# Pepperstone



## Grinder (7 March 2012)

Has anyone traded through Pepperstone? I've heard mixed responses, any feedback is much appreciated.


----------



## TulipFX (7 March 2012)

Grinder said:


> Has anyone traded through Pepperstone? I've heard mixed responses, any feedback is much appreciated.




Hi Grinder,

We trade with Pepperstone. Not a trifling sum either into the 6 figures and have found them to be excellent.

First the good bits:

Aussie based, wish associated regulation and auditing requirements (as opposed to Cyprus, Russia or elsewhere).

Best spreads for retail traders, especially if using the MT4 platform.

Good support service. You call you speak to someone in their office, not an out sourced call center.


One of the issues they have had recently have been disconnects, which noone likes. Basically they have been a victim of their own success to a degree and their servers were struggling to pass through the orders onto their liquidity providers.

Just last weekend they doubled their server size and seperated their spread based payment accounts from their commission based accounts. This week I have no had any disconnects - so that issue seems to be resolved (at least in the short term).

They are also working on massively increasing their liquidity providers. At the moment this is still in beta with a few clients on this new server. It seems to be stable, spreads are about the same, but if there is more liquidity coming through that should be a big positive for traders with larger trade sizes.

Overall though - I am very pleased with their service and would recommend them without hesitation to anyone looking for a forex broker. 

I plan to post up a blog about how to choose a good forex broker soon - as the question often comes up. 

Hope I helped you a bit with your decision.


----------



## hedgetrader (7 March 2012)

If you are trading with scalping EA's Peppersone's set up is pretty good.  It gives better signals then most brokers.

Also as TulipFX said. It is Australian regulated.


----------



## TulipFX (7 March 2012)

I just posed up a rather long blog on selecting forex brokers. So long I had to split it in two: https://www.aussiestockforums.com/forums/entry.php?b=933


----------



## Grinder (9 March 2012)

very useful thanks. Im running a bot on MT4 so needing tight spreads with no disconnections and seeing that it's under ASIC makes me worry less about being cleaned out


----------



## sinner (9 March 2012)

TulipFX said:


> Overall though - I am very pleased with their service and would recommend them without hesitation to anyone looking for a forex broker.




+1

I reckon if they opened up their backend to access through an API or NinjaTrader they would pull some serious pro cash and move their name to the front of the list for Aussie forex brokers. It's a real shame they are sticking to MetaTrader4/5 as their platform in that regard, I think they're only doing it to compete with Gomarkets, they could be so much better.


----------



## TulipFX (10 March 2012)

sinner said:


> +1
> 
> I reckon if they opened up their backend to access through an API or NinjaTrader they would pull some serious pro cash and move their name to the front of the list for Aussie forex brokers. It's a real shame they are sticking to MetaTrader4/5 as their platform in that regard, I think they're only doing it to compete with Gomarkets, they could be so much better.




They have in development a new price feed. Basically cutting out Integral and doing what Integral does for them at the moment, themselves. However they are having trouble integrating the rubbish MT4 platform into the feed.

I am using the beta service (they are calling EDGE) and it seems to be very robust, slippage is virtually nonexistant.

When it comes online there will be a direct API to connect into it. So it seems your wish is coming true


----------



## Grinder (22 March 2012)

TulipFX said:


> They have in development a new price feed. Basically cutting out Integral and doing what Integral does for them at the moment, themselves. However they are having trouble integrating the rubbish MT4 platform into the feed.
> 
> I am using the beta service (they are calling EDGE) and it seems to be very robust, slippage is virtually nonexistant.
> 
> When it comes online there will be a direct API to connect into it. So it seems your wish is coming true




Do you think there problems with MT4 will get resolved or is it a niggling problem?


----------



## TulipFX (24 March 2012)

Depends if you mean the problems with MT4 the platform which is now, in terms of software, somewhat an old lady - or you mean the complaints about disconnects that Pepperstone had a couple of months ago.

MT4 just has limitations. Ourselves, we devise some neat tricks to get around these. The amount of code available in the community of coders means that despite these limitations the platform continues to be a good one for those wanting to code automated traders.

