Pepperstone Feedback
- Thread starter Ramy3
- Start date
This is interesting:
http://www.businessinsider.com.au/australias-largest-fx-brokerage-pepperstone-will-be-watching-ozforex-to-decide-when-and-where-to-list-ceo-2013-9
Pepper could go the way of other larger brokers and go IPO.
I've been playing around with ASX stocks at my work and it would be interesting to see Pepper listed one day. ;D
They made the Wall Street Journal even: http://blogs.wsj.com/moneybeat/2013/09/22/australian-fx-broker-pepperstone-mulls-options-after-rejecting-bids/
Apparently they've received multiple takeover offers but have rejected them all.
That's saying quite a bit about their strengths.. an IPO is a harder sell if their ballance sheet and cashflow isn't solid.
http://www.businessinsider.com.au/australias-largest-fx-brokerage-pepperstone-will-be-watching-ozforex-to-decide-when-and-where-to-list-ceo-2013-9
Pepper could go the way of other larger brokers and go IPO.
I've been playing around with ASX stocks at my work and it would be interesting to see Pepper listed one day. ;D
They made the Wall Street Journal even: http://blogs.wsj.com/moneybeat/2013/09/22/australian-fx-broker-pepperstone-mulls-options-after-rejecting-bids/
Apparently they've received multiple takeover offers but have rejected them all.
That's saying quite a bit about their strengths.. an IPO is a harder sell if their ballance sheet and cashflow isn't solid.
shopster
Well-Known Member
AB,
both apps. have their advantages.
ctrader is very clean on large multi car execution.
expect they will round out and add futs. down the road.
adding the grease contract to trade would be a step up as they already have the glitter twins on board.
s
......................
both apps. have their advantages.
ctrader is very clean on large multi car execution.
expect they will round out and add futs. down the road.
adding the grease contract to trade would be a step up as they already have the glitter twins on board.
s
......................
Alpha-Bet said:Hey Shopster?! Anything to add?
Forex Magnates mentioned this once before in an article about 3-4 months ago, but their quarterly industry report confirmed that Pepper is now ranking number 1 in Australia for volume processed. They are also closing in on the global top 10 (ex-Japan) as they currently rank 11 according to Forex Magnates.
url removed
(edit: they removed their blog on their main site, but the rank was still valid at the time of posting.)
Interesting... in just a few years they went from start up to top dog.
url removed
(edit: they removed their blog on their main site, but the rank was still valid at the time of posting.)
Interesting... in just a few years they went from start up to top dog.
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Hello! this looks like an interesting forum! I am currently researching Pepperstone and would like to ask about if there have been any disconnects/freezes over the last few months please. Also please advise as to the customer service when opening an account, can I apply online and upload all docs instead of speaking with staff over the telephone? Many thanks in advance
Tauranga said:Hello! this looks like an interesting forum! I am currently researching Pepperstone and would like to ask about if there have been any disconnects/freezes over the last few months please. Also please advise as to the customer service when opening an account, can I apply online and upload all docs instead of speaking with staff over the telephone? Many thanks in advance
No disconnects over the last few months, at least not that I've noticed.
A long while ago (must be over a year now) Pepper had some disconnect issues related to growing their customer base very quickly (needed more servers to handle the load) but they've since fixed that and it's been pretty smooth lately.
You don't need to talk to them over the phone to open an account, that process is entirely online and automated. Though, I'm not sure how they handle document submission.. back when I first created an account I had to send in my docs via email (if my memory serves me right..) but now I think you submit them as part of the online account opening process.
In any case, the only time you'll call them is if/when you want to...
Hello Jack, thank you kindly for your comments, please can I ask you also about crediting the account and the leverage applied on account opening. I have a look at their website and it looks to be 1:200 upon account opening and that I can credit the account online via debit card transfer, just wondered how quickly they process it and if any hidden fees etc? much appreciated
Jack said:
Tauranga said:Hello Jack, thank you kindly for your comments, please can I ask you also about crediting the account and the leverage applied on account opening. I have a look at their website and it looks to be 1:200 upon account opening and that I can credit the account online via debit card transfer, just wondered how quickly they process it and if any hidden fees etc? much appreciated
Well, not all funding methods are the same fee wise. Sometimes the processing company takes a cut, but that's usually out of Pepper's hands.
For instance, if you fund via Credit Card, there's usually a few % taken off by the processing company and CC issuer. If you're funding via CC in Australian dollars, it's only 1.8%, but it's 3% via all other currency types.
That being said, it's much cheaper to fund via other methods. Like the local bank transfer option, where so long as you're not doing a currency conversion as part of the deposit and the deposit amount is above ~$1001USD in value, there's effectively no fees.
I couldn't find a public page explaining how the local bank transfer option works on Pepper's main site, but I attached the info found within the secure client login site used to manage accounts once you are a client.
Regardless, you'll probably want to speak to Pepper's support chat to make sure the method you pick will result in the fees (or lack of) that you expect. They have a live text chat option on their site and their chat support is decent.
Attachments
Leverage wise, you can request up to 400:1 on your accounts.
Personally, I think 400:1 leverage is a bit risky, and I usually suggest that people (especially new traders) stick with much lower leverage (like 50:1 or less.) I mean, if you fully margin yourself at 400:1 in a position, that kinda risk isn't very forgiving should you make a mistake...
