|Legal Company Name||Pepperstone Limited|
|Regulators||AFSL No.414530, ASIC|
|Minimum Spread||0.0 pips|
|Deposit & Withdrawal||Bank wire, Visa/Mastercard, Paypal, Skrill, Unionpay|
|Trading Platform||MetaTrader 4, MetaTrader 5, cTrader|
Who might benefit from trading with Pepperstone?
Anyone who wants an STP account with a reputable broker which is regulated in Australia. The spreads are tight, the account minimum deposits are reasonable for the standard trader. If you want a VIP account of a Micro account, Pepperstone is not for you. In addition, I got tripped up by the negative balance protection, which actually does allow for losses great than your account balance – so making it not real negative balance protection.
Live Account Types:
Besides the demo account, Pepperstone as three strong account options for the traders.
Standard Account: This is the Pepperstone classic account that offers Interbank spreads and competitive liquidity with no commission on the trades. Use your MT4 account on this account, get negative balance protection and even electronic assistance with risk management. A good standard account, with a very solid foundation and not many additional frills.
Razor Account: This is the more premium of the accounts, where Pepperstone really demonstrates transparency by making the cost of every trade available to you. With this account and a minimum deposit of $200, you get even tighter spreads from deeper liquidy centers, while being allowed EAs, hedging, and scalping.
Islamic Account: Very similar in setup to the Razor account with a $200 minimum deposit this account is a straight-through-processing and swap free account.
Opening Live Accounts:
From the overview screen, select Request New Live Account, and then select which platform, account type (see above) and leverage you would like to have for your account.
Create a Demo Account
Creating a demo account is easy. Inside the client area select (see above) select the Request new Demo Account and complete the form as shown below. This account will automatically close after 30 days, at which point you can open another should you need.
Pepperstone is a good match for Australians because the broker is ASIC regulated with License #414530. Client’s trading funds associated are held in separate segregated client trust accounts with the National Australia Bank. In addition, broker staff must meet high standards which are achieved through continuous training. Additionally, Pepperstone is also regulated under registration number 684312 by the FCA.
The two most popular trading platforms are available at Pepperstone.
- MetaTrader4 which is easy to use has charting features and executes trades very easily. MetaTrader4 is the gold standard of Forex trading software that is compatible with most ECN/STP brokers.
- cTrader is used mainly by the more advanced Forex trader on day trades and using expert strategies.
The speed of the transactions is due to Pepperstone having a direct fiber optic link to Equinox, just 18 km from Wall Street.
Spreads and Leverage
Leverage is one of the highest on the market at 500:1 and spreads can be as low as 0.1 pips when dealing with USD/EUR in the Razon account. The spreads might even go as low as 0 when there is more liquidity in the market and access to capital.
Deposits and Withdrawals
All the major cards can be used with all accounts. Withdrawals by Australians into Australian banks is a smooth and speedy operation, as is with credit cards.
Select an account, select the funding method and the amount.
Once you have set up a default payment method, the quick deposit option becomes available. Again, select the trading account you wish to fund, choose the payment method and then the amount.
Withdrawing should be quick and easy. This functionality is the test of a good broker. Different options are offered each with a different ETA time for the funds to land in your account.
Pepperstone is a fairly new player in the Forex game compared to most other brokers, but it has worked hard to build a great reputation through good support. 24-hour email and phone assistance are available from any of the London, Melbourne, Shanghai, Dallas and Bangkok offices.
Pepperstone is a solid Forex trading company that provides top customer service, with great technology and with trading conditions that are hard to beat. If you want an Australian ASIC-regulated broker, Pepperstone is a strong competitor.