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Pepperstone Forex

  • #841
  • Jul 23, 2012 2:21pm Jul 23, 2012 2:21pm
Quoting MattD
I'm also from Alberta. I moved from AvaFX to Pepperstone and it's been a pleasant experience thusfar. Ava had some brutal spreads.

I haven't tried to withdraw funds at Pepperstone yet so I can't comment on that, but at least my deposit was processed very quickly < 30 mins
Right on, thanks for the information MattD. Im going live with pepperstone like right now.
Whatever is happening right now has happened before and will happen again.
  • #842
  • Edited Jul 24, 2012 4:31am Jul 23, 2012 2:35pm | Edited Jul 24, 2012 4:31am
Quoting bogus
Thanks Ramy, but I was referring to Pepperstones website. Meaning if I am already on their website why do they suggest I open an account through the Aslan group. Surely it reduces the amount of commission Pepper makes.
Cheers.
From what info i gathered , One of the owners of Pepperstone is an ex-employee of Gomarkets(Correct me if i am wrong…) And Gomarket cut rebates for whatever reason they had. And he moved on from there but kept good relations with the Asian group. So that is probably one of the reasons why they are featured on their website. Plus, it gave them extra exposure to start with. It has been a while since I have read up on the story. Maybe a different broker, not sure… But I think those are some of the reasons.

Feel free to correct me, anyone.

The Asian group has a client base which go thru their forum and look at new postings. Which equals to potential new customers.

So to answer your question, in short, it’s a “sorta” give give relationship…
Fuck Forex Factory.Wake up people.
  • #843
  • Jul 23, 2012 2:51pm Jul 23, 2012 2:51pm
Quoting ramy3
From what info i gathered , One of the owners of Pepperstone is an ex-employee of Gomarkets(Correct me if i am wrong…) And Gomarket cut rebates for whatever reason they had. And he moved on from there but kept good relations with the Asian group. So that is probably the reason why they are featured on their website. Plus, it gave them extra exposure to start with. I am saying this in all reserve as it has been a while since I have read up on the story. Maybe a different broker, not sure… But I think those are the reason.

Feel free to correct me,...
Thanks mate.
FF journal: Peaks and Troffs
  • #844
  • Jul 23, 2012 2:59pm Jul 23, 2012 2:59pm
I've heard similar - Rumor is the Aslan group was the very first IB to Pepperstone and launched Pepperstone to their entire client list. In exchange for helping Pepperstone get up and running they agreed to have Aslan Group's link on their own site.
  • #845
  • Edited Jul 24, 2012 3:59am Jul 23, 2012 3:28pm | Edited Jul 24, 2012 3:59am
Quoting Forex2k10
I've heard similar - Rumor is the Aslan group was the very first IB to Pepperstone and launched Pepperstone to their entire client list. In exchange for helping Pepperstone get up and running they agreed to have Aslan Group's link on their own site.
Sounds about right. Everyone has to start somewhere. If they keep this up and are profitable, and keep giving us this quality of service + real segregated funds, well, this would be something to pass down to their children and next of kin. And they, and we, will all live happily ever after…
Fuck Forex Factory.Wake up people.
  • #846
  • Jul 24, 2012 4:27am Jul 24, 2012 4:27am
Anyone knows when MT5 would be up and running? I noticed that they added MT5 to their list of platforms.
  • #847
  • Jul 24, 2012 10:44am Jul 24, 2012 10:44am
Quoting Doji Star
I've started a live account with them this week. Their spreads are nice and opening trades isn't a problem, but I've noticed a delay of (sometimes) up to 5 seconds when closing trades! As I'm not really a scalper, this doesn't bother me that much but it can definitely hurt you in the long run.
I think this is from their MT4 implementation. Which is why I used their webtrader to manage my trades in the past, instant execution in their flash platform... Until xogee got sued to its grave.
  • #848
  • Jul 24, 2012 11:07am Jul 24, 2012 11:07am
Quoting sargedessy
Anyone knows when MT5 would be up and running? I noticed that they added MT5 to their list of platforms.
I've probably asked their support reps about this 5+ times... no word yet on a time frame and I've been told that once they get more info it will be updated on the MT5 page:

https://pepperstone.com/trading-plat...etatrader5.php

So now I just check that page out when I'm curious...

