Pepperstone

Added on May 20, 2013 02:39 AM
(3.5 / 5)
Spread: 1.5 Min. lot: 0.01 Execution: ECN,STP
Leverage: 1:400 Country: Australia Regulated by: ASIC
Min. deposit: 200 Platforms: MetaTrader, Webtrader, Android, IPhone, iPad, Blackberry Payment methods: Bank Wire, Credit Card, PayPal

Pepperstone is a dark horse amongst the Forex brokers that maintains a very low profile on the outside; however, once you take a look at the inside, the website is certainly bold and confident. Although it is a new Australia Forex brokers, it is going steady in the business front. The broker offers a discerningly subdued platform that belies the intriguing trading experience lying within the Forex trading platform. With respect to standard Forex trading as well as services offered by a regulated ECN broker, this broker definitely has more to offer than you can think of.

Trading Platform

Pepperstone has played safe by including the most popular trading system in the Forex market to date – the MetaTrader 4. It also includes MetaTrader 5 platform and standard mobile trading portals. It supports all smartphone, including iPhone. As a Forex broker, the company claims to have ultra-low latency network, offering cutting-edge technology, which kales the MetaTrader 4 version quite different from the regular brokers. Quite suggestive of the fact that they are trying to prove a point.

Trades are executed very easily by Pepperstone Forex broker, although there may be a holding time of a few seconds. The trades are normally accepted as per request, without any re-quotes, which is very common with most Forex brokers.

It is interesting to learn that the spreads included in the demo account of the company are identical to that of the spreads in their real account. Therefore, any trader who wants to test the Forex broker will not have to face any problem with the demo account to gauge the efficiency of Pepperstone. However, the most surprising part is that the Pepperstone demo account offers only $5000, which is quite less as compared to the other Forex brokers offering demo accounts for up to $100,000 or even customizable options that truly mimic the future account of the trader. Nonetheless, it is still good enough for traders to understand how the Pepperstone platform actually functions and how efficient it would be in real time.

Pepperstone trading platform

Features

Pepperstone, as the Forex broker offering both standard trading as well as ECN trading also includes several features, which makes it one of the most popular choices today. It stands out against some of the veteran brokerages too, for beginners, the ECN accounts of  Pepperstone requires only a nominal deposit amount of $200, while most other ECN brokers like FXPro need the accounts to be funded with $1000 as the minimum deposit.

Pepperstone is a STP Forex broker that involves in no-dealing. It offers only expert advisors, some low spreads and 22 pairs of currency for trading. With these variable spreads that start at 0.5 pips and the scalping ability, there is no doubt that this Forex broker offers the most lucrative trading conditions to people. The company also claims that it is able to offer such low spreads to traders because it is linked to the 22 major banking organizations, which helps this forex broker to pull off and maintain stability in the market.

However, the only disadvantage that can be pointed out is the lack of other options for trading platforms besides MetaTrader. It can be a great turn off for most traders who depend on other trading platforms. No doubt, MetaTrader is the best, but it is also a matter of traders’ preferences and choices. Having said that, anybody who wishes to use the MetaTrader platform will definitely appreciate what Pepperstone offers.

Help and Support

One of the major drawbacks is that Pepperstone does not offer telephonic customer support in multiple countries, which is something that most Forex brokers are specific about. However, there are some advantages of the customer support offered by this Forex broker. For beginners, Pepperstone has published its Skype contact details directly on its website for the traders to contact them. This way, novice traders can easily get in touch with them. In addition, the company also offers email submission form online and different email addresses for seven different departments to send the inquiry directly to its specified destination. Their response time is very good.

Compared to the range of customer support and service offered by most Forex brokers today, Pepperstone seems to be lagging behind in various ways. However, there are some features that makes up for it, thought the convenience of Live Chat and customer support phone numbers for all countries would have made it easier to communicate.

Summary

Forex trading, as on would agree, is not really an easy endeavor to venture. That notwithstanding, the company, Pepperstone, makes it easier for forex traders to set up their own accounts and trade successfully using the MetaTrader platforms. The process of account registrations is 2 pages long, which is quite bearable. The procedure ends with scanning, emailing or faxing the two identification forms to the main office. Due to latest changes in regulations, it will not be possible to start trading until the identification of the trader has been verified and everything is found to be OK. It is one measure, however, which can delay the entire process. Nevertheless, traders bear with this delay because it is meant to protect the broker as well as the trader in various ways.

Funding the trading accounts is simple – credit card, direct fund transfer from other Forex brokers like FXDD and Alpari, and wire transfer are some of the options available. The company intends to accept BPAY and PayPal in the near future.

Money withdrawal is also as straightforward as deposit, though it needs submission of the typical withdrawal form and there is going to be a waiting period of 2 days, if not more.

One of the major flaws in this Forex broker is that it does not offer any learning resources or tools to the traders, unlike other brokers. The company simply offers 2 forms of market analysis weekly that can be helpful for advanced traders but nothing for the beginners. It would have been a great addition.

Pepperstone is still in the stage of infancy. However, there is no doubt that this company possesses the skills and expertise, and it also exhibits a flair and understanding of the needs of Forex traders to trade successfully and securely. Whereas Pepperstone still does not severe American clients, it offers excellent trading experience to traders in other parts of the world.

Tags:
MT4, MT5, ECN, traders, PayPal

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