Pepperstone Review

Pepperstone have been around for many years and have rightly earned a fantastic reputation amongst the forex trading community as one of the best forex brokers, if not the best. Pepperstone is a name that I have often seen popping up during my many years of forex trading. I have a forex trading account with them myself – the Pepperstone Razor account – and couldn’t be happier with the online brokerage services that they provide. I find the platforms easy to use, with plenty of choice and very favourable trading conditions such as tight spreads, low fees and industry leading execution speeds at the best available prices. From low costs and flexible funding to choosing an account type that suits you, trading with Pepperstone means having the freedom to make the most of every market opportunity.

Pepperstone trading accounts offer cutting edge technology to trade the world’s markets and provide retail forex traders with incredibly low-cost pricing across all forex currency pairs with the added security of financial regulation and some of the forex industries leading customer support. You can also trade CFDs on Cryptos, Stocks, Indices, Commodities and ETFs.

They offer one of the most popular and user-friendly forex trading platforms in MetaTrader 4, they have some of the best forex spreads I have ever seen and very reasonable commissions. Furthermore, the wide range of liquidity providers (LP’s) that Pepperstone implements ensures that they have some of the best price quotes and lightning fast execution with minimal (if any) requotes. These factors may or may not sound technical to you, but rest assured, they mean that Pepperstone provides some of the best forex trading conditions possible.

Pepperstone provides institutional grade trading to the online retail forex trader, without any complicated account structures or catches. They focus heavily on a fast execution experience with low cost trading, superior trade execution speeds and spreads starting from as low as 0.0 pips on the EUR/USD currency pair.

Pepperstone welcome all trading styles and apply a very low minimum account size. It doesn’t matter what your previous trading experience is or your investment size, the broker has customised solutions to cater for clients from all backgrounds. Whenever I have had a support question for Pepperstone, the live chat has been very helpful and fast in their response.

Furthermore, Pepperstone have developed cutting edge execution technology, whilst they also continue to introduce handy trading tools for forex traders to ensure a seamless trading experience, including mobile trading apps, WebTrader, advanced account analytics and their very own proprietary client area.

You can even quickly setup a free forex demo trading account with Pepperstone to see for yourself. Or, you can even open a small real trading account with Pepperstone as the minimal deposit requirements are very achievable and trading on a real account will give you a feel for the discipline and emotions required to be a successful trader.

With Pepperstone, you should have everything that you need to start or continue your forex trading at one of the best forex brokers in the world.

Markets

Pepperstone have an excellent selection of trading instruments with something for everyone. It doesn’t matter if you are a day trader or long-term investor, you can take advantage of a range of market opportunities with 1200+ instruments available to trade.

CFD Trading

Pepperstone provide contract for difference (CFD) trading which enables you to speculate long (buy) or short (sell) on the price of various trading instruments without needing to physically own the underlying asset. If for example, you thought that the price of a financial instrument would rise, you may look to buy a CFD, if you thought that the price would fall, you may look to sell the instrument. The difference in the price from when you open and close the CFD, is the profit or loss, minus any brokerage fees such as spreads and commissions. This type of trading makes the markets accessible to everyone.

Forex Trading

Access the most liquid market in world. Trade FX majors, minor and exotics with low commissions and competitive spreads.

Commodities Trading

Trade commodity futures such as coffee, cocoa, cotton, orange juice, and sugar with the option to trade on USDX.

Index CFDs

Trade on the movement of 14 major stock markets around the world with no commission.

Share CFDs

Gain exposure to a wide range of companies, such as Apple, Alphabet, Tesla and Alibaba, and take advantage of reporting season with our after-market trading hours and commissions from USD$0.02 per share.

Trade ETF CFDs

Exchange-traded funds (ETFs) are a unique investment vehicle that allow you to express a view on a particular equity market thematic, sector, and even the broader stock markets, both on an individual country and global basis.

Cryptocurrency Trading

Buy and sell CFDs on some major cryptocurrencies with leverage up to 2:1 without the need for a wallet or exchange. (Only for Professional Clients).

Currency Index CFDs

Currency indices measure direct changes in the value of a currency against a basket of other currencies. This differs from a currency pair in that there must be more than one other currency that the main currency is being measured against.

