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Pepperstone
Pepperstone started its journey 10 years ago in Melbourne, Australia by a team of experienced traders with a shared commitment to improve the world of online trading. Frustrated by delayed executions, expensive prices and poor customer support, we set out to provide traders around the world with superior technology, low-cost spreads and a genuine commitment to helping them master the trade.

Today, Pepperstone is also based in the City of London and Dubai and prides itself on the award winning service it delivers to over 89,000 clients worldwide. Our mission is to create a world of tech-enabled trading where ambitious traders can embrace the challenge and opportunity of global markets.

Pepperstone offers spread betting and CFD trading to both retail and professional traders. Clients can trade FX, indices, commodities, shares and more on popular demoUrl=https://trk.pepperstonepartners.com/aff_c?offer_id=367&aff_id=1455
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Review Score

Platform
Pricing
Customer service
Features

Pepperstone

Minimum deposit ($)
500.0
Maximal leverage (1:?)
500
Commission
3.5
Broker Name
Pepperstone
Broker type
STP, ECN, DMA
Broker status
Broker
Accepting US clients?
Demo Accounts
Mobile trading
Address
Australia: Level 5, 530 Collins Street Melbourne VIC 3000 AUSTRALIA UK: 70 Gracechurch Street, London, United Kingdom EC3V 0HR Dubai: Al Fattan Currency House | Level 15, Office 1502 A, Tower 2 | P.O.Box 482087, DIFC Dubai, United Arab Emirates
Regulation
FCA (UK), CySEC (Cyprus), ASIC (Australia)
Funding/Withdrawal methods
Wire Transfer, Credit Card, Debit Card, Moneybookers, Paypal, Neteller, UnionPay, Skrill, FasaPay
Trading Platforms
MetaTrader 4, MetaTrader 5, cTrader, Web Platform, Mobile Platform, AutoTrade
Country
United Kingdom
Account Currency
USD, GBP, EUR, CHF, JPY, NZD, CAD, SGD, HKD, AUD
Trading platform(s) timezone
(GMT +2:00) South Africa, Jerusalem
Pepperstone User Reviews
Pepperstone User Reviews
Member Since Dec 29, 2014   5 posts
Nov 14, 2015 at 13:48
Very good broker, highly recomended 😁
Member Since Nov 20, 2014   12 posts
Oct 24, 2015 at 09:10
I am over the moon with Pepperstone. Customer service is excellent, setting up a live account was painless. Their deposit and withdrawal process is so simple. I am very familiar with MT4, but decided to try their cTrader platform and really like it.
Member Since Aug 23, 2014   2 posts
Oct 14, 2015 at 06:15
I've received excellent service from Pepperstone so far. Their live chat feature is a fast way to get answers. Very knowledgeable staff to answer technical questions. Great deposit options if you have Australian bank account.

On 1 occasion I experienced slippage greater than normal so I asked for a liquidity report that covers 60 seconds before and after my trade execution time. I received the requested info within 30 mins and upon checking the numbers I can clearly see that the slippage was due to actual variations of market liquidity.

Anyone who claims to have been manipulated by Pepperstone (or any broker in general) needs to go and learn about market mechanics and risk mitigation. Reading wikipedia does not count as proper education. Perhaps then you will realise that without market makers taking on counter party risk, retail traders like us would not be able to participate in the market at the low cost and low risk that we have today.

Do you blame your car manufacturer for 'speed manipulation' when you are stuck in traffic because you choose to travel during peak hour? Let that sink in for a moment...
Member Since Mar 15, 2015   1 posts
Jul 20, 2015 at 06:32
Arguably the best broker ever, I cant ask for more.
Member Since Oct 25, 2014   10 posts
Jun 26, 2015 at 12:53
Fast (instant) deposits, fast (overnight withdrawals, fast support and good pricing.

IMO quite possibly the best retail broker in Australia.
Member Since Apr 02, 2013   6 posts
Jun 01, 2015 at 20:05
Used to be good not any more for me.

They have a very nice dealing desk to manipulate your trades. If you are simply trading with your EA without watching your log files, then you can continue trading hoping for making profit someday!!!

They send wrong price quotes, or delay the execution to 700 ms or simply send a slippage of 8 pips in every trade once you make some profit.

I use a stoploss of 5 pips though they claim to accept 1 to 2 pips, but trades get closed at -15 pips of loss on every trade just within few seconds!!!

Hence, STAY AWAY from this broker!!!!

Member Since Oct 29, 2014   2 posts
Dec 12, 2014 at 22:08
Me on the other hand, has not gone bad with this broker.
Member Since Nov 24, 2014   5 posts
Dec 12, 2014 at 22:07
I especially like their instant deposit methods and the ability to move money between my accounts in real time.
Member Since Mar 20, 2014   87 posts
Oct 22, 2014 at 13:48
I've seen ICM and CLM do the same recently - avoid also
Member Since Feb 04, 2012   85 posts
Oct 21, 2014 at 16:19
kieranf posted:
Thanks for this info guys! I was about to deposit a fair amount with Pepperstone, I will not now..


I would avoid Pepperstone as the plague...
Member Since Sep 12, 2013   1 posts
Oct 21, 2014 at 06:58
Thanks for this info guys! I was about to deposit a fair amount with Pepperstone, I will not now..

