Pepperstone Review – Is it a legitimate Forex Broker?

In this Pepperstone review, you will get to know whether Pepperstone is a legitimate broker or not. That means you must clear up your mind about Pepperstone scams (if any). If there isn’t then you’ll be able to make the right decision. Let’s discuss it further on.

Overview

Pepperstone broker is based in Melbourne, Australia, and was founded in 2010. In addition, Pepperstone is a non-dealing desk broker, meaning that it does not pass on order flow to market makers. Moreover, in order to target international customers, it also has its franchises that operate in the USA and China. Over the years, it maintains the quality of services and has won several awards and titles, as well. In 2014, BRW Magazine named Pepperstone Forex broker as ‘the fastest growing company in Australia.’ It also has won the Governor of Victoria Export Awards in 2014. In addition, it has been praised for providing the best services to the traders.

Pepperstone Broker Regulations

As Pepperstone broker is mainly based in Australia, it has undoubtedly been regulated there and in other parts of the world too. In Australia, Pepperstone review shows that Australian Securities and Investment Commission (ASIC) regulates it under the registration number AFSL #414530 and in the UK it is regulated by UK’s Financial Conduct Authority (FCA) under the license number FRN: 684312. Both of these regulatory bodies are highly strict with their laws and security assurance for the brokers to keep things highly safe for traders. For those traders who are based in the UK and the European Economic Area (EEA), they fall under the regulatory section of the Financial Conduct Authority.

Their funds are insured with Lloyds of London and are kept in tier 1 banks such as Barclays. For traders based in Australia and other parts of the world, ASIC looked after their legal interests. Traders’ funds are also insured with Lloyds of London and are kept in leading banks with security assurance in National Australian Bank.

Pepperstone review

Reliability of Pepperstone Broker

As we discussed above, Pepperstone Forex broker is an award-winning Forex broker, but it’s not all. Highly strictly, authorities also regulate it, which means it has been quite reliable for the traders. It has won numerous significant awards since years because of best customer services quality assurance, plenty of trading tools that it provides to its brokers for best convenience and pleasant conditions in terms of trading for the traders. Summing up, it all makes Pepperstone broker one of the most reliable brokers yet.

Pepperstone Trading Platforms

According to the Pepperstone review, it provides multiple trading platforms to its traders and surely the prominent ones. They provide Meta Trader 4, cTrader and Mobile Trading Platform. Let’s take a look to find out their capabilities:

  • Meta Trader 4 Trading Platform

Pepperstone broker allows traders to use Meta Trader 4 as their trading platform, which is known, as the world’s most prominent trading platform. Many of the brokers around the globe adopt it. This Platform provides plenty of features like; it has a charting package with a wide array of technical indicators. As well as it has language-customization, this is why traders across the world in different countries with different languages widely use it. It does also allow automation trading with the use of Expert Advisors (EAs) to help traders execute the trade when they’re manually not able to do it due to any reason.

MetaTrader 4 is available in a desktop version and is available for different operating systems such as Windows, Linux, and MacOS. If you’re a desktop user, this is the best choice of trading platform Pepperstone broker has provided for you.

  • cTrader Trading Platform

cTrader Ltd develops cTrader, and it is the innovation of technology in the trading world. FxPro adopted it as we discussed in that article and now it has been adopted by many trading brokers who are also offering ECN trading access to the traders, including Pepperstone. Pepperstone cTrader platform was designed to work up with two main functions; execute trades efficiently and comprehensive charting similar to the MT4 platform. Definitely, it is easier to operate with its clean user interface and powerful execution time trials that are the need for even the most demanding traders.

Pepperstone review

  • Pepperstone Mobile Trading Platform

Pepperstone Forex provides a mobile trading platform through which you can trade anytime, anywhere in the palm of your hands. According to the Pepperstone review, most of the population is mobile-oriented these days, so it is a huge benefit from Pepperstone broker for you. You won’t miss the features of Pepperstone cTrader Platform and MT4 Platform, and you’ll be having everything on your Smartphone screen. This mobile-based application for trading is available on Google Play Store and Apple App Store for download.

Trading Instruments

Pepperstone review shows that it offers spot Forex trading and CFD trading. The Forex market is the largest market in the world that has the turnovers of more than $3 trillion per day. In Forex trading, trading activities are focused on a few major currency pairs such as the EUR/USD and USD/JPY. For CFDs, trading cover several asset classes such as market indices, commodities, precious metals, the energy market and more recently cryptocurrencies. Pepperstone broker allows around 13 CFDs to trade with.

Account Types

There are four different types that Pepperstone broker provides for trading; the standard account, the Razor account, the Swap-free or Islamic account and the Active Traders account. Let’s see what each of them has got for you!

