Recommended for
- forex trading 4.1/5
Trusted broker
Regulated by top-tier financial authorities
Popularity
1978
people
chose this broker in the last 6 months
BrokerChooser Score
4.4/5
Pepperstone review summary
Pepperstone is a forex and CFD broker regulated by both the UK FCA and the ASIC in Australia. Pepperstone’s account opening is fast, easy, and fully digital. Customer service provides quick and relevant answers. Deposit and withdrawal processes are user-friendly and, in most cases, free of charge. On the negative side, you can mostly trade CFDs and the MetaTrader platform is rather basic. BrokerChooser gave Pepperstone a 4.4/5 rating based on analyzing 500+ criteria and testing via opening a live account.
Is Pepperstone a legit broker?
See how Pepperstone is regulated and whether you should have any concerns using it.
Pepperstone pros and cons
Pros
Cons
- Fast and fully digital account opening
- Great customer service
- Seamless and free deposit and withdrawal
- Mostly CFDs offered
- MetaTrader platform is basic
Pepperstone main highlights
🗺️ Country of regulation
UK, Germany, Cyprus, Australia, United Arab Emirates, Bahamas, Kenya
💰 Trading fees class
Low
💰 Inactivity fee charged
No
💰 Withdrawal fee amount
$0
💰 Minimum deposit
$0
🕖 Time to open an account
1 day
💳 Deposit with bank card
Available
👛 Depositing with electronic wallet
Available
💱 Number of base currencies supported
9
🎮 Demo account provided
Yes
🛍️ Products offered
Forex, CFD, Crypto
Fees
Pepperstone has low forex and non-trading fees, including no inactivity or account fees. However, CFD financing rates are high for a few assets.
Account opening
Pepperstone’s account opening process offers a rewarding experience. It is fully digital, user-friendly, and requires no minimum deposit for the Standard account.
Deposit and withdrawal
Pepperstone provides plenty of deposit and withdrawal options, as well as a wide selection of account base currencies. However, there is a high, $20 fee for bank withdrawals for clients outside the EU and Australia.
Web trading platform
Pepperstone’s web trading platform is provided by MetaTrader. It is highly customizable, available in many languages, and has a clear fee report. On the other hand, it lacks a two-step login and price alerts, and its design is outdated.
Mobile trading platform
Pepperstone has a great mobile trading platform offered by MetaTrader 4. It is well-designed and user-friendly. However, it lacks a safe login.
Desktop trading platform
In design and functionality, Pepperstone’s MetaTrader 4 desktop platform is almost the same as the web trading platform. One major difference is that you can set price alerts on the desktop trading platform.
Markets and products
At Pepperstone you can only trade forex and a range of CFDs (commodity, stock index, ETF, share, and crypto CFDs). This means that many popular asset classes such as real stocks and ETFs are missing.
Research
You can find trading ideas based on technical tools and read market reports written by Pepperstone’s research team.
Customer service
Pepperstone’s customer service is great. You can reach them on several channels and will get quick and relevant answers.
Education
Pepperstone has great educational materials. You can use demo accounts, participate in webinars and watch educational videos.
Safety
Pepperstone is regulated by 7 national authorities including top-tier regulators such as the FCA in the UK. At the same time, the company is not listed on any exchange, does not disclose financial information and does not have a bank parent.