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Attachments: Vantage FX Vs Pepperstone? True STP/ECN Brokers? Who's better?
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Vantage FX Vs Pepperstone? True STP/ECN Brokers? Who's better?

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  • First Post: Sep 11, 2017 10:01am Sep 11, 2017 10:01am
Hello guys I'm currently with a broker who I recently found out is a dealing desk broker (market maker) and not a true ECN/STP broker. Looking back I can see this is true with their SL hunt, spread manipulation and very high slippage a times. I'm not happy about this and I spent the weekend looking for another broker. I've narrowed my search down to Vantage Fx and Pepperstone. Both advertise themselves as true ECN/STP brokers and offer similar account options.

Vantage Fx offers a standard STP account and a Raw ECN account, and both look pretty good to me. Pepperstone offers their Edge standard STP account and then also a Raw spread ECN account. From what I can see both offers similar STP and ECN accounts with similar options.

Vantage has a higher minimum deposit ($500) but charges less commission ($3) on their ECN accounts. Pepperstone has a lower minimum deposit ($200) but has a slightly higher commission ($3.5) on their ECN account. Both STP accounts look almost the same. My questions is for those of you who have accounts with either of these brokers, what your feedback on them? Positive or negative?

Is the standard STP account good enough or would the raw ECN account be a better option? Which broker would you go for?

Thanks I appreciate your feedback.
Truth is like poetry. And most people f*cking hate poetry.
Quoting mrdfx
Hello guys I'm currently with a broker who I recently found out is a dealing desk broker (market maker) and not a true ECN/STP broker. Looking back I can see this is true with their SL hunt, spread manipulation and very high slippage a times. I'm not happy about this and I spent the weekend looking for another broker. I've narrowed my search down to Vantage Fx and Pepperstone. Both advertise themselves as true ECN/STP brokers and offer similar account options. Vantage Fx offers a standard STP account and a Raw ECN account, and both look pretty good...
Most retail brokers are market makers one way or the other.
There is no way to avoid it i am afraid.

Pick a broker with a good reputation and make sure they use good banks for their clients deposit.
If the bank goes in to default it doesn't matter if you use a market maker or not.
From these 2 i would pick Pepperstone, only because i have no personal experience with Vantage.

Ps. Brokers really don't care about small accounts and stop running for a few bucks, stop running is a natural process in trading since stops always are in logical places and banks etc need the liquidity from those stops to get in and out of their big positions.
Slippage and bad execution on the other hand can be a sign of using a bad broker.
I have experience with both brokers. I would prefer Vantage over Pepperstone. However GoMarkets Leaves both for dead.
Conventional trading is for losers
Quoting Dkam
{quote} Most retail brokers are market makers one way or the other. There is no way to avoid it i am afraid. Pick a broker with a good reputation and make sure they use good banks for their clients deposit. If the bank goes in to default it doesn't matter if you use a market maker or not. From these 2 i would pick Pepperstone, only because i have no personal experience with Vantage. Ps. Brokers really don't care about small accounts and stop running for a few bucks, stop running is a natural process in trading since stops always are in logical places...
Thank you for your feedback. Both seem like both options and I'm also leaning towards Pepperstone but I still have more research to do. Thanks.
Truth is like poetry. And most people f*cking hate poetry.
Quoting Ralffe
I have experience with both brokers. I would prefer Vantage over Pepperstone. However GoMarkets Leaves both for dead.
Thanks for your reply. What is your reasoning in choosing Vantage over Pepperstone?

I'll take a look at GoMarkets, I haven't heard of them before. Do they offer true ECN/STP accounts?
Truth is like poetry. And most people f*cking hate poetry.
Quoting mrdfx
{quote} Thanks for your reply. What is your reasoning in choosing Vantage over Pepperstone? I'll take a look at GoMarkets, I haven't heard of them before. Do they offer true ECN/STP accounts?