Globally recognised as a benchmark for the value of the US dollar, the USDX is the most traded currency index and can be traded with us as a CFD with leverage of up to 1:10. USDX is most heavily weighted toward the major currencies such as the Euro, Yen and Pound – with 6 currencies in total making up the basket the US Dollar is measured against.

Platforms

Pepperstone offers the MetaTrader 4 and MetaTrader 5 (MT4/MT5) trading platforms which are very popular and widely used trading platforms, well known for having a quick learning curve and for being very user friendly yet powerful enough to satisfy the needs of even the most demanding of traders. They also offer the sophisticated, professional and powerful cTrader platforms. All platforms can be used on desktop, directly in your web browser or via mobile trading apps.

Pepperstone MT4 Platforms
Pepperstone MT4 Platforms

MetaTrader 4

Pepperstone provides access to the world’s most popular trading platform MetaTrader 4 (MT4) from your phone, tablet or desktop, so that you can enjoy the freedom to trade your way. MT4 enhances your trading experience with live quotes, real-time charts, in-depth news and analytics.

  • Customise the platform to the way you trade
  • Build and run your EAs using MetaQuotes Language 4 (MQL4)
  • Identify statistically significant market movements with Autochartist
  • Access 28 indicators and EAs with our Smart Trader Tools
  • Choose from thousands of other online tools to plug into MT4

Whatever your skill level, MT4 can give you a competitive edge. It offers a rich, user-friendly interface in a highly customisable trading environment to help improve your trading performance. MT4 is free to download and can be used in both our demo and live accounts.

  • 85 pre-installed indicators available on the desktop app for greater insight into market trends
  • Analysis tools that empower you to make better informed decisions
  • Flexible order types to suit your strategies
  • Access 28 additional Smart Trader Tools
  • Automated trading allowing you to trade the markets 24/5 without any intervention
  • Back testing capability for more robust Expert Advisors
  • Multiple chart setups to help you to control your positions quickly and efficiently

Furthermore, many automated forex trading systems (forex robots) and forex indicators have been developed to be used in MetaTrader so another reason many traders will opt for that particular platform when opening a forex trading account with Pepperstone.

Pepperstone MT5 Platforms
Pepperstone MT5 Platforms

MetaTrader 5

MetaTrader 5 (MT5) is a more powerful release of MetaTrader with greater functionality. With faster processing times, the newly released ability to hedge your positions, advanced pending orders and the newest tools and indicators to help you take your trading to the next level, MT5 provides exceptional features to help you stay ahead of the markets.

  • Easier to use
  • Easier to code using MQL5
  • Advanced platform customisation
  • Optimised processing of expert advisors and indicators
  • Access Smart Trader Tools and Autochartist

MT5 is for traders who need advanced financial trading functions and superior tools for analysis. For those new to MetaTrader, MT5 is one of the easiest trading platforms to understand.

  • Optimised processing speeds
  • Ability to hedge your positions
  • Built-in economic calendar
  • 38 inbuilt indicators
  • Maximum of 500 total orders
  • 21 timeframes
  • Advanced pending orders
  • Compatible with Autochartist and Smart Trader Tools packages
Pepperstone cTrader Platforms
Pepperstone cTrader Platforms

cTrader

Created by Spotware with the mission to balance simple and complex functionality, cTrader is excellent for both new and advanced traders. Traders can place advanced order types and better understand the orders they’re placing in more detail.

  • Perfect for those getting into trading
  • Designed to replicate an institutional trading environment including depth of market
  • Control order fills with advanced cTrader features
  • Advanced risk management and order functionality
  • Coding in C# and open API available
  • Optimised processing of expert advisors and indicators
  • Advanced platform customisation with cTrader Automate (formerly cAlgo)

cTrader is an intuitive and easy-to-use platform with advanced trading capabilities such as fast entry and execution and coding customisation, as well as plenty of education and analysis to help you make better trading decisions. Build automated trading robots and custom indicators in the popular C# language using the cTrader API.

