Pepperstone

Pepperstone Group Limited
Private
Industry Financial services
Founded 2010 (2010)
Headquarters Melbourne, Australia
Key people
 Owen Kerr (Co-founder & CEO)
Joe Davenport (Co-founder & Director)
Services currency trading, foreign exchange
Number of employees
 103
Website pepperstone.com

Pepperstone is an Australian online retail foreign exchange broker specializing in foreign exchange ("forex") trading. The company is headquartered in Melbourne, Australia and maintains offices in Dallas and Shanghai. It provides forex trading on 72 currency pairs, metals and commodities through various online trading platforms, such as MetaTrader 4, cTrader, and a range of mobile apps.[1][2]

History

Pepperstone was founded in 2010 by CEO Owen Kerr and director Joe Davenport.[3][4]

In 2013, media coverage in the Australian Financial Review and the Wall Street Journal suggested a potential initial public offering[5][6] and estimated the company to be worth $900m with revenues of A$60 million per year.[7]

In 2013, Pepperstone helped the Australian Securities and Investments Commission and Australian Federal Police uncover Australia's largest insider trading case in history.[8] Another media report claimed that a senior employee was sacked after tipping off the regulator.[9]

As of 2016, based on the company's own figures, it had an annual customer growth rate of 20% and a monthly foreign exchange transaction volume of A$100 billion.[10] Pepperstone was also ranked #1 on BRW Fast Starters 2014, with reported revenues of $60m and 66% growth.[11]

In October 2014, Pepperstone ceased accepting Japanese clients after an inquiry by ASIC regarding the lack of a license from the Japanese Financial Services Agency.[12]

In March 2016 Pepperstone announced it had finalised the sale of most of its business to Champ Private Equity.[13]

In February 2017, to comply with its FCA obligations, Pepperstone temporarily closed down their UK operations.[14]

Services and operation

Pepperstone is an online forex and CFD broker and maintains an interbank network utilizing Equinix. Pepperstone utilizes various third-party currency trading tools and infrastructure, including MetaTrader 4 and 5 and Zoho CRM.[1][15] In common with many MT4 brokers, the company offers the MT4 percent allocation management module (PAMM) tool for money managers.[16][17]

In August 2012, the company announced the launch of its EDGE FX trading platform as an alternative to its MT4 platform.[18]

Pepperstone offers two types of trading accounts - a standard account type, oriented towards "normal" traders, and a Razor account, for more advanced and Expert Advisor (EA) traders with tighter spreads.[19]

In August 2016, Pepperstone partnered with Qantas Frequent Flyer.[20]

References

  1. 1 2 "MetaTrader 4". Pepperstone. Retrieved 25 January 2012.
  2. ↑ "Pepperstone Financial Pty Ltd Forex Broker Information". TradingCharts.com. Retrieved 30 January 2012.
  3. ↑ Mote, Christopher (22 September 2011). "Owen Kerr, 2011 Anthill 30under30 Winner". Anthill. Retrieved 25 January 2012.
  4. ↑ "Pepperstone Financial Pty Ltd". Australian Securities & Investments Commission. 12 January 2010. Retrieved 4 February 2012.
  5. ↑ "Potential ASX flotation". Australian Financial Review. 27 November 2013. Retrieved 27 November 2013.
  6. ↑ "Pepperstone in no hurry for sale despite offers, CEO Owen Kerr says". The Australian. 23 September 2013. Retrieved 20 March 2014.
  7. ↑ Tan, Gillian (22 September 2013). "Australian FX Broker Pepperstone Mulls Options After Rejecting Bids". Wall Street Journal. Retrieved 20 March 2014.
  8. ↑ Durkin, Patrick (11 May 2014). "Alleged insider trading case cracked through LinkedIn". The Sydney Morning Herald. Retrieved 16 December 2014.
  9. ↑ Jefferson, Andrew (26 Aug 2014). "Employer won’t back down over insider trading sacking". The Herald Sun.
  10. ↑ "Pepperstone Ranked #1". Pepperstone. 17 October 2013. Retrieved 20 March 2014.
  11. ↑ "Fast Starters 2014". BRW. Retrieved 17 December 2014.
  12. ↑ "14-267MR ASIC concerns see Pepperstone exit the Japanese market". ASIC. 13 October 2014. Retrieved 13 June 2015.
  13. ↑ "Pepperstone finalises deal with Champ". The Australian. March 3, 2016. Retrieved May 10, 2017.
  14. ↑ "Pepperstone suspends Forex trading in the UK – LeapRate Exclusive". LeapRate. February 28, 2017. Retrieved May 10, 2017.
  15. ↑ R., Sharanya (1 April 2011). "[Case Study] Pepperstone Financial uses Zoho CRM API for Optimizing Lead Conversions". Zoho. Retrieved 8 February 2012.
  16. ↑ "Pepperstone Floats Tool For FX Traders". Institutional Investor. 18 February 2011. Retrieved 13 February 2012.
  17. ↑ "Pepperstone Launches Multi Account Manager (MAM) Tool for Professional Traders of Multiple Forex Accounts". Yahoo! News. 18 February 2011. Retrieved 13 February 2012.
  18. ↑ "Pepperstone - Australia’s Largest FX Broker Launches EDGE Trading Environment". Yahoo! News. 16 August 2012. Retrieved 11 September 2012.
  19. ↑ "Pepperstone Razor Forex Trading Account (SMART 100)". Anthill Magazine. 24 May 2012. Retrieved 9 June 2012.
  20. ↑ "Pepperstone clients to receive Qantas frequent flyer points for new deposits and trades". LeapRate. 18 August 2016. Retrieved 19 September 2016.
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