Pepperstone Review 2022 : A Comprehensive Review of The Broker

In this review, We will explain the unique features of Pepperstone. You will learn about the different trading instruments, trading platforms, and the trading conditions on the broker. The funding options and other services it offers will also be explored.

regulation

Regulated By

FCA & ASIC

users

Used By

1,000,000+ Users

Established

Established in

2010

PepperStone Logo Visit Broker

74.7% of retail cfd accounts lose money.

*Other fees may apply.

Spreads From

EURUSD 0 Pip Points

What Can You Trade?

  • Forex
  • Stocks
  • Indices
  • Commodities
  • ETFS

Platforms

cTraderMT4MT5

Funding Methods

BankVisaMastercardPayPal

Pepperstone Review 2022 : A Comprehensive Review of The Broker

In this review, We will explain the unique features of Pepperstone. You will learn about the different trading instruments, trading platforms, and the trading conditions on the broker. The funding options and other services it offers will also be explored.

  • author Raifu Tobi
  • Last updated 21/10/2022

Visi Broker

74.7% of retail cfd accounts lose money.

regulation

Regulated By

FCA & ASIC

users

Used By

1,000,000+ Users

Established

Established in

2010

Spreads From

EURUSD 89 Points

Platforms

cTraderMT4MT5

What Can You Trade?

  • Forex
  • Stocks
  • Indices
  • Commodities
  • ETFS

Funding Methods

BankVisaMastercardPayPal

Introduction

Pepperstone Review 2022

Founded in 2010, Pepperstone is an online CFD broker that has grown rapidly into one of the largest MetaTrader brokers in the world. It has offices in London, Dusseldorf, Limassol, Melbourne, Nairobi, and Dubai. It has more than 300,000 clients across the globe. The company is authorised and regulated by the FCA, CYSEC, BaFin, ASIC, CMA, and SCB. Pepperstone segregates its client funds with tier 1 banks, and also offers many secure, fee-free funding methods to suit your needs.

You can trade more than 1,200 financial instruments on this broker, which include forex, commodities, shares, indices, ETFs, and indices. It has different trading platforms, including the cTrader, MT4, MT5 and Duplitrade.

Starting with the main features, this review will explore the different financial instruments you can trade on the broker’s platforms. You will also learn about the trading conditions, fees & commissions, and the funding options available. The pros and cons of the broker won’t be overlooked so that you can know the best part and the shortcomings of Pepperstone.

We will also give you details about the research tools and educational materials that the broker provides for all kinds of traders. In the concluding part of the review, you will know more about its reputation, and the kind of customer service you will receive while using Perpperstone. Answers will also be provided to all the necessary questions about the company. Read on to find out more!

Disclaimer: Broker Comparison Ltd does not provide investment advice. The information provided is of a general nature and does not address the circumstances of any particular individual or entity. You should always check up-to-date fee and charges information with any broker prior to making any trade. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information that has been provided. If you are unsure of anything, you should seek financial advice from an authorised advisor.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. Losses may exceed the value of your position. You should consider whether you understand how derivatives work and whether you can afford to take the high risk of losing your money. Capital at risk.

Pepperstone at a Glance

Pepperstone Review 2022

Pepperstone is a liquidity provider that gives you access to raw spreads. The broker executes in less than 30 milliseconds, an ideal execution speed for scalpers and clients that use EA. There is a 24/5 support system and different kinds of trading resources on Pepperstone. It also rewards clients with high-volume trading by giving them cash rebates, which are paid daily, through its Active Trader Programme.

As a regulated broker by the FCA and under the FSCS compensation plan, Pepperstone will return retail clients’ money in the unlikely event of liquidation by the broker or their bank. Retail clients will receive an amount of up to 85,000 GBP. The FSCS acts as a ‘safety net’ for clients of FCA-regulated firms such as Pepperstone.

The Market Analysis section of the broker’s website is updated by their Market Analysts, and it features articles about the technical and fundamental analysis of financial instruments. The article section is updated on a weekly and daily basis. The Head of Research on Pepperstone is Chris Weston. Furthermore, the broker has been featured on other news media. It has been featured in The Guardian, Cision PR Newswire, Finance Magnates, The Times of India, and many more.

Pepperstone Main Features

The broker also offers some great features, which is common to what most brokers in the UK offer. Its main features range from social trading, numerous financial instruments, advanced trading tools, and a variety of trading platforms.

This section of the review will look in more detail at each of the main features.

Social Trading

The broker has made it easy for its users to follow and copy trades from popular traders through its social trading platform. You can use the service of a third party while learning how to improve your trading skills.

Pepperstone has partnered with a range of social platforms to help you access strategies from other traders across the globe. Pepperstone uses Duplitrade as its social trading platform. DupliTrade is a popular trading strategy marketplace that allows you to automate your trading. You can diversify your investment with DupliTrade. It uses signals from proprietary traders, tapping into their trading performances, which enables you to see how they approach the market.

