Plus500
- Min Deposit $100 or equivalent
- 2,000+ Tradable Assets
- Max Leverage: 30:1 , 300:1 professional clients
- Official Partner Atlético de Madrid
Pepperstone
Min $200
8.5/10 (Expert Score)
Product is rated as #9 in category CFD Brokers This Pepperstone review gives you all the key facts you need to decide if it’s the right platform for your money. Brought to you by Brokerage Compare.
PROS:
- Min Deposit $200
- Max Leverage: 30:1, 500:1 professional clients
- Forex, Cryptocurrencies, Stocks, Commodities & Indices
- Credit/Debit card, Bank transfer, Electronic wallets
- Web Trader, Mobile App, Desktop Trader, MetaTrader 5, MetaTrader 4, cTrader
- Regulated by FCA, ASIC, DFSA
- 6 Languages Supported
- GBP, USD, EUR, CHF account base currency
CONS:
- 180+ Tradable Assets
- High swap rates and overnight charges
- No 24/7 support
Pepperstone Review
Pepperstone is a broker specialising in Forex, currency index, cryptocurrencies, index, share and commodities CFDs. It was founded in 2010 by Owen Kerr and Joe Davenport and it’s based in Melbourne. It boasts 57,000 customers, 170 employees and a daily trade average of $12.55bn.
Pepperstone Fees Review
PROS:
- Low trading fees
- Low Forex fees
- No inactivity fee
CONS:
- High swap rates and overnight charges
Spreads
When you trade with Pepperstone, you’ll find variable spreads on their MetaTrader 4 and MetaTrader 5 platforms, with prices coming from a number of sources to give you access to the best one. You can see an example of min and avg spreads below:
| Currency pair | Razor minimum spread | Razor average spread | Standard minimum spread | Standard average spread |
|---|---|---|---|---|
| EURUSD | 0 | 0.16 | 1 | 1.16 |
| GBPUSD | 0 | 0.40 | 1 | 1.40 |
| AUDUSD | 0 | 0.27 | 1 | 1.27 |
Swap Rates
When you hold positions overnight in Forex, Pepperstone will charge you a swap rate. The rates are calculated by financial institutions that Pepperstone works with, based on market conditions and risk management analysis. Each currency pair has its own rate, measured on a standard size of 1.0 lots. You can see an example below:
| Currency pair | One point | Exchange rate | Trade size | Long swap rate | Short swap rate |
|---|---|---|---|---|---|
| EURUSD | 0.00001 | 1.1290 | 1 lot (€100,000) | -11.49 | +7.02 |
Swap value debited is €-10.18 and, if you were short one contract of EURUSD, you’d receive €6.22 daily.
(0.00001/1.1290) * (100,000 *-11.49) = €-10.18
Commissions
cTrader account commissions are 0.0035% of the base currency that you’re trading. E.g. if you trade 100,000 EUR/USD, you will pay €3.50 to open the contract and another €3.50 to close it.
Overnight Charges
Pepperstone charges a fee for positions in equity CFDs, Share CFDs or Commodities that are held open overnight. This fee is daily, it applies to weekends as well and it’s estimated by adding or subtracting 2.5% on top of the benchmark regional interest rates for the underlying product.
Non-trading Fees
| Account Fee | Deposit Fee | Withdrawal Fee | Inactivity Fee |
|---|---|---|---|
| $0 | $0 | $20 for international bank transfer | $0 |
Pepperstone Deposits & Withdrawals Review
PROS:
- Min deposit $200
- Credit/Debit card, Bank transfer, Electronic wallets
- Account base currency: GBP, USD, EUR, CHF
CONS:
- $20 withdrawal fee for international bank transfers
Account Base Currency
When you open an account with Pepperstone, you can choose between 4 currencies: GBP, EUR, USD and CHF. However, once the account is created, you can no longer change the base currency and, if you need to trade in a different currency, you’ll need to open a second live account.
