Why Does Pepperstone Suck In 50 Words
This is nit-picking but if you are looking to trade options, you won’t find them on any of Pepperstone’s platforms, but then again, binary options have taken a step back and FX/CFD/Crypto trading is a growing trend these days, so why not join it.
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 fussiest trader will be satisfied.
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.
Should I Open An Account With Pepperstone?
Pepperstone is a well-respected online CFD, FX, and Crypto broker owned and operated by Pepperstone Limited, a company that was created in 2015 in order to provide Forex and CFD services to the UK and European customers. They are authorized by the British Financial Conduct Authority (FCA) under reference number 684312 to offer regulated products and services.
It is important to note that the parent company is Pepperstone Group Limited, which was created in 2010 and is since regulated by the Australian Securities & Investment Commission (ASIC) under ACN 147 055 703.
If you are looking for a broker that offers Forex (FX), Contracts For Difference (CFD), and Cryptocurrencies, 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 broker. 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. Thankfully that’s not the case with Pepperstone.
There’s a multitude of trading platforms to choose from (MT4, MT5, cTrader, Web Trader, etc.), and accounts start at 200 USD or equivalent, no matter which platform you choose. 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 Swap-Free Account designed for traders that cannot receive or pay swaps ($0 commission and STP spreads). Leverage goes up to 500:1 if you are using the Australian version of the website (UK/European clients not allowed on this version of the site) and 30:1 for retail clients residing in the UK/European Union.
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 broker will seem a bit complex and you might not be familiar with 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 and offers a high level of transparency, not to mention a safe, regulated trading environment.
The registered address for Pepperstone Limited is 70 Gracechurch St, London, UNITED KINGDOM EC3V 0HR. Pepperstone Group Limited is located at Level 16, Tower One, 727, Collins Street, Melbourne, VIC Australia 3008. The broker can be contacted at +613 9020 0155 (International phone) and/or email [email protected]
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 tries 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.
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. International Telegraphic Transfer (TT) fees are paid by the client. Most TT fees range around AUD 20. There is no minimum withdrawal amount for Skrill and Neteller but there is an 80 USD minimum for bank transfers, which is actually very low compared to the industry average.
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 but please note that you will have to contact them directly in order to benefit from these tools.
Trading Bitcoin with Pepperstone
Pepperstone allows clients to trade Bitcoin, Bitcoin Cash, Dash, Ethereum, and Litecoin with a leverage of up to 5:1, which is average to high for the CFD industry. There are no commission fees and you’ll have access to institutional grade spreads and trade execution.
User Friendliness 16/20
The website is very complex and filled with important information so it will take a while to get to know the ins and outs but nothing overwhelming. The website is translated into 8 languages and the platform is available in 11 languages (that’s a lot), Demo accounts are easily and freely available, as well as mobile versions of the platforms. US traders are not accepted.
Range Of Markets, Spreads, And Leverage 18/20
Pepperstone offers a vast array of currency pairs, as well as 15 major global indices, 7 precious metals, Oil and Gas, and 5 soft commodities (coffee, sugar, cocoa, cotton, and orange juice). Bitcoin trading is also available, as well as four altcoins (ETH, LTC, BCH, DASH). The leverage for cryptocurrencies goes up to 5:1.
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 lot 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 but UK and European Union retail clients can only use leverage up to 30:1.
Fees and Support 18/20
The client will have to pay the fees derived from International Telegraphic Transfers (TT) but most TTs are around AUD 20 so it’s not a very big deal. Support was very fast to answer, knowledgeable, and solved my query without any fuss.
Deposits and Withdrawals 17/20
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, etc.), wire transfers, and even Broker to Broker (transfer funds from your existing broker account). 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. The minimum withdrawal is 80 USD for bank transfers but users can withdraw any sum (no minimum) via Skrill and Neteller.
Pepperstone Extras 17/20
Bitcoin and altcoins trading is a welcomed addition and apart from this, they have a very wide choice of platforms and a multitude of Smart Tools, including but not limited to Autochartist, Excel RTD, Market Manager, Mini Terminal, Stealth Orders, and Trade Simulator.
Pepperstone Ratings (86) + Regulated (+3) = 89/100