Pepperstone Review

Author By Jeffrey Cammack
Updated: May 19, 2022
Overall Rating
4.61 4.61 / 5
Rated #3 of 68 Recommended Brokers
šŸ¦Ā  Min. DepositUSD 0
šŸ›”ļøĀ  Regulated By
šŸ’µĀ  Trading CostĀ 
USD 7.70
āš–ļøĀ  Max. Leverage200:1
šŸ’¹Ā  Copy Trading
šŸ–„ļøĀ  Platforms
šŸ’±Ā  Instruments
AlertAccepts South African Clients. Average spread EUR/USD 0.77 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 200:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone Group is regulated by the FCA, ASIC, and the DFSA.

TradeForexSA follows a strict editorial standard in our review process. We may receive compensation when you click on links to products we review. Please read ourĀ advertising disclosure.

Our verdict on Pepperstone

One of our highest rated brokers for South African traders, Pepperstone was founded in Australia in 2010 and is globally renowned for its low trading costs and choice of trading platforms. Pepperstone keeps costs low with some of the tightest spreads weā€™ve seen, averaging 0.69 pips (EUR/USD) on its Standard Account. For those who prefer classic ECN trading, the Razor Account has low commissions and spreads averaging just 0.09 pips on the EUR/USD. Neither account has a required minimum deposit.

Despite the low costs, we are disappointed with Pepperstoneā€™s complicated commission structure and lack of FSCA regulation. But more experienced traders will appreciate Pepperstoneā€™s trading platform options, including MT4, MT5 and cTrader. All are available on desktop and mobile devices. Pepperstoneā€™s education section is not the most extensive weā€™ve seen, but it is competent and well-structured, making it a good place to start for beginner traders.Ā 

Reviews

Regulation
11110.54.5/ 5
Trading Conditions
111115/ 5
Trading Platforms
111115/ 5
Deposit & Withdrawal
111104/ 5
Education & Research
11110.54.5/ 5
Assets Available
11110.54.5/ 5
Customer Service
11110.54.5/ 5
Beginner Friendly
Excellent
Welcome Bonus

Account Information

Base Currencies
EUR, GBP, USD, AUD, NZD, JPY, CHF, SGD, HKD, CAD
Number of FX Pairs
60
Crypto Pairs
19
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Account Name
Razor
Trading Desk
Commission
From 7 USD / lot - Razor Account
EUR/USD
0.09 pips
GBP/USD
0.28 pips
USD/JPY
0.14 pips
Negative Balance Protection

Company Details

Company Name
Pepperstone Markets Kenya Limited
Founded
2010
Website Language
English, Vietnamese, Thai, Chinese, Polish, Arabic, Spanish
Support Language
English, Vietnamese, Thai, Chinese, Polish, Arabic
Office Locations
Australia, UK, Germany, Bahamas, Dubai, Kenya, Cyprus

Pros

  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets

Cons

  • Limited market analysis

Is Pepperstone Safe?

Yes, Pepperstone is a safe broker for South African traders to trade with. Although Pepperstone is not regulated by the South African FSCA, it has a long history of responsible behaviour and strong international regulation.

Regulated in Kenya: On signing up, we found that South Africans are onboarded through Pepperstoneā€™s Kenyan-based entity, regulated by the Capital Markets Authority (CMA).Ā  This seems to be a recent development, as South Africans were still onboarded through ASIC as of June 2021:

Unfortunately, the CMA is not as good a regulator as the FSCA or ASIC, which means that South Africans will not be as well protected.

Safety Features: Pepperstone has a reputation for treating its clients fairly and holds licences from many excellent regulators from around the world. It also provides all clients with negative balance protection which means that traders cannot lose more than their initial deposit. On this basis, we consider Pepperstone a safe broker to trade with.

