Pepperstone UK Review 2024

Last updated Mar 1, 2024
Логотип Pepperstone UK
4.5/5
75.3% of retail investors lose money when trading CFDs with this broker
Nikolay Zavarov - Author
Nikolay Zavarov
Author
Andrey Bondarenko - Editor
Andrey Bondarenko
Editor

In this review, we will analyze the activities of Pepperstone, evaluate its cooperation conditions, and present real trader reviews. The review aims to assist beginners in deciding whether to choose this broker as their intermediary or to continue their search.

Pepperstone Broker Overview

Foundation Year2010
Official Websitehttps://pepperstone.com
Regulated in CountriesAustralia, Bahamas, Cyprus, United Arab Emirates, Germany, Kenya, United KingdomMore Details
Minimum Deposit
  • 1 GBP
Spreadfrom 0 points
Max Leverage1:30
Trading Assets
  • Forex
  • Indices
  • ETF
  • Stocks
  • Precious Metals
  • Energy Carriers
  • Agricultural Commodities
Trading Platforms
  • MetaTrader 5
  • MetaTrader 4
  • cTrader
  • TradingView
Email Support
  • support@pepperstone.com
Hotline Phones
Social Media

Pepperstone is an ECN broker that was founded in Melbourne, Australia. It has been operating since 2010.

Pepperstone specializes in providing services for trading in financial markets. With fast trade execution, low commissions, and a wide range of instruments, Pepperstone aims to help traders achieve their trading goals.

The company has been honoured with prestigious awards from Investment Trends and Deloitte, confirming its recognition for high customer service and trading conditions.

Pepperstone Review Summary

The broker evaluation is conducted based on our unique methodology, which we have developed to simplify the broker selection process for our users. We have considered numerous factors, including regulation, trading conditions, platforms, educational materials, and the quality of customer service.

We hope our assessment and review of Pepperstone will help you make an informed decision. Continue reading the review to learn more about how this broker operates and why it might be a good choice for you.

Reliability and Regulation

Rating:5/5
Legal EntityRegulatorReview
Pepperstone AU review
Pepperstone review
Pepperstone EU review
Pepperstone AE review
Pepperstone DE review
Pepperstone KE review
Current review

Pepperstone is regulated in seven different jurisdictions, indicating a high level of reliability and regulation. It is important to note that each of these regulators has its standards and requirements, ensuring comprehensive oversight and transparency of the broker's activities.

Among these regulators are respected organizations such as ASIC (Australia), SCB (The Bahamas), CySEC (Cyprus), DFSA (UAE), BaFin (Germany), CMA (Kenya), and FCA (United Kingdom). This confirms Pepperstone's status as an international broker operating by global standards.

Safety and Protection of Client Funds

Pepperstone is recognized for its commitment to safeguarding client funds. Several measures are in place to earn and maintain client trust in the security of their investments:

  1. Regulatory compliance. Pepperstone is authorized and regulated by the Financial Conduct Authority (FCA), with registration number 684312.

  2. Segregated client accounts. Client funds are held in segregated bank accounts at regulated banks, ensuring they are distinct from Pepperstone’s funds.

  3. Risk assessment. Retail client money is distributed across major banks and regularly assessed against Pepperstone’s risk criteria.

  4. Protection from liquidation. Client funds and assets are safeguarded from creditors if Pepperstone goes into liquidation. Pepperstone does not use retail client money for hedging trades with other counterparties.

Handling of Client Funds

Pepperstone adheres to strict rules set by the FCA regarding client money and assets:

  • On opening an account, individuals are classified as retail clients, with their funds held separately from Pepperstone’s funds.
  • In the case of liquidation, the segregated funds are protected under property, trust, and insolvency law and cannot be claimed by Pepperstone’s creditors.

Scenario of Liquidation

In the unlikely event of Pepperstone's liquidation:

  • Retail clients would have their share of segregated money returned, minus the costs incurred by administrators for handling and distribution.
  • Losses up to £85,000 may be compensated under the Financial Services Compensation Scheme (FSCS).

