Pepperstone Broker Review For Africa In 2024

Pepperstone Basics

🏛️ Based in	Sydney, Australia
⚖️ Regulation	CySEC, FCA, ASIC, CMA
💰 Minimum Deposit	$0 (No minimum deposit)
💳 Deposit Options	VISA, MasterCard, Bank Wire
💳 Withdrawal Options	VISA, MasterCard, Bank Wire
📌Open an account	Start Trading with Pepperstone

Our Opinion About Pepperstone

Pepperstone is our favourite among online forex brokers. It was first launched back in 2010. They are now a large forex company with offices in Limassol, Düsseldorf, London, Melbourne, Dubai and Nairobi.

The first thing you need to know about Pepperstone is that they are a licensed company and are regulated by some of the top financial authorities in the world. As a licensed broker, they provide a great online trading experience and a secure online trading environment. In recent years, they have won many forex awards and earned the trust of over 300,000 traders. They also process around US$12.55bn of trades every day, making them one of the biggest brokers in the world.

The next thing you should know about Pepperstone is that they offer a much better trading service than many of their competitors. They give you access to over 1000+ trading instruments including forex, shares, indices, metals, commodities, and cryptocurrencies. They also give you a great choice of trading accounts. You can choose from 2 main account types – both of which come with tight spreads and fast trade execution. You can also choose from three trading platforms – MetaTrader4, MetaTrader5, and cTrader.

The final thing you should know about Pepperstone is that they offer world-class online trading support. They have excellent trading technology including trading calculators, premium trading tools, and VPS services. They also have great educational materials including articles, eBooks, and webinars. And for those with questions, Pepperstone also has great customer service and multilingual support.

Pepperstone and Regulation

Pepperstone is a trading name. It is used by several companies all belonging to the same group.. While this setup might seem a bit complicated, it enables Pepperstone to apply for more licences and operate in more countries. It also helps ensure that their traders worldwide benefit from a high level of regulatory oversight and client fund protection.

Pepperstone Licences

As a group, Pepperstone has several licences. For example, it is licensed by the Australian Securities and Investment Commission (ASIC), the UK Financial Conduct Authority (FCA), and the Cyprus Securities and Exchange Commission (CYSEC). Here is the complete list of their companies, licences, and registrations:

• ASIC – Pepperstone Pty Ltd has licence number 414530 from the regulator in Australia.
• FCA – Pepperstone Ltd has licence number 684312 from the regulator in the UK.
• SCB – Pepperstone Markets Limited has licence number SIA-F217 from the Bahamas.
• CySEC – Pepperstone EU Limited has licence number 388/20 from the regulator in Cyprus.
• DFSA – Pepperstone is regulated under licence number F004356 in Dubai.
• CMA – Pepperstone has the licence number 128 from the regulator in Kenya.
• BaFin – Pepperstone has a licence under registration number 151148 in Germany.

Regulations in Africa

Forex traders in Africa can open a trading account with Pepperstone Markets Limited. This is the Bahamas subsidiary of Pepperstone and it has a licence from the Securities Commission of The Bahamas (SCB). This Bahamas subsidiary has good client fund security measures. It also has good trading conditions and a secure trading environment.

Client Fund Safety

When it comes to fund safety, they choose to go beyond their basic regulatory requirements, and offer more comprehensive client fund protection measures. Pepperstone keeps all client funds in segregated accounts, separate from its operating capital. This means that they can never use client funds for their own operational purposes. Pepperstone also ensures that negative balance protection is available on a discretionary basis This means that they can never allow client funds to fall below zero.

Forex Awards

If you’re looking for a great service, it can help to know if the forex broker you want to trade with has even won any industry awards. Pepperstone is an established forex company and one of the best options for forex traders in Africa. It has received many awards in recognition of its forex trading services including:

• Best Forex Broker 2021 (Daytrading.com),
• The Best Tailored Professional Trading Conditions 2019/2020 (Professional Trader),
• Best Trading Performance Tools 2020 (Professional Trader),
• The Best Global Forex ECN Broker Award 2019 (Global Forex Awards),
• Best Forex Trading Support – Europe 2019 (Global Forex Awards).

Pepperstone: Scam or Legit?

Pepperstone is a legit broker. They have been operating in the forex industry for many years and are one of the best-known brands in Africa. They are an award-winning company. In terms of regulation, they have licences from some of the top financial authorities in the world, including ASIC and CySEC. When it comes to trading, they offer good trading conditions and fair pricing. And when it comes to forex, they offer a nice range of trading instruments. In our opinion, Pepperstone is a legit forex broker.

Pepperstone Trading Assets

Pepperstone markets are great in terms of their trading assets. They offer 1000+ trading instruments. You get the choice of currency pairs, metals, shares, commodities, cryptocurrencies, and indices.

