Pepperstone.com - Anyone tried this Australian broker?

Have downloaded the Demo Account and the spreads look great - Anyone have any experience?

I just opened a live account with them.

I will keep you updated in coming weeks. They look promising, and they are regulated.

any update from you Guys

This is a list of MT4 brokers for each country

 

http://xxx.100forexbrokers.com/mt4forexbrokers

 

I think all brokers in Australia have to be regulated

by law

any update from you Guys

 

What did you want to know?

 

I mainly use them to trade the cross currencies - spreads are excellent compared to others.

The majors are not as competitive.

Edited March 22, 2011 by mlee
clarification

Yes - I have started trading live and their spreads are excellent - Exactly the same as demo spreads

pepperstone is axistrader.....same servers, same spreads..only PO box as an address

 

 

Pepperstone-Live Pepperstone Financial Pty Ltd � mt4live01.axistrader.com.au

Edited March 22, 2011 by zoop

I dont think so - I have a RAZOR ECN account that has spreads of 0.1 on the EURUSD and has a commission of $3.50 AUD per 100K traded like MB Trading and FinFx. Its good to finally have another ECN broker that allows 200:1 leverage

They have stoplevel 2 on all accounts (including RAZOR)

I tried the demo account but it seems that they will be big players in the market in the near future

yes, pretty good. but spreads do widen. they have arrangements with some brokers where you could transfer money over at lower bank charges. i think there are only one or two ib where you can get a rebate. i signed up through the aslan group which was where i first came across pepperstone.

I recently funded a live account with them and have placed a handful of trades - so far I'm pretty impressed.

 

# The order execution is as fast as I've experienced anywhere & I haven't noticed any slowing around major economic releases as yet

# Spreads are pretty tight, definitely tighter than Axis and every bit as tight Gomarkets

# I'm receiving rebates which makes their spreads tighter than Gomarkets as they recently reneged on their rebate offer with my rebate company which was one of the main reasons I changed.

# The only downside so far is that they have the '2 pip rule', whereby pending orders must be at least 2 pips outside the bid/ask. Before opening my live account I spoke with them and their representative informed me this would be reduced to 0 pips in the near future - I hope so.

 

# Prior to reneging on their rebates, Gomarkets introduced the '2 pip' rule. A lot of MT4 brokers have this and it pisses me off. Originally Gomarkets allowed pending orders to be placed inside the spread which was one of the clinchers for me opening a live account with them. I emailed them asking why the change in trading conditions and to express my dissatisfaction, and they said the change was necessary because traders using the rebate companies to 'churn' their accounts with hundreds of quick trades for the sole purpose of obtaining rebates. So what if this actually was the case, they still get their slice of the pie and there is still a significant risk to the trader that a trade will go into the red & never comes back. A couple of weeks later they advise (or rather my rebate provider advises) that Gomarkets are no longer honoring their rebate agreement.

 

Spreads - I've been at this game over 10 years & I've seen 1st hand every(well most) trick in the book. Spreads are not everything. Obviously order execution and security of your funds are paramount in choosing a broker, but what a lot of newer traders don't realise is that many brokers run software on the back-end (just like running an EA on the front end) of MT4 in order to 'shade' the prices. If you've got accounts with several brokers you may notice that one broker always seems to have lower quotes when the market is trending down & higher quotes when the market is trending up. They are running software at their end to cause this. Even though their spreads may be 1/4 or 1/2 or even a full pip better, you are getting a worse price by a pip or so assuming you are trading with the trend. The exception being if you use limit orders it's possible I guess to getter a better price, but I would say most traders and EA's use market or stop orders to enter their trades. The same back-end software can be used to delay order execution, widen spreads and all sorts of other devious tricks designed to take your money.

I noticed that they started to freeze your MT4 when come to drastic candlestick fluctuation or econ news....

What EURUSD sread this broker offers?

I am planning to open an ecn account with them tomorrow because I have done my homework and think they are sound brokers...time will tell...but the best way to go is trade with an australian broker because of the strict regulations in the country...you cannot go wrong.

I dont think so - I have a RAZOR ECN account that has spreads of 0.1 on the EURUSD and has a commission of $3.50 AUD per 100K traded like MB Trading and FinFx. Its good to finally have another ECN broker that allows 200:1 leverage

 

This is AUD$ 7.00 round trip in commisssion.

International capital markets (ICM)also an aussie broker ,also ECN has AUD$5.00 round trip in commisssion per standard lot.

 

IBFX(AUS) is kind of STP broker..... and gives vps (virtual server) rebates for $5000.00 min each month account balance. A saving of 35x12= $420 a year.