Bank Liquidation Impact

If a holding bank of Pepperstone faces liquidation:

  • Clients would proportionally share losses based on their funds with the failed bank.
  • The FSCS may compensate for any loss of funds up to a strict limit of £85,000 per person per institution.

Financial Services Compensation Scheme (FSCS)

  • Membership. Pepperstone is a member of the FSCS in the UK.
  • Compensation limits. Eligible clients can claim up to £85,000 if an investment firm or a client money bank fails.
  • Eligibility. To qualify for FSCS compensation, clients must meet certain criteria per FSCS rules.
  • Cost. There is no cost to clients for using the FSCS.

This scheme acts as a safety net, ensuring that clients of authorized firms like Pepperstone are protected in various financial scenarios.

Account Opening

Rating:5/5

Opening an account with Pepperstone is simple, convenient, and quick, and most traders should not encounter any difficulties.

Registration

To open a personal account with the Pepperstone broker, you need to visit the company's official website and click the "Join Now" button in the upper right corner, after which users are redirected to the registration page.

In the registration form, you must indicate:

  • account type - individual, company, introducing broker;
  • country of residence;
  • first and last name;
  • date of birth;
  • mobile phone number;
  • email;
  • password for personal cabinet access.

Now, you have access to your cabinet.

Verification

You must complete the verification process; otherwise, you cannot open a trading account. Without verification, only a demo account is available.

First, you will need to fill out all the necessary forms:

  • personal details, residential address;
  • trading preferences - terminal, leverage, account type, account currency;
  • employment, income, trading experience;
  • a suitability test for trading CFDs and Forex. A regulatory requirement;
  • declaration. Here you simply need to familiarize yourself and confirm that you understand and agree with the broker's terms.

You should only provide accurate information, as you must further confirm it.

As the last step, users are asked to provide photographs or scanned images of a passport or other identity document and a bank statement or utility bill to confirm their residential address.

Client Area Overview

Upon completion of verification, clients have access to all the features of the personal cabinet. You can now:

  • open a trading account;
  • deposit and withdraw funds;
  • use the broker's calculators and trading tools;
  • apply to participate in the broker's affiliate program;
  • download the trading platform;
  • contact technical support.
Pepperstone Client Area
Pepperstone Client Area

Minimum Deposit

There is no fixed minimum deposit amount at Pepperstone. Consider your trading experience and financial situation when deciding on the size of your deposit.

Account Currency

Pepperstone offers a wide choice of currencies for account opening. You can choose from the following currencies: US dollar (USD), British pound (GBP), euro (EUR), and Swiss franc (CHF).

This provides flexibility for traders from different countries and minimizes potential losses due to currency exchange.

Account Types

Rating:3.3/5

Pepperstone offers extensive opportunities for most traders, including various trading platforms and support for different asset types for trading. However, it should be noted that the absence of cent accounts, fixed spread accounts, and insufficient variety in account types may not fully meet the needs of specific trader categories. This is especially relevant for beginners who may find it more convenient to start with a cent account and those who prefer a fixed spread's stability.

Trading Accounts

Standard and Razor accounts are available for selection.

StandardRazor
Account CurrencyGBP, USD, EUR, CHF
Minimum Deposit1 £
Trading PlatformsMetaTrader 5MetaTrader 4cTraderTradingView
Spreadfloatingfrom 1 pipsfor EURUSD~ 1.15 pipsfloatingfrom 0 pipsfor EURUSD~ 0.15 pips
Commission per Tradeper 1 lot3.5 $
Trading AssetsForexIndicesETFStocksPrecious MetalsEnergy CarriersAgricultural Commodities
Opened Positions
Leverage1:1-1:30
Margin Call / Stop Out100% / 50%
Order ExecutionECN
Demo Account
Islamic Account
RegisterRegister

The company welcomes all trading styles and allows the use of advisors.