Personally, I've been playing with some other platforms that I feel would be a much better alternative to MT4... namely MultiCharts, which I've been testing out with a futures broker for the past month. If we could get MC connected through FIX that would be amazing.

Anyway, back to MT5..

Recently I read this from MetaQuotes' website:
http://www.metaquotes.net/en/metatrader5/news/3780

So we might not be far off... if not through the ECN Grid, then maybe something more direct.
FXGears.com
  • #849
  • Edited 7:17am Jul 28, 2012 6:03am | Edited 7:17am
A reply from Pepperstone:

Quote
The EDGE Environment is the most comprehensive, highest-performance portfolio of enterprise Forex Trading Technology for clients who seek to unlock unparalleled execution acceleration and reduced spreads. EDGE allows Pepperstone clients direct ECN trading via Metatrader 4 � The world�s favourite FX trading platform

FASTER. Up to 12x improvement in execution speed, Up to 10x latency reduction with additional optical fibre connections to Interbank Servers in New York. New One-Click MT4 order window for Ultra-Fast Trade Placement.

SMARTER. Pepperstone Price Improvement (PPI) Technology intelligently routes FX orders to detect market-hot spots and deliver optimal prices. Gain a complete market view with 24 Additional Tradable Currency Pairs. New Market Depth display in MT4 enables analysis of FX market order book and liquidity.

TIGHTER. New Dark Pool Liquidity access and enhanced ECN connectivity means EDGE Spreads are tighter � delivering cost savings on every trade for our Clients. Transparent and seamless access to the global currency market has never been more accessible to retail FX Traders than with EDGE.

See ECN Market Depth � Analyse the ECN order book to make more informed trading decisions. See pockets of liquidity and trade large lot sizes with confidence.

Depth of Market Application for MetaTrader4 allows your client to view full depth-of-book with live prices and associated quantities inside your company�s branded MT4 terminal in real time. The live display provides benefits to traders over the prevalent best bid/offer display found on most FX platforms. This is a great solution for ECN/STP brokers, and Market Depth easily integrates with our One-Click Trading application.

What is the Depth of Market?

Spreads in FX should always be considered in conjunction with depth-of-book. In FX, the larger the ticket size, the wider spread is. Depth of Market is a measure of volume available for transaction purposes for a particular instrument at a certain point in time. The best Offer (ASK) and the best BID are displayed in a table along with the capped volume available at given prices.

Dark Pool Liquidity
Because there is no central exchange in Forex, liquidity exists in multiple fragmented FX Pools across different ECN venues and bank systems. Pepperstone EDGE unifies these pools and delivers unparalleled depth of market to the retail FX Trader enabling Block Orders and High Volume Strategies such as Scalping and to be delivered to into the market with maximum price efficiency.

Someone said that support replied that all Razor accounts will be migrated to this in the next few weeks...

Any thoughts? Jack?

Link to discussion:
http://www.donnaforex.com/forum/inde...topic=3544.510 #514
Fuck Forex Factory.Wake up people.
  • #850
  • Jul 29, 2012 5:02pm Jul 29, 2012 5:02pm
Quoting ramy3
A reply from Pepperstone:



Someone said that support replied that all Razor accounts will be migrated to this in the next few weeks...

Any thoughts? Jack?
Apparently too many thoughts.. lol.. I started typing and next thing I know I had a good few pages of streaming thought on the subject... there's really quite a lot to cover. Give me a bit to sort it out and make it more clear and concise.
FXGears.com
  • #851
  • Jul 29, 2012 5:24pm Jul 29, 2012 5:24pm
What is EDGE, is it a new Platform? Thanks for explanation
Forex is a losers game.
  • #852
  • Edited 7:24pm Jul 29, 2012 5:50pm | Edited 7:24pm
Quoting Jack_Larkin
Apparently too many thoughts.. lol.. I started typing and next thing I know I had a good few pages of streaming thought on the subject... there's really quite a lot to cover. Give me a bit to sort it out and make it more clear and concise.
Of the many thoughts on Edge, a few of them are premature and require seeing the exact state to which it launches, so I won't cover them now, but others I'll go over.

