Pepperstone Review 2020

Pepperstone is an Australian forex broker regulated by ASIC and the FCA offering forex trading platforms MetaTrader 4, MetaTrader 5 and cTrader. Based on the EUR/USD, CFDs, cryptocurrency and other currency pairs our review of Pepperstone found the broker has the lowest fees of any ecn broker.

View the full Pepperstone review below with details execution speed, spread and trading cost analysis.

By Justin Grossbard / Updated: Wednesday, February 19th, 2020

Pepperstone Fees

Pepperstone Strengths And Weaknesses

A review of Pepperstone was completed in February 2020 based on a comparison of the leading forex brokers with data obtained through platform testing, published data and industry awards.

YouTube video

Pepperstone Strengths

  • The lowest 2020 average spreads + commissions
  • The choice of the MT4, MT5 or cTrader trading platform
  • The fastest forex trading  execution speeds (2020 tested)
  • The best customer support based on awards
  • Low minimum deposit and easy funding methods

Pepperstone Weaknesses

  • No stockbroking or other financial services
  • Limited risk management tools

Our Rating

The overall rating is based on review by our experts

9.17
Spreads
10 / 10
Leverage
10 / 10
Trading Platform
10 / 10
Risk Management
7 / 10
Range of Markets
8 / 10
Customer Service
10 / 10

Pepperstone FAQs

The Pepperstone Razor account offers ECN Broker spreads from 0.0 pips for the EUR/USD currency pair. Pepperstone connects forex traders directly with over 20 liquidity providers through the Electronic Communications Networks (ECN). The account offers straight-through processing with 22 liquidity providers. There is no dealing desk.

View our ECN broker article to learn more about no market-maker providers and Pepperstone.

The minimum deposit of Pepperstone is $200 in AUD or a traders account base currency. The broker actively doesn’t enforce this minimum deposit requirements. The minimum deposit requirement applies for both the Pepperstone standard account or Pepperstone razor account.

You can view more about funding and account here.

Pepperstone allows scalping and hedging through the Razor trading account. Scalping is allowed through the MetaTrader 4, MetaTrader 5 or cTrader forex trading platform.

You can view our MetaTrader 4 vs MetaTrader 5 comparison to see which of the two most popular forex platforms is more suitable for your scalping requirements.

Pepperstone is a legit broker based on it’s FCA and ASIC regulation, 10 years of operation, 57k+ traders worldwide and an average of $12,550m USD trades every day. View the key details of Pepperstone.

More Details About Pepperstone

Unlike most other foreign exchange brokers, Pepperstone is Australian based (in Collins Street, Melbourne) by a management-team with currency trading experience. In 2016 at the Pepperstone Melbourne office Champ was announced as a strategic investor of the business. The Pepperstone firm was founded in 2010 within Melbourn and hold the Australian Financial Services Licence 414530. Pepperstone Limited is the companies UK subsidiary and has the Financial Conduct Authority Registration Number 684312. In 2020 the company also opened another subsidiary in Dubai called Pepperstone Financial Services (DIFC) Limited further showing the company’s global expansion.

As an ASIC regulated forex broker, Pepperstone needs to meet capital requirements. Other requirements include staff training and complying with risk management processes, audits and accounting. If you hear of any Pepperstone scam this may be a broker pretending to be fx broker. Having an AFSL also means that Pepperstone financial accounts (client accounts) must be kept with Australian financial institutions which in this case is the National Australia Bank.

Traders can learn the fundamentals of online forex on the Pepperstone YouTube channel, as well as the online Pepperstone resource centre. There are online webinars and market analysis and also from time-to-time, the Pepperstone offices in Melbourne and London has on-site training for selected traders. Online Pepperstone Training

National Australia Bank

As an ASIC regulated Australian forex broker, Pepperstone is required to hold client funds in segregated bank accounts. Our review of Pepperstone found this was the National Australia Bank (NAB) which is one of the ‘big 4’. NAB is covered by the Australian government bank guarantee making it an optimal segregated bank account for traders.

Minimum Deposit

The minimum deposit size is $200 for either the Razor ecn broker account or the STP standard Pepperstone account. The minimum deposit can increase for those who choose the active trader program. Deposit options include wire transfer, credit card, debit card, Skrill, PayPal and more as explained earlier in this review of Pepperstone. A withdrawal can be made through the same channel as deposits and are processed within a business day. This can be higher in some cases.

Leverage Offered

Pepperstone Limited offers a leverage level of up to 500:1 while Pepperstone Group Limited offers retail traders up to 30:1. Only a handful of AFSL forex brokers offer this level of leverage and means you can trade up to 500 times your deposit amplifying the exposure to currency markets.

Trading Risk

Leverage associated with CFD trading (forex trading) high-risk activity. 79% of retail investor accounts with Pepperstone lose money so it’s critical to understand CFDs prior to trading. Make sure you only trade amounts you can afford to lose due to the threat of losing your money.  Pepperstone also offers an Islamic account. This is swap-free account avoiding interest which can prevent some individuals from CFD trading.

Foreign Exchange Demo Account

Pepperstone offers a foreign exchange (online forex) demo account on the cTrader and MetaTrader platform. Our demo article explains more about the advantages of demo accounts, especially those that are new to foreign exchange trading. One a trader opens a live account they still have the option of using a demo for trading testing on the MT4 platform. A feature many traders use for expert advisors (EAs).

Technical Analysis Offered By Pepperstone

As technical analysis focuses on price trends over time there is a central focus on charting. Pepperstone offers three types of charts including a line chart that connects one closing price to another. This helps identify the direction of the market over a given time. The second type is bar charts which provides more details of market trends through line formats. This includes the highs and lows of specific periods. The final is candlestick charts which also shows the highs and lows over a period. This candlestick format helps identify reversals and pivot points on currency markets.

Fundamental Analysis Offered By Pepperstone

Focusing on financial, political and economic factors, fundamental analysis focuses on the events and forces that influence foreign exchange markets. These forces and events help impact currency markets which is why news (provided through Reuters) and daily market updates by Pepperstone are so critical. This information focuses on political policies, surplus and deficit information, inflation and trade trends.

Mobile App

The MetaTrader 4 or MetaTrader 5 App for Android® and iPhone® provide the core functionality of the online forex trading platform combined with the functionality of a mobile app. cTrader doesn’t have a mobile app but rather a mobile trading platform for those looking to trade on-the-go.

Pepperstone Mobile App

Countries Excluded From Trading With Pepperstone

Pepperstone is a worldwide forex broker but due to regulatory and other local laws, there are countries where residents can’t trade forex with the provider:

  1. USA
  2. Japan
  3. New Zealand
  4. Canada
  5. Zimbabwe

Traders in these regions may want to consider brokers such as FXCM and OANDA.

About Compare Forex Brokers

The authors of compare forex brokers have made broker comparison tables to make finding the right Australian forex broker simple. There are also head-to-head comparison tables comparing Pepperstone tp brokers such as Hugoway as shown at the bottom of the page. There are several forex broker comparison tables each feature on separate areas including leverage and fx platforms offered. Feel free to view our forex broker comparison options each with separate brokers reviews created by real Australians.

This online Pepperstone review was based on information gained from the Razor fx trading accounts and the Australian forex brokers website. As such a standard review of Pepperstone should factor in the spreads of this alternative account. If you find any element of this online review of Pepperstone is inaccurate please inform us using the ‘contact us’.

View The 'Head To Head' Comparisons Of Pepperstone To The FX Brokers Below:

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