Last updated on October 3, 2023
Read this objective, unbiased, and informative Pepperstone review to learn everything there is about this award-winning brokerage firm. Join us, as we navigate through Pepperstone’s website to uncover the truth.
Is Pepperstone.com a legitimate Forex broker or just another scam? Learn this and much more from the analytical team here at thoughts.money (make sure you read till the end).
Before we start — we should warn our readers — 74.4% of retail investor accounts lose money when trading CFDs with Pepperstone (as of this writing). So, make sure you understand all the risks involved before making a deposit.
What you'll learn:
⓵ About Pepperstone
Pepperstone.com is headquartered in Melbourne (Australia) and is part of the Pepperstone Group Limited. The brand was founded back in 2010 by a team of seasoned pros who shared the same goal — to improve the online trading world.
Pepperstone has grown rapidly since then by expanding its global outreach. As one of the largest MetaTrader brokers, Pepperstone holds several licenses, is regulated in several jurisdictions, and has offices around the globe including:
Moreover, Pepperstone strives to deliver advanced technology, competitive pricing, 24/5 support, an ever-expanding list of products, ultra-fast order execution, and university-grade educational resources to traders all around the world.
❖ Pepperstone Awards
There are several Pepperstone broker awards including (but not limited to):
- Best Forex Trading Execution by FxScouts Forex Awards in 2021
- Best NDD Broker in the UK by Trading Guide Broker Awards in 2021
- Best Forex Broker in the Middle East by International Business Magazine Awards in 2021
- Best Broker in the World by InvestinGoal Best Broker Awards in 2021
- Best Forex Broker by DayTrading.com Broker of the Year Awards in 2021
- Best Spread Betting Platform by ADVFN International Financial Awards in 2020
- Best Global Online Forex Broker by Capital Finance International (CFI.co) Awards Winner in 2019
- Best Tailored Professional Trading Conditions by Professional Trader Awards in 2019
- Best Forex ECN Broker by UK Forex Awards in 2018
⓶Pros and cons
|➤ 10+ International Awards (Best Broker in the World, Best Global Online Forex Broker, and many others)|
|➤ Raw Spreads & Low Commissions (from 0.0 pips on Razor account)|
|➤ 5 Trading Platforms (MT4, MT5, cTrader, DupliTrade, TradingView)|
|➤ CFDs on 1200+ instruments (FX, Stocks, Crypto, Indices, and Commodities)|
|➤ Licensed & Regulated (Australia, UK, Cyprus, Germany, Kenya, UAE, and Bahamas)|
|➤ Powerful Research & Trading Tools (Algorithmic and Copy Trading)|
|➤ Informative Educational Resources (Articles, Guides, Videos, Webinars)|
|➤ No 24/7 support (only 24/5)|
|➤ No real stocks (only CFDs)|
|➤ No unlimited demo account (only for 30 days)|
⓷ Pepperstone regulation and licensing in more detail
All in all, Pepperstone regulation is very strict. And this is to protect you — and every single one of their potential clients. Pepperstone is licensed and authorized by:
- The Australian Securities and Investments Commission (ASIC) in Australia
- The Financial Conduct Authority (FCA) in the UK
- The Cyprus Securities and Exchange Commission (CySEC) in Cyprus
- The Federal Financial Supervisory Authority (BaFin) in Germany
- The Dubai Financial Services Authority (DFSA) in UAE
- The Capital Markets Authority of Kenya (CMA) in Kenya
- The Securities Commission of the Bahamas (SCB) in the Bahamas
Here at thoughts.money we only recommend licensed and regulated Forex brokers.
And the reason is simple.
Because this is the only way to trade with confidence.
Regulation adds a critical layer of security to your online trading. This is how you stay protected by scam brokers. If you see a broker who is unregulated then run away. As simple as that.
Regulation means that your funds are secure by being segregated from the broker’s funds. This is very important. It means that the broker cannot just take your money and run away.
Regulators make regular checks and if they even suspect anything wrong with the broker’s operations then they can issue fines, or even close the broker down entirely (if needed) to protect traders and investors.
Also, regulated brokers offer negative balance protection which means you can never lose more than your initial deposit. This is another important aspect not to be overlooked.
There are many cases where traders ended up losing their entire original deposit and then found out that they still owed money to unregulated brokers because there was no negative balance protection. This is key. Always keep this in mind when searching for a trusted Forex broker online.
⓸ Is Pepperstone safe or a scam
Before you create an account and click on the Pepperstone login button you need to know whether Pepperstone is a safe or a scam broker.
And this is why we are here.
Thoughts.money exists so that you — and every trader around the globe — can easily research and learn the specifics of each broker.
