Pepperstone UK Review

Being the quickest growing global Forex Broker, Pepperstone offers spreads on the EUR/USD from 0.0 pips and £2.29 commissions, popular trading CFD platforms to choose including MT4, MT5 and cTrader. The brokers reviews surpass 85% satisfaction and come hand in hand with outstanding customer support.

By Justin Grossbard / Updated: Sunday, February 16th, 2020

Pepperstone Fees
YouTube video

‘Top 3’ Pepperstone Strengths

  1. Platforms available for trading
  2. Account types and their low fees
  3. Customer Support

‘Top 3’ Pepperstone Weaknesses

  1. Retail Investor Markets
  2. Management of Risk

2020 Best UK Forex BrokerPepperstone Was Awarded The UK Best Forex Broker 2020

In 2020 a comparison of UK forex brokers found Pepperstone was the best based on their average spreads, commissions, forex trading platform features and customer service. The Financial Conduct Authority (FCA) number is 684312 for Pepperstone Limited. As an FCA registered broker there are limitations on leverage up to 30:1 for retail traders unless they qualify as a professional trader.


Our Rating

The overall rating is based on review by our experts

8.83
Spreads
10 / 10
Leverage
10 / 10
Trading Platform
10 / 10
Risk Management
7 / 10
Range of Markets
6 / 10
Customer Service
10 / 10

Pepperstone FAQs

Pepperstone connects forex traders directly with over 20 liquidity providers through Electronic Communications Networks (ECN). This is applicable for the Pepperstone Razor account. The account offers straight-through processing with 22 liquidity providers. There is no dealing desk.

cTrader is a custom-designed forex trading platform made by cTrader Limited. It’s designed for advanced forex traders looking for custom designed features and is London-based.

MetaTrader is globally the most popular forex trading platform based in New York. Created by MetaQuotes it has an easy to use interface and advanced automation features through expert advisors.

Further information about Pepperstone

Pepperstone is unlike many other foreign exchange brokers. They are based in Australia with management operations that have ample currency trading experience. The firm was established in 2010, having Australian regulation, holding the Australian Financial Services Licence 414530. Most recently, the Pepperstone Melbourne office Champ was given the title as the strategic investor in the company.

Being a regulated Forex Broker through ASIC implies several regulations, and satisfaction to meet capital requirements. The staff at Pepperstone need to undergo training and become compliant with industry risk management procedures, audits and accounting standards. Majority of FX Broker scams arise when brokers put on a front, pretending to be a regulated trader. The National Australia Bank holds Pepperstone’s financial accounts as regulated brokers must keep client accounts with Australian financial institutions.

Wiki Information

Traders on the Pepperstone YouTube channel, are able to sift through information, training and reviews on currency and Forex related topics plus the Pepperstone resource centre providing accessible information to traders. Although not relevant to UK traders, the Pepperstone offices in Melbourne do offer on-site trading for specific traders. Online Pepperstone Training

National Australia Bank

Under FCA regulations, there is a requirement for Pepperstone to obtain clients funds in a segregated bank account. One of the ‘big 4’ banks – National Australia Bank (NAB) has the responsibility to ensure this is all exercised in an appropriate manner. Underneath the umbrella of the Australian government bank guarantee allows NAB to be best placed as the segregated bank account for retail brokers.

Funds deposited into an account

The minimum deposit for both account types is £200 (the Razor ECN broker account or the STP standard Pepperstone account). Active Trader Program users will have a higher minimum deposit. Deposits can be made on a variety of platforms including; credit card, debit card, wire transfer, PayPal, Skrill and more as explained earlier. Withdrawals can be made through similar channels on the same business day.

Leverage Offered

When Forex Brokers offer a level of leverage, it pertains to the potential trade value of a trader’s deposit. Pepperstone provides its traders with a leverage level of up to 30:1. It means that traders can trade up to 30 times the amount of their initial deposit, ensuring they can maximize their exposure to the services provided by Pepperstone.

Trading Risk

It is integral for brokers like FXCM to note that 79% of those who invest funds with Pepperstone, will lose their capital. Traders must have substantial knowledge and understanding of CFDs before stepping out into the trading arena. CFD trading has its own set of risks, and therefore all brokers, whether beginners or experienced should only trade with amounts they can afford to lose to mitigate this risk.

