Pepperstone (Pepperstone.com) is an ASIC regulated broker with a ton of experience behind them. Pepper Stone is one of the leading brokers in Australia and has been hailed as an experienced platform. When it comes to trade executions, the speed is impressive to say the least. Most members are happy with the platform but there are some small issues. Read this genuine and honest PEPPERSTONE Review for the whole details.
The website is global and owned by Pepperstone group Ltd. They offer a partnership program that enables traders expand their trading portfolio. Some of the features include cutting edge marketing tools and unparalleled rebates. Traders are also promised a dedicated support team that is there to answer any queries. The platform has one of the highest client satisfactions rating in the region. And this is one of the many reasons why traders use this one of a kind platform.
Pepperstone is a platform that was founded in 2010 in Melbourne Australia. They provide traders with a genuine commitment and low-cost spreads. The platform has over 57,000 traders worldwide and is an award winning broker. They are able to process an average of $9.2B of trades daily making them one of the largest brokers. The sign up process is easy and fast and takes less than five minutes. With committed and dedicated brokers, your chance of making it increases by the day. Traders also get to trade safely thanks to the experience brokers provide.
Pepperstone is offering CFDs, Commodities, Cryptocurrencies, and Forex. Commodities listed include XAU/USD, XAG/USD, XPT/USD, XTI/USD, and XNG/USD. Cryptocurrency assets include Bitcoin, BitcoinCash, Dash, Etherium, and Litecoin. Forex trading commodities include EUR/USD, AUD/USD, EUR/GBP, USD/JPY, and USD/CAD. Indices listed include AUS200, US500, UK100, GER30, and JPN225. These are the available trading assets found on the platform.
When it comes to accolades, the platform has been awarded several awards. In 2016, they were awarded the Australian FX Investment Trend Report Winner award. The award recognized their platforms ability to execute trades and ease of use. In 2017, the platform received the Governor of Victoria Export awards. The platform was recognized for giving exceptional local and international trading services. In 2019, they received the Professional Trader Award thanks to their professional tailored trading solutions.
Disadvantages of Pepperstone
The client managers have been unprofessional when dealing with newbie traders. Newbie traders who give control of their accounts to these account managers end up losing. And this is attributed to these account managers who are in league with other rogue entities. The account manager with Pepperstone is likely to lose your money. Only way for these account managers to make profit is when members lose money. When it comes to trading with this platform, don’t give control of your account.
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The domain details match what the platform claims; they have been in the industry for a while. We took a look at the domain register whois.net to confirm their trading history. Pepperstone.com was created on 20th January 2002. The platform has been trading in the industry for more than 18 years. When it comes to a reliable trading platform you have to be careful. It is best to use reliable and reputable Forex trading robots as well when it comes to safe trading.
Pepperstone Group Limited is a company which has been license and regulated by authorities. The Australian Securities and Investment Commission is the body that licensed Pepperstone. Their ACN number is 147 055 703. Their former trading name was Pepperstone Finance PTY Ltd. You can check with the ASIC register to confirm the details. With a registered platform, members are guaranteed of a safe trading experience. These are certified brokers who know what they are doing.
A problem we have with their website is they claim to be regulated by the FCA. A closer look at the official Finance Conduct Authority register shows no platform is licensed under their name. Why would they claim to be licensed by the FCA and yet, have no proof? And this is a problem as ASIC does not allow licensed entities to offer trading services elsewhere. The platform is offering services in a jurisdiction not acceptable by ASIC. Pepperstone has crossed the line with their FCA license claims which is false.
Pepperstone is furnishing traders with two account types to choose from. Accounts listed include Razor and Standard. These accounts come with institutional grade spreads and roller swaps. Standard account is best for new traders while razor account best suits scalpers and algorithmic traders. They all come with a minimum 0.01 lot size and a leverage of 500:1. Minimum account opening balance is AUD$200 which is below the industry recommended US$250. These accounts don’t come with dealing desk execution.
The platform comes with a 24/5 support team that does not include live chat. A trading website that is mindful of traders should have 24/7 live support. Pepper stone is using email and phone numbers for contact. The problem with emails is they take long before any meaningful response is seen. When it comes to making calls, the process may be hectic and bear no fruit. Members have been complaining of one single phone number available which is ever busy. With all their years of trading experience, they should have live chat support.
New members can try out the trial version of a demo account available with the platform. With a demo account, you get to know how well a platform works. Smart traders try out the demo account first before committing to a real account. These are ways to ensure you get to find out the execution speed and spread available. The problem with their demo account is it gives a limited time trial. 30 days is not enough for newbie traders to fully grasp every detail regarding trading.
When it comes to opening an account, the process is easy and takes less than five minutes. The process involves filling in your personal information. Members have to confirm their ID by sending copies to the platform. We are not sure whether their channel is secure, since there have been no complaints. The last step is to fund the account and start trading. And this is where members face another challenge as the platform does not mention payment methods.
Pepper stone is not giving visitors any indication of the payment methods available. We did reach out to a few members who claim they deposited through a bank account. It would have been ideal if the platform offered common depository channels. The most common include MasterCard, Neteller, Skrill, and Visa. Why they fail to inform traders about the depository channels remains a mystery. They also fail to inform members about the withdrawal procedure and time.
The have the trusted MT4 and MT5 trading platform available. Pepperstone also comes with cTrader platform which is best for institutional trading environment. The MT4 and MT5 trading platforms are compatible with all devices and are quick. Advanced tools available help traders get the best out of online trading. Tools to look out for include API trading, Autochartist, and cTrader.
Even though the platform claims to be licensed by ASIC, they do have some issues. ASIC nearly deregistered the platform after they offered services outside their jurisdiction. The platform has been known to cross the line with other regulatory bodies. When they claim to be regulated by FCA, they want to target the European market. The platform will not safeguard funds from European investors. It is best to stay away from it.
The platform is legit since they have been licensed by ASIC. Only problem is high leverage and claiming to be FCA regulated.
We will be adding this platform to our scam blacklist and ensure no one else falls for this trap.
Wishing traders a happy and prosperous trading experience.
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