You can start with a minimum deposit of 5,000 GBP and you will gain access to the DupliTrade portfolio of strategy providers. The strategies will be automatically traded on your MT4 account. You can also practise the strategies on your demo account.

Spread Betting

Pepperstone offers spread betting, which is a tax-efficient way of trading thousands of financial instruments, including forex, commodities, indices, and treasuries. Spread betting allows investors and traders to open a long or short position on a market without having to buy or sell the underlying asset. Your trades may be tax-free with spread betting, depending on your personal circumstances/

It is similar to CFD, as they are both margined products. They are both leveraged, which means you can open a large position while putting up a small percentage of the full value of the trade. But the main difference is that they are taxed differently.

It is paramount to note that both CFD and spread betting are considered risky, you must understand the risk associated with CFD trading and spread betting before considering a trading journey/career.

Wide Range of Trading Platforms

The company offers a wide range of trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader. The broker offers its clients the opportunity to trade on the industry-leading MetaTrader 4, the advanced trading platform; MetaTrader 5 and cTrader. They are all available on mobile, desktop, and web. You can use them on your Windows, Android, Mac, and iOS devices.

The diversity in the kind of trading platforms on the broker allows beginner traders to get acquainted with both the basic and advanced charting & trading tools. Other traders with more years of experience can also get to choose their preferred trading platforms. As the trading world is moving to the use of algorithms, the advanced trading tools on Pepperstone are built to be compatible with the latest algorithms.

Numerous Trading Instruments

There are 1,200+ trading instruments on Pepperstone, including 60+ currency pairs, indices, 900+ shares, 100+ ETFs, 30+ commodities, and 5+ currency indices. You can trade each financial instrument on the different trading platforms. They can also be traded with leverage, which is a borrowed fund used to open a position on any instrument. Clients from the UK can trade with a maximum leverage up to 1:30. Each of the instruments comes with spreads, and the spreads on Pepperstone are quite low. You can trade with zero spreads on this broker.

Advanced Trading Tools

There are different kinds of trading tools that can help you manage your trading risk, improve your trading strategies, and stay in the know on Pepperstone. The trading tools include the smart trader tools, cTrader-automate, Autochartist, Algorithmic trading, API trading, and VPS hosting.

The smart trader tools package is a suite of tools that help improve trading execution and management on MT4 and MT5. You can optimise your trading strategy, manage risk, and enhance your overall trading experience with 28 smart trading apps, including indicators.

Smart trader tools are a set of expert-like tools designed to help you unlock your full trading potential. They are easy to use, install, and access and are exclusive to the world’s most popular and powerful trading platforms, MT4 & MT5. These tools are advanced alarms, with the latest functions and market data integrated within the MetaTrader interface, to make your trading experience worthwhile and more enjoyable.

cTrader automate is another tool you can use to test your trading strategy. It allows you to backtest and optimise your trading strategies by building automated trading robots and custom indicators using the highly functional cTrader API and the popular C language. It was formerly known as cAlgo, and it is an algorithmic solution that is integrated with cTrader and works seamlessly alongside all other functionalities of the platform.

The API is a well-designed tool for margin trading. It uses a programming language that can be read by both developers and traders. The functionality of the API is extensive and supports everything relating to forex and CFDs trading.

Autochartist is a trading tool that helps you to focus on the trade by removing market noise and highlighting the currency pairs, data intervals, and technical indicators that signify key market events.

Algorithmic trading is another trading tool on Pepperstone that enables you to access market opportunities through automated trading. The broker provides automated trading solutions, whether you are in the market to buy an EA and backtest your strategy, or interested in coding your own EA.

Pepperstone also supports automated trading via API – Application Programming Interface. The technology is ideal for traders that use automated trading systems or develop their custom-built systems.

Virtual Private Server (VPS) hosting enables traders to run automated algorithmic strategies, including EA (expert advisors) 24 hours daily on a weekly basis on a virtual machine. It minimises the chance of system downtime due to technology and connectivity failures.

Pros of Pepperstone

  • Multiple Trading Platforms: The broker has multiple trading platforms that range from the industry-leading MT4 to advanced MT5 and cTrader. Also, it has a social trading platform where you can copy other traders’ strategies.
  • A Wide Range of Trading Instruments: There are different trading instruments you can trade on this broker. You can trade shares, commodities, indices, forex, and ETFs. All of these products can be traded as CFDs and with leverage. They also come with spreads.
  • Highly Regulated: The broker is authorised and regulated by the top-tier FCA, CYSEC, ASIC, and others. It is authorised in different countries across the globe.
  • Multiple Trading Tools: Pepperstone has made it easy for you to analyse and trade the market by providing a plethora of trading tools. Some of the trading tools include smart trading tools, cTrader automates, Autochartist, Algorithmic trading, VPS hosting, and many more.
  • Excellent Customer Service: The broker offers great customer support as you can contact them through different means. The customer support is super responsive as they resolve all complaints/inquiries in no time.
  • Easy and Free Deposit and Withdrawal: You can deposit and withdraw using different payment methods. You will not incur any fees when you make a deposit or request for withdrawal.
  • Account Opening Process: Creating an account with Pepperstone is quite straightforward. The process can be done on your mobile device. You will need to submit some documents for verification.

