Pepperstone Forex Trading Review
Product Name: Pepperstone Forex Trading
Product Description: Pepperstone has two forex trading platforms, MT4/MT5 and cTrader and is generally one of the cheapest brokers for forex trading. Forex trading is cheap with Pepperstone because they focus on FX as a core market rather than offering lots of stocks and less popular assets.
- Forex pairs available: 62
- Minimum deposit: £1
- Account types: CFDs, spread betting
- Equity overnight financing: (1/FX Rate) * (Trade Size*Tom Next)
- Pricing: EURUSD 0.26, GBPUSD 0.59, USDJPY 0.26
Pepperstone are able to offer some of the tightest forex spreads and commission for major FX pairs. You can also trade minor and exotic FX crosses as a spread bet or trade CFD. Although no currency futures or options. Liquidity, pricing, and execution time on Pepperstone’s platform are good, given its access to multiple Tier 1 banks.
Pepperstone’s USP, when compared to other forex brokers, is their MT4 offering for traders who want to automate their forex trading strategies. Pepperstone has done partnerships with FX Blue which measures currency strength and also has a free (for clients) package of MT4 indicators which can be used to set up and simulate, then go live with trading algorithms based on technical indicators and price action.
Forex Trading Platform
For forex traders, who want manual execution, the cTrader forex trading platform offers good functionality where you can trade directly from the charts, as well as drag and drop stops and limits.
- Good MT4 forex indicator package
- Automated forex trading
- Tight forex spreads
- No forex futures or options
- Limited forex pairs
Research & Analysis