(Disclaimer: I've been playing with Edge for a while now, so this comes from my experience with the actual product.)

Execution Time - Positive

Edge is faster.

I couldn't really notice the difference visually since I'm already just a spit away from NYC, but as measured by scripts there is an execution speed improvement. This is most noticeable for people trading outside of North America. I've reached out to other traders testing the platform from Europe and we're seeing ~50-200ms cut off their submit-to-fill execution time. I'd imagine similar improvements for traders from Pepper's backyard (Asia/Australia.)


Spreads - Mixed

They are tighter on some pairs. Other pairs are pretty much the same, fluctuate between periods of being slightly tighter to slightly wider, or in some cases are a bit wider. So right now this is a bit of a mixed bag.

If you primary trade the Majors then you'll see either the same average spreads or a ~0.01-0.1 pip tighter spread... Some crosses are averagely tighter (like EUR/JPY, EUR/CHF, CAD/JPY, AUD/CHF..) But some crosses are a bit worse than they were on Razor. So it isn't an across the board reduction.

Some people will be very happy while others not so much, so in the end it's more of a mixed result.

From what I understand, Pepper will be continually trying to improve this by adding on more liquidity providers and banks to their backend. Normally, saying this would sound like an easy cop-out.. but I've experienced the difference when they followed through with this promise and added UBS to Edge not long ago; there was a noticeable improvement.

Special Mention: XAU/USD spreads are HALF of what they were on Razor.. If you're a gold trader, this is a pretty big deal. You're gonna see a great reduction in your total cost of trading. I'm actually quite perplexed as to why Pepper isn't mentioning this in their info on the new Edge account. Undercutting most other brokers on gold spreads is noteworthy.


Tick Rates - Concerned

They can range from being about the same to ~25% less than on Razor depending on the pair (there is the odd outlier, but most rest ~15% less.) This is offset a bit by the speed increase in execution, however, I would still like to see this improved. The average trader will probably not notice this difference at all, but some traders may have to make some adjustments to compensate (people running tick scalping EAs for example, which hardly work well with most brokers as it is since tick scalpers are so aggressive and sensitive to slight changes in tick quality.)

On a positive note, metals have seen nearly double the tick rate. So that's a huge positive again for metals traders.


New pairs - Positive

There are a lot of new crosses available. This actually is a huge plus for me since I use Oanda for some strategies on more exotic crosses and now I have another alternative venue with decent spreads.


Depth of Market and One Click Trading App - Positive

Pepper has added a plugin that which allows for one click trading and displays a DOM within MT4... it's not bad as an addition to the platform for your average retail trader.

The DOM is going to be a good tool to make sure the market can take your large order without slipping you to fill it.

One click trading works as it sounds.

A hidden gem in this plugin is the chart based order management. You'll be able to see stop and TP order lines show up on the chart as movable objects. You can adjust a level by a simple click and drag. It's a nice feature.



Pepperstone Price Improvements - Just Marketing, nothing new.

This is a little heavy on the marketing fluff... but I suppose it's notable since they've replicated some aspects of what Integral's Grid would be doing in the background.

Don't get me wrong, I'm not putting PPI down... I'm just saying it's something traders already expect from an environment that aggregates multiple price feeds.



TL;DR: Execution = good, Spreads = mixed, Tick rate = concerning. More improvements coming before and after launch. Gold traders will be very happy.
FXGears.com
  • #853
  • Jul 29, 2012 5:54pm Jul 29, 2012 5:54pm
Quoting trader121
What is EDGE, is it a new Platform? Thanks for explanation
It's a new account that will eventually replace Razor. It's done in house, without using Integral's ECN grid, and connects directly to the banks/LPs.

