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
3/5
Pros:
Dealing
Cons:
Tighter spreads
3/5
Pros:
Great customer service and low fees
3/5
4/5
Pros:
cfds & spreadbet
Cons:
increase range of SB assets
3/5
Pros:
?
Cons:
don't use enough to comment
2/5
Pros:
none
Cons:
change there platforms
5/5
5/5
5/5
Pros:
The platforms, detailed attention to client service
3/5
5/5
5/5
Pros:
TradingView integration
Cons:
Customer service
5/5
5/5
Pros:
Spread rate
Cons:
Deposit rates
5/5
5/5
Pros:
Ease of use
Cons:
lowering the commission
5/5
Pros:
Everything about Pepperstone is great, from their customer support, educational materials, trading platform, fees. Etc I am glad that I found this particular broker.
Cons:
At the moment I can't think of anything
5/5
Pros:
Tight spreads and excellent service
Cons:
Very happy at the moment
5/5
Pros:
Great customer support
Cons:
Offering more products
5/5
Pros:
Very good execution
Cons:
Add futures
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.
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