Cons of Pepperstone

  • Only Offers CFD: Most of the products on the broker are CFDs. Pepperstone doesn’t offer its service to investors that want to invest in shares without speculating on the price movement.

Trading Options on Pepperstone

Pepperstone has 1,200+ trading instruments you can trade as CFDs. The trading instruments include 900+ shares, 30+ commodities, 60+ currency pairs, 5+ currency indices, 100+ ETFs, and 10+ indices. You can trade all these instruments as CFDs and Spread betting with leverage. They are all available on cTrader, MT4, and MT5.

The maximum leverage to trade these financial instruments in the UK is up to: 1:30 for forex pairs, 1:20 for indices, 1:20 for gold, 1:10 for other commodities, and 1:5 for shares & ETFs.

The broker also offers premium service for professional traders. Professional clients will have access to higher leverage, a dedicated relationship manager, an active trader programme, large-size execution, premium reward, and credit facilities.

Professional clients have access to leverage up to 1:500, while retail traders will have access to maximum leverage up to 1:30. It is important to know that you will lose your retail client protection if you apply for a professional account. Here are the retail client you will lose when you apply for a professional account;

  • Negative balance protection won’t apply to you.
  • The sophisticated language will be used when communicating with you.
  • Pepperstone will assume you have the relevant level of experience when deciding whether their products are appropriate for you.
  • Leverage restrictions won’t apply to you.

Note that beginner traders can not be regarded as professional clients and can’t apply for professional accounts as they lack market experience.

Forex Trading on Pepperstone

Forex pairs are of three categories on this broker, and they include major, minor, and exotic pairs. There are 60+ currency pairs in total. You can trade the major forex pairs with a maximum leverage up to 1:30 and trade minor & exotic pairs with a leverage up to 1:20.

Trading forex comes with spread, and the spread you incur while trading forex depends on the kind of trading account you use. The minimum spread you will incur on a CFD razor account is from 0.00 pips on EUR/USD, while the spread on a CFD standard account is from 0.6 pips on EUR/USD. You will also incur spread with spread betting, which starts from 0.7 pips on EUR/USD.

The table below shows the different kinds of currency pairs on Pepperstone, alongside leverage and spreads on the various account types.

Forex Pairs Leverage (Up to) Spread on CFD Razor (From) Spread on CFD Standard (From) Spread on Spread Betting (From)
Major Pairs
EUR/USD 1:30 0.00 pips 0.6 pips 0.7  pips
GBP/USD 1:30 0.00 pips 0.6 pips 0.9 pips
USD/JPY 1:30 0.00 pips 0.6 pips 0.8 pips
USD/CHF 1:30 0.00 pips 0.6 pips 1.0 pips
AUD/USD 1:30 0.00 pips 0.6 pips 0.7 pips
USD/CAD 1:30 0.00 pips 0.6 pips 1.3 pips
EUR/GBP 1:30 0.00 pips 1.0 pips 0.9 pips
Minor Pairs
CAD/CHF 1:20 0.3 pips 1.3 pips 1.3 pips
CAD/JPY 1:20 0.00 pips 1.0 pips 1.0 pips
CHF/JPY 1:20 0.00 pips 1.0 pips 1.0 pips
EUR/CAD 1:20 0.4 pips 1.4 pips 1.4 pips
EUR/JPY 1:20 0.00 pips 1.0 pips 1.0 pips
EUR/CHF 1:20 0.00 pips 1.0 pips 1.0 pips
Exotic Pairs
EUR/HUF 1:20 0.0 pips 1.0 pips 1.2 pips
EUR/MXN 1:20 14.0 pips 15.0 pips 1.0 pips
GBP/TRY 1:20 0.00 pips 1.0 pips 1.0 pips
SEK/JPY 1:20 6.0 pips 7.0 pips 1.4 pips
USD/CNH 1:20 5.0 pips 6.0 pips 7.0 pips
USD/RUB 1:20 0.00 pips 1.0 pips 2.2 pips

Indices Trading on Pepperstone

You can trade the movement of major stock market indices around the world with sharp pricing, low spread, and fast execution on Pepperstone. The maximum leverage available to trade indices on this broker is up to 1:20. Some of the indices include GER40, UK100, FRA40, SPA35, GERTEC30, NOR25, SWI20, US30, US500, VIX, and US2000.