Deposit & Withdrawal Options
| Deposits | Withdrawals | |
|---|---|---|
| Credit/Debit card | Visa & Mastercard | Visa & Mastercard |
| Bank transfer | Yes | Yes |
| Electronic wallets | Yes | Yes |
How long will it take for my deposit to show on Pepperstone?
If you make the deposit over Visa or Mastercard, it’s instant. Bank transfers take a few business days.
When will I have access to my money if I withdraw from Pepperstone?
Requests received before 8am (GMT) are processed on the same day, otherwise they’re processed the following day. Bank transfers take about 3-5 business days.
What is Pepperstone minimum deposit?
Pepperstone minimum deposit is $200.
Can I withdraw any amount?
Pepperstone only allows you to withdraw 90% of your free margin, when you still have open trades.
Does Pepperstone charge withdrawal fees?
Withdrawals via debit/credit card and some e-wallets (except Skrill and Neteller) are free. Bank transfers are free for customers based in the EU or Australia, otherwise there’s a $20 charge.
Are there any terms on where I direct any funds I withdraw?
Pepperstone’s only specification is that you withdraw to accounts in your name or accounts where you’re the joint holder.
Make your First Deposit with Pepperstone
back to menu ↑Pepperstone Account Types Review
You can easily open a Pepperstone account online. All you need is an email address or, alternatively, you can use your Facebook or Google account. Then you get two options: you can either try out the platform using play money with a 30-day demo account or you can start trading directly with either a standard or a razor account.
| Razor | Standard | |
|---|---|---|
| Institutional grade spreads | Yes | Yes |
| Average EURUSD spread | 0.0 – 0.3 pips | 1.0 – 1.3 pips |
| Commission | From GBP4.59 round turn 100k traded | $0 |
| Rollover swaps | Refer to your trading platform for market rates | Refer to your trading platform for market rates |
| Best for | Scalpers and algorithmic traders | New traders |
Platform Languages
The Pepperstone platform is multilingual with 6 languages: English, French, Spanish, Polish, German and Italian.
Open a Trading Account with Pepperstone
back to menu ↑Pepperstone Platforms & Assets Review
PROS:
- Forex, Cryptocurrencies, Stocks, Commodities & Indices
- Web Trader, Mobile App, MetaTrader 5, MetaTrader 4, cTrader
CONS:
- 180+ tradable assets
When you choose Pepperstone, you will have access to 3 free online platforms that run via WebTrader and mobile apps. These are MetaTrader 4, the more powerful MetaTrader 5 and the user-friendly cTrader.
Social Trading
Pepperstone uses 3rd party services allowing you to copy successful traders. It also offers MetaTrader signals, giving you access to real-time strategies and signals from successful traders.
Start CFD Trading with Pepperstone
back to menu ↑Pepperstone Customer Service Review
PROS:
- Phone, email, live chat
- Fast response time
CONS:
- No 24/7 support
Pepperstone offers efficient customer service but it’s on weekdays only. You can reach them via live chat and a toll-free phone number.
back to menu ↑Is Pepperstone safe?
| Regulator | License | Legal Entity |
|---|---|---|
| Financial Conduct Authority (FCA) | 684312 | Pepperstone Limited |
| Australian Securities and Investments Commission (ASIC) | 414530 | Pepperstone Group Limited |
| Dubai Financial Services Authority (DFSA) | N/A | Pepperstone Financial Services |
Is Pepperstone safe?
- Yes, it is authorised and regulated by the UK’s Financial Conduct Authority (FCA), the Australian Securities and Investment Commission (ASIC) and the Dubai Financial Services Authority (DFSA).
Is there negative balance protection on Pepperstone?
- Pepperstone includes a stop-out feature to minimise your losses before the market moves further against your open contracts.
Disclaimer
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Specification: Pepperstone
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Videos: Pepperstone
Photos: Pepperstone
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