Maybe you have heard of the Pepperstone broker, it is one of the well-known brokers and many traders use this broker. Why I try to review this broker? Because there are some friends of traders who say that this is a good broker.
If you have had experience with Pepperstone, perhaps you can leave a comment. Because no matter how good a broker is, there will be gaps and even traders who feel facing bad experience.
Because one part of choosing a broker is to read reviews and trader testimonials. Pepperstone at a glance, this broker is regulated on FCA, ASIC, DSFA, SCB. Found since 2010, quite a long time, although not longer than FXOpen which appeared in 2005.
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Contents
Company overview
Pepperstone is an STP/ECN broker that allows traders to take advantage of the fast processing market opportunities in milliseconds. Established in 2010 and becoming one of the world’s largest brokers, with a total user base of more than 73 thousand traders and transaction processing reaching more than 12 billion USD.
The founders of the Pepperstone broker were Owen Kerr and Joe Davenport who had the idea to pioneer a new way of connecting retail traders with market-maker banks in the forex market.
As a result, they were able to work closely with 23 top banks, including UBS, JP Morgan, etc., to bring price quotes to investors instantly via fiber optic.
Advantage featured
Pepperstone is a broker that has received several awards from Investment Trends, Deloitte, and Compare Forex Brokers and is also recognized for its consistency in outstanding customer service, excellent trading conditions, low spreads, and value for money.
Trading Platforms
Pepperstone broker offers 11 different trading platforms. These include MT4 for desktop, MT4 Mac, MT4 iPhone, MT4 Android, MT4 iPad/Tablet, MT5, WebTrader, cTrader, cTrader WebTrader, cTrader cAlgo, and cTrader Mobile. And more, traders can also use various additional tools such as Myfxbook, ZuluTrade, and MT4 Signals.
Liquidity From Leading Banks
Pepperstone brokers work with leading banks, including UBS, JP Morgan, as liquidity providers. This ECN broker also provides many deposit and withdrawal methods including via bank wire, credit/debit cards, and others.
Using Segregated Accounts
Pepperstone ensures the safety of client funds by depositing them in segregated bank accounts with top Australian banks, including National Australia Bank (NAB). Client funds are separated from funds for company operations.
Regulation
Pepperstone is an Australian-based company authorized and regulated by 4 highly trusted regulatory authorities. The Financial Conduct Authority (FCA) in the UK, the Australian Securities Investment Commission (ASIC) in Australia, the Dubai Financial Service Authority (DFSA) in the United Arab Emirates, and the Securities Commission of the Bahamas (SCB). Further, the company holds professional indemnity insurance through Lloyd’s of London.
Trading spread and commission
Pepperstone is a broker that offers tight spreads and commissions, even from zero spreads with the average on the forex market on the EURUSD pair only 0.09. on Razor accounts, and on standard accounts the average is 0.69 with a minimum spread of 0.6. In addition to different account types, different pairs also provide different spread values.
Spread on market indices Pepperstone’s lowest spread for US500 only starts from 0.4, NAS100 and UK100 start from 1.0, GER30 spread 1.2, US30 spread 2.4.
For market commodities, for example, gold spreads only 0.5 with an average spread of 0.13, silver averages a spread of 1.09, other commodities such as natural gas and oil have higher spreads than gold and silver.
This cryptocurrency market spreads in value depending on the asset being traded, for Polkadot it has the lowest spread of 0.05 with an average of 0.085, while Bitcoin’s minimum spread is 50 with an average of 53, Ethereum minimum spread is 4 with an average of 6.9. Ripple minimum spread 0.023 with an average of 0.025.
Trading commissions on ECN accounts with Pepperstone broker are also low, from 0.02 at 0.01 lots, to 2.29 if with 1 lot in GBP currency. Other currencies are slightly higher but still fairly reasonable.
Pepperstone account trading
Pepperstone is an STP/ECN type broker, traders can choose according to their needs, it can choose a standard or Razor account for ECN. The difference between STP and ECN accounts is only in the way the commission is taken, STP takes the spread while ECN takes the commission, which depends on the currency.
But users can also create a demo account, for beginners who want to learn to trade, Pepperstone brokerage facilities also support traders. In addition to the demo account, there is also market analysis, which may be able to provide trading assistance through analytical ideas from several Pepperstone analyst teams
Leverage offered by Pepperstone
Leverage in forex and CFD trading is common, with Pepperstone offering leverage of up to 1:500 for forex, and up to 1:200 for indices.
Choosing leverage will suit your needs, pro traders who have used large funds for example more than $25K will prefer to choose low leverage for example 1:50, this method can limit traders from over-trading.
Almost novice traders usually like high leverage because they only start with low funds of no more than $100 on average. But unfortunately, Pepperstone’s minimum deposit is $200, this not suits for beginners.
Pepperstone customer support
Pepperstone does not provide an online support button on its official website. On the support page, there is important information about the FAQ, which provides information on how to get started, working hours, and account security.
That may be enough to provide important information, but if a trader wants to contact customer support directly there is an email at [email protected]
Maybe if the queue is large, you need to wait longer to get a response from support, although formally contacting support services can be 24/5 days a week.
Pepperstone instrument trading
Pepperstone offers available markets for forex, index CFD, share CFD, crypto, commodities, and currency index CFD, with over 700 trading instruments.