  • Detailed trade analysis feature to understand your strengths and weaknesses
  • Large range of indicators
  • Detailed order tickets, including base currency dollar value or pip distance
  • The ability to add multiple take-profit orders
  • Comprehensive educational videos available within the platform

TradingView

Pepperstone integrates with the excellent TradingView professional trading software via cTrader. Simple for beginners and effective for technical analysis experts, TradingView has all of the instruments for publication and the viewing of trading ideas. Real-time quotes and charts are available for wherever you are at whatever time.

TradingView
TradingView

Pepperstone Social Trading

Pepperstone have partnered with a range of social trading platforms to help you access strategies from the world’s best traders. Follow and copy trades from popular traders using third-party services while learning how to improve your own trading.

DupliTrade

A marketplace of signals automatically traded on your own MT4 account. Diversify your investment with DupliTrade, a popular trading strategy marketplace that allows you to automate your trading. DupliTrade uses signals from proprietary traders, tapping into their expertise, which lets you build your trading knowledge and gain a key understanding of pro techniques.

With a minimum deposit of AUD$5,000, you’ll gain access to DupliTrade’s robust portfolio of leading strategy providers, automatically traded on your own MT4 account. If you’re still getting to know the markets, you can also practise strategies on your demo account. Just keep in mind that there are no guarantees on how well the DupliTrade signals will perform. You should be aware of the risks and understand that past performance is no guarantee of future results.

Pepperstone Market Analysis

Explore high impact economic event coverage, expert commentary, videos and more from the Pepperstone global market analysts. The broker provides a great selection of frequently updated articles that cover the latest market movements with detailed yet easy to understand information. You will find articles on fundamental analysis and technical analysis from the brokers inhouse expert analyst team.

Out of all the brokers who take the extra step to provide clients with up to date market analysis, I must say that Pepperstone do go that extra mile with a plethora of useful content which can be used to not only educate you about what is happening in the global markets, but also help to inspire possible trade ideas. What’s more, all of the market analysis is kindly provided completely free of charge!

Tools

Pepperstone have a range of trading tools to help you manage your trading risk, improve your trading strategies and stay in the know.

Smart Trader Tools for MetaTrader 4 and 5
Smart Trader Tools for MetaTrader 4 and 5

MetaTrader Smart Trader Tools

Unlock your trading potential with 28 tools, expert advisors and indicators exclusively available to the MetaTrader platforms. The Smart Trader Tools package is a suite of expert advisor tools to help improve your trade execution and management. Optimise your perfect trading strategy, manage your risk and enhance your overall trading experience with 28 smart trading apps, including expert advisors and indicators.

The full set of tools, detailed below, includes sophisticated alarms and broadcast facilities, with up-to-date market data and functions integrated within the MetaTrader interface, to make your trading experience easier and more enjoyable.

Amongst the abundance of exceptional expert advisors and indicators included in the smart trader tools package, you will get the following:

  • Notifications for trade-related events, changes in price action and more
  • All the news and analysis you need in one place
  • Greater insight when you view correlation between any trading instruments
  • Access in-depth correlation analysis across timeframes
  • Use Excel to monitor, analyse and report in real-time market data
  • See market prices plus open and pending orders more easily
  • All the functionality of the Trade Terminal but on a single market
  • Market sentiment ratings, including live and past data across markets
  • A global map showing real-time pending market sessions, overlaps and more
  • Create charts for timeframes using a Generator EA
  • Test your strategy on MT4 with data and real-market pricing
  • A feature-rich professional trade execution and analysis tool
  • Modified and editable offline charts available on MT4
  • See time left in the current bar or a different timeframe selected
  • Adjust charts across multiple timeframes
  • Compare the price action on different symbols easily
  • Gain insights into trends as well as identify range trading opportunities
  • Draw directly on your chart using this easy-to-use tool
  • Easily identify areas of possible support and resistance
  • View the high-low of a particular period on your current chart
  • Keltner channel that changes based on ATR
  • Create a draggable, resizable sub-window inside the main chart
  • See the price action on other instruments and timeframes
  • Review previous trades or plot the open and close of a particular trade
  • Identify key market levels based on the previous trading day and more
  • Draw Renko blocks on a normal MT4 time-based chart
  • Draggable sub-window showing valuable symbol data

Autochartist

Remove the market noise and focus on the trade opportunities that matter with the powerful Autochartist market scanner. In a market that’s always on the go, it can be tricky to know which moves matter. Autochartist helps you to focus on the trade by removing market noise and highlighting the currency pairs, data intervals and technical indicators that signify key market events.

