What’S going on traders welcome back to bangkok in thailand today i’m going to go back on a series. I began a long time ago about brokers. I decided to do reviews of different brokers in the past and i want to share with you the rookers i use. Why use them and kind of how they compare a little bit as well? I did a few reviews.
I didn’t do a lot of them and today i think it’s time to go back and do more reviews of brokers. Let’S talk about pepper stone, so i’ve explained the purpose of this series on brokers, to be able to kind of look at different brokers or how to do things. What you have different and help you make a better choice about the broker you use in trading. I want you to be able to pick the right one for you, because brokers will vary quite a bit sometimes, and there’s no right or perfect broker. There’S a broker for your trading style, not one that fits everyone.
Of course. So peppersone is a broker. I’Ve not been using for very long about maybe three to six months now on a partial basis, not fully only this broker and the reason is they were not available for canada before so i could use them and sign up with them. Only when i had an address in thailand because they are except people from thailand, of course, but they have some restrictions about canada for sure and some other countries the us. So not anyone can trade with them before we go into the review.
If you want to see more videos of brokers – and these reviews like this or just videos about trading in general, subscribe to the channel, i promise you, i guess every single day to keep you inspired. Keep you motivated if you’re learning the right things to help you build the right skills, so you can become a full-time trader and get more freedom in life. There’S no one to stop make sure you subscribe and click the bell as well to be notified of future videos. Let’S talk about the platform, something that i find quite boring between some brokers these days, because they all have the same platforms, so pepperstone uses mt4, mt5 and ctrader. Now i believe these have their own platform, which you use back.
They don’t have their own platform. Now these are the only platform you can use trade with them. Now it’s a pretty good choice. Md4 is good for user fd4. Nt5 is more modern, of course, a little bit better.
Some people complain they don’t like it, which is fair, but it’s definitely a good platform and ctrader is something that i didn’t really use much in the past, but some people love it and some people hate it too. So you have pretty much everything you have like. All possibilities there, which is pretty good. I simply hope myself they’re hoping to integrate with training view not done yet but i’ll see if i’ll be pretty happy, but it would be really cool if pepperstone implements with trading views. You can play straight on training view.
I think that would be awesome at the moment. The only broker i use doing that is rwanda, but it would be really cool to see other brokers, doing it, of course now. The second thing i want to talk about is leverage and money management. Now these rules will affect, and in recent years there’s been a lot of brokers, doing different things and having to reduce the leverage based on which client they accept the most is gon na be like 50 to one for the us same for australia, canada can vary Now, with pepper stone, because i’m in thailand, i was able to get up to one to 500 leverage which is really high, and i won’t recommend using that ever, but i was able to get it anyway, so it’s gon na vary based on when you are, of Course, and there’s some rules behind that: it’s not the broker’s thing they want to put leverage is because there’s a regulations uh preventing them from using x leverage, so they have limits there. Probably, if you’re gon na be in australia, you can use 150 and in other countries, and you have a pretty big option.
So that’s pretty good pretty much in the top you can get. But again it depends on the region that you are located in and trading from now in terms of withdrawals and deficits. I found that deficits here were really simple: they have a ton of options in thailand. Again this will vary based on where you’re all located. You can even connect your bank, you can go online and transfer right away.
It’S going to be an instant transfer which is really cool. They have some options too, with paypal, they have some options with normal bank transfer credit card debit cards that works. Fine. It’S very easy to fund your account when it comes to withdrawing money, though i found i’m not sure, if that’s the only one who does that, but they have a 20 fee when you would draw to a bank account, that’s not a variable fee based on how Much capital you would draw that space on a fixed fee. If you would draw a thousand dollars, maybe twenty dollars would draw.
Ten thousand give me twenty dollar anyway, so they have this fixed fee. When you withdraw from a bank account and again, it has to be, of course, in the name in your name. If you provide proof of that bank account or it has to be the same account where you put money in your trading account from so you couldn’t like, let’s say, simulate someone else, you can only use a bank account with your own name. Uh same thing goes with paypal. If you have a paypal account and you put money in your account, you’re gon na have to withdraw it from the same paypal account if you choose paypal.
This is just regular rules from brokers and they use this to prevent fraud. Of course you just have to be aware of it and once you’re aware, then things usually go pretty fun after that, but be aware, there is a fee to withdraw from a bank account a international transfer, i believe, from a decent website. If you are in australia, there will be no fee for withdrawing your bank account. But if you are abroad like in thailand or anyplace else, you have to pay 20 fee for every withdrawal you make now it’s not a big deal. It can be something that adds up pretty fast if you do frequent withdrawals, of course, that fee doesn’t apply to paypal or, i believe, other debit cards now in terms of spreads and commissions.
