Pepperstone is amongst the largest and fastest growing online brokerage firms in Australia. They advertise that they offer raw interbank spreads with institutional grade spreads. Can they really offer such kind of service? You may continue reading this detailed review to find out the answers.
Demo Account: 1 month of free practice
After opening a MetaTrader 4 or cTrader account, you will be provided with a free demo account which will be active for 30 days. This will be pre-loaded with $50,000 virtual funds for practice trading.
Account Types: For different types of traders
There are 4 types of accounts to choose from. The Edge Standard features institutional grade STP spreads while the Edge Razor offers ultra low spreads from 0.0 pips. The Edge Swap Free is a Sharia compliant account that also features STP spreads and the Edge Active Traders is created for high volume and institutional traders.
Platform: Optimized choices
You can choose from the 11 platforms which will allow you to trade whenever and wherever you want to. There’s the industry standard MetaTrader 4 which has platforms for Windows and Mac. They also have the upgraded MetaTrader 5, the WebTrader which can be accessed on web browsers and mobile apps that can be installed on mobile devices. Another major platform type is the cTrader platform which features the cTrader WebTrader, the cTrader cAlgo and cTrader Mobile for handheld devices.
Mobile Trading: iOS and Android ready
It doesn’t matter if your mobile device is powered by Android or iOS because they have applications that can be installed on these operating systems and the good news is that most of the functionalities from the desktop platforms can also be accessed from these apps.
Minimum Lot Size: Trade with micro lots
Similar to most brokerages, users will be able to trade micro lots for as low as 0.01 which is widely accepted to be the minimum size.
Maximum Leverage: Enhance your profits!
You can open a much larger position and with the 1:500 maximum leverage you can enter into a trade for up to 500 times for every dollar or the preferred currency in your account. It is important for you to keep in mind that using leverage can be risky.
Spreads: Competitive pricing
The spreads on the MetaTrader 4 platform are variable and their quotes are resourced from over 20 major Banks and ECN’s or Electronic Crossing Networks. Even for a major pair like the EUR/USD, the spreads can hit 0.0 pips during liquid times.
Tradable Instruments: 70+ markets
Across all of their platforms, you can trade on more than 70 products which are comprised of currency pairs, indices, commodities like oil and natural gas, metals like silver and gold and even cryptocurrencies like Bitcoin.
Deposit & Withdrawal/Support
Minimum Deposit: Higher but…
The required minimum deposit to register for an account to be able to trade is $200. While this is a tad higher compared to the requirements of other known brokers, it’s actually not that much of an issue if you’re serious in trading.
Deposit Methods: A diversity of options
Amongst the supported payment methods you can use are credit or debit Cards, PayPal, POLi, China UnionPay, Banc Transfer (Domestic and International), BPay, Skrill (Moneybookers), Neteller, Qiwi, Fasapay and even broker to broker.
Withdrawal Processing Time: Immediate
For withdrawals, a form must be accomplished and sent to them by 21:00 GMT (07:00 AEST) for it to be processed within the same day. If it was submitted after the cutoff time, the processing will be done on the next working day.
Channels: Take your pick
They have a phone support, email support and live chat support.
Availability: All day and night
All channels are available 24 hours a day so you can get in touch with their agents during your preferred time.
Supported Languages: Multi-lingual
You can get in touch with them via a number of languages. They have agents that speak English, Spanish, Russian, Chinese, Korean, Vietnamese, Arabic, Thai, Indonesian, Italian, French, Lao, German, Malaysian and Polish.
Average User Rating: 9.1
This score was provided by various users and its value is taken from the accumulated votes that were given by actual traders who have tested this broker.
Platform Design: Well-optimized for all types of traders
All of their platforms have been well-optimized so regardless if you’re a novice or an advanced user, you will be able to access them with ease.
Support: Highly personalized customer service from well-trained experts
Aside from being available 24 hours a day, the personalized customer service experience that they provide is highly commendable.
Reputation: Award-winning brokerage and known for institutional grade trading
This investment company has won numerous awards in the forex trading industry and is also recognized for providing institutional grade spreads and trade execution.
Editor’s Rating: 90
Pepperstone has a selection of advanced platforms which will allow you to execute your trades quickly and more efficiently via their smart tools and excellent trading conditions. Aside from their impressive company background, their institutional grade pricing and personalized customer service gives them the edge over their competition.