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Pepperstone Forex

  • #781
  • Jul 8, 2012 9:16pm Jul 8, 2012 9:16pm
Quoting stulic
Had a really bad experience this morning when silver ticked down to almost zero at rollover and wiped my account in one second due to two little buy positions I carried over the weekend. Apart from being stopped out account balance even went to -$5000.
It took them 3.5 hours to restore my account during which time I was unable to manually close other profitable trades before China released inflation figures.

Needless to say I'm really pissed off now for losing potential 110 pips in three orders sell EUR/AUD and GBP/AUD and buy AUD/JPY which...
holy crap! did u ask for explanation on why such things happened? i will be v.pissed too if i am in your shoe!
  • #782
  • Jul 8, 2012 9:24pm Jul 8, 2012 9:24pm
Quoting stulic
Had a really bad experience this morning when silver ticked down to almost zero at rollover and wiped my account in one second due to two little buy positions I carried over the weekend. Apart from being stopped out account balance even went to -$5000.
It took them 3.5 hours to restore my account during which time I was unable to manually close other profitable trades before China released inflation figures.

Needless to say I'm really pissed off now for losing potential 110 pips in three orders sell EUR/AUD and GBP/AUD and buy AUD/JPY which...
i'm really sorry for your experience. you should ask them to reimburse you the loss. sorry to say this, but after pepperstone, i would never trust australian companies anymore. i had bad experiences with several other australian companies (not in forex business), they have been consistently lack of professional service and crappy customer support. none of them provide the same level of services as the canadian or u.s companies.

i switched to pepperstone b/c of its low spread, and more importantly, best mobile trading app and nice webtrader. but after couple of months, their provider xogee is involved in a law suit case with metatrader. I mean WTH!
i'm switching my account to LMAX if they can not provide an alternative solution for web trader soon.
  • #783
  • Jul 8, 2012 9:32pm Jul 8, 2012 9:32pm
Quoting fxking
holy crap! did u ask for explanation on why such things happened? i will be v.pissed too if i am in your shoe!
Their explanation is of course it was a bad tick from one of their feed providers, the silver chart was restored quickly and after 3.5 hours of emails phone calls and live chat they temporarily applied $10,000 credit to my account and restored all open trades I had, all good so far but how can I argue that I was going to close audjpy buy at 81.34 (+14), gbpaud sell at 1.5162 (+26), euraud sell at 1.2013 (+38) and both gold and silver long at their tops in the meantime?
Never had any problems with Pepperstone before I must admit.
Don't get mad, get even!
  • #784
  • Jul 8, 2012 9:50pm Jul 8, 2012 9:50pm
Quoting stulic
Their explanation is of course it was a bad tick from one of their feed providers, the silver chart was restored quickly and after 3.5 hours of emails phone calls and live chat they temporarily applied $10,000 credit to my account and restored all open trades I had, all good so far but how can I argue that I was going to close audjpy buy at 81.34 (+14), gbpaud sell at 1.5162 (+26), euraud sell at 1.2013 (+38) and both gold and silver long at their tops in the meantime?
Never had any problems with Pepperstone before I must admit.
thanks for your explanation,so u r still having positive impression of Pepperstone & will stay with them?
  • #785
  • Jul 8, 2012 10:07pm Jul 8, 2012 10:07pm
Quoting fxking
thanks for your explanation,so u r still having positive impression of Pepperstone & will stay with them?
I wont be pulling out any money because of it that's for sure, it's only a mini account after all.
Don't get mad, get even!
  • #786
  • Jul 9, 2012 5:19am Jul 9, 2012 5:19am
I think this type of event could be possible with many brokers I've encountered similar with trading silver and using metatrader.

The important point here is, if they were able to return your balance and positions to as they were before.

In many ways this has similarities to a flash crash (electronic) which brokers should have safety measures in place to protect clients, I have seen or heard of any yet.
My comments are not to be taken as trading advice, not a financial advisor
  • #787
  • Edited 8:52am Jul 9, 2012 8:31am | Edited 8:52am
Quoting haoqfu
i switched to pepperstone b/c of its low spread, and more importantly, best mobile trading app and nice webtrader. but after couple of months, their provider xogee is involved in a law suit case with metatrader. I mean WTH!
i'm switching my account to LMAX if they can not provide an alternative solution for web trader soon.
You can use the MetaQuotes official mobile apps as I posted earlier. Jump on Pepper's chat support and they can help you get setup.

I want Xogee back for sure but MT4 Mobile from MetaQuotes works in the meantime.

EDIT: I see you're the one from before who was talking about it, so you're already aware of MT4 Mobile. good good..

--

Also, from earlier in your message the trader was credited for the bad tick. It was obviously an error.
FXGears.com
  • #788
  • Jul 9, 2012 8:40am Jul 9, 2012 8:40am
Quoting stulic
Their explanation is of course it was a bad tick from one of their feed providers, the silver chart was restored quickly and after 3.5 hours of emails phone calls and live chat they temporarily applied $10,000 credit to my account and restored all open trades I had, all good so far but how can I argue that I was going to close audjpy buy at 81.34 (+14), gbpaud sell at 1.5162 (+26), euraud sell at 1.2013 (+38) and both gold and silver long at their tops in the meantime?
Never had any problems with Pepperstone before I must admit.
I expected to hear you got the credit (it was obviously a bad tick, which for silver has been happening once in a while) but it's cool they also restored your positions atop of that.

Did you have a TP set on the positions before they were closed? (they will show up in your order history) If so, you'd be able to approach them about it as well. But without the TP order in place on the position it might be hard to argue what you intended to do...

