Binary options are prohibited in the European Economic Area. 83% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FairForexBrokers

Free $10,000 Demo Account

Sign up now
76% OF RETAIL INVESTOR ACCOUNTS LOSE MONEY WHEN TRADING CFDS BINARY OPTIONS ARE PROHIBITED IN EEA

Pepperstone Binary Options

Pepperstone

Peppersone is an Australian Forex and CFDs broker founded in 2010. The brokers strengths are international presence and customer support as well as the fact they offer two types of platforms for their traders. Along with standard features, they also offer Autochartist, ZuluTrade social trading and PAMM accounts. Also important to note that Pepperstone has no dealer desk – they are an STP broker. A con is the fact that there is no negative balance protection, which is something many brokers have been enforcing recently.

Pepperstone Create Account

Pepperstone lets visitors create a Demo account they can use for 30 days and it includes $50.000 of virtual money that can be used to trade without risking own money. When one enters their personal info, the next screen asks for the trading account parameters, such as the account currency, leverage and the trading platform. This will then give you the login data for the platform and you will also receive the login data for the client area since the initial setup does not require creation of a password – it is automatically generated and delivered by email, so keep an eye on your inbox.

Initially when trying to login into cTrader, which was our platform of choice – not so much because its better than Metatrader4, just because its different, we could not. We tried using the cTrader web based solution. We contacted the customer support to sort it out, however meanwhile we figured out it’s the same inconsistency in the cTrader itself. In the bottom of the login window of the platform, there is a text links that says “skip this step and sign in withy your trader account”. This is what you need to click and then use your details. After that everything worked, even though we got initially 10,000 of virtual funds.

In order to move on to real trading account, further info about the trader must be entered in the system. This can also be done with the help of the dedicated account manager who will send an email to introduce him/herself after the demo account is created.

Pepperstone EDGE

Pepperstone offers following account types:

Pepperstone EDGE Standard

  • Minimum deposit A$200
  • 0 commission
  • spreads from 1 pips
  • STP account – no dealer desk
  • Negative balance protection with stop-out
  • Up to 1:500 leverage

Pepperstone EDGE Razor

  • Minimum deposit A$200
  • A$3.5 commission
  • spreads from 0-0.8 pips
  • STP account – no dealer desk
  • Negative balance protection with stop-out
  • Up to 1:500 leverage
  • Scalping, hedging, EAs allowed

Pepperstone EDGE Swap Free / Islamic

  • No swaps with STP
  • Minimum deposit USD 200
  • Spreads from 1 – 1.2 pips
  • Includes admin charges for 2days+ trades
  • Scalping, hedging, EAs allowed

Note that cTrader commission is not in the account currency but it is 7 units of the first quoted currency in a trade that was placed. So if you place a trade for EURUSD you will pay 7 EUR commission.

You will notice Peppersone keeps accentuating the fact they use EDGE technology for customers – it is a technology that improves performance when it comes to accessing the interbank market that provides liquidity for their traders. This enables not only superfast execution with MetaTrader, but also low spreads and other advantages like one-click trading.

Trading Software & Assets

For the review, we used cTrader platform. The platform has a really clean dark grey professional design. As expected, the largest part of the interface is the chart analysis, several of them actually. In the botoom are porders, open positions and transactions. On the side is the asset finder. The trading menu opens after an asset is selected. The buttons change the color based on the position taken by the traders who are trading same asset at that moment. There is even a sort-of frequency distribution for bid/ask on each side. If one enables one-click-trading, which will offer a dialogue first to accept terms and conditions. So do it before you do your first trade since you might miss trading opportunity because of the dialogue.

Pepperstone Social Trading

Pepperstone offers social trading through Zulutrade. It works by signing up with their service and using their system to copy any trades you want into your account. ZuluTrade offers CFDs social trading with more than 100,000 traders from more than 190 countries.

Pepperstone Assets

Pepperstone enables clients to trade CFDs based on a range of various assets. These are divided into several asset classes – most notable ones being

  • Indices,
  • Currency Pairs (forex),
  • Precious metals, Energy,
  • Commodities and
  • Bitcoin.

Pepperstone CFDs

Including only BTCUSD is a bit of a disappointment when we already have so many brokers, such as AvaTrade which offer a whole range of crypto currency CFDs to their traders.

[Update Dec 2017] Since we last reviewed Peppersone, they have added more cryptocurrencies to their asset list. Now, other than Bitcoin, traders can also trade Litecoin, Ethereum and Dash. The leverage for cryptocurrencies reaches up to 1:10, which is not the most in the industry. Top leverage for a crypto asset CFD we have reviewed is with Plus500, 1:30. Read more about cryptocurrencies in our crypto exchange and trading guide.

Pepperstone Customer Support

Pepperstone customer support is available through all most popular channels – chat, phone and email. Initially, a customer needs to make at least a demo account to be able to access the client area where she can use the live chat support. When we tried to figure out why our login info is not working for cTrader, we used the chat service for new customers. The service was offline so we expected email feedback when the support reopens, however we received a response in the shortest amount of time – just some minutes. This goes against the testimonials we encountered online, stating that the FCA regulated arm of the broker has a crappy support – naturally, this depends on the inquiry. When it comes to being fast acting, the Pepperstone helpdesk really does a good job.

Pepperstone Group Limited Ctrader

Minimum deposit with Pepperstone is A$200, but accounts can be opened in USD, GBP, EUR, CHF or PLN, too. There are many different payment methods which is definitely on of Pepperstone strengths:

  • Visa
  • MasterCard
  • PayPal
  • POLi
  • China Union Pay
  • BPay
  • Skrill
  • Neteller
  • Fasapay
  • Broker-to-broker
  • Bank Wire

While its nice to have a lot of e-wallets, including PayPal is a really good idea, since that is the most used payment method, other than credit and debit cards.

CWithdrawal requests placed on by the 2100 GMT will be processed the same day. Any bank fees are to be borne by the customer – usually about $20. Bank wire withdrawals are the slowest, with 1-3 days taking for the money to appear in the account.

Pepperstone is owned by Pepperstone Group Limited – a company that owns an ASIC licence and also the Pepperstone Limited – the UK arm that is regulated by the FCA since 2016.