Pepperstone Review

August 2022

74% of retail investor accounts lose money when trading CFDs with this provider.

Pepperstone opened its doors in 2010. It now serves over 300,000 traders worldwide, with offices in London, Cyprus, Dusseldorf, Melbourne, Dubai and Kenya. The broker processes an average of $12.55 billion daily and is one of the largest brokers for MetaTrader. The broker offers 1200+ instruments to trade on covering FX, commodities, Shares, ETFs, and indices.

Pros

  • Multi-Regulated by tier-1 authorities
  • Extra trading tools
  • Multiple account types
  • Choice of platforms

Cons

  • Short list of instruments
  • Limited languages customer support

Is Trading With Pepperstone Safe?

Pepperstone is regulated by the following financial authorities:

  1. Financial Conduct Authority (FCA) – the regulatory body for the UK
  2. Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)- the regulatory body for Germany
  3. Cyprus Securities Exchange Commission (CySEC) – the regulatory body for Cyprus
  4. Australian Securities & Investment Commission (ASIC) – the regulatory body for Australia

Pepperstone is regulated by top-tier authorities across the globe that demand the strictest levels of transparency, financial accountability and trust.

Spreads & Fees

Pepperstone has four different account types: Standard, Razor, Managed and Spread Betting. The standard account only charges you through the bid offer spread. The Razor account charges you a raw spread plus a commission.

The table below shows the minimum spreads for each of the major forex pairs as listed on the Pepperstone website and compares them against the industry average.

Pepperstone Spreads

Note: Spreads are variable and can change depending on the time of day and market conditions. For information purposes only.

The above spreads are very competitive compared to the industry average. However, these spreads are raw spreads and depending on the account you choose will have added costs. The standard account adds 1 pip on top of the raw spread, 1 pip equals $10 per 100,000 traded.

The razor account passes on the raw spread as it is and ads a commission per lot. The commission depends on the account currency and the trading platform you are using. For example, MT4 & MT5 platforms carry a commission of £2.29 per 100,000 traded or £4.59 round trip.

Platforms

Pepperstone offers a choice of platforms among 3 of the most popular and well-known in the industry. You can trade on MT4 & MT5 or cTrader, all 3 allow you to use a web based version as well as the downloadable one. Pepperstone made a good choice in our opinion, with all 3 platforms offering state of the art charting and automated trading. Trading shares is only available on MT5.

They also offer a feature for tracking technical indicators & chart patterns called Autochartist. This add-on operates within the MT4 & MT5 platforms, giving you alerts to technical indicators. You can back-test your criteria to see how effective they are. It allows you to create alerts based on chart patterns or indicators where you can set a minimum probability value.

Pepperstone Platforms

Mobile Trading

All three platforms are offered with their respective mobile versions. Some limitations incur compared to their desktop versions. However, they are extremely useful to stay up to date on market movements and manage your account on the go.

Benefits of the Pepperstone mobile apps include:

  • Most popular and well-known apps in the industry
  • Position management & trading on the go
  • One-click trading across all platforms

The MT4, MT5 and cTrader mobile apps are available in the App Store and Google Play.

Pepperstone Mobile Trading

Education

Education is one of Pepperstone’s strong points. The broker has 4 topics for beginners under the Education dropdown menu. The beginners' topics are Learn to Trade CFDs, Learn to Trade Forex, Learn to Trade Crypto and Learn to Trade Shares. They also have a section on training guides, covering a variety of subjects with special attention to automated trading. There is also a section for webinars with live schedules and a library to view videos on demand. Trading topics covered include:

  • Risk management
  • Technical analysis
  • 10 trading terms you need to know
  • Fundamental and technical analysis of cryptocurrencies
  • How does forex trading work
  • Fundamental analysis
  • Trend lines

Their educational material covers most of the main points a beginner needs to get started. They also have a trading course for MT4, very useful if you are new to trading or new to the MetaTrader software. You will also have access to a demo account giving you the chance to get acquainted with their platforms or practice some paper trading if you have just started.

Research

Research at Pepperstone is presented mainly by in-house staff. The team posts articles on a daily basis with a clear skew towards macro events and news. They also receive some help from external third parties. These are companies that are in the business of technical & fundamental analysis and trading tips and advice. One such contributor to their research is Boris Schlossberg who appears regularly on places like CNBC and Reuters. Live news feeds are also available directly through all 3 apps.

Trader Support

Customer support is available 24/5 in 13 languages, which is slightly a shorter list than the number of languages other top global brokers offer. Languages offered include Spanish, Italian, German, Polish, French, Portuguese and Chinese among others.

You can contact customer support via:

  • Online chat
  • Telephone
  • Email

Verdict

Pepperstone offers a comprehensive service for new and seasoned traders alike. We particularly appreciate the choice of platforms. Choosing 3 of the most popular and well-known apps for retail traders on the market. The popularity of the app should attract seasoned traders that have used them before. As well as beginners who can choose among 3 platforms that offer retail traders first-class tools.

Their Razor account offers competitive bid offer spreads compared to the industry average. Even with the added commissions the Razor account still provides a cost-effective rate. The broker has plenty of educational material for beginners in particular, and a library of videos on a variety of subjects. Their research is of high quality and with the help of external teams creates a highly specialized product.

74% of retail investor accounts lose money when trading CFDs with this provider.