  • Standard Account

According to the Pepperstone review, the Standard Account offers commission-free trading with inter-bank rates. It also offers spreads from as low as 1.0 pips for the traders. The Standard Transfer Plan (STP) with liquidity from 22 different banks helps in executing a trade. The trading account also provides protection from negative balance and has automated risk management for your convenience. It also helps in keeping a safe environment for you.

  • Razor Account

Pepperstone review shows that the Razor Account enables you to trade with raw spreads with as low as 0 pips. In addition, the commission rate is around $3.5 per 100k trade. Start trading from 0.01 lots and this account is packed with the capabilities such as, advanced algorithms that route trades with lightning-fast execution speed. The minimum deposit required to open this account is 200 Australian Dollars.

  • Swap-free/Islamic Account

Pepperstone’s Swap-free/Islamic Account traders are for those traders who wish to trade in the markets according to the Islamic Shariah Law of no “RIBA,” which means “No Interest.” So you can say this is an interest-free account. Trades are executed based on the STP model with the average spreads of EUR/USD at 1 to 1.2 pips. It requires a minimum deposit of 200 Australian Dollars to open this type of account.

  • Active Traders Account

Pepperstone’s Active Traders Account is for advanced traders who are always willing to perform high volume trades with convenience. According to Pepperstone review, it is clear that this account has several more benefits that include the service of a dedicated account manager, advanced reporting, VPS Hosting, and custom solutions.

Withdrawals and Deposits

Pepperstone broker provides several methods of funds transfer that include major credit cards such as VISA and MasterCard, eWallets, PayPal, China Union Pay, POLi, Neteller, QiWI, Broker to Broker, FasaPay and bank wire transfers. Moreover, Pepperstone reviews show that it never charges any deposits or withdrawals fees. Traders are still liable for any charges that banks or credit card companies imposed on them. To process a withdrawal request, the minimum time required is one business day to up to 7 business days.

Pepperstone Minimum Deposit Amount

You will not have to bear any minimum deposit by Pepperstone broker. It means that Pepperstone Forex is an ideal broker in case you want to trade with a smaller amount. If you really want to start your journey in the Forex field, then Pepperstone broker is the best, to begin with. You are allowed to add more funds to your account afterward as you acquire more understanding in supervising your investments. So, ultimately the Pepperstone minimum deposit amount is 0%.

Besides Pepperstone minimum deposit amount, plenty of other factors are there that you need to consider while opening an account. Let’s have a look at some of the most essential pros and cons.

Pros

  • Pepperstone minimum deposit amount is 0%.
  • It allows credit or debit card deposit.
  • There is no deposit fee.

Cons

  • None reported

Pepperstone Minimum Deposit Fees and Deposit Methods

According to Pepperstone review, it does not charge any deposit fee. Pepperstone broker is amazing as it will never deduct anything from your deposits and you only have to compute with the costs charged by the bank or any third party from you send the money. As there are no deposit fees at Pepperstone Forex, then the methods of deposit are most essential for you too.

Pepperstone Deposit Methods vs. Similar Brokers

Pepperstone review

For the different methods the average transfer times are:

  • 2-3 days for the Wire transfer
  • Instantly or it may take a few hours for the Credit or debit card and online wallets

According to the Pepperstone review, a slight issue with Pepperstone depositing money is that it is not user-friendly as compared to other brokers. It shows that either the interface is not user-friendly or figuring out the way to make the transfer is quite complicated.

Pepperstone review

Deposit Currencies

As you know that each trading account has a base currency and it shows that the broker will seize your deposited money in that currency. At some brokers, you can have more than one trading accounts with several different base currencies. For instance, with IG you can have both EUR and USD based accounts. Does this really matter? Yes, because a conversion fee for currency is charged if another currency is used for depositing rather than the base currency of the target trading account. It is not a big deal. However, it is something vital that you should be aware of. Some of the online brokers offer only the major currencies trading accounts such as USD, EUR, GBP, and JPY. However, some of the online brokers support more than that.

Fortunately, Pepperstone broker stands out from the more significant part of online brokers by supporting not only the main currencies but some minor ones as well. According to Pepperstone review, it is more likely beneficial as it supports the currency that you want to deposit in and you will not have to convert it. As a conversioPepperstone reviewn fee is charged, the conversion would mean extra costs. To save on the currency conversion fee, the best way is to fund your brokerage account from a currency different from your available bank account can be to open a multi-currency digital bank account.

Pepperstone Review – Conclusion

By concluding the Pepperstone review, it is clear that this is one of the reliable brokers right now in the Forex trading industry. It has lots of benefits and best services to provide to the traders that make it prominent in the world. Further, it has won several titles of recognition as we discussed above. Pepperstone reviews make clear that it is not knowingly a scam broker as it is regulated and secured too. It provides a secure environment under the strict policies of the regulatory authorities. So, from Eagles Investors, it is rated as one of the best brokers choices that you can make to execute a trade.

5/5 (2 Reviews)

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