Pepperstone is an Australian-based brokerage that sets the central infrastructure of intermediaries to connect buyers with the seller. It came into existence in 2010, and ASIC regulates it.
The services offered by Pepperstone are not limited to the residents of Australia only; in fact, it also covers the institutional and retail clients neglected by other regulatory bodies.
Pepperstone – Regulation & Licensing
FCA of the UK provides this other framework of regulation that not only covers the clients of the UK but also focuses on the European Economic Area. The UK launched these operations in 2016, which is entirely new to this pledge.
Pepperstone Ltd is the company behind the branch of Pepperstone in the UK. Securing a DFSA Dubai license has helped Pepperstone gain more market in the Middle East.
Cryptocurrency is also recognized in the standard tradable assets of world-known CFDs and Forex broker Pepperstone. Pepperstone uses cryptocurrencies like Litecoin, Bitcoin, Dash, and Ethereum. It is not the main competitive advantage of Pepperstone, but it provides a wide range of account types and trading platforms to fulfill its clients’ desires.
Why Should You Trust Pepperstone as Your Primary UK Forex Broker?
The primary purpose of using Pepperstone is that, in some cases, it offers excellent conditions. High-volume and institutional investors could ask to flow the liquidity on the brokerage platforms through the official website of Pepperstone.
The spreads on Forex, in some cases, majors such as the USD/EUR start from 0.0 pips. It is said to have an outstanding execution, but the feedback of some of the users on this account differs.
There is no other catch to the style of institutional trading described above; you only need a deposit of AUD 200 to open an account with the brokerage.
The exchange innovation brought to the shoulder by Pepperstone is top-notch; besides the MT4 and MT5 platforms, the web traders offered by the trader are also attractive, with excellent trading tools and features that can be easily accessed.
Pepperstone has always worked to improve customer services; that is why it is the number 1 brokerage in the industry, according to its official website. They have also received some inspiring awards, which can be used to prove their promises.
Pepperstone’s UK Regulation
Pepperstone is in a desirable position according to the perspectives of regulation, and FCA and ASIC regulate it. The license number provided by ASIC to Pepperstone is ACN 147055703, registered to FCA with FRN 684312 as its registration number.
Both brokerages keep the user funds in separate accounts along with famous banking institutions worldwide. An investor protection scheme has also been introduced to protect investors. To clarify, the protections and provisions attributed to the ASIC license are only for investors living in Australia.
Trading Assets
Pepperstones offers a wide range of trading instruments to its clients. There are 70 currency pairs in their forex selection, from the major pairs like USD/EUR to exotics and minors.
It is not a surprise that it offers low spreads and access to interbank execution because, according to the website, Pepperstone was initially founded as a forex brokerage specialist. 1:500 is the maximum and most impressive leverage rate obtainable on Forex.
Thirteen index CFDs other than the 70 currency pairs are also available. The margin requirement of these assets is just 0.5%-1% of the contract, and most of the global economy is supposed to be covered by these assets. The class of these assets has maximum leverage from 1:100 to 1:200.
Precious Metal Categories
Platinum/Palladium and Gold/Silver. cTrade and MT4 platforms provide the availability of both these categories. Some advantages offered to the traders by the CFDs in the Gold/Silver categories: the commodity pairs are free of any commission fees, and the risk can be offset by hedging.
These pairs have the maximum leverage of 500:1. The minimum size of the trade is set to $0.10 per pip. Trading conditions for Palladium and Platinum are similar.
Oil and gas comprise the energy section. These commodities also have similar trading conditions to Platinum, Palladium, Gold, and Silver.
The exciting fact about soft commodities is that they offer assets like cotton, cocoa, sugar, coffee, and even orange juice. MT4 and cTrade provide the availability of these assets too. They have higher spreads than Forex. For instance, 35 points are the minimum leverage of cotton.
The selection of trading instruments is wrapped up by cryptocurrency. The trade can be conducted via CFDs for the cryptocurrency offered at Pepperstone (Dash, Bitcoin, Ethereum, and Litecoin).
