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Pepperstone Forex

  • #2,361
  • Sep 14, 2013 12:33pm Sep 14, 2013 12:33pm
Quoting Primi
http://forexmagnates.com/exclusive-p...aunch-ctrader/ "The launch is expected to take place in the next several weeks"
For everyone who keeps asking in this thread, the link above is the best answer I can find. Even my contacts at Pepper are tight lipped about exact launch dates. They seem to care more about getting it done right vs rushing out something before it's fully ready. Thanks for sharing Primi

From what I understand, they are bringing in their own LP relationships to cTrader's platform, not just using the existing LPs that cTrader has, so the integration process is going to take longer to get all the depth of market and liquidity feeds up and running.

What's interesting about the article is how large of a partner Pepper will be for Spotware. This is going to raise Spotware's profile as much as it does Pepper's for providing the alternative platform.

--

Good things are worth waiting for...
FXGears.com
  • #2,362
  • Sep 16, 2013 4:10am Sep 16, 2013 4:10am
I've started with them, but also Alpari and LMAX are great.
  • #2,363
  • Sep 17, 2013 4:29am Sep 17, 2013 4:29am
i'm getting "trade context is busy," and "can not connect to server" errors since yesterday.i trade manually.it happens when i try to close a trade or when i try to set tp/sl for open positions.
  • #2,364
  • Sep 17, 2013 11:20pm Sep 17, 2013 11:20pm
Quoting roccoj
I hate them, too many IBs and employee's spruking them online. Smells like my fishing bucket after a good days catch. I guess that's why the mods moved them to the commercial section. Things smelt a bit fishy for them also.
I'm all for sticking the foot into brokers for the issues but having three posts, 2 which defend a broker (IC markets) and one which makes a generalised negative statement about another broker really takes away any credibility you have. By you fishing logic Pepperstone, IC Markets, Admiral market australia, FinFX, global prime etc all must be a bit fishy. I'm sure you next post praising a broker will out which broker you work with.
  • #2,365
  • Sep 18, 2013 12:17pm Sep 18, 2013 12:17pm
Quoting balefx
{quote} I'm all for sticking the foot into brokers for the issues but having three posts, 2 which defend a broker (IC markets) and one which makes a generalised negative statement about another broker really takes away any credibility you have. By you fishing logic Pepperstone, IC Markets, Admiral market australia, FinFX, global prime etc all must be a bit fishy. I'm sure you next post praising a broker will out which broker you work with.

You beat me to it.
FF journal: Peaks and Troffs
  • #2,366
  • Sep 18, 2013 5:10pm Sep 18, 2013 5:10pm
lol.. yeah the irony is over the top. The very broker he defends was moved to the commercial section a while ago.
FXGears.com
  • #2,367
  • Sep 24, 2013 12:07am Sep 24, 2013 12:07am
Hey guys,

Someone a few pages go mentioed big slippage appearing in his account. I can testify that after 1+ month with pepperstone live I've been hit too. And it was huge 16 pips on EURGBP on my stop loss on 19.09. Am chatting with the support but until now they are unable to tell me what was it exactly, slippage or spread widening.

I checked a bit some max spread brokers on brokers on GBPUSD on fixintel, was unable to check EURGBP for some reason. Anyway pepper support said on 19.09 there was some GBP news. Really nothing earth shattering on 19 from fxintel.

So my general feeling is that pepper is getting greedier, just like any other retail broker. The same lame excuse with the iq. providers. As it looks now my live account won't survive much on pepper, am starting to search for alternatives. Beware guys, they aren't as good as many people testify.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #2,368
  • Sep 24, 2013 12:22am Sep 24, 2013 12:22am
Quoting soso
Hey guys, Someone a few pages go mentioed big slippage appearing in his account. I can testify that after 1+ month with pepperstone live I've been hit too. And it was huge 16 pips on EURGBP on my stop loss on 19.09. Am chatting with the support but until now they are unable to tell me what was it exactly, slippage or spread widening. ....
It's so strange.
I have traded with Pepper for 1 year and I didn't see anything is wrong or bad.
Sometime MT4 Pepper is maybe freeze or lag. It can relate your ISP problem.

