Pepperstone review summary
Recommended for forex traders looking for great account opening and customer service
Pepperstone is an Australian forex broker that also offers CFDs. It was established in 2010 and opened a London office in 2015 to better serve its European clients. After Brexit, new clients registering from the EU are served by Pepperstone's German and Cyprus entities.
Pepperstone is considered safe because it's regulated by 7 national regulators, including three top-tier financial authorities: the UK's Financial Conduct Authority (FCA), Germany's BaFin and the Australian Securities and Investments Commission (ASIC).
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Pepperstone review
Pepperstone pros and cons
Pepperstone's account opening is fast, easy, and fully digital. Customer service provides quick and relevant answers. Deposit and withdrawal processes are user-friendly and, in most cases, free of charge.
On the negative side, you can only trade forex and CFDs.
| Pros | Cons |
|---|---|
| • Fast and fully digital account opening | • Mostly CFDs offered |
| • Great customer service | • MetaTrader platform is basic |
| • Seamless and free deposit and withdrawal |
| 🗺️ Country of regulation | UK, Germany, Cyprus, Australia, United Arab Emirates, Bahamas, Kenya |
| 💰 Trading fees class | Low |
| 💰 Inactivity fee charged | No |
| 💰 Withdrawal fee amount | $0 |
| 💰 Minimum deposit | $0 |
| 🕗 Time to open an account | 1 day |
| 💳 Deposit with bank card | Available |
| 👛 Depositing with electronic wallet | Available |
| 💱 Number of base currencies supported | 9 |
| 🎮 Demo account provided | Yes |
| 🛍️ Products offered | CFDs in forex, crypto, commodities, shares and indices |
Pepperstone review
Fees
Pepperstone has low forex and non-trading fees, with no inactivity or account fees charged. However, CFD financing rates are high for a few assets.
| Pros | Cons |
|---|---|
| • Low forex fees | • High costs for holding positions overnight |
| • No withdrawal fee | |
| • No inactivity fee |
If you want to dive into more details about Pepperstone's fees, visit this page: Pepperstone fees.
Pepperstone review
Account opening
Pepperstone's account opening process offers a rewarding experience. It is fully digital, user-friendly, and requires no minimum deposit for the Standard account.
| Pros | Cons |
|---|---|
| • Fast | • None |
| • Fully digital | |
| • No minimum deposit |
Can you open an account?
Pepperstone accepts customers from all over the world. Notable exceptions include the US, Canada, New Zealand and Japan.
A detailed step by step guide and further info about account opening is available in the following article: Pepperstone account.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Pepperstone review
Deposit and withdrawal
Pepperstone provides plenty of deposit and withdrawal options, as well as a wide selection of account base currencies. However, there is a high, $20 fee for bank withdrawals for clients outside the EU and Australia.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • High bank withdrawal fee for clients outside the EU/Australia |
| • No deposit fee | |
| • Several account base currencies |
You will find detailed information about the minimum deposit and withdrawal options in the following articles:
Pepperstone review
Trading platforms
Pepperstone's web trading platform is provided by MetaTrader. The interface is highly customizable, available in many languages, and has a clear fee report. On the other hand, it lacks a two-step login and price alerts, and its design is outdated.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability for workspace |
| • Clear fee report | |
| • Two-step (safer) login |
| Trading platform | Scores | User-friendliness |
|---|---|---|
| Web | 2.8 stars | Mid-range |
| Mobile | 3.8 stars | Great |
| Desktop | 3.4 stars | Mid-range |
Detailed trading platfrom test results and features of the web, mobile and desktop trading platforms is available in the following article: Pepperstone trading platform.
Pepperstone review
Markets and products
At Pepperstone, you can trade CFDs in forex, crypto, commodities, shares and indices. This means that many popular asset classes such as real stocks and ETFs are missing.
At Pepperstone, you can trade 1000+ stocks as share CFDs, including large-cap companies like Boeing, Facebook, Apple, Exxon and Alibaba. You can go long and short. After-hours trading is possible (this is when earnings are typically released).
Up-to-date details about available markets and products are available in the following article: Pepperstone markets and products.
Pepperstone review
Research
Clients have access to trading ideas based on technical tools and market reports written by Pepperstone's research team.
| Pros | Cons |
|---|---|
| • Trading ideas | • Newsflow is basic within MetaTrader |
| • Daily market analysis | • No fundamental data available |
For detailed information about the research tools, check out the following article: Pepperstone research.
Pepperstone review
Customer service
Pepperstone's customer service is great. You can reach them on several channels and will get quick and relevant answers. However, it does not operate on weekends.
| Pros | Cons |
|---|---|
| • Phone support | • No 24/7 support |
| • Live chat | |
| • Fast response time |
For more details about their customer service, check out the following page: Pepperstone customer service.
Pepperstone review
Education
Pepperstone has great educational materials. You can use demo accounts, participate in webinars and watch educational videos.
| Pros | Cons |
|---|---|
| • Demo account | • None |
| • Trading platform tutorial | |
| • Educational videos and webinars |
Detailed information about education tools is available in the following article: Pepperstone education.
Pepperstone review
Safety
Pepperstone is regulated by 7 financial regulators including top-tier regulators, such as the FCA in the UK. At the same time, the company is not listed on any stock exchange, does not disclose financial information and does not have a bank parent.
| Pros | Cons |
|---|---|
| • Majority of clients belongs to a top-tier financial authority | • Does not hold a banking license |
| • Negative balance protection for most clients | • Not listed on stock exchange |
| • Financial information is not publicly available |
Detailed information about the safety profile of Pepperstone is available in the following article: Pepperstone safety.
Pepperstone review
FAQ
We recommend Pepperstone for forex traders looking for a great account opening experience and superb customer service.
Below you can find links to all aspects of Pepperstone in this comprehensive collection.
We have compiled what's relevant about Pepperstone the company in this article:
About Pepperstone , the company
Further reading:
- Pepperstone fees
- Pepperstone minimum deposit
- Pepperstone Minimum Deposit from South Africa
- Pepperstone Minimum Deposit from Kenya
- How to withdraw from Pepperstone
- Pepperstone's customer service detailed
- Is Pepperstone considered safe?
- Pepperstone research and analysis tools
- Opening an account at Pepperstone
- Pepperstone available instruments
- Pepperstone trading platforms
- Pepperstone MetaTrader
- Does Pepperstone have MT4?
- What is Pepperstone's cTrader?
- Does Pepperstone have low spreads?
- Pepperstone app
- Can you trade options at Pepperstone?
- Pepperstone alternatives