Pepperstone Trading Instruments

• Forex: Pepperstone has 60+ currency pairs to choose from including major, minor, and exotic currency pairs.
• Shares: Pepperstone has 900+ share CFDs. You can choose from sectors including technology, health care, and banking.
• Commodities: They have 20+ commodities including gold, silver, platinum, petroleum, natural gas, coffee, and cocoa.
• Indices: They have 20+ indices. You can trade all of the most popular instruments across the American, European, and Asian markets.
• Pepperstone crypto trading: They have Bitcoin, Bitcoin Cash, and Litecoin. You can also trade Ethereum, Ripple, and Polkadot.

Pepperstone Account Types

As part of our Pepperstone broker review, we looked at what trading accounts are available and what trading conditions they come with. Here is what we found. 

Type	Spreads	Min. Deposit	Max. Leverage	Commission
Razor	From 1.1 pips	$0	1:30	$0
Standard	From 1.0 pips	$0	1:30	$0

Real Accounts

The Standard account and the Razor account are both real accounts. They have a minimum 0.01 lots trading size and a maximum 100 lots trading size. The maximum leverage is 1:30. The base currencies are GBP, USD, EUR, CHF. You can use scalping and hedging trading strategies. You can also use EAs.

Demo Accounts

Pepperstone has a free demo account. Their demo account mimics a live trading environment and allows you to practise trading forex in real-time. It works using virtual money rather than real funds. If you’re new to trading then you can use the demo account to try out all the tools on MT4, MT5, and cTrader. If you’re more experienced, then you can use it to test new EAs and trading strategies.

PAMM Accounts

Pepperstone offers both MAM and PAMM to qualified fund managers with relevant licences or industry experience. If you’re new to trading, then you can work with fund managers to get a fully-managed trading portfolio. 

Pepperstone Spreads

Pepperstone has variable spreads. They provide low minimum and average spreads across all of their trading accounts. For example, their spreads for EUR/USD and GBP/USD start from 0.10 on the Razor account and 0.7 on the Standard account.

Pepperstone Commission

Pepperstone offers low-cost trading on its accounts. The commission per 0.01 lots on their MT4 and MT5 Razor accounts are USD 0.04 (USD 0.08 round turn). The commission on their cTrader account is $6 USD per round turn.

Pepperstone Leverage

Pepperstone has lower leverage than other forex brokers in Africa . That said, the available leverage is still more than enough for new traders. It varies depending on which trading instrument you choose. For example, the leverage on forex pairs, commodities, indices, and metals is 1:200. Meanwhile, the leverage available on cryptocurrencies and stocks in 1:10 and the leverage available on ETFs in 1:20.

Pepperstone Non-Trading Fees

Unlike other brokers, Pepperstone does not charge any administration or inactivity fees. This means that you can stop trading without having to worry about running up any extra trading fees. Also, Pepperstone does not ask for any deposit or withdrawal fees, it only asks you to cover the costs of international bank wires. This means it has some of the lowest non-trading fees in Africa.

Pepperstone Currency Conversion Fees

Pepperstone does apply a currency conversion fee for transfers in currencies other than their accepted base currencies. Their base currencies include: AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, and HKD. The best choice for traders in Africa is probably USD but conversions fee will apply.

Pepperstone Bonuses

Pepperstone have excellent account types and competitive online trading conditions. However, they do not offer any special bonuses. There may be room for improvement in this area, as many other brokers in Africa offer forex bonuses. 

Pepperstone Registration – How To Open An Account

As part of our Pepperstone forex broker review, we had a look at their registration process. If you live in Africa, then you are eligible to open a live trading account. The first step is to go to their website and complete the online registration form. This is so that Pepperstone can gather some personal details and create your account. At this stage of the process, you also need to provide an email address and password. These will be your login details.

The next step is to take a short test about online trading. This is so that Pepperstone  can see how much you know about trading and decide whether their services are suitable for you.. If you pass the test, you can then proceed to the next stage of the process. The final step is to complete the KYC process and verify your account. This is so that Pepperstone can meet all their legal requirements and approve your trading account. 

Pepperstone Registration – How To Verify An Account

As part of the registration and account opening process, Pepperstone needs to verify your identity. For this reason, they ask you to complete their KYC process and submit certain verification documents.  This could be a copy of your passport or driving licence. You also need to give them a secondary form of ID. This could be a utility bill, a bank statement, or a government issued tax document. Alternatively, it could also be a birth certificate, or a citizen certificate. After Pepperstone has checked your documents, they will approve and activate your trading  account.

Pepperstone Payment Methods

As part of our Pepperstone broker review, we checked their payment processes.  Pepperstone has a fairly limited choice of payment options compared to other brokers. However, it does have all the most conventional payment methods. Let’s have a look in more detail.

Pepperstone Deposits

Deposit Methods

Pepperstone has Visa, Mastercard, and bank transfers as its main deposit methods. However, if you decide to open a live trading account, then you may find more funding methods in your client area, depending on where you live. For example, some clients may also be able to deposit money using e-wallets or other methods such as PayPal. 