At this time, I feel Pepper is ok.
Keep learning until you die :-)
  • #2,369
  • Sep 24, 2013 1:07am Sep 24, 2013 1:07am
Quoting soso
Hey guys, Someone a few pages go mentioed big slippage appearing in his account. I can testify that after 1+ month with pepperstone live I've been hit too. And it was huge 16 pips on EURGBP on my stop loss on 19.09. Am chatting with the support but until now they are unable to tell me what was it exactly, slippage or spread widening. I checked a bit some max spread brokers on brokers on GBPUSD on fixintel, was unable to check EURGBP for some reason. Anyway pepper support said on 19.09 there was some GBP news. Really nothing earth shattering on 19...
i've seen 20pip wide spread on GBPUSD.30pip on EURAUD both around high impact news time.their system slips all orders by 0.5-1 pips under normal circumstances but when the market is moving fast, 10-15 pip slippage is very common.
  • #2,370
  • Sep 24, 2013 1:27am Sep 24, 2013 1:27am
Quoting 200km
{quote} i've seen 20pip wide spread on GBPUSD.30pip on EURAUD both around high impact news time.their system slips all orders by 0.5-1 pips under normal circumstances but when the market is moving fast, 10-15 pip slippage is very common.
Ok, this sucks man. Spread widening + 10 pip slippage => worse than oanda. And it was the reason I left oanda.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #2,371
  • Sep 24, 2013 2:56pm Sep 24, 2013 2:56pm
Quoting soso
{quote} Ok, this sucks man. Spread widening + 10 pip slippage => worse than oanda. And it was the reason I left oanda.

never experienced oanda but from what i'v heard, their spread is wider but have less slippage (during news) compared to pepper.
you have to understand that no LEGIT broker can guarantee you that your order will be filled exactly at the price you want to, they'll fill you at the nearest price possible, even EBS, barclay's, ..... have slippage, partial fills , ..... sometimes
especially during the news on minor pairs like EURGBP,
low volume + high volatility = shit happens !
i lose money for a living
  • #2,372
  • Sep 24, 2013 11:40pm Sep 24, 2013 11:40pm
Quoting tylerbose
{quote} never experienced oanda but from what i'v heard, their spread is wider but have less slippage (during news) compared to pepper. you have to understand that no LEGIT broker can guarantee you that your order will be filled exactly at the price you want to, they'll fill you at the nearest price possible, even EBS, barclay's, ..... have slippage, partial fills , ..... sometimes especially during the news on minor pairs like EURGBP, low volume + high volatility = shit happens !
Of course I understand, but do you find this acceptable? From pepperstone this morning:

your requested SL was triggered at the level 0.84132, however within the same second the market had moved to 0.84290 on EURGBP. This meant that your trade was filled at the next best available price at the time of 0.84290 - a total of 15.8 pips away from your originally requested SL price. The spread at this time was slightly higher than average - 8.5 pips due to the uncertainty associated with the news release.


That's a 15.8 pips on a pair that has the average daily range around of ~40 pips. And it even wasn't a MAJOR news release imo. I'm sorry but if you find it reasonable fine, good luck with this broker. I'd rather go with a market maker instead.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #2,373
  • Sep 25, 2013 8:04am Sep 25, 2013 8:04am
Quoting soso
{quote} Of course I understand, but do you find this acceptable? From pepperstone this morning: your requested SL was triggered at the level 0.84132, however within the same second the market had moved to 0.84290 on EURGBP. This meant that your trade was filled at the next best available price at the time of 0.84290 - a total of 15.8 pips away from your originally requested SL price. The spread at this time was slightly higher than average - 8.5 pips due to the uncertainty associated with the news release. That's a 15.8 pips on a pair that has the...