Company Details:

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Group Regulators
Trading Desk
Website
Year Founded
Office Locations
Additional Fees
FCA
ASIC
CySEC
DFSA
BaFin
SCB
CMA
2010
Australia, UK, Germany, Bahamas, Dubai, Kenya, Cyprus
20 USD Withdrawal Free

Pepperstoneā€™s Financial Instruments

On top of 60+ Forex pairs, Pepperstone has cryptocurrency pairs and currency indices that are hard to find at other brokers. But we were disappointed to find that Pepperstone has fewer shares to trade than most other large brokers.Ā 

Pepperstone offers a similar range of instruments as other brokers but offers a wider range of Forex pairs and cryptocurrencies, including the ETH/BTC cross-pair. Now that South Africans are onboarded through Pepperstoneā€™s Kenyan-based entity, regulated by the CMA, leverage has increased to 400:1 on major Forex pairs from 30:1 through ASIC regulation.Ā 

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Financial Instrument
Number of Assets
Leverage
Commodities
17
200:1
Cryptocurrencies
19
10:1
Stock CFDs
900
10:1
ETFs
100
200:1
Forex
60
200:1
Indices
25
200:1
Metals
11
200:1

Forex: Pepperstone offers 60+ currency pairs for trading, more than most other Forex brokers.

Share CFDs: Pepperstone offers 900+ share CFDs, including 600+ US stocks as well as a selection of UK, German and Australian blue chips. Note that share CFDs are only available on the MT5 platform.

Commodities: Pepperstone offers 24 commodities, including gold, silver, platinum, petroleum, natural gas, and softs such as coffee, cocoa and orange juice.

Indices: Pepperstone offers trading on 23 indices including the likes of the NASDAQ, FTSE100, DAX30, Hang Seng and even the Johannesburg Stock Exchange.

Cryptocurrencies: Pepperstone has 17 crypto pairs, including ETH/BTC cross, and 3 crypto baskets available for trading. Leverage on cryptocurrency trading is limited to 2:1, but crypto trading is available 7 days a week.

Currency Index CFDs: Currency indices track the value of a currency against a basket of other currencies. This differs from a currency pair in that there must be more than one other currency that the main currency is being measured against. Currency indices available include the USD index, EUR index and JPY index.

Accounts and Trading Fees

Pepperstone has two accounts with very low trading costs compared to other brokers, and neither trading account has a required minimum deposit. Commissions on the Razor Account were difficult to determine as they are calculated differently on each of the three trading platforms.

Trading Fees: Neither the Standard Account nor the Razor Account has a required minimum deposit, though we recommend starting with a minimum of 200 USD to avoid margin calls. Trading costs on both accounts are much lower than most other brokers.

Account Trading Costs:

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Trading account
Min. Deposit
Min. Spread EUR/USD
Commission
Trading Cost (USD)
cTrader Razor
USD 0
0.09
7 EUR / lot
7.49
MT5 Razor
USD 0
0.09
7.53 USD/ lot
7.09
MT4 Razor
USD 0
0.09
7 USD / lot
7.61
Standard
USD 0
0.69
Spread Only
6.9
Swap-free
USD 0
1
Spread Only
1.0

As you can see from the table above, the trading costs on the Standard Account are built into the spread and are slightly lower than the costs on the Razor Account, which has a small commission that changes depending on which trading platform you use. Commissions are also affected by the base currency of your account on the MT4 and MT5 platforms and what currency pair you are trading on the cTrader platform.

Tight spreads on Forex pairs: Pepperstone also offers tight spreads on all other major pairs, including the GBP/USD, USD/JPY, AUD/USD, and USD/CHF. As with the EUR/USD above, the costs in the table below are based on the trading fees of one lot (100 000 USD), including the spread and commission. The following spreads are based on the Standard Account and were taken directly from the MT4 platform:

Spreads on Major Forex Pairs:

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Major Forex Pair
Spread
Broker Trading Cost
Industry Average Trading Cost
AUD/JPY
1.00 pips
USD 10
USD 20
AUD/USD
0.60 pips
USD 6
USD 14
EUR/GBP
1.00 pips
USD 10
USD 15
EUR/JPY
1.00 pips
USD 10
USD 18
EUR/USD
0.60 pips
USD 6
USD 10
GBP/USD
0.60 pips
USD 6
USD 15
USD/CAD
0.60 pips
USD 6
USD 17
USD/CHF
0.60 pips
USD 6
USD 16.20
USD/JPY
0.60 pips
USD 6
USD 12.30

