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Broker is real regulated SCAM!

  • #83
  • Dec 23, 2016 8:58pm Dec 23, 2016 8:58pm
Trader was seriously over leveraged and in my estimation, definitely was not entitled to the compensation he recieved. Threads like this are one reason I left FF behind (save one post about a technical question) for a good 4 years.

I've been with Pepperstone since shortly after they opened. Excellent broker if you're not trying to game the market somehow. People get themselves into some pretty tight spots by gambling as this trader has, and all too often they blame it on brokers.
  • #85
  • Dec 24, 2016 2:41am Dec 24, 2016 2:41am
I just remember ...
Inserted Video
  • #87
  • Dec 24, 2016 3:19pm Dec 24, 2016 3:19pm
Some people don't want to understand, so I have to write here again.
I am not asking you that pepperstone is great or not, I am sharing my bad experience with them.
And it is real issue that appoved by FCA/ASIC and pepperstone(so they offer compensation)
If you are only clients of pepperstone, you can continue great experience with them. Have a great profit.
If you are not only clients of pepperstone, you are right to request closing this thread. Because it will damage your business with pepperstone, but it is not first and last thread about pepperstone's scam activities. You can find a lot of bad reviews about them.
Some people are interesting and checking this thread more than me. And they are also recommending pepperstone in other threads, they have websites with pepperstone aff banner, they are from australia etc.

Please be objective, Forex Factory should ban users who are promoting companies like here. Because they are not objective.
  • #91
  • Dec 25, 2016 1:59am Dec 25, 2016 1:59am
Of course if someone thinks your trades were stupid or not is entirely irrelevant. You can have a gamble, you're a big boy and it's your money.
But I think you intentionally underfunded the account, limiting your downside risk with the intention of never repaying any negative account balance should the "punt" go bad.

Why didn't you use a broker with negative account balance protection?
  • #92
  • Dec 26, 2016 10:34am Dec 26, 2016 10:34am
FPA is filled with stories about Pepperstone removing profitable trades claiming that client is benefiting from price feed difference. Any honest ECN/STP broker would not make such a claim. This claim holds no ground if broker is actually sending order to liquidity provider. Pepperstone pretends to be an ECN broker, while its just a bucket shop.
  • #94
  • Dec 27, 2016 4:22am Dec 27, 2016 4:22am
Quoting Nabz
FPA is filled with stories about Pepperstone removing profitable trades claiming that client is benefiting from price feed difference. Any honest ECN/STP broker would not make such a claim. This claim holds no ground if broker is actually sending order to liquidity provider. Pepperstone pretends to be an ECN broker, while its just a bucket shop.
I have seen some of these but in 99% of cases it boils down to ignorant trading. Amongst other things but mostly having over leveraged positions held over the weekend. In this case he was very low on margin and even the spread widening on open could of sent his account into arrears.

Brokers are not a charity they are a business.
20 Pips a day keeps centerlink away
  • #95
  • Dec 27, 2016 11:51am Dec 27, 2016 11:51am
Quoting PaulDaemon
{quote} I have seen some of these but in 99% of cases it boils down to ignorant trading. Amongst other things but mostly having over leveraged positions held over the weekend. In this case he was very low on margin and even the spread widening on open could of sent his account into arrears. Brokers are not a charity they are a business.
Are you sure you read %99 of cases?? You can see different scam tactics in pepperstone reviews that all of scam firms are using.
There are a lot of clients like me, you or your friends or other pepperstone's affiliates or pepperstone's employees are not able to change it by writing my thread.
My trading style, using high leverage or different trading strategies are not important here. There is no arbitrage, off quote trading etc. which are forbidden in agreement.
I can use leverage low or high, it is my choice. They can reduce leverage, if they don't want clients to use. If there is abnormal market conditions because of Italy referendum, they can change IT40 product to close only mode. No one can't close my positions except stopout situation.
You are not objective while you earn money as pepperstone's affiliate.
So please go ahead, you can't clean pepperstone's bad history.
  • #96
  • Dec 27, 2016 12:11pm Dec 27, 2016 12:11pm
I overlooked this thread and found out to my surprise many traders bashing on the thread starter.
Traders, keep in mind we are (well most of us) retail traders. Any activity stealing from our pockets should be reported.
This is about the only way to defend us. The trading methodology is not the point here. Everyone has the right to trade as they wish.

If they lose, they lose. Maybe profit.erol is a gambler. Well, then let him be. But this does not give any broker the right to steal from him.
Infact, brokers like gamblers.
Never stop to learn
  • #97
  • Edited 7:52pm Dec 27, 2016 6:04pm | Edited 7:52pm
Quoting profit.erol
{quote} Are you sure you read %99 of cases?? You can see different scam tactics in pepperstone reviews that all of scam firms are using. There are a lot of clients like me, you or your friends or other pepperstone's affiliates or pepperstone's employees are not able to change it by writing my thread. My trading style, using high leverage or different trading strategies are not important here. There is no arbitrage, off quote trading etc. which are forbidden in agreement. I can use leverage low or high, it is my choice. They can reduce leverage,...
I think you still dont understand? i know its hard but I will try again. You were over leveraged you had roughly 200/300$ of equity left. As far as i know pepperstone sent out emails and said they will be reducing leverage on this par for the referendum period they said to make sure your account is properly funded. So what actually happens the computer system automatically stopped you out because you had no more margin left when the leverage got reduced.

Most novice traders do not understand margin trading and leverage please educate yourself before trading again. If you were with a real scam broker and price went against you, you will be sent bankrupt, loose your house and everything you worked for. Its happened before and it will happen again. I understand that you are from Turkey and English is not your 1st language. Maybe its better to run with a broker that is Turkish based.
20 Pips a day keeps centerlink away
  • #98
  • Dec 28, 2016 1:26am Dec 28, 2016 1:26am
Quoting whatsmyname
i overlooked this thread and found out to my surprise many traders bashing on the thread starter. Traders, keep in mind we are (well most of us) retail traders. Any activity stealing from our pockets should be reported. This is about the only way to defend us. The trading methodology is not the point here. Everyone has the right to trade as they wish. If they lose, they lose. Maybe profit.erol is a gambler. Well, then let him be. But this does not give any broker the right to steal from him. Infact, brokers like gamblers.
he was underfunded and claims they took his money we traders can see what he did .......no stealing his money ----- account under funded >>>>>>>he can trade how he wishs but when it goes wrong for him he blamed a broker
people leave, but this thread will go on for ever
  • #99
  • Dec 28, 2016 1:38am Dec 28, 2016 1:38am
pepperstone is currently the best broker out there, the most honest and reliable... however if i was in OP's shoes i would have probably acted the same way, so i cant judge him nor can i say anything bad, OP take the money they offered and carry on with life.
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #100
  • Edited 2:31am Dec 28, 2016 2:01am | Edited 2:31am
OP keeps referencing bad broker reviews on FPA. Firstly, every broker has bad reviews from bad traders on FPA. Secondly, there has never been a single Trader's Court case on FPA against Pepperstone. Not a single one.

If OP gives such weight to the FPA site, maybe he should instigate a case in trader's court. Pepperstone is very responsive on the FPA site. I'm sure they'd reply to a case being opened and the community could vote on the merits of your case.
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