Pepperstone Forex

Christ they typo'd 'advice' again. *rollseyes*

lol

lol, you dumbass. That's not nice... You're bored again, eh... Told you, it is spelled differently in Australia.

Love y'a mate. he, he. May the trading gods be with you!

I'll start by saying this will pretty much be the only time I'm going to respond to you directly. You either have come here specifically to spread FUD (fear, uncertainty, and doubt) with malicious intent, or you actually don't know better.. in either case I don't expect any response from you to be constructive.

If you're short, the ASK price is the price that your order is executed on, not the BID... everything you referenced was bid pricing.

You were trading during a market event (news) where the metals market and LPs widen spreads (not Pepper.) You'd have to do a bit of research to find out what the applicable price would have been on the ASK quote at the time before you can judge any difference between brokers, as all your sources are the BID.

Each broker would have had a different spread in effect, and thus a different ASK quote..


If the T/P was never triggered, then the ASK price probably never got that low during the market event. (Keep in mind, that entire range of price happened within a minute, that's clearly some market event driving a volatile reaction, spreads are going to be wider than during non-news times.)

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Your screen shots aren't very useful here as you're just showing what the order was set to before you closed it manually, you could have set it to anything then closed the order to get your result.

I would ask you to post your MetaTrader's log journal, which will show order modifications, executions, and terminal errors.. but I have a feeling your intentions are malicious and the journal can be doctored/faked as well...

Ikon Group has multiple price feeds, from fixed spread made markets to multiple types of floating spreads differentiated by account type and platform... so I have no idea which quote feed you are referencing.

However, as I'm about to point out with your other broker examples, I don't think it makes a difference since your numbers are quite a bit off and you're using the BID price instead of the ASK.

NetDania is not a broker, they are a chart package that blends multiple sources of price info and smooths it out.

FXCM uses NetDania as an alternative charting package, and based off FXCM's price feed the BID low (for the sake of example since you're using the BID price in error) was 1715.22 (this was because FXCM's spread at the time was wider at the low point of that movement.) Yet their ASK price was higher.

NetDania's direct site shows the low you quoted, yes, but that's blended out on their feed..

Are you starting to understand the bid/ask price difference yet? Can you see how this might impact the price your trade is executed on if you're short or long?

Can you tell that I'm a bit mortified that you claim to manage other people's money and are making this kinda mistake? :/


But wait, there's more:


Actually, Alpari's ECN feed shows their BID low at 1715.60

http://i.imgur.com/2vqXb.png

Their ASK, which again is what you would have traded on, was much higher... again, because of the widened spread during a volatile market event.



So with both FXCM/NetDiana's feed, and Alpari UK's ECN feed, your trade would have been worse off than with Pepper's quote. (at least on the bid side)

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Think of it this way... during major news release, we can see a currency go 4-5x it's liquid average spread quite easily... If gold did that, we'd see a few dollars worth of a spread if not more since there's less LP's participating in that market. That puts the ASK price far from triggering your order.

Gold (and metals in general) doesn't have the same retail volume and often LP's are just hedging out instantly instead of matching orders.. the LPs have to widen their quote in a faster moving market to do this. Watch gold in the market watch tick chart window with the ASK price enabled (right click > show ask) during the next major USD based news release to see what I mean... compare it to how gold futures trade... This is the market, not Pepper...

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Lastly, you accused Ramy of being paid off by Pepper... because he doubts you and the nonsensical evidence you provided.

Of all the people posting here, you have 4 posts to your name, all on this thread tossing around accusations and negative assumptions, and you signed up to this forum just to do so.

On the other hand, Ramy has probably posted more music videos here than actual content... and when he does post actual content, it's to help fellow traders and be constructive, greatly contributing to the ForexFactoy community.

I wonder who really has a motive here?

Yeah, what he said! lol

lol, Jack replied, omg...

Still love y'a.

It was all garbage to start with anyways...

lol, thks. Not sure how to take it... Hey, i like music.

So there you have it folks.

Night all!

Hi there fellow canucks, came across this forum by chance, and just wanted to say hello. :-)

I'm currently not with this broker, although their low spread does intrigue me. On the other hand, I do like the security of going with a canadian firm, with the guaranteed fund protection.

Btw, Ramy, did I get this right - are you an Aussie living in QC?

All though some “Aussies” would "love" to have me be part of their clan..., I am a full fledged Hungarian Quebecer. Wouldn’t mind moving to warmer weather though.

Welcome to the forum/thread!

That's pretty cool Ramy. I haven't met many (any?) Hungarians here. Good luck with your full time trading endeavor. It ain't easy, but it sure is worth it!

Thks. Back at you. Hey, nothing worthwhile is easy...

Just a quick vote - i operate 7 or 8 live accounts, 2 with pepper (1 razor, 1 standard) including Armada, LMAX, etc and must say i have never had similar problems with Pepper.

