Resolved: Pepperstone increasing marging requirements from 0.5 to 15% in oil pairs

[edisondanielmv]

Hello guys.

I had really bad experiences with pepperstone.
They didn't respect my stop losses orders they said it is the slippage and this is part of the game so they didnt take responsability of the contract that we do when we set a stop loss. And I lost nearly 2% of my account.

Then I was trading xtiusd(oil) and I set pending orders so when they were hit they didnt activate the orders and I received an email saying that the name of the pair changed from xtiusd to stopcrude but the had totally different prices and they were not the same at all. So they didnt activate my orders I lost the opportunity to try to close my positions at break even.

Then I started trading this new instrument spotcrude and when I wanted to oppen positions the market got frozen it didn't move at all so I contacted them and they said that no one was able to take the position it means that there was no liquidity and as far as I understand the job of the broker is to provide liquidity for us to trade.

A little later I managed to open a trade to hold long time because the margin requieres was 0.5% and I opened two more trades. So just now I received an email saying that the margin required to trade will be increased to 15% it is insane how can they increase from 0.5 to 15%???
The email doesn't say it will be temporary it just say it will be incresed to 15%.

So now I'm trapped I'm pretty sure the spread will be increased and when the marked moves they will close accounts because of not enough margin. But the contract that I agreed when I opened the trades was with 0 5% margin and now they said for new and old orders the margin will be changed. This is totally unfair. So they dont respect at all what you trade on the terms you enter the trades.

Please let me know what can I do??? I need some HELP. I have proof of the emails chats and videos of me trying to take the trades and they don't open. Or when the market got frozen and it doesn't move.

I really appreciate your answers becuase these guys wont take any responsability they just say you will be able to manage your risk and I agree but you can't manage your risk if the rules of the game will be change any time with no enough time to take some preventions. An ofcourse they won't take any responsability compensating the people that for sure their accounts will be closed because of not enough margin.

Thanks a lot for your answers. Please help me.

 

[compu-forex]

I trade with several brokers and just about every one of them has increased the margins. They are actively discouraging traders from trading oil. I would heed their advice. Given the volatility of oil, 15% margin is nothing and if it is a problem, I would suggest that you are trading high risk.

In terms of stoploss, you would need to read up on how a stoploss works. Brokers don't guarantee stoplosses at all. They also don't guarantee liquidity.......

I understand why you are unhappy but this is not a problem with the broker.

 

[The Reaper of F]

Simple, they won't tolerate the risk, that's why it's passed unto you via a slapped of restriction over it by keeping your account's margin under control. Let's just say... if everyone made a hefty profits out of it and there are no counter-parties to sell to... would the broker still pay you at the end of the day? Ha. You bet.

 

[FxMaster]

Hello guys.

I had really bad experiences with pepperstone.
They didn't respect my stop losses orders they said it is the slippage and this is part of the game so they didnt take responsability of the contract that we do when we set a stop loss. And I lost nearly 2% of my account.

Then I was trading xtiusd(oil) and I set pending orders so when they were hit they didnt activate the orders and I received an email saying that the name of the pair changed from xtiusd to stopcrude but the had totally different prices and they were not the same at all. So they didnt activate my orders I lost the opportunity to try to close my positions at break even.

Then I started trading this new instrument spotcrude and when I wanted to oppen positions the market got frozen it didn't move at all so I contacted them and they said that no one was able to take the position it means that there was no liquidity and as far as I understand the job of the broker is to provide liquidity for us to trade.

A little later I managed to open a trade to hold long time because the margin requieres was 0.5% and I opened two more trades. So just now I received an email saying that the margin required to trade will be increased to 15% it is insane how can they increase from 0.5 to 15%???
The email doesn't say it will be temporary it just say it will be incresed to 15%.

So now I'm trapped I'm pretty sure the spread will be increased and when the marked moves they will close accounts because of not enough margin. But the contract that I agreed when I opened the trades was with 0 5% margin and now they said for new and old orders the margin will be changed. This is totally unfair. So they dont respect at all what you trade on the terms you enter the trades.

Please let me know what can I do??? I need some HELP. I have proof of the emails chats and videos of me trying to take the trades and they don't open. Or when the market got frozen and it doesn't move.

I really appreciate your answers becuase these guys wont take any responsability they just say you will be able to manage your risk and I agree but you can't manage your risk if the rules of the game will be change any time with no enough time to take some preventions. An ofcourse they won't take any responsability compensating the people that for sure their accounts will be closed because of not enough margin.

Thanks a lot for your answers. Please help me.

Big mystery with Oil nowadays, what reply you have received from pepperstone regarding this yet?

 

[The Reaper of F]

Big mystery with Oil nowadays, what reply you have received from pepperstone regarding this yet?

