Pepperstone's New Feature Allow Making Spread Bets on TradingView Without 'Screen Switching'

The Australian online trading provider Pepperstone has now launched "tax-free" spread betting for its UK users on the social chart platform TradingView which integrated with the broker earlier last year. According to the FX and CFD broker, its UK clients can now directly place spread bets on instruments such as forex, indices, commodities, and stocks on TradingView's customizable charts.

On Friday, Pepperstone announced this new feature in a statement. The broker pointed out that its UK traders do not need to perform a "screen switching" to use TradingView when making spread bets on its platform.

Tamas Szabo, the Group CEO of Pepperstone, stated that this feature means that its customers can "trade the way they want to trade" on TradingVeiw. This feature will also "transform the trading experience" of the broker's customers and "present more opportunities for Pepperstone's UK clients in the future." 

"Pepperstone is now one of the only TradingView brokers to provide their UK clients with the benefits of spread betting," Pepperstone further commented in the statement. "Spread betting with Pepperstone means having access to consistently competitive spreads, low latency, fast execution and award-winning client service."

Pepperstone's integration of spread bets into TradingView for UK traders seems to be a strategic move. Last year, the pre-tax profit of Pepperstone's UK operations more than doubled to £4.6 million. In addition, in the 2022 fiscal year ending June 30, the broker's trading revenue increased by 36% to £10.7 million.

However, this financial result did not exceed the broker's output in the FY2020. Two years ago, Pepperstone's pre-tax profit was £7.7 million, and revenue jumped to £12.7 million.

In its annual report submitted to the UK Companies House, the broker defended its performance during the two fiscal years. The company explained: two years earlier, Pepperstone UK had European clients under its care; hence, the significant discrepancy.

Besides, Pepperstone also pointed out that market instability caused by the COVID-19 pandemic in 2020 helped the company create "exceptional revenue and profit before tax" during the earlier period.

(Source: Finance Magnates)