Hi Guys,
Just found this thread tonight, I wish i found it sooner....!
I too was drawn to FXTradingAccount and Neil Kings flash presentation and investment performance.....
I was only on the phone again today with Pepperstone, who i think has their heads in the sand.....
I setup the account on the 19/1/2014 with 3k....
After a week i noted every trade was closing with a small loss.....I then did don some and noted i was being charged an equivalent to $20 for GBP and $22 CHF per lot round trip....
When question, they indicated this was a mistake and was fixed, i now pay $7.....
It does not end there.....Neil says in the video he only charges a commission on profits...wrong, he adds margin to every trade via a spread mark-up which is collected by the broker and paid to him, so he wins even if you have a losing trade....
Current Pepperstone spread for GBP is 0.1 to 1.1 and FXTradingAccount Account is currently 2,7
Current Pepperstone spread for EUR is 0.1 to 1.0 and FXTradingAccount Account is currently 2.3
Current Pepperstone spread for EUR is 0.1 to 1.9 and FXTradingAccount Account is currently 2.6
So clearly he does make money when you are not......I had to force this information from Pepperstone over the phone, as the question was ignored in a couple of emails to Neil...
At the start Neil was responding to my emails, but after requesting an updated live updates link, he has gone quite.....
I have also seen the two sets of brokers used FXTradingAccount and when i mentioned to the Pepperstone, they told me the were aware of this and believed that they were slowly moving over to Pepperstone.....
Currently, the account has generated $153 since 19/1/2014 but is currently $450 in draw down, so this is nothing like what he was advertising on his web site....
The money means nothing to me, i have much more than this running else where.....I'm more concerned about ensure people are ware of what is going on....
Regards
Paul
Just found this thread tonight, I wish i found it sooner....!
I too was drawn to FXTradingAccount and Neil Kings flash presentation and investment performance.....
I was only on the phone again today with Pepperstone, who i think has their heads in the sand.....
I setup the account on the 19/1/2014 with 3k....
After a week i noted every trade was closing with a small loss.....I then did don some and noted i was being charged an equivalent to $20 for GBP and $22 CHF per lot round trip....
When question, they indicated this was a mistake and was fixed, i now pay $7.....
It does not end there.....Neil says in the video he only charges a commission on profits...wrong, he adds margin to every trade via a spread mark-up which is collected by the broker and paid to him, so he wins even if you have a losing trade....
Current Pepperstone spread for GBP is 0.1 to 1.1 and FXTradingAccount Account is currently 2,7
Current Pepperstone spread for EUR is 0.1 to 1.0 and FXTradingAccount Account is currently 2.3
Current Pepperstone spread for EUR is 0.1 to 1.9 and FXTradingAccount Account is currently 2.6
So clearly he does make money when you are not......I had to force this information from Pepperstone over the phone, as the question was ignored in a couple of emails to Neil...
At the start Neil was responding to my emails, but after requesting an updated live updates link, he has gone quite.....
I have also seen the two sets of brokers used FXTradingAccount and when i mentioned to the Pepperstone, they told me the were aware of this and believed that they were slowly moving over to Pepperstone.....
Currently, the account has generated $153 since 19/1/2014 but is currently $450 in draw down, so this is nothing like what he was advertising on his web site....
The money means nothing to me, i have much more than this running else where.....I'm more concerned about ensure people are ware of what is going on....
Regards
Paul