Pepperstone Kenya Review
For Kenyan Traders
!! Regulator Warning !!
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Their admin fee on swap-free accounts is kind of high. I had to opt out of the swap-free arrangement.
They are number one in Kenya as far as im concerned. Excellent platforms, no minimim deposit, works with MPESA and PayPal; just a great broker.
This broker is best for MT4 especially if you use expert advisors. No issues at all
This broker is best for MT4 especially if you use expert advisors
They should work on their mobile app, depositing via the app is very slow and the app user interface is not userfriendly, you struggle to look for certain buttons which could have been clearly positioned.
Customer service is not too good but they are very reliable and do not try to cheat you like some brokers do. Their trading software is also very high quality and theres no downtime
Pepperstone has been my trading broker for 3 years now on and off and they are really professional and offer a lot of instruments and tools to help you win. They however need to improve on their customer support and assign account managers to traders to make their service more personalized instead of only communicating through email
In my opinion Pepperstone has the best MetaTrader platform handsdown ! The speed, features, and quality of the MetaTrader is unmatched
What attracted me to Pepperstone was their research and analysis which has made me a better trader
Pepperstone is a heavyweight in the forex industry and we in Kenya are grateful that they operate here under CMA regulation. I began trading with them 3 years ago and although I feel they need to localize their customer support for Kenya, they are simply the best in terms of number of markets you can trade, trading tools and trading software
I can confidently say Pepperstone has the best trading platforms, no freezing, no downtime etc. I have used several trading platforms but theirs is great. My advice is they should improve on customer service & make it more personalized cos right now it feels robotic.
Great broker with lots of instruments to trade especially Indices and a solid MetaTrader setup. I luv em!!!
I just setup my MT4 demo account on Pepperstone and it runs smoothly. Initially I had difficulties setting it up but I sent them an email and they fixed it from their end within 5 minutes. Well done Pepperstone!!!
Very nonchalant customer support, they are slow to respond to queries. Its like once you open an account they forget about you and let you figure it out on your own. Since I opened my account I have not been able to use it because nothing is working and nobody has bothered to contact me
Account setup time is too long. I finally downloaded the Peppertone MT4 but setting it up was a real issue. When I login with the demo account details the screen will go blank. Honestly I have setup accounts faster with other brokers so I didn't expect it to take so long with Pepperstone
I love using their demo accounts for back testing my trading strategies because it can be configured in such a way that it will not expire. Pepperstone is the reason I began forex trading 3 years ago because their education was so rich and their customer support was helpful.
Overnight fees/swap rates are rather high and keep changing. I hope it is not being manipulated.
My favorite forex broker I love trading currency baskets with them and also love their education and TradingView
For me my experience was bad customer support during account opening. They kept rejecting my documents and not responding to emails. I think they should be more organized and assign personal account managers to follow up with new clients.
I don't have anything bad to say about Pepperstone. I love their MPESA integration and the fact that they are the only CMA regulated forex broker in Kenya with no minimum deposit requirement.
Pepperstone is a CMA regulated forex broker with no minimum deposit, advanced trading tools & USD trading accounts
| 👨 Broker | Pepperstone |
| 👨 Accepts Kenyan Traders? | Yes |
| 👨 CEO (Kenya) | Sahil Patel |
| 📅 Year Founded | 2010, Australia |
| ⚖ Regulators | CMA Kenya |
| ⚖ License No. | 128 |
| 📈 CFD Instruments | Forex, Commodities, Indices, Currency Indices, Shares, ETFs |
| 🚀Leverage | 1:400 |
| 🔎Auditors | Ernst & Young |
| 💻 Platforms | MT4, MT5, cTrader,TradingView |
| 📋Account Types | Standard, Razor |
| 📋Account Currency | EUR, USD, GBP |
| 💰 Minimum Deposit | $0 |
| 📞Live Support | 24/5 |
| 🏖️ Inactivity Fee | None | ❌Retail investors who lose money trading CFDs with Pepperstone | 86% |
| ✅Reason To Trade | |
| ❌Reason To Avoid |
Regulation & Trust - 10/10
Where Was Pepperstone Founded?
Pepperstone was founded in Australia in 2010, where they are regulated by the Australian Securities & Investment Commission (ASIC).
Is Pepperstone Available in Kenya?
Yes, Pepperstone Markets Kenya LTD. is available in Kenya under the regulation of the Capital Markets Authority (CMA) who licensed them to operate as a non-dealing forex broker.
Pepperstone is available in the UK under the regulation of the Financial Conduct Authority (FCA) in the United Kingdom.
Pepperstone is also regulated by the Financial Services Authority (FSA) in Mauritius as a Full Service Dealer.
