Well-known and secure, Pepperstone is an Australia-based broker favored by both professionals and novice traders. The company operates in many countries all around the world, and it has a particularly popular branch in South Africa where lots of traders have only recently discovered all the possibilities of international financial markets. In this article, we explain how the broker works in South Africa, how it’s regulated, and why you should consider using it as a novice trader.
Founded in 2010, Pepperstone has been providing financial services for more than a decade now. It’s known for its advanced technical basis that allows the broker to execute orders extremely fast, but the reliability and lack of delays are not the only prominent features Pepperstone has. Traders also like its trading conditions: while the minimum deposit of $200 is relatively high, the broker allows you to trade using leverage rates that go all the way up to 1:400.
Pepperstones South Africa branch offers you a wide variety of available trading tools, including CFDs on commodities, stocks, indices, and Forex currency pairs. When it comes to trading platforms, you’ll be able to choose between various options, including MetaTrader 4, MetaTrader 5, and cTrader. You can’t trade cryptocurrencies in South Africa, however: it seems that the country’s government is quite opposed to the idea. By the way, let’s take a closer look at how the broker is regulated.
Security and regulation
Pepperstone is not regulated by the main South African regulator called FSCA, but that shouldn’t be a warning sign for you. The broker is regulated by many other reputable institutions including ASIC and FCA, so you can definitely trust it with your money. Pepperstone aims to keep your money protected, so your funds are kept in several major banks across the UK. The broker doesn’t mix your funds with its own money, so they can always be received back.
Pepperstone doesn’t have any withdrawal or deposit fees, and its spreads are quite tight. There are a lot of payment methods available for you to withdraw your money. If you have any problems, there’s a user-friendly 24/5 customer support service that can help you. Pepperstone also has a huge library of free educational materials that can teach you about Forex trading basics or technical and fundamental analysis. However, the broker doesn’t have any news section on its website.