In our final verdict, Pepperstone earns a high rating of 98/100, thanks to its low spreads, fast execution speeds, and robust tier 1 regulation. Pepperstone stands out by avoiding hidden costs like funding and inactivity fees. With fee-free funding options and no minimum deposit, Pepperstone ranks as a top-value broker overall. There is no minimum deposit to open a Pepperstone account, but the broker recommends that you deposit at least 200 USD/AUD or 500 GBP/EUR. Regardless, you must ensure that your account has sufficient funds to meet the margin requirements for opening a trading position.

Learn to Trade

Investopedia’s ranking algorithm factored in these attributes in declaring Pepperstone as the Best Forex Broker for Trading Experience in 2020. For the Pepperstone review, our team adhered to our strict methodology for evaluating forex fees. This entailed a detailed examination of Pepperstone’s published fee data and conducting live trading tests to assess the actual costs. Pepperstone’s educational materials cover a wide range of topics, suitable for traders at every level.

Mobile Offering

Pepperstone’s demo accounts, lasting for 60 days and offering up to $50,000 virtual funds, are available on platforms such as MT4, MT5, cTrader, and TradingView. Yes, Pepperstone offers spread betting, exclusively for traders based in the United Kingdom. This form of derivatives pepperstone forex trading allows UK clients to speculate on the price movements of financial instruments without directly owning them. Pepperstone offers two pricing options, a Razor Account with low spreads and commission, or a Standard Account with no commissions but higher spreads.

Commissions and fees

Despite offering a smaller selection of FX pairs than Pepperstone, at around 50, it stands out with its best-in-class tools, notably the AI-powered economic calendar. Yes, Pepperstone is an NDD broker and depends on the competitive spread to earn profits. Pepperstone uses multiple liquidity providers to ensure high-speed order execution and external pricing sources to provide clients with competitive quotes. Pepperstone offers competitive swap rates and low commissions, making them very inexpensive in terms of client trading costs. As with the trading platform, traders with Pepperstone can choose from the MetaTrader 4 (MT4), MetaTrader 5 (MT5) or cTrader mobile apps. Again, as with the trading platform the breadth of apps on offer is a positive, but once more as with the trading platform we would prefer to see Pepperstone offering their own mobile trading app.

Trading Platform

Pepperstone’s cTrader has four basic order types with the option of attaching “take profit” and/or “stop loss” orders to them. Additionally, the trader can make the stop loss a trailing stop loss, though the option for a guaranteed stop loss is not offered. Furthermore, there is a choice as to whether the trader wants the stop loss order to be executed at the bid or ask rate. Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

Charting Platforms

While there are 2,342 symbols shown in Pepperstone’s MetaTrader 5 (MT5) platform, some of these are actually duplicates. That being said, there are more than 1,000 distinct markets available for trading – including forex and CFDs. Pepperstone offers TradingView, cTrader and MetaTrader, and its wide range of available third-party tools and plugins enhances its already-impressive suite of available platforms.

Mobile Trading With Pepperstone

This type of account would be ideal for algorithmic traders and scalpers, and it is designed it for these types of accounts in mind. Commissions start at GBP £4.50 round turns for every 100,000 traded (1 lot). Furthermore, https://forexbroker-listing.com/ Pepperstone is amongst a handful of brokers that allow clients to trade these individual US equities in extended market hours. This can be extremely useful for traders to take positions early or reduce risk.

Pepperstone enhances its trading platform suite with mobile apps for MT4, MT5, cTrader, TradingView, and their proprietary platform, offering traders the flexibility to manage their trades on the go. The account type that you go for will depend on your trading strategy and investment size. I like tight spreads as I use scalping strategies, therefore the Razor account is my preferred choice as it has the lowest spreads. Yes, there is a commission fee on top, but it still works out cheaper more often than not.

Compared to other brokers like IC Markets or XTB, Pepperstone’s fees are competitive and often lower, especially for GBP and EUR account base currencies. The Razor Account is also incredibly competitive with spreads as low as 0.1 pips for EUR/USD and 0.2 pips for AUD/USD. This ECN-style pricing structure is ideal for trading strategies like hedging and scalping, where tight spreads can significantly impact trading costs. Their education, platforms and customer service are all geared towards medium to expert traders. You will never have to miss a trading opportunity with high impact economic event coverage, expert commentary, videos and more from the Pepperstone global market analysts’ team. Stay in the know with weekly global market news, insights and up-to-the-minute economic outlooks from market experts.

We have seen implied volatility in EUR options pricing rising, so traders are expecting increased movement in EUR assets, and that will only likely increase as we head into the 1st round vote on 30 June. Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years.

That said, the past performance of any provider is not a guarantee of future results. For cryptocurrency copy trading, your broker must be a registered Money Services Business (MSB) and licensed by FinCEN. In legal terms, copy trading is typically treated as a self-directed account.

1. TradingView allows you to analyse and trade directly using TradingView’s advanced charting capabilities.
2. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
3. These factors make Pepperstone a safe broker to hold your money, as it reliably processes more than $12.55 billion in daily trading volume and is trusted by more than 300,000 retail traders globally.
4. Access a world of CFDs across Forex, Indices, Commodities and Shares and trade the global markets your way.
5. Apparently, Pepperstone doesn’t charge an inactivity fee, which is a rarity in this industry.
6. The Markets in Financial Directive (MiFID) allows the company to operate as a regulated entity throughout the European Union.

Daily pre-market “forex reports” are emailed to the client prior to the start of each trading session. Funding options are comprehensive and include Visa, MasterCard, POLi, Bank Transfer, BPay, PayPal, Skrill, Neteller, and Union Pay. The broker states that “funding options are fee-free for traders in most countries.” No dormant or inactivity fees were found when reviewing site disclosures and FAQs. Apparently, Pepperstone doesn’t charge an inactivity fee, which is a rarity in this industry. Pepperstone also finished Best in Class for Algo Trading in our 2024 Annual Awards. If you’d like to learn more about the best algo trading software or the best trading platforms for high-frequency traders, check out our high-frequency trading guide.