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			{{Short description\|Australian online broker}}
	{{Use dmy dates\|date=May 2014}}		{{Use dmy dates\|date=May 2014}}
	{{Use Australian English\|date=May 2014}}		{{Use Australian English\|date=May 2014}}
	{{Infobox company		{{Infobox company
	\|name = Pepperstone Group Limited		\| name = Pepperstone Group Limited
			\| logo = PepperstoneLogo.jpg
	\|logo = ]
			\| logo_size = 250px
⚫	\|type = ]
			\| image =
⚫	\|foundation = {{Start date\|df=yes\|2010}}
			\| image_caption = Pepperstone HQ in Melbourne, Australia
	\|founder =
		⚫	\| type = ]
⚫	\|location_city = ]
		⚫	\| foundation = {{Start date\|df=yes\|2010}}
⚫	\|location_country = ]
	\|~~key_people~~ = Owen Kerr ~~(Co-founder & CEO)~~<br /> Joe Davenport ~~(Co-founder & Director)~~		\| founder = Owen Kerr <br/> Joe Davenport
		⚫	\| location_city = ]
⚫	\|industry = ]
		⚫	\| location_country = ]
	\|services = ], ]
			\| key_people = {{ubl\|Tamas Szabo (CEO)\|Andrew Housden (CFO)\|Robert Bowen (COO)}}
⚫	\|revenue =
		⚫	\| industry = ]
⚫	\|~~operating_income~~ =
			\| services = Financial Markets Access
⚫	\|net_income =
			] Brokerage, ], ](CFDs), ]
⚫	\|assets =
		⚫	\| revenue =
	\|num_employees = 103
		⚫	\| operating_income =
⚫	\|homepage = {{~~url~~ \|~~https://~~pepperstone.com}}
		⚫	\| net_income =
		⚫	\| assets =
			\|equity =
			\| num_employees = 450 (FY 2024){{source?\|date=October 2024}}
		⚫	\| homepage = {{URL\|pepperstone.com}}
	}}		}}

			'''Pepperstone''' is a multi-regulated forex and CFDs broker providing trading services with forex, stocks, commodities and other asset classes. The company was founded in 2010 in ], ], by Owen Kerr and Joe Davenport. The group operates internationally through subsidiaries in the ], ], ], ], ], and the ].
	'''Pepperstone''' is an Australian ] ] broker specializing in ] ("forex") trading. The company is headquartered in ], ] and maintains offices in ] and ]. It provides forex trading on 72 currency pairs, metals and commodities through various ], such as ], ], and a range of mobile apps.<ref name="Metatrader">{{cite web\|url=https://pepperstone.com/trading-platforms/metatrader4.php\|title=MetaTrader 4\|publisher=Pepperstone\|accessdate=25 January 2012}}</ref><ref>{{cite web\|url=http://forex.tradingcharts.com/forex_broker/Pepperstone_Financial_Pty_Ltd.html\|title=Pepperstone Financial Pty Ltd Forex Broker Information\|publisher=TradingCharts.com\|accessdate=30 January 2012}}</ref>

	==History==		==History==
			Pepperstone was founded in 2010 by Owen Kerr and Joe Davenport<ref>{{Cite web\|url=https://www.afr.com/companies/financial-services/pepperstone-rich-list-cofounder-owen-kerr-shares-in-24m-dividend-20151014-gk8zz8\|title=Pepperstone rich list co-founder Owen Kerr shares $24m dividend\|date=14 October 2015\|website=Australian Financial Review}}</ref><ref>{{Cite web \|last=Pash \|first=Chris \|date=2014-11-21 \|title=The Pepperstone Guys Have Been Named Entrepreneurs Of The Year In Australia \|url=https://www.businessinsider.com.au/pepperstone-founders-joe-davenport-and-owen-kerr-are-australias-entrepreneurs-of-the-year-2014-11 \|url-status=dead \|archive-url=https://web.archive.org/web/20141122163217/https://www.businessinsider.com.au/pepperstone-founders-joe-davenport-and-owen-kerr-are-australias-entrepreneurs-of-the-year-2014-11 \|archive-date=2014-11-22 \|access-date=2020-03-02 \|website=Business Insider Australia \|language=en}}</ref> but it did not receive its Australian Financial Services License (AFSL) from the ] (ASIC) until February 2013.<ref name=asic2014/>
	Pepperstone was founded in 2010 by ] Owen Kerr and director Joe Davenport.<ref>{{cite web\|url=http://anthillonline.com/owen-kerr-2011-anthill-30under30-winner/\|title=Owen Kerr, 2011 Anthill 30under30 Winner\|last=Mote\|first=Christopher\|date=22 September 2011\|publisher=Anthill\|accessdate=25 January 2012}}</ref><ref>{{cite web\|url=http://www2.search.asic.gov.au/cgi-bin/gfs010c?FORMID=authreproles&ORIGIN=far&REPNO=389931\|title=Pepperstone Financial Pty Ltd\|date=12 January 2010\|publisher=Australian Securities & Investments Commission\|accessdate=4 February 2012}}</ref>