This is pretty much the reason why i open an account for peppers in the first place, because they have a much lower spread than other brokers, i’m using especially owenda i’ll put here on the screen, the difference between awenda spread and pepperstone sprints. You will see owenda a broker that doesn’t have a very low spread, usually it’s pretty normal to high spread on in general, and they have a spread of 1.3 pips on your usb at the moment. Now they have a live spread that they show on the website and pepperstone doesn’t show lives, but they show average spread on the website, so that can be a big difference, but so this is 1.3 pips on rwanda.
I’Ve seen go to sometimes 1.8 1.9 as well. Compared to pepper, stone, which you have a 1
16 on a regular account, and if you want to choose a commission based account, so they call it. The razer account where you pay commission for av trade uh more than that.
If you want to put an account with that, they have a special offer which i’ll explain you a little bit later. You pay commission, you have this much lower spread 0.16 pip, which is much better. Of course. That is a good thing now compared to uh.
They make their account much more easily accessible on pepperstone the razer account, so anyone can open a razer account if you go on owenda, it’s pretty much hidden. No one knows about it. Much you got ta be able to put in a lot of money to be able to open that commission based account where you pay a smaller spread, something to think about here, something that makes a pretty big difference there. If you want to open an account with some of these brokers, so what paper zone here has that is special is that they have a much lower spread than other brokers, not like crazy low compared to other brokers but fairly decent and the good thing. The much better thing, of course, is that their execution is a lot faster.
They claim to have faster than 30 millisecond execution, which is pretty fast. I’Ve also heard from other big traders that i talked to that they, like pepper, stone for at faster execution, went to a really really big amount if you trade it professionally or with really large capital. If you are funded, it makes a difference on how you get executed, of course, so that can be a big thing, especially if it’s cop or you try to go down frames. So, let’s see, if you open the company regulated broker that you can trust. That’S gon na have a lot of regulations around so that your money stays safe.
I think this would be a good option because they have a really fast execution as well, and if you care about the lost brand, that could be a really good thing as well. The last thing i want to cover here in this review is the customer service and the member interface on the website. A few things you have to note so the customer service they have a chat which is really cool. You can chat with them anytime, 24 hours. A day five days a week – and that is a good thing – i’ve had a mixed feeling with the people i talked to on the customer service before there seems to be some some good things or some bad things.
Sometimes things get solved really fast. Sometimes it takes more time. I had a pretty tough time playing my account. They had some bug on the website which could be caused by my browser or by them. I’M not exactly sure how that worked out, but i’ve had some issues there, which i was able to solve with the customer service.
That was a good thing, but in general, their online platform is also pretty good easier than when that to use and open your account. In my opinion, again that could depend on what you prefer and what kind of design you like most. But for me that was pretty easy to use. They don’t have any issues there. I feel the only issue i have which i want to mention here, because i want to be transparent.
The fact that i opened first a democrat with them and then they ended up causing the democrat after 30 days. I think because, usually the more can’t only last for 30 days, these supports were able to re-put it back in place for me, because i was doing some testing on the side of my live account. Of course, so they put it back up, but the account wouldn’t appear anywhere on my platform. So if i want to like put it in your platform, i don’t have the number or have anything of the sort. I cannot see the stats that account, which is kind of not that good, because you don’t have access to the account, but it can’t still work so, which is kind of really strange.
They cannot put it back online, but it still works in the background which is kind of weird, so i can face trades when you account for my testing, but i cannot see the result on the person’s website or anything on the sort. So a small issue there. I feel it’s not a big thing, it’s something that is easily solvable, but you got to be aware that they might have some issues it’s going to take the customer support. If you have any issues with them, definitely have to have the customer service, and especially the chat on the website. If you want to sign up with pepperstone they’ve, put together a special offer for you guys watching my channel here on youtube, you’ll be able to open the comment down using the link below in the description and get a free, five-part interview course of trading.
It covers different things like strategy, psychologies and a bunch of the topics as well. If it’s available in your country, you’ll also get a reduced commission with that link below. So you can get a videos commission for your trade, so you don’t have to pay the whole commission or get the full spread on your account. You can reduce that by quite a bit and of course, you’ll be getting at fast execution of faster than 30 meters. Second, for your trades, which is pretty cool, so link below check it out.
If you have any questions about the platform about peppers in general, anything i didn’t cover here in the review. Let me know in the comment below i want to hear your thoughts. Of course, here are a few comments from you. I appreciate you asking comments as i was in the comments section and we’ll catch you back here in bangkok or somewhere else. Tomorrow, ciao, you
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