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Pepperstone Forex

  • #1,481
  • Dec 10, 2012 7:39am Dec 10, 2012 7:39am
Im thinking about change broker now im trading with Admiral Market but spread there are huge especially that i prefers trading on 15m tf and taking a profit 15-25 pips. With 900 dollars on account its worth ?
  • #1,482
  • Dec 10, 2012 8:19am Dec 10, 2012 8:19am
does this broker have fixed spreads and allow US clients? Does any broker? thanks.
  • #1,483
  • Dec 10, 2012 12:58pm Dec 10, 2012 12:58pm
Quoting Magrami
Im thinking about change broker now im trading with Admiral Market but spread there are huge especially that i prefers trading on 15m tf and taking a profit 15-25 pips. With 900 dollars on account its worth ?
Look at pepperstone spread and admiral markets spread and see which is smaller.
  • #1,484
  • Dec 10, 2012 1:07pm Dec 10, 2012 1:07pm
Quoting c3p0
does this broker have fixed spreads and allow US clients? Does any broker? thanks.
On winning trades you get cone ice cream with lil cherry on top
  • #1,485
  • Dec 10, 2012 1:13pm Dec 10, 2012 1:13pm
Quoting Alpha-Bet
On winning trades you get cone ice cream with lil cherry on top
lol
Fuck Forex Factory.Wake up people.
  • #1,486
  • Dec 10, 2012 1:13pm Dec 10, 2012 1:13pm
Quoting c3p0
does this broker have fixed spreads and allow US clients? Does any broker? thanks.
No US clients. If you live anywhere else, the world is your oyster…

Try these guys ,if i remember correctly they still accept US customers.
http://www.forexfactory.com/showthread.php?t=268462
Fuck Forex Factory.Wake up people.
  • #1,487
  • Dec 10, 2012 1:17pm Dec 10, 2012 1:17pm
Quoting ramy3
Yeah, MT4’s historical data sucks. You need to find your own data and import it. Not a Pepper issue.
Run this script with ANY new MT4 install on ANY broker.

Let it run for 15-20 minutes, because it will be sucking down M1 data for every pair. You can watch it working in the Journal tab if you want.

Script attach gets saved in /experts/scripts folder; close your MT4 and then run it.
Attached File(s)
File Type: mq4 LoadHistory-1 script.mq4   8 KB | 396 downloads
  • #1,488
  • Dec 10, 2012 1:19pm Dec 10, 2012 1:19pm
Quoting ramy3
No US clients. If you live anywhere else, the world is your oyster…

The best thing about America is that it is where they keep all Americans at a safe distance
  • #1,489
  • Dec 10, 2012 1:21pm Dec 10, 2012 1:21pm
Quoting dancingphil
The best thing about America is that it is where they keep all Americans at a safe distance
Lol, good one. Thank god... Just kidding.
Fuck Forex Factory.Wake up people.
  • #1,490
  • Dec 10, 2012 1:22pm Dec 10, 2012 1:22pm
Quoting Alpha-Bet
Look at pepperstone spread and admiral markets spread and see which is smaller.
Best way to prove your words is to use this Indy

it sits on your chart and gives your spread result as NOW/Min/Max/Average pips.

The indy keeps a live tally, and resets - so watch out for connection interrupts.

I trade Pepperstone Razor. That means 0.75 pips commission; plus 0.1 - 0.5 pips spread - max for me is about 1.25 pips per trade, and often less than that.
Attached File(s)
File Type: mq4 Spread.mq4   2 KB | 471 downloads
  • #1,491
  • Dec 10, 2012 1:28pm Dec 10, 2012 1:28pm
Quoting ramy3
lol

Maxx also gets a wafer...
Sorry Maxx
  • #1,492
  • Edited 2:32pm Dec 10, 2012 2:09pm | Edited 2:32pm
Quoting PaladinFX
This thread is informative, and pretty funny at times ... which is why I've been lurking here for about a year, despite FF not being my 'main forum'.
I guess for me it is a hangout spot.

Jack, Ramy and Alpha (and others, too, of course) provide valuabe information and sometimes useful tools ... plus entertainment.
I think it's nice to occasionally have some posts sprinkled in which do not only deal with forexforexforex; many of us breathe and live forex, so a video (or a fight) from time to time provide welcome and relaxing diversion.

And...
Just one big happy familly we are, fights and all.
Fuck Forex Factory.Wake up people.
  • #1,493
  • Dec 10, 2012 2:59pm Dec 10, 2012 2:59pm
Quoting ramy3
Just one big happy familly we are, fights and all.
get a room guys...
  • #1,494
  • Dec 10, 2012 3:01pm Dec 10, 2012 3:01pm
Quoting dancingphil
get a room guys...
Too expensive...
Fuck Forex Factory.Wake up people.
  • #1,495
  • Dec 10, 2012 5:51pm Dec 10, 2012 5:51pm
Quoting thekillerpt
i've actually opened a pepperstone account but didn't found it yet,
only thing i've noticed so far is that when I try to backtest it seems it's missing data from 2012 even knowning that It should be downloading it from metaquotes (I guess)
Hey,

MetaQuotes historical data isn't that great either, it has gaps in the odd pair over the last few years that shouldn't be in place.

