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Again PEPPERSONE is cheating

Adrian Matusiak (adrian8891)
Dec 11 2013 at 20:36
696 posts
Again pepperstone has cheated .

Here's video how they taken around $110 in few seconds without any reasons (see ticks)

https://www.dropbox.com/s/3r3gzkusu515cz9/clip0031.avi

PAMM MANAGER // Professional Fund Manager
CrazyTraderfx (CrazyTrader)
Dec 12 2013 at 08:03
1718 posts
I'm with Pepperstone too and my robot is almost done also to trade news.

I have already experienced the same as you especially on GBPNZD

I have notice with them that at news event, their liquidity is so low that the spread is widdening too much.

Well this might be the same with other brokers I guess (ECN)

I was thinking about a condition that is allowing the EA to place orders the second after spread has widdened.

What do you think?
Thalantas
Dec 12 2013 at 10:15
192 posts
Dude, 0.23 lots with a 50$ account...you are looking for margin call with such aggressive style.

Even for news trading that is not reasonable. You'd better go gambling.
A smooth sea never made a skillful sailor.
Adrian Matusiak (adrian8891)
Dec 12 2013 at 14:15
696 posts
Thalantas posted:
Dude, 0.23 lots with a 50$ account...you are looking for margin call with such aggressive style.

Even for news trading that is not reasonable. You'd better go gambling.

Firstly, I'm not a 'dude' and my style is my rule. This topic has been started to show You, how Pepperstone is cheating.
PAMM MANAGER // Professional Fund Manager
CrazyTraderfx (CrazyTrader)
Dec 12 2013 at 14:34
1718 posts
They did not cheat.

Looking at ticks it's pointless.

You placed pending orders just before the news. Price started to drop, Sell triggered, but Buy stop also trigerred because they have 10 to 15 pips spread for a couple of seconds.

So Ask is > from SL for sell order... so it closed.
And same for Buy order, Bid is already < SL so it closed.

Don't watch ticks... display some data into the chart like Spread

Instead of placing pendings 3 sec before the news... do it 3 sec after it.
Adrian Matusiak (adrian8891)
Dec 13 2013 at 09:04
696 posts
3 sec after is pointless :)
PAMM MANAGER // Professional Fund Manager
CrazyTraderfx (CrazyTrader)
Dec 13 2013 at 11:42
1718 posts
So what don't you try to create your pending @ the news event in this case 11 pm and adding this to your code so you avoid the spread that srew your orders.

Ask - Bid < 3 pips.
Leigh (MrPatient)
Dec 20 2013 at 12:31
20 posts
@adrian8891

I agree with @CrazyTrader , I use Pepperstone with my 'Consistent Forex Growth Strategy' and
havn't had any issues with slippage. In fact they are the tightest MT4 broker I have ever used.

If your trading news you need to learn to deal with the slippage both slightly before and after the news event. Have you tried not trading the news perhaps? maybe something like Price Action (which is what I use) would yeild better results.

Not trolling, wish you the best of luck with your trades, whatever style they are.

Regards,

Mr Patient
Patience, above all else.
Thalantas
Dec 20 2013 at 13:01
192 posts
An other solution I've heard of would be to open both a BUY and SELL prior to the news (lets say 60second) and close the opposite direction of the news whenever it happens.
A smooth sea never made a skillful sailor.
Leigh (MrPatient)
Dec 20 2013 at 13:21
20 posts
@Thalantas

Keep in mind your paying twice the commissions then (if trading ECN) as well as double spread.

The spread will still widen as well on the one you close, even with a SL (unless its a small lot size/ your lucky).

Not saying it couldn't work, The Ideas got some merit to it.

Regards,

Price Action Trader - 2% weekly return

Mr Patient
Patience, above all else.
CrazyTraderfx (CrazyTrader)
Dec 20 2013 at 13:23
1718 posts
Unfortunately this doesn't work because whenever the market does a false breakout... you will close both in negative.

Example given this morning on GBPUSD news... Market started to rise and reversed sharply.
Thalantas
Dec 20 2013 at 13:24
192 posts
Well open both BUY & SELL with a trailing stop as close as possible starting from a few seconds before the news...this could work and insure your trade to be open.
A smooth sea never made a skillful sailor.
CrazyTraderfx (CrazyTrader)
Apr 25 2014 at 17:09
1718 posts
I really start to think that Pepperstone isn't a good broker:

https://crazytraderfx.blogspot.fr/2014/04/compare-fx-brokers.html
hermosa
May 10 2014 at 14:33
2 posts
it's not surprising me...

it has been 2 years, some peoples complaining about the pepperstone services.

check this link out :
https://www.myfxbook.com/search/pepperstone






CrazyTraderfx (CrazyTrader)
May 10 2014 at 15:17
1718 posts
Well Pepper is good broker, but it is the worst on GBPNZD when a news comes up into fx market. I have recorded until 50 pips spread for a couple of sec this week which isn't acceptable.
King's Penguin (pingvin)
May 10 2014 at 15:19
17 posts
That's why I don't trade with sl. It jumps spread for a second then returns to normal. There is however something else that bothers me with pepperstone, at news time they tend to freeze mt4, can happen for 2 minutes even, and if there is still volatility they can freeze it again for a few seconds. And it wasn't my connection as i observed fxpro chart on the same pair, fxpro was moving, pepperstone stood still.
Stay cool no matter the weather!
CrazyTraderfx (CrazyTrader)
May 10 2014 at 15:23
1718 posts
Yes I have already noticed frozen Watch Market for couple of sec for big news. => Not good!!
Alexz80
May 19 2016 at 15:05
131 posts
So pepperstone also cheating it's clients?
vontogr (togr)
May 20 2016 at 12:24
4862 posts
adrian8891 posted:
Again pepperstone has cheated .

Here's video how they taken around $110 in few seconds without any reasons (see ticks)

https://www.dropbox.com/s/3r3gzkusu515cz9/clip0031.avi


What exactly is cheating here?
You took trades of time of big spread with very low equity so that was expected results.
They could even charge you this -60 bucks.
vontogr (togr)
Jun 02 2016 at 12:13
4862 posts
I would find and cheating here but currently I withdrew USD and they sent me EUR.
So actually I got more than I should :)
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