Demo Account

There is an opportunity to open a demo account for all clients under standard conditions. Starting balance: from 200 to 50,000 in any account currency.

The number of demo accounts is unlimited.

Professional Client Accounts

Traders can apply for a Professional Client Account with Pepperstone to access enhanced features. These accounts offer higher leverage, exclusive account benefits, and eligibility for the Active Trader program, which provides cash rebates for trading. The application or reclassification process for an existing account can be completed swiftly.

Key Features of Professional Client Accounts

Professional clients at Pepperstone enjoy several key benefits:

  1. Dedicated relationship manager. Professional clients receive personalized attention and priority service from a dedicated relationship manager.

  2. Active trader program. Participation in this program allows professional clients to earn cash rebates and save on trading costs when trading in specific volumes.

  3. Higher leverage. Professional accounts can increase leverage beyond the limits set for non-premium customers.

  4. Premium rewards. There's an opportunity to earn up to £6,000 for each referral, with a maximum of £30,000 in rewards, for referring up to 5 friends.

  5. Credit facilities. Professional clients benefit from bespoke cash-in-transit facilities, credit limits, or specific margin call levels, enhancing their trading power.

  6. Large-size execution. These accounts facilitate placing larger trades in one click, offering tailored lot size options and rebates.

Considerations for Professional Clients

Before applying, it's essential to be aware of the retail client protections that will not apply to professional accounts:

  • No negative balance protection.
  • Communication using sophisticated language.
  • Assumption of relevant trading experience for product suitability.
  • No leverage restrictions.

Eligibility for Professional Account

To be eligible for a professional account at Pepperstone, individuals need to meet at least two of the following criteria:

  1. Have placed at least 10 significantly sized trades per quarter in the last year.
  2. Possess a financial instrument portfolio, including cash deposits, exceeding €500,000.
  3. Have experience working in the financial sector in a professional role with knowledge of derivatives trading for at least a year.

Spread Betting

Spread betting with Pepperstone offers a tax-efficient method for traders to speculate on the price movement of various financial instruments, including forex, commodities, and indices. Pepperstone facilitates spread betting through industry-leading platforms such as MT4, MT5, cTrader, and TradingView.

Differences Between Spread Betting and CFD Trading

Spread betting and CFD (Contract for Difference) trading are popular methods for speculating financial markets. While they share some similarities, there are key differences to consider:

FeatureSpread BettingCFDs
Tax-EfficiencyNo stamp duty. There is no Capital Gains Tax (CGT) in the UK.No stamp duty. Capital Gains Tax (CGT) liable.
Our ChargesThere is no commission; only the spread is charged.The commission is charged on CFD equity trades. Razor account: raw spread with commission. Standard account: no commission.
Other ChargesSpread is built into prices. Holding costs may apply.Holding costs may apply.
Deal SizesBets are placed in pounds per point.Trades involve a certain number of contracts.
Calculating Profit and LossCalculated as the difference between entry and exit prices, multiplied by your stake.Calculated as the difference between entry and exit prices, multiplied by the number of CFDs and the size of the contract.
Corporate Account AvailableYesYes
Currency Deal SizeAll in £, limiting foreign currency exposure risk.In the currency of the CFD, potentially involving currency risk.

Understanding these differences can help traders choose the best method that suits their trading style and objectives.

Commissions

Rating:4/5

An important aspect when choosing a broker is the structure of fees. Pepperstone does not charge a commission for account inactivity or withdrawing funds, which is a significant advantage for traders. As for trading commissions, the broker offers competitive trading conditions.

Commission per lot

Pepperstone charges a commission only on Razor accounts when trading Forex and stock CFDs. The commission depends on the chosen account currency and the type of trading platform.