In general, if you're testing a strategy that trades infrequently (like once or twice a day, and isn't trying to scalp for just a few pips) then MQ's data should be good enough. However, if you want to test out shorter timeframe trading and scalping ideas (gunning for just a few pips and multiple times a day) then you need to ditch MetaQuotes history data entirely and go for tick level data found elsewhere.

Also, keep in mind that MT4 generates fake ticks when you use MetaQuotes or non-tick level data. It takes the 1M historical record, and using some equation that considers the tick volume number of that bar, generates random up and down ticks that map out the open, high, low, and close of the bar. So it's simulated pretty well, but not really what happened at the time in the market, which is why I say it's not good for people testing out scalping strategies.
FXGears.com
  • #1,496
  • Dec 10, 2012 5:57pm Dec 10, 2012 5:57pm
Quoting Magrami
Im thinking about change broker now im trading with Admiral Market but spread there are huge especially that i prefers trading on 15m tf and taking a profit 15-25 pips. With 900 dollars on account its worth ?
Not even going to compare Admiral to Pepper, but if you save even half a pip in spread going from Admiral to another broker, multiply that by about 40 trades, and you pretty much have saved the equal of a winning trade on your strategy.

Of course this depends on a few factors, like how you adjust your strategy to account for the different spread conditions (ie, moving your TP and SL out by the difference to make sure you're still capturing the full potential range..) But you get the basic idea.
FXGears.com
  • #1,497
  • Dec 10, 2012 6:01pm Dec 10, 2012 6:01pm
Quoting dancingphil
Best way to prove your words is to use this Indy

it sits on your chart and gives your spread result as NOW/Min/Max/Average pips.

The indy keeps a live tally, and resets - so watch out for connection interrupts.

I trade Pepperstone Razor. That means 0.75 pips commission; plus 0.1 - 0.5 pips spread - max for me is about 1.25 pips per trade, and often less than that.
Pepper even put a spread indicator in their downloads section when they wanted to show off Razor:

(go to the very bottom of the page)

https://pepperstone.com/clients/downloads.php

I don't think it shows anything more than just the current spread though...
FXGears.com
  • #1,498
  • Dec 10, 2012 8:38pm Dec 10, 2012 8:38pm
Quoting dancingphil
I trade Pepperstone Razor. That means 0.75 pips commission; plus 0.1 - 0.5 pips spread - max for me is about 1.25 pips per trade, and often less than that.
As an Aussie I find the non negotiable $A7.00 commission a bit steep, especially compared to futures. Of course Spot has benefits of liquidity and greater management control over lot sizing.
IC markets have a lower commission rate advertised ( $A50.00 per mio ). I don't use IC so can't comment.

Commish is just a cost of business. I'm not greatly concerned as long as service justifies that cost.
  • #1,499
  • Dec 10, 2012 8:46pm Dec 10, 2012 8:46pm
Quoting dancingphil
get a room guys...
Ok. We're in the penthouse suite if you wish to join. Knock three times and recite all Fibonacci levels for entry.

PS: I'll be wearing the Gimp suit
  • #1,500
  • Dec 10, 2012 8:53pm Dec 10, 2012 8:53pm
Quoting Alpha-Bet
As an Aussie I find the non negotiable $A7.00 commission a bit steep, especially compared to futures. Of course Spot has benefits of liquidity and greater management control over lot sizing.
Just to consider: In futures, while you can hunt around and find decent brokers that offer $4-5 RLT commissions on currency futures, the spreads are stuck getting no tighter than about a pip since that's the smallest tick size. Worse yet, during the asian session even liquid futures like the 6E can have moments with 2 tick (pip) wide spreads. So with a hard floor of 1 pip, this puts the total cost a bit more expensive than trading spot with a broker like Pepper (with 1 pip spreads as the example, you're looking at ~1.45 total cost in pips RLT.) 6E vs EURUSD is just one example, but the differences starts to get much worse when you compare some of the other majors, like AUDUSD and NZDUSD.

This is, of course, if you only want to gain directional exposure to an underlying currency.

If you want to employ other strategies, like trying to take advantage of interest rate differences, then you gotta start spreading contracts and that adds considerably to your total cost (both in additional spreads and commissions paid to put on the position.) Plus, many crosses and most exotic pairs aren't that popular on the currency futures side so their spreads are usually quite wide and have little to no activity.

In any case, just saying it's not quite an apples-to-apples type comparison if you only look at commissions alone.

---

Edit, just to be clear, not defending Pepper's commission rates with this, just comparing from your example. I'd obviously love to see lower commissions myself.. who wouldn't? lol
FXGears.com
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