There are indices from different parts of the world, which include UK, Europe, America, APAC, & Africa. Index trading also comes with spread, and the minimum spread of trading indices is from 0.6 pips. You can trade indices in the following trading hours BST (British Summer Time); 01:15 – 07:00, 08:00 – 16:30, 21:00 – 01:00, and all other hours.

The table below shows the different indices from different parts of the world, alongside their leverage and spreads.

Indices Leverage (Up to) Spread (From) Trading Hours (BST)

UK & Europe

Germany 40 Index (GER40) 1:20 0.9 pips 01:15-07:00, 08:00-16:30, 21:00-01:00, and all other hours
UK 100 Index (UK100) 1:20 1.0 pips 01:00-07:00, 08:00-16:30, 21:00-01:00, and all other hours
France 40 Index (FRA40) 1:20 1.0 pips 08:00-21:55
Spain 35 Index (SPA35) 1:10 2.0 pips 07:00-16:30, 18:30-21:00, and 21:00-09:00
EU Stocks 50 Index (EUSTX50) 1:20 1.5 pips 01:15-07:00, 09:00-23:00, and 23:00-03:15
Germany Tech 30 Index (GERTEC30) 1:10 3.0 pips 09:00-17:25
Germany Mid 60 Index (MidDE60) 1:10 8.6 pips 09:00-17:25
Netherlands 25 Index (NETH25) 1:10 0.33 pips 08:00-21:45
Norway 25 Index (NOR25) 1:10 1.32 pips 09:00-14:15
Switzerland 20 Index (SWI20) 1:10 3.6 pips 08:00-21:45

America

US Wall Street 30 Index (US30) 1:20 2.4 pips 08:00-14:30, 14:30-21:00, 22:01-23:00, and all other hours
US 500 Index (US500) 1:20 0.4 pips 22:01-23:00, 14:30-21:00, and all other hours.
US Tech 100 Index (NAS100) 1:20 1.0 pips 23:00-14:30, 14:30-21:00, and all other hours.
US 2000 Index (US2000) 1:10 0.3 pips 22:01-23:00 and 01:00-23:59
US Volatility Index (VIX) 1:10 0.16 pips 22:01-21:59
Canada 60 Index (CA60) 1:10 1.04 pips 14:35-21:00

APAC & Africa

Australian 200 Index (AUS200) 1:20 1.0 pips 22:50-05:30 and 08:10-23:00
Japan 225 Index (JPN225) 1:20 8.0 pips 21:00-23:00, 01:00-02:30, and 02:30-23:00
Hong Kong 50 Index (HK50) 1:10 5.0 pips 02:15-20:00 and 22:00-03:15
China 50 Index (CN50) 1:10 10-24 pips 02:00-09:30, 12:00-23:15, and all other hours.
Singapore 25 Index (SCI25) 1:10 0.1 pips 00:30-18:00 and 20:00-02:30
South Africa 40 Index (SA40) 1:10 8.6 pips 07:30-16:25
Hong Kong China H-Shares Index (CHINAH) 1:10 10 pips 02:15-05:00, 08:00-11:30, and 12:15-20:00

Commodities Trading On Pepperstone

There are 30+ commodities you can trade on Pepperstone. They are categorised into four; major metals, energy, soft commodities, and other Gold/Silver. Some of the commodities include Gold, Silver, Natural gas, Sugar, Palladium, and Platinum.

Up to 1:20 leverage is available to trade Gold, while other commodities can be traded with a leverage up to 1:10. The starting spreads on commodities differ. Gold has a minimum spread from 5.0 pips, while Brent and sugar spreads start from 2.27 pips and 4.2 pips respectively.

The table below shows the various commodities with their minimum spreads and maximum leverage.

Commodity Leverage (Up to) Spread (From)
Gold (XAUUSD) 1:20 5.0 pips
Silver (XAGUSD) 1:10 0.5 pips
Platinum (XPTUSD) 1:10 0.85 pips
Palladium (XPDUSD) 1:10 11.37 pips
Copper 1:10 2.6 pips
Crude Oil 1:10 2.0 pips
Brent Oil 1:10 2.0 pips
Natural Gas 1:10 1.2 pips
Gasoline 1:10 8.0 pips
Cocoa 1:10 5.0 pips
Coffee 1:10 0.3 pips
Corn 1:10 1.32 pips
Cotton 1:10 0.16 pips
Sugar 1:10 4.2 pips
Wheat 1:10 0.8 pips

Shares Trading on Pepperstone

The company has 900+ shares you can trade as both CFDs and spread betting. You will gain exposure to a wide range of UK, US, German, and Australian shares with a maximum leverage up to 1:5. When trading share CFDs, you only trade the direct underlying exchange prices with a small commission per trade. In addition, you will pay spread on the market bid/ask price. However, when you trade share spread bets, you will incur a tight spread on the market bid/ask price without paying commissions.

