Pepperstone Review

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Pepperstone Review

Pepperstone offers a small set of tradeable products but provides forex and CFD traders with competitive pricing, excellent customer service, and one of the largest selections of third-party platforms, including numerous options for social copy trading.

Top Takeaways for 2020

After spending five months testing 30 of the best forex brokers for our 4th Annual Review, here are our top findings on Pepperstone:

  • Founded in 2020, Pepperstone is regulated in two tier-1 jurisdictions, making it a safe broker (average-risk) for forex and CFDs trading.
  • Catering to algorithmic traders and copy traders, Pepperstone offers both the MetaTrader and cTrader platform suites. Also, Pepperstone provides multiple premium platform add-ons to enhance MT4.
  • Pepperstone provides a small selection of tradeable products. That said, pricing is competitive with the commission-based Razor Accounts, which include active trader rebates for eligible traders. Our testing also found customer service to be excellent.

Overall Summary

Feature Pepperstone
Overall 4 Stars
Trust Score 83
Offering of Investments 3.5 Stars
Commissions & Fees 4 Stars
Platform & Tools 4 Stars
Research 4 Stars
Mobile Trading 3.5 Stars
Customer Service 4 Stars
Education 3.5 Stars

Is Pepperstone Safe?

Pepperstone is considered average-risk, with an overall Trust Score of 83 out of 99. Pepperstone is not publicly traded and does not operate a bank. Pepperstone is authorised by two tier-1 regulators (high trust), zero tier-2 regulators (average trust), and zero tier-3 regulators (low trust). Pepperstone is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA). Learn more about Trust Score.

Regulations Comparison

Feature Pepperstone
Year Founded 2020
Publicly Traded (Listed) No
Bank No
Tier-1 Licenses 2
Tier-2 Licenses 0
Tier-3 Licenses 0
Trust Score 83

Offering of Investments

The following table summarizes the different investment products available to Pepperstone clients.

Feature Pepperstone
Forex: Spot Trading Yes
Currency Pairs (Total Forex pairs) 59
CFDs – Total Offered 86
Social Trading / Copy-Trading Yes
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD Yes

Commissions & Fees

Pepperstone is an agency-execution broker that offers a good range of options on its pricing plans, with its commission-based Razor Account being the best choice. In 2020, Pepperstone finished Best in Class in the Commissions & Fees category, as well as for Professional Trading.

Account types: Pepperstone offers two pricing models depending on the account type you open, ranging from the commission-based Razor Account to the Standard Account, which incorporates commissions into the prevailing spreads. Fees can also vary slightly, depending on the platform you choose to trade.

Razor Account: The Razor Account can be used with either the MetaTrader (MT4) or cTrader platforms and follows a commission-based pricing structure in addition to prevailing spreads. Average spreads of 0.16 pips on the EUR/USD in the Razor Account (as of October 2020) are comparable to industry peers when factoring in the commission of 0.753 pips to calculate the all-in cost of 0.91 pips on MT4 (or 0.86 pips on cTrader).

Standard Account: The standard account is commission-free but has higher spreads instead and is not as competitive as the Razor Account, as average spreads on the EUR/USD are 1.13 pips (Q3 2020), according to Pepperstone.

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Active traders: Pepperstone’s active trader program offers discounts on the applicable commission rates – depending on the amount you deposit and your expected trading volumes – helping to boost its ranking in the active trader category. A minimum of 200 lots is required to qualify for the lowest tier, with a rebate of $1.00 per standard lot, and applies only to Razor accounts.

Order-Routing: Pepperstone uses its EDGE infrastructure to help bridge the MetaTrader platform with liquidity providers to whom it routes your order for execution while incorporating its Pepperstone Price Improvement (PPI) technology to help improve execution rates. This EDGE technology is a highly proactive approach for an agency broker.

Feature Pepperstone
Minimum Initial Deposit $200.00
Average Spread EUR/USD – Standard 1.13 (as of Q3 19)
All-in Cost EUR/USD – Active 0.86 (as of May 19)
Active Trader or VIP Discounts Yes

Platforms & Tools

While Pepperstone lacks a proprietary platform, it offers a nearly every third-party platform a trader could ever want to use. Overall, we were impressed.

Platforms: Pepperstone offers the full MetaTrader and cTrader suites, including MT4 (desktop and web), MT4 Multi-terminal, MT5, cTrader (desktop and web), and cAlgo. Traders can use either account type, Razor, or Standard, with any platform.

Copy trading: For social copy-trading, Pepperstone offers the MirrorTrader and RoboX platform from Tradency, the ZuluTrade platform, and myFxbook for MT4, in addition to the native signals markets from MT4 and cTrader. The addition of Chasing Returns and DupliTrade ($5,000 minimum required) for social-copy trading further expanded the firm’s offering. Pepperstone finished Best in Class in the Social Copy Trading category, for the third consecutive year in 2020.

cTrader vs MT4: While both cTrader and MT4 support algorithmic trading, cTrader has an advantage with its web-based platform, which offers a wider range of trading tools compared to MT4 Web. Meanwhile, the desktop version of MetaTrader contains the algorithmic trading module – compared to cTrader, which requires the standalone cAlgo platform to run in parallel, a small but noteworthy difference.

