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  • #1
  • First Post: Apr 10, 2015 12:43pm Apr 10, 2015 12:43pm
There are a couple of threads here on Pepperstone but it looks like they died out.

I am thinking about opening an account with them. I looked at many others and came to a conclusion that they will work for me.

Anybody has more than 10,000 USD account with them? For how long and are you happy?
  • #2
  • Apr 10, 2015 1:41pm Apr 10, 2015 1:41pm
There is a thread in the commerical forum that is quite active.
  • #3
  • Apr 10, 2015 1:47pm Apr 10, 2015 1:47pm
Well, if you mean Pepperstone Forex thread then I posted my questions there but there is no answer so far. Also, the last pages that I checked mostly consist of insulting each other with no discussion about Pepperstone itself. And I believe that older posts, say a year ago are not relevant any more.

Is there another thread that I've missed?
  • #4
  • Apr 10, 2015 1:56pm Apr 10, 2015 1:56pm
Its just the usual. Expensive commission, MT4 + some third party Integral bridge + alot of marketing.
  • #5
  • Apr 10, 2015 2:21pm Apr 10, 2015 2:21pm
I have got into the habit recently of reading the Product Disclosure Statements of FX Brokers thanks to FF member Forexia. Two quick points that caught my eye:

8.1
A CFD is an agreement between yourself and the provider (Pepperstone Group Limited) to exchange the difference in value from when the contract is opened to when it is closed.
15.4
Pepperstone maintains strict management over its counterparty risk and use of hedging. Hedging is the practise of off setting counterparty risk. To hedge risk Pepperstone enters into back to back hedges with Prime Brokerage(s). To make these hedges Pepperstone holds margin with prime brokerage.

Does this not basically mean you are just trading with a MM who makes out they are a ECN broker? I couldn't care less if I am trading with a MM but it does seem bullshit if they list all their liquidity providers and noobs like me then think that we are trading with banks and Prime Brokers. All these Aussie brokers are the same if you read their product disclosure's.
  • #6
  • Apr 10, 2015 2:28pm Apr 10, 2015 2:28pm
Their trading volume also looks rubbish for a broker that claims to be a leading ECN broker even though its Friday afternoon.


Attached Image (click to enlarge)
Click to Enlarge Name: VolumeApril.png Size: 34 KB
  • #7
  • Apr 10, 2015 2:40pm Apr 10, 2015 2:40pm
Thanks Mitch. Their spread is something that I can deal with and I don't care are they ECN or not. Actually the way I trade I cannot trade with ECN.

I also looked through the other 2 threads so I read all about doubting their whole business model, their CEO etc. I did not make any opinion because of all of those discussions, to be honest, to me it is just an angry noise. It is one of the reasons why I started a new thread. Well, show me a broker which was never blamed in all possible sins by someone...

I just wanted here some feedback from people who trade 10-50 K with them if such people exist kind of get a feel for what they experience.

To me it is a very different trading compared with when you play with 500 or 5k account.
  • #8
  • Apr 10, 2015 2:46pm Apr 10, 2015 2:46pm
Very true. You may also want to look at Global Prime who seem to have very good reviews on FPA if that is something to go by.

All the best with your trading.
  • #9
  • Apr 10, 2015 4:30pm Apr 10, 2015 4:30pm
I will look at them, thanks.

It looks like they are doing something different with client's money then other Australian brokers, I don't really understand what and how it would work in case of their insolvency. It it for better or for worse? I am not good with legal lingo. Is it more reliable compared to other Australians?

I may need Forexia's help here too.

I will actually ask them on another forum.
  • #10
  • Apr 11, 2015 7:16am Apr 11, 2015 7:16am
I used to trade a 30K account with Pepperstone, all went very well, only good experiences.
Withdrawals where fast, always.
This was let's say over 18 months ago, then i went to Dukascopy.
Now i am thinking of going back to Pepperstone for their cTrader platform.
  • #11
  • Edited 8:16am Apr 11, 2015 7:29am | Edited 8:16am
Thanks. I am also considering Dukas mainly for their Swiss protection. What you did not like about them?

