73% of retail investor accounts lose money when trading CFDs with this provider
- Good Money Guide experts note that while Pepperstone's demo account allows users to test MT4 and MT5 with a balance of up to £50,000, it falls short compared to the live trading experience. The demo offers limited market access, with only a handful of forex pairs available and no ability to set custom leverage, which detracts from its overall utility. Despite these limitations, the live account has received high praise for its performance and features.
- Across 110 user reviews on Good Money Guide, averaging 4.7/5, customers frequently commend Pepperstone for its reliable execution, competitive pricing, and excellent customer service. Many users highlight the platform's ease of use and the quality of support provided by account managers. However, some users express concerns about recent changes to trading policies, such as the banning of hedging, which may affect their trading strategies.
Pepperstone Demo Trading Expert rating
Our expert rating is the average of the areas listed here, each scored out of 5 by our team.Our experts have rated Pepperstone Demo Trading across five key areas of our review framework.
- Pricing5.0
- Market Access1.0
- Online Platform4.0
- Customer Service4.0
- Research & Analysis1.0
Pros
- Tight pricing
- Set your own virtual funds
- MT4 web and app version
Cons
- Limited market range
- No indicators
- Cannot set your own leverage
See full expert review
Our verdict
Pepperstone's demo account gives you a balance of up to £50k to test MT4 for 60 days with access to 20 major forex pairs. 73% of retail investor accounts lose money when trading CFDs with this provider
Is Pepperstone's Demo Account Any Good For MT4, MT5 In The UK?
Pepperstone does have a demo account for MT4 and MT5 for UK and international traders to try before they open a live account. But, there are a few things to be aware of. I tested the Pepperstone MT4 demo account and compared it to the live account, as it doesn't really give a good overview of the true scope of Pepperstone's MetaQuotes offering.
However, Pepperstone's demo account isn't that great compared to their live trading platform. Yes, you can trial the standard, Razor or spread betting demo, you can also choose how much you want to trade with from £200 to £50,000.
But, you only get access to a handful of forex pairs (no commodities, stocks or indices) and you can't set your own leverage, something you can do with other MT4 demo accounts. It's a real shame, because the live MT4/5 account from Pepperstone is excellent, it has won "best MT4 broker" in our awards many times, but the demo really lets them down. You also don't get access to any of the indicators, or research that you do with the main account.
Customer reviews for Pepperstone
Customer ratings come from reviews left on this site. Every review is read and approved before it is published.Based on 110 reviews
- Excellent83%
- Very good7%
- Basic8%
- Poor2%
- Bad0%
Read customer reviews
The best. Needs to improve...
The best. Needs to improve in a dashboard but is the best.
Brilliant platform, excellent risk management...
Brilliant platform, excellent risk management tools and great execution.
Best cTrader platform
Best cTrader platform
Very focused on customer ...
Very focused on customer support and on line webinars
I have used Pepperstone for...
I have used Pepperstone for a few years, very good service, fee’s are low, I liked using the platforms available, excellent webinars, weekly premarket webinar, super useful. Easy to pay to my account and withdraw. Overall a very good experience with Pepperstone and I will continue to use them.
Ever better
Ever better
x
x
Great value for money. Great...
Great value for money. Great customer service
Simple, contains what you need...
Simple, contains what you need to trade and no gimmick features
5/5
great UI/UX, very intuitive user...
great UI/UX, very intuitive user flows - i can quickly get most of my key actions done. Minimal friction
3/5
Pros:
Not used
Cons:
Don't use
5/5
Pros:
Technology and research information. Overall fees, deposits and withdrawals
Cons:
Nothing
4/5
Pros:
Its MT4 which is my favourite platform
Cons:
Nothing
5/5
Pros:
Everything is awesome. I love to trade with pepperstone. IÔÇÖm so that pepperstone is giving us chance to trade. Thabk you!
Cons:
All the things
3/5
Pros:
No comment at this moment
Cons:
No idea
5/5
Pros:
I would say the 1:400 leverage on currencies
Cons:
no ideas on this one
5/5
4/5
Pros:
genuine and good support
5/5
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.