Today, Pepperstone is also based in the City of London, Dubai, Düsseldorf, Limassol, Santiago and Nairobi and prides itself on the award-winning service it has delivered to over 400k clients worldwide.
Overall
Been using this broker for over 5 years now. The broker was a revelation when they pushed out the Razor Edge account type, trade execution was simply flawless, pending orders get executed +/- 0.1 pip slippage, which is not bad at all. market orders in a extreme new event could slip a little more. but no body should try to catch trade during those times.
otherwise the broker provides a comprehensive selection of deposit method, customer service is excellent and very responsive.
Swaps are reasonable especialy on EURUSD short trades, some broker would have negative swap on that but Pepperstone could still deliver a positive swap on positive interest rate carry trades even if EUR and USD interest rates spread are marginal.
Pip spread is without a doubt one of the tightest I've seem especially in active markets, Asia Market is understandable to have a slightly wider because of a lower liquidity in the market.
but what this broker does far better than most is that they do not place trades against you, they route order to different dark pools to get the order fill instead of having to take up the risk themselves, (something that has shown to kill a lot of brokerages risking investors funds, like FXCM and Alpari UK), the fact they do not hold trades in their books should ease some investors' mind on the security of investors' funds.
At last, this broker process fund withdrawal the fastest I've seen, as long as the money you withdraw to is on the same account name as the money you deposited from.
Overall, very positive feedback for Pepperstone, and 5 years working with them built enough trust for me to use their services for another 5 more years to come.
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Can't complain about the execution speed, it also has 0.5ms from Beeks VPS, the liquidity, the spread (I have yet to detect any mockups here) all good.
They offer maximum leverage on any account size. Very few brokers give that to 100.000$+, or even 50.000$+ accounts.
Higher comission than many other brokers. But for long term trades they take less swap charges than say fxopen.
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I am also very pleased with their deposit and withdrawal quick system. With a previous broker I used to get my withdrawals 2/3 days later but with pepperstone it was overnight and believe me I was shocked. They had me since then!!:)
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Very good broker, highly recomended 😁
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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.
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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...
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Arguably the best broker ever, I cant ask for more.
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Fast (instant) deposits, fast (overnight withdrawals, fast support and good pricing.
IMO quite possibly the best retail broker in Australia.
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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!!!!
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Me on the other hand, has not gone bad with this broker.
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I especially like their instant deposit methods and the ability to move money between my accounts in real time.
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Thanks for this info guys! I was about to deposit a fair amount with Pepperstone, I will not now..
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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.
Overall
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.
Overall
Regulated. Excellent service. Clean, easy to use website. cTrader available. Spreads acceptable. Commissions no worse than anyone else.
Recommended.
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Up until recently I had 3 accounts with Pepperstone running different EAs (total deposits of around $200,000). I have to say the customer service was excellent every time I had to contact them - and really quick (both by email and using the live chat). Having used other brokers as well, the interface for managing and viewing accounts was pretty slick, and the performance of the accounts compared well. At one point I had both the commission (Razor) and non commission (Edge) accounts running side by side and the Razor account outperformed quite considerably, which begs the question why anyone would want to use the standard account. Anyway, I had to close all accounts as have a better tax free alternative in the UK (spread betting using MT4) - spreads not quite as good but preferential tax position trumps spreads on this occasion. Were it not for this, I would definitely still be with Pepperstone, so FWIW I thoroughly recommend.
Overall
very bad customer service. they detected me chatting from US IP, and here is the conversation
me : i have question about account details
customer service : your chatting from USA, i can not assist you at all. have great day!
you left the chat room.
oh really? this is guy anti USA or what? im chatting from US VPS goddamn!. he did not even give me chance to say that.
the bigger company the shittier service i guess, they dont give a shit to lose customer.
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Pepperstons has a A and B book, they even say this in their terms of use!
They are not true ECN either as they only forward market orders to the ECN grid, same is true for IC Markets.
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The spreads are terrible on the Razor account if you add up the commission & swap its higher than FXCM standard account. This can not be true ECN raw feed. They seem to run an A & a B book
I hate it when Brokers place from 0.3 pips to 6.8 pips u see the 0.3 for a split second of the day & you stay trading at 6.8 pips
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They are so good now, guy. The price is the same as Onada and withdraw is ok.
I think you hate them. you just want everyone to go far away.
