Pepperstone U.K. back in business

Where is located Pepperstone Uk server?

Hey buddy,
The only problem I am having with ICMarkets is their Stop-Out level 50% quite dangerous for me. That's why I am looking for another similar brokers but not yet found one. Pls advice on that

I believe lowering lot size might help.

I usually do not write in forums. but this issue is really needed to be addressed. I used Pepperstone for 4 months so far. and I have an Ecn account ( high commission and suppose to be low spread ) compared to other brokers, it is not the best at all.
Besides, SO many manipulations happen in multiple orders especially in news times. I contacted them to investigate it. I always receive the same answers from customer service reps who answer with a template kind of answer. They tell me the prices you entered were not in our Tick data and send me the tick data file without even checking it, because my prices are in there!! (#32702130)
I trade news and I have been doing that for a long time. With Peppestone, Executions are always in prices either not in their Tick Data or activate your pending order only to receive half profit. 5 times already that happened and every time a different story.
Here are the pending order prices, execution prices.



** so many other cases I have screenshots for candlesticks with tails to hit your SL and does not exist in the Charts of Saxobank or Dukascopy for example.

If the the first chart for nzdcad is from Pepperstone, than that long doji spike is manipulation. I will prove it. Here is live account nzdcad 1m chart from Pepperstone ecn/razon/whatever account in cTrader. See the same spike? EXCEPT on my account low of that candle is 0.89992. I have the same pricing from other broker at the same level for the same candle. Which means that was market price at the time. Whereas your chart shows 0.89941. That is 5.1 pip difference. It is not likely spread, although it could be low liquid time (probably they will tell you that as reason) and currently Pepperstone on nzdcad runs 1.4-2.0p spread (average about 1.7, not that great either in comparison to other broker, I can assure you).

None less, if both charts shows Pepperstone's live account, clearly there is discrepancy in live pricing quoted to clients. The price they gave you no only does not exist on other brokers (as you say), but does not exists on their own live pricing they gave me. Which for me means most likely this is typical bucket shop stop hunting. Change broker and go away from MT4 (I assume it is).

If you want to be safe in the market stay away from taking positions around news. No broker can give you better treatment at that time

pepper is good broker, but uk version seems odd.. their latency 'rate' is way different from aussie normal pepper mt4,
also they dont have IB/ cashbackforex yet available and paypal funding is missing in uk version.. odd

After telling my story in this thread (https://www.forexfactory.com/showthr...8#post10237528), i have a follow up regarding Scamstone:


I tried to go through their transer to UK steps and they don't even offer cTrader yet.
First they take their damn time dealing with their FCA thing, then they force and pressure their clients to close all their positions and switch to UK and when trying to do so, they don't even have the trading plattforms ready.

Their rep told me it might take a few weeks or so and I had to transfer everything to MT4 first (which I don't use and don't like. So another forced change) and then, when cTrader would be available at some undefined point in the future I could transfer my funds again into that account.

So I decided to close my accounts and withdrew all my funds.
I chose normal bank transfer, since Pepperstone doesn't charge fees for it, only the ones from my bank are charged.
Somebody has to make money somewhere, so I'd rather let my bank make some bucks instead of Pepperstone at this point.

Surprise, Surprise! Pepperstone scammed me again.
Instead of the 15 Euro my bank charges, which are listed in the transfer notes, I recieved another 15 Euro less of my money.
So Pepperstone did keep the same amount of money the bank charges for themselves.
Of course complaining to them about it doesn't do anything, since even if they would refund you the money into your account you wouldn't get it, because you have to pay the bank fee again.
Their rep told me the fees would come from a third, intermediary bank. Right... When I deposit money, it goes straight to a local bank account, but when I want to withdrawal my money, it conveniantly goes throgh multiple banks around the globe so they can claim it's not their fault.
And that is bs anyway. My bank says it comes from a Pepperstone account from a bank in Melbourne. So no "intermediary" bank involved.
Another excuse to suck customers money.