Autochartist
Autochartist

Autochartist alerts are built directly into the Pepperstone MetaTrader trading platform, making it easy to view and analyse alerts in more detail alongside the platform’s other indicators.

Autochartist features include:

Market scanner

Autochartist is a unique market scanner respected for its ability to provide statistically significant market movements, as well as identifying important price levels that have proven themselves to be catalysts for market movements.

Probability filters

Pepperstone’s version of the Autochartist market scanner also has a built-in filter for market events that have shown themselves to be of significant trading value over six months of historical back testing, including a drop-down list feature where you can select minimum past-performance probability values and patterns.

Risk management tool

A good risk and money management tool can help you on the journey to successful trading – and some people believe that Autochartist’s Risk Calculator is one of the best available. It provides you with expected market movements ranges for the next hour, 4 hours and 24 hours, and guides you to the trading volume you need to set in order to remain within your risk tolerance.

Technical indicators

Receive automatic notifications from Autochartist when emerging and completed Chart Patterns such as Triangles, Wedges, Double Tops and Double Bottoms are identified.

Volatility analysis

Use Volatility Analysis to help you set appropriate take profit and stop-loss levels based on expected market volatility. Plus, you’ll discover information like the time of day at which markets are most volatile and how to select instruments which fall within acceptable risk parameters.

Daily market reports

Subscribe to receive high-impact economic events and actionable trading opportunities from Autochartist for your preferred trading session. Traders can execute trades directly from their email without needing to open MT4.

Pepperstone API Trading
Pepperstone API Trading

API Trading

Pepperstone support automated trading via their API. Also known as Application Programming Interface trading, this technology is ideal for those using automated trading systems or developing their own custom-built system. Pepperstone current account holders with a minimum of €160m trading volume per month may apply for a FIX Demo Environment to test the FIX Capabilities. Possible benefits of trading with the Pepperstone FIX API include:

  • Increased ability to see depth of market
  • Peace of mind knowing Pepperstone have a segregated client account for your capital
  • Access to multiple liquidity providers to ensure you get the best pricing

VPS Hosting

VPS (Virtual Private Server) hosting allows traders to run automated algorithmic strategies, including expert advisors 24 hours a day 7 days a week on a virtual machine. The benefits of trading using VPS hosting include minimising the chance of system downtime due to technology and connectivity failures. Pepperstone have partnered with a few Forex VPS companies and therefore are able to give clients a discount. However, I have seen some brokers such as IC Markets give a free forex VPS to qualifying clients.

Education

Pepperstone have a wide range of online resources, trading guides and expert webinars available in English. If you are new to trading, you will find all the trading basics you need to know to get started on your journey. From defining your trading style, developing a strategy or using expert advisors, you’ll find a range of webinars led by Pepperstone analysts and experts to guide you.

Conclusion

Pepperstone is one of the best forex brokers that I myself and many other forex traders over the world have had the pleasure to trade with. The simplicity of account opening / funding and the MetaTrader trading platforms make Pepperstone a very attractive forex broker not to mention the strict regulation that they have which gives great reassurance. The customer support is also amongst the best you can ask for whilst importantly, the trading conditions are excellent and everything that I could ask for in a forex broker.

Finding the right forex broker can be a large part of being a successful trader when you consider the impact of trading costs and the trading environment that you may be using on a daily basis. It is therefore important to make sure you are using a broker that is reliable and can be trusted. From my many years of experience, you can rest assured with Pepperstone you have a forex broker with a top reputation for many years to come.

Pepperstone

8.6

Markets

8.0/10

Platforms

9.0/10

Tools

9.0/10

Education

8.5/10

Pros

  • Excellent trading platforms and apps
  • Powerful trading tools
  • Very good trading conditions
  • Good selection of trading instruments
  • Free market research and analysis
  • Fast deposit and withdrawals
  • Free demo trading accounts
  • Excellent 24/7 customer support

Cons

  • Cannot accept USA traders
  • Minimum $200 deposit