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Help on pip prices with Pepperstone

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typicalozzy

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18 February 2017
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Hi everyone,
For starters if people could recommend a legitimate forex company to trade with would be great.
Ok ive been with FXCM for a year or so and after the U.S ban got cold feet. Thoughts on this would be helpful.
So I signed up to pepperstone yesterday morning. During a few trades i noticed the losses in pips were extremely high and gains were not. So i had a play around with a small trade.

I opened long at .77033. at .77043 my profit was $6.49 and set a stop loss at .77023 to see the loss and which it did $-12.98!! am i losing my mind? the losses have been manipulated to be doubled??
.77043 $6.49
.77033 $0.00 (open)
.77023 -$6.49

Please someone explain and tell me ive lost my mind.

I rang them. they said to email a complaint.
I went to login to my main account this morning no success wont let me login.
 
FXCM is a minefield so good job moving from it.

Have to see a screen shot of the trade history part to figure out if anything's wrong.
 
It could be slippage. I don't think they are going to commit a crime to steal your 6 bucks. As stated, screenshot would help but the first step probably is to gain access to your account. Can you take steps to recover your password and reset it?
 
There's a whole raft of fines against FXCM now, here is just the latest:
http://www.cftc.gov/idc/groups/publ.../legalpleading/enfforexcapitalorder020617.pdf

Anyways, it looks like you are trading with full lot sizes which would mean you have at least a 100k account, which should also mean you should have done dilligent research, and should be well wise enough by now to have accumulated such wealth to trade with.
Besides the above you would be charged the standard $7.00/lot round turn which puts you at your loss anyway, add to that spread and slippage and viola.

But setting your stop 1.0 pip from entry is nuts anyway, minor swings in most currency pairs start at 8.0-9.0 pips. As soon as you enter your long the price drops to fill the order which is common in spot FX for many reasons.
 
cogs said:
There's a whole raft of fines against FXCM now, here is just the latest:
http://www.cftc.gov/idc/groups/publ.../legalpleading/enfforexcapitalorder020617.pdf

Anyways, it looks like you are trading with full lot sizes which would mean you have at least a 100k account, which should also mean you should have done dilligent research, and should be well wise enough by now to have accumulated such wealth to trade with.
Besides the above you would be charged the standard $7.00/lot round turn which puts you at your loss anyway, add to that spread and slippage and viola.

But setting your stop 1.0 pip from entry is nuts anyway, minor swings in most currency pairs start at 8.0-9.0 pips. As soon as you enter your long the price drops to fill the order which is common in spot FX for many reasons.
Click to expand...

If there is no leverage involved, you would need at least a 100k account. But Pepperstone offers up to 500:1. You only need at least a 200 account to cover margin requirement to trade 1 lot.
 
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