The mystery is with XTIUSD being a CFD contract when the pricing is calculated using a weighted average formula primed on WTI's pricing. The thing is, I don't get why and as to the length on brokers having offered this product. Notwithstanding the fact, not many brokers offered this financial instrument to trade with, only a handful of few. To me, WTI is the real deal.

 

[oscarra]

The mystery is with XTIUSD being a CFD contract when the pricing is calculated using a weighted average formula primed on WTI's pricing.

Interesting, and who is doing the math behind this XTIUSD or innovated the product, any further info

 

[edisondanielmv]

Hello guys.

I had really bad experiences with pepperstone.
They didn't respect my stop losses orders they said it is the slippage and this is part of the game so they didnt take responsability of the contract that we do when we set a stop loss. And I lost nearly 2% of my account.

Then I was trading xtiusd(oil) and I set pending orders so when they were hit they didnt activate the orders and I received an email saying that the name of the pair changed from xtiusd to stopcrude but the had totally different prices and they were not the same at all. So they didnt activate my orders I lost the opportunity to try to close my positions at break even.

Then I started trading this new instrument spotcrude and when I wanted to oppen positions the market got frozen it didn't move at all so I contacted them and they said that no one was able to take the position it means that there was no liquidity and as far as I understand the job of the broker is to provide liquidity for us to trade.

A little later I managed to open a trade to hold long time because the margin requieres was 0.5% and I opened two more trades. So just now I received an email saying that the margin required to trade will be increased to 15% it is insane how can they increase from 0.5 to 15%???
The email doesn't say it will be temporary it just say it will be incresed to 15%.

So now I'm trapped I'm pretty sure the spread will be increased and when the marked moves they will close accounts because of not enough margin. But the contract that I agreed when I opened the trades was with 0 5% margin and now they said for new and old orders the margin will be changed. This is totally unfair. So they dont respect at all what you trade on the terms you enter the trades.

Please let me know what can I do??? I need some HELP. I have proof of the emails chats and videos of me trying to take the trades and they don't open. Or when the market got frozen and it doesn't move.

I really appreciate your answers becuase these guys wont take any responsability they just say you will be able to manage your risk and I agree but you can't manage your risk if the rules of the game will be change any time with no enough time to take some preventions. An ofcourse they won't take any responsability compensating the people that for sure their accounts will be closed because of not enough margin.

Thanks a lot for your answers. Please help me.

Guys the things have turned worst. The xtiusd and xbrusd meaning the wti and brent pair have substantially moved up and this new product doesn't move at all. It remains under 8.5usd

I couldn't find other broker which is offering the same pair and I dont know who is making the math behind this instrument.

This is totally unfair they created a new instrument that doesn't follow at all the market movements.

In my opinion the created this instrument just to make traders impatient and of course they will be obligated to cut their losses meaning more money to the broker.

I'm still trapped and I had to open trades in other pairs to try to compensate the losses I'm having because of this new pair.

I totally suggest not to trade spotcrude and consider other more transparent broker.

I totally feel that they took advantage of me
1. not opening my pending orders.
2. Not allowing to trade xtiusd in normal conditions of the market
3. Creating in my opinion a fake pair that doesn't move and is manipulated.
4. Freezing the market for even minutes and not allowing to take trades.
5. Not respecting my stop losses.
6. Increasing too much the margin requierement even for the old positions already opened.

In my opinion they are focused on making trades lose they are utilizing anything the can to put in the worst high risk position to their clients.

I understand they want to minimize their risk but they are taking advantage of their clients making them lose.

If somebody has any suggestion I will really appreciate it.

Thanks

 

[edisondanielmv]

Big mystery with Oil nowadays, what reply you have received from pepperstone regarding this yet?

Nothing everytime I'm trying to contact them I have to wait a lot and when finally I reach them they say either it has been a management desition or it is the part of the game and you should have consider that before trading.
No solutions, no taking responsability and not helping at all their clients.

 

[FxMaster]

Nothing everytime I'm trying to contact them I have to wait a lot and when finally I reach them they say either it has been a management desition or it is the part of the game and you should have consider that before trading.
No solutions, no taking responsability and not helping at all their clients.

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[edisondanielmv]

Simple, they won't tolerate the risk, that's why it's passed unto you via a slapped of restriction over it by keeping your account's margin under control. Let's just say... if everyone made a hefty profits out of it and there are no counter-parties to sell to... would the broker still pay you at the end of the day? Ha. You bet.

Yes I understand they use everything they have to put me in the worst position. I'm not expecting something good from their side. Im trying to focus on how to solve this by myself and at least leave these comments to warn other traders and let them know what are the things pepperstone is doing to take advantage of you.