Pepperstone Standard Account

This commission-free trading account has no minimum deposit requirement. Costs are included in the spreads, which average at 0.69 pips on the EUR/USD. This account is one of the lowest-cost trading accounts in the world and is especially good for beginner traders who do not want to spend time calculating commissions.Ā 

Pepperstone Razor Account

The Razor Account is Pepperstoneā€™s raw spread account and has no required minimum deposit. Spreads average at 0.09 pips on the EUR/USD ā€“ which is the lowest average spread we have found at ANY broker ā€“ and a commission is charged per lot traded. Commissions change depending on your trading platform, the base currency of your account, and your trading volume. We confirmed this spread on the cTrader platform:

Pepperstone Spreads

Razor Account Commissions

MT4 and MT5: Commissions on the MT4 and MT5 Razor Accounts are charged in the base currency of your account. When we opened our account, we noticed how cheap the commissions are for traders with an AUD base currency. Given that (as of May 2022) the USD/AUD is currently at 1.41, the commission cost per lot with an AUD base currency is the equivalent of 4.98 USD ā€“ a saving of around 2 USD per lot when compared to an account with a USD base currency.

cTrader: The commission structure for cTrader Razor Accounts is based purely on what currency pair you are trading. The cTrader Razor Account commission is always 0.007% (round turn) of the base currency thatā€™s being traded. So, if youā€™re trading 100,000 USD/CHF the commission will be 3.50 USD to open the trade and 3.50 USD to close the trade.

Active Trader Program

Trading commissions can be further reduced by becoming a member of Pepperstoneā€™s Active Trader Program. The Active Trader Program has several advantages for high volume traders, including discounted commissions, a free VPS service and priority customer support. The commission discount with the Active Trader Program features 4 tiers as follows:

Pepperstone Active Trader Table

For more information about tier 4 of the Active Trader Program, traders should contact Pepperstone customer support.

Deposits and Withdrawals

Pepperstone generally charges no deposit and withdrawal fees, though it does lack transparency when it comes to funding methods and costs. And South African traders will be disappointed that all ZAR deposits and withdrawals are subject to conversion fees.

As a well-regulated broker, Pepperstone ensures that all Anti-Money Laundering rules and regulations are followed, and as such, all non-profit withdrawals are returned to the deposit source.Ā 

Accepted Deposit Currencies: Accounts can only be opened in USD or GBP. Because the South African Rand is not one of Pepperstoneā€™s accepted base currencies, South African traders with ZAR bank accounts will have to pay currency conversion fees.Ā Pepperstone charges currency conversions at the current spot rate, minus a conversion fee of up to 1 per cent, which is relatively high.Ā Many other international brokers, such as HotForex and Exness offer ZAR trading accounts and local funding options.

Pepperston Base Currencies

Funding Methods and Fees: Pepperstone offers a range of fee-free deposit and withdrawal options; however, a fee of 20 USD is charged by Pepperstone for international bank transfers; and withdrawals through Skrill or Neteller cost 1 USD.Ā Ā  We tested deposits via credit card and found that our payment was processed instantly. It took 2 days for us to withdraw our money, which is around the industry average.

See below for a complete list of payment options and withdrawal times:

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Funding Method
Base Currency
Deposit Fees
Withdrawal Fees
Processing Time
Bank Transfer
AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD
FREE
20 USD
Deposits and withdrawals can take between 3 ā€“ 5 days
BPay
AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD
FREE
FREE
Deposits are instant and withdrawals can take between 3 ā€“ 5 days
Mastercard
AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD
FREE
FREE
Deposits are instant and withdrawals can take between 3 ā€“ 5 days
Neteller
AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD
FREE
1 USD
Deposits are instant and withdrawals can take between 3 ā€“ 5 days
Paypal
AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD
FREE
FREE
Deposits are instant and withdrawals can take between 3 ā€“ 5 days
POLi
AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD
FREE
FREE
Deposits are instant and withdrawals can take between 3 ā€“ 5 days
Skrill
AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD
FREE
1 USD
Deposits are instant and withdrawals can take between 3 ā€“ 5 days
Unionpay
AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD
FREE
1 USD
Deposits are instant and withdrawals can take between 3 ā€“ 5 days
Visa
AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD
FREE
FREE
Deposits are instant and withdrawals can take between 3 ā€“ 5 days