pepper is known for its poor liquidity sometimes, prices jumped over my orders fews times, price gaps during some news , if you read this forum you will see that i complain about that allot !
however i don't think that they are manipulating the price, they won't stop hunt you nor deny your profits no matter how big they are.

as far as i'm concerned pepper isn't perfect but is still one of the rare legit brokers out there. and the best choice for my price range (300$ ) if i had more cash (+25K) i would certainly move to Vcap or baxterFX in a heartbeat.

it depends on how much money you have to invest, if you're looking for deep liquidity and have less than 5k to invest you can go with fxcm ,dukascopy, oanda, alpari uk, i can't guarantee that they are legit but they have (show) the biggest liquidity for that price range.

if you have more to invest, go with the big boys: vcap, baxterfx, marex spectron
and if you really have allot to invest go directly where the liquidity is: EBS, hotspot, or ask your bank and deal directly with them !

i hope you find the broker that suits you
i lose money for a living
  • #2,374
  • Sep 25, 2013 1:59pm Sep 25, 2013 1:59pm
Quoting soso
Of course I understand, but do you find this acceptable? From pepperstone this morning:
your requested SL was triggered at the level 0.84132, however within the same second the market had moved to 0.84290 on EURGBP. This meant that your trade was filled at the next best available price at the time of 0.84290 - a total of 15.8 pips away from your originally requested SL price. The spread at this time was slightly higher than average - 8.5 pips due to the uncertainty associated with the news release.
That's a 15.8 pips on a pair that has the...
I'm sorry but this is not a major move to you? It may not have been a major news release but the move looks major enough to me. It's a 40 pip M5 bar and I'm sure M1 bar is just the same. Price gapped. It happens at times like that. Even a market maker would probably slip you because they don't all guarantee your SL execution at specified price. And if they do they make up for it by charging you more in terms of trading costs.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.PNG Size: 39 KB
  • #2,375
  • Sep 26, 2013 12:52am Sep 26, 2013 12:52am
Quoting Primi
{quote} I'm sorry but this is not a major move to you? It may not have been a major news release but the move looks major enough to me. It's a 40 pip M5 bar and I'm sure M1 bar is just the same. Price gapped. It happens at times like that. Even a market maker would probably slip you because they don't all guarantee your SL execution at specified price. And if they do they make up for it by charging you more in terms of trading costs. {image}
I wonder what slippage would have been if there was a GBP interest rate news, or NFP. I'm not talking about guaranteed SL here, I'm talking about a HUGE slippage.

You guys keep talking about how cool this broker is, how cool that pepper is ECN and all they are doing are aggregating multiple liquidity providers to offer you the best price. But when you ask them to prove that that is indeed the data they received they can't, because it's secret, they have an agreement. Truth is they can easily skew the data in their favor and you woudn't even know. Exactly like a MM.

It's not bashing, it's the reality. I'm posting it so other people who read this thread are warned in advance that things aren't as rosy as they appear.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #2,376
  • Sep 26, 2013 6:14am Sep 26, 2013 6:14am
Quoting soso
{quote} I wonder what slippage would have been if there was a GBP interest rate news, or NFP. I'm not talking about guaranteed SL here, I'm talking about a HUGE slippage. You guys keep talking about how cool this broker is, how cool that pepper is ECN and all they are doing are aggregating multiple liquidity providers to offer you the best price. But when you ask them to prove that that is indeed the data they received they can't, because it's secret, they have an agreement. Truth is they can easily skew the data in their favor and you woudn't even...

