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Aug 06 2014 at 10:26
Paracelsus66 posted:
On July 10th PEPPERSTONE has slipped a USD/SEK market order by 200+(!), i.e. TWO HUNDRED PLUS PIPS! Seriously! It was a devastating loss with 8 lots.
I could never imagine that a 200+ pips slippage can happen. At least not with Pepperstone. The INVISIBLE spike had never even showed up on their charts! They just filled the order 200+ pips away from the actual market BID/ASK.
Pepperstone's official response: 'This price was a lower tier offered by liquidity providers and as such is not represented on the chart - only top levels of liquidity is displayed.'
How convenient...! In other words they can fill any order at ANY price and get away with it.
I would like to see you post an image of the chart and your balance with the Filling,also you should know that with such pairs ludicrous slippages can happen due to sucky liquidity,so you should be aware of that..
Aug 06 2014 at 11:08
AndyQuant posted:Paracelsus66 posted:
On July 10th PEPPERSTONE has slipped a USD/SEK market order by 200+(!), i.e. TWO HUNDRED PLUS PIPS! Seriously! It was a devastating loss with 8 lots.
I could never imagine that a 200+ pips slippage can happen. At least not with Pepperstone. The INVISIBLE spike had never even showed up on their charts! They just filled the order 200+ pips away from the actual market BID/ASK.
Pepperstone's official response: 'This price was a lower tier offered by liquidity providers and as such is not represented on the chart - only top levels of liquidity is displayed.'
How convenient...! In other words they can fill any order at ANY price and get away with it.
I would like to see you post an image of the chart and your balance with the Filling,also you should know that with such pairs ludicrous slippages can happen due to sucky liquidity,so you should be aware of that..
Exibit No #1: It shows the lowest recorded BID of the 'displayed' spike.
Adjuntos:
Aug 06 2014 at 11:19
Exibit No. #2: It shows the actual fill price about 200 pips lower... Go figure!
At least the 200+ pips spike should have been displayed on the chart. Then it would be clear and obvious.
The bottom line is that any order can be filled at ANY price, so THEORETICALLY any account can be wiped out in an instant and LEGALLY, and the the fill price does even not have to show up on the chart.
I just wonder why they have not filled the order 500 or even 1000 pips lower? They could have gotten away with it, too...
At least the 200+ pips spike should have been displayed on the chart. Then it would be clear and obvious.
The bottom line is that any order can be filled at ANY price, so THEORETICALLY any account can be wiped out in an instant and LEGALLY, and the the fill price does even not have to show up on the chart.
I just wonder why they have not filled the order 500 or even 1000 pips lower? They could have gotten away with it, too...
Adjuntos:
Aug 06 2014 at 12:04
I've seen Pepperstone do similar, generally with exotics as well, although there is another thread on here where a guy was filled on GbpUsd 10 pips above the high of the bar on the news the other day and it wasn't even that big a news release.
Quite possibly genuine in what's happening but it's very damaging to accounts. I'm currently not trading with Pepperstone for this exact reason.
Best regards Steve
Quite possibly genuine in what's happening but it's very damaging to accounts. I'm currently not trading with Pepperstone for this exact reason.
Best regards Steve
11:15, restate my assumptions: 1. Mathematics is the language of nature. 2. Everything around us can be represented and understood through numbers. 3. If you graph these numbers, patterns emerge. Therefore: There are patterns everywhere in nature.
Aug 06 2014 at 12:15
I had slippages on XAU/USD as well, like +5.00$ (accounts for 50 pips in MT4) in high volatilty, but since i trade stock also I dont get shocked for excessive far filling... what i can advise to Paracelsus is to move to a professional broker if he trades high volumes. Pepperstone is a retailer therefore the flaws are many 😉
Aug 06 2014 at 12:42
This is something I saw on two separate accounts that same trade - one was filled like yours, the other was filled with reasonable slippage - both filled at the same time - big delay from order firing. Pepperstone have just brushed it off as being down to liquidity and hence spreads....the numbers were as you have said, way off the chart for any brokers price at the time. ridiculous.
Avoid Pepperstone at all costs.
Avoid Pepperstone at all costs.
Aug 06 2014 at 17:56
Pepperstone is not an STP broker they have an A & B book if they cant natch the client orders so they have a win win on bot sides of the trade only then they pass it to the liquidity provider. I found IC Markets the best out of all the Aussie brokers although now I only trade with FXCM UK since I have quite a large account & they are excellent on the active trader accounts in terms of execution & spreads. Plus the FSA regulations are much stricter than ASIC. You might also want to try LMAX that is really the works when it comes to transparency
Time is Money
Oct 21 2014 at 06:58
Thanks for this info guys! I was about to deposit a fair amount with Pepperstone, I will not now..
Oct 21 2014 at 16:19
kieranf posted:
Thanks for this info guys! I was about to deposit a fair amount with Pepperstone, I will not now..
I would avoid Pepperstone as the plague...
Oct 22 2014 at 13:48
I've seen ICM and CLM do the same recently - avoid also
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