Pepperstone Online Broker Review in 2019

Pepperstone Review

Founded in 2010, Pepperstone is Australia’s fastest growing forex broker. With an ideal ‘no desk’ broker approach, Pepperstone provides its clients with one of the fastest trade execution speeds, some of the lowest spreads and reduced slippage, all of which give traders an idyllic advantage. The company is based in Melbourne, Australia however it now has offices in Shanghai, China and Dallas in the USA. With the company experiencing exponential growth since its establishment, Pepperstone has well earned it’s place in Australia’s top 5 companies for forex broking. Given this status, a review of the company has been provided below in order to outline what the company is offering to its clients and what type of trader the company might be best suited to.

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Pepperstone has won a variety of prestigious awards, including:

  • 2015 Investment Trends- Australia FX Report – Best Customer Service
  • 2015 Investment Trends- Australia FX Report – Best Overall Client Satisfaction
  • 2014 Australian EY Entrepreneur of the Year
  • 2014 BRW Fast Starters- Winner Fastest Growing Company in Australia
  • 2014 Winner of Governor of Victoria Export Awards
  • 2013 Deloitte Technology Fast 50 Award- Winner Rising Star
  • 2013 BRW Fast Starters- Pepperstone named in top 100 fastest growing companies in Australia

Trading with Pepperstone

Pepperstone has directed their focus to providing traders with very low-cost pricing across all CFDs, FX and commodities as well as ensuring that they provide the highest level of security with tight financial regulations and award winning customer support. The company offers a variety of online trading platforms such MetaTrader4, the most popular online trading platform, as well as cTrader, WebTrader and mobile apps for Android, iPhone and tablets.  Conforming well to it’s true ‘ecn broker’ approach, Pepperstone allows Australian forex traders to make direct trades leading bank systems and other currency pools. The company has termed this their ‘edge environment’ and as there is no dealer desk intervention, clients are able to make ultra-fast trade placements. Pepperstone has capitalised on two key factors which makes their brokers execution speeds up to 12 times faster than competitor, those being:

  • Optical Fibre Network from Australia to Wall Street

Pepperstone uses an optical fibre network that runs from Sydney to their New York equinox servers which results in up to 10x latency reductions from this factor alone.

MetaTrader Master Server System

Pepperstone has set up a partnership with Equinix which is one of NASDAQ’s leading listed firms. As Equinix has servers located near Wall Street, this allows Pepperstone clients to access low-latency networks and the ability to exchange data with their strategic partners that are located close by. In total, the Equinix NY4 facility has over 60 exchanges, more than 400 buy/sell firms and over 150 financial service providers.


In addition to Pepperstones ‘edge environment’, the company has multiple unique trading accounts that successfully accommodate for all levels of traders.

  • The Standard STP Account

The Standard STP account is the classic account type and is designed for normal traders. The account uses Institutional Grade STP Spreads and allows users access to the company’s excellent liquidity with no commissions.

  • The Razor Account

The Razor account is designed for advanced and EA traders which features top of the range infrastructure, allowing Pepperstone clients to benefit greatly from not only flexible leveraging, but also from trading from 0.01 lots with lightening fast execution speed. The table below further outlines the razor account features.

Spread type Raw Interbank Direct Pricing
Average EUR/USD Spread 0.0 – 0.8 pips
Min/Max Trade Size 0.01 lots / 100 lots
ECN Commission AU$3.5 per 100k traded
Leverage Available Up to 500:1
Min Account Opening Balance $200 AUD or equivalent
Account Base Currencies Available AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD
Scalping Allowed Yes
EAs Allowed Yes
Hedging Allowed Yes

Review: Why Choose Pepperstone?

  • Pepperstone is a licensed CFD and forex broker in Australia, and is regulated by the Australian Securities and Investment Commission (ASIC)
  • Pepperstone ensures that all client funds are held in segregated trust accounts with Custodian Bank – National Australia Bank
  • Pepperstone also provides users with their Price Improvement Strategy which is very effective in volatile markets when large price movements occur. This works in three steps where by a client makes a CFD or currency trade through the MT4 or cTrader platform, when the trade is executed there may be a favourable price movement which is detected and finally the price movement technology aims to fill the price at the improved level with no requote occurring.
  • Ultra low razor spreads from just 0.0 pips
  • Over 70 tradable instruments
  • Pepperstone offers a leverage level of 500:1, one of the highest levels on the forex markets
  • $200 minimum deposit
  • Negative balance protection
  • The world’s two most popular forex trading platforms
  • Award winning customer service
  • One of the fastest trade execution speeds
  • Some of the lowest forex trading fees in Australia
  • No ‘dealing desk’

Pepperstone Summary

As it can be seen throughout this review, Pepperstone is a leading financial company in the online trading world and is one of the fastest growing forex brokers in Australia. Pepperstone provides superior technology with some of the fastest execution speeds, low-cost spreads and award winning customer service. With a variety of platforms to choose from, the company successfully facilitates for traders of all skill levels and has a lot to offer to the trading world. The company offers a range of online trading platform for their users including MetaTrader 4, WebTrader, cTrader and mobile apps for Android, iPhone and tablets. Pepperstone have key advantages over other forex providers such as their optical fibre network from Australia to Wall Street, the company’s partnership with Equinix as well as their price matching technology.