Pepperstone Kenya Regulation Summary
| 📍Country | ⚖️Regulator | #️⃣License No. | 📅Date License Issued | 🔒Trust |
| Kenya | CMA | 128 | 2020 | High |
| United Kingdom | FCA | 684312 | 2015 | High |
| Australia | ASIC | 414530 | 2013 | High |
| Mauritius | FSC | xx | 2021 | Low |
Pepperstone Withdrawals & Deposits - 10/10
What is the Minimum Deposit at Pepperstone Kenya?
Pepperstone minimum deposit is $0. You can deposit any amount as far as it is enough to cover the initial margin requirement for the instrument you want to trade.
Funding & Withdrawal Methods
1. MPESA
Pepperstone accepts MPESA as a means of funding/withdrawal & the processing time is instant.
2. PayPal
Pepperstone accepts PayPal as a means of funding & withdrawal in Kenya. The processing speed is also instant.
3. Bank Transfer
You can deposit into your Pepperstone trading account by making a transfer from your bank account to the account Pepperstone will give you.
The processing time for Pepperstone deposits using the bank transfer method is instant.
4. Visa & Master Cards
Pepperstone accepts Visa and MasterCard as a means of funding and the processing speed is 24 hours.
5. Neteller & Skrill
Pepperstone accepts eWallet funding methods specifically from Neteller & Skrill. Processing time is instant.
5. International Bank Wire
You can fund your Pepperstone account using international bank transfers but it takes a longer time (around 5 days) and a $20 telegraphic fee may apply.
6. Flutterwave
Pepperstone Kenya allows you fund your trading account using Flutterwave and the cost is free & speed is instant.
7. Apple Pay & GPay
Pepperstone now accepts funding through Apple Pay & GPay methods.
What is Pepperstone Minimum Withdrawal?
Pepperstone minimum withdrawal is $0 so you can withdraw any amount you want.
However, if there are open trades on your account, the maximum amount that can be withdrawn is 90% of your free margin.
How Long Does Pepperstone Withdrawal Take?
Withdrawals at Pepperstone kenya are instant except when you are withdrawing through international bank wire then it can take up to 5 days.
You must send in your Pepperstone withdrawal requests before evening so that you can get the funds instantly, if not the withdrawal will be processed the next day.
Range of Accounts - 8/10
1. Demo Account (virtual funds)
Pepperstone’s demo account helps you test and develop your trading skills before opening a live account.
The demo account is not meant for new traders alone, experienced traders can also test new products and strategies on the demo account..
Pepperstone provides 50,000 virtual funds to enable you to practice, develop your skills, and build your confidence.
2. Standard Account (no minimum deposit needed)
The Standard Account gives you access to all trading instruments with competitive pricing. The standard account is available on cTrader, MT4, and MT5 platforms.
The Standard Account is suitable for beginners and mid-level traders who like a simple account and prefer having their commissions integrated with spreads.
3. Razor Spread Account (no minimum deposit needed)
The Razor Account at Pepperstone is suitable for more experienced traders because its pricing structure is more complex, involving commissions per trade alongside low spread.
The advantage of the Razor Account is that spread constitutes a lower barrier to your profitability so your trades become profitable quicker.
Razor Accounts are popular with scalpers and traders who want to run Expert Advisors & is available on cTrader, TradingView, MT4, and MT5 trading platforms. .
4. Managed Accounts
Pepperstone also offers managed accounts so at the point of opening your account, you must select if your account is going to be managed by an authorized online forex money manager.
Account Management - 6/10
Negative Balance Protection
Pepperstone Kenya offers Negative Balance Protection so that you don't lose more than you deposited.
Even if your Pepperstone account balance goes into negative due to volatility Pepperstone will refund the negative balance and make your account balance zero again.
Trading Account Currency
Pepperstone Kenya does not offer KES account currency. Pepperstone offers EUR, USD & GBP account base currencies instead.
If you deposit in a currency that is different from your account base currency, Pepperstone currency conversion fees as high as 1% will be applied.
Maximum Number of Pepperstone Accounts Per Client Area
You can open up to 10 MT4 Accounts at Pepperstone Kenya.
You can also open an unlimited number of MT5, cTrader & TradingView Accounts at Pepperstone Kenya.
Editing Leverage on Your Pepperstone Account
You can edit & change the leverage on your Pepperstone trading account as many times as you wish; there is no limit.
Note that Pepperstone does not offer dynamic leverage. All the leverage limits at Pepperstone are fixed
Margin Call & Stop Out
Pepperstone Margin Call will come when your Margin Level falls to 90% and you will be Stopped Out of all your trades when your Margin Level falls to 50%.
