Pepperstone reviews - Regulations, Platforms, Instruments & Ratings

i have money in my pepperstone account right now and i cannot withdraw the money they say i should add more

Lowest price on gold at 15:30 13/10/2022 is 1653.41, my order filled at 1651.12 and SL filled at 1661.46, both price point never happen on chart. Hair cut my account over 1k$, unacceptable. Using over many year and this is the point i say good bye for good to this broker

Pepperstone is an overall good broker or so it seem so , because while they may look clean they actually use some very nasty tricks to make sure you will never win, i myself never caught them until i had a conclusive proof, that i like to share with you today , so that you will not get scammed like i did.

Everyone knows that trading news is one of the best ways to trade , so on the 08/07/2022 (dd/mm/yyyy) i was waiting for the nfp news to trade them , usually i set two pending orders one buy and one sell and i make sure to have quite big distance between them to make sure that i don't get slipped , and so i did , i opened a buy pending order in Gold at a price of 1743.95 and a sell pending order at 1738.20 few minutes before the news that were set to be released at 13h30 (GMT+1), once the news released i was shocked to see that my buy pending order not ony was opened but it was opened at a price of 1753.72 which one could say that's good news your trade will be wining , sad to say it was not , even more in less than one second the trade was losing 255 euros and opening the other sell order which was also losing 10 euros , which end up blowing my account away. usually i don't think much of it but this time i was watching another guy trading that same asset on a different broker live and his price went directly down , so it got me thinking and i went and start comparing the candles of different brokers with pepperstone , and pepperstone was the only one who had such candle , it's sad that i can not post an image here but you can actually check it yourself

if you check the price action on that specific date at that specific time you can see that a broker such as OANDA

https://www.tradingview.com/chart/?symbol=OANDA%3AXAUUSD

never had a candle with a buy wick so tall , on the other hand pepperstone

https://www.tradingview.com/chart/?symbol=PEPPERSTONE%3AXAUUSD

candle was all over the place in matter of fact no trader could have won on that specific time.

I contacted them and explain to them , that they need to refund me because the price never reached my pending order and that on a normal scenario ony the sell pending order should have opened , and i only got a response of that you were slipped , i mean which slippage can go 1000 points , even the best traders can not wish to make such pips.

So my advice keep your money away from them because they will steal them , in front of your own eyes and you can do nothing about it

I had a good experience with this broker except that they closed my account because they stopped dealing with clients from my country according to what they said .

Here is my email to their "support" team - sent 28 June 2022 and still no reply

Good day,

I do have an account with you.

I'm based in South Africa and originally did a transfer into my trading account via my Mastercard.

When I had a look under the withdraw options it indicated that the only option was bank wire transfer and Neteller (we are not allowed Neteller accounts in SA).

I then spoke with an agent on the website chat who said withdraws to my card are blocked because of the region I'm in.
(Should Pepperstone accept deposits via this method knowing that withdraws are blocked? That future withdraws are blocked too!! What will regulating bodies have to say about this? I feel scammed!!).

I would have to make a deposit via Paypal and then withdraw.

I then made a small deposit via my Paypal account. Assuming I'm verifying that the Paypal account is mine.

Now the Pepperstone website indicates that I can only withdraw the amount I deposited via Paypal and not the full amount in my account.

What does that help?

Please assist in providing ways for me to withdraw free of charge and close my Pepperstone account. As this is the impression that you created when I made the deposit.

I will not hesitate to get the regulating bodies involved and also websites like forexpeacearmy etc. I am highly annoyed.

Kevin Strydom

I have received my funds with a lot of effort in email communication
Finally I have received my money.

Apr 23, 2022 - 1 Star I am very very disappointed with their withdrawal services

When I asked to live chat agent they told me they charge only $3 per transection fees so I will receive $9997 for $10000 withdrawals But For a withdrawal of $108000 USD in USDt and I Received only 101813.9 USDt only they charge $6186.1 for process my withdrawal

The next day again I made another $40000 withdrawal and got only $37897 they made a charge of $2102 
I didn't see this much of a charge in any broker

I raised ticket to support they given me replay below

"Thank you for your reply.
Your withdrawal of USD has been converted to USDT at the live conversion rate. This rate is subject to fluctuations as it is a live conversion.
We can see that your previous withdrawals were converted from USD to USDT at the conversion rate of 1.0608.
Any discrepancy in the amount sent by Pepperstone and the amount received in your USDT blockchain wallet address may be due to blockchain transfer fees which are out of Pepperstone's control and we do not receive the fee income from these charges.
If you have any further questions, please let us know.
Thank you for your understanding.

Sophie
Pepperstone Accounts"

Conversion rate they mentioned never happen since USDt inception

Reply by Martin submitted May 5, 2022 Hi there,

Thank you for your feedback and we are sorry to hear that your experience with Pepperstone was not a positive one.

Please be advised that we are looking into your case and will be updating you soon via email.

Thank you for your patience.

I opened an account with pepperstone.
Before my account was verified i did a stupid move and that is funding my account...once i funded my account with 100 usd tge2y kept refusing the documents i uploaded so many times & when i asked them to give me back my money which is my legitimate right since they refused to verifyy account they never replied....irony when i submitted the same documents in another broker they verified my account in a matter of hours LOL!!! SO STAY AWAY FROM PEPPERSTONE...THEY STILL OWE ME 100 BUCKS

I tried to deposit. also I dont know how many stars to drop. I have not enough experience with them.

the available ways are paypal, neteller, skrill, and credit card and others....

but when I tried to deposit using neteller they freezed my money,

its very clearly a scam, as well with skrill.
N perhaps paysafecard, its of course not safe in my case...

anyone would think they are clearly a scam! and thats what they say... I lost ABOUT 60 usd OF money there.

PAYPAL AND CARD WORKS BEST.

pepperstone is suspicious!

YOU ARE NOT A 5 STARS BROKER LOL! WHAT A WASTE, I hope you grow some day. TAKE IT AS A POSITIVE CRITIC.

GOOOD LUUUCK ALL TRADERS WITH EVERYTHING!

I wrote the customer service on email asking them to process a broker to broker transfer out of my pepperstone and they agreed. They asked me to send them the confirmation document from my other broker. When I attached the document a different agent replied to my email saying that they don't process broker to broker transfers. My funds are now stuck at pepperstone because I can not withdraw to my bank account which has been hit by sanctions. The only way is to transfer the funds to my account in a different ASIC regulated broker where I can transact in crypto.

Just the other day, I talked to the online agent and they assured me that they would never close my positions without my authorization( Assuming I have enough margin). Barely two weeks were over and they closed my positions without a warning citing random clauses in their contract. I am utterly disappointed with there customer treatment. I wouldn't recommend anyone to trade with Pepperstone.

I know there is spread widening at rollover periods.

It's acceptable as the spread widening below 200 points but a whooping over 500 points spread widening in just a tick is can't acceptable.