In this Pepperstone review I share my personal experiences and reveal why this is the best Forex broker. This Pepperstone review is especially for traders looking for a reliable Forex broker.
Normally I mainly discuss CFD brokers, but because I get a lot of questions from members who only trade Forex, I decided to do this Pepperstone review.
Pepperstone demo account
If you want to watch this Pepperstone review, I recommend that you create a free demo account. Costs nothing and is so easy.
What is Pepperstone?
Pepperstone is a Forex broker. That is, they focus on the currency market (Forex). They provide a trading platform for traders who want to take advantage of the rise and fall of, for example, the Euro or the Dollar. But…
Recently they also offer Index CFDs on indices, namely:
- Australian 200
- EU Stocks 50
- France 40
- Germany 30
- Italy 40
- Japan 225
- Spain 35
- UK 100
- US SPX 500
- US Tech 100
- US Wall Street 30
- Hong Kong 50
- US 2000
- China 50
Well what to say, crypto trading is hot and Pepperstone now also offers Bitcoin and a few altcoins:
- Bitcoin Cash
The crypto offer is a bit sparse, but it is always nice to have it. Cryptocurrencies often move in leaps and bounds and if you want to take advantage of that and you don’t have access to another platform, you can also trade them via Pepperstone.
Is Pepperstone Reliable?
The key question for you as a Forex trader is of course whether Pepperstone is reliable. In order to trade you have to transfer money to your broker and of course you don’t just do that.
Pepperstone was founded in 2010 by a team of trading and technology industry veterans. Originally an Australian company, they now have offices all over the world, including London. I’ll tell you later why this is important.
The founders saw a gap in the market at the time. They felt that every broker was missing something. Low spreads, but poor customer service. Good customer service, but a slow platform. Etc.
Pepperstone was founded with the idea of being the best in all areas. In other words:
The lowest spreads
The best customer service
The fastest order execution
Be an example for the entire Forex industry
Be maximally regulated
And she succeeded …
Below you will find an overview of the prizes Pepperstone has won in recent years. It is striking that especially the customer service, low costs and reliability are praised.
Regulation and licensing
Before you go into business with a broker, it is important to check whether it is properly regulated. Regulation is there to protect the trader, so the stricter the better.
One of the strictest regulators is the English FCA and luckily Pepperstone is also regulated by this.
In addition, they are also subject to Australian regulations, which are also quite strict. This is a really big plus in my Pepperstone review.
Is your money safe?
In addition to regulation, it is also important to consider how a broker handles their clients’ money. At Pepperstone, the money of traders is in a segregated account with the well-known Barclays bank.
This means that your money is always safe should something happen to Pepperstone. Furthermore they are independently audited by Ernst & Young, which also gives a lot of confidence.
As far as I’m concerned, another big plus in my Pepperstone review.
Conclusion reliability Pepperstone
If I add up all this info:
Almost 10 years at the top
Mentality to excel in all areas
Prizes almost every year
Segregated accounts for traders
Then I can rightly say that Pepperstone is reliable.
Experiences with Pepperstone’s trading software
In terms of trading platform and trading software you have 4 flavors:
- MetaTrader 4 (MT4)
- MetaTrader 5 (MT5)
- Pepperstone Webtrader
MetaTrader 4 & 5 and the Pepperstone Webtrader
This trading software is still very popular with Forex traders. Personally I don’t like it much, but if you are used to it, it is good to know that at Pepperstone you can use your old trusted software. Both the old school MetaTrader 4 and successor number 5 are available.
Just keep in mind that you have to download this software. So it runs on your own PC or laptop. If you don’t want this, you can use the Pepperstone web trader, which is secretly just MetaTrader 4, but in the cloud. 😉
This is my favorite trading software at Pepperstone. Like any other trading platform, cTrader has 2 main functions:
Charting, or chart studies by means of technical analysis
Visually cTrader is a picture. Everything looks slick and it all works smoothly. just the way I like it.
They have 4 different accounts that you can choose from as a Forex trader:
- Swap free
- Active traders
For most Forex traders, a choice will go between 1 and 2. Swap free (3) is intended for Muslims who are not allowed to receive and pay interest due to their religion. And Active Traders (4) is really meant for the big shots and institutional traders.
In my Pepperstone review I only discuss the benefits and differences between Standard and Razor accounts.
Pepperstone’s Standard STP (Straight Through Processing) account works on the basis of spreads. This means that a small price surcharge is automatically charged when you open a trade. This applies to both long and short positions.
Short explanation spread
The spread is the difference between the buy and sell price. The price to buy is then slightly higher than the price at which you can sell. The price difference is the profit for the broker.
So the bigger your position, the more you pay in spread. You pay no further commission with a Standard account.
With a Razor account you pay no (or very little) spread, but a fixed amount of commission per 100,000 traded volume. So 1 standard lot. In addition, you can also run EAs on a Razor account. These are programmed trading systems that automatically open and close trades based on entered parameters.
Which Pepperstone account should you choose?
If you are a novice trader who trades manually, then I would go for a Standard account. If you are an advanced trader or if you work with EAs, I would opt for a Razor account.