Pepperstone Broker Review
Pepperstone have a pretty good reputation in the world of currency trading, so much so that we had a number of our traders asking why we had not put them on the site! We have traded through both their Australian and London based offices over the years and can vouch for their fairness and good service.
Account type: CFD’s or Spread bet
Markets: Forex, Digital (crypto CFD’s), commodities, Equity exchanges, Shares CFD’s
Category: Market maker
Status : All traders
Website : https://pepperstone.com/en-gb/
Regulation: FCA ASIC
Pepperstone were founded in Australia in 2010. They opened an office in London not long after. The have recently brought in a new management team into their London office.
They offer either spread betting or CFD accounts, the former is currently free of capital gains tax in the UK subject to your personal circumstances. Both offer competitive spreads, the option to have their razor account when trading CFD’s means that you pay $3.50 per full lot each way. Their swap rates are also very competitive.
Pepperstone offer a number of tools for MT4 charts plus you can subscribe to their technical alerts. To be fair these alerts are quite generic and quite annoying as they fill your inbox!
Pepperstone offer both MT4 and MT5 platforms in addition to cTrader. The MT4 platform has full functionality and they are happy for you to use AI systems. cTrader is becoming more popular and is offered by a number of brokers.
For help setting up your MT4 charts you can watch the series of videos that I recorded on the blog.
The cTrader platform is available as a down load or can be opened via a browser. If you wish to float the charts on the cTrader platform you will need to use the download version as they cannot be floated via the web version.
MT4 charts are pretty useful although not up to the standards found on stand alone charting packages. The great thing is that you are able to trade directly off the charts. As with many charts the 4 hour periods are not set to UK time so may differ to other charting packages.
The cTrader charts are more flexible but are still quite clunky. You can float them out if you want a more professional set up but only if you use the download the software. The charts have many of the most common indicators but there are some common ones that are missing from the standard list such as one of my favourites Pivots! You can get loads of add on indicators, some of which are paid for and others that are free. It really is like MT4 in this repsect.
Opening an account
As with most brokers these days opening an account is quite simple and can usually done and funded in less than a day.
Once you have opened an account you can fund your account and select additional platforms for you phone etc from the client area.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% 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.
You can read more about risk by clicking here. We strongly recommend that you fully understand the risk in trading before opening an account with any broker.