Pepperstoneā€™s Mobile Trading Apps

Pepperstone does not have its own trading app, but MT4, MT5 and cTrader are all available as mobile apps. We found the cTrader app easier to use than MT4 and MT5 as it has a more modern design.

All three of Pepperstoneā€™s trading platforms are available on both Android and iOS mobile devices and tablets. Beginner traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, and poor mobile connections seriously impact trading.

cTrader App

cTrader is one of our favourite trading platforms and Pepperstone is one of a handful of brokers that supports it. Its clean design makes it easy for beginners to pick up, but it also has the advanced order types and automation options required by more experienced traders. The Pepperstone cTrader app keeps most of the best parts of the desktop version, including the complete range of order types, price alerts, trade analysis and symbol watchlists. Chart types have been reduced to 4, however.

MT4 and MT5 Apps

The Pepperstone MT4 and MT5 apps allow traders to work from anywhere, with nine timeframes, 30 indicators and interactive currency charts. Functionality to close and modify existing orders, calculate profit/loss in real-time and tick chart trading further assists traders while on the move.

MT4 Mobile indicators

Pepperstoneā€™s Other Trading Platforms

With MT4, MT5 and cTrader all available, Pepperstone offers support for more trading platforms than most brokers.Ā 

Pepperstone offers traders MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader; each of which offers Expert Advisors, automated trading support, strategy backtesting, customisable charting, indicators, and copy trading functionality.

All platform choices are free to use, all can be downloaded to your PC or Mac, and all have web versions of the platform. Traders who want more EAs to use, and donā€™t mind the dated interface, should consider using one of the MetaTrader products. cTrader is often a favourite for beginner traders as it requires less setup, has a more modern interface, and offers more advanced order types.

All three trading platforms offered are considered among the best in the industry and all three provide access to Autochartist, one of Pepperstoneā€™s range of free trading tools. While Pepperstone does not have its own proprietary platform, which is usually easier for beginners to learn, the choice of any of the three major platforms will keep most traders satisfied.

Trading Platform Comparison:

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Broker
Platform Choice
Copy Trading
Platforms
Blackstone Futures
11110.54.5/ 5
Cloud Trade
IC Markets
111115/ 5
Zulu Trade

Opening an Account at Pepperstone

Opening an account at Pepperstone is a fully digital process but does require a suitability assessment that is not carried out by many other brokers

All South Africans are eligible to open a trading account at Pepperstone but will have to follow the fully digital four-step application process. Once the process is complete, Pepperstone aims to approve applications within 4-8 hours.

How to open an account at Pepperstone:

  1. Create your login via the Pepperstone website, you will be asked for your email address and asked to choose a password.
  2. The second step is to take the Pepperstone suitability test. This short questionnaire is used by Pepperstone customer service to assess whether trading CFDs is appropriate for you. While most brokers donā€™t include this step in the account-opening process, it is a responsible move in an industry that is often accused of an irresponsible approach to consumer protection.
  3. The third step is to confirm your identification. Pepperstone will need two ID documents from you, the easiest way to provide these documents is to take a photo of them with a mobile phone:
    1. A photo ID (passport, driverā€™s license or South African ID card) and;Ā 
    2. A secondary ID (a bank or utility statement with your full name and address dated in the last three months).
    3. Important: Pepperstone will not accept ID documents that are black and white images, scanned copies, blurry or damaged.
  4. Once your application is approved, you can log in and fund your account in the base currency of your choosing. For more on Pepperstoneā€™s base currencies, click here.

