facts you must know before you open a Pepperstone broker account for online trading.
Pepperstone Review for Dummies and Pro Traders
Pepperstone is one of the known providers of third-party platforms for trading. It has plenty of them for your choice. Such features as multi-social copy trading are included. Do not expect a great range of tradable assets from this platform.
The company has operated since 2010. It was launched in Melbourne, Australia. It is regulated by its home country, as well as authorities from the United Kingdom, the United Arab Emirates, and the Bahamas. The company processes around 9.2 billion dollars of trades per day for 110,000+ retail trading accounts, which is pretty impressive. This fact adds to the credibility of Pepperstone.
We can also call it a mobile app as plenty of features are available if you trade on phone or tablet. It is possible to select between MetaTrader 4 (MT4), MetaTrader 5, or the cTrader app. The adequate mobile version is the sign that you can trust this service. Overall, we can rate this platform high, but first, let’s look at some aspects in this review.
Key points to consider:
- The organization has been active since 2010. It is regulated in a couple of tier-1 jurisdictions. It means that you should not worry while trading CFDs and Forex.
- The range of assets that you can trade is limited. Do not expect plenty of options here. The prices are rather attractive for active participants of the service. Most often, the fees here are at the market average.
- It is possible to use both MetaTrader and cTrader with Pepperstone. Extra features are available to improve user experience. The additional options involve research and analysis, but this feature is not the best one in the industry.
About the Company
Currently, there are two companies operating under the Pepperstone brand. Those are Pepperstone Group Limited, which is incorporated in Australia and regulated by the Australian Securities, and Investments Commission (ASIC) with a license 12 147 055 703. An English company Pepperstone Limited is regulated by the Financial Conduct Authority (FCA) with a license 684312.
The company's website is multilingual. When you open the website from your IP address, the platform is immediately translated in your language if it is on the list. The main menu is located at the top and it is not difficult to find the needed information. The site contains a detailed description of the services provided by the company and the terms of trade. It includes a minimum set of theoretical materials and an economic calendar.
There is practically no training section at Pepperstone. The structure of the site is quite simple and there shouldn't be any difficulties in finding the information you need.
Due to more loyal margin requirements, traders from the CIS will be interested in dealing with this Australian company. The process of registering a personal account at Pepperstone takes place in several stages. First, you have to fill out the registration form, indicating your real personal and contact information. Then, fill out the application form for opening an account and upload documents confirming the identity and address of residence. After the approval of your documents, you can proceed to replenish the account.
Approaches to Depositing and Withdrawing Funds
Clients of Pepperstone Group Limited can replenish their balances via bank transfer, with payment cards, through PayPal and China Union Pay, by bank transfer through the POLi system, and through the e-payment systems Skrill and Neteller. The broker does not accept payments from third parties. It does not charge fees. However, it can be done by partner banks through which payments are made. The minimum deposit is 200 AUD.
Education & Research Features
On the site, you can find twenty-two manuals that help beginners and more-or-less experienced traders. Pepperstone has also uploaded many video tutorials, explaining the art of making money on Forex and CFDs. The number of posts is limited - less than ten so far. The experts from this company streamline webinars every month to educate the users. Those who invest more than 2,500 dollars, the platform has exclusive learning materials and trading signals from BK Forex. Both written and visual content is designed well and is rather informative. The in-house research team does a great job collecting tips and tricks for traders.
Trading Terms & Conditions
Due to different requirements set by the financial regulators, trading conditions in Australian and British companies vary significantly. The maximum leverage provided by Australian Pepperstone Group Limited is 1:500. The deposit can be opened in ten world’s currencies: AUD, USD, EUR, GBP, CHF, JPY, NZD, CAD, SGD, and HKD. Pepperstone's English division offers leverage from 1:30 on Majors to 1:10 on crosses. Four account types are available for Pepperstone Group Limited clients: "Standard," "Razor," Islamic, and those for large institutional traders - "Active Trader.”
An account like Razor is beneficial because of the minimal spreads and a fee of 35 Australian dollars per one million turnover. There are 77 trading instruments available for trading, including currency pairs, metals, oil, and indices. The average spread on the EUR / USD and GBP / USD currency pairs is 0.16 and 0.49 points, respectively (Razor account type).
Pepperstone Group Limited offers its clients to trade using cTrader terminals and MT4 terminal, which is popular among traders. There are web versions of terminals for trading in a browser, as well as mobile phone versions. A trusted management service based on MAM / PAMM accounts is available for managers. Users who prefer algorithmic trading can use robots by trading through the provided API.
Safety and Security Aspects
Both Pepperstone companies are regulated and comply with stringent regulatory requirements. According to information from the official website, clients' funds are kept in separate segregated accounts in credible banks, which excludes their misuse. Client funds are insured at Pepperstone. The maximum insurance payment is 50,000 GBP.
Client Care & Support
The customers can contact the local support service via online chat, by phone, or by mail. Technical support works around the clock, five days per week. The operator in the online chat answered almost instantly and gave useful advice. However, they only communicate in English.
Pepperstone is a good option for both beginners and serious traders with experience. ASIC regulation, in our opinion, is currently optimal. On the one hand, margin requirements are not tightened to the limit. On the other hand, non-trading risks are minimized.
A variety of methods for depositing and withdrawing funds will minimize customer costs. When opening an account with this company, it is worth noting that all financial information can be transferred to the tax authority of your country of residence. If this kind of transparency doesn't scare you off, you can consider Pepperstone as the preferred brokerage.