
Pepperstone AU accounts being moved to Pepperstone UK 0 replies
Pepperstone suspends Forex trading in the UK 6 replies
Pepperstone Live Server Reliability 53 replies
List pepperstone and icmarkets crashes here 3 replies
Chart comparison between Pepperstone Razor Vs Other ECN 17 replies
DislikedOT abit here, just wanna get an idea how these guys manage to offer 'raw ECN' quotes for something as small as 0.01 lots? correct me if I'm wrong, but my impression is that ECNs generally don't entertain anything below 1 lot, much less 0.01lots.Ignored
DislikedOT abit here, just wanna get an idea how these guys manage to offer 'raw ECN' quotes for something as small as 0.01 lots? correct me if I'm wrong, but my impression is that ECNs generally don't entertain anything below 1 lot, much less 0.01lots.Ignored
DislikedErr... from what I understand, the orders are routed straight to their liquidity providers across Integral's ECN grid. Integral having a facility for the 1k lot sizes. Since the quote itself is fed from Integral, it can't exactly be messed with... but please do post the email you get in return from Pepperstone.
I think you're misunderstand how an STP works. They aren't waiting for enough pending orders to submit a basket.. they are passing through all orders and can't claim to be an STP if they do anything to it in the meantime.
I'll give a good example, long ago when FXCM started their microlot division, FXCM's standard accounts couldn't do microlots. FXCM Micro opened up separately to use their existing LPs but staged the orders and submitted them as a basket once sufficient orders were built up. (So FXCM was taking the other side of the trade first, then hedging it once they had a large enough net balance on their books to be able to submit an order to their LPs.) In order to do this, they made it very clear that FXCM Micro was a market maker (they didn't hide this at the time,) and in turn they even has artificially lowered spreads to attract new clients... Since experienced traders wanted to take advantage of the lower spread, and FXCM didn't want to be holding huge amounts of unhedged risk on their books, they set a limit of $5k max deposits on all Micro accounts, forcing larger accounts to move to their standard service.
(Fast forward to about 3 years ago) FXCM later switched to the STP model once their major banks started to accept micro lot orders (most major LPs have opened up to accepting microlots or have a facility for accepting small lot orders, which is to say they take on the small lot order risk til they themselves can bundle it and hedge it) Once FXCM switched, and it became easy to route micro lot orders to their LPs, the reason for FXCM Micro's existence kinda faded... they removed the deposit cap, and upped the spreads to match their standard service. The only real difference these days is a lower initial deposit coupled with email support only (no live chat, no phone calls)...
TL;DR: An STP can't basket your order and must be a 'straight through' process. They are able to markup the spread if that's how they want to account for their fee. Once your order has been confirmed, that's it, you got filled. If whoever filled your order (LPs across Integral's ECN grid) is holding risk because of it, that's the LP's problem. FXCM is a good example of where a market maker who used to basket orders together ditched that model and went STP since most LP/banks now take microlots orders or at least have a way to handle small lots while being able to confirm the fill at the quoted price.
And as I said, please post the reply you get from Pepperstone. There might be something specific about how they handle this that's beyond the conventional STP model.Ignored
DislikedOT abit here, just wanna get an idea how these guys manage to offer 'raw ECN' quotes for something as small as 0.01 lots? correct me if I'm wrong, but my impression is that ECNs generally don't entertain anything below 1 lot, much less 0.01lots.Ignored
Disliked... is it because pepperstone use 5 digits with prices? any help appreciated.Ignored
Dislikedthis is only pepperstone thread i know of.
i cant use easyorder with pepperstone. invalid stops error message.ive enabled dll imports,live trading etc.
is it because pepperstone use 5 digits with prices? any help appreciated.Ignored
Dislikedthis is only pepperstone thread i know of.
i cant use easyorder with pepperstone. invalid stops error message.ive enabled dll imports,live trading etc.