Clever move of them.

I am done with that bucket shop and advise everybode else here to not get blinded by their "awards" and "good reputation".
Because I myself had no complaints until I ran into trouble. And that's the point when you see what anything is made of. And they highly disappointed me.
No cooperation, no willingness to solve the problem, only scripted answers, fake apologies and false promises to keep you trading with them, leaving you with hope that they will have a proper solution to your problem. When the fact of the matter is, they just don't care!

So, JeremyV, what is alternative for Pepperstone you are thinking? Please let me know because I have exactly same thoughts of Pepperstone like yours. Thanks

I'm currently trying out FxPro (UK), because of cTrader.. Can't comment much yet, except that spreads are bigger. But I knew that already before.
The other thing I've noticed is, they don't spam my email like Pepperstone did. God was that annoying.

Funding methods are fewer as well. (For UK)
I funded via bank transfer. It was fast enough and with no fee. (EU)

If I ever get any problems with them, I will write it here

you need to understand how money transfer works.
example, you have USD in a Melbourne bank and you need to transfer to a UK bank.
Melbourne bank will have a relationship with an intermediary bank in US , say America express(AE). UK bank will have similar - say Bank of America (BA).

Melbourne bank will ask AE to transfer money to BA. when BA receive money it will inform UK bank, which will then convert the money and inform recipient.

AE and BA are intermediary banks. Money CANNOT come directly from Melbourne.

When sending money, sender can nominate OUR (which means sender pays for all fees incl AE and BA) or BEN (which means Beneficiary pays all all fees). But typically, sender nominate SHA (sender pays for AE and beneficiary pays for BA to SHAre the cost).

When funding, some broker absorb all the cost. But when sending broker use SHA or BEN but never OUR. The reason for not using OUR is that you have no control over what some banks in Timbuktu will charge.

Some Australian broker uses SHA which means you are only charge by the receiving bank. BUt most UK brokers uses BEN, which is why I avoid them.

When transacting in GBP, the transaction will take place in UK and SGD in Singapore etc.

Big banks have branches everywhere eg. Barclays has branches in Sing, HK, NY etc just for this purpose and they are "institutional" banks in these countries rather than retail banks. Bank like HSBC, Citi are "world" retail bank that does both.

Most australian banks are big banks and can charge a fixed fee with themselves and AE(or their intermediary). Small banks may not have this relationship e.g. sending money to Russia, they may not have intermediary to handle ruble. But base currency are usually common currency and will not have this issue.

Brokers like Vipro, Global Prime uses SHA. They may be others. Vipro even refund your SHA cost when funding over a certain amount.

So pepperstone is not a scam in terms of their withdrawals regardless of your trading experience with them.

Yes it is. Simply because every bank has different fees. So how can Pepperstone know in advance how high my personal fee is?
And after my fee is paid, I'm missing exactly the amount of money Pepperstone listed as a fee as well?

How money transfer works doesn't concern me. All that matters is how high my fee is and Pepperstone says "NO FEE" (except my own bank's one). Which was paid. 15 Euro. These are listed in my bank statement. But I'm missing 30! Ergo scam.


Example:
I order some wood. The seller tells me it costs 1000$. When I recieve it, I expect the bill to say "1000$". And not 1200$, with the excuse "you know, the wood has to come from somewhere else, it has to get shipped locally, then transfered via ship to another country, loaded up onto a truck, shipped to the company and then delivered to me" ... No body gives a s*hit how stuff works in the background. You told me 1000$ is the cost and 1000$ it should be.

Trying to seem like a good broker with all their catchy conditions like low spread and no fees is deception.
Because what they really do is add slippage to your trades, to counter their low spreads and add made up fees to their money transfers.

If I were to do such thing, I would go to jail!


Such tactics are the reason why forex has a bad reputation.

Poor gullible people are what those companies count on to suck their money out of their pockets. Who make the excuses for them and even worse, believe it.