			In 2014, the firm was ranked #1 on ], with reported revenues of $60m and 66% growth.<ref>{{cite web \| url=http://www.brw.com.au/lists/fast-starters/2014/ \| title=Fast Starters 2014 \| publisher=BRW \| accessdate=17 December 2014}}</ref> In 2015, it secured a license under the ] (FCA) in the UK. By that time the company had already obtained licenses in the UAE with the ] (DFSA) and in ] under the ] (SCB).<ref name=FM20200813/>
	In 2013, media coverage in the Australian Financial Review and the ] suggested a potential ]<ref>{{cite web\|url=http://www.afr.com/p/personal_finance/portfolio/tech_firms_grow_hot_fast_and_furious_7YU8ZH9nPArFpAYITJ3cjK\|title=Potential ASX flotation\|date=27 November 2013\|publisher=Australian Financial Review\|accessdate=27 November 2013}}</ref><ref>{{cite web \| url=http://www.theaustralian.com.au/business/wall-street-journal/pepperstone-in-no-hurry-for-sale-despite-offers-ceo-owen-kerr-says/story-fnay3vxj-1226725302827 \| title=Pepperstone in no hurry for sale despite offers, CEO Owen Kerr says \| publisher=The Australian \| date=23 September 2013 \| accessdate=20 March 2014}}</ref> and estimated the company to be worth $900m with revenues of A$60 million per year.<ref>{{cite web \| url=http://blogs.wsj.com/moneybeat/2013/09/22/australian-fx-broker-pepperstone-mulls-options-after-rejecting-bids/ \| title=Australian FX Broker Pepperstone Mulls Options After Rejecting Bids \| publisher=Wall Street Journal \| date=22 September 2013 \| accessdate=20 March 2014 \| author=Tan, Gillian}}</ref>

			In 2016, Pepperstone sold a majority of its business to Champ Private Equity.<ref name="champ">{{cite news\|title=Pepperstone finalises deal with Champ\|url=http://www.theaustralian.com.au/business/dataroom/pepperstone-finalises-deal-with-champ/news-story/2a6130e81a2cc2f4c9fa6eda4b2c9504\|accessdate=May 10, 2017\|work=The Australian\|date=March 3, 2016}}</ref> The equity firm later exited the company, selling its stake in 2019.<ref>{{Cite web\|url=https://www.afr.com/street-talk/champ-to-exit-pepperstone-investment-sources-20180912-h159bu\|title=CHAMP to exit Pepperstone; new role for managing director Fiona Lock\|date=2018-09-08\|website=Australian Financial Review\|language=en\|access-date=2020-02-29}}</ref> In February 2017, to comply with its FCA obligations, the firm closed down their UK operations.<ref name="closeUK">{{cite news\|title=Pepperstone suspends Forex trading in the UK – LeapRate Exclusive\|url=https://www.leaprate.com/forex/brokers/pepperstone-suspends-forex-trading-uk-fca/\|accessdate=May 10, 2017\|publisher=LeapRate\|date=February 28, 2017}}</ref>
	In 2013, Pepperstone helped the ] and ] uncover Australia's largest insider trading case in history.<ref>{{cite web \| url=http://www.smh.com.au/business/alleged-insider-trading-case-cracked-through-linkedin-20140511-zr9mw.html \| title=Alleged insider trading case cracked through LinkedIn \| publisher=The Sydney Morning Herald \| date=11 May 2014 \| accessdate=16 December 2014 \| author=Durkin, Patrick}}</ref> Another media report claimed that a senior employee was sacked after tipping off the regulator.<ref>{{cite web \| url=http://www.heraldsun.com.au/news/law-order/employer-wont-back-down-over-insider-trading-sacking/story-fni0fee2-1227037855024 \| title=Employer won’t back down over insider trading sacking \| publisher=The Herald Sun \| date=26 Aug 2014 \| author=Jefferson, Andrew}}</ref>