The commission per side varies, depending on the country of the share. UK shares have a commission of 0.10%, German shares 0.10%, Australian shares 0.07%, and US shares have a commission of 0.02$ per share. The minimum amount of shares you can trade is 0$ for US shares, 10 GBP for UK shares, 10 EURO for German shares, and AUD$5 for Australian shares. The retail margin rate is 20% for all shares, and there is a fixed spread of 0.10% on all shares. You can revert to the broker’s website for more information.

The shares on this broker cut across different countries’ sectors, including Basic materials, Communication Services, Consumer Cyclical, Consumer defensive, Energy, Financial, Healthcare, Industrials, Real estate, Technology, and Utilities. The shares from the UK are listed on the London Stock Exchange (LSE), and the shares from the US are listed on the New York Stock Exchange (NYSE) and NASDAQ.

Pepperstone’s share CFDs and Spread Bets can only be traded on the MetaTrader 5 trading platform.

Shares from different countries and sectors alongside their leverage are listed in the table below.

Shares Leverage (Up to)

UK London Stock Exchange (LSE)

Anglo American plc (AAL) 1:5
Antofagasta (ANTO) 1:5
Glencore (GLEN) 1:5
Rio Tinto (RIO) 1:5

US New York Stock Exchange (NYSE)

Domino’s Pizza (DPZ.N) 1:5
Ford Motor Company (F.N) 1:5
Lucid Group Inc. 1:5
NIKE Inc. (NKE.N) 1:5

US NASDAQ

Advanced Micro Devices Inc. (AMD.O) 1:5
Analog Devices Inc. (ADI.O) 1:5
Apple Inc. (AAPL.O) 1:5

German Shares

HeidelbergCement (HEI.DE) 1:5
Aurubis AG (NDA.DE) 1:5
LEG Immobilien AG (LEG.DE) 1:5

Australian Shares

Bendigo and Adelaide Bank (BEN.AX) 1:5
Commonwealth Bank of Australia (CBA.AX) 1:5

ETF Trading on Pepperstone

Exchange traded funds (ETF) are also available on Peppersone and there are 100+ of them. They can be traded with a leverage up to 1:5. You can only trade ETF CFDs on the direct underlying exchange prices with no additional mark-ups added to the bid/ask price as the spread. Instead, you will have to pay a $0.02 commission per share, per trade. In addition, you will pay swap rates if you hold your positions over consecutive days.

The ETFs available on the broker are from different continents in the world, including the UK, Europe, Asia & Pacific, North America, South America, Africa, and the Middle east. The ETFs also cut across different market sectors, including banking and Financial, Bonds, Emerging markets, Energy & Industrials, Indices, Mining & Commodities, and Technology & Innovation.

The table below shows some ETF CFDs from various regions you can trade on Pepperstone, alongside their maximum leverage.

ETFs Symbol

Asia Pacific

Global X MSCI Pakistan ETF PAK.P
iShares China 25 ETF FXI.P
iShares MSCI Australia ETF EWA.P

North America

iShares Core US Growth ETF IUSG.P
iShares MSCI Canada ETF EWC.P
iShares Select Dividend ETF DVY.O

South America & Africa

iShares MSCI Brazil Capped ETF EWZ.P
iShares MSCI Chile Capped ETF ECH.N
iShares MSCI South Africa ETF EZA.P

UK, Europe, & Middle East

Global X MSCI FTSE Portugal 20 ETF PGAL.P
iShares Europe ETF IEV.P

Currency Indices Trading on Pepperstone

The USDX is the most traded currency index and it is globally recognised. The broker has currency indices as part of its trading instruments. Currency index measures the direct change in the value of a currency against a basket of other currencies. It is different from a currency pair in the sense that there must be more than one other currency that the main currency is being measured against.

USDX is the benchmark for the US dollar value. It can be traded as a CFD with a leverage up to 1:5 for retail clients. It is mostly weighted toward the major currencies such as the Euro, Pound, and Yen – with 5+ currencies making up the basket the US Dollar is measured against. USDX has a spread from 6.0 pips.

Euro index (EURX) and Japanese Yen index (JPYX) are the other indices you can trade on Pepperstone, and they have a spread from 0.6 pips and 1.0 pips respectively, with a contract size of 100.

The table below shows the different currency indices along with their minimum spreads, contract size, and maximum leverage.

