Forex trading has been around for centuries and can be used reliably to create one’s investment portfolio. In 1875 it was called gold standard then it was changed to Bretton Wood System, currently it is referred to as forex trading or currency exchange or simply FX.
When starting on in FX, it is important to search for a trusted forex broker or firm that provides a free demo account, provides access to the 24 hour forex market, is regulatory compliant, offers a wide variety of paired currencies, and offers 24 hours customer service.
These requirements must be met fully for a firm to be considered as a viable trading option. Today, there are many options available for traders and Pepperstone is among those options.
Pepperstone Forex Broker Review
Pepperstone is an Australian-based CFD and forex broker that was established in 2010 and is an ideal trading firm for new and veteran traders. Pepperstone uses technology to curb below average customer support, delays in executions, and excessive spreads. These issues have plagued most online forex brokers and in return have frustrated many traders.
Pepperstone’s mission is to be an industry leader and work towards meeting traders’ online currency exchange needs in more than 65 countries. In 2017 this firm opened another branch in London, United Kingdom.
Compliance and Regulation
In Australia, Pepperstone is regulated and licensed by ASIC (Australian Securities and Investment) under the AFSL (Australian Financial Services License) #414530. In London, UK, the company is regulated by the FCA (Financial Conduct Authority), registration ID 684312. These regulation bodies ensure this trading firm is held accountable. Over the years Pepperstone has met all the mandatory requirements by these regulatory bodies.
The company, also, keeps the traders funds and its operational funds in segregated accounts.
With Pepperstone, clients have access to three trading platforms:
- MetaTrader 4 and Metatrader 5
cTrader is an ECN platform that was developed by cTrader limited and has become a popular platform for forex brokers. It accomplished two functions: one is to provide a complete list of chart analysis, and the other is to provide ease in implementation of trades. Its features include:
- Support for Algos
- Level II pricing
- Presentation of trading sessions
- Proxy connection
MetaTrader 4 and Metatrader 5
This platform is the standard trading platform in the FX industry. More than 90% of forex have implemented it and it is easily customizable and versatile. MetaTrader4 features include:
- MT4 Mac
- MT4 Android
- MT4 Desktop
- MT4 iOS
- MT4 Webtrader
PAMM (Percent Allocation Management Module)/ MAM (Multi Account Manager) is a platform that is designed to handle multiple trading accounts. Its key features include:
- It supports EA trading
- Produces reports yearly, quarterly, and monthly
- Monitors performance and commissions in real time
- Allows block trading
Pepperstone provides 4 divergent trading accounts. These are:
- The Razor Account, (available for cTrader and MT4)- This account allows hedging, scalping, EAs, several currencies (NZD, USD, AUD, JPY, CHF, SGD, GBP)
- Standard Account- it enables interbank spreads, STP processing, no commission.
- Swap Free Account- Allows minimum deposit of $200 AUD, four currencies (EUR, AUD, USD, SGD), EAs allowed, zero commission, hedging and scalping allowed.
- Active Traders Account- This account enables VPS hosting services, advanced reporting, segregated customer account, and has a relationship manager
Pepperstone Spreads, leverage, commissions, and margins
All trading instruments available on MT4 allow commission-free trading. Pepperstone provides leverage of up to 500:1, spread starting 0 pip and the margin starts at 0.20%. Some of the markets offered at this firm include oil, precious metals, forex, and indices trading.
Accounts available in this Australian forex broker include:
- Islamic accounts
- Individual account
- Trust and corporate account
- Superfund and self-managed accounts
- Joint accounts
Deposit and withdraw options
Pepperstone offers traders several options to fund their accounts. These options are: Bank wire transfer, PayPal, Skrill, B2B, Neteller, China Union Pay, POLi, BPay, FasaPay, and various credit cards.
For 5 days a week, Pepperstone guarantees their clients 24-hour support with localized support in London, Dallas, Shanghai, and Bangkok.
Pepperstone’s founders, Joe Davenport and Owen Kerr, were awarded the EY Australian entrepreneur of the year in 2015. Other awards include 2016 Investment Trends winner, Governor of Victoria Export awards in 2017, Deloitte 2013 Technology Fast 50 award.
Pepperstone continues to be a leader in the forex trade industry because of their adherence to regulations, value for money, customer service, reliability, spreads and commissions, and execution speed. With this firm you are assured of the safety of your funds and help will be readily available whenever you need it.