			After ], Pepperstone no longer could operate in ] under Australian license.<ref>{{cite web\| url =https://www.financemagnates.com/forex/brokers/confirmed-pepperstone-is-seeking-cysec-licence-as-part-of-brexit-plan/\| title =Confirmed: Pepperstone is Seeking CySEC Licence as Part of Brexit Plan\| last =Skinner\| first =Celeste\| date =2020-07-07\| publisher =Finance Magnates \| access-date =2024-10-09}}</ref> To continue operations Pepperstone secured additional licenses from ] in ] and ] in ] by 2020.<ref name=FM20200813>{{cite web\| url =https://www.financemagnates.com/forex/brokers/pepperstone-gains-germanys-bafin-license/\| title =Pepperstone Gains Germany's BaFin License\| last =Shome\| first =Arnab\| date =2020-08-13 \|publisher =Finance Magnates \| access-date =2024-10-21}}</ref>
	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.<ref>{{cite web \| url=https://pepperstone.com/forex-news/pepperstone-ranked-1 \| title=Pepperstone Ranked #1 \| publisher=Pepperstone \| date=17 October 2013 \| accessdate=20 March 2014}}</ref> Pepperstone was also ranked #1 on ] 2014, with reported revenues of $60m and 66% growth.<ref>{{cite web \| url=http://www.brw.com.au/lists/fast-starters/2014/ \| title=Fast Starters 2014 \| publisher=BRW \| accessdate=17 December 2014}}</ref>

			In May 2022, Pepperstone entered into a global sponsorship deal with the ] (ATP), gaining naming rights to the official ].<ref>{{Cite web \|last=Carp \|first=Sam \|date=2022-05-06 \|title=ATP ranking naming rights included in Pepperstone's global sponsorship deal \|url=https://www.sportspromedia.com/news/atp-tour-rankings-pepperstone-naming-rights-sponsorship/?zephr_sso_ott=9Kny5A \|access-date=2022-12-31 \|website=SportsPro \|language=en-GB}}</ref> After February 2024, the naming rights were transferred to the ]n ].<ref>{{cite news \|title=ATP & PIF announce multi-year strategic partnership to accelerate the growth of global tennis \|url=https://www.atptour.com/en/news/atp-pif-strategic-partnership-february-2024 \|access-date= 2024-03-06 \|work=ATP Tour \|date= 2024-10-21}}</ref>
⚫	In October 2014, ~~Pepperstone~~ ~~ceased~~ ~~accepting~~ ~~Japanese~~ ~~clients~~ ~~after~~ an ~~inquiry~~ by ~~ASIC~~ ~~regarding~~ ~~the~~ ~~lack~~ of a license from the ].<ref>{{cite web \| url=http://www.asic.gov.au/about-asic/media-centre/find-a-media-release/2014-releases/14-267mr-asic-concerns-see-pepperstone-exit-the-japanese-market/ \| title=14-267MR ASIC concerns see Pepperstone exit the Japanese market \| publisher=ASIC \| date=13 ~~October 2014~~ \| accessdate=~~13 June 2015~~}}</ref>

			In June 2022, Pepperstone became an Approved Broker Member of the Financial Commission.<ref>{{cite web\| url =https://www.financemagnates.com/forex/brokers/pepperstone-becomes-a-financial-commission-member/\| title =Pepperstone Becomes a Financial Commission Member\| last =Felipe\| first =Erazo\| date =2022-06-01\| publisher =Finance Magnates\| access-date =2024-10-14}}</ref>
	In March 2016 Pepperstone announced it had finalised the sale of most of its business to Champ Private Equity.<ref name="champ">{{cite news\|title=Pepperstone finalises deal with Champ\|url=http://www.theaustralian.com.au/business/dataroom/pepperstone-finalises-deal-with-champ/news-story/2a6130e81a2cc2f4c9fa6eda4b2c9504\|accessdate=May 10, 2017\|publisher=The Australian\|date=March 3, 2016}}</ref>