So that you can make informed decisions. And avoid losing your money to scam brokers.
Pepperstone is not a scam broker. Pepperstone is a trusted broker and currently serves more than 110,00 traders around the world.
The optimal trading conditions, the advanced technology, the 10+ international awards, the ultra-low spreads (from 0.0 pips on Razor account), the useful educational resources, the strict regulation from several tier-1 regulators (FCA and ASIC), the negative balance protection, the automated risk management system, and the friendly customer support, make Pepperstone a legitimate Forex broker.
However, if you are unsure and still wondering whether Pepperstone is a trustworthy Forex broker, then keep reading.
❖ Pepperstone spreads and fees
It’s clear that Pepperstone uses several liquidity providers from Tier-1 banks and institutions to offer competitive pricing with ultra-low spreads and deep liquidity on a large array of tradable assets.
◆ Pepperstone spreads
This makes Pepperstone fees very competitive while offering lightning-fast (less than 30 milliseconds) order execution. Spreads start at 0 pips (on EUR/USD) for Razor accounts and 0.6 pips (on EUR/USD) for Standard accounts.
◆ Pepperstone commissions
Commissions start at $0.04 (or $0.08 for a round-trip) per 0.01 lots for MetaTrader 4 and MetaTrader 5. Which is equivalent to $3.5 (or $7 per round-trip per lot). cTrader fees are slightly lower at $6 per round-trip (opening and closing a trade).
❖ Pepperstone fees explained
Here is an example so you can better understand the fees involved. Let’s say you are trading 100,000 EUR/USD (1 lot) on cTrader. The commissions will be $6 for a round-trip. This means $3 to open the contract and an extra $3 to close out the contract.
If you perform the same trade on MT4 or MT5 the commissions will be $7 in total ($3.5 for opening and $3.5 for closing the contract).
❖ Pepperstone minimum deposit
The Pepperstone minimum deposit is set at $200. There are 2 Pepperstone account types — Razor and Standard. The Razor account comes with raw spreads and is best for scalpers and algorithmic traders whereas the standard account comes with zero commissions and is most suited to new traders.
❖ Pepperstone withdrawal fees
There is no Pepperstone withdrawal fee and traders haven’t expressed any major Pepperstone withdrawal problems so far. However, you should note these:
- Withdrawal requests received before 08:00 (GMT) are processed the same day. After 08:00 (GMT), they are processed the next day
- Withdrawals must be returned to a bank account in the same name (or joint) as your Pepperstone trading account only
- Any International Telegraphic Transfer (TT) fees are passed onto the client
- Bank Wire Transfers usually take 3-5 working days
- On some occasions, withdrawals may take longer
❖ Pepperstone inactivity fees
There is no inactivity fee with Pepperstone. This means you can plate a trade without having to worry about the frequency of your trading.
❖ Pepperstone deposit fees
There is no deposit fee on Pepperstone either. This means that you will receive exactly as much as you deposit into your account.
With Pepperstone you can access free educational resources and boost your trading skills and knowledge. You can:
- Read articles and guides
- Listen to webinars
- Watch videos
Reading articles and guides is a great way to learn at your own pace. You can start with easy-to-digest articles and then add actionable videos. Once you feel more confident you can start listening to webinars to take your trading knowledge to the next level.
Then you can apply what you learn through a risk-free demo (paper) account which comes funded with up to $50,000 in virtual funds so you can practice your trading strategies before switching to live trading.
⓺ Customer support
Pepperstone offers customer support via email (email@example.com), live chat, and phone (+35725030573). There is also an easy-to-use FAQ section on their website where you can find answers to all your trading-related questions.
❖ How to open a Pepperstone account
Opening a Pepperstone account is easy and straightforward. Just click on the “Join now” button, fill out your information, complete the KYC (know your client) process, fund your account, and you are ready to trade.
❖ How to complete the KYC process
The KYC procedure is to protect you — the client. AML (anti-money laundering) procedures are mandatory for all regulated brokers. You can complete this step by simply uploading proof of residence, and proof of address, and by taking the appropriateness test (a short questionnaire) sent by Pepperstone.
❖ How to fund your Pepperstone account
Pepperstone accepts a plethora of payment methods including Visa, Mastercard, Debit/Credit card, Bank Transfer, and eWallet (PayPal, Skrill, Neteller).