How To Open a Pepperstone Account
Go to Pepperstone’s website and click on Join Now, then select if you want to sign up with your Apple Account, Google Account, or Facebook Account
Create a profile by filling in your personal details after which a demo account will be automatically created for you
You will get a prompt telling you your demo account is ready & you will be given the option of upgrading to a lice account, proceed to click on the upgrade button
After clicking on upgrade, select your preferred trading platform, account type, leverage & account currency; then opt to integrate copy trading into the platform by toggling the copy trading switch.
You will be redirected to your client area where you can add trading accounts and upload your government ID & proof of residence.
Range of Markets - 9/10
| 🛒CFD | #️⃣Number | 🚀Leverage | 🌙Swap Free Trading |
| Forex | 90+ | 1:400 (Major, Minor) 1:10 (NDFs) | No |
| Equity Indices | 23 | 1:400 | No |
| Currency Indices | 3 | 1:200 | No |
| Gold & Other Metals | 17 | 1:400 | No |
| Energies | 4 | 1:143 | No |
| Agric commodities | 16 | 1:50 | No |
| Shares & ETFs | 100+ | 1:20 | No |
| Bonds | Unavailable | Unavailable | Unavailable |
| Crypto | Unavailable | Unavailable | Unavailable |
1. Forex CFDs
Pepperstone in Kenya offers over 90 forex pairs for trading; you get all the major pairs including minors and Non Deliverable Forwards (NDFs).
2. Currency Index CFDs
Pepperstone in Kenya allows you trade CFDs on baskets of currencies such as the U.S. Dollar Index (DXY), Japan Yen Index (JPYX) & the Euro Index (EURX).
3. Equity Index CFDs
Pepperstone in Kenya lets you trade Nasdaq & other popular indices such as VIX, US30 etc.
You can also trade the South Africa 40 (SA40) indices at Pepperstone, giving you exposure to the African capital market.
4. Metal CFDs
Precious Metals such as Gold & Silver can be traded at Pepperstone Kenya. Other metals such as Copper, Aluminum, Nickel, Lead & Zinc can also be traded.
5. Agric Commodities CFDs
Cattle, Cocoa, Coffee, Corn, Cotton, Sugar, LeanHogs, Lumber, Oats, Soya Beans etc. are available for trading at Pepperstone in Kenya.
6. Share & ETF CFDs
U.S., UK, Hong Kong, EU, German & Australian share CFDs are available for trading at Pepperstone Kenya. Pepperstone also pays dividends on this shares, whenever the companies behind the shares issue dividends to shareholders.
Pepperstone Fees - 6/10
| Account Type | ✂️Avg. Spread | 💰Commission per side | 💱Currency Conversion Fee | 🌙Overnight Fees | 😴Inactivity Fee |
| Standard Account | From 1.0 pips | $0 | Yes | Yes | No |
| Razor Account | From 0.0 pips | $3.5 per side | Yes | Yes | No |
1. Spread
The Standard account has a variable spread starting from 1 pip. No commission is charged when trading on the Standard account as it is integrated in your spread.
The Razor account has a raw spread starting from 0.0 pips. Commissions on the Razor account is charged based on the platform that’s being used to trade.
2. Commission
On the MT4/5 and TradingView platforms, there's a commission charge of $3.50 or £2.25 per lot per size.
On cTrader, a commission of $3 per lot per size. On the Pepperstone trading platform, there's a commission charge of $7 round-trip.
3. Rollover Fees
Pepperstone charges a swap/rollover fees on overnight CFD trades. There are no swap-free instruments at Pepperstone Kenya so you have to pay to rollover trades on all instruments, into the next day.
4. Inactivity Fee
Pepperstone does not charge an inactivity fee on dormant accounts.
Trading accounts that have not had any trading activity over the last 3 months will be archived so that they don't take up resources on Pepperstone servers
Is Pepperstone A Market Maker in Kenya?
No, Pepperstone Kenya is not a Market Maker because their CMA license does not permit market making activities.
Pepperstone in Kenya holds a non-dealing forex broker license meaning they cannot act as counterparties to your trade (which is what market makers do).
Trading Platforms - 10/10
| 💻Trading Platform | ❓Availability |
| MT4 | Yes |
| MT5 | Yes |
| Proprietary Apps | Yes |
| cTrader | Yes |
| TradingView | Yes |
1. Pepperstone Trading Mobile App
Pepperstone has a new mobile app for trading on the go. The app is available for Android and iOS devices. The app is useful because if your MetaTrader is unavailable or freezing, you can quickly use the mobile app to trade in the interim.
2. Pepperstone cTrader Mobile App
cTrader users also get the mobile version of cTrader customized for Pepperstone. its also available for android & iOS
3. TradingView Charting Platform
Pepperstone traders who open the Razor Account can go to the TradingView website and connect their accounts to TradingView charts.