			In 2023, the UK subsidiary reported a net profit of over £10 million. However, it failed to break above the broker's revenue of £12.7 million in 2020.<ref>{{cite web\| url =https://www.financemagnates.com/forex/pepperstone-uks-profit-surges-128-to-46m-in-2022/\| title =Pepperstone UK’s Profit Surges 128% to £4.6M in 2022\| last =Oladipupo\| first =Solomon\| date =2023-03-24\| publisher =Finance Magnates \| access-date =2024-10-21}}</ref> The client funds decreased to £25.16 mln below the previous year’s £28.9 mln. In the meantime, Pepperstone reduced employee and legal expenses and tripled marketing expenses instead.<ref>{{cite web\| url =https://www.financemagnates.com/forex/pepperstones-uk-profit-jumps-in-fy23-with-a-spike-in-non-trading-revenue/\| title =Pepperstone's UK Profit Jumps to £10M in FY23 with a Spike in Non-Trading Revenue\| last =Shome\| first =Arnab\| date =2024-04-03\| publisher =Finance Magnates \| access-date =2024-10-21}}</ref> In particular, it announced a partnership with the ],<ref>{{cite web\| url =https://www.financemagnates.com/forex/pepperstone-secures-title-of-official-regional-partner-for-afc-asian-cup/\| title =Pepperstone Secures Title of Official Regional Partner for AFC Asian Cup\| last =Sikder\| first =Tareq\| date =2024-01-22\| publisher =Finance Magnates \| access-date =2024-10-21}}</ref> hired ] as a Global Tennis Ambassador, announced partnership with the ], ], etc.<ref>{{cite web\| url =https://www.financemagnates.com/forex/pepperstone-scores-major-partnership-with-seven-time-grand-slam-champion/\| title =Pepperstone Scores Major Partnership with Tennis Legend, John McEnroe\| last =Chmiel\| first =Damian\| date =2024-03-18\| publisher =Finance Magnates \| access-date =2024-10-21}}</ref>
	In February 2017 Pepperstone closed down their UK operations, perhaps temporarily.<ref name="closeUK">{{cite news\|title=Pepperstone suspends Forex trading in the UK – LeapRate Exclusive\|url=https://www.leaprate.com/forex/brokers/pepperstone-suspends-forex-trading-uk-fca/\|accessdate=May 10, 2017\|publisher=LeapRate\|date=February 28, 2017}}</ref>

			In June 2024, Pepperstone introduced 24-hour CFD trading on US shares in collaboration with cTrader, MetaTrader, and ].<ref>{{cite web\| url =https://www.financemagnates.com/forex/pepperstone-rolls-out-24-hour-us-share-cfds-trading-on-multiple-platforms/\| title =Pepperstone Rolls Out 24-Hour US Share CFDs Trading on Multiple Platforms\| last =Chmiel\| first =Damian\| date =2024-06-19\| publisher =Finance Magnates \| access-date =2024-10-21}}</ref>
	== Services and operation ==
	Pepperstone is an online forex and CFD broker and maintains an interbank network utilizing ]. Pepperstone utilizes various third-party currency trading tools and infrastructure, including MetaTrader 4 and ] and ].<ref name="Metatrader" /><ref>{{cite web\|url=https://blogs.zoho.com/case-study-pepperstone-financial-uses-zoho-crm-api-for-optimizing-lead-conversions/\|title= Pepperstone Financial uses Zoho CRM API for Optimizing Lead Conversions\|last=R.\|first=Sharanya\|date=1 April 2011\|publisher=Zoho\|accessdate=8 February 2012}}</ref> In common with many MT4 brokers, the company offers the MT4 ] (PAMM) tool for money managers.<ref>{{cite web\|url=http://www.institutionalinvestor.com/Article/2771776/Pepperstone-Floats-Tool-For-FX-Traders.html?ArticleId=2771776\|title=Pepperstone Floats Tool For FX Traders\|date=18 February 2011\|publisher=Institutional Investor\|accessdate=13 February 2012}}</ref><ref>{{cite web\|url=https://news.yahoo.com/pepperstone-launches-multi-account-manager-mam-tool-professional-20110218-070000-386.html\|title=Pepperstone Launches Multi Account Manager (MAM) Tool for Professional Traders of Multiple Forex Accounts\|date=18 February 2011\|publisher=Yahoo! News\|accessdate=13 February 2012}}</ref>