Of course, that's my opinion.. if you want 400:1, Pepper will give it to you no problem.. it takes just a few clicks in the client portal (website for clients to manage accounts) to request a leverage change and last time I did one it took about a day to change.
Personally, I think 400:1 leverage is a bit risky, and I usually suggest that people (especially new traders) stick with much lower leverage (like 50:1 or less.) I mean, if you fully margin yourself at 400:1 in a position, that kinda risk isn't very forgiving should you make a mistake...
Of course, that's my opinion.. if you want 400:1, Pepper will give it to you no problem.. it takes just a few clicks in the client portal (website for clients to manage accounts) to request a leverage change and last time I did one it took about a day to change.
Tauranga said:Hello Jack, thank you kindly for your comments and sharing your knowledge, much appreciated. I have a few more questions which I will save for the live chat with Pepperstone, and then maybe I will come back and post my experiences here, thanks again.
No problem. And welcome to the forum!
Happy New Years guys! :thumbsup:
Just a quick question please if I may regarding the tick volume accuracy of data with Pepperstone live accounts, does anyone use Volume in their trading and if so is it fairly accurate? Many thanks for any feedback with regards to Volume
Just a quick question please if I may regarding the tick volume accuracy of data with Pepperstone live accounts, does anyone use Volume in their trading and if so is it fairly accurate? Many thanks for any feedback with regards to Volume
Tauranga said:Happy New Years guys! :thumbsup:
Just a quick question please if I may regarding the tick volume accuracy of data with Pepperstone live accounts, does anyone use Volume in their trading and if so is it fairly accurate? Many thanks for any feedback with regards to Volume
In spot FX, there is no accurate measure of transaction volume regardless of the broker. It is all just an estimate based on the frequency of change in price.
The reason for this relates to how Forex is decentralized and not traded on a single exchange like other markets. There's no way to collect all trades across all venues for an accurate idea of the volume processed. Atop of that, there's still a lot of variation between contract specifications between venues (traded for delivery, or swaps for cash settlement, or CFDs for cash settlements, etc..) and types of FX transactions as it relates to spot (forwards, foreign credit transactions, swaps (again,) futures, and all the OTC exotic contracts drafted up between banks and large clients... etc..,) that measuring just 'on the spot' transactions wouldn't really reflect the market as a whole..
So, with all this in mind, and knowing that traders from other markets expect some sort of volume measurement, the retail FX world settled on displaying 'tick volume' as a replacement for regular volume.
Tick volume has many issues.. for instance, since it increases when the quote is changed, that means that tick volume goes up even when LPs are just repricing their quotes (which happens often, as algos constantly reprice quotes to probe about the spread and shake out trades.) And it's not best to use if you're trying to convert a volume based trading method from another market into forex. However, it's better than nothing, if you like having some measurement of activity.
I actually got quite upset at a major voice in the retail FX community (a well known tool and site) for trying to suggest tick volume was a measurement of liquidity... (they were suggesting that the higher the tick volume--again that being just a frequency of quotes changing--the higher the liquidity available... the two are not related at all, but the noobs reading their site would just take it as fact without knowing better. That frustrated me. I think the site was just trying to be unique with a new feature that no one else had by inventing some relationship that didn't exist... I wrote about it here:
Metatrader 4 - Tick Volume in FX does not Equal Liquidity
Something that's been bothering me a lot lately that relates to MetaTrader 4, and most forex focused platforms for that matter: The confusion around volume as displayed in the platform thanks to MetaQuotes (and other's) misrepresentation of the indicator. In essence, MetaTrader 4 doesn't report...
fxgears.com
There's also a bit more info on tick volume in general if you follow that link.
Also, this only really works for the euro and other highly traded contracts, but another substitution for volume in the spot FX market would be looking at the futures volume of the related futures contract.
For the EURUSD for exmaple, it would be 6E contracts on the CME. The volume of 6E is actual volume traded and each contract is worth 125k euros worth of exposure.
Getting a demo account of any given futures broker will give you access to this data. Though, I do not suggest new traders actually trade futures.. so please don't go down this road if you're easily sold as a futures broker's reps will probably try to get you to sign up. (The exposure 1 contract of 6E gives you is very risky for smaller accounts and new traders.. spot FX lets you control your risk a lot easier with microlots, which are not only priced better than futures in the total cost of trading sense, but are refined down to 1/100 of the exposure if desired.)
Hope that helps.. That's it for me tonight, I'm out for NYE festivities.
For the EURUSD for exmaple, it would be 6E contracts on the CME. The volume of 6E is actual volume traded and each contract is worth 125k euros worth of exposure.
Getting a demo account of any given futures broker will give you access to this data. Though, I do not suggest new traders actually trade futures.. so please don't go down this road if you're easily sold as a futures broker's reps will probably try to get you to sign up. (The exposure 1 contract of 6E gives you is very risky for smaller accounts and new traders.. spot FX lets you control your risk a lot easier with microlots, which are not only priced better than futures in the total cost of trading sense, but are refined down to 1/100 of the exposure if desired.)
Hope that helps.. That's it for me tonight, I'm out for NYE festivities.