Pepperstone specifically. They have solved these disconnects and are working on improving their service even further. Pepperstone to a degree have become a victim of their own success, especially having many traders using a couple of the very popular high frequency scalpers which placed massive strain on their servers. The problem wasn't as much with the Pepperstone to client side, but with Pepperstone to Integral side. Integral is the company which collates various bank and fund feeds and passes it onto many retail brokers. When the connection between Pepperstone and Integral breaks down, so does trading.

They are working on taking those price feeds from banks and funds directly, rather than their feed through Integral. There are a few MT4 issues in their backend they are working on smoothing out before rolling it out to the general trading population. However I have been running on this new server for about 6 weeks and have found it to have significantly more liquidity. So that bodes well for further improvement in the retail trading market for us traders.

The thing which I liked about Pepperstone was when they were having issues they were upfront about it. At least to me. 'Yes we have this problem, this is what we are doing to solve it' I was told. Pepperstone have worked to solve that issues and also improve trading conditions. Other brokers I have been with in the past have made excuses and tried to blame my side of the system. Sometimes things just don't go perfectly - and it gives me confidence when no punches are pulled in these situations.


----------



## Grinder (28 March 2012)

thanks for the informative reply.


----------



## Mike Kshemaraja (23 April 2012)

This morning I had some kind of communication with Pepperstone, they sound very unprofessional, they did not know very much about their platform, and find them very unhelpful. They refereed to their platform as a third party platform, yes but is their job to know how it works. Isn't it?

Sorry, from me is a big NO NO.


----------



## TulipFX (24 April 2012)

Mike Kshemaraja said:


> This morning I had some kind of communication with Pepperstone, they sound very unprofessional, they did not know very much about their platform, and find them very unhelpful. They refereed to their platform as a third party platform, yes but is their job to know how it works. Isn't it?
> 
> Sorry, from me is a big NO NO.




Not sure who you talked to, but I have found their service polarly opposite. In the end though selecting a broker is a personal decision and it is vital to do due diligence.


----------



## Mike Kshemaraja (24 April 2012)

TulipFX said:


> Not sure who you talked to, but I have found their service polarly opposite. In the end though selecting a broker is a personal decision and it is vital to do due diligence.




He said his name was Joe, and he told me he was also the manager there.

I told him that was important for me to import their data into my software, because in mt4 you cannot view the 70 tick or 30 seconds chart.

He did not have a clue of our things worked, at one point he said he could help but he wanted to know how much money I was opening the account with.

I reminded him that the size of the account should not really matter, he should be able to supply the information in spite of that.


----------



## TulipFX (26 April 2012)

Joe who is I deal with and have found him very helpful as well as personable.

He doesn't work for MetaTrader, so I wouldn't expect him to be up to speed with custom time frames.

You can create 30 seconds (or any timeframes) in MT4. Do a google and read up about it.


----------



## Mike Kshemaraja (26 April 2012)

TulipFX said:


> Joe who is I deal with and have found him very helpful as well as personable.
> 
> He doesn't work for MetaTrader, so I wouldn't expect him to be up to speed with custom time frames.
> 
> You can create 30 seconds (or any timeframes) in MT4. Do a google and read up about it.




The point remain the same. Is mt4 their platform?  If he does not know about mt4, he should address me to someone you does and not to ask me what size of account I want to open. That to me is a very rude manner to deal with a prospective client, imagine what will happen when a problem arise, they probably will tell that mt4 is a third part platform and they have not responsibility. In my experience mt4 sucks and delivers all sort of problems.

Now this is a thread to express thought on this broker, I honestly told here what happen, if you do not agree that is your prerogative.

The fact that he is friend of yours, does not change my opinion on them. My opinion is based on information that he was able/not able to deliver in a very unprofessional manners.


----------



## TulipFX (26 April 2012)

Just wanted to state that Joe is not my friend, just my account manager.


----------



## jr689 (27 June 2012)

Hi guys, I'm new here, but I've been with pepperstone for the past 5 months and I am more than happy with them.

Would recommend them to anyone!

I register with an 'introducing broker' and as a result I get monthly rebates, which is always good.

jr


----------