Compared to other similar brokers, Pepperstoneā€™s account opening process is fast, generally hassle-free and fully digital. The only issue that some traders may have is the suitability assessment test, though this is a responsible move on Pepperstoneā€™s part that protects the funds of those unsuited to high-risk investments.Ā 

Pepperstone Trading Tools

Pepperstoneā€™s trading tool options are above average when compared to similar brokers, with free Autochartist for all traders and Smart Trader Tools for MT4 and MT5.

Smart Trader Tools for MetaTrader4/5

At Pepperstone, MT4 and MT5 traders can benefit from this dedicated suite of 28 tools, expert advisors, and indicators.Ā  Smart Trader Tools help traders manage their risk, control all trades from a single terminal and view the correlations between currency pairs and other CFDs. The full set of tools includes sophisticated alarms and broadcast facilities, with up-to-date market data and functions integrated within the MetaTrader interfaces.Ā 

Autochartist

Free for all Pepperstone clients, Autochartist is an award-winning automated technical analysis tool that plugs into MT4, MT5 and cTrader and scans all available CFD markets for trading opportunities. Autochartistā€™s advanced pattern recognition engine identifies the strongest potential trading opportunities and predicts future price movements.

TradingView

Pepperstone recently added TradingView to its arsenal of trading tools.Ā  TradingView is free of charge for traders who open a live account. Ā It is an excellent tool for researching, charting, and screening any instrument. Ā Additional features of Pepperstoneā€™s TradingView tool include:

  • 50+ intelligent charting tools
  • Over 100,000 custom user-built indicators and scripts
  • Synchronised layout for multiple charts

API Trading

Pepperstone supports trading via its Application Programming Interface (API).Ā  This technology is ideal for those using trading systems or developing their own custom-built system.Ā  It allows an increased ability to see the depth of market and access to multiple liquidity providers.

Discounted VPS Services

Via two third-party companies (ForexVPS and New York City Servers), Pepperstone offers a discounted VPS (Virtual Private Server) service for traders using the MT4 and MT5 platforms. VPS hosting allows traders to run automated algorithmic strategies, including expert advisors 24 hours a day 7 days a week on a virtual machine.Ā 

Both ForexVPS and New York City Servers have dedicated 24/5 customer support teams that can help new users get set up and install EAs and indicators directly to the virtual machines. VPS services have the advantage of never suffering connectivity issues and have extremely low latency due to their proximity to major international exchanges.

Pepperstone Social Trading

While Pepperstone does not offer a dedicated social trading platform, it offers support for both the Metatrader Signals marketplace and Duplitrade, a popular third-party trading strategy marketplace that allows you to automate your trading by following proven expert traders.Ā 

While MetaTrader Signals can be followed by anyone using the Metatrader platform, the Duplitrade copy trading system is only accessible through Pepperstone with a 5000 USD (or equivalent) minimum deposit.

Pepperstoneā€™s Education

Pepperstoneā€™s education section is better than most other ECN brokers but falls short of the best education available at some of the large market maker brokers.

Demo Account: Pepperstone offers an unlimited demo account allowing prospective traders to practice trading in real-time.Ā  New traders can also explore the full suite of customisable tools and features that the MT4, MT5, and cTrader platforms offer to enhance trading performance.Ā 

Educational Resources: Pepperstone offers various educational resources, including free trading guides, articles on how to trade Forex and CFDs, various courses, and videos.Ā  Its guides cater to beginner, intermediate, and advanced traders.Ā  It also hosts regular webinars, and archives of previous webinars are available for free on its website. Trading guides cover topics such as ā€˜the Psychology of Placing Your First Tradeā€™, Forex Trading Basics and how Forex trading works, and introductions to various trading strategies.Ā  It also offers MetaTrader4 and Forex trading courses.Ā 

Webinars: Weekly webinars pick up where the structured education stops, with more detailed strategy sessions led by expert traders. The webinar subjects vary from trading strategies to technical and fundamental analyses.Ā  Note that to access the live webinars, one has to register a Pepperstone account.

