The brokerage is owned and operated by Pepperstone Limited, a company that was created in 2016 in order to provide Forex and CFD services to UK and European customers. They are authorised by the British Financial Conduct Authority (FCA) under reference number 684312 to offer regulated products and services. The registered address is 68 Hanbury Street, London E1 5JL, United Kingdom.
It is important to note that the parent company is Pepperstone Group Limited, it was created in 2010 and is since regulated by the Australian Securities & Investment Commission (ASIC) under ACN 147 055 703.
Is Pepperstone A Scam?
How should I put this… NO! Pepperstone is not a scam! This is a company with a very long history, which has proven times and times that they are here to do business, not to put their hands in your pockets. The parent company is regulated by a major regulatory body (ASIC) and the European branch is also regulated by one of the fiercest watchdogs in the industry (FCA). They enjoy an impeccable reputation online and we couldn’t find anything to worry about.
Editor’s Note – Why Pepperstone Doesn’t Suck In 50 Words
Heavily regulated, long time in business and a good reputation are the main reasons why this brokerage doesn’t suck. I would add Meta Trader 4 to all that (personal favorite) but also Meta Trader 5, cTrader, Web Trader (no download required), Meta Trader Mobile (Android and iOS), cTrader Mobile, etc. As you can see, you have a multitude of platforms to choose from, so even the pickiest trader will be satisfied.
Why Does Pepperstone Suck In 50 Words
No Binary Options. If you are looking to trade binary options, you won’t find them on any of Pepperstone’s platforms, at least for the time being. This is a drawback for the hard-core binary fans but on the other hand, FX/CFD trading is a growing trend these days, so why not join it.
Should I Open An Account With Pepperstone?
If you are looking for a brokerage that offers Forex (FX) and Contracts For Difference (CFD), then Pepperstone might be the one for you. I know I might be sounding like a broken record but regulation and a long history in the business are paramount for a brokerage. I would never trust an unregulated company that was launched a couple of months ago – that would be like handing my money to a stranger I’ve just met on the street.
There’s a multitude of trading platforms to choose from (MT4, MT5, cTrader, Web Trader, etc.) and accounts start at 200 AUD or equivalent, no matter which platform you choose (that’s even lower than most BO brokers). They offer three types of accounts: Standard (with Zero commission but you’ll have to pay spreads on each trade), Razor ($3.5 commission and spreads from 0.0 pips) and Islamic Account (Sharia-compliant, $0 commission and STP spreads). Leverage goes up to 500:1 (just be careful how you use it if you are new to FX/CFD).
The education material is one of the most comprehensive I’ve seen lately, including tons of articles about trading and the potential traps that lay ahead, technical discussions, economic calendars and up to date market reviews.
If you are new to FX/CFD trading, this brokerage will seem a bit complex and you might not be familiar to all the terms they use. That’s simply because Forex and Contracts For Difference are more intricate trading instruments than Binary Options, so you have to be open to learning new things. That being said, Pepperstone does a great job at explaining them to you and offers a high level of transparency, not to mention a safe, regulated trading environment.
The internet vibe surrounding this brokerage is mostly positive, with the usual complaints here and there. I’ve said this many times and I’ll say it again: there’s no perfect broker for everyone. When you have thousands of clients, some of them will probably feel mistreated, either because they’ve made a mistake that they blame on the broker or because an employee actually screwed things up.
From what I’ve seen online, Pepperstone representatives answer when someone complains and try to fix the issue, which shows they actually care about their clients. So far I didn’t see any major scam complaints or horror stories.
The brokerage does not offer a bonus on deposit, which is rather normal for brokers that offer FX/CFD exclusively (no Binary Options).
Withdrawal requests received until 21:00 GMT will be processed that day. If you are familiar with the conditions of binary options brokers, you surely know that withdrawal processing takes between 5 to 7 business days (or so they say, but often it takes more), so same day processing will seem lightning fast to you. Withdrawals made by wire transfer take between 1 to 3 working days to reach you, which is again very fast.
There’s a ton of custom designed tools that can be considered extras: Alarm Manager, Correlation Matrix, Excel RTD, Market Manager, Mini Terminal, Stealth Orders, Trade Simulator and much more. The functionality of each is described on Pepperstone’s official website.
Trading Bitcoin With Pepperstone
Pepperstone allows clients to trade Bitcoin against the US Dollar (BTC/USD) with a leverage of up to 20:1. There are no commission fees and you’ll have access to institutional grade spreads and trade execution. The minimum trade size is 1 Bitcoin. Currently, they don’t offer any other cryptocurrency for trading.
User Friendliness 17/20
The website is very complex and filled with important information. If you’ve only used “classic” Binary Options brokers, it will take you a while to digest all the information, that’s why they are not rated higher in this category. The website is translated into 13 languages (that’s a lot), Demo accounts are easily and freely available, as well as mobile versions of the platforms.
Range Of Markets, Spreads And Leverage 18/20
Pepperstone offers a vast array of currency pairs, as well as 13 major global stock indexes, 6 precious metals, Oil and Gas, and 5 soft commodities (coffee, sugar, cocoa, cotton and orange juice). Bitcoin trading is also available.
Spreads are flexible and differ according to your account type: you can choose to have spreads starting from 0.0 pips but pay a commission of $3.5 per 100K traded, or you can choose not to pay a commission in exchange for a slightly higher spread (interbank spreads from 1.0 pips). The leverage goes as high as 500:1
Fees and Support 18/20
The client will have to pay the fees derived from International Telegraphic Transfers (TT) but most TTs are 15 Pounds so it’s not a very big deal. Support was very fast to answer and solved my query without any fuss.
Deposits and Withdrawals 18/20
The minimum deposit is 200 AUD and the client has a multitude of methods to choose from: major Credit Cards, e-wallets (PayPal, Union Pay, Skrill, Neteller, Qiwi Wallet, Fasa Pay, etc.) and wire transfers. Withdrawals are usually processed during the same day and wire transfer withdrawals usually take up to 3 business days to reach the client’s account.
Pepperstone Extras 18/20
Bitcoin trading is a welcomed addition and apart from this, they have a very wide choice of platforms (11 in total) and a multitude of Smart Tools, including but not limited to Autochartist, Excel RTD, Market Manager, Mini Terminal, Stealth Orders and Trade Simulator.