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Pepperstone MT4: The Award-Winning International Broker

Analyst Team trader
Updated 29 Jul 2022

The Pepperstone trading platform Metatrader 4 (MT4) is generally acknowledged as one of the best. Admired by traders all across the globe, it’s the trading platform of choice in the Forex community.

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There are currently versions available for iOS and Windows operating systems. Windows even has added features including a Forex rates reviewer and multiterminal use. Pepperstone MT4 is user-friendly, making it ideal for newcomers to trading and experienced traders alike. It offers several tools to help traders, including technical analysis and regular market updates. This may be the finest Forex trading platform to date.

  • Quick and straightforward operations
  • Comprehensive analyses
  • Superb educational tools
  • Multiple award winner

Accessibility and making trades

Due to its flexibility and ease of use, MT4 has become a preferred platform in the industry. This why experienced traders continue to use it despite the later development of MT5. MT4 features instruments to analyse quotes and gives users the ability test trading strategies and close deals. Traders can choose to use Last In First Out (LIFO) or Hedging to offset potential losses or gains. It all depends on personal preference.

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Some alternative platforms, such as MT5, do not support hedging and use LIFO as the default. MT4 is one of 11 platforms offered by Pepperstone. It has fewer system requirements on a PC and takes less RAM than MT5. The MT4 platform is one of the most accessible for traders around the world as data is available in whichever language the user chooses. Traders are permitted to send:

  • 2 market orders
  • 4 pending orders
  • 2 execution modes
  • 2 stop orders
  • a trailing stop

Preset templates that traders can edit in terms of colours and styles make reading charts simpler. Traders can also delete any unwanted features and easily access additional information on trading. Due to its popularity, there are plenty of MT4 trading examples and additional information available online. The Pepperstone trading platform is designed to enhance trading performance by providing a trading environment, rich in useful features, which traders can customise to their personal requirements.

How to find the best Forex broker

When deciding to start trading Forex, the first step should be to undertake a comprehensive broker comparison. By comparing and contrasting the benefits and drawbacks of each broker, it becomes possible for potential traders to arrive at the best solution for their individual requirements. Assessing a broker’s trading software is an essential part of this process. MT4 is particularly popular and is available from Pepperstone for Windows operating system 2000, Vista, or 7. Pepperstone has also set up a fully functional version of the trading software to run MT4 natively on Mac OS. Originally, MT4 was not designed for Mac. However, Pepperstone MT4 for OSX allows Mac traders to avoid the need for expensive software to run the platform.

To be attractive to traders, brokers must present a trading environment that is supportive and courteous. This can be demonstrated through its level of commitment to good customer service. Pepperstone was honored with a first-place win for its customer service and overall client satisfaction. The company has also won many other awards and is proud of its highly personalised customer service performance.

Many brokers charge a hefty deposit and make it difficult to open an account. At Pepperstone, opening an account is simple and user-friendly. There is no minimum deposit and the broker offers very competitive spreads and fees with an impressive array of account funding options.

Multiple award winner

As an international brokerage, Pepperstone is regulated by the Financial Conduct Authority (FCA) in the United Kingdom and the Australian Securities and Investment Commission (ASIC) in Australia. Over the past few years, besides achieving first place for customer service and client satisfaction, Pepperstone has also received many other awards from different parts of the world. In 2017 alone, Pepperstone was awarded first place by the Australia FX Report for:

  • Education materials
  • Fund withdrawal
  • Risk management
  • Spreads
  • Value for money

Other previous awards included those for executions speed, platform reliability and platform ease of use.

Since Pepperstone is primarily a Forex broker, although it has some CFDs, it is not distracted by trading in futures, options or stocks. That is why it is well-positioned to focus all attention on Forex trading, to the benefit of its clients. Research and development projects for Forex trading are ongoing.

In 2018, more than one independent commentator has conducted a Pepperstone review to determine the company’s status as a Forex broker. This proves that competitive spreads and plenty of funding options are beneficial to traders. Account opening has been lauded as very straightforward and Pepperstone has been commended for its lack of minimum deposits. The company website functions well and is designed to be clear and simple to navigate. The customer support team is often praised for being responsive and delivering relevant answers to queries very promptly. The trading platforms Pepperstone offers, including MT4, are robust and well presented.

Superb educational tools at Pepperstone

Users of the Pepperstone trading platform reap the benefits of a wide range of educational tools made available by the company. This helps clients assess some of their best options for strategies and assists newcomers in familiarising themselves with the markets. The comprehensive list of tools includes two videos providing MT4 and C4 tutorials. It also includes:

  • Weekly sessions – 5-10 minute technical analysis of significant forex trading events
  • Forex Market Wrap – quick 3-4 minute videos on events related to Forex, which are frequently updated
  • Learn it in 3 minutes – short 3 minute videos on basics; including leverage, margin and how to calculate pip
  • Learn to Forex trade – terminology, technical analysis and basic order topics explained
  • Trading Guide – more advanced topics, including the psychology of placing the first trade
  • Webinars – 60-minute videos on trading strategy with useful tricks and tips

The Pepperstone website also contains a section featuring resources for clients – a series of articles on a variety of additional topics including historical tick data, technical indicators, trend lines and gold trading. For the benefit of those interested in learning to trade, Pepperstone provides a Demo Account with a virtual demo fund of $50,000. Wannabe traders can practice for 30 days using real market conditions and pricing.

