Pepperstone Reviews Is a reliable broker? Depth analysis
pepperstone Forex Trading is A top tier Austronesian forex broker "pepperstone australia "
Account Minimum: AUD $200
Fees: Advertised spreads "from 0.0"
Best for: Australians looking for top quality
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- Mobile Experience
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Opinions about the Pepperstone broker
In this article it is time to analyze in depth the reviews of clients of Pepperstone , the Australian-born broker that today is already one of the benchmarks in the international online trading sector.
All the data analyzed in this article is based on our own experience and the compilation of positive and negative reviews of users that we have found in various investment forums, blogs and specialized web pages. Go for it:
What is Pepperstone?
Pepperstone is an online CFDs and Forex broker . The origin of this financial intermediary dates back to 2010 , in Australia , a country in which it enjoys a good reputation .
It is a broker of the ECN / STP type , a pure intermediary, without its own trading desk ( No Dealing Desk ), therefore the trading orders that the operator launches are transmitted to the market and the broker does not act as counterparty, so There are no conflicts of interest between it and its clients (as it can happen in “Market Maker” brokers).
As we will see in detail later, Pepperstone is a broker regulated by the UK FCA and the Australian ASIC . It allows trading in a wide range of financial instruments such as Forex market currencies, cryptocurrencies, stock indices, precious metals, energy, raw materials, …
You can open an account in this broker from just € 100 minimum deposit , the spreads it offers are quite low and any trading strategy is allowed without any restriction (scalping, hedging, EAs, …).
Let’s see below the reviews of users about Pepperstone grouped into several categories:
Reviews about Pepperstone trading platforms
There are several options when choosing the trading platform to operate with the Pepperstone broker, although it also depends on the type of account we open.
For a Standard Account (the most basic one, as we will see later), only Metatrader is allowed. Pepperstone offers Metatrader 4 and Metatrader 5 .
This platform is well known, the most used by traders around the world and, in addition, highly valued by the user community , as we can see in numerous comments like this:
If you decide to open a more advanced account (Razor Account) you have the possibility to operate with the cTrader platform , a high speed platform ideal for scalping and using trading algorithms.
We have also located mostly positive reviews about cTrader , which in addition to Pepperstone is also offered by some other online brokers. In our opinion it is more focused on experienced traders than for example MetaTrader which is suitable for users of all levels.
Both types of platforms can be used by downloading and installing on your computer or through any web browser without installing anything thanks to the webtrader version.
In addition to the previous platforms offered by Pepperstone, we still need to talk about their respective versions for mobile phones and tablets with iOS or Android operating systems . In this case, the best source of comments and reviews can be found on Google Play and the App Store.
In general , the user experience is good, although it can be improved in some aspects. Remember that the versions for mobile devices generally have a series of limitations for market analysis and optimization with respect to PC platforms. These deficiencies are usually motivated by the functional and technical aspects of the devices for which they are intended. As a main advantage they offer maximum flexibility to carry out and / or supervise our operations from anywhere and at any time .
Pepperstone service reviews
– Available instruments:
Pepperstone gives the possibility of operating with a wide variety of instruments , specifically:
- Forex (Foreign Exchange Market)
- Stock indices
- Energy raw materials
- Precious metals
- Agricultural raw materials
Is something missing? Of course, individual actions . More and more traders are approaching their operations through these versatile financial instruments. Actions allow for a wide variety of strategies.
Pepperstone is a broker specially oriented to the currency market . Forex continues to be one of the most important markets for its high liquidity, its hours, its different pairs (each with specific characteristics and volatility, which allows the trader to choose their preferences) and their low commissions.
If what is intended is to operate with shares, we already know that with Pepperstone it is not possible and this is reflected in the reviews of some users that we have found. If in your case you want a broker that allows you to trade stocks, you can see this list: Stock brokers .
– Trading accounts:
The actual accounts Pepperstone have different requirements for initial deposit (100 € in the Standard, 200 € Razor account in the account) and there are some fundamental differences between them (not just commissions), for example:
– The Standard account : It is the most basic type of account of the Pepperstone broker. It applies commissions in the form of a Spread (differential between the purchase price and the sale price). These spreads are from 1 pip for the most liquid assets. With this account the trader only has access to the Metatrader platform.
– The Razor account : It is the most advanced account, without limitations. With it you have access to the cTrader or Metatrader platforms, lower spreads (Spreads) and can be up to even 0 for the most liquid assets (with commission per lot operated), allows you to use Expert Advisors,…
In addition to the above, it is possible to open a free demo account with $ 50,000 of virtual balance that will be available for 30 days. It is a very useful tool to test the broker’s trading platform and trading conditions.
On the forex.es portal we have found some negative reviews about the experience with the demo account although, it seems, the deficiencies are corrected when moving to the real accounts:
Another negative aspect, from our point of view, is the inability to operate with the demo account for an unlimited period, as can be found in other brokers. Despite this, 30 days is a period at least enough to test the characteristics of the broker and see if it fits what we are looking for.
– Access requirements:
Like any other online broker, Pepperstone has a simple procedure to open any of the accounts seen in the previous section. It’s just a matter of accessing their website: https://pepperstone.com/en/
The process is guided by the intermediary and the requirements are as follows:
- Have the ability to contract (it is assumed, unless the client is a minor or is disabled for any reason).
