The brokerage platform Pepperstone has been on the Forex market since 2010, attracting more and more new users. Over the past couple of years, its rating has dropped significantly – users accuse the broker of fraud. How this company differs from its competitors and whether it is worth cooperating with it, we understand the review.
Pepperstone History
Pepperstone was founded in Melbourne, Australia in 2010. Today the service offers access to the financial and stock markets to clients from 150 countries. To protect investors, a system of keeping funds in separate segregated accounts is used. In addition, over ten years of operation, the brand has been awarded several awards, which are dedicated to a separate page on the official website.
The Pepperstone broker is controlled by the Australian ASIC and FCA – the latter allows it to legally offer its services to EU citizens. Additionally, the service is regulated by CySEC, DFSA, CMA, SCB and BaFin. The legal information published on the site differs depending on the region in which the customer registered the account. Before using the platform, you should also read the privacy policy and terms of use of the website.
To publish news and communicate with users, the broker uses accounts on such social networks as Facebook, Twitter, LinkedIn, Youtube. Support can be contacted via a functioning online chat, email and phone number. As the reviews say about Pepperstone, the platform has been experiencing connectivity issues and response delays.
Pepperstone Trading Platform Functionality
Pepperstone’s core business is to provide direct access to the financial market and provide a comfortable environment for social trading. You can trade with a broker using the classic MT4 and MT5 terminals, as well as the cTrader platform. These sites are available both as desktop programs, browser versions, and mobile applications for any operating system. Automatic trading is also available – the client can use such tools as Smart Trader, cTrader Automate, Autochartist. There is also a VPS server rental.
Pepperstone has an official website in three languages – Russian, English and Chinese. Novice traders can study theoretical material that reveals the basics of earning money in the Forex market and CFD contracts. The possibility of working through a demo account for 30 days is available. In addition, the broker specializes in social trading technologies, offering copy trading tools and ready-made signals.
As for the trading conditions, the broker is also extremely transparent here. There are only two types of accounts, and they differ only in the level of the client’s preparation and some technical aspects, including spreads and commissions. Pepperstone offers to earn money on currency pairs, commodities, cryptocurrencies, as well as CFD on indices and stocks. The deposit starts at $ 200, which may seem like a high threshold for entry, but this is compensated by protection from negative balance, zero spreads, high leverage – up to 1: 500, hedging, scalping and trading robots, as well as online chat in 24/7 mode.
A separate section has been published on the site about replenishment and withdrawal of funds. To implement such operations, you must first go through the identity verification procedure. With Pepperstone, withdrawals can be requested for the following payment methods: VISA, MasterCard, PayPal, Skrill, Neteller, Russian payment systems and bank transfers.
What do customer reviews say about Pepperstone?
Over the past few years, the broker has received many negative comments, including from Russian-speaking users. In particular, in the reviews left about Pepperstone, customers complain about:
- platform failures – the Pepperstone site may freeze for half an hour or more;
- speculation in spreads, frequent slippages and requotes;
- lengthy process of withdrawing funds without any reason or refusal of the transaction;
- closing deals by the broker itself and making unprofitable orders while the user is trading.
Nowadays, you can often find statements that Pepperstone is a scam and a Forex kitchen. Nevertheless, the company has been providing services for more than 10 years, being under the control of several jurisdictions. It is recommended that you familiarize yourself with its requirements and client agreement before opening an account.