But it doesn't really matter if it's some minor news or major news. What matters is the move that was the result of the news. This move was obviously strong for some reason and it wasn't just at pepperstone that price gapped. NFP or interest rate doesn't by default mean a gap and a 100 pip move. Just like other less important news events doesn't mean price will just do nothing and it's OK to trade through.
  • #2,377
  • Edited 3:06pm Sep 26, 2013 11:51am | Edited 3:06pm
Not for nothing, but when soso first brought this up I checked the historical spreads between Pepper and Oanda, and while Pepper did have a spike to ~8.5 pips for the first tick or two of the news release (expected since it's a news release after all and LPs pull their liquidity) when compared to Oanda they performed much better. Oanda's spread widened to ~10 pips (as I saw on myFXBook's spread tool), and it stayed spiking between 4-6+ pips high for AN HOUR after the release, in contrast to Pepper which had their spreads back to near normal rates a few minutes after the initial spike.

http://i.imgur.com/D8A8uOm.png
(Oanda only shows max 7.5 pip spread on that specific release, but I trust MyFXBook's spread tool saying 10, since even that aligns with Oanda's default news spread of 10 pips on other pairs and matches the 10 pip spread they recorded twice earlier that same day as seen in this graph.)

Now, I'm not here to dump on Oanda, I actually like them a lot and use them as one of my primary brokers ( ...just not for news trading.) So I'm just trying illustrating a point since Oanda was used earlier in comparison.

As for the slippage. Primi has already covered this off very well, and others have mentioned it too.. I have to agree with them. Any DMA broker can't fill your order at the intended price if the market gaped through it.. they can only get the next best price available in the market. Unfortunately you got stung by a news release, but it will be the same with any broker.. if the broker themselves can't cover your position in the open market without being slipped, they can't fill you at a better price and just be caught holding the bag if the market moved further.
FXGears.com
  • #2,378
  • Sep 26, 2013 2:22pm Sep 26, 2013 2:22pm
Exactly, a stop can and will get raped during a news release even on a regulated exchange. I'm afraid you will have to deal with it.

Aside from that, in OTC fx, i would advise to treat what ever quotes you see displayed during extremly volatile periods as strictly indicative. Fills that come back from mkt-orders maybe vastly different.

That means, dont be a sucker and send a marketorder under such conditions - use (marketable) limit orders. That way you can define what slippage you will accept. DOM-ladder style oder entry tools help with that a lot, you can send such an order with a single click. I have stopped using market orders all together a long time ago. There is really no good reason to use them at all when you can use a marketable IOC limit instead. I get filled 99% of the time with limits 0.5 pips outside the inside market.

I do use protective stop-loss orders tho, which pose the same risks as market orders, but i try to avoid it as much as i can, which is most of the time, since i basically stare at the screen all day.
  • #2,379
  • Sep 26, 2013 5:24pm Sep 26, 2013 5:24pm
Quoting shrike
Exactly, a stop can and will get raped during a news release even on a regulated exchange. I'm afraid you will have to deal with it. Aside from that, in OTC fx, i would advise to treat what ever quotes you see displayed during extremly volatile periods as strictly indicative. Fills that come back from mkt-orders maybe vastly different. That means, dont be a sucker and send a marketorder under such conditions - use (marketable) limit orders. That way you can define what slippage you will accept. DOM-ladder style oder entry tools help with that a...
Shrike, its because there are still stupid traders out there that think they can put an OCO or a pending order on before a news event and the FX market will just give them free money after the data is released. The stupidity of some traders just continues to amaze me, the fact that there is the best economic calender out there on this website is the killer. If the market doesn't expect the figure and its mid/top tier release the market will move, if the market moves 40 pips in a few seconds people somehow expect 1 pips spreads through the move............(i'm banging my head against my keyboard.)
  • #2,380
  • Oct 2, 2013 9:24pm Oct 2, 2013 9:24pm
This is interesting:

http://www.businessinsider.com.au/au...ist-ceo-2013-9

Pepper could go the way of other larger brokers and go IPO.

I've been playing around with ASX stocks at my work and it would be interesting to see Pepper listed one day.


Edit: Looks like they made the Wall Street Journal even: http://blogs.wsj.com/moneybeat/2013/...ejecting-bids/

Apparently they've received multiple takeover offers but have rejected them all.
FXGears.com
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