- We will need to provide an email address.
- Also offer a mobile phone number.
- Send the supporting documentation of our identity, our address and the ownership of the payment method chosen to deposit / withdraw funds. This process is common in all regulated brokers.
- Make a deposit (from € 100, depending on the account in question).
The truth is that the access requirements to work with Pepperstone are the industry standards . Perhaps this is why no one stands for or against.
– Customer service:
Pepperstone is internationally considered a good broker when it comes to customer support, but it has an important point of improvement when it comes to customer service in Spanish . Despite the fact that its website and trading platform are in Spanish, customer service through the various means it offers is in English.
We have found several reviews that reflect this deficit, such as that taken from the Trustpilot.com portal
Otherwise, the means of contact are various and appropriate:
- It has a 24-hour service.
- Assistance during the weekends.
- Possibility of contacting by email.
- Various telephones for international clients.
- Chat online on their website.
As you can see, Pepperstone’s customer service is very complete . It is a real shame that it is overshadowed by not being available in Spanish. We assume that they will be able to incorporate this option as their clients increase in Spain and Latin America.
Reviews about the reliability of Pepperstone
Pepperstone Group Ltd. , Headquartered in Australia, is the company that acts as the business hub. It also has offices in London, Shanghai, Dallas and Bangkok.
Pepperstone Group Ltd is a company licensed and regulated by the Australian Securities and Investment Commission (ASIC) under number ACN 147 055 703 and is the holder of the Australian Financial Services License (AFSL).
Here in Europe it operates through the London-based company Pepperstone Limited. Pepperstone Limited is regulated by the London Financial Conduct Authority (FCA) , under license number 684312. The FCA is one of the most rigorous financial supervisors today.
We have checked the FCA records and see that Pepperstone is duly authorized:
We have not found negative reviews in this regard, except for any doubts as to whether it is an Australian company affected by European regulations. By being based in London and operating with a company located in the United Kingdom, we see that this is the case (whenever we choose the London-based company to operate).
In addition, this FCA regulation implies another series of advantages in terms of the security of client funds , the company’s solvency requirements , …
As if this were insufficient and the broker fails, you are required to join a guarantee fund (compensation fund). In the event of insolvency payments being suspended, this fund indemnifies the customer with a maximum of £ 50,000 .
To conclude, we just need to be sure that the broker does not misuse the funds. This is also true due to the fact that the regulatory body imposes that clients’ funds must be segregated and guarded by a bank that is not the broker itself. The segregation of funds prevents the broker from using them for purposes other than fulfilling trading orders. You may not even have the funds to meet a temporary liquidity need. The money is in a bank account, with an entity, that works, but does not belong to Pepperstone. These client funds cannot be seized or affected by the financial situation of the company either.
To reinforce its security, the Pepperstone broker itself has taken out insurance with the Lloyds firm . This insurance is also designed to compensate customers in the event that any type of problem can occur.
The reviews that we have found on the security offered by this brokers have been favorable .
Finally, we will analyze a key aspect such as deposits and withdrawals of funds :
The mechanism for making deposits is simple , just click on a button and the process starts (section “Finance account”). As for the media, Pepperstone has a wide variety to choose from:
- Credit or debit card
- Wire transfer
- BPay (Fast Transfers Between Australian Banks)
- POLi instant bank transfers
- China Union Pay
- Quiwi Wallet
- B2B (transfers between brokers)
Bank transfers are the slowest means (between 12 hours and 3 business days) while electronic means of payment are the fastest. According to our assessment, it is a more than adequate amount of means and with reasonable terms . Some payment methods may apply some commission, but this is already foreign to Pepperstone.
Regarding withdrawals , normally, the payment method chosen for the deposit is the means that is used by default for withdrawals . Many intermediaries offer different means, but for security purposes, one is usually used, to be chosen by the client, for cash movements in both directions (enter and withdraw).
We contrast this information with what Pepperstone’s own website exposes:
We have found no negative views on the deposit and withdrawal process with Pepperstone except for a few old ones who complained about the lack of flexibility in allowing withdrawals only by bank transfer . Today the broker seems to have overcome this drawback that it would have a long time ago because it has added several alternative payment methods so that the user can use the one that best suits them.
After reviewing what is stated in this article, we can conclude that our opinion about the Pepperstone broker largely coincides with the reviews of other users that we have found:
- Pepperstone is a regulated and reliable broker .
- It offers a good level of service and the trading platforms it provides are highly valued .
- It is also a good broker for experienced traders thanks to its ECN / STP execution model without conflicts of interest and in which any trading strategy is welcome.
- You have quite a few instruments available to invest. It is especially indicated to operate in the Forex currency market . The possibility of trading stocks is missing.
- You should improve by offering your customer service in Spanish. .
As you can see, Pepperstone has aspects in which it stands out positively and others in which it can improve . If you want to try this online broker for yourself you can open a real account with a minimum deposit of just € 100 or open a demo account with $ 50,000 of virtual balance to practice and test the trading conditions of this broker.
And if you already have experience working with this broker you can send us your own reviews about Pepperstone using the comment form at the bottom of this page. Also, as always, you can share this article on social networks (Facebook, Twitter, Google +, …) Thank you.