Pepperstone Review 2021
Pepperstone is a forex broker which also provides CFDs. It was founded in 2010 and launched a London office in 2015 to better service its European clientele. Following Brexit, new customers enrolling from the EU are handled by its German and Cyprus branches.
Pepperstone is deemed secure since it is authorized by three top-tier financial authorities- the UK’s FCA (Financial Conduct Authority), Germany’s BaFin, and the Australian Securities and Investments Commission (ASIC).
When it comes to CFD trading, around 75 percent of individual investor accounts make a loss. You can evaluate if you grasp how CFDs operate and how much you can manage to face the chance of squandering your cash. This post will cover not just a generic Pepperstone review, but a Pepperstone UK review and Pepperstone broker review as well.
Pepperstone Review: Who Can Use It?
Pepperstone provides simple market access, allowing the client to concentrate on the more difficult job of attempting to trade the stocks profitably. Pepperstone is perfect for traders who seek a reasonable selection of low-cost services, a variety of user interfaces and account kinds, and responsive customer service.
Pepperstone promises minimal FX spreads, with no fee for the Standard account and zero margins with a commission for the Razor account. In the consumer FX brokerage market, this is quite intense.
The Financial Conduct Authority (FCA) regulates Pepperstone, which is one of the key regulatory bodies in the United Kingdom and is well-known across the world for being stringent in maintaining that market activity is fair for both consumers and companies. Clearly said, being regulated by a recognized government-backed body contributes significantly to a company’s reputation.
Traders understand the inherent risk of markets, but they want the peace of mind that their funds are not exposed to risks other than the ones they are taking, including counterparty risk. Furthermore, most customer money is kept in Tier 1 banks.
Pepperstone provides negative balance protection, but exclusively to clients in the United Kingdom. This has been an essential service that most online brokers now provide. The SNB incident in January 2015, which roiled markets, particularly the highly leveraged retail FX market, was most likely the cause.
Pepperstone provides customers with the option of either MetaTrader 4/5 or cTrader, a higher-end platform with immediate liquidity-provider pricing and sophisticated technical elements much like separable charts, back-testing, and algorithmic strategy integration.
Pepperstone Trading Accounts
Pepperstone has two major account categories – the Standard account, which has no commissions, and the Razor account, which has narrow spreads. A detailed Razor vs. Standard comparison chart contrasts these two trading accounts.
- Standard Accounts are ideal for people who are new to forex trading.
- There are no commissions, but the spreads are wider.
- Execution times are slower.
- Razor Account is intended for experienced traders and scalpers.
- With narrow spreads and the lowest total costs.
View the comprehensive trading account page to learn about all of the account kinds available from Pepperstone. In conclusion, most traders prefer the Razor account because of the reduced costs and faster execution times.
The active trader system, which therefore decreases trading expenses for large volume regular trading, is an added benefit of the Razor account.
Is Pepperstone Legit?
This Pepperstone review should help clear that Pepperstone is a legitimate and registered broker. Furthermore, Pepperstone is authorised to operate in each location in which it operates.
As a result, customers residing in the United Kingdom and the European Economic Area are handled by Pepperstone Limited, a licensed UK business regulated by the Financial Conduct Authority.
Furthermore, Pepperstone just acquired a CySEC license as of November 20th, ensuring that EU customers are completely protected under its regulations. It will also acquire a BaFIN license by the end of the month, guaranteeing German markets as well. More information may be found under the News category.
Because the broker is approved by the DFSA, clients from the MENA area and Dubai are also eligible for legitimate and regulated Forex trading opportunities. Furthermore, as part of its ongoing expansion, Pepperstone created an organisation in Kenya that is governed by the CMA, ensuring that the Africa area is also covered.
Pepperstone Trading Platforms
Pepperstone’s trading system and software emphasize the significance of productivity and then include other factors. Using 11 Pepperstone trading platforms delivering MT4 or its newer version MT5, as well as cTrader in different iterations, you genuinely obtain a strong trading solution with your own method of method or outcome, as all trading techniques are covered.
Web Trading Platform
MetaTrader4 is a popular choice since it supports a wide range of platforms, including web, desktop, and mobile apps. In addition, the platform has a rich, user-friendly interface and includes order management systems, indications, expert advisers, DDE protocols, and several other features.
Furthermore, Pepperstone upgraded its platform with Smart Trader Tools, a collection of over ten smart applications that improve trading efficiency.
Users of the cTrader Platform are also encouraged since the program is widely regarded as among the most inventive and ground breaking trading platforms accessible via the desktop site. Because the platform is built on computational logic, it performs well and enables effective position management in rapidly moving marketplaces.
The mix of Pepperstone’s liquidity and solid network results in high productivity. Pepperstone expands trading choices with social trading features, allowing you to leverage industry-leading ZuluTrade and its copy trading expertise.
