Pepperstone is an Australian-based Forex broker that was established in 2010. Throughout the years, it has immensely grown, now with a current client base of 57,000+ and a $ 112.55 billion daily transaction. It is easy and fast to open an account virtually on their website, making it a reliable broker. Users are also provided with amazing educational material for guidance. It is authorized and regulated by the Australian Securities and Investment Commission (ASIC); hence it is safe and secure to use.
If you are new to Forex trading, you need to consider using a reliable Forex broker like Pepperstone. This post is a complete Pepperstone review and a guide to help you when choosing a Forex broker.
|Minimum withdrawal||$0; but $200 recommeded|
|Payment methods||PayPal, Skrill, Neteller, bank wires, Union pay, Bpay, credit and debit cards
|Swap fees||Yes, except on Islamic accounts|
|Account types|| Standard account
|Transaction cost||Zero deposit and withdraw fees|
|Security & Regulation||ASIC and FCA|
You don’t want to settle for brokers with a high amount of minimum deposit since sometimes it can be hard to raise such amounts.
Pepperstone has a minimum deposit of $0 for all accounts; hence you can use any amount as your deposit. Pepperstone, however, recommends a $200 minimum deposit for live trading.
Leverage is an essential tool to improve your trading gains. You consequently need to use a broker that offers you good leverage deals.
Pepperstone offers maximum leverage of 1:500 for the Australia branch and 1:30 for the United Kingdom branch.
Aim for Forex brokers offering several types of accounts with different trading approaches to increase your profits.
Pepperstone offers four types of accounts: a standard account and swap-free accounts for beginners, razor and MAM/PAMM accounts for experienced traders. All these accounts have similar fundamental basics and differ only on the fee structure and commissions. Standard accounts are commission-free with more prominent spreads, while the razor accounts have narrower spreads with a commission fee. These accounts are recommended for different people as follows:
- Standard account– This is ideal for beginners as it has wider spreads (from 1.0 pips).
- A swap-Free account- Designated for Islamic traders who cannot pay or receive interest-based on swap-rates.
- MAM/PAMM account-This is for fund managers managing multiple accounts.
- Razor account– For algorithmic traders as it has very tight spreads from 0.0 pips.
Withdrawal and deposits
It would be best if you went for a broker that offers easy and accessible withdrawal and deposit modes with no or little fees.
Pepperstone uses PayPal, Skrill, Neteller, bank wires, Union pay, Bpay, credit and debit cards. All have instant deposits, with bank wires being an exemption as it takes up to five business days. All the modes of withdrawal except bank wire are fee-less, but users must consult with their payment processors to know if there are any hidden fees.
When it comes to investing, security is crucial as you want to ensure your funds are protected and safe. When looking for a Forex broker, you need to consider those that are licensed, authorized and regulated by recognized Forex authorities and agencies.
Pepperstone is very secure as it is authorized and regulated by both the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA).
Bonus & promotions
Pepperstone offers referral bonuses that are deposited to respective Forex accounts for both the referee and the new users. Due to regulation restrictions, there is no deposit or new member bonuses from this broker. Still, it rewards its customers with trading bonuses in the form of an active trader program, allowing them to earn rebates that are paid daily.
This is the most important and critical part of Forex trading as it determines the price you sell or buy a particular currency. It would be best you went for a broker that offers fast-speed execution, as with delays, it’s hard to win a trade.
Pepperstone offers fast-speed execution, ensuring you don’t lose any trade.
For better trading and high profits, you need to choose a broker that provides easy-to-use platforms.
The Pepperstone trading platforms are MT4, MT5 and cTrader and are available as a web trader, a mobile application and a desktop client, thus flexible for you. The platforms are user-friendly and easy to navigate with messaging tools for additional assistance.
When settling for a Forex broker, go for one with favourable fees in addition to quality services.
Pepperstone has minimal costs making it conducive for traders to develop their portfolios. Fees are derived from the low commissions and tight spreads. In the case of Razor accounts, the average spreads are 1.3 pips for a EUR/USD currency pair and a $7 commission. For a standard account, the spreads is 1.13 pips for the same currency pair with no commission.
Good customer services are basic for any business; thus, you should go for a Forex broker that is good at this.
Pepperstone offers top-notch customer services with a support system that ensures all customers get helped. The customer support is available 24 hours, five days a week and you can reach this brokerage company through email, phone call, or live chat at all times. A FAQ section is also provided with answers to all basic questions.
From this review, you can clearly see that Pepperstone is one of the best Forex brokers for online financial trading. Pepperstone has invested in quality customer services and client schemes to see that the users get the most out of Forex trading. It has a unique trading approach that keeps it ahead in the game with no minimum deposit requirements and decent trading bonuses. If you want to be the best in Forex trading, Pepperstone is a Forex broker you can rely on.