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Online trading is an excellent way to make potential profit in 2022. However, choosing a platform to use can be tricky considering the large number of options available. To make things a little easier, we have written this Pepperstone Review Australia that will reveal everything you need to know about that platform so that you can decide if its the right choice for you.

Keep reading to find out why Pepperstone is a popular choice in 2022.

Pepperstone Review Australia- Overview

Key Takeaways

  • Pepperstone trading is one of the largest and most trusted brokers in Australia and globally.
  • The company holds seven licenses, including licenses from three top-tier licensors. Australia Securities and Investment Commission, ASIC, licenses their operations in Astralia, FCA licenses their operations in the United Kingdom, and BaFIN licenses their operations in Germany.
  • Pepperstone works well as a beginner trading platform and platform for experienced traders.
  • Pepperstone offers trading through MT4, MT5 and cTrader platforms.
  • Trading can be done on mobile through Android and iOS applications and the webtrader for web.
  • Pepperstone trading offers 62 currency pairs including forex, indices, ETFs, commodities, and crypto CFDs.
  • The broker charges minimal trading fee and free withdrawal fee.
  • Pepperstone is a No Dealing Desk, NDD platform, and offers deep liquidity and low spread pricing that is excellent for spread betting strategies.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.18% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Pepperstone Review Australia Score

Security: 9/10

Liquidity: 10/10

Customer Support: 10/10

Number of base currencies: 9/10

Withdrawal Fee: None: 10/10

Commission: Minimal: 9/10

Ease of Use: 9/10

Pepperstone Review Australia: 9.4

What is Pepperstone?

Pepperstone is an Australian brokerage founded in 2010. The company processes $9.2 billion in trades a day and presently has more than 300,000 active traders. Pepperstone broker is one of the biggest foreign exchange brokers in the world and is overseen by the Pepperstone Group Limited in Australia and Pepperstone Limited—a subsidiary, in the United Kingdom and countries in the EEA. Originally created to provide interbank execution and low spread pricing, Pepperstone has increased its capacity to provide coverage for retain and institutional investors through its multiple direct destination of liquidity and low-cost pricing scheme. Today, Pepperstone trading platform is an execution-only broker.

Pepperstone trading platform is a No Dealing Desk, NDD, broker—that is, it allows users access to the interbank exchange rates, giving customers competitive currency prices.

Pepperstone

Pepperstone offers 62 currency pairs, and supports API trading, allowing traders with their customized trading system to access Pepperstone’s liquidity feed on their own systems.

Pepperstone webtrader also offers CFD trading guides from trading experts and give access to industry leading analytical tools, trading views, and resources for both beginner and expert traders.

Pepperstone is available to traders via WebTrader, Windows, and macOS for desktop, web apps, and applications for Android and iOS. The broker also offers top-quality technology that improves trading fees and industry-leading technology for charts and market analysis.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.18% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Why Is Pepperstone A Popular Platform in Australia?

With an average of $9.2 billion daily trades and over 300,000 traders globally, Pepperstone has sealed itself as one of the best forex broker. For over a decade, the company has followed through with a vision to promote ethical trading, faster trade executions aided by advanced technology, minimal trading fees, and excellent customer support. Pepperstone positioned itself to correct some of the frustrations traders in Australia faced and encouraged people to invest more in foreign exchange.

When a company grows to unimaginable heights globally, it’s only normal for Australians to adopt the broker—as is the case of Pepperstone. Pepperstone’s popularity and brand soared after its then CEO, Owen Kern, helped law enforcement nab participants in a $7 million trading scandal between Lukas Kamay, former director of the National Australian Bank, and his accomplice, Christopher Hill, an ABS—Australia Bureau of Statistics, employee.

Since the company’s inception, Pepperstone broker au set itself as a modest broker with the technology to make trade faster—all within a safe environment for all traders.

Is Pepperstone A Legit Broker?

Pepperstone trader is a reliable and legit Australian broker and holds the ASIC – Australia Securities and Investments Commission, brokerage allowance. Other than the ASIC, Pepperstone is also licensed by the Australian Financial Service for low-risk Forex services.

