Pepperstone

[Dave]

So after a suggestion from Immy that Pepperstone is a decent broker, I'm doing some research before I make a decision whether to switch brokers or not. Does anyone out there have any experience with Pepperstone's execution, spread, data feed etc.? I'm getting a bit sick of using FXCM as a demo account for AIMS on MT4 and then placing my trades on IG advanced charts, delays the process and just introduces room for error and inconsistency. And I have to draw on my charts for my journal. And I need more screen real estate to see everything that's going on.

I've also done some very basic calculations, does anyone agree/disagree with these numbers?

Using 1 lot as an example:

1 lot = USD$10.00 per pip.

Current IG spread on EU approx. 1.7 pips, = USD$17.00
Commission on Pepperstone = AU$3.50 per lot, + the 0.8 pip spread, = USD$8.00, so total charge to enter = USD$11.50 (assuming AUDUSD parity)
Difference of +AUD$5.50 on 1 lot

Current IG spread on EJ approx. 2.5 pips, = $25.00
Commission on Pepperstone = AU$3.50 per lot, + the 1.1 pip spread, = USD$11.00, so total charge to enter = USD$14.50 (assuming AUDUSD parity)
Difference of +AUD$10.50 on 1 lot

So it seems that not only will it be simpler for trade management, but also more profitable by reducing trade costs. With the added bonus that at tax time I can claim the $3.50 commission from every trade as a tax deduction as costs of operation. Hoping someone has a second to double check these numbers! Thanks (I know it's straight forward but I'd hate to make the switch and find that a simple error has meant I'm worse off!).

Dave

[Dave]

Horrible reviews on Forex Peace Army.

Question... Do you pay the commission on both sides of the order? Open and close? Or just on open?

Thanks

[immy]

Horrible reviews on Forex Peace Army.

Question... Do you pay the commission on both sides of the order? Open and close? Or just on open?

Thanks

There are a few glitches here and there but much better than many others. Alpari is a solid broker but still many bad reviews, because things go wrong, or some customers dont get the best service. I'm sure Herbert and Erik if they read this post will be able to add their experience. Erik surely had a good experience. In fact changing to lowest spread is so important on anything lower than h1 time frame that it may be the difference between being profitable or not. Erik can testify to this fact.

cheers

[Dave]

For those that are interested, commission is paid on both sides of the order. So on an EU trade it's AUD$7.00 for the open and close. Which makes the difference AUD$2.00 on one lot when compared to IG, not AUD$5.50 as I mentioned previously.
But, Pepperstone have told me the minimum stop distance on all FX pairs is just 2 pips, so that would make trade management much easier. I'll be investigating this on their demo accounts and I'll update this topic when I know the score.
Dave

[Herbert]

Howdy howdy howdy. B-)

On Pepperstone: Been with them though several product changes, right from when they broke into the market. They tend to lend themselves to leading edge technology. Read their latest webpage for the "EDGE".
In the beginning they suffered a lot of data break from their upstream feeds, especially on euro. I am on the low spread, EDGE with commission both ways. Works like a charm for me. I got enlightened by Immy one day when i realised a failed trade can be simply caused by wide spread, especially if you trade low risk, huge gains like AIMS on M1 . Gotta love those tight spreads..... the commission, well, you do take a setup, not just shooting from the hip, so the setup warrants the commission.... click, it's over, no spread to mess with the trade parameters... (whew) B-)

Yes, there are glitches, but as said, who does not have these, but nowhere near the horror stories i hear from other brokers. I am also with FXCM, them being so "popular" and "huge" I have seen my share of royal f$%^-ups from them.....

The search for the perfect broker is as vain as searching for the holy grail.........
Pepperstone continually improve... I am happy with them.

Brits vs. Aussie, i take Aussie this round..... cheers

8ba87fee-4af2-fb01.jpg

[immy]

Howdy howdy howdy. B-)

On Pepperstone: Been with them though several product changes, right from when they broke into the market. They tend to lend themselves to leading edge technology. Read their latest webpage for the "EDGE".
In the beginning they suffered a lot of data break from their upstream feeds, especially on euro. I am on the low spread, EDGE with commission both ways. Works like a charm for me. I got enlightened by Immy one day when i realised a failed trade can be simply caused by wide spread, especially if you trade low risk, huge gains like AIMS on M1 . Gotta love those tight spreads..... the commission, well, you do take a setup, not just shooting from the hip, so the setup warrants the commission.... click, it's over, no spread to mess with the trade parameters... (whew) B-)

Yes, there are glitches, but as said, who does not have these, but nowhere near the horror stories i hear from other brokers. I am also with FXCM, them being so "popular" and "huge" I have seen my share of royal f$%^-ups from them.....

The search for the perfect broker is as vain as searching for the holy grail.........
Pepperstone continually improve... I am happy with them.

Brits vs. Aussie, i take Aussie this round..... cheers

8ba87fee-4af2-fb01.jpg

As always, I'm delighted to read your post. Thanks ... I'm about to transfer 5Mills to that account..

[Dave]

Thanks Herbert for your thorough review - a big help! I've tried to open a demo account without success today, just won't work, but I'll persist (and cheers to Lizzie).

[Den]

I looked at pepperstone some time ago, and so tempted but was horrified to find out that breakaways from Go Markets had formed the co. (whom I had trouble with).

Who do you trust ? I am told that AVA is the one to trust but their spreads are large for 1 min scalping,

You get your head around trading which is hard enough and then fight brokers :ymsigh:

Seriously please correct me if Im wrong, I dont think any broker will allow you to take 5% + per day.

[Den]

Im with AVA, GKFX, ALPARI.

I recently opened live accounts with ARMADA and LMAX ( recommended from a friend who is Fund manager in London ) and they use the prime FX bridge, typical spreads for e/u is .3, lightning fast execution no requotes, no messing with you.

LMAX is an institutional broker ( 10 k min) and Armada for retail clients. Im really impressed. Just sharing thats all.