Pepperstone Review – Is Pepperstone Safe? Features and Fees Explained
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Pepperstone is a popular trading platform that specializes in low-cost CFDs across a variety of markets – including stocks, crypto, ETFs, indices, and commodities. The platform offers leveraged markets across all listed instruments, alongside support for MT4, MT5, TradingView, and cTrader.
In this Pepperstone review, we explore everything there to know about the platform, covering fees, regulations, trading tools, leverage limits, account types, and more.
Table of Contents
What is Pepperstone? Overview of our Pepperstone Review
Pepperstone is an online trading platform that specializes in contracts-for-differences (CFDs). This financial derivative offers seamless access to thousands of markets without owning the underlying asset. Instead, CFDs at Pepperstone simply track the real-time price of the asset being traded. In other words, if the price of oil is $97.50 per barrel, as will the respective CFD.
Supported markets at Pepperstone cover 1,200+markets across a wide range of assets. This includes dozens of major, minor, and exotic forex pairs, alongside currency indices. The latter tracks the value of a basket of currencies. Additionally, Pepperstone offers access to CFDs in stocks and ETFs, alongside commodities and cryptocurrencies (depending on the jurisdiction).
The platform offers two core plans. The first provides commission-free access to the financial markets, while the second enables traders to secure raw spreads that start from 0.0 pips. Both accounts come without a minimum deposit requirement and support debit/credit cards and bank wires. While Pepperstone does not offer its own proprietary trading platform, it does support third-party providers, including MT4. MT5, TradingView and cTrader.
This offers the flexibility to access Pepperstone via desktop software, web browsers, or a mobile app for iOS and Android. As is the case with most CFD platforms, Pepperstone offers access to leverage.
Depending on the jurisdiction, eligible clients can trade with leverage as high as 1:400, yet professionals can participate with 1:500. Those based in Australia, the UK, Europe, and several other locations leverage will be capped to 1:30 as a retail client, yet LATAM clients could have 1:200 instead.
All supported markets at Pepperstone offer the ability to go long or short. This means that trades can attempt to profit from both rising and falling prices. Pepperstone also offers useful research tools, which consist of expert commentary, key economic event coverage, and market insights. This is also an education hub for those that wish to improve their trading skills.
Pepperstone also is known for its convenient customer support channel, which is available via live chat and WhatsApp. Finally, and perhaps most importantly, Pepperstone is a regulated trading platform. This includes licensing and regulation by the FCA, ASIC, and DFSA. However, this strong commitment to regulation does mean that as a CFD platform, it cannot accept account applications from the US.
Pepperstone Pros and Cons
For a quick overview of our Petterstone review, check out the pros and cons of our findings below:
Pros
- Safe and regulated trading platform
- Leverage CFDs across 1,200+markets
- No minimum deposit
- Supports CFDs in stocks, ETFs, indices, crypto, forex, and commodities
- Multiple trading platforms supported
- Commission-free and raw spread accounts offered
Cons
- Only supports CFDs – so US clients are not accepted
Cryptoassets are highly volatile unregulated investment products. Always consider the risk of loss before proceeding.
Risk Warning FCA: 78.8% of retail investor accounts lose money when trading spread bets and CFDs
Pepperstone Supported Markets
Now that we have covered the basics, let’s dive into our comprehensive Pepperstone review – starting with its supported markets. As noted above, Pepperstone offers access to more than 1,200 CFD markets.
To reiterate, this means that traders do not own the actual asset that they are trading. For instance, if trading stock CFDs, the trader does not own any shares in the company. Instead, they are merely speculating on whether the price of the stock CFD will rise or fall.
Nonetheless, below we offer an overview of the core markets supported by Pepperstone:
- Forex: Dozens of forex pairs across the majors, minors, and exotics
- Forex Index: This offers access to a trading market that tracks a basket of currencies
- Stocks: Stocks can be traded across multiple markets – including the US, UK, Germany, and Australia
- ETFs: Trade more than 100+ETFs from 35 different countries
- Commodities: Access metals like gold, silver, and platinum, alongside soft commodities such as cocoa, lumber, and soybeans. Energies like oil and gas are supported too.
- Cryptocurrency: More than two dozen crypto assets are supported – covering everything from Bitcoin, Ethereum, and Dogecoin to Ripple, EOS, and Polkadot.