Pepperstone broker au holds all necessary licenses to operate in Australia and every other region it brokers, including the United Kingdom and EEA countries. Pepperstone Limited, a subsidiary of Pepperstone’s mother company, is a UK-registered broker regulated by the FCA – Financial Conduct Authority. Licenses Pepperstone holds include ASIC, DFSA, SCB, FCA, CMA, CySEC, and BaFIN. The CySEC license obtained by Pepperstone covers all traders within the EU, and BaFIN license covers traders in the German market. The DFA license protects traders in Dubai and MENA region, and the CMA license covers traders in the Kenyan and other countries in the African region.

Before using a brokerage, you must consider the brokerage’s liquidity, security, and consumer protection. Pepperstone ASIC and FCA licensing means it has followed strict finance requirements, including minimum capital requirement that cover total users, separation of company’s capital and assets from traders’ assets, automated risk management system, negative balance protection, accounting, audit, and extensive training requirements that ensures that clients’ funds are secure.

For leverage, Pepperstone trading platform offers a leverage of 1:500 for their pro clients. The ESMA regulation has recently lowered leverage to 1:30 on Forex instruments; however, traders still have to be careful when executing high leverages and deciding trading sizes.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.18% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

What Are The Pros and Cons of Pepperstone?

Pros:

  • Excellent for both active and copy traders.
  • 24/5 customer support
  • Competitive commissions and fees
  • Deep liquidity and competitive quotes
  • User-friendly trading ecosystem
  • Mobile application for iOS and Android available
  • Free report and market analysis
  • Demo account available
  • Supports 9 languages
  • Cash rebate on Forex trading 

Cons:

  • Offers mostly CFDs
  • Meta trader platform is basic

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.18% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Pepperstone Broker Review- Key Features

Pepperstone Demo Account

Pepperstone trading platform demo account helps you execute risk-free trading strategies in a complete market setting—that is, you get the full features of the live account without spending a dime or risk losing your money. While the Demo account is great, there are limitations to how long you can use them. With the demo, you can access all three trading platforms, the MT4—Metatrader4, MT5—Metatrader5, and cTrader.

Opening a demo account is straightforward:

Pepperstone Demo Account Page

Sign up for a demo account: provide your full name, phone number, email address, and password.

Download any of the three platforms: Download MT4, MT5, and cTrader, or use your pepperstone webtrader app for web browser access.

Start practicing: With up to $50,000 demo funding, you can start trading within real market pricing and conditions for the next thirty days.

MT4 and MT5 Demo accounts expire after 30 days, except you have a funded live account and request to turn the setting to non-expiry. cTrader demo accounts do not expire, and you can practice on the platform as long as you want; however, you must log into the account once every thirty days.

Platform Fees

Pepperstone trader offers two types of accounts; the EDGE Razor and EDGE standard accounts. Each account is connected to the largest liquidity providers to ensure a consistent liquidity pool for order fulfilment. Razor account holders pay a commission on each FX trade. For cTraders, you pay a commission of 7 units of the base currency per the traded FX lot. MT4 AND MT5 commissions are calculated as a percentage of the traded lot and your currency. The percentage for MT4 and MT5 depends on your lot. You can check out MT4/5 commission calculations here.

Peppersstone Page

Users of the Pepperstone webtrader standard account do not pay commission for trade; however, the account has a 1 pip markup on raw spread. cTrader commissions are $6 round-trip; you will be charged $3 to open a position or contract and $3 to close the position/contract.

For users with non-USD currency, the system automatically converts USD to the users’ currency and removes the commission. TradingView commissions are also charged as $6 round-trip; that is, $3 to open the contract and another $3 to close it on a 100,000 EUR/USD trade.

TradingView commissions are charged as $6 round-trip. For example, if you’re trading 100,000 EUR/USD, the commission charge will be USD $3 to open the contract and USD $3 to close out the contract. If your trading account is not in USD, we will convert the cost based on current foreign exchange conversion rates into your nominated account currency. Trading fee is a very important consideration when choosing CFD trading platforms.