Account currencyMT5 Razor / MT4 RazorcTrader Razor / TradingView Razor Commission per 1 lot
Commission per 0.01 lotCommission per 1 lot
USDUSD 0.04 USD (0.08 USD per turnover)3.50 USD (7 USD per turnover)3 USD / 3.50 USD
EUREUR 0.03 EUR (0.06 EUR per turnover)2.61 EUR (5.23 EUR per turnover)
GBPGBP 0.02 GBP (0.05 GBP per turnover)2.29 GBP (4.59 GBP per turnover)
CHFCHF 0,03 CHF (0,06 CHF per turnover)3,30 CHF (6,60 CHF per turnover)

The commission structure for Pepperstone can be considered average in the market.

Here is the commission per lot for the EURUSD pair with different Forex brokers.

BrokerVantage UKRawFxPro UKcTraderPepperstone UKRazorAdmirals UKZero.MT5IGDMA
Commission per lot$3$3.78$3.5$3$6.48

Spreads and Swaps

The main costs for a trader on a Standard account are spreads and swaps. Minimum and average spreads on major currency pairs are very attractive. They can be estimated as below the market average. As for swaps, their values can be called average.

Let's consider the spreads and swaps of the main currency pairs on Standard accounts.

AssetAverage spreadSwap longSwap short
AUDUSD1.2 pips-3.69 pips0.91 pips
EURUSD1.1 pips-6.28 pips2.29 pips
GBPUSD1.4 pips-3.36 pips-1.56 pips
NZDUSD1.4 pips-1.37 pips-1.01 pips
USDCAD1.4 pips-1.00 pips-4.88 pips
USDCHF1.4 pips6.14 pips-10.58 pips
USDJPY1.3 pips11.77 pips-25.20 pips

CFD Stock Commissions

Trading stock CFDs means trading at direct underlying exchange prices without additional mark-ups added to the bid/ask spread. Instead, you pay a small commission for each trade executed.

SharesCommission per transactionMinimum fee
US0.02 USD-
DE0.10%7 EUR
AU0.07%5 AUD
UK0.10%-
HK0.20%45 HKD

Deposit and Withdrawal

Rating:4.5/5

Pepperstone provides a secure and efficient system for managing funds. Clients can access a secure client area for all their funding and withdrawal requirements, offering a safe, secure, and charge-free experience.

Account Funding Methods

Pepperstone offers a variety of deposit options, detailed as follows:

Payment SystemCurrenciesDeposit FeeOperation Limit
PayPalPayPal
USDEURGBP
0%
from 10 to 50000 GBPfrom 10 to 50000 USDfrom 10 to 50000 EUR
Bank TransferBank Transfer
USDEURGBP
0%
VisaVisa
USDEURGBP
0%
from 10 to 65000 GBPfrom 10 to 75000 USDfrom 10 to 65000 EUR
MastercardMastercard
USDEURGBP
0%
from 10 to 65000 GBPfrom 10 to 75000 USDfrom 10 to 65000 EUR

Deposits can be made instantly with debit/credit cards or PayPal. Domestic bank transfers are processed on the same day while international bank transfers may take 1-5 working days to process.

Fund Withdrawal

Payment SystemCurrenciesWithdrawal FeeOperation Limit
PayPalPayPal
USDEURGBP
0%
Bank TransferBank Transfer
USDEURGBP
0%
VisaVisa
USDEURGBP
0%
MastercardMastercard
USDEURGBP
0%

Withdrawals take from 1 to 3 business days.

Pepperstone does not impose additional fees on deposits or withdrawals. However, clients should be aware that transfers to and from some non-UK banks may incur fees. Any transfer fees charged by the client’s bank or Pepperstone's bank will be passed onto the client. This is particularly relevant for funds transferred from outside the UK.

Markets and Products

Rating:4.5/5

Pepperstone offers trading in currency pairs and CFDs on indices, commodities, stocks, and ETFs.

The broker utilizes several tier-one liquidity providers to offer clients competitive quotes with low spreads and high liquidity across various instruments.

What markets are available?