TradingView charts are more feature-packed, have better tools, & are easier to use than MetaTrader charts.
How To Connect Pepperstone To TradingView
Log in to TradingView
Visit the TradingView website, click on sign in and you get the option to sign in with your Google Account, Apple Account, LinkedIn Account, X Account, or email. elect any sign in method to proceed.
Choose an instrument to trade
To select an instrument to trade on TradingView, click on Markets and then select any instrument of choice.
Navigate To Super Charts
After choosing an instrument to trade, opt to view the instrument on Super Charts by clicking on the "see on super charts" button.
Open Trading Panel
To see a list of brokers on TradingView, click on Trading Panel.
Proceed to expand the trading panel by clicking on the expand icon by the bottom far right hand side.
Choose Your Broker
After the trading panel opens, you will see a list of all the forex brokers on TradingView.
Select Pepperstone from the list of brokers and connect with your Pepperstone account details.
4. Pepperstone MetaTrader
Pepperstone provides MT4 alongside free plugins that make MT4 feel more modern & up to date.
Pepperstone also provides the MT5 platform which is ideal for trading Stock CFDs.
Trading Tools - 8/10
1. Free MetaTrader Upgrade EAs
Pepperstone provides Smart Trader Tools which are basically downloadable MT4/5 Expert Advisors (EAs) that complement your MetaTrader and make it work better.
Pepperstone Smart Trader Tools includes EAs such as Alarm Manager, Correlation Matrix, Excel RTD, Mini Terminal, Sentiment Trader, Market Terminal etc.
2. CTrader Automate
CTrader Automate is basically a Pepperstone API that enables you extract data from Pepperstone, & feed the data to your cBot.
3. Autochartist
At Pepperstone, Autochartist is built into the Mt4/5 platform and this makes it easier to use.
3. Pepperstone Copy Trading
Yes, Pepperstone offers copy trading but doesn’t do so directly, instead they have partnered with a platform called Signal Start.
Signal start works on both MT4/MT5 platforms meaning you can copy trades from any MetaTrader users (cross-platform compatibility).
Remember to activate the copy trading integration at the point of account opening.
To copy trades there’s no minimum deposit. However, to provide the strategies, you need to have a minimum balance of $100, have a trade mileage of 30 days (about 4 and a half weeks) or 50 trades.
For copy trading fees at Pepperstone, you pay a $25 flat fee to copy trades.
To provide signals to others, the fee is 30% of what you charge copiers & this fee goes to Signal Start.
Video Review of Pepperstone Activities in Kenya
Customer Support - 5/10
Pepperstone offers a 24/5 customer support is available from Monday to Friday between 7:00 am – 8:00 pm GMT and you can reach out via these channels:
1. Live chat
From your personal area, you can chat with a live agent but wait times can reach 3 minutes till you get a response and sometimes after waiting for minutes you are told that live chat is unavailable. This is not good.
2. Phone Support
You can get an immediate response when you reach out through the phone for support within business hours.
3. Email
You can get a response to your email within 24 hours on business days.
4. Education
As part of customer support, Pepperstone provides video tutorials and installation guides for its platforms.
| 🎧 Live Chat Support | Yes |
| 📧 Email Support | Yes |
| 📞 Telephone Support | Yes |
| 📖 Help Center | Yes |
| 👨 Personal Account Manager | No |
| 👩🏫 Academy | Yes |
Final Verdict - 8/10
| 🏛️ Broker | ⚖️ Regulation | 💰Deposit & Withdrawals | 💱Account Types | 🧹Account Management | 🛒Range of Markets | ✂️Fees | 💻Platforms | 🛠️Tools | 🚑Support | 🏆Score |
| IC Markets | 10 | 10 | 7 | 8 | 9 | 8 | 8 | 8 | 9 | 8.6 |
| HFM | 10 | 10 | 10 | 10 | 8 | 7 | 5 | 8 | 9 | 8.6 |
| Pepperstone | 10 | 10 | 8 | 6 | 9 | 6 | 10 | 8 | 7 | 8 |
| Exness | 10 | 10 | 10 | 6 | 5 | 7 | 8 | 5 | 8 | 7.8 |
| FXPesa | 10 | 9 | 5 | 5 | 7 | 4 | 5 | 4 | 7 | 6.2 |
| Scope Markets | 10 | 5 | 5 | 6 | 9 | 6 | 3 | 3 | 7 | 6 |
Pepperstone is one of our Best Forex Brokers in Kenya for Beginners because they provide adequate trading tools to help any beginner learn how to trade.
Pepperstone customer support is not as good as what competition offers but its above average and any serious trader should be able to cope.