Pepperstone – what we know and have as facts about it; Pepperstone was established in 2010 and is a trading name of group of companies that includes: Pepperstone Limited, which is authorized and regulated by the Financial Conduct Authority (FCA) under the license number 684312; Pepperstone Group Limited, which is licensed by the Australian Securities and Investments Commission (ASIC) under license number 414530; Pepperstone Financial Services (DIFC) Limited, which is authorized and regulated by the Dubai Financial Services (DFSA) Authority under license number F004356; and Pepperstone Markets Limited, which is authorized and regulated by the Securities Commission of the Bahamas (SCB) under license number SIA-F217. These licenses allow it to conduct various financial services, including receiving, transmitting, and executing customer orders.
We have found in the Terms and Conditions document that Pepperstone enters into each contract with clients as a principal, not as an agent on client’s behalf. Pepperstone may have a conflict of interest in acting as principal on both sides of a transaction. Because of the nature of the financial products that it provides, the company can sometimes have residual long or short contracts as a result of total client volume in one particular direction. This means that Pepperstone is a market maker. In general, dealing with market makers involves a conflict of interest because they do not transmit every customer deal and hope that customers will lose. Every loss of customers is their profit.
We also found that there are some posts in forums about extremely wide spreads, changing abruptly, poor customer support, unjustified termination of accounts when they become profitable, problems with withdrawals, and inability to trade during news.
So far, we have not received any complaints from customers of Pepperstone. If you have any criticism to share with us or feel annoyed by Pepperstone, please fill in the form below, detailing your case. Once we have made your case public, we may attempt to mediate between you and Pepperstone if you wish.