  • 97 currency pairs;

  • 20 metals;

  • 4 energy commodities;

  • 16 soft commodities;

  • 23 stock indices from the Americas, Europe, Asia and Africa;

  • 3 currency indices;

  • 1000+ CFDs on US, UK, German and Australian stocks;

  • 100+ CFDs on ETFs from 35 countries.

Trading CFDs on stocks is available only on the MetaTrader 5 platform.

Margin Requirements

Trading InstrumentMax. Leverage for Retail TradersMax. Leverage for Pro Traders
Forex
1:30
1:500
Precious Metals
1:20
1:100
Energy Carriers
1:10
1:100
Agricultural Commodities
1:10
1:50
Indices
1:20
1:400
Stocks
1:5
1:20
ETF
1:5
1:20

Trading Platforms

Rating:5/5

Pepperstone offers a wide selection of high-quality and functional trading platforms, making it attractive to many investors.

Desktop Platforms

Clients can choose from several available trading platforms:

  1. MetaTrader 4 is the most common trading terminal for personal computers among brokers in the CIS region.

  2. MetaTrader 5 is a more powerful version of MetaTrader—all the features you use but with even greater functionality.

  3. cTrader - with its intuitive design, emulating an institutional trading environment, is perfect for those just starting trading.

MetaTrader 5
MetaTrader 5

Trading Platforms Comparison

PlatformcTraderMetaTrader 4MetaTrader 5
Web VersionYesYesYes
Android/iOSYesYesYes
150+ Trading InstrumentsYesYesYes
Algorithmic TradingYesYesYes
Strategy BacktestingYesYesYes
Customizable Charts and IndicatorsYesYesYes
Regulated Session TimingYesNoNo
Market Depth AnalysisYesNoYes
Advanced Take-Profit/Stop-Loss LevelsYesNoNo
Access to Historical DataNoYesYes
Detachable Charts for Multiple MonitorsYesNoNo
Profiles, Templates, and Passwords Stored in CloudYesNoNo
CFD Stock TradingNoNoYes

TradingView

TradingView is an advanced social network for traders and investors in financial markets. It is one of the most sought-after platforms for technical analysis, boasting many features.

TradingView
TradingView

Advantages of TradingView

The distinctive advantages of TradingView include:

  1. Data Visualization. TradingView offers flexible and quality data visualization tools that include various chart types.

  2. Social Network. TradingView has powerful social features that allow traders to exchange ideas and strategies and learn from other community members.

  3. Cloud Technology. All work is saved in the cloud so that you can access your charts, analytics, and settings from any device.

  4. Cross-Platform. TradingView works on any operating system and any device. There is also a mobile application for iOS and Android.

How to Connect Your Pepperstone Account to TradingView?

You can connect your Pepperstone account to TradingView as follows:

  1. Create a Razor account at Pepperstone to connect to TradingView.

  2. Complete the registration and fund your account. The TradingView platform will be available in the trading settings.

  3. Log into the TradingView platform and select the Trading Panel. Find Pepperstone and connect your account to start trading.

  4. Connect and authorize your Pepperstone trading account with your TradingView account by approving access.

  5. Once a successful connection is established, you can begin trading on TradingView with your Pepperstone account.

Analytics

Rating:5/5

Pepperstone boasts a well-developed analytical department that includes daily market reviews, an economic calendar, the powerful market analysis tool Autochartist, and convenient calculators for traders.

Market Reviews

Pepperstone specialists conduct daily analytics of the available trading instruments. This information is published on the broker's official website and is accessible to all users.

Market analysis from Pepperstone experts
Market analysis from Pepperstone experts

Economic Calendar

The broker's website features a dedicated section on current economic news. By using this tool, traders can promptly respond to market changes associated with financial events.

Economic Calendar at Pepperstone
Economic Calendar at Pepperstone

Autochartist

The Autochartist service is available within the Pepperstone personal cabinet. It is an automated tool that simplifies the process of technical analysis by facilitating the identification of key support and resistance levels and detecting hundreds of potential trading opportunities.