The system is also accessible in a web version and via a software platform. However, cAlgo, a fundamental component of cTrader, is meant to be a sophisticated tool with robotics and indicators written in C# for straightforward functioning.
Pepperstone is also an active partner of Equinix, which develops cutting-edge Forex trading infrastructure that exchanges data directly with important partners and clients in close proximity.
Now, let’s move onto the education prospect in this Pepperstone review. Pepperstone provides at least 22 trading manuals grouped by skill level, including options for beginners, intermediates, and experienced users. There are plenty of forex instruction videos accessible. Although Pepperstone lacks CFD material, it makes up for it with greater forex information, yet it lags behind education competitors such as FXCM and CMC Markets.
Pepperstone features a “learn to trade forex” category, containing nine articles and one webpage in its CFD learning area, in addition to almost a dozen platform lessons. Every month, Pepperstone also hosts a few webinars. Pepperstone provides premium education information and trading signals from BK Forex to customers that invest more than $2000.
Pepperstone’s YouTube channel features a number of instructional films ranging from beginner to expert topics, like the “Master the Trade” program. We judged the material to be of excellent quality and comparable to the industry average in this area.
Pepperstone UK Review
If you are a trader in the United Kingdom, the trading terms with Pepperstone will be similar to those for traders outside of Great Britain; nevertheless, there are certain variations that should be noted.
While the various account types (Standard account, Razor account, Swap-free account), margins, trade execution, and trading platforms (MetaTrader 4 and cTrader) will remain the same with Pepperstone, the preceding distinction should be noticed.
The Financial Conduct Authority (FCA) would regulate traders in the United Kingdom. FCA rules must comply with the Markets in Financial Instruments Directive (MiFID) II recommendations established by the European Securities and Markets Authority (ESMA), which implies that some regulatory standards not found otherwise must be fulfilled. ESMA provides standards for both retail and professional brokers.
Pepperstone Review: Account Opening
When a trader might conclude that Pepperstone is the right platform for them, it is very simple to open an account. You may get to the Pepperstone page by clicking the ‘visit website’ link at the bottom of the page.
You would know after going through this Pepperstone review, that traders have a few minutes to complete the full application, assuming that all of the necessary information and data are easily accessible.
First, traders need to fill out a form that specifies the type of application that is desired. The trader might be an individual, a trust, or a corporation. Following that, the standard fields should be completed (for instance- name, mobile number, e-mail).
After filling out the form, more information, including numerous other personal concerns, will be requested. The trader would be able to choose the degree of leverage they want, and the broker would inquire about their level of competence.
The trader would then want identification and proof of address, such as presentation of a utility bill). Having a passport on hand will help you avoid having to prove your residence.
The trader will now be able to download the Forex Trading Platform and begin their trading adventure. This is obviously assuming that all documentation and necessary information has gone through the proper channels.
This treatment might take up to a week in some cases. If any problems develop, customer care channels would be accessible to help and advice. After you’ve registered up for a subscription, you’ll need to choose an exchange rate. Pepperstone UK has four base currency options: GBP, USD, CHF, and EUR.
The account currency value is the amount in which monies may be deposited and withdrawn. The forex broker provides a wide choice of fee-free financing alternatives, such bank transfers, and e-wallet payments.
Pepperstone Review: Customer Service
Acquiring a 3% increase in market share may not happen for no cause. Pepperstone’s rapid growth in the consumer Forex trading industry may be attributed to its excellent customer service.
Pepperstone was awarded the Investment Trends Overall Customer Satisfaction award, demonstrating that the support offered to brokers is merely unsurpassed. What are the key factors that have enabled Pepperstone to thrive in its customer service segment?
Personalised Customer Service
When it comes to establishing an award-winning section, having a staff with years of experience in the Forex trading business is a great place to start. These actual traders are capable of educating and assisting in the resolution of any Forex question.
Traders believe that even if they are beginners, intermediates, or specialists in the trading field, they may ask questions and seek assistance on any subject.
In some situations of high-volume trading, a specialised account manager might well be allocated to that specific forex broker, allowing Pepperstone to have a deeper understanding of the trading requirements.
Services are available 24 hours a day, seven days a week, whenever Forex markets are open throughout the world. The five locations, which are strategically placed in London, Shanghai, Dallas, Bangkok, and Melbourne, demonstrate Pepperstone’s aim to support all of its clients. This 24-hour assistance also broadens Pepperstone’s reach across merchants in the United Kingdom.
Pepperstone has an advantage in its capacity to participate in live chat to give traders a high degree of assistance. This service, like their phone customer support (with relevant country numbers for matching office locations), is available around the clock and is an excellent tool for guaranteeing brokers can always call out for support.
Although it is far less common, traders should be aware that email assistance is accessible. Furthermore, the CFD broker provides a variety of training tools to enhance the award-winning client service, including seminars and trading platform seminars.
- Safe & secure
- Free deposits & withdrawals
- Only Forex & CFD trading available