The only problem i have seen historically is slow execution on the standard account, and the odd disconnect (no worse than most MT4) -i haven't checked lately - but nothing has stood out as being poor

Yeah, just really, really don’t like the leverage Canadian companies are offering. From what info I gathered, Australian regulated brokers offer a 50k insurance. Maybe wrong here, but that is the impression I am under… Taken from some documentation i read. Will have to look into this again.

Correct me if i am wrong. Hey, i ain't perfect.

+ maybe real segregated accounts, i hope they really are providing this...Which means your money is separate from operation expenses… Therefore you have a greater chance of getting some back (if not all) if something should happen. (-) lawer fees.


Did seem to help MFglobal australian clients.All though not all funds where segregated
http://www.theaustralian.com.au/busi...-1226461134133

Maybe Alpha-Bet, (If he is still around)...Or, another Aussie could clear up the subject.

Ah ha, went to the source. Should reply shortly. Or, tomorrow, no worries.

Must say again, live chat is pretty, pretty quick. i like that!

If I recall correctly, it's seg funds and liability insurance on the company. It's in their terms that the seg funds can only be used to fulfill client obligations/transactions, and be used in ways governed by the Corporations Act in Australia as a client trust fund.

So basically, Pepper's corporate/operations costs won't touch the funds, anyone winning judgement over Pepper won't put the funds in jeopardy (the insurance), and outside of client transactions (and covering margin required by said transactions at the liquidity providers) the funds can only really be used for safe, interest-earning, tasks while it's in their hands.

https://pepperstone.com/company-prof...-licensing.php


This page also says they use the FSO (an Australian Financial Ombudsman) as a 3rd party to mitigate any disputes between clients and the broker that aren't resolved normally.

Nothing stopping them from doing otherwise like others did. I am just curious to see if i remember correctly what i read. They are still rock solid so far. Just askin... Hey, it's my money, lol.

They do have asic goverment insurance for bank accounts +.
https://www.moneysmart.gov.au/managing-my-money/banking

Still reading through some of this...

They've stated it in their Terms of Service and Client Agreement, going outside of that would put them in a bad legal spot (misrepresentation.). Plus, they are governed by the Corporations Act as to the use of a client trust account.

I hear you on the 'my money' part. I'd love to see additional programs by the ASIC, but the financial services laws in Australia do take a few steps to protect client funds.

$50,000? That's not a whole lot. The Canadian agency (CIPF) covers up to 1 million, which should be enough for most traders.

This is the same agency that enabled all canadian MB Trading clients get back their full capital within days after MB's collapse.

Their website has a members list. My personal risk tolerance dictates that I would only trade with brokers that are on that list (I'm currently with IB & Oanda). By the way, IB Canada is headquartered in Montreal, another bonus for those of us in Quebec.

50:1 leverage (or 33:1 in reality since most majors have a 3% margin rate) is more than enough for me. I'm much more concerned about the safety of my hard earned capital.

In the end, it comes down to whether you need/want a high leverage vs. concerns about your money's safety.

Yeah, tough one for me. I need leverage. So, i always look for the best safest options. If possible.

hey, glad to see you back. You canuck you.

I spread out the risk too.... 50 here, 50 there... Chances are they won't all go belly up at the same time, i hope...

Was with IB for a while, commissions ate into my profits (hence me being on standard here) and had a “tiff” with them, so closed the account.
Actually no comission based accounts anywhere. Because of how i trade.

Think you mean MF Global.

In that case, MF's Canadian client funds were never missing. Even their forex cleints, who didn't get transferred to RBC Dominion Securities like the futures and equity client accounts, got a check for their full balance directly from the assets of MF Global Canada's bankruptcy trust account (KPMG was overseeing it.)

CIPF got some nice press coverage, but aside from keeping track of the ordeal and getting 'notice' of the bankruptcy... they did little else and didn't pay out a dime.

Proper regulations and audits, segregated client funds, and good management within the Canadian division of MF Global were the reason Canadian clients were unharmed, not CIPF or any insurance.

(That's not knocking CIPF, it's a great program, I'm just being clear with your example.)

Oh, by the way, that's also the same case for PFG Best's Canadian clients... not a dime lost for Canadian clients because PFG Best's Canada division has their books in order and assets in the right place (again, thanks to regulations, seg accounts, etc...) and CIPF didn't have to pay out anything.

Just saying, regulation and fiscal responsibility can go a long way.

Thanks, glad to be here Ramy. Although it feels a little weird since I'm not a client of Pepperstone. Don't want to hijack this thread.

Too bad there's not a forum for canuck traders (or is there?). I'm sure there are quite a few of us on FF. Now that there won't be any hockey anytime soon. We need a place to vent! LOL

Back to the topic on hand. I assume you're using a leverage that's higher than, let's say, 10:1. Do you find that your equity curve has some wild gyrations or your method has very small SL's that cap your exposure to a decent level?

I get where you’re going, but… No, gyrations or small stop losses. Won’t give my secret away. There is no wrong or right way to trade, just profit and loss. To each his own.

Good luck!

yes venting feels good.