It will still use MT4, and will gain a few new platform features through a plugin to the platform.
FXGears.com
  • #854
  • Jul 29, 2012 9:23pm Jul 29, 2012 9:23pm
Nice work Jack.
  • #855
  • Edited 11:45am Jul 30, 2012 3:38am | Edited 11:45am
Quoting Alpha-Bet
...
Who's this guy? and what does he want? lol

Yes, thank you Jack.
Fuck Forex Factory.Wake up people.
  • #856
  • Aug 1, 2012 10:01am Aug 1, 2012 10:01am
Quoting Jack_Larkin
Depth of Market and One Click Trading App - Positive

[indent]Pepper has added a plugin that which allows for one click trading and displays a DOM within MT4... it's not bad as an addition to the platform for your average retail trader.

The DOM is going to be a good tool to make sure the market can take your large order without slipping you to fill it.

One click trading works as it sounds.

A hidden gem in this plugin is the chart based order management. You'll be able to see stop and TP order lines show up on the chart as movable...

Hi,
Thank's Jack_Larkin for information.
I have a standard account , but i do not see where download the plugin "Depth of Market and One Click Trading" . Can you give me a link
thank you very much
  • #857
  • Aug 1, 2012 10:36am Aug 1, 2012 10:36am
Quoting FrenchTrad
Hi,
Thank's Jack_Larkin for information.
I have a standard account , but i do not see where download the plugin "Depth of Market and One Click Trading" . Can you give me a link
thank you very much
It's not released yet. It will be a feature of Edge when Edge is released.

I have no idea if they'll be offering a DOM for standard accounts... The one click trading and order management features make me think it would be worth having on standard accounts but the DOM might not be useful.

If I find out any more info on that, I'll relay it here.
FXGears.com
  • #858
  • Aug 3, 2012 5:58pm Aug 3, 2012 5:58pm
Quoting Jack_Larkin
It's not released yet. It will be a feature of Edge when Edge is released.

I have no idea if they'll be offering a DOM for standard accounts... The one click trading and order management features make me think it would be worth having on standard accounts but the DOM might not be useful.

If I find out any more info on that, I'll relay it here.
What is the depth of market like on eurusd? Good liquidity on average in london session(eurusd)? How much?
  • #859
  • Aug 6, 2012 8:11pm Aug 6, 2012 8:11pm
Quoting Supertrader9
What is the depth of market like on eurusd? Good liquidity on average in london session(eurusd)? How much?
I was holding off responding to this just yet since recently I noticed some changes with Edge liquidity and spreads and wanted to dig a bit deeper.

When I wrote about Edge before, I mentioned they planned on making more improvements before and after the official launch.. and to be honest I thought was being fed that just to keep me happy as I was voicing some of my concerns to them.... but from what I can tell, they have some new sources of liquidity added to Edge since the numbers I'm seeing now a little better over my last analysis (which was based off data recorded a month ago.)

I started poking about the traders who are also testing Edge, and heard a rumor that one heard Pepper just added CitiBank as a LP to Edge. (I haven't been able to confirm this with Pepper directly just yet, but it would explain the improvement...)

We're not talking night and day differences here, but it's a gradual improvement just as they suggested would happen.

This does mean I gotta toss my old tick and spread analysis out the window and start recording a new sample set this week...lol... my fingers are crossed for better tick rates too.


Now, about your liquidity question..
Right now, I'm seeing ~55mil average per side within a pip or less on EUR/USD... but it can go up to 80+mil at times. This is just what I'm observing at the moment (and this is the Asian session as I'm writing this, which is known for being slightly less liquid than the London/NYC overlap.)

I remember back in November/December of last year, when I was talking with support chat about Razor's liquidity, and the chat support rep told me ~40-50mil within a pip for the pair... so Edge is looking good here too.


Anyhoo... hope that helps for now.
FXGears.com
  • #860
  • Aug 7, 2012 10:20am Aug 7, 2012 10:20am
Don't expect too much from EDGE. Only Gold and Silver are much better but the fx spreads haven't improved at all. They are even worse, especially at non-majors. Here is a comparison from today: http://s7.directupload.net/images/120807/8arsbzrl.png
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