It is important to note that clients from the UK can no longer trade crypto asset CFDs, unless they are a professional client. Other jurisdictional restrictions may apply – so be sure to check prior to signing up.
Pepperstone Trading Fees and Accounts
In this section of our Pepperstone review, we will explore another two metrics collectively – fees and accounts. The reason for this is that the trading fees payable will ultimately depend on the chosen account type – of which there are two options.
We should, however, note that both the spread and razor accounts come with many similarities. For example, both accounts come with a minimum and maximum lots trading size of 0.01 and 100, respectively. Both come without a minimum deposit and support multiple base currencies. And both support scalping, EAs (expert advisors), and hedging.
Finally, both accounts operate via a no-dealer desking model.
Standard Account
The standout feature with the standard account is that it offers commission-free trading.
On this account, the average spread on EUR/USD amounts to 0.77 pips. According to Pepperstone, this offers institutional grade spreads, but with a markup. The standard account is clearly aimed at new and inexperienced traders.
Razor Account
For more experienced traders – or those using scalpers and algorithmic strategies, the razor account will be the most suitable option. This offers access to institutional grade spreads without any markups.
This means that the average spread on EUR/USD consistently sits between 0.0 and 0.3 pips. This does, however, attract a trading commission of $3.50 per lot traded.
Pepperstone Non-Trading Fees
Like all CFD trading platforms, any positions left open overnight will incur swap fees. This fee is otherwise known as overnight funding.
The specific amount of interest payable will depend on a wide variety of factors, such as the asset, current market conditions, and leverage size.
There are no account maintenance or inactivity fees charged by Pepperstone. All in all, we found that Pepperstone is very transparent when it comes to its fee policy.
Pepperstone Payment Methods and Minimums
When it comes to funding, depending on your location, Pepperstone supports the following payment methods:
- Visa
- Mastercard
- POLi
- Bank transfer
- BPay
- PayPal
- Neteller
- Skrill
- Union Pay
- MPESA
As noted earlier, there is no minimum deposit requirement at Pepperstone.
Pepperstone Leverage
Pepperstone claims to offer leverage limits of up to 1;400 for retail and 1:500 for professional clients. But, as a regulated broker, restrictions on leverage limits will apply.
On a broader level, this will depend on the regulatory jurisdiction that the client falls under, based on their country of residents.
For instance:
- ASIC: 1:30
- DFSA: 1:30
- SCB: 1:200
- FCA: 1:30
- CMA: 1:400
- CySEC: 1:30
- BaFIN: 1:30
First and foremost, the 1:500 limit is for professional clients only. Second, limits will also apply depending on the asset class.
For example, retail clients based in the UK, Europe, and Australia can trade major forex pairs at leverage of 1:30, and 1:20 on minors and exotics. Gold can also be traded at 1:20 in the aforementioned countries, and major indices at 1:10.
In Australia and the EU, crypto can be traded with leverage of 1:2. However, there is no crypto offered to UK residents, but only UK professional clients, as this CFD instrument, is banned.
Pepperstone Trading Platforms
Pepperstone does not have its own proprietary trading platform. Instead, Pepperstone offers traders the option of choosing from a variety of third-party providers.
This includes:
- TradingView
- MT4
- MT5
- cTrader
The above platforms are accessible via a mobile app, desktop software, and standard web browsers.
Pepperstone also supports TradingView. This means that across all supported trading platforms, Pepperstone clients have access to dozens of technical indicators, chart drawing tools, custom order types, and fully customized screens.
Pepperstone also supports a trio of social trading platforms. This includes Myfxbook, MetaTrader Signals, and DupliTrade.
Pepperstone Market Analysis
Our Pepperstone review found that the platform offers a broad range of market analysis features. This includes financial debates, market insights, videos, and economic event coverage. This ensures that Pepperstone clients have access to all the financial and trading news they need, through a single platform.
Pepperstone also hosts a range of technical trading tools. This includes Capitalise.ai, which offers access to code-free automation. Smart Trader Tools for MetaTrader and cTrader Automate are supported too.
Pepperstone Education
Those wishing to improve their trading knowledge will be pleased to know that Pepperstone offers a range of educational tools. This is to ensure that beginners have all the learning resources that they need to become better traders.
This includes beginner guides on everything from technical analysis and the forex markets to trading terminology. There are also educational webinars that can be accessed directly from the Pepperstone website during and after the audio is recorded.
