Stay away from peperstone they dont alow customer to trade against eatch other. ( read the pdf on the site) acording to the customer service they put /direct your trade to a dark pool . where the predatory trading mostly occurs in the dark pools
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I agree cent %. Your opinions seem quite genuine. Pepperstone seems to be another cheater with big credentials. I have a live account with them. So far, following are my observations:-
1. Spreads on their demo account are fake, usually starting from 0, while on real account are between 1.2 to 6.
2. They charge double the displayed spread i.e. first in the start and then on reaching there spread again. For example, 12 pips on putting the trade and 12 pips over and above your profit. Your trade line start with -12 but your profit does no get to +1 pip until you have even crossed the trade line by 12 pips.
3. If by mistake, you have set your SL, they will hit it like a magnet even not showing a move. I have recorded their dirty tactic by possible means like comparing with three other live accounts and by measuring their actual spread highs with 'FXRM_Open_Trade_Pip_History.ex4'. This a very useful indicator to catch and display spread spikes of your broker which can not be detected otherwise.
4. Pepperstone removes your best trades with zero profit or loss.
5. At the critical time when you try to put a trade, it will either not go into effect or their system will hang.
There Server speeds are pathetic usually between 260 to 354+.
There are other minor observations which I intend sharing on my websit on frauds in forex business, for saving innocent public.
I am looking for a regulated broker outside of the EU for EU residents which will offer high leverage. I am also open to completely unregulated brokers if you have experience with one that you may recommend. 1:3000 would be ideal as I want to test some newer strategies and for trying certain automated systems that need real market conditions. If anyone can help with this it will be greatly appreciated. Thank you.
I understand that there are some other threads that may be better suited for this specific topic but I am having difficulty finding a broker that will allow me to open an account that is not under ESMA regulations which I strongly oppose - the negative balance protection is acceptable but everything else is not welcome and almost 100% of traders say as much in surverys. I do not mind opening a company and trading under a company name either if this is the way to go.
Does anyone know which broker does not have slipgape? because I mainly trade news
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My friend, slippage is a combination of the function of the market and the type of order you use, not necessarily the fault of your broker.
Sadly, most "traders" out there will use a Market order when the "news move" is happening.
Here's what happens during news. Just a couple seconds before the news comes out, most LP's (not your broker) will stop pricing. This will make the liquidity at that point drop, even if there are thousands of traders waiting to get in. When the liquidity at that point drops, the spread will widen as nobody will have a limit order anywhere close to current price at that time. Then, it will then take a bunch of people out of their stops and the move will start. Then when the move starts, the last thing you should do is click "Buy", or "sell" with a Market order as now you will get filled at the absolute worst price possible because in the middle of that long green or red candle, no trade is taking place.
Something similar takes place around the Roll-over when LPs stop pricing for a moment, and also the end of the week.
Now, combine all that I just mentioned, and add to that, that you are always only seeing one side of the market printed on your chart. Most brokers will only show you the BID price chart. So, you got filled on a place on the chart where the chart did not even print a candle. Now you think that you got slipped and scammed at the same time.
I have worked for a couple brokers, and it's amazing how people will blame the broker for slipping / scamming them.
[quote=dilazak1;12695446]{quote} I agree cent %. Your opinions seem quite genuine. Pepperstone seems to be another cheater with big credentials. I have a live account with them. So far, following are my observations:- 1. Spreads on their demo account are fake, usually starting from 0, while on real account are between 1.2 to 6. {quote}
I would like to enlighten you that a demo account is indeed fake. Fake liquidity, fake money, fake trade execution, and yes, fake spreads. Hence the name "Demo account".
