Pepperstone Review
For South African Traders
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 an FCA UK & ASIC Australia regulated forex broker with no minimum deposit & razor thin spreads
| 👨Broker Name | Pepperstone |
| 👨 Accepts South African Traders? | Yes |
| 👨 Founder | Owen Kerr |
| 📅 Year Founded | 2010 |
| ⚖ Regulators | CMA Kenya |
| ⚖ License No. | 128 |
| 📈 Instruments | Forex, Commodities, Indices, Currency Indices, Shares, ETFs |
| 🚀Leverage | 1:400 |
| 🔎Auditors | Ernst & Young |
| 💻 Platforms | MT4, MT5, cTrader,TradingView |
| 📋Account Types | Standard, Razor |
| 💰 Minimum Deposit | $1 |
| 📞Live Support | 24/5 |
| 🏖️ Inactivity Fee | None | ❌Retail investors who lose money trading CFDs with Pepperstone | 83% |
Is Pepperstone Available in South Africa?
Yes, Pepperstone is available in South Africa under the regulatiom of the Capital Markets Authority (CMA) Kenya who licensed them to operate as a non-dealing forex broker.
Pepperstone is not regulated by the FSCA in SOuth Africa, instead their regulation comes from Kenys.
| Pros | Cons |
| ✅CMA regulation | ❌No domestic FSCA regulation |
| ✅Pepperstone has over 10 years of experience in forex brokerage | |
| ✅Pepperstone accepts South African traders |
What is Pepperstone Leverage in South Africa?
Pepperstone allows a leverage of up to 1:400 in SA. You trade all instruments as CFDs so you dont own the underlying instruments.
- 90+ Forex pairs with up to 1:400 leverage
- Major Indices
- Minor & Currency Indices
- Shares
- Other Metals & Oil
- Energies
- Commodities
| Pros | Cons |
| ✅Wide range of instruments | ❌Leverage is mandatory |
| ✅Currency indices make for diversification | |
| ✅No need to own the underlying asset | |
| ✅Speculate on the US election |
Does Pepperstone Have ZAR Base Currency?
No, Pepperstone does not offer ZAR base currency accounts to South African traders. You can open a USD account if you wish.
What Are Pepperstone Account Types?
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.
Standard Account (1 USD)
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.
Razor Spread Account (1 USD)
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. .
| Pros | Cons |
| ✅Demo Account for experimenting | ❌Standard Account users are excluded from using TradingView |
| ✅No minimum deposit required to open an account | ❌No ZAR base currency |
Does Pepperstone Offer 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).
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.
How Do I Open a Pepperstone Account?
- Go to Pepperstone’s website and click on Join Now.
- Select if you want to sign up with your Apple Account, Google Account, or Facebook Account
- Create a profile by filling in KYC & personal information &creating a password
- Choose your preferred trading platform
- Choose your desired account type (Standard or Razor)
- Select your account base currency
- Verify your account by uploading your government ID & proof of residence
What is Pepperstone Minimum Deposit in ZAR?
Pepperstone minimum deposit in South Africa is 18 ZAR.
Does Pepperstone Accept PayPal?
Yes, Pepperstone accepts PayPal in South Africa.
How much is Pepperstone Minimum Withdrawal?
If there are open trades on the account, the maximum amount that can be withdrawn is 90% of your free margin.
What Are Pepperstone Fees?
Standard Account Fees
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.
Razor Account Fees
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.
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.
Pepperstone charges a swap fees on overnight tyrades
Pepperstone does not charge an inactivity fee on dormant accounts.
| Pros | Cons |
| ✅Spreads are competitive & not higher than industry averages | ❌No swap-free instruments |
| ✅No inactivity fees | |
| ✅No withdrawal fees |
What Trading Platforms Does Pepperstone Offer?
Pepperstone Trading Mobile App
The Pepperstone thas a new mobile app for trading on the go.The app is available for Android and iOS devices
Pepperstone cTrader Mobile App
cTrader users also get the mobile version of cTrader customized for Pepperstone. its also available for android & iOS
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.
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.
| Pros | Cons |
| ✅Wide range of platforms to choose from | ❌Standard Account users are excluded from using TradingView |
| ✅Free MetaTrader performance upgrade plugins | |
| ✅Autochartist tool works with the platforms | |
| ✅cTrader automate tool for writing code to build cBots | |
| ✅API tool lets you feed data gotten from Pepperstone, into your trading robot | |
| ✅Lots of MT4 video tutorials |
How is Pepperstone Customer Support?
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:
Live chat
The live chat gives you an instant response to your queries on business days and within business hours.
Phone Support
You can get an immediate response when you reach out through the phone for support within business hours.
You can get a response to your email within 24 hours on business days.
Education
As part of customer support, Pepperstone provides video tutorials and installation guides for its platforms.
| Pros | Cons |
| ✅Social media presence | ❌No live support during weekends |
| ✅Video tutorials are helpful | |
| ✅Short hold time on Live Chat |