Pepperstone Broker Review
Pepperstone is one of the well-known Forex brokers who not only offer currency exchange but CFDs and indices. Established in 2010, the broker has experienced exponential growth in the last few years. Recently in 2015, the broker opened an office in London to cater to the wider European market. If you have an interest in cryptocurrency trading, Pepperstone broker has the option of trading cryptocurrency CFDs. Although relatively new to the market, they are considered one of the best online brokers with an enviable reputation. They often feature in our best forex broker and best CFD brokers in a number of regions in the world.
Regulations and reputations
When it comes to investment business, regulations play a vital role. Many online brokers are offering their service to their clients even though they don’t have proper licensing to offer such service. Pepperstone is regulated by the FCA (Financial Conduct Authority) in the UK (FRN: 684312). The firm is also under the strict regulations of the Australian Securities and Investment Commission (ASIC, AFSL#414530), you can trade assured your funds are secured since Pepperstone segregates your funds in a Tier 1 bank.
• Currency pairs: Pepperstone is currently offering 72 currency pairs for their retail traders. Moreover, You can trade with a leverage of up to 500:1.
• CFD Trading: CFD Trading stands for Contract for Difference. Some of the elite class traders prefer CFD trading to currency trading. At Pepperstone you will have access to 14 global stock indexes.
• Precious metal trading: Trading the precious metal is extremely popular in today’s world. At Pepperstone you can trade gold, silver, and palladium at a premium trading environment. However, the leverage is variable when it comes to precious metal trading.
Recently in 2017, Pepperstone announced it would introduce CFD trading in the following cryptos:
• Bitcoin (BTC)
• Ether (ETH)
• Dash (DASH)
• Litecoin (LTC)
• Bitcoin Cash (BCH)
• Ripple (XRP)
The option allows a trader to take advantage of the volatility in the crypto market without owning or opening a crypto wallet. The leverage goes up to 5:1, however, one needs to be cognizant of the fact that the crypto market is highly volatile. Leverage in this space should be approached with a lot of caution.
Comparison table of its competitors
|Pepperstone||Saxo Bank||IG Markets||Plus 500||Etoro|
|Available trading instruments||Index CFDs, Precious metals, Energies, soft commodities, crypt currencies||35,000 instruments on 8 asset class||Share CFDs, Forex, Indices, commodities, other markets||Indices, Forex ,commodities, shares, option, ETFs, Crypto||Forex, ETFs, indices, stocks, commodities, Crypto|
|Trading platform||MT4,MT5,C trader, and mobile platform||SaxoTraderGo, SaxotraderPro||MT4, online trading platforms & apps, advanced platforms||Web trader, Windows 10 trader, windows, android, iOS app||eToro web trader, eToro open book, etoro Mobile app|
|Shares & ETFs||9,000+||0.10%|
|Spread||Starting from Zero pips||Starting from 0.1 pips||Starting from 0.1 pips||Variable spread||Variable spread|
|Leverage||Up to 1:500||Tiered Margin System||Up to 1:100||Up to 1:300||Up to 1:30|
|Crypto currency trading||Yes||Yes||Yes||Yes||Yes|
|Stop loss and take profit||Yes, STP order execution||Yes, Directly filled by Saxo Bank||Yes, orders filled by IG Markets||Guaranteed stop orders||Yes, orders filled by eToro|
Pepperstone broker does not have an in-house trading platform. Instead, the broker offers 3 third-party platforms; MT4, MT5, C-trader. Check out our Best Trading platform review.
MetaTrader (MT4): Often seen as an industry standard, the platform offers a powerful and convenient trading tool to traders. It was developed by MetaQuotes Corporation in 2005 and remains to be one of the most popular trading platforms available today.
MetaTrader (MT5): Picking from its predecessor the MetaTrader 4, MT5 is an institutional multi-asset trading platform that provides very powerful trading capabilities. The platform can be accessed from a standard browser without the need of downloading or installing any software
C-Trader: The platform comes with unique features that allows a trader to enjoy a fast trading environment.
At Pepperstone you will have access to four different types of trading accounts. These are
1. Edge Standard
2. Edge Razor
3. Edge Swap free
4. Edge active traders
Edge standard and Edge swap free have zero commissions and STP spread. Your orders will be filled by the market at the best possible offered price without any requotes whereas Edge Razor and Edge active traders are mostly designed for the advanced trades with spread starting from zero. With edge razor, the commission is $3.5, but for active traders, you need to contact their support team to get the best-offered price.
Deposit and withdrawal
Pepperstone has a diversified payment processing partnership which even includes e- currencies like Neteller and skill. At Pepperstone you don’t have to bear any withdrawal or deposit fees which will eventually save tons of money in the long run. The following deposit options are available to traders.
• Wire transfer • Qiwi
• Credit card • Fasapay
• Debit card • Webmoney
• Skrill • PayPal
• Neteller • China Union Pay
Pepperstone doesn’t charge any commission; instead, the broker’s remuneration is in form of spreads. A spread is the difference between the buy and sell value of a security. Here are the spreads for major currencies, commodities and cryptos:
EUR/USD 1.0 PIPS
USD/JPY 1.0 PIPS
GBP/USD 1.1 PIPS
BITCOIN 50.0 POINTS
GOLD 0.5 POINTS
DAX30 1.0 POINTS
With a strong Educational section at Pepperstone, they are also considered a strong contender in the Best Brokers for beginners review. The resources available seem to have strong depth and breadth to support its traders.