Autochartist at Pepperstone
Autochartist at Pepperstone

Calculators

Various trading calculators are also available in the trader's cabinet.

  • Pip Calculator - provides the value of a single pip based on the trade volume entered for a specific asset.

  • Margin Calculator - shows the margin required to enter a position for an asset, taking into account the account's leverage, volume, and the asset being traded.

  • Profit Calculator - displays the trading profit for an asset considering the transaction volume, the difference in the opening and closing prices, and the traded asset.

Education

Rating:5/5

Pepperstone greatly emphasizes the educational component, offering a broad spectrum of instructional materials and resources.

Trading Guides

Pepperstone provides detailed trading guides that help deepen knowledge in trading on volatile markets, help understand the risks of CFD trading and how to manage them, and help grasp the basics of FX Swap trading. These guides are designed to assist traders of all levels to trade more confidently in the financial markets.

Pepperstone Trading Guides
Pepperstone Trading Guides

Webinars

The broker regularly conducts webinars that offer clients the chance to learn from professionals and receive valuable tips and recommendations. Recordings of past webinars are also available on the broker's website.

Pepperstone Webinars
Pepperstone Webinars

Educational Videos

Pepperstone clients have access to an extensive library of educational videos that cover topics from the basic principles of CFD trading to specific aspects of trading with particular assets. These videos explain CFDs' advantages, risk management principles, liquidity's impact on trading, and much more.

MetaTrader 4 Course

For those new to the MetaTrader 4 platform, Pepperstone offers a specialized course. It covers the essential functions of MT4 and provides tips on setting up the platform for convenient use.

Forex Market Trading Course

Traders looking to deepen their knowledge of Forex market trading will find the Trader Fest 2019 helpful course. It was a unique project that offered free online webinars with top experts worldwide (this course's recordings are now available). This course will help traders at any level find their edge in Forex trading.

Pepperstone Forex Trading Course
Pepperstone Forex Trading Course

Customer Support

Rating:5/5

Pepperstone's support service provides clients with various communication channels, prompt responses, professionalism, and efficiency in problem-solving.

Operating Hours

Pepperstone's customer support operates 24/5.

How to Contact Support?

You can get in touch through the following channels:

Phone
  • +44 (800) 0465473 (UK toll free)
  • +44 203 807 4724 (International number)
Emailsupport@pepperstone.com

Additionally, you can use the online chat or WhatsApp on the website.

Reviews of Pepperstone Support

Pepperstone's tech support generally receives positive reviews for its responsiveness and effectiveness. Clients appreciate the personalized approach of the staff, which ensures that both beginners and experienced traders feel significant support in their development. The reliability of the platform and the excellent quality of customer service are often cited as key advantages.

Pepperstone Pros and Cons

Advantages of Pepperstone

  • A wide selection of trading platforms.
  • Tight spreads and favourable trading conditions.
  • Numerous regulatory licenses.
  • A large number of trading instruments, including over 600 CFDs on stocks.

Disadvantages of Pepperstone

  • Lack of diversity in types of trading accounts.

Conclusion

Pepperstone is a significant and reliable broker that offers a broad range of trading instruments and attractive trading conditions. With regulation by serious authorities, clients can be confident in the security of their funds.

The broker is suitable for various types of traders. Beginners will find extensive educational materials, including trading guides, webinars, instructional videos, and Forex trading courses. Experienced traders will also appreciate Pepperstone's opportunities, including favourable trading conditions, various trading platforms, and access to complex trading instruments.

The broker's technical support operates at a high level, offering clients quick and efficient responses to any questions.

Pepperstone is an excellent choice for traders of all experience levels. With a unique combination of educational materials, trading tools, and high-quality customer service, this broker ensures excellent conditions for successful trading.

Visit Pepperstone UK75.3% of retail investors lose money when trading CFDs with this broker
Nikolay Zavarov - Author
Nikolay ZavarovAuthor

Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.

He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018.

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