I am still talking to their support and what I found strange that they actually are increasing margin requirements over the weekend. The increase is 3 times so I will be in danger of a margin call as I can have many trades open at the same time. So far I do not have a clear picture as how it works and I think they don't have it either.

Did you use any introducing broker with Pepperstone?
  • #12
  • Apr 11, 2015 4:31pm Apr 11, 2015 4:31pm
Quoting aa1
I will look at them, thanks. It looks like they are doing something different with client's money then other Australian brokers, I don't really understand what and how it would work in case of their insolvency. It it for better or for worse? I am not good with legal lingo. Is it more reliable compared to other Australians? I may need Forexia's help here too. I will actually ask them on another forum.
Quoting mitch77
I have got into the habit recently of reading the Product Disclosure Statements of FX Brokers thanks to FF member Forexia. Two quick points that caught my eye: 8.1 A CFD is an agreement between yourself and the provider (Pepperstone Group Limited) to exchange the difference in value from when the contract is opened to when it is closed. 15.4 Pepperstone maintains strict management over its counterparty risk and use of hedging. Hedging is the practise of off setting counterparty risk. To hedge risk Pepperstone enters into back to back hedges with...
Just like what I said before:

Quoting Forexia
{quote} Global Prime is just another low balance, high leverage, STP/DMA but actually MM broker from Australia, in the same works as Pepperstone, IC Markets and etc. Same cost structure, same business model and offering same products basically without cTrader. No experience with them though.
With CFD's, regardless whether you trade them on cTrader or MT4, you are ALWAYS trading DIRECTLY AGAINST the broker who are acting as MM because these CFD's are issued by those brokers themselves and do not exist anywhere else so there is no other liquidity providers that the broker could possibly pass the trade to UNLESS the broker specifies that the CFD is a one that is traded on the Australian exchange ASIX. There IS a broker that offers trading on CFD's listed on the ASIX, the Australian exchange. I can't remember which broker. And this is the same no matter which Australian broker you go to, whether it's Global Prime, or FXOpen or IC Markets or Pepperstone or whoever. When it comes to CFD's, they are ALL acting as MM's taking the opposite side of your transaction UNLESS the CFD is a one that's traded on the Australian exchange.

For Forex, if you trade on cTrader, you MAY have a chance of having your trade being filled by a liquidity provider which is the ultimate market maker LOL as cTrader does NOT allow any plug-in's that permits any dealer intervention or manipulation of prices but the trade can still be filled by the broker itself without ever being transmitted to the "market" even in cTrader.

So all in all, like I said before:

Quoting Forexia
{quote} I will tell you any time when you see a broker is anything the following, it's 99.99999999999% a MM broker but posing as STP/DMA/Agency Model/ECN broker: Starting balance in the hundreds: $400, $200 Super-high leverage: 400 to 500:1 Offers MT4 even as ECN
NOW having said that, some brokers in Australia such as IC Markets and I believe Pepperstone DO offer the what is called Prime of Prime, PoP brokerage where you WILL be trading more on the interbank market on a purer ECN (like Interactive Brokers), BUT you have to deposit at least $10K USD or equivalent same as Interactive Brokers. The question is do you trust them enough to deposit that much money when they DO have a financial compensation scheme but does NOT have guaranteed amount like the CIPF in Canada, SIPF in US and FSCS in the UK?
Make your losses in demo. Earn your profits live.
  • #13
  • Apr 15, 2015 4:41pm Apr 15, 2015 4:41pm
I traded 5k with them and on the execution side I had no problems at all(exept few,few freezings).The only issue that eventually made me change firm is that they charge 3% on every deposit not in AUD(which are charged 1.8%), trading EUR this means a starting "tax" of 150 Eur on my first deposit, that's kinda exessive for the service they provide.
  • #14
  • Apr 16, 2015 2:31pm Apr 16, 2015 2:31pm
Thanks for the post. After reading it I contacted their support again and they said that yes, they do charge for credit card deposits from some countries but Canada is not one of them so I am good (I am Canadian). If you deposit a wire in USD on your USD account they won't charge you anything no matter where you are. It would be very strange if they did.
  • #15
  • Apr 16, 2015 2:40pm Apr 16, 2015 2:40pm
Quoting aa1
Thanks for the post. After reading it I contacted their support again and they said that yes, they do charge for credit card deposits from some countries but Canada is not one of them so I am good (I am Canadian). If you deposit a wire in USD on your USD account they won't charge you anything no matter where you are. It would be very strange if they did.
Make sure to get their cTrader ECN account. Much better execution and less manipulations. Try this Introducing Broker if you are still looking for one:
http://www.hftgroupfx.com/ You can find lots of introducing brokers for Pepperstone.