Pepperstone Mobile App
As noted earlier, Pepperstone does not offer its own proprietary trading platform and thus – there is no native mobile app.
Those wishing to trade on the move can instead download the mobile app for their preferred third-party platform – which includes MT4, MT5, and cTrader.
This ensures that Pepperstone traders are never more than a click away from the financial markets.
Pepperstone Regulation and Safety
Pepperstone is a heavily regulated broker that complies with all relevant laws in the countries that it operates.
It is authorized and licensed by the following financial bodies:
- Financial Conduct Authority (FCA) in the UK
- Australian Securities and Investments Commission (ASIC) in Australia
- Dubai Financial Services Authority (DFSA) in the UAE
- CMA – Capital Markets Authority (Kenya)
- CySEC – Cyprus Securities and Exchange Commission (Cyprus)
- BAFIN – Federal Financial Supervisory Authority (Germany)
- SCB – Securities Commission of Bahamas
Ultimately, this means that Pepperstone is a trusted broker that does things by the book.
It ensures that retail clients are presented with clear warnings pertaining to the risks of trading and leverage and that all account holders go through a KYC process. The latter means that investors are required to provide Pepperstone with a copy of their government-issued ID.
Due to its strong regulatory standing, Pepperstone also complies with jurisdictional limits put on leverage.
How to Get Started With Pepperstone
In this section of our Pepperstone review, we will explain how to get started with the platform today. All in all, the setup process from start to finish usually takes less than five minutes.
Step 1: Open Pepperstone Account
The first step is to open an account with Pepperstone.
This is a standard process that will require the trader to provide some personal information, such as:
- Name
- Nationality
- Country of Residence
- Home Address
- Date of Birth
- Mobile Number
- Email Address
Pepperstone also needs to collect the trader’s national tax number.
Step 2: KYC Process
The KYC process is required for all newly registered Pepperstone account holders.
Two documents are required to complete the process:
- Proof of identity: A government-issued document, such as a passport, national ID card, or driver’s license
- Proof of address: A valid proof of address document, such as a utility bill, a bank or credit card statement
In most cases, Pepperstone is able to validate the submitted documents in a timely manner – providing that each copy is clear.
Step 3: Deposit Funds
The next step is to make a deposit into the newly created Pepperstone account.
As noted above, there is no minimum deposit requirement.
To recap, accepted payment methods include debit/credit cards, bank transfers, and e-wallets including but not limited to Paypal, Neteller, and Skrill.
Step 4: Download Preferred Trading Platform
At this stage, the trader should have a funded Pepperstone account that has been verified.
The next step for the trader is to select and download their preferred platform. Options include MT4, MT5, and cTrader. These platforms can be accessed via a standard web browser, mobile app for iOS and Android, and desktop software.
After choosing a suitable trading platform, the trader will need to log in with their Pepperstone credentials.
Step 5: Search for Market
The next step is to choose a suitable trading market. Each trading platform that is supported by Pepperstone offers a search facility. This means that the trader can search for the specific market that they wish to trade – such as GBP/USD or gold.
Step 6: Place Trading Orders
Once the preferred market has been located, the trader will need to set up an order.
- First, the trader must choose from a buy or sell order.
- A buy order dictates that the trader believes the price of the asset will rise.
- A sell order is placed when the trader believes the asset will decline in value.
Next, the trader will need to type in the amount of capital that they wish to risk on the position. After that, the trader can select their preferred leverage limit.
It is also wise to set up a stop-loss and take-profit order. This will ensure that the trade is closed automatically when the specified price point is triggered.
Finally, the trader can confirm their orders and Pepperstone will execute the position.
Pepperstone Review: Conclusion
In summary, Pepperstone stands out in many regards – not only does it offer more than 1,200 tradable markets at competitive fees, but there is no minimum deposit required to get started.
Moreover, Pepperstone supports a range of third-party platforms, such as MT4, MT5,TradingView and cTrader – each of which comes packed with advanced trading tools and features.
It is also notable that Pepperstone offers two core account types. This covers a raw spread account, alongside a commission-free offering for new traders. Finally, and perhaps most importantly, Pepperstone is heavily regulated – so trades can be executed in a safe environment.
Cryptoassets are highly volatile unregulated investment products. Always consider the risk of loss before proceeding.
Risk Warning FCA: 78.8% of retail investor accounts lose money when trading spread bets and CFDs
FAQs
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