Pepperstone, a leading Australian forex broker founded in 2010, has suspended trading for clients in its UK subsidiary Pepperstone Limited.
All positions must be closed out by 5pm GMT on Thursday, March 9, 2017. If traders do not close their positions until this date, they will be closed automatically.
In September last year, it was unveiled that Pepperstone entered the UK market, by obtaining the FCA license of its UK subsidiary, Pepperstone Limited.
Late last year, the FCA announced a wide range of changes to leverage requirements and bonuses, which probably jeopardized Pepperstone’s operations in the UK, causing a temporary suspension of its services.
The broker’s clients received today the following email:
“This email is to let you know that we are temporarily suspending trading in the UK. This trading suspension only affects your trading account and a small number of UK clients registered under Pepperstone Limited, Pepperstone’s FCA regulated entity.”
In addition, the broker enabled its clients to contact Support Team via: firstname.lastname@example.org.
In 2016, Pepperstone received a multi-million dollar investment from CHAMP Private Equity, one of Australia’s leading private equity firms.
Pepperstone is an Australian online retail forex broker specializing in foreign exchange trading. The company, which is based in Melbourne, provides trading solutions that are sophisticated enough to satisfy the needs of experienced traders, but simple enough for beginners.
The broker has a financial services license, issued by the Australian Securities and Investment Commission (ASIC).
The main advantages of trading with Pepperstone are:
1. Possibility to choose between MT4 and cTrader platforms
2. Low spreads on their Razor account
3. Fast execution speed
4. Excellent Customer Service (24/5)