Currency Indices Contract Size Spread (From) Leverage (Up to)
US Dollar Index (USDX) 100 6.0 pips 1:5
Euro Index (EURX) 100 0.6 pips 1:5
Japanese Yen Index (JPYX) 100 1.0 pips 1:5

Pepperstone Fees and Commissions

There are two kinds of fees on this broker, trading and non-trading fees. We will be exploring each of them in this section of the review.

Trading Fees

Pepperstone charges spreads, commissions, and swap rates when you trade on its platform. The spreads you will incur on all its trading instruments differ, depending on the type of account you are using to trade. It also depends on whether you are trading CFD or Spread betting. GBP/USD, one of the most common forex pairs in the UK, has a spread: from 0.0 pip on the CFD razor account, from 0.90 pips on spread betting, and from 0.6 pips on the CFD standard account. The UK100 has a spread from 1.0 pips on CFD trading and spread betting. Gold has a minimum spread from 5.0 pips, and Apple has a Spread bet minimum from 0.8% + market spread.

You will also be charged commissions when trading forex and CFD equities on a Razor account. The commissions differ, depending on the kind of trading platform you are using. You will incur a 2.25 GBP (4.5 GBP round turn) commission per 1 lot when you trade on MT4 and MT5. On cTrader, you will be charged 4.82 GBP round trip commission. This means that if you open a 1 lot size position on GBP/USD, the commission charged will be 2.41 GBP to open the contract and 2.41 GBP to close out the contract. If your trading account is not in GBP, the broker will convert the cost based on current foreign exchange conversion rates into your nominated account currency.

And lastly, there is a swap rate, which can be earned or paid. It is a rollover interest for holding CFD or spread bet positions overnight. The interest adjustment will be made into your account, debit or credit, to reflect the cost of funding your position.

Non-Trading fees

There are no non-trading fees on Pepperstone as the broker does not charge deposit and withdrawal fees. You will also not incur any inactivity fee in case you decide to take a break from trading.

Pepperstone Trading Platforms

There are four trading platforms you can use on this broker, and they include MetaTrader 4, MetaTrader 5, and cTrader. MT4, MT5, and cTrader are all available on desktop, and mobile platforms. You can access any of the trading platforms on your iOS, Windows, and Android devices. Your favourite instruments can also be traded on all the trading platforms, but you can only trade shares on the MT5.

We will explore each of the trading platforms in this section of the review and you will be able to find out more about how to use them.

Desktop Trading Platform (MT5)

Pepperstone Desktop Trading Platform

The MetaTrader 5 has fast processing times, advanced pending orders, the ability to hedge your positions, and new tools and indicators to help you take your trading to the next level. It provides you with exceptional features that help you stay ahead of the market.

The desktop platform has advanced platform customisation, easier to use and code using the MQL5. It gives you access to smart trader tools and autochartist, and it is optimised for processing expert advisors and indicators.

Look and Feel

It has more advanced financial trading functions, with superior tools for analysis. It is the easiest platform to understand as it is well designed and equipped with advanced trading tools. You can personalise your trading charts and arrange windows as non-overlapping tiles to watch multiple charts at the same time.

Security Features

The MT5 has only one-step login, and that allows you to access your trading charts quickly without waiting for more authentication. Albeit, the two-step authentication is more secure.

User Experience

The desktop platform has optimised processing speeds, a built-in economic calendar, and 38 inbuilt indicators. You can open a maximum of 500 orders in total. The platform also has 21 timeframes and advanced pending orders. It is compatible with autochartist and smart trader tools. You can as well create an alarm at any set price.

When compared to the MT4, the MT5 has more advantages over the MT4 in terms of the programming language. The MT5’s MetaQuotes Language (MQL5) has the following advantages over the MT4’s MQL4: object-oriented programming similar syntax to that of the C++ programming language, improved debugging tools, and advanced events management model.

How To Open a User Account on Pepperstone Desktop Trading Platform

Pepperstone Account Opening

  • Enter your email address, password, and select the account type and your country of residence. Click on ‘Sign Up’ once you are done filling the page.

Pepperstone Review - Account Opening

  • You will be directed to the application page, where you will be asked to fill in your personal details, trading preferences, employment & income, declaration, and verification. The verification phase will require you to upload your ID and proof of address. Fill in those details and submit your application. You will receive an email once your application has been approved.
  • Click on “Account” to create a new trading account. Click on Live and select your preferred account type and platform type (MT5 in this case). Choose your preferred base currency, and you can fill in your nickname as well, then click on submit. Note that you can only create a live account after you have completed the application and verify your account.

Pepperstone Review - Account OpeningPepperstone Review - Account Opening

  • To download the MT5, click on “Platform.” You will see MT5, MT4, cTrader, and other platforms.

Pepperstone Review - Account Opening

  • Select MetaTrader 5 and click on either “Mac” or “Win” to download the platform on your desktop.
  • Launch the application on your desktop, enter the MT5 login details sent to your email.
  • Fund your account with any of the available payment methods and start trading.