Minimum Deposit

There is no minimum deposit for Pepperstone accounts; however, the platform suggests a minimum deposit of 200 Australian dollars.

Regulation and Security

Pepperstone trader has license to operate in Australia, the United Kingdom, EEA countries, Germany, and Africa. Licenses held by Pepperstone trading platform include Australian Securities and Investment Commission, ASIC, Dubai Financial Services Authority, CySEC, bAfin, CMA, SCB, and FCA.

Pepperstone Customer Support

Pepperstone has a strong customer support system that operates twenty four hours, Monday to Friday. Their support can be contacted through 24/5 live chat. You can also speak to a customer support agent through their email, [email protected]

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.18% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Is Pepperstone a Good Broker For Beginners?

MT4 offers excellent mobile application for user who would prefer to trade on-the-go, and the web application is extensive enough for new traders to learn and invest. Pepperstone prides itself on its transaction speed and tries to simplify its user interface. One of the ways they achieve their aim to help traders win is the DEMO account. Pepperstone webtrader has a DEMO account that simulates live market conditions, and can be accessed for thirty days, depending on the trading platform. Pepperstone also supports copy trading.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.18% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

How long does it take to withdraw funds from Pepperstone?

Funds withdrawals sent before 21:00 GMT will be processed by Pepperstone the next day; however, if you send a withdrawal form before 07:00 AEST, the form will be received and processed the same day. If withdrawals are unnecessarily delayed, confirm if the bank account you withdraw into has the same name as your Pepperstone account. You can only withdraw funds into an account with the same name or a joint account because Pepperstone is limited by third-party transfer regulations.

To withdraw your funds:

  1. log into your secure client dashboard
  2. Click on the Funds tab.
  3. Click on Withdraw Funds

A tab will show all withdrawal options, and you can choose what suits you. After initiating a withdrawal, you will receive an email immediately or within the hour to confirm your withdrawal. The email will contain a link you can click to accept the withdrawal. If you activated 2 Factor authentication on your account, generate the 2FA code from your mobile device and enter the code in step 3.

To check the status of your withdrawal, visit the Funds tab, select History and click on Withdrawals. The status of all your withdrawals and an explanation of what each status means will appear.

To cancel a withdrawal, go to your secure client dashboard or area, history, and then click the withdrawal and cancel. Pepperstone cancels unconfirmed withdrawals after an hour; however, if you have confirmed the withdrawal, get in touch with customer support, and they will cancel it from their own end. You can reach customer support via live chat.

Please note that there are no charges on withdrawals, irrespective of the withdrawal volume. Withdrawal cancelation requests may be unfulfilled if it’s in the Processing stage because the funds may have already been sent; however, as long as it is in the Pending stage, you can still cancel.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.18% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Is Pepperstone Regulated In Australia?

Yes, Pepperstone is regulated in Australia and licensed by the Australian Securities and Investment Commission.

How To Use Pepperstone

Pepperstone allows people to either register for their demo account or the live account. With the demo account, you can practice trading strategies in a risk-free environment. However, if you already have trading experience, you can open a live account.

Register

Pepperstone Signup page

You can decide to register for a demo account or a live account. To create a demo account, you need to complete the application form for the demo account and provide your name, email address, phone number, email address, and password. Pepperstone broker au has three platforms, MetaTrader 4, MetaTrader 5, cTrader. You can also use the webtrader app through your web browser.

With your newly equipped $50,000, you can start practising in live market conditions. Of course, the funds in your wallet are virtual and cannot be withdrawn.

Creating a Live Account: Have you practiced enough? It’s time to open a Pepperstone au live account and begin trading for profit. Follow these steps to open your live account:

  1. Create Your Account
  2. Enter your name, email, phone number, and password to create your live account.

Verify ID

Identity verification is an important step for account creation in all legit brokers. The process ensures that only real people with extensive identity verification documents can trade, and it protects every trader on the platform from fraudsters. To verify your identity, Pepperstone au requires two ID documents:

A photo ID: Your photo ID can be your International passport, passport, National Identity card, or birth certificate.

