Pepperstone review (2021) Review
Pepperstone is an Australian forex broker that also offers CFDs and was established in 2010. It’s regulated by financial authorities: the UK’s Financial Conduct Authority (FCA), Germany’s BaFin and the Australian Securities and Investments Commission (ASIC). You need $ 0 to open a live account and if you`re a beginner, you may start off with a demo account. Pepperstone offers many trading platforms, like MT4, MT5 or cTrader.
- Regulation – FCA, ASIC
- deposit – 0 USD
- Leverage – 1:500
- Spread – Variable
What can be traded
Pepperstone offers 62 currency pairs, three currency indices, nine cryptocurrencies, forex and commodities. They offer two forex accounts:
- Standard – competitive spreads and no commission
- Razor 0.0 – transparent, competitive FX trading costs with no account fees.
Pepperstone is regulated by top-tier regulators, such as the FCA in the UK. But the company is not listed on any exchange, does not disclose financial information and does not have a bank parent. As I have mentioned, it is regulated by the UK’s Financial Conduct Authority (FCA) for UK clients, by the Federal Financial Supervisory Authority (BaFin) for German & Austrian clients, by the Cyprus Securities and Exchange Commission (CySEC) for other EEA clients, by the Dubai Financial Services Authority (DFSA) for Middle-Eastern clients, by the Australian Securities and Investments Commission (ASIC) for Australian clients, by the Capital Markets Authority of Kenya (CMA) for African residents and by the Securities Commission of The Bahamas (SCB) for all other clients.
A demo account is a great education tool. You can try out your skills, learn how it all works without risk. Demo accounts are free of charge and come with virtual money for you to spend. Pepperstone offers a demo account on the cTrader and MetaTrader platforms. It’s simple to join.
You can easily find spreads, fees and commissions on their website, which I find a big plus. There are no internal deposit or withdrawal fees, except for a $20 bank wire charge, no inactivity or account fee. It has one of the lowest spreads from 0.0 pips. Keep in mind, that each account has different conditions.
Registering for an account with Pepperstone
Is simple. The join button is everywhere. You simply click and a form appears. You have the option to register under your FB or Google account.
And if you don’t start filling in a message that comes up with an offer, that they`ll remind you to register at a better time.
The form was filled in a minute. They need your initials, phone number and email. I Immediately had 2 emails. One confirmation email and the second was a welcome email with my login details and the next steps I should take.
It offers three third-party trading platforms:
- MetaTrader 4
- MetaTrader 5
I`ve decided to try out the WebTrader. As soon as I registered and verified, I was in my personal account looking for the next step to take. I chose the “Platforms” option in the menu and opened the WebTrader.
To connect, you need to choose “Demo” then fill in your initials again.
Although at first glance it looked a bit retro, I found it easy to use. You need time, to go through the platform and get a hold of where things are because they can be hard to find.
My first impression of the website was normal, I guess. Nothing special, nothing extra, normal, standard colors. What I was taken aback by was that you can check out their fees. You don’t have to go through the internet, it’s all there. The main page gives you an idea of who they are and why you should try them out. In the top pane, there`s a menu, where you can choose from:
I checked out their Education support and I must say, it’s great. You can learn to trade CFD`s, Forex, Crypto etc. They have many online resources, trading guides and expert webinars available in English. There are also educational videos available on Pepperstone’s YouTube channel.
You can join them with Facebook, Twitter, Linked In, YouTube or chat with an expert through live chat. Their FB posts aren`t that often. Two this month so far, one last month and the one before was a couple of months old, but Twitter was well more updated, you have a tweet a couple of times a day.
Advantages and disadvantages of Pepperstone
Pepperstone is a good forex and CFD broker, regulated by FCA, BaFin and ASIC. The account opening is fast and functional. Deposit and withdrawal are with no fees charged. The platforms are downloadable on IOS, Windows, tablets and you can use a WebTrader. The demo account works well, and you can go through their fees on their website. On the other hand, I found no information about the regulation on their website, you can trade only forex, cryptos and CFDs. Their news flow is rather basic and FB, which is used quite often among younger traders, isn`t updated that often.
- Only forex, crypto and CFD`s
- FB not updated so often
- Does not hold a banking license
- Not listed on the stock exchange
- Demo account
- Educational videos and webinars
- Live chat
Pros / Cons