			== Regulation ==
	In August 2012, the company announced the launch of its EDGE FX trading platform as an alternative to its MT4 platform.<ref>{{cite web\|url=https://news.yahoo.com/pepperstone-australia-largest-fx-broker-launches-edge-trading-074458429.html\|title=Pepperstone - Australia’s Largest FX Broker Launches EDGE Trading Environment\|date=16 August 2012\|publisher=Yahoo! News\|accessdate=11 September 2012}}</ref>
			After ], to remain operational in EU, Pepperstone secured regulatory licenses in Germany and Cyprus. The company also expanded to ] and the ].<ref>{{Cite web\|url=https://www.afr.com/wealth/pepperstone-founders-may-be-worth-300m-each-with-listing-20131127-iys3h\|title=Pepperstone founders may be worth $300m each with listing\|date= 2013-11-26\|website=Australian Financial Review}}</ref><ref>{{Cite web\|url=https://www.theaustralian.com.au/business/business-spectator/news-story/pepperstones-unlikely-millionaire/64651a49bd53caeb5165a48b3ca7dae3\|title=Pepperstone's unlikely millionaire\|first=Hannah \|last=Francis\|date=2014-07-09\|website=The Australian Business Review}}</ref><ref>{{Cite web\|url=https://www.smh.com.au/business/small-business/is-pepperstone-headed-for-an-ipo-20131219-2zlze.html\|title=Is Pepperstone headed for an IPO?\|first=Adam\|last=Courtenay\|date=2014-01-26\|website=The Sydney Morning Herald}}</ref> The company is authorized and regulated by several financial authorities: the Australian Securities and Investments Commission (ASIC), the ] in the United Kingdom, ], DFSA Dubai, CMA Kenya, SCB Bahamas, and BaFin Germany.<ref name=":0">{{cite web\|title=BaFin License\|url=https://www.financemagnates.com/forex/brokers/pepperstone-gains-germanys-bafin-license/\|accessdate=2024-10-21\|website=Finance Magnates\|date=2020-08-13 }}</ref>

	Pepperstone ~~offers~~ ~~two~~ ~~types~~ of ~~trading~~ ~~accounts~~ ~~- a standard account type~~, ~~oriented~~ ~~towards "normal" traders~~, ~~and~~ ~~a Razor account~~, ~~for more advanced~~ and ] ~~(EA) traders with tighter spreads~~.<ref>{{cite web\|url=~~http~~://~~anthillonline~~.com/pepperstone~~-razor-forex-trading-account-smart-100/~~\|title=Pepperstone ~~Razor~~ ~~Forex~~ ~~Trading~~ ~~Account~~ ~~(SMART~~ ~~100)~~\|date~~=24~~ ~~May 2012~~\|publisher=~~Anthill~~ ~~Magazine~~\|~~accessdate=9~~ ~~June~~ ~~2012~~}}</ref>		Pepperstone has offices in ], ], ], ], ], ], and ].<ref name=":0"/><ref>{{cite web\| url =https://www.fxempire.com/brokers/pepperstone\| title =Pepperstone Review 2024\| last =Blystone\| first =Dan\| date =2024-06-30\| publisher = FXF Empire\| access-date =2024-10-21}}</ref>

			== Controversy ==
	Pepperstone also offers an ] for the ], ], ], and ], allowing customers to trade via a mobile device.

		⚫	In October 2014, the Australian Securities and Investments Commission (ASIC) discovered that Pepperstone had been operating in ] without a license from the Japanese ]. It was only after the ASIC report that Pepperstone notified its Japanese clients via email about the lack of a license and informed them that they could only withdraw their funds until December 31, 2014.<ref name=asic2014>{{cite web \| url=http://www.asic.gov.au/about-asic/media-centre/find-a-media-release/2014-releases/14-267mr-asic-concerns-see-pepperstone-exit-the-japanese-market/ \| title=14-267MR ASIC concerns see Pepperstone exit the Japanese market \| publisher=ASIC \| date=2014-10-13 \| accessdate=2024-10-21}}</ref>
	Pepperstone operates a branch in the ], ].

