Problem 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.

[4evermaat]

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

It might be the company's fault that they trip their clients up with all kinds of tricks (freezing close button, asymmetrical slippage, etc)..... but is it really their fault that you used non-risk capital to gamble deposit and trade?

Pepperstone is certainly not the most honest company that I have dealt with, but there is some personal responsibility that must be accepted from the trader also. I guess you might be able to prove that they induced you to trade. Or tripped you up somehow. And AFCA might rule in your favor.

 

[Sorustrader]

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

So in this case you were losing and kept doing the same thing? I can't see how you did not have the choice to stop at the first time. I mean, no one force people to borrow money to trade or force to place trades, if I see I am losing I would just stop because that's the only thing I can control

 

[ForexViking]

Never use credit to build up capital, I don’t find pepperstone to be the most trustworthy of brokers but this sounds like a bad way to go about trading. :/ hope you get some resolution from this though sounds like straight up gambling to me unfortunately :/ best of luck

 

[Stephen Paul]

There are always lessons to be learnt with things like this

 

[oscarra]

what lessons ?

https://beta.companieshouse.gov.uk/company/08965105/filing-history

Full accounts audited by EY wow

anyway some five thousand clients 17mil funds been held on segregated accounts, so they say, also been booked as company cash…wonderful

…did not read all, always the same poor quality garbage accounting, however one should ask EY who provides liquidity 17 mil X 500, or call it a credit line, probably coming from some galactic worm hole pool

 

[oscarra]

yes….. let's start laughing, me too … from the beginning

https://anz.businesschief.com/leadership/1424/EY-Entrepreneur-Of-The-Year-Awards-Revealed

« Pepperstone is currently in the top 15 among retail foreign exchange brokers globally. The company, which was founded in 2010, has offices in Australia, China and the US, services over 20,000 retail investors in 150 countries and has a huge average trading volume of $3.3 billion per day.

…..any idea about the3.3 billion per day ......come on some comments please

well, Pepperstone Group ltd, at least they are not running Australian QUANTAS

" One of the companies keys to success is not being afraid to make mistakes.

 

[forexteamau]

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

To be honest I reported the misconduct to ASIC. Later I received a response saying that you do not need to contact us again we will get the reports from AFCA . I contacted AFCA to see how they send these reports to ASIC . AFCA said sometimes ASIC request bulk reports sometimes. We don't send reports to ASIC for every case. That's completely a runaround to deal with a complaint. Later I found out that they send a bulk reply to all complainants with same context ! I don't expect them to deal our single cases but some of these brokers were cheating for long time and I don't know if there is money on the side or what's going on that they can still continue to deceive people.

 

[4evermaat]

To be honest I reported the misconduct to ASIC. Later I received a response saying that you do not need to contact us again we will get the reports from AFCA . I contacted AFCA to see how they send these reports to ASIC . AFCA said sometimes ASIC request bulk reports sometimes. We don't send reports to ASIC for every case. That's completely a runaround to deal with a complaint. Later I found out that they send a bulk reply to all complainants with same context ! I don't expect them to deal our single cases but some of these brokers were cheating for long time and I don't know if there is money on the side or what's going on that they can still continue to deceive people.

You're worrying about things that you have no control over. You only have some control over how you present evidence for your individual case to AFCA.

And of course avoiding gambling investing your savings with people you don't know well.

 

[oscarra]

You're worrying about things that you have no control over. You only have some control over how you present evidence for your individual case to AFCA.

hum, maybe ASIC will learn from FCA

https://www.fca.org.uk/news/press-r...irms-used-unauthorised-celebrity-endorsements

 

[AK Capital Markets]

Pepperstone changed their terms and conditions and product disclosure and there are paragraphs explaining this specific situation...