2 Proof of address: A utility bill not older than three months, bank statement not older than three months, certification of lease of primary residence, or tax certificate. Any two of such documents will do. Again, ensure that all documents are captured with your phone camera and the four borders of the documents clearly show. Pepperstone will reject altered, black and white, or scanned images.

To submit your document, take a photo of each with your mobile phone and upload it. Ensure that the four borders of each document show in the picture. Pepperstone broker au does not accept black and white, altered or scanned pictures, and they reserve the right to ask for additional documentation, depending on your country and your documents. Without verification completion, Pepperstone will not admit a user to their live trading.

Once you submit all necessary documents and they are approved, you will receive an email from Pepperstone to the effect, and if otherwise, you will receive an email. If you have documentation issues, contact Pepperstone support through live chat or email. They are available 24/5.

Complete Trader Experience Survey

Pepperstone suitability test assesses your trading ability with derivative products. The test only has 7 questions and can be completed in less than 5 minutes. Results are also instant.

Deposit Funds

Once your documentation is approved, you can log into your secure client area and fund your account. Pepperstone trader advises that you should have a minimum of 200 Australian dollars in your account; however, you can start with any amount. Pepperstone also offers resources, tools, webinars, and educational materials to help traders succeed.

Practice with a Demo Account

With a demo account, you can practice trading within live market conditions. Demo trading is a risk-free way for beginner traders to learn the ropes.

Start Live Trading

Once you feel convenient enough, you can deposit funds and start live trading.

live trading

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.18% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Pepperstone Review Australia- Our Conclusion

Pepperstone is an industry-leading and licensed broker that charges zero withdrawal fees, opens up cash rebates and makes them available once a position closes, and has a friendly user interface. Pepperstone broker is excellent for beginners and expert traders, and offers demo accounts, resources, market analysis, and guides, that  will help all sorts of traders excel.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.18% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

FAQs

What is the minimum amount you can trade with Pepperstone?

Pepperstone does not require a minimum deposit. However, they advise that users deposit a minimum of 200 Australian Dollar. If you do not want to deposit funds yet practice in live market conditions, you can always register for the Pepperstone demo account and trade risk-free.

Is Pepperstone trading a scam?

Absolutely not, Pepperstone trading is not a scam. Pepperstone is a legitimate and popular Australian-based trading platform with all necessary licenses to operate within the region it does.

What is the minimum withdrawal amount on Pepperstone?

Pepperstone does not stipulate a minimum withdrawal and doesn’t charge any fee on withdrawals. The platform also allows withdrawals up to 90% of your free margin. Lastly, payment partners like PayPal, Skrill, and Neteller set maximum withdrawal limits; that is, there is a limit to the volume you can withdraw into such accounts. If your withdrawal volume exceeds the maximum limit, you can withdraw multiple times.

Is Pepperstone safe?

Yes, Pepperstone is a safe broker. It is licensed by Australia Securities and Investment Commission, ASIC, a top-tier Australian licensor. It is also licensed by the FCA in the United Kingdom and BaFin in Germany. Pepperstone also has deep liquidity so you do not have to worry about quote price when you open and close a position.

Who owns Pepperstone webtrader?

Pepperstone is owned by the senior management team of CHAMP Private Equity, led by the CHAMP managing director, Fiona Lock and executive Tamas Szabo. Pepperstone was founded in 2010 by Owen Kerr and Joe Davenport. Owen Kerr and Davenport were able to grow Pepperstone to unhinged heights, and in 2014, the company had over 60% growth in revenue. Pepperstone, albeit only about a decade old, enjoys massive adoption amongst users.

About Kemi Oladapo
About Kemi Oladapo

Kemi is a research writer and editor, and she explores news features on tech topics from blockchain to NFT, architectural rendering, metaverse, cryptocurrency, and home automation. When she isn't reading or writing, she spends time with her family.

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