GoMarkets is market maker, so it's rather bad choice. Try Pepperstone and IC Markets, honest ECN brokers with tight spreads.
Quoting insomniawawa
{quote} GoMarkets is market maker, so it's rather bad choice. Try Pepperstone and IC Markets, honest ECN brokers with tight spreads.
Thanks yes I just checked that they are MM so not exactly what I'm looking for.
Truth is like poetry. And most people f*cking hate poetry.
pepper and ic are darn good......

pepper is now uk licensed as well.

always getting good fills with them, ic is not bad either.
Quoting reinerh
pepper and ic are darn good...... pepper is now uk licensed as well. always getting good fills with them, ic is not bad either.
Yes I'm leaning towards Pepperstone at the moment but I'm still undecided. I'll keep researching. Thanks.
Truth is like poetry. And most people f*cking hate poetry.
Quoting insomniawawa
{quote} GoMarkets is market maker, so it's rather bad choice. Try Pepperstone and IC Markets, honest ECN brokers with tight spreads.
I have not found this to be a problem. Low slippage. tight spreads, no SL hunting, What more can you ask for.?
Conventional trading is for losers
Quoting mrdfx
{quote} Thanks for your reply. What is your reasoning in choosing Vantage over Pepperstone? I'll take a look at GoMarkets, I haven't heard of them before. Do they offer true ECN/STP accounts?
Had both at one time. With Pepperstone I was annoyed with their SL hunting & not being able to place my SLs & TPs close to the market price.
Conventional trading is for losers
if its any help I have used Go Markets and Axitrader and VantageFX. I would rank Vantage 3rd out of these - Axitrader and Go Markets equal-ish good.
Axitrader support seems to be UK based whilst Go Markets are based in Oz - so the replies to emails etc can be slower from Axitrader. I will be trying out IC Markets shortly.
Quoting mrdfx
My questions is for those of you who have accounts with either of these brokers, what your feedback on them? Positive or negative? Is the standard STP account good enough or would the raw ECN account be a better option? Which broker would you go for? Thanks I appreciate your feedback.
Yo mrdfx.

I trade with Vantage FX and would recommend their RAW ECN account to anyone. Their commissions are cheaper than Pepperstone and that's the deciding factor for me. Both proper ASIC regulated brokers who can't be split elsewhere.
been with "gomarkets " 4yrs now , no stop hunting like cmc and pro/ac has tighter spreads .. heard from someone to be wary of doing large positions (don't know why tho)
Thanks for your suggestions guys, I have since opened an account with Pepperstone. I spent hours researching comparisons between the brokers and decided on Pepperstone.

I also went with an STP account over the ECN as for my trading style the ECN and the commissions was a bit expensive. ECN is good but I'm happy with the STP. Cheers.
Truth is like poetry. And most people f*cking hate poetry.
Quoting mrdfx
Thanks for your suggestions guys, I have since opened an account with Pepperstone. I spent hours researching comparisons between the brokers and decided on Pepperstone. I also went with an STP account over the ECN as for my trading style the ECN and the commissions was a bit expensive. ECN is good but I'm happy with the STP. Cheers.

good choice mrd,

had nothing but good experiences with them.

also their servers have no issues i have seen to date.

especially when i trade news manually thats just utmost important.
as long you put mini lots..is ok for me..for any broker ..you will see they true color when you start entry 5 lot above..it happen to me..always had slippage. good luck
Quoting hajiuntung66
as long you put mini lots..is ok for me..for any broker ..you will see they true color when you start entry 5 lot above..it happen to me..always had slippage. good luck
larger orders often get filled not just by one bank, the liquidity pool is simply not unlimited, especially during certain times like early asia.

has not so much to do with your broker, much more how many banks they are getting their liquidity from.

and by far the best time to get filled is during europe ny overlapp.
Quoting hajiuntung66
as long you put mini lots..is ok for me..for any broker ..you will see they true color when you start entry 5 lot above..it happen to me..always had slippage. good luck
This is why I’m happy with Vantage FX.

I have spoken to some highly reliable trading contacts in Toronto who swear that the brokers advertising the tightest spreads slip you like crazy once you start to trade with bigger size.

Just beware
If the broker isn't the market maker then it's their liquidity provider/s.
Take gold for example (during Asian session); the spread on gold might only be 13 points - but if you have access to the market depth you'll see there is only 100 oz (1 lot) worth of liquidity at where the spread is shown.

If you want to trade 5 lots then the spread becomes 19 points.. 10 lots = 35 points, 20 lots = 46 points, 50 lots = 55 points.
Obviously all these bids & offers are MM orders, whether it's your broker or their liquidity providers.
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