It means that during these trades, no possession of cryptos is given to the trader. Instead, they will deal with the difference between the price they came in and the exit prices in the contracts.
Trade Platforms
The users of Pepperstone are offered 11 trading platforms. The centerpiece of these platforms is MT4. All the attractive and additional features expected by a trader are present in MT4, including the support for VPS and EAs.
Several technical indicators are currently on this platform, offering to trade with one click. Both Mac-based and Windows versions support MT4.
Pepperstone also offers another web trader known as MT5 alongside MT4; its usage and access are pretty straightforward. MT5 does not have the download feature but is capable and powerful. Access to many trading tools and technical indicators is offered by MT5 too.
You can get these trading platforms on iPad, Android, and iPhone versions.
There are three versions for cTrader: A windows-based version, which is downloadable, a mobile platform, and a web trader.
Account Types
A demo account is offered to the clients with zero financial risks to try the trading platforms of Pepperstone. A real money account can be easily opened with a minimum deposit of just $200.
Edge Standard account is the most basic account for clients who want to invest real money. This account comes with a feature of STP execution and zero commission fees. The spreads on this account start from 1 pip and are said to be of high value.
There is a commission on the Edge Razor account, but it comes with 0.0 pip as its minimum spread.
The Swap-Free account is more than an Islamic account without any commission fees.
Retail traders and institutional investors can generate huge turnovers in the Active Traders account.
To Trade or Not to Trade with Pepperstone
We can confirm that Pepperstone is an excellent platform for online trading in the UK. Pepperstone also supports, other than the accounts mentioned above, PAMM/MAM accounts for money managers.
It has a decent selection of trading instruments and first-class trading platforms. There is no doubt about the regulatory status of Pepperstone’s operations.
The users criticize the trade execution speed, which can be seen in the users’ negative feedback.
FAQ:
Is Pepperstone Legitimate?
Pepperstone is legitimate according to its services, and Pepperstone offers genuine trading products and platforms. Many people appreciate the support staff of Pepperstone because it is accurate.
Some prominent entities like UK forex awards, BRW, Deloitte, Investment Trends, and others have awarded the broker for its activities.
An Australian-based company Pepperstone Group Limited is behind the foundation of the Pepperstone brand. Currently, the trading services are not offered to the residents of the United States, the EEA, and the UK by this branch. A UK-based company, Pepperstone Limited, covers CFD and forex deals in Europe and the UK.
Is Pepperstone a Good Broker?
The feedback of its users can best describe the answer to this question. Several users have given it high ratings in their feedback. Broker’s services are much appreciated, and some other users think they are trading with a scammer.
According to the feedback of users, the broker is appreciated on the following:
- Pepperstone’s quality of support.
- Speed of withdrawals. Some traders mentioned it took only 24 hours to withdraw their money.
- Trading platforms
- The conditions of trading. Attractive spreads are the reason for the popularity of Pepperstone.
Some of the users had issues with the following:
- Manipulation of spread.
- Delay in the withdrawals.
- Closed accounts.
- Broker closed open positions.
Please note that user feedback is the best measure of a broker’s performance, but at the same time, it can be manipulated easily and, unfortunately, is unreliable.
What is the minimum deposit for Pepperstone?
The minimum deposit recommended by the official website of Pepperstone is AUD 200 or equivalent. However, users can also deposit less, as per the site notes.
Is Pepperstone Regulated?
Yes, the Pepperstone brand is represented by two companies worldwide. ASIC regulates the Australian-based company Pepperstone Group Limited with license number 414530. FCA regulates UK-based Company Pepperstone Limited with license number 684312.
Where is Pepperstone Based?
The headquarters of Pepperstone is situated in Australia. The headquarters address is Level 16, Tower One, 727 Collins Street, Melbourne, VIC, Australia, 3008.
The office address in the UK is 70 Gracechurch Street, London, EC3V 0HR, United Kingdom.
