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Pepperstone Trading ReviewSpecialising in CFD and foreign exchange – or forex – trading, Pepperstone is a multi award-winning Australian-based ECN broker regulated by the Australian Securities and Investments Commission (ASIC). Providing platforms for both retail and institutional clients, the company equips users with the technology and features they need to trade the world’s markets online. But, is Pepperstone right for you? First, let’s look at a little history.
Where did Pepperstone come from?
Established in 2010, Pepperstone and its co-founders Owen Kerr and Joe Davenport emerged from relative obscurity to create a platform that now transacts over $US100 billion in FX turnover each month. Headquartered in Melbourne, the company also has offices in Shanghai, China and Dallas, USA.
And those awards? Over the years, Pepperstone has won a whole host of industry awards. After being named 2014 Australian Ernst & Young Entrepreneur of the Year, Pepperstone then topped the BRW Fast Starters list and won Victorian Exporter of the Year. Following that, in Investment Trends’ 2015 Australia FX Report, Pepperstone took home the number 1 spot in both Customer Service and Overall Client Satisfaction.
By the end of 2015, according to industry news and resources firm, Forex Magnates, Pepperstone ranked as the world’s 12th-largest retail foreign exchange broker. So Pepperstone’s profits must be looking pretty healthy? Yep, a report lodged with ASIC showed that Pepperstone made a net profit of $24.4 million from about $60 million revenue in the 2015 financial year.
What does Pepperstone offer?
As a potential Pepperstone customer, what kind of features can you expect?
Accounts: Traders can choose from several trading accounts. For normal traders, there is the Edge Standard account, which uses Institutional Grade STP Spreads and has no commissions. For advanced and EA traders, there is the Edge Razor account, which uses Raw ECN Spreads from 0.1 pips and charges $3.5 commission per $100k trade.
For active traders and Institutional Partners, Pepperstone offers an additional account. Providing account holders with a higher level of service and superior ECN EDGE execution, this Platinum account is a segregated account with a dedicated relationship manager. On top of that, there are Swap Free accounts for clients whose religious beliefs prevent them from receiving interest.
Accessibility: Users can access the Pepperstone site via desktop, or trade using their mobile device via the Pepperstone app for iPhone, iPad, Android or BlackBerry.
Technology: Pepperstone provides users with access to their EDGE environment. With no dealer desk intervention, this lets Australian forex traders make trades directly with currency pools, allowing for super-fast trade placements.
How does it do this? Using an optical fibre network from Australia direct to their New York-based Equinix servers, Pepperstone’s systems allow information to travel faster, with significantly reduced latency. By partnering with Equinix, Pepperstone puts its users as close to the action in Wall Street as possible, providing quick execution and reduced spreads.
Trading Platforms: Pepperstone offers users a wide range of platforms to choose from. Two of the most popular are MetaTrader and cTrader. As the world’s most popular forex platform, MetaTrader provides an easy-to-use interface and order management tools, with real-time charts, live quotes and in-depth news.
With a customisable interface that can be personalised with pre-set and detachable charts, cTrader provides the ability to implement algorithmic-based forex trading systems, and direct access to inter-bank market depth.
Deposits & Withdrawals: Users can make deposits to their account via credit and debit card, bank transfer, and using online payment programs such as Neteller, WebMoney, Qiwi and Skrill. To make a withdrawal, users fill out an online withdrawal form. A bank wire transfer is then processed, to provide requested withdrawals within 3-5 working days.
Customer Support: Users can access 24-hour support via email or online chat. Traders can also contact the company by phone at its Melbourne, Shanghai and Dallas offices.
Education: For users who want to expand their trading skills and knowledge, Pepperstone offers a variety of educational services. These include a full financial glossary, instructional articles, an economic calendar with upcoming events, and a regularly updated market review and news previews.
Why should you choose Pepperstone?
Pepperstone says its success is based on the fact that it invented a product that does its job faster, better and cheaper than other available alternatives. With ‘no dealing desk’, it provides the opportunity to trade directly with liquidity markets, resulting in fast execution speeds, lower spreads and reduced slippage. It also offers negative balance protection, and as we’ve seen, two of the world’s most popular forex trading platforms, great customer service and a heap of other features.