With a large number of trading instrument options, it provides flexibility in choosing the one that is considered the most profitable. However, forex traders generally choose forex trading, just to explore challenges, they can try other instruments that have never tried.
Pepperstone payment method
Pepperstone is a broker with a high reputation, but unfortunately, we couldn’t find any other way of funding and withdrawals except using Mastercard, Visa, and Bank transfer on their official site. But citing from Trusted-broker review, and Trustpilot, they state Pepperstone provide payment method include use Poly, Bpay, Union Pay, Skrill, Netteler, also Paypal.
However, it is possible that when you register as a customer and try to fund an account there will be payment options according to the country where the customer started.
Pepperstone customer reviews
Reviewing a good broker, it’s not enough if you don’t seek information directly from traders who use the services of the broker in question.
Reviews of traders who share their trading experience with the broker were there any problems or all was well. It is very helpful for traders who are just trying to use the services of a broker. At least that’s how traders reduce the risk of being caught in a scam broker.
But one of the obstacles when trying to research trader reviews is if there are fake reviews. It may be a review that serves a specific purpose. Such as providing a negative review, but it offers a solution on another site unrelated to the one being reviewed.
Such reviews deserve suspicion, as they may be aimed at trapping some of the troubled customers. These ways of reviewing are dirty ways in business competition. But there are still those who like to use such undignified methods.
Pepperstone review forex peace army
Forexpeacearmy is a site that is often one of the places where traders interact with one another. And to discuss the forex industry. It has also become one of the largest broker review sites since 2005 There many brokers are listed in the review, including Pepperstone broker.
To view and read Pepperstone broker reviews at Forexpeacearmy on this page. You can read reviews from traders with their experience with the Pepperstone broker. You can even give your review if you have experience with this broker.
We saw that the last update was on June 4, 2021. And maybe there will be another new update along with changes in trader reviews. On this review page, there are traders who have provided reviews up to 38 pages. With a total of 10 reviews per page.
There we see the star rating of Pepperstone with three full stars and three-quarter stars or 3.3/4 stars. It shows many recommend the Pepperstone broker.
The reviewers come from various countries. This shows that even though Pepperstone is based in Australia, the reach of traders from various countries.
Although most traders gave positive reviews, and some small someones gave negative reviews. From the results of a search for a thread about Pepperstone. A Pepperstone thread was found in the sub scam alert. You may be interested in what issues cause traders to create threads on scam alerts, you can find them here, here, and here.
Even though the thread was created in the scam alert sub. But you should read the whole issue to make your own conclusions. The cause of one of the cases is due to ignorance of how to solve the problem.
Pepperstone review trustpilot
Trustpilot is a site where companies and consumers can share their experiences to help each other. But this site is not only a forum for reviews in the world of forex and business. But includes many more categories. Animal Pets, beauty, and more.
To find a review about Pepperstone, you simply type in the search box on the Trustpilot website, a number of results will appear and you can check one by one.
Looking at Pepperstone’s review on Trustpilot it gets a 4.5 rating with an excellent rating. out of 1025 trader reviews at press time. Of the overall reviews that give excellent value as much as 75%. Great 12%, Average 3%, Poor 1%, and Bad 8%.
You may see some reviews that are labeled Invited, or Redirected, some without the label. Users who leave reviews directly through Trustpilot without a label. While Invited means being manually invited to review a business.
If you read from the whole review, most of them have the invited label. This means that many reviewers have been invited to give reviews.
Is Pepperstone a legit broker?
Yes, it is regulated in several jurisdictions, including ASIC Australia, FCA UK, DFSA, and SCB. Even from a report by 55brokers, Pepperstone received Cysec regulation on November 20, 2020.
For one reason it makes the level of trust with a high value. And more with the reviews of traders who have used the broker’s services leaving positive reviews.
Although there is no online support available on the official site. Some reviews on customer support provide good feedback on Pepperstone.
Pepperstone pros and cons
Pepperstone is a broker that many traders recommend. However, all brokers have their pros and cons. On the one hand, it may be good, but on the other, it may be bad. Here are some important Pepperstone pros and cons.
Pros
- Regulated in ASIC, and FCA which is a strict regulatory agency.
- Wide selection of trading platforms, cTrader, Metatrader 4, Metatrader 5.
- Low spreads and commissions, with good execution speed.
- Customer service response that provides guidance that provides quick assistance on issues facing customers.
- To be one of the largest retail brokers with a valuation of more than 5 billion dollars. With more than 70 thousand traders.
- Payment methods are not only by credit card. But also payment systems such as Paypal, POLi, China Union Pay, Bank Transfer, Bpay, Skrill, Neteller, Qiwi, Fasapay, and Broker to Broker.
Cons
- This broker is not suitable for beginners, because the minimum deposit is $200. But beginners can try a free demo account for 30 days.
- Does not accept customers from the United States. This is because this broker is not registered with the NFA as a regulatory agency in the US.
- The verification process is different in each jurisdiction, this may be a problem.
Conclusion
Pepperstone’s broker rating is quite high, so this is one of the recommended brokers.
Although not suitable for beginners, because Pepperstone does not provide Micro accounts like FXOpen. But this broker is mostly intermediate-level traders choosing its broker.
One more thing they also offer sharia accounts by choosing no swap for traders who come from among Muslims.
Forex and CFD trading are risky investments, so spend your money wisely.
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