Mobile Trading Platform

Pepperstone Mobile Trading Platform

The MT5 is available on mobile devices. It is user-friendly and slightly different from the MetaTrader 4. It has more advanced features than the MT4 and cTrader. MT5 has four order types, which include the Market Execution, Limit order, Stop order, and Stop Limit Order.

You can also customise your chart on the MT5 mobile platform. It is available on both Google Play and Apple Store.

Look and Feel

The MT5 is well designed with better features. You can easily locate the tabs at the bottom of the app. It has a beautiful interface.

Security Features

It only has one-step login authentication, just like the desktop platform. You can acces your trades by just tapping the app on your phone without having to verify your authenticity.

User Experience

The MT5 is for all kinds of traders. If you like the MT4, you might want to try out the MT5 as well. It has more interesting features and a more intuitive interface than the latter. You can place a trade on your chart by tapping the chart and clicking on ‘Trade.’ You will be taken to the order page where you can set your exit and entry on the trade. You can also choose to use any of the order types to execute your trade.

Another amazing feature about the MT5 is that it signifies your entry and exit on a pair by marking your entry and exit with an arrow. That is good for post analysis of the trade. Furthermore, traders can search for any instrument by entering the symbol of the instrument in the search space under Quotes.

Pepperstone Mobile App

In addition, you can customise your chart by clicking on the chart tab, tap the screen on your chart and click on settings. You will be directed to a page where you can change the chart to your preferred chart. You can add indicators to your chart, change the colour of your candle sticks, add volume, and many more.

Pepperstone- Mobile App

How to Trade on Pepperstone Mobile Trading Platform (MT5)

  • Open the Google Play or Apple Store app on your mobile device and search for “MetaTrader 5.”
  • Download the MT5.
  • Open the app and enter your account login details. Your MT5 login details will be sent to your email after opening an MT5 account type.
  • To enter your MT5 login details, click on the settings tab. Click on New Account, enter ‘Pepperstone’ in the search space and select Pepperstone UK.
  • Select the server type and enter the server name in the MT5 login details sent to you. Input the account number and password as well, and click on login.

Pepperstone Mobile Demo Account

  • Once your account is logged in, you will be able to see your account balance when you click on the Trade tab.

Pepperstone Account balance

  • To open a trade, click on the Chart tab, select the pair you want to trade and click on Trade.

Pepperstone Mobile Trade

  • Fill in the lot size and exit price and click on buy or sell depending on your analysis.

Pepperstone make a trade

Different Types of Accounts

There are two types of accounts on Pepperstone. A Razor account with tight spreads and a standard account with no commission.

Razor Account

The Razor account has low spreads from 0.0 pips plus commission based on volume. It is commonly used by advanced traders and scalpers and is the most popular account for traders outside the UK. You can use the account on MetaTrader 4, MetaTrader 5, and cTrader.

If you want the lowest fees when you trade, the Razor account is a good account to use, especially if you trade high volumes. You will also be eligible for commission discounts through the active trader program.

Standard Account

This is the ideal account for beginner traders, who prefer a low minimum deposit. The minimum deposit on this account is 10 GBP. It has no commission, but its spreads are high. The spread is from 0.6 pips. It is popular among traders in the UK, and you can only use it on MT4 and MT5.

Payment Methods

There are four methods of payment that you can use to deposit and withdraw on this broker, and they include Credit card (Visa & Mastercard), Debit card (Visa & Mastercard), Bank Transfer, and Paypal. Pepperstone does not charge any additional fees on deposits and withdrawals. It is important to note that you may incur fees on payments to and from some non-UK banks. The broker will pass any transfer fees charged by the client’s bank or by their bank onto your account. That mostly applies when you transfer funds from banks outside the UK.

We will explain in more detail the payment methods in this section of the review.

Deposits and Withdrawals

The minimum deposit on the broker is 10 GBP. Depositing through credit card (Visa and Mastercard), debit card (Visa and Mastercard), and Paypal are immediate, while bank transfers take the same day to three (3) working days. Withdrawals in general take 1 – 3 working days, regardless of the payment method you are using. Withdrawals might take longer than usual in unforeseen circumstances, such as bank holidays.

Note: Pepperstone cannot accept payments from third parties. Make sure that you deposit into your trading account from a bank account in your name. The broker will allocate payments from Joint Bank Account, credit cards, debit cards, and Paypal if the trading account holder is one of the account owners.

The broker will only return funds to a bank account, Paypal account, credit card, and debit card in the same name (or joint) as your trading account due to their third-party transaction regulations.

It is also possible to request to transfer funds to Pepperstone directly from other FCA-regulated brokers based in the UK. All you have to do is to input the bank details on your Secure Client Area and add your name or trading accounts as a reference.