Forex trading platforms comparison

The most useful trading platform features are those that help traders quickly analyse the financial markets and place their trade orders immediately. The range available from Pepperstone is very wide, and delivers three options for up to 11 platforms, including web trading and mobile devices.

While there are notable differences between cTrader, MT4 and MT5, all the platforms share a number of important functions. All three are all free to operate and each one features tablet and smartphone versions for ultimate convenience. Automated trading is supported and Expert Advisor (EA) trading is available. Functions include strategy back testing, customisable charts and indicators. Social/copy trading functionality is also supported across these platforms.

Despite the similarities between the MT4 and MT5 platforms, one important difference is that MT5 has a greater depth of market functionality than MT4. With cTrader, there are even more variables. Trading instrument XNGUSD is not available; it’s a relatively uncommon platform and does not offer historical data. However, cTrader does allow for adjustable session times and has detachable charts for multiple monitors. With cTrader, clients can organise Cloud-hosted profiles with password protection and access a number of useful templates.

When making their choice, traders are often influenced by the availability of charting and other visual aids. Many also like to examine historic market data as well as the current trends. The facility to execute a trade promptly can be an important bonus. Platforms providing automated trading ensure trades can be completed instantly without hassle.

MAM and PAMM at Pepperstone

Traders who utilise the MT4 platform and manage multiple accounts can use additional software to make their operations more convenient and accessible. Multi Account Manager (MAM)/Percent Allocation Management Module (PAMM) is designed specifically for this purpose. MAM/PAMM enables Money Manager to manage and trade multiple accounts from a single interface, thereby broadening the functionality of the MT4 platform.

This software provides many features and benefits including the ability for traders to operate an unlimited number of accounts and manage them using different strategies. EA trading and a wide range of order types are permitted. These include Market, Stop, Limit, Trailing Stop, Close by and Close all. There are three allocation methods: Lot, Percentage and Proportional. Traders can monitor performance and commissions in real time, with allocation as little as 1000 currency units (0.01 lot). Monthly, Quarterly and Annual client reports can all be generated using MT Manager.

Pepperstone has developed Application Programming Interface (API) technology to support clients using automated trading systems or customising personal versions. Potential benefits of being a Pepperstone API Trader include a segregated account for capital and the capacity to monitor the depth of market. Current account holders at Pepperstone with a minimum of USD$250m trading volume per month are entitled to apply for a FIX Demo Environment to test the companies FIX capabilities.

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Pepperstone partnership programmes

To encourage clients to make the most of the opportunities to work in partnership with the company, Pepperstone offers a number of schemes with incentives for introductions. A few examples of these rewarding programs are the Introducing Broker (IB) scheme, the Refer-a-Friend programme and the CPA Affiliate scheme.

Brokers referred to Pepperstone are highly valued because of the extra business they produce, so clients who introduce them via the Introducing Broker (IB) scheme are paid a commission in line with the profits the broker earns.

The Pepperstone CPA Affiliate scheme pays a flat commission for every active trader referred to them. It’s aimed mainly at digital marketers – social media commentators, bloggers, etc. In addition to this, to the commission, the company also assists the referring client with marketing plans.

The Pepperstone Refer-a-Friend scheme does exactly what you would expect. Clients who refer any new customer who funds their account with AUD $1000 or more and makes at least five standard Forex lots is rewarded with a deposit to their trading account of AUD $100 or equivalent.

Pepperstone also supports third-party partnerships and social trading. Social trading is a relatively recent development and allows traders to follow and copy trades made by others. Sometimes dealers have limited time or experience in Forex trading and they wish to have someone else trade on their behalf. This is a very cost-effective option for traders as no performance or admin fees are charged at Pepperstone.

Pepperstone MT4: clear vision for a bright future

In 2010, Pepperstone set out to spearhead the evolution of online Forex trading in more than 65 countries. Their aim was to make Forex trading opportunities more accessible to individual retail investors. The company achieved their goal of providing traders with greatly improved service, faster execution and lower spreads. Pepperstone remains absolutely committed to maintaining these high standards today.

Beyond this, the company’s vision is to become the world’s largest provider of online foreign exchange trading. Pepperstone’s steady growth and impressive performance have been notable, as demonstrated by the multiple awards they have received over the years. In addition to this, their strides in technological development have proven their commitment to modern advancement. This company has demonstrated innovation and flexibility while upholding responsible practices and meeting the highest standards of compliance. Created by traders and for traders, Pepperstone is proud of its success and progress thus far.

With the additional aim of promoting integrity and ethics throughout the industry, Pepperstone is poised to lead the way to a bright future for the industry.


The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.