don't work with Pepperstone I lost there 105000$ in one week nobody there spoke to me never send me emails about margin call they are lier broker.

DarkTriad

Recruit
Messages
4
I feel for you and your loss, but this sounds like you lost your money because of lack of understanding of how leverage and margin work. A new trader with a large balance using 1:500 leverage looking for big wins without understanding the risk is a story repeated time and time again.
 

forexteamau

Private
Messages
35
I feel for you and your loss, but this sounds like you lost your money because of lack of understanding of how leverage and margin work. A new trader with a large balance using 1:500 leverage looking for big wins without understanding the risk is a story repeated time and time again.
I never had any experience with Pepperstone to be honest but all I know is this is another ASIC regulated Aussie broker with no strict audit and monitoring. I have proof that about the dirty games brokers play to send you to the margin call zone. The less experienced you are, the better chance for them to corner you .

I lost my faith in FX brokers even Crypto ones. I was trading with Bitmex when bitcoin crashed In March, They froze many trader's platform so we could not close our short position in profit and open a new position at $3700 a bitcoin. I learned my lesson, No one gives you free loan just to help you make money. It's more profitable for Casino (House) to manipulate the game and take all your money! The whole point is that we cannot blame the trader all the time. The poor guy was not experienced but that doesn't mean it was all his fault.
 

roiboy

Private
Messages
17
Thanks for all support... now I understand that the broker want me to loss like casino.. and If i win they loss.. but to give 1:500 to newbie is like to give a gun to kill yourself.. and not sending margin call never calling after see big loss and to ask what is going on that his fake broker not fair one and need to be ashamed on him and hope people won't work with them, don't understand why asic still giving them 1:500 levarage and why AFCA that know they are fake not giving my money back!!
 

forexteamau

Private
Messages
35
Thanks for all support... now I understand that the broker want me to loss like casino.. and If i win they loss.. but to give 1:500 to newbie is like to give a gun to kill yourself.. and not sending margin call never calling after see big loss and to ask what is going on that his fake broker not fair one and need to be ashamed on him and hope people won't work with them, don't understand why asic still giving them 1:500 levarage and why AFCA that know they are fake not giving my money back!!
No worries Mate. Hope justice finds its way towards them and you get your money back . I don't know how you got a margin call but In the meantime while they are processing your complaint. calculate your lot size and margin requirement on the day you had a margin call. I know some of these ASIC regulated brokers play dirty tricks and reduce the account leverage during the night. Make sure your leverage has not been affected.

To be honest AFCA is a non profit org. Making minimum 2 million dollars a year out of 35000 members. I have a feeling that their judgement could be little biased but I hope I'm wrong .fingers crossed.
Try to report them to ASIC if you have proof about their misconduct. Normally they do nothing but still.
 

4evermaat

2nd Lieutenant
Messages
1,814
......
To be honest AFCA is a non profit org. Making minimum 2 million dollars a year out of 35000 members. I have a feeling that their judgement could be little biased but I hope I'm wrong .fingers crossed.
Try to report them to ASIC if you have proof about their misconduct. Normally they do nothing but still.
ASIC is good to complain to, but AFCA actually has restitution powers. But most victims are relying too heavily on the regulators to do things on their behalf. Regulation is "after the fact" or reactionary.

But what most traders don't know are the lengths that unscrupulous brokers can go through to legally trip up their clients. This is why understanding the broker's business model is critical. Or put another way, if you don't understand their business model, do not deposit. @roiboy got an expensive lesson here. #RegulatedFool
 

roiboy

Private
Messages
17
Yes I was newbie they never call me or even send me emails gave me levarage of 1:500 and I open trades more and more didnt send me margin fall or call me or never explain me about risks I guess they trick me in the trades as well.. they like casino want me to loss... I went to AFCA I hope they will help even broker more strong then me..they **** me up and make me big loss own now money I dont have to banks credit cards and private people and cannot pay nothing
 

DarkTriad

Recruit
Messages
4
Yes I was newbie they never call me or even send me emails gave me levarage of 1:500 and I open trades more and more didnt send me margin fall or call me or never explain me about risks I guess they trick me in the trades as well.. they like casino want me to loss... I went to AFCA I hope they will help even broker more strong then me..they **** me up and make me big loss own now money I dont have to banks credit cards and private people and cannot pay nothing
What Lot sizes were you trading and what was the size of your account ?
 

Sorustrader

Recruit
Messages
2
Sorry 4 your loss, but i dont understand, how did you lose so much if most brokers have automatic stop outs? I am new to trading and when I open my acc with other brokers I had to take a test showing i knew about the products first
 

roiboy

Private
Messages
17
Dont know what is stop out.. lost alot try to make it back lost more and more and they happy never call me even to explain about risks margin.. stupid compeny who destroy my life..make me divorce and my only kidd not speaking with me as well
 
Top