Security of Funds

As a fully FCA authorised and regulated broker, Pepperstone is a member of the FSCS, the UK’s compensation scheme. The broker holds clients’ funds in segregated bank accounts at several banks across the UK, which include Natwest and Barclays. By doing this, the broker ensures that the money remains identifiable as ‘client money’ so that the company and its creditors will never have any charge or retention over it.

Research and Education

Pepperstone provides a variety of powerful trading tools, exclusive insights, and educational articles to assist its clients’ quest for trading mastery. As a beginner trader, you will find their trading articles, trading guides, and research tools helpful.

This section of the review will explain more about the research tools and education aids the broker provides.

Research

Pepperstone Review 2022 - Research

There is an analysis section on the broker’s website, which you can use to research the market and carry out a technical and fundamental analysis. There are six (6) trading tools that can help you improve your trading strategies, manage your trading risk, and stay in the know. The market analysis section has a lot of trading ideas, traders’ thoughts and weekly outlooks that can be beneficial to your trading journey. The broker also has a group of analysts that provide insights about the market on a daily and weekly basis.

The economic calendar keeps you updated on the daily news events. You can also use it to check for old news events and their impact in the market.

Education

Pepperstone Review 2022 - Education

The broker provides its clients with articles, trading guides, courses, and webinars. You will learn the basic concept of trading from the articles and trading guides. Also, you will have access to past webinars, and learn other aspects of trading from the trading guides.

The broker also has courses specially designed to teach forex trading and how to use MetaTrader 4.

Customer Service

There are various ways you can reach the broker’s customer service, and they include live chat, email, phone, office address, and social media. Its customer service is great and you will get a response on time. However, the broker’s customer service does not work on weekends, so they are not available 24/7.

You can reach them through the following means:

Office Address – 70 Gracechurch Street, London EC3V 0HR, United Kingdom.

Email – support@Pepperstone.com

Phone Number – +44 (800) 0465473 (UK toll free) & +44 203 807 4724 (International number)

Facebook – https://web.facebook.com/Pepperstonefx?_rdc=1&_rdr

Twitter – https://twitter.com/pepperstonefx

LinkedIn – https://www.linkedin.com/company/pepperstone/

The ‘Popular FAQs’ and ‘Browse all Topics’ subsections under the support section on the website can also be used to get answers to any question you might have about the broker.

Other Products and Services

Pepperstone does offer other products and services aside from its trading services. You can become a partner with the broker.

Partnerships

You can partner with Pepperstone in three different ways, whether as an affiliate, introducing broker, or fund manager. You can earn up to $1,300 CPA on client referrals with a range of digital marketing material as an affiliate on Pepperstone. As an introducing broker on Peppersone, you can earn competitive rebates on client referrals with dedicated account managers helping you along the way. Fund managers can also earn performance fees and commissions on managed accounts with the broker’s bespoke MAM/PAMM solutions.

Is Pepperstone Safe?

The broker is an authorised and regulated broker by the following top-tier financial regulatory authority: FCA, ASIC, CUSEC, SCB, CMA, DFSA, and BaFin. It has offices in different cities across the world.

There is negative balance protection for most clients. To keep funds secure, Pepperstone holds its clients’ funds in segregated bank accounts in Natwest and Barclays bank in the UK.

In addition, Pepperstone has been in operation for the last decade and has successfully registered more than 300,000 clients. It processes an average of $12.5 billion worth of trades every day on over 110,000 retail trading accounts. It is safe to say that Pepperstone is a safe broker with all this information.

You can revert to the About Us page on the broker’s website for more information.

Bottom Line

Pepperstone is a CFD and spread betting broker that offers 1,200+ trading instruments. You can trade forex, shares, ETFs, commodities, indices, and currency indices on the broker. It has three different trading platforms, which offer advanced trading and charting tools. These platforms are available on desktop, mobile, and web, and you can download them on your Windows, iOS, and Android devices.

The broker offers social trading, where you copy other traders’ strategies. There is no fee for deposits and withdrawals, and you can use a credit card, debit card, PayPal, and bank transfer as payment methods.

There is a difference between spread betting and CFD spreads. The two main types of accounts are Razor and Standard, with Razor being the commonly used account type in the UK. The education section has numerous trading articles and guides you can learn from.

Q & A

Yes! The broker is authorised and regulated by the FCA.

Yes! You can open a CFD and Spread betting account on Pepperstone and trade with them.

All the trading platforms on Pepperstone are convenient and easy to use. But, you can only trade shares on MetaTrader 5.

The recommended minimum deposit is 500 GBP, but you can still deposit and trade with less amount on the broker.

Withdrawals on this broker will be completed in 1-3 working days, but it can be longer when there is a public holiday.

There are over 300,000 clients on Pepperstone.