PepperStone Broker ReviewMinimum Spread : 1.13
Foundation Year : 2010
Min Deposit $ 200
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PepperStone Broker Review – Read it Before You Sign Up: In this article, we shall read the Pepperstone broker review 2020. We would see them in detail and recognize their good as well as bad points. All the review shall be from a customer point of view. Let us first start with some brief details.
Pepperstone group, established in 2010, is an Australian broker which has seen immense growth in just one decade. The reason is their excellent service and product quality. The customer base of the online trading platform has grown to 57000 in 10 years with daily transactions amounting to around $12.55 Billion. There are over 150 financial instruments available for trading with no trading fees and tight spread charges. The notable things are top tier regulations and award-winning customer service. Also, the trading platforms are one of the best. Read the full review to get more details.
Here Advantages & Disadvantages – PepperStone Broker
- Smooth and Understandable User Interface
- Top Tier Regulations
- Excellent Customer Service
- Tight Spread and Low Fees
- Sophisticated Education Portal
- Demo Account for 30 Days only
- No Negative Balance Protection for Non-EU Users
In detail PepperStone Broker Review
1. Pepperstone Broker Scam or Legit? (Regulations)
Pepperstone is a regulated broker with licenses from two top tier financial bodies. The bodies are Australian Securities and Investment Commission (ASIC) under license number ACN 147055703 and AFSL 414530 and also under UK’s Financial Conduct Authority (License number 684312).
These regulators have strict guidelines for brokers under them and any mishap can take their licenses away from them. Moreover, there is a protection given to the UK’s traders’ up to 50,000 Euros on behalf of FSCS (Financial Service Commission Scheme). Thus, there is no chance that the pepperstone broker is a scam. They are safe and secure to trade.
2. Assets and Instruments
Although PepperStone is a pioneer of forex pairs; it provides trading options for stocks, cryptocurrencies, CFDs, metals, commodities, indices, etc. There is no limit on trading any commodity in any type of account but the range of products other than currencies are significantly less. You might also face difficulty in diversifying your portfolio.
So far, there are 61 currency pairs, 15 other commodities, and 64 CFDs. A beginner might not face any issue with this, but an advanced trader would surely need more than this.
3. Account Types
There are two types of accounts available for trading on Pepperstone, i.e. standard account and razor account type. The difference between them is that a standard user might be charged more spread fee; however, the razor client would benefit from tight spread charges. But note that there is an extra commission for trading in razor type too.
In total, standard account type is suitable for beginners who trade less transactions and the razor is for professionals who want smooth and fast transactions with low spread charges.
Note that, there is a strict guideline from financial bodies regarding the leverage facility and PepperStone doesn’t have any influence over them. In the UK, the maximum leverage is 1:30, while the same ratio increases to 1:500 in Australia.
The PepperStone customer service team is appreciable and has bagged much recognition for the same too. The broker serves 24 hours a day and 5 days a week to their clients in several languages. Moreover, one can contact them via phone, email, live chat, online forms, as well as through social media pages. The response time is less than two minutes and their office operates in Australia, London, Bangkok, and Dallas.
Also, to solve common queries of their clients the pepperstone FAQ section is also there.
The education portal of pepperstone includes a wide variety of material. It includes videos, E-books, courses, webinars, seminars, and several guides, especially made for different topics. The best thing is the portal is divided into seven categories as per the topic and asset type. Moreover, the language is clean, brief, and easy to understand but the material might be a little difficult for novice traders.
Overall, there is a scope of improvement in the material for beginners but overall the portal is very good.
6. Research Tools
Although Pepperstone’s research analysis tools and materials are above most brokers, it has deteriorated more than last year. There is no smart add-on tool on Meta trader 4 for helping users. However, the MT 5, cTrader, and MetaTrader 4 are still available for everybody.
Moreover, the fxlounge.com research portal, which was online on their website, last year, has been taken off now. Other web-based research is also fine but is very much unorganized for a novice trader to understand and use.
But, the market news analysis by industry expert and Pepperstone founder, Chris Weston, is still there, and one can also subscribe to the daily market report portal for updates.
7. Trading Platforms
Pepperstone trading platforms are supportable in web, desktop, and mobile application. The three major platforms, i.e. MT 4, MT 5, and cTrader are available on Pepperstone. The design is at par with the industry standards but you can set price alerts and notifications on it.
Some other features are trading signals, charts & patterns, automated trading, hedging, one-click trading, OCO, Interest on margin, and scalping.
Both new and experienced traders shall not face any problem in trading and making a price decision with the help of these tools.
8. Deposit & Withdrawals
There are several methods available to withdraw or deposit funds on Pepperstone. You can use bank wire transfers, credit/debit cards, Union pay, Bpay, Paypal, Skrill, and many more portals to make your payment. The usual transfer time is three to five working days and is very easy to execute.
Although there are no charges on Pepperstone deposit and withdrawals, some third party payment websites might take a fee on withdrawals. There is also a conversion fee if you want your payment in some currency other than your base one.
9. Demo Account
The users of Pepperstone can use their virtual account service free of cost by just signing up on their website. The limit for it is 30 days, and beyond that one needs to start real trading. Also, you would get virtual money worth 50,000 Euros to practice and can use all types of tools to get the real experience.
10. Bonus and Offers
PepperStone focuses on delivering the best service to their clients and not in pressuring them with bonuses and offers to add funds. There is no offer from their side but there is a premium rebate programme for razor account users. However, you need to fulfill certain requirements to be eligible for it.
So, this was the Pepperstone broker review 2020. You must carefully read the advantages and disadvantages to get the detailed idea of an online trading platform. Let us now move to our last section.
The Bottom Line
Pepperstone is undoubtedly a well-reputed and excellent broker. They are safe to trade and no fear should be in the user’s mind related to their funds. The technology is the backbone of Pepperstone as they use automated social trading solutions and other 30 plugins. However, they need to work on their range of instruments and trading platforms to be the best online broker.
In total, it is suitable for both, a new trader and an advanced one. If anybody is looking for a very good broker with low charges and high safety, then Pepperstone should be their priority.
At last, the decision is on you and we’re sure that it would be based on rational and logical factors.
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