Pepperstone Broker Review And User Verdict (New 2023)
The many Pepperstone reviews you can read online show that this is actually one of the better platforms you can find for trading. Our Pepperstone review found that it is one of the leading Australian FX and CFDs brokers that allows for a great crypto trading experience with leverage of up to 20:1 across its trading platforms. In our Pepperstone broker review today, we find out a little bit more.
Today, we are going to find out more about this platform in our Pepperstone forex broker review.
Forex Brokew Overview
Pepperstone was founded in Australia back in 2010 and in a few years, they opened up a new office in London in order to provide services for European clients.
The platform is considered safe since it is regulated by the UK FCA financial authority. One of the few goals of the company is to make forex trading accessible for all retail traders and this is why we found out in other Pepperstone reviews, that it offers many trading instruments and more than 70 currency pairs to choose from.
Also, when it comes to forex trading, you can find pairs with spreads that start at 0 pips while there’s also a focus on high-quality execution and a reliable trading environment.
The Pepperstone broker review shows that the customer service here is amazing. The team is fast and accurate providing answers relevant to the issues users have. Also, opening an account is quite simple but their support team is always up to the task to help you if you have any trouble.
What’s also great is that there is no minimum deposit as well but we will get into it some more below in the Pepperstone review.
In addition to all forex trading pairs, users can trade CFDs as well such as indices, cryptocurrencies, commodities, and more. Users can also find 14 major global stock indices and look up trading strategies with the help of a broker. The clients are free to choose from the different accounts on Pepperstone that can be accessed from Mac, Windows, and other devices.
But, when it comes to the actual trading, there are 11 platforms that offer smooth functionalities and access to markets of your choice such as the crypto market, as we are about to read more about in this Pepperstone broker review.
Pepperstone’s Fees And Structures
Forex fees at Pepeprstone according to the Pepperstoen reviews, show that there are low fees compared to other brokers. For example, the FX commission per lot is $3.50 per trade while the fee on the EURUSD spread is 0.8.
The AUD/USD spreads have a few of 0.2 and the GBP spreads at 0.4. This shows that the fees for forex pairs are higher compared to other brokers, especially since the EURCHF fee is 0.7 which is way too high compared to its competitors.
The fees are charged via spreads and commissions while the commission varies depending on the trading platform used. The Pepperstone forex broker reviews show that the commission for opening positions of $100,000 is $7.
The Pepperstone broker review shows that the fees for CFDs are low and similar to the other competitors. The fees are low to the offerings of the rivals in the CFD space and the equity index CFD fees are also built in the spreads with leverage of 2:1 for crypto.
The nontrading fees are low as well with the withdrawal being free for credit/debit cards except for Neteller and Skrill. Users from Australia can benefit from free withdrawals but other countries’ users will be charged $20 per transfer.
Pepperstone offers two types of accounts: Razor and Standard accounts.
There’s some great pricing on the Razor account combined with their ACtive Trader program while the Standard account is not so impressive but there are some higher spreads.
The Razor account can be used on the Metatrader 4 and Metatrader 5 platforms as well as the cTrader platforms while following a commission-type pricing structure. Pepperstone has an average spread of 0.17 pips for the EUR/USD on the Razor account but the all-in cost can reach 0.87 pips which is higher than the average in the industry.
The Standard account is commission free basically as it offered an average spread of 0.77 pups on EUR/USD pairs. The standard account is often a more affordable option.
The Active trader program also rebates a portion of the spreads depending on the trading volume per month.
Traders from the EU and the UK can trade up to $10 million per month and can get a tier-one rebate of 5% per lot. The Tier Four rebates can be negotiated for the ones that do more than 500 lots per month.
For clients in Australia, a minimum of 100 lots is required to qualify for the low tier in the Active Trader Program. The first level provides a discount of 5% per standard lot that reduces the spread effectively while the third tier is available for those that trade more than 200 lots of money with a 15% spread.
The spreads are charged in a currency that you will be trading and they are always charged in the same type of currency that you use in your account. The commissions are charged on the Standard lots traded so if you trade 0.1 per lot, the commission will be 10%.
The increase in leverage can give you the ability to enter the larger trading zones but if you do decide to decrease your leverage, there will be a decrease in the ability to open bigger positions because the margin cost will be higher. The key is however to reduce risk and consider portion sizing.
Most users when starting out choose the Standard account as it is much simpler to use and all fees are included in the spread.
Pepperstone has a huge array of webinars, videos, and various materials for learning more about trading, but it is still lightweight compared to other education leaders.
Pepperstone has guides and more than 40 articles that you can read more about and learn but the negative part is that they are not organized by experience level. There are tutorials as well as webinars that take place quite often.
There is however room for improvement as their educational content is not exactly high quality. Maybe adding more courses that will be more interactive and even quizzes to check knowledge, will be a huge step in improving the services.
Is my money safe with Pepperstone?
Pepperstone is a trusted broker. It has been operating for a few years now and has a regulatory status in Tier 1 jurisdictions like the EU, UK, and Australia. These licenses make the broker a safe place to hold your money but also It offers other reliable services.
Choosing a well-reputated broker is game-changing and reduces your risks when trading.
Is Pepeprstone regulated?
This broker is regulated by 7 national authorities like the FCA in the UK. However, the company is not listed on any exchange and doesn’t share financial information.
How Many Trading platforms can be located at Pepperstone?
Pepperstone offers to trade on Metatrader4, Metatrader 5, Tradingview and cTrader
BlackBull Markets broker review and analysis show the global forex broker was founded in 2014. The company is reportedly regulated by the Financial Markets Authority of New Zealand and the Financial Services Authority Of Seychelles but the sparse research materials left the BlackBull markets reviews struggling to compete with other forex brokers.
- Low Fees
- Credit/Debit card option
- No Banking license
- No 24/7 Support
- No 2-step Verification Process
Small Number Of Regulatory Licenses
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