But you got the credit, and in just a few hours from when you contacted them, that's good... With one of my former brokers I had to wait nearly a week as they did an "investigation" into a bad tick that triggered my stop order once before they finally reimbursed me. Pepper has always been fast there.

Remember, tech problems happen to everyone (broker, client), it's how the broker deals with it that matters.
FXGears.com
  • #789
  • Jul 9, 2012 8:49am Jul 9, 2012 8:49am
Quoting cogs
I think this type of event could be possible with many brokers I've encountered similar with trading silver and using metatrader.

The important point here is, if they were able to return your balance and positions to as they were before.

In many ways this has similarities to a flash crash (electronic) which brokers should have safety measures in place to protect clients, I have seen or heard of any yet.
They returned his balance within "3.5 hours" from when he first contacted them about the issue. I remember waiting a week with another broker I used to use for the same kinda issue.

Yeah, I haven't had any bad ticks with any of the currencies as of yet... but Silver has been an issue, as I've noticed bad ticks before. I helped another trader approach Pepper about a bad silver tick recently.. and it was resolved quickly just the same, balance was adjusted, and the trader was happy.
FXGears.com
  • #790
  • Jul 9, 2012 9:39am Jul 9, 2012 9:39am
I can't agree more!



Quoting cogs
I think this type of event could be possible with many brokers I've encountered similar with trading silver and using metatrader.

The important point here is, if they were able to return your balance and positions to as they were before.

In many ways this has similarities to a flash crash (electronic) which brokers should have safety measures in place to protect clients, I have seen or heard of any yet.
  • #791
  • Jul 9, 2012 10:11am Jul 9, 2012 10:11am
anyone have an experience trade the news with pepperstone??
straddle and some other stuff like this.
  • #792
  • Jul 9, 2012 10:42am Jul 9, 2012 10:42am
Is someone of u using Pepperstone's API?

If yes, how is it?
Forex is a losers game.
  • #793
  • Jul 10, 2012 2:07am Jul 10, 2012 2:07am
Quoting jajano
anyone have an experience trade the news with pepperstone??
straddle and some other stuff like this.
I have to say last Friday's NFP was pretty good for me with some positive slippage, had a pending long order in gold filled 230 points lower then set and after ticking up about 2000 points I was able to manually take half and later close the rest when it started dropping quickly.
No freeze, no disconnections, no requotes... spreads widen heavily but not for very long, all fine I have to admit.
Don't get mad, get even!
  • #794
  • Jul 10, 2012 6:35pm Jul 10, 2012 6:35pm
hi guys¡¡¡ only one thing i have to say about this situation: PLEASE forget trade gold, silver, and other exotic pair in Metatrader platform¡¡
  • #795
  • Jul 11, 2012 4:17am Jul 11, 2012 4:17am
Quoting cocov
hi guys¡¡¡ only one thing i have to say about this situation: PLEASE forget trade gold, silver, and other exotic pair in Metatrader platform¡¡
so emotional comment have you lost a lot??
  • #796
  • Jul 11, 2012 8:27am Jul 11, 2012 8:27am
Hi guys,

I'm planning on opening an account with peppermint. I swing trade and close my positions after 1-3 days. Is a standard account enough?

I've read the whole thread and I know people suggest standard if you're not into scalping, however on Jack's post:

"Razor.. I ran some spread analysis and on average I'd be getting about 0.1-0.3 pips price improvement going with Razor over the standard account after you factor in ..."

and also by Alpha-bet:

"I'm .2 pip (average) better off with razor. Run both and see what suits."

Does that mean factoring commissions and everything you still get a better deal with the razor overall compared to the standard account (even if standard has no commissions)?
  • #797
  • Jul 11, 2012 10:34am Jul 11, 2012 10:34am
Quoting kiko_
Hi guys,

I'm planning on opening an account with peppermint. I swing trade and close my positions after 1-3 days. Is a standard account enough?

I've read the whole thread and I know people suggest standard if you're not into scalping, however on Jack's post:

"Razor.. I ran some spread analysis and on average I'd be getting about 0.1-0.3 pips price improvement going with Razor over the standard account after you factor in ..."

and also by Alpha-bet:

"I'm .2 pip (average) better off with razor. Run both and see what suits."

Does...
It depends a little on which pairs you like to trade, as the commission fee is based on your order volume and account base currency and independent of the pair you are trading. Best thing is to do a little test for yourself, log the ticks for a day or two and see which works out best.
  • #798
  • Jul 11, 2012 11:12am Jul 11, 2012 11:12am
Quoting rooicol
It depends a little on which pairs you like to trade, as the commission fee is based on your order volume and account base currency and independent of the pair you are trading. Best thing is to do a little test for yourself, log the ticks for a day or two and see which works out best.

Uhm, sorry but what does logging of ticks do? Don't have any idea about these things. Could you eplain to me what it's for? Thanks!
  • #799
  • Jul 11, 2012 11:55am Jul 11, 2012 11:55am
Quoting Panie P
so emotional comment have you lost a lot??
Not at all...it's just that all this thing turns out to evident. Lack of liquidity, manipulated market and so on.(gold, silver, exotic pairs)
I've been trading with PP about two months in majors, and i have to admit that all trades were so far so good.
  • #800
  • Jul 11, 2012 4:57pm Jul 11, 2012 4:57pm
Quoting kiko_
Uhm, sorry but what does logging of ticks do? Don't have any idea about these things. Could you eplain to me what it's for? Thanks!
so you can calculate what the mean spread is...
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