Minimum Deposits

The recommended minimum deposit at Pepperstone is $200. 

Deposit Times

Pepperstone is fairly quick at managing deposit requests. Most deposits are processed either instantly or on the same day.. However, depending on where the money is coming from, it may take slightly longer for you to see your funds in your account. For example, deposits made by Bank Wire Transfer can take 3-5 working days to reach your account.

Pepperstone Withdrawals

Pepperstone offers Visa, Mastercard, and bank transfers as their primary withdrawal methods. However, if you decide to open a live trading account, and use an alternative method for your deposits, then more withdrawal options may be available to you in your client area. For example, some clients may also be able to withdraw money from their trading accounts using e-wallets.

Pepperstone is fairly quick at managing withdrawal requests. Withdrawal forms received before 08:00 (GMT) will be processed the same day. If these are received after 08:00 (GMT), they will be processed the following day.Depending on where the money is being sent, it may take slightly longer for you to receive your funds, For example, withdrawals made by Bank Wire Transfer usually take 3-5 working days to reach your account.

Withdrawal Conditions

Pepperstone does not charge any withdrawal fees. It’s important to keep in mind though that Pepperstone will not cover the costs of international bank wires.

There are a few withdrawal conditions that you need to keep in mind. Pepperstone is a regulated forex broker and, as such, is very strict when it comes to following Anti-Money Laundering rules and regulations. For this reason, non-profit withdrawals can only be returned to the original deposit source. Also, regardless of which deposit method you use, profits can only be withdrawn via a bank transfer to a bank account in your name.

Withdrawal Problems

There have been very few reports of withdrawal problems online. Pepperstone is a reliable forex broker and can be trusted to keep your funds in segregated accounts, take the necessary security precautions to protect your money, and to promptly deal with any withdrawal requests. Any withdrawal problems should be reported directly to their customer service team, who will deal with the issue quickly.

Pepperstone Trading Hours

Pepperstone’s trading hours are in line with standard trading hours. You can open trades whenever the forex market is open. Trading hours may vary on public holidays.

 Pepperstone Trading Platforms

Pepperstone has Metatrader 4, Metatrader 5, and cTrader. All of the platforms are available on desktop, tablets, and mobile. This means you can choose between any of the three most popular trading platforms on the market. 

MetaTrader4 (MT4) is one of the top trading platforms for beginner traders in Africa. You can use the platform to trade forex, shares,  indices, and more. The Pepperstone MT4 platform comes with advanced charting tools, 4 order execution types, 30 technical indicators and 23 analytical objects. You can use these tools to master your technical analysis and implement better trading strategies.

MetaTrader5 (MT5) is also another great choice for beginner traders in Africa. As with MetaTrader4, you can use it to access and trade all your favourite trading instruments. The Pepperstone MT5 platform  has a wide selection of trading tools including 6 order execution types, 38 indicators, and 37 analytical objects. As such, it has better functionality and enables you to make more advanced trades.

cTrader is a popular and powerful trading platform. As with MT4 and MT5, you can get access to a wide range of CFD trading instruments including forex, metals, and stocks. The Pepperstone cTrader platform also comes with 6 order types, 55 technical indicators, an economic calendar, and market sentiment tools. As such, it is a great trading platform that you can easily use to carry out your analysis and manage your trades.

Trading Tools

Pepperstone offers a nice range of online trading tools. They have a Smart Traders Tools package. This includes a helpful suite of expert advisors that help you enhance your trading strategy. They also help you manage your risk and improve your overall trading experience. Pepperstone  also offers a wide range of more advanced  trading tools including API trading and VPS services.

If you’re looking for a social trading service, then you can try Pepperstone’s trading signals. Pepperstone has partnered with social trading platforms. Their main partner, MetaTrader signals, lets you access trading signals from successful traders in real-time. This type of social trading also helps you diversify your trading strategy. It also helps you to reduce your portfolio risk and save time on your market research

Education And Research

Pepperstone offers a nice selection of online articles and trading guides. You can use these resources to improve your knowledge of the forex market and to start creating your first trading plans. Pepperstone also offers a nice selection of online webinars. These webinars cover many key topics such as market analysis and risk management techniques. You can watch them whenever you want, as they are available on demand. 

Customer Support

The Pepperstone customer service team is helpful. They are good at what they do and able to support you with any questions you have about your account. They are also very quick to respond.  You can contact them via live chat, email, or phone. You can also reach them online by filling in the contact form on the website.

Our Verdict

Pepperstone is a great broker. They offer great account options and excellent  online trading conditions. Their wide range of educational resources and extensive trading support make them a great option for new traders. Plus, their advanced trading technology and competitive pricing make them a great choice for experienced traders as well. Pepperstone makes sure you have everything you need to create and implement successful trading strategies. They also provide a safe trading environment and a seamless trading experience. In our opinion, they are a great choice for traders in Africa.

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