			=== Insider trading scam ===
	In August 2016, Pepperstone partnered with ] Frequent Flyer.<ref>{{cite web\|url=https://www.leaprate.com/2016/08/pepperstone-clients-to-award-qantas-frequent-flyer-points-for-new-deposits-and-trades/\|title=Pepperstone clients to receive Qantas frequent flyer points for new deposits and trades\|date=18 August 2016\|publisher=LeapRate\|accessdate=19 September 2016}}</ref>
			In 2014, the ] reported that Pepperstone's head of sales, Joel Murphy, was fired after blowing the whistle on a $7 million insider trade scam. Murphy uncovered a scheme carried out by Lukas Kamay and Chris Hill, who gained 20,000% in profits, and informed his boss as well as the ]. Murphy was fired on the day of their arrest and was denied bonuses exceeding $1 million.<ref>{{cite web \| url=https://heraldsun.com.au/news/law-order/employer-wont-back-down-over-insider-trading-sacking/news-story/6c46611e7c5d71418f91fe163cf4e010 \| title=Employer won't back down over insider trading sacking \| work=Herald Sun \| date=26 Aug 2014 \| author=Jefferson, Andrew}}</ref><ref>{{cite web\| url =https://www.abc.net.au/news/2021-09-28/cracking-australias-largest-insider-trading-scam/100477328\| title =The Accomplice\| last =Chenery\| first =Susan\| date =2021-09-27\| publisher = ABC Net\| access-date =2024-10-21}}</ref><ref>{{cite web\| url =https://insidestory.org.au/the-insiders/
			\| title =The insiders\| last =Gans\| first =Jeremy\| date =2021-06-07\| publisher = Insider Story\| access-date =2024-10-12}}</ref> The story was later covered in the press under the headline "Pepperstone helped the Australian Securities and Investments Commission and ] uncover Australia's largest insider trading case in history," without revealing that the person who initially discovered the fraud had been fired without receiving his rightful compensation. Murphy later founded a brokerage company and eventually hired one of the convicted fraudsters, Chris Hill, as a risk analyst, giving him a chance to recover from the incident and rebuild his career.<ref>{{cite web \| url=http://www.smh.com.au/business/alleged-insider-trading-case-cracked-through-linkedin-20140511-zr9mw.html \| title=Alleged insider trading case cracked through LinkedIn \| work=The Sydney Morning Herald \| date=11 May 2014 \| accessdate=16 December 2014 \| author=Durkin, Patrick}}</ref><ref>{{cite web\| url =https://www.afr.com/companies/financial-services/whisteblower-fired-after-insider-trading-tip-off-20140804-jeiok\| title =Whisteblower ‘fired after insider-trading tip-off’\| last =Georgia\| first =Wilkins\| date =2014-08-04\| publisher = Financial Review\| access-date =2024-10-21}}</ref>

	==References==		==References==
	{{Reflist}}		{{Reflist}}

			{{Online brokerages}}
	== External links ==
	{{Commons category}}
	* {{Official website\|https://www.pepperstone.com/}}

			]
	]		]
	]		]

Latest revision as of 05:55, 22 November 2024

Australian online broker

Pepperstone Group Limited

Company type	Private
Industry	Financial services
Founded	2010 (2010)
Founder	Owen Kerr Joe Davenport
Headquarters	Melbourne, Australia
Key people	Tamas Szabo (CEO) Andrew Housden (CFO) Robert Bowen (COO)
Services	Financial Markets Access Forex Brokerage, MetaTrader 4, Contract For Difference(CFDs), cTrader
Number of employees	450 (FY 2024)
Website	pepperstone.com

Pepperstone is a multi-regulated forex and CFDs broker providing trading services with forex, stocks, commodities and other asset classes. The company was founded in 2010 in Melbourne, Australia, by Owen Kerr and Joe Davenport. The group operates internationally through subsidiaries in the UK, Germany, Cyprus, Kenya, Bahamas, and the UAE.

History

Pepperstone was founded in 2010 by Owen Kerr and Joe Davenport but it did not receive its Australian Financial Services License (AFSL) from the Australian Securities and Investments Commission (ASIC) until February 2013.

In 2014, the firm was ranked #1 on BRW Fast Starters, with reported revenues of $60m and 66% growth. In 2015, it secured a license under the Financial Conduct Authority (FCA) in the UK. By that time the company had already obtained licenses in the UAE with the Dubai Financial Services Authority (DFSA) and in the Bahamas under the Securities Commission of the Bahamas (SCB).

In 2016, Pepperstone sold a majority of its business to Champ Private Equity. The equity firm later exited the company, selling its stake in 2019. In February 2017, to comply with its FCA obligations, the firm closed down their UK operations.

After Brexit, Pepperstone no longer could operate in European Union under Australian license. To continue operations Pepperstone secured additional licenses from BaFin in Germany and CySEC in Cyprus by 2020.

