Pepperstone Demo Account Review
Forex trading platforms allow any trader anywhere the ability to tap into the exciting and often lucrative foreign exchange markets. However, finding the right platform can mean the difference between profit and loss in certain cases. In other cases, a solid platform provides the means and information necessary for traders to make sound financial decisions. Many platforms offer demo accounts that allow users to experiment with the platform and decide whether it is right for them, and Pepperstone is no different in this regard. However, the Pepperstone demo account has some distinct advantages over other demo accounts that mark the company as one of the best forex platform providers in Australia. This Pepperstone demo account review discusses some of the benefits of the account.
$50,000 in Virtual Funds
With a Pepperstone demo account, Pepperstone provides the option of a fully virtual test drive of their platform. Instead of working with your own funds, this option allows you to investigate the platform fully risk free using a provided amount of simulated funds. The simulated funds are tracked just as real ones might be so that you can explore the entirety of the platform in a truly risk-free setting.
Perhaps the only downside to such a setup is the frustration of realising that an amazing forex deal that was closed was only a simulation. The generous virtual funds and true risk free nature of the account make Pepperstone demo accounts are great not only for exploring their platform, but also for beginners looking to learn how forex trading works. Furthermore, these virtual funds follow real, up-to-date spreads, so it is otherwise just like trading on the market throughout the trial period. In such an active investing environment, it is a comfortable and easy-to-use way to learn the ropes before getting started with one’s own money.
Fastest Execution Times
Experienced forex traders know that one of the biggest risks in any forex trade is the lag time between when a trade is made and when it settles. Pepperstone is the fastest forex trading platform on the market. As a result, the platform minimises transaction risk. Pepperstone prides themselves on this fact and claims to be twelve times faster than the closest competitor. The Pepperstone demo account certainly showed a minimum of lag time, though it is certainly possible that the simulated lag times are optimistic. Regardless, the company promises the fastest trading speeds among forex trading platforms. Pepperstone claims that this is due in part to fibre network access to large banks and other such liquidity providers. The company calls this facet of their platform EDGE, and it is easy to see why. The blazing speeds are certain to provide a major advantage over other platforms.
500:1 Leverage Option
Leverage is a key component for individual forex traders to see significant gains on their money. As such, a demo that lacks leverage options feels incomplete. Some companies do not provide the option for leverage in their demo products, or limit the leverage to some amount other than their usual, full-service limit. Pepperstone goes the other direction here, providing access to their full range of leverage options even in their demo product. Pepperstone platform allows a maximum leverage ratio of 500:1, and their demo platform provides the exact same range of leverage. As a result, more than many platforms, the Pepperstone demo account almost exactly mirrors its full, paid account.
This allows you to get a much fuller picture of whether the account is right for you in a risk free setting with no fees. Combined with the $50,000 in virtual funds, it is possible to experiment with multi-million dollar leveraged deals using the Pepperstone demo account, completely free of charge. This combination of features makes the demo platform great for learning more about how leverage works and what its benefits are in forex trading, particularly.
Multiple Platform Options Available and No Dealing Desk
Even in the demo version, Pepperstone allows access to a range of platform interfaces, including the very popular MT4 and cTrader programs. You won’t need to set up new software to access the Pepperstone platform, meaning you can get started on your trial all the faster. Speed and ease of setup seem to be the focus points for the company, and this results in one of the best experiences in forex trading on the market today. Similar accounts include AxiTrader and IC Markets. Market markets such as easyMarkets and Plus500 on the hand rely on risk management tools so don’t realy as heavily on execution speed.
Additionally, Pepperstone is set up to cut out brokers that can sometimes run counter to the demands of traders. While this feature is less apparent in a visual trials, it is a feature worthy of mentioning for those interested in the platform. Those who choose to stick with Pepperstone can look forward to the lack of brokerage interference.
Forex trading is most often done from a home or work computer, but sometimes it is good to be able to make a trade while away from the office from a smartphone or similar device. The Pepperstone demo account has apps that provide the capability to make such trades while abroad for a number of different devices, including Android, Apple and Microsoft devices, so you never have to pass on a good trade because of your location. In our Pepperstone review we go into more depth regarding the compatibility of its platforms across devices.
Risk Free, Full Service Trial; What’s Not to Like?
This Pepperstone demo account review has already mentioned the risk free nature of this trial in passing, but what sticks out so particularly is the full service nature of this trial. During the trial, you get full access to leverage options, full compatibility with the most popular platforms and the fastest transaction executions available today. The virtual funds help those who are not familiar with the program learn its ropes, for forex investors to practice their technique or for new investors to learn the basics of forex investing before jumping in. Factor in the generous duration of the trial, a full thirty days, and it is easy to see why many forex investors are trying Pepperstone’s platform.