⓼ Countries excluded from trading with Pepperstone
Pepperstone operates in more than 125 countries within:
However, Pepperstone Canada is not available. Also, the following countries are excluded as well:
- Afghanistan (AF)
- Argentina (AR)
- Armenia (AM)
- Azerbaijan (AZ)
- Belarus (BY)
- Belgium (BE)
- Congo (CG)
- French Polynesia (PF)
- Guyana (GY)
- Haiti (HT)
- Iran (IR)
- Iraq (IQ)
- Japan (JP)
- Kazakhstan (KZ)
- Lebanon (LB)
- Liberia (LR)
- Libya (LY)
- New Zealand (NZ)
- United States (US)
- Uruguay (UY)
- Zimbabwe (ZW)
- And others
⓽ Pepperstone trading platforms
Pepperstone offers 3 main trading platforms which are all available on web, desktop, and mobile.
❖ MetaTrader 4 trading platform
You can download MetaTrader 4 (MT4) directly from Pepperstone’s website. MT4 is one of the most popular trading platforms in the world. You can easily:
- Place trades from desktop, web, tablet, or phone
- Customize the platform as you like
- Build and run Expert Advisors (EAs) with MQL4
- Use Autochartist and Smart Trader Tools
❖ MetaTrader 5 trading platform
MetaTrader 5 (MT5) is available for all Pepperstone clients. MT5 is a more advanced trading platform than MT4 and comes with faster processing times, advanced pending orders as well as the newest tools and indicators so you can take your online trading to the next level.
Benefits of MT5 include:
- Easier to use
- Easier to code with MQL5
- Advanced platform customization
- Optimized processing of EAs and indicators
❖ cTrader trading platform
cTrader is also available via web, desktop, or mobile. It was created by Spotware to balance simple and complex functionality. This makes it ideal for both beginner traders and experienced investors too.
- Detailed trade analysis
- Large array of indicators
- Detailed order tickets
- Multiple take-profit orders
- Educational videos within the platform
cTrader also offers support in the following languages:
❖ Other trading platforms
You can also connect to TradingView through a Pepperstone Razor (raw spreads) account and boost your trading experience. Benefits include:
- Impressive charting technology
- Connection with the largest social trading network
- Automated trading via a simple coding language
- Large array of both pre-built and customizable indicators
- Access to economic calendar and market news
- Convenient desktop and mobile trading
- Direct trading from TradingView charts
Pepperstone also offers social trading through DupliTrade where traders can duplicate trades of other — more experienced — traders from all over the world.
⓾ Pepperstone review FAQ
❖ Can I try Pepperstone?
Yes, you can simply create a free demo account. Then click on the Pepperstone login button to log in, download the trading platform of your choice and start placing your trades (with up to $50,000 in virtual funds) anytime, anywhere.
❖ What funding methods does Pepperstone accept?
Depending on your country of residence, you can fund your account via:
- Debit/Credit card
- Bank Transfer
- eWallet (PayPal, Skrill, Neteller)
❖ Is Pepperstone safe?
Pepperstone Forex broker is safe and secure for all traders since they operate under several licenses, and are fully regulated by many regulators around the world.
❖ Is Pepperstone trading platform good?
Pepperstone offers an optimal trading environment for efficient online trading where traders and investors can place their trades with speed and accuracy.
❖ Is Pepperstone a good broker?
Pepperstone has won many awards in the past years. This makes Pepperstone a preferred choice when it comes to CFD trading.
❖ What is the minimum deposit for Pepperstone?
Trading at Pepperstone starts at $200 which is considered low. Some other brokers have no minimum deposit requirement though.
❖ Is my money safe with Pepperstone?
Your money is secure with this broker, but you need to be aware that by using Pepperstone leverage of up to 1:30 (for retail accounts) and up to 1:500 (for professional accounts) you can lose your entire capital.
❖ How many people use Pepperstone?
There are more than 110,000 retail clients all over the world who use Pepperstone for their online trading needs.
❖ Does Pepperstone offer a demo account?
Yes, you can open a free Pepperstone demo account through Pepperstone.com which comes with up to $50,000 in virtual funds so you can practice (for 30 days) your strategies in a risk-free environment with real market pricing.
So, are the Pepperstone reviews positive or negative? In this Pepperstone Forex review, the team at thoughts.money has gone through every bit of available information to uncover the truth.
We navigated through Pepperstone’s website, trading platforms, and educational resources. We also tested the demo account, tradable assets, and order execution. And we also compared the spread, customer support, minimum deposit, and withdrawal speed to come to a conclusion.
And our conclusion is that Pepperstone.com is a solid and trusted Forex broker — both for new investors as well as seasoned traders.
Nevertheless, we always suggest that you start with a free demo account and make sure you are aware of all the risks associated with derivatives and leveraged products before you switch to live trading — to minimize your risk and protect your net worth.