In May 2022, Pepperstone entered into a global sponsorship deal with the Association of Tennis Professionals (ATP), gaining naming rights to the official ATP rankings. After February 2024, the naming rights were transferred to the Saudi Arabian Public Investment Fund.

In June 2022, Pepperstone became an Approved Broker Member of the Financial Commission.

In 2023, the UK subsidiary reported a net profit of over £10 million. However, it failed to break above the broker's revenue of £12.7 million in 2020. The client funds decreased to £25.16 mln below the previous year’s £28.9 mln. In the meantime, Pepperstone reduced employee and legal expenses and tripled marketing expenses instead. In particular, it announced a partnership with the Asian Football Confederation, hired John McEnroe as a Global Tennis Ambassador, announced partnership with the Geelong Football Club, Adelaide Strikers, etc.

In June 2024, Pepperstone introduced 24-hour CFD trading on US shares in collaboration with cTrader, MetaTrader, and TradingView.

Regulation

After Brexit, to remain operational in EU, Pepperstone secured regulatory licenses in Germany and Cyprus. The company also expanded to Kenya and the UAE. The company is authorized and regulated by several financial authorities: the Australian Securities and Investments Commission (ASIC), the FCA in the United Kingdom, CySEC Cyprus, DFSA Dubai, CMA Kenya, SCB Bahamas, and BaFin Germany.

Pepperstone has offices in Melbourne, London, Düsseldorf, Dubai, Limassol, Nassau, and Nairobi.

Controversy

In October 2014, the Australian Securities and Investments Commission (ASIC) discovered that Pepperstone had been operating in Japan without a license from the Japanese Financial Services Agency. It was only after the ASIC report that Pepperstone notified its Japanese clients via email about the lack of a license and informed them that they could only withdraw their funds until December 31, 2014.

Insider trading scam

In 2014, the Herald Sun reported that Pepperstone's head of sales, Joel Murphy, was fired after blowing the whistle on a $7 million insider trade scam. Murphy uncovered a scheme carried out by Lukas Kamay and Chris Hill, who gained 20,000% in profits, and informed his boss as well as the Australian Securities and Investments Commission. Murphy was fired on the day of their arrest and was denied bonuses exceeding $1 million. The story was later covered in the press under the headline "Pepperstone helped the Australian Securities and Investments Commission and Australian Federal Police uncover Australia's largest insider trading case in history," without revealing that the person who initially discovered the fraud had been fired without receiving his rightful compensation. Murphy later founded a brokerage company and eventually hired one of the convicted fraudsters, Chris Hill, as a risk analyst, giving him a chance to recover from the incident and rebuild his career.

References

"Pepperstone rich list co-founder Owen Kerr shares $24m dividend". Australian Financial Review. 14 October 2015.
Pash, Chris (21 November 2014). "The Pepperstone Guys Have Been Named Entrepreneurs Of The Year In Australia". Business Insider Australia. Archived from the original on 22 November 2014. Retrieved 2 March 2020.
^ "14-267MR ASIC concerns see Pepperstone exit the Japanese market". ASIC. 13 October 2014. Retrieved 21 October 2024.
"Fast Starters 2014". BRW. Retrieved 17 December 2014.
^ Shome, Arnab (13 August 2020). "Pepperstone Gains Germany's BaFin License". Finance Magnates. Retrieved 21 October 2024.
"Pepperstone finalises deal with Champ". The Australian. 3 March 2016. Retrieved 10 May 2017.
"CHAMP to exit Pepperstone; new role for managing director Fiona Lock". Australian Financial Review. 8 September 2018. Retrieved 29 February 2020.
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United States	Ally Financial Charles Schwab Thinkorswim Chase Bank Citibank E-Trade Fidelity Investments Firstrade Securities FXCM Interactive Brokers Lightspeed M1 Finance Merrill Edge Moomoo (company) PNC Financial Robinhood SoFi TradeStation U.S. Bancorp The Vanguard Group Webull WellsTrade
Europe	ActivTrades Avanza BUX CMC Markets Degiro Doorstep Dukascopy Bank eToro FinecoBank Finam Holdings Freetrade HSBC InvestDirect IG Group Interactive Investor Lightyear Nordnet OTP Bank Plus500 Saxo Bank Standard Chartered Swissquote Trade Republic
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