I personally do NOT have any experience with them.

Good luck and good trading!
Make your losses in demo. Earn your profits live.
  • #16
  • Apr 16, 2015 5:39pm Apr 16, 2015 5:39pm
Quoting Forexia
{quote} {quote} Just like what I said before: {quote} With CFD's, regardless whether you trade them on cTrader or MT4, you are ALWAYS trading DIRECTLY AGAINST the broker who are acting as MM because these CFD's are issued by those brokers themselves and do not exist anywhere else so there is no other liquidity providers that the broker could possibly pass the trade to UNLESS the broker specifies that the CFD is a one that is traded on the Australian exchange ASIX. There IS a broker that offers trading on CFD's listed on the ASIX, the Australian...
"NOW having said that, some brokers in Australia such as IC Markets and I believe Pepperstone DO offer the what is called Prime of Prime, PoP brokerage where you WILL be trading more on the interbank market on a purer ECN (like Interactive Brokers), BUT you have to deposit at least $10K USD or equivalent same as Interactive Brokers."

To offer Prime of Prime you need a prime broker.
Who is IC Markets and Pepperstone's prime broker ?
  • #17
  • Apr 16, 2015 9:11pm Apr 16, 2015 9:11pm
Quoting lasty
{quote} "NOW having said that, some brokers in Australia such as IC Markets and I believe Pepperstone DO offer the what is called Prime of Prime, PoP brokerage where you WILL be trading more on the interbank market on a purer ECN (like Interactive Brokers), BUT you have to deposit at least $10K USD or equivalent same as Interactive Brokers." To offer Prime of Prime you need a prime broker. Who is IC Markets and Pepperstone's prime broker ?
I contacted Pepperstone about this, this is not true.
Pepperstone does offer an active trader solution, which will get you cheaper commission and other advantages, i do not know them all so if you are interested you should contact Pepperstone.
I am trading with them now, i had traded with them before (MT4), now using the cTrader platform and i really like it so far!
  • #18
  • Apr 16, 2015 10:06pm Apr 16, 2015 10:06pm
global prime
Attached Image
  • #19
  • Apr 16, 2015 10:57pm Apr 16, 2015 10:57pm
Quoting Dkam
{quote} I contacted Pepperstone about this, this is not true. Pepperstone does offer an active trader solution, which will get you cheaper commission and other advantages, i do not know them all so if you are interested you should contact Pepperstone. I am trading with them now, i had traded with them before (MT4), now using the cTrader platform and i really like it so far!
Whats not true ? Did you ask them what prime broker they use ?
An active trader solution is what exactly ?
  • #20
  • Apr 17, 2015 7:23am Apr 17, 2015 7:23am
Quoting lasty
{quote} Whats not true ? Did you ask them what prime broker they use ? An active trader solution is what exactly ?
I asked if they offer some kind of PoP solution.
An active trader solution says it all, it is for active or larger traders ..
I do not work for Pepperstone so i do not exactly know all the advantages of being an active trader instead of a normal RAZOR account.
This is whats on their website:

Available Services

  1. Dedicated Relationship Manager: A dedicated manager will work with you and our network to analyse your needs and offer a tailored solution to achieve your goals.
  2. Segregated Customer Account: Take advantage of our established relationship with Australian banks to setup a segregated tripartite account.
  3. Advanced Reporting: Extensive reporting such as volume tracking, end of day P/L and daily equity snapshots.
  4. VPS Hosting Services: Hosting solutions to run automated strategies and take advantage of our low latency EDGE infrastructure.
  5. Custom Solution: Multiple means of trading; including API, FX GUI and leading third party platform providers.
  6. Proprietary SSI data: Includes aggregated anonymised trading data from Pepperstone servers exclusive only to Active/Institutional clients.

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