is it because pepperstone use 5 digits with prices? any help appreciated.Ignored
QuoteDislikedPepperstone is a Whitelabel of Axitrader's Integral price feed. They don't have a server of their own they use the Axitrader server. You can do the test yourself. Just do a trace route on their servers:
live.pepperstone.com ;and
razor.pepperstone.com
you will note the go back to the following -
us-live01.mt4tradeserver.com ;and
axius-mt4-p007a.sccnj04.client.logicworks.net
You will note that after doing a who'is search the technical contact for the domain "mt4tradeserver.com" is none other than:
Technical Contact:
AxiCorp
Scott Edwards ***@axicorp.com.au)
61299655822
Fax:
206/220 Pacific Hwy
Crows Nest, NSW 2065
AU
The reality is that Pepperstone is just a start-up company that does not even have their own Australian Financial Services Licence, they rent ONE !...
Axitrader on the other hand are a well established comapany that has been around since 2007.
Would you ever trade with a company that was started up in 2011 by an internet marketer and an ex-forex market maker from go-markets who rent an Australian Financial Service Licence?
Well it seems like some people are willing to take the risk... good luck to them I say.....
DislikedJust tried it myself and it does bring up the info...
http://network-tools.com/default.asp...epperstone.com
http://network-tools.com/default.asp...radeserver.com
http://network-tools.com/default.asp...=+209.81.91.22
Taken from another froum here:
http://www.forexbrokerz.com/reviews/...der-whitelabel
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Pepperstone is a Whitelabel of...Ignored
DislikedWho cares? If you trade forex, you are taking risks anyway. Since 90% of the Traders lose anyway, the probability of losing Money during "normal" trading is a Million times higher than losing because of the broker.Ignored
DislikedInteresting. Especially the part where you say that they rented their license. What do you mean by "rented"? Is this something you can legally do?Ignored
Disliked[...]
I am actually hoping that it is a "who cares" sorta thing.
Hope Jack will chime in his thoughts on this one.
Cheers!Ignored
This list can go on for quite some time...
These are all big name brokers.. not some fly-by-night operations..
It all comes down to an economy of scale problem. Established service providers have a price advantage over the cost of starting from scratch. It simply makes more sense to go through a service/technology provider who can get you up and running cheaper than do it yourself and risk failure with higher costs.
Practicality aside, what do we know:
So really, what does it matter that they work with partners to help deliver their services?
Or maybe we should lynch Axi as well since they use Integral as a technology provider (platform, price feed, etc..) as well?
What makes this instance any different than the common practice found throughout the financial industry (and in business in general?)
Are you guys starting to see how this doesn't matter, and is, in fact, quite a common thing?
What matters is how Pepperstone treats their clients, they are regulated, they deliver on what they promise... and on that note, I see no issues at all.
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*** Recently I got pitched by another Australian fx brokerage, and when I mentioned the brokers I use (Oanda - my main broker, and Pepperstone) they ignored the Oanda remark and jumped right into the "but Pepperstone is just a whitelable of Axi" line.
The rep was very happy to give details on how I can "prove" the Axi/Pepperstone relationship and whitelabel. And he went on about it as if I should be afraid to do business with Pepper. The rep even mentioned the license status thing...
I had to stop the guy and explain to him, very clearly, why a rep conducting "personal selling" doesn't win clients by bashing the competition. How he should have been talking about the strengths of his own brokerage instead. (In my former career as an IT engineer, I worked closely with professional salesmen and began to respect sales and customer service etiquette, which this rep from the other broker had none.)
This was at the end of February.. the broker had just started calling a lead list of hundreds of traders and (if the other calls were anything like the one I got) spreaded this 'fear' around to people who said they traded with Pepper.
It's very interesting that this kinda stuff hits forums within a month from when I got that sales call with the same info... Isn't it also interesting how this comes after Pepper has scooped up so much market share within Australia?
I'm not saying they are related (and as you've noticed, I didn't mention the other broker's name for that reason)... It is just a coincidence, and quite one at that. I think everyone should just keep objective when viewing anything being spread around about any broker (since there are other parties who would be financially motivated to spread it.)
Just sayin'