Pepperstone Demo Accounts

Demo Accounts do exist both on the cTrader and MetaTrader platforms. Please see our demo article which elaborates on the positives of a demo account – more specifically for traders new to the industry and the exchange of foreign currencies. Traders can still access demo accounts once they’ve embarked on a life journey – ensuring an opportunity to test trades and plan strategies, which suits traders with expertise.

Technical Analysis Offered By Pepperstone

Pepperstone offers technical analysis, which assesses the trends of pricing over a period of time, with a focus on charting. For Pepperstone brokers, there exist 3 types of charts:

(1) A line chart, which essentially connects one closing price to another. This assists in identifying the trend of a market over a given time.
(2) Bar charts provide forex traders with further guidance on the price action. The bars are plotted vertically and can be incorporated to predict future price movements.

(3) Candlestick charts, also informing on highs and lows over an amount of time, however, this generates data on reversals and pivot points in live markets.

Fundamental Analysis Offered By Pepperstone

Fundamental analysis will seek information on events, occurrences and forces that sway foreign exchange markets. These include political, financial and economic factors. The news and daily updates (provided by Reuters) are critical to the impact on currency markets. These alerts range from surplus and deficit information, political policies as well as trade trends and inflation.

Mobile App

For a modern trader, it’s important to have access to a trading application that offers the core functions of a Forex Trading Platform and combines them with the functionality of a mobile app. This is done through the MT4 or MT5 App for iPhone® and Android®. This enables buying and selling of currency pairs on the go. On the other hand, cTrader rather has a mobile trading platform allowing access to those who desire to trade as they run along with their busy life schedule.

Pepperstone Mobile App

Pepperstone, unfortunately, cannot be accessed in every country

Although having the title of a worldwide Forex Broker, as well as holding regulation in multiple continents – due to local laws and regulations, some countries cannot access Pepperstone and their residents are unable to facilitate accounts. These countries include:

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

Both accounts that Pepperstone offer can be accessed through 10 foundation currencies including the Pound, US dollar, The Euro, Japanese Yen, Hong Kong dollar and Australian dollar

Opening an account with Pepperstone

Pepperstone Forex Account Opening Process

Once a trader has decided that Pepperstone is for them. An account can be established quite simply. You can access the Pepperstone site by clicking on the ‘visit website’ button at the bottom of the article. Traders should find themselves between 5-10 spare minutes to complete the entire application, on the assumption that all the correct information and details are conveniently located.

Step 1

Completion of a form, which includes the type of application that is being sought after. Meaning is the trader an individual, trust or company. Following this, the regular fields should be filled out (i.e name, phone number, e-mail).

Step 2

Upon completing the form, further information will be required, including several other personal matters. Here, the trader will be able to decide on what level of leverage they require, as well as being asked their level of expertise by the broker.

Step 3

The trader will then require ID verification, as well as proof of address (i.e presentation of a utility bill). Providing a passport will assist in avoiding the need to prove an address.

Step 4

The trader will then have accessibility to download the Forex Trading Platform and begin their trading experience. This is of course on the assumption that the paperwork and relevant information has been through the appropriate process. This procedure may sometimes take up to a week. If any issues do arise, customer service channels will be open to support and provide assistance.

About Compare Forex Brokers

Compare Forex Brokers have also applied their knowledge and understanding to created broker comparison tables assisting traders in choosing the right broker for their investments. These comparisons range on a whole variety of aspects, including leverage, customer service, spreads and popularity of Forex platforms offered. Please continue to read the reviews and comparison on our websites, written by those with knowledge and expertise in the industry. There are also country related reviews which ascertain the leading brokers in several categories in a relevant country.

This Pepperstone UK review was based on information and data obtained from the Razor FX trading accounts as well as the UK and Australian Pepperstone Forex brokers website. This review is quite standard and factored in spreads of other CFD providers at the time of the Pepperstone UK review. If you see any issues with the content provided in this article, please let us know via the ‘contact us.

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