Pepperstone Review
[South Africa, Malaysia and etc]

Pepperstone is a forex broker founded in 2010 in Melbourne, Australia. Later, in 2015, it opened its office in the United Kingdom. It also has offices in other European countries to serve them better - United States, China, and Thailand. A trade of $12.55 billion takes place through this broker, according to a recent report of October 2019.
April 11, 2020

Pepperstone: MT4, Fees, Apps

Pepperstone is famous for its selection of third-party-platforms, offering not only MetaTrader, but also Trader platform. It also has some third-party copy trading platforms, like ZuluTrade, Tradency and Myfxbook.
Number of base currencies supported:
10
Products offered:
Forex, CFD, Crypto
Minimum Deposit:
$0

Educational Features

Pepperstone broker offers demo for virtual trading, which serves somewhat of an educational purpose along with the trading. It does not own its platform, but operates through third-party platforms. It has a desktop platform, web platform and a social trading or copy-trading platform. It uses MetaTrader 4 (MT4), MetaTrader 5(MT5) and cTrader as platforms for trading. Pepperstone shows its data through excellent charting, and there are 51 indicators available in total, according to the studies. Also, there are about 31 total drawing tools. Pepperstone's charting allows traders to trade following the trends of the charts. Its total fields for watchlists are seven. It offers an order type, e.g., Trailing Stop.

Research Features

Pepperstone's research features include its daily market commentary, Forex news from top-tier sources. Autochartist, a third-party pattern recognition tool, an economic calendar by XM - a competitor forex and CFD broker. It also provides several currency pairs. The things it lacks are weekly webinars, its well-structured news are not found on trading platforms. Also, it does not have Delkos research.

Mobile Platform Features

The mobile application platform of pepperstone is widely available on Android and Apple iOS. It trades on Forex and CFDs. Alerts about basic information regarding prices on platform are provided. It has a watch list and offers watch list syncing. The mobile app has 30 indicators for charting. The charting helps in deciphering data quickly by drawing trend lines, which are moveable. The charting has multiple time frames, but does not have an autosave function for its drawings. The mobile app does not have a Forex calendar.

Pepperstone trades in Forex and CFDs. There is a 79% chance of losing money on CFD, as there is a tough competition. Do not go for CFDs, unless you know its know-hows better. Pepperstone is one of the largest platforms in Malaysia, which does not have its proprietor platform, but owns third-party platforms, including social copy trading with an established trust.

Pepperstone has become a capitalized firm accepting investment capital from important private equity firms since its foundation in 2010. It is considered a safe broker with average-risk to trade with CFDs and Forex, as it is regulated with two tier-1 jurisdictions. There are MetaTrader with premium add-ons to enhance the default version and cTrader platforms available to algorithmic traders. The pepperstone's Razor Account and Active Trader account have competitive pricing for commission for professional and eligible clients. It is one of the largest social trading platforms for copy trading. It has received ForexBrokers.co's award for Best in Class for social copy trading. Pepperstone's markets ranged 145, compared to other multi-asset brokers, and is still limited. It provides its customers with fast and reliable customer service and has great reviews in many European countries. In the United Kingdom the broker reached 8 scores out of 23 in the national testing across the UK.

So, in conclusion, Pepperstone has good reviews from its customers based on their trust in using this broker when trading. It has a score of 79, which makes people feel safe to use it. Its commissions and fees are highly affordable, compared to other brokers. It has vast and trusted third-party platforms and quite good tools helping in your research on different data through charts and drawings. It offers mobile trading through mobile apps, which offers similar features as desktop. Its customer service is excellent and quick. It provides demos, webinars etc. for educational purposes.

Pepperstone's Safety

Pepperstone's safety can be known by its trust score of 79. It is regulated by top-tier financial authorities: two tier-1 regulators (high trust), zero tier-2 regulators (average trust) and zero tier-3 regulators (low trust). Pepperstone is safer to use, as it has an authorization of tier-1 regulators, e.g., Australian Securities & Investment Commission (ASIC) of Australia and UK's Financial Conduct Authority (FCA). So, it has two tier-1 licenses, but no tier-2 and tier-3 licences. Pepperstone does not own its bank. It does not list the trading information of its customers publicly.
Pros and Cons of Pepperstone
Pros of Pepperstone:

  • A speedy customer service
  • Offers live chat to its customers
  • Response time to queries is fast, e.g., within seconds they reach their customers
  • Reliable with their relevant answers
  • Customer Service available in many local languages: Arabic, German, Chinese etc.
  • Account opening is fast
  • User-friendly and simple
  • Good looking platforms, which are easy to use
  • It has low trading fees
  • There is no inactivity fee
  • The fee structure is transparent
  • Account opening is fully digital
  • There are three types of accounts according to traders
  • No minimum deposit for standard account
  • The deposits from bank and electronic wallets are free
  • Withdrawal from credit and debit cards is free
  • Search functions are good
  • Good customizability for charts and workspace
  • Design looks appealing to the eye
  • Good and interactive charts
  • News flow quality is good
  • Demo account to educate on how to trade on pepperstone
  • Good educational texts
  • Offers webinars
  • Registered by top authorized tier-1 financial authorities, e.g., FCA and ASIC
  • High level of protection to investors
  • Negative balance protection
Cons of Pepperstone:

  • Product portfolio is limited
  • Limited research
  • Education is limited
  • Withdrawal fee is high, approximately $20, which is rather high
  • It can take 4-5 business days for account activation
  • The log-in is not two-step, which is unsafe
  • No recommendation of analysts
  • No fundamental data of its own, as it uses Forex platform for trading
  • There are either none or limited set of analytical tools
  • There are no tutorial videos on trading platforms, which often confuses customers
  • No educational videos
  • Pepperstone not listed on stock exchange
  • The financial information is not available publicly

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