Member Since Oct 20, 2013   136 posts
Aug 06, 2014 at 17:56
Pepperstone is not an STP broker they have an A & B book if they cant natch the client orders so they have a win win on bot sides of the trade only then they pass it to the liquidity provider. I found IC Markets the best out of all the Aussie brokers although now I only trade with FXCM UK since I have quite a large account & they are excellent on the active trader accounts in terms of execution & spreads. Plus the FSA regulations are much stricter than ASIC. You might also want to try LMAX that is really the works when it comes to transparency
Member Since Mar 20, 2014   87 posts
Aug 06, 2014 at 12:42
This is something I saw on two separate accounts that same trade - one was filled like yours, the other was filled with reasonable slippage - both filled at the same time - big delay from order firing. Pepperstone have just brushed it off as being down to liquidity and hence spreads....the numbers were as you have said, way off the chart for any brokers price at the time. ridiculous.

Avoid Pepperstone at all costs.
Member Since Sep 26, 2012   23 posts
Aug 06, 2014 at 12:15
I had slippages on XAU/USD as well, like +5.00$ (accounts for 50 pips in MT4) in high volatilty, but since i trade stock also I dont get shocked for excessive far filling... what i can advise to Paracelsus is to move to a professional broker if he trades high volumes. Pepperstone is a retailer therefore the flaws are many 😉
Member Since Oct 28, 2009   1415 posts
Aug 06, 2014 at 12:04
I've seen Pepperstone do similar, generally with exotics as well, although there is another thread on here where a guy was filled on GbpUsd 10 pips above the high of the bar on the news the other day and it wasn't even that big a news release.

Quite possibly genuine in what's happening but it's very damaging to accounts. I'm currently not trading with Pepperstone for this exact reason.

Best regards Steve
Member Since Feb 04, 2012   85 posts
Aug 06, 2014 at 11:19
Exibit No. #2: It shows the actual fill price about 200 pips lower... Go figure!

At least the 200+ pips spike should have been displayed on the chart. Then it would be clear and obvious.

The bottom line is that any order can be filled at ANY price, so THEORETICALLY any account can be wiped out in an instant and LEGALLY, and the the fill price does even not have to show up on the chart.

I just wonder why they have not filled the order 500 or even 1000 pips lower? They could have gotten away with it, too...

Attachments:

Member Since Feb 04, 2012   85 posts
Aug 06, 2014 at 11:08
AndyQuant posted:
Paracelsus66 posted:
On July 10th PEPPERSTONE has slipped a USD/SEK market order by 200+(!), i.e. TWO HUNDRED PLUS PIPS! Seriously! It was a devastating loss with 8 lots.

I could never imagine that a 200+ pips slippage can happen. At least not with Pepperstone. The INVISIBLE spike had never even showed up on their charts! They just filled the order 200+ pips away from the actual market BID/ASK.

Pepperstone's official response: 'This price was a lower tier offered by liquidity providers and as such is not represented on the chart - only top levels of liquidity is displayed.'

How convenient...! In other words they can fill any order at ANY price and get away with it.
I would like to see you post an image of the chart and your balance with the Filling,also you should know that with such pairs ludicrous slippages can happen due to sucky liquidity,so you should be aware of that..

Exibit No #1: It shows the lowest recorded BID of the 'displayed' spike.

Attachments:

Member Since Sep 26, 2012   23 posts
Aug 06, 2014 at 10:26
Paracelsus66 posted:
On July 10th PEPPERSTONE has slipped a USD/SEK market order by 200+(!), i.e. TWO HUNDRED PLUS PIPS! Seriously! It was a devastating loss with 8 lots.

I could never imagine that a 200+ pips slippage can happen. At least not with Pepperstone. The INVISIBLE spike had never even showed up on their charts! They just filled the order 200+ pips away from the actual market BID/ASK.

Pepperstone's official response: 'This price was a lower tier offered by liquidity providers and as such is not represented on the chart - only top levels of liquidity is displayed.'

How convenient...! In other words they can fill any order at ANY price and get away with it.
I would like to see you post an image of the chart and your balance with the Filling,also you should know that with such pairs ludicrous slippages can happen due to sucky liquidity,so you should be aware of that..
Member Since Feb 04, 2012   85 posts
Aug 06, 2014 at 10:15
On July 10th PEPPERSTONE has slipped a USD/SEK market order by 200+(!), i.e. TWO HUNDRED PLUS PIPS! Seriously! It was a devastating loss with 8 lots.

I could never imagine that a 200+ pips slippage can happen. At least not with Pepperstone. The INVISIBLE spike had never even showed up on their charts! They just filled the order 200+ pips away from the actual market BID/ASK.

Pepperstone's official response: 'This price was a lower tier offered by liquidity providers and as such is not represented on the chart - only top levels of liquidity is displayed.'

How convenient...! In other words they can fill any order at ANY price and get away with it.
dunkdenk
Member Since Oct 16, 2011   85 posts
Jul 18, 2014 at 13:49
Both pepperstone and icm are good 😄
I also have a feeling that somehow they're under one group, I see this from their website structure, their operation procedure, it's too similar, and you can also use broker-to-broker transfer between these two smoothly. I have accounts with both brokers, that's why I have that feeling. 😁
Pepperstone User Reviews

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