Research

Pepperstone’s broad range of third-party social copy-trading platforms and research tools helps counterbalance its limited range of in-house content.

Third-party tools: Pepperstone offers traders access to AutoChartist, a popular software provider of automated pattern recognition and trading signals. Pepperstone also offers Smart Trader Tools, an MT4 add-on with tools such as sentiment indicators, which is available to clients with an account balance of at least AUD 500.

Market analysis: When it comes to fundamental and technical analysis, Pepperstone offers content from third-party analysts. For example, the FX Weekly analysis from Boris & Kathy of BK Forex provides an “Event Risk Calendar Forecast” report. Trading Economics, a provider of market data, powers the firm’s economic calendar.

In-house commentary: While Pepperstone’s in-house research offers content such as “Daily Fix” and a “Chart of the Day” series, it lacks overall. To compete with industry leaders, including IG and Saxo Bank, Pepperstone will require more content in this area.

Mobile Trading

Mobile trading at Pepperstone is conduct with either the MetaTrader 4 (MT4) or MetaTrader 5 (MT5) mobile app, or the cTrader app, all of which are available directly from the developer. While these apps are reliable and deliver a respectable experience, our testing found that the highest-ranked brokers offer proprietary apps.

Customer Service

To score Customer Service, ForexBrokers.com partnered with customer experience research group Customerwise to conduct phone tests from locations throughout the UK. For our 2020 Review, 330 customer service tests were conducted over six weeks.

Results

  • Average Connection Time: th (22 brokers)

Final Thoughts

With barely 145 instruments available to trade, Pepperstone’s niche offering is for those traders who focus exclusively on forex and the most popular CFD markets. Overall, Pepperstone finished Best in Class across five categories in 2020, including Customer Service.

Considering Pepperstone’s low minimum deposit and an excellent range of third-party platforms, Pepperstone caters to all forex and CFDs traders, regardless of experience level.

About Pepperstone

Founded in 2020 in Melbourne, Pepperstone is regulated in Australia and the UK and has offices in the United States (US), United Kingdom (UK), China, and Thailand. The broker processes, on average, $12.55 billion of trades each day (October 2020).

Pepperstone is best known for its extensive selection of third-party trading platforms. Pepperstone offers not only the full MetaTrader suite but also cTrader and a complete variety of copy-trading platforms. Read more on Wikipedia about Pepperstone.

Pepperstone Trading Features

Feature Pepperstone
Virtual Trading (Demo) Yes
Proprietary Platform No
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) Yes
cTrader Yes
Charting – Indicators / Studies (Total) 51
Charting – Drawing Tools (Total) 31
Charting – Trade From Chart Yes
Watchlists – Total Fields 7
Order Type – Trailing Stop Yes

Pepperstone Research Features

Feature Pepperstone
Daily Market Commentary Yes
Forex News (Top-Tier Sources) Yes
Weekly Webinars No
AutoChartist Yes
Trading Central (Recognia) No
Delkos Research No
Social Sentiment – Currency Pairs Yes
Economic Calendar Yes

Pepperstone Mobile App Features

Feature Pepperstone
Android App Yes
Apple iOS App Yes
Trading – Forex Yes
Trading – CFDs Yes
Alerts – Basic Fields Yes
Watch List Yes
Watch List Syncing Yes
Charting – Indicators / Studies 30
Charting – Draw Trend Lines Yes
Charting – Trend Lines Moveable Yes
Charting – Multiple Time Frames Yes
Charting – Drawings Autosave No
Forex Calendar No

2020 Review Methodology

For our 2020 Forex Broker Review we assessed, rated, and ranked 30 international forex brokers over a five month time period. Each broker was graded on 105 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

“There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.” Learn more.

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We appreciate your feedback on how to improve Yahoo Search. This forum is for you to make product suggestions and provide thoughtful feedback. We’re always trying to improve our products and we can use the most popular feedback to make a positive change!

If you need assistance of any kind, please find self-paced help on our help site. This forum is not monitored for any support-related issues.

The Yahoo product feedback forum now requires a valid Yahoo ID and password to participate.

You are now required to sign-in using your Yahoo email account in order to provide us with feedback and to submit votes and comments to existing ideas. If you do not have a Yahoo ID or the password to your Yahoo ID, please sign-up for a new account.

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Web surfers signed into yahoo, add like to search results

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someone is listing viagra on my web site mwe3.com can you ask them to take it down! It is a music reviews site and not a viagra website!!

someone is listing viagra on my web site mwe3.com can you ask them to take it down! It is a music reviews site and not a viagra website!!

What a stuffed search engine. How about results of the actual item we are looking for.

Results that are actually relevant to a search would make life more enjoyable. Not interested in all the totally unrelated **** you allow to appear as “results”.

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