Education Comparison:

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
Pepperstone
Medium
Blackstone Futures
Medium
IC Markets
High

Pepperstoneā€™s Market Research and Analysis

Pepperstoneā€™s market analysis is less frequent than many other large international brokers, but the quality is excellent and available in both video and text.

Analysis Blog: The in-house Pepperstone research team runs a regular blog covering both fundamental and technical analyses. The research provides information on market-moving events outside of conventional news sources.Ā  The research team also provides a ā€˜Daily Fixā€™ ā€“ a day-to-day analysis of events affecting the markets.Ā 

FX Evolution Webinars: Market analysis and trade ideas are available in both video and text form and the quality is invariably high and useful for traders of all experience levels. In addition, Pepperstone has partnered with FX Evolution to deliver fortnightly webinars on a range of topics based on both technical and fundamental analysis.

Research Comparison:

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
Pepperstone
IC Markets

Pepperstone Customer Support

We were impressed that Pepperstone offers 24/7 support, which is unusual for an industry where the norm is 24/5.Ā 

Pepperstoneā€™s award-winning 24/7 customer service is available to help answer questions, should you need assistance with either technical or account-based queries. For the purposes of the review, we tested the live chat services. The live chat agents were responsive and highly knowledgeable. As you can see, they responded to our questions within a matter of seconds:

Pepperstone customer support

Regulation and Industry Recognition

Although Pepperstone is not regulated by the South African FSCA, it has a long history of responsible behaviour and strong international regulation, making it a safe broker for South African traders to trade with.

Regulation: Pepperstone is regulated by the Australian Securities and Investments Commission (ASIC), the UKā€™s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Dubai Financial Services Authority (DFSA), the Capital Markets Authority (CMA) of Kenya, the Securities Commission of the Bahamas (SCB), and the Federal Financial Supervisory Authority (BaFin) of Germany. See below for a list of Pepperstone registered companies:

  • Pepperstone Pty Ltd is ASIC regulated with licence number 414530.Ā 
  • Pepperstone Ltd is regulated under registration number 684312 by the FCA.
  • Pepperstone Markets Limited is licensed and regulated by the Securities Commission of The Bahamas, license number SIA-F217.
  • Pepperstone EU Limited is regulated by CySEC, licence number 388/20.
  • Pepperstone is regulated by the DFSA under license number F004356.
  • Pepperstone is regulated by the CMA Kenya under licence number 128.
  • Pepperstone is regulated by BaFin, Germany, under registration number 151148.

Awards: Pepperstone has won many awards in the industry, substantiating its credentials as a safe broker.Ā  Some recent awards include:

  • Best Forex Broker 2021 (Daytrading.com)
  • Best Tailored Professional Trading Conditions 2019/2020 (Professional Trader)
  • Best Trading Performance Tools 2020 (Professional Trader)
  • Best Global Forex ECN Broker Award 2019 (Global Forex Awards)Ā 
  • Best Forex Trading Support ā€“ Europe 2019 (Global Forex Awards).

With over a decade of responsible behaviour to its clients, a large international customer base, regulation from some of the strictest authorities in the world, and a long list of awards, we consider Pepperstone a reliable and safe Forex broker.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Pepperstone offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker, and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

XM Scores

Pepperstone Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Pepperstone would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.8% of Pepperstone Limitedā€™s retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overview

Pepperstone is an internationally recognised CMA regulated broker with high-speed trading execution and a low-cost trading environment for beginners that most ECN brokers donā€™t have.Ā  With all three of the major third-party trading platforms and very low spreads compared to most other brokers, Pepperstoneā€™s clients have both the best available technology and the best available trading conditions that have earned Pepperstone its reputation.Ā  With good education and market analysis sections, and a decent selection of trading tools, Pepperstone should be a top choice for South African Forex traders looking for a low-cost and reliable ECN broker.

AlertAccepts South African Clients. Average spread EUR/USD 0.77 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 200:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone Group is regulated by the FCA, ASIC, and the DFSA.
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