Recommended for: Forex trading 4.6/5
Highly Trusted broker: Regulated by top-tier financial authorities
Pepperstone stands as a reputable forex and CFD broker, ensuring regulatory compliance through the UK Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC). Opening an account with Pepperstone is a seamless and efficient process, characterized by its speed and fully digital nature. The broker’s customer service team demonstrates their commitment to providing prompt and relevant answers to inquiries. Additionally, Pepperstone offers user-friendly deposit and withdrawal procedures, often without charging any fees. However, it is important to note that the broker primarily focuses on CFD trading, and the MetaTrader platform may lack advanced features. BrokerRated, after meticulously analyzing and conducting live account tests, awarded Pepperstone an impressive rating of 4.6 out of 5.
Is Pepperstone a legit broker?
See how Pepperstone is regulated and whether you should have any concerns using it.
Pepperstone pros and cons
Pro
- Fast and fully digital account opening
- Great customer service
Cons
- Mostly CFDs offered
- MetaTrader platform is basic
Fees
Pepperstone has low forex and non-trading fees, including no inactivity or account fees. However, CFD financing rates are high for a few assets.
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.
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.
Web trading platform
Pepperstone’s web trading platform is provided by MetaTrader. It 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 On the other hand, it lacks a two-step login and price alerts, and its design is outdated.
Mobile trading platform
Pepperstone has a great mobile trading platform offered by MetaTrader 4. It is well-designed and user-friendly. However, it lacks a safe login.
Desktop trading platform
In design and functionality, Pepperstone’s MetaTrader 4 desktop platform is almost the same as the web trading platform. One major difference is that you can set price alerts on the desktop trading platform.
Markets and products
At Pepperstone you can only trade forex and a range of CFDs (commodity, stock index, ETF, share, and crypto CFDs). This means that many popular asset classes such as real stocks and ETFs are missing.
Research
You can find trading ideas based on technical tools and read market reports written by Pepperstone’s research team.
Customer service
Pepperstone’s customer service is great. You can reach them on several channels and will get quick and relevant answers.
Education
Pepperstone has great educational materials. You can use demo accounts, participate in webinars and watch educational videos.
Safety
Pepperstone is regulated by 7 national authorities including top-tier regulators such as the FCA in the UK. At the same time, the company is not listed on any exchange, does not disclose financial information and does not have a bank parent.
