Pepperstone IS A SCAM

sgalizia

Private
Messages
20
Dear All,
i've been trading with Pepperstone for some time. On January 15 i was on the right side on CHF move and made a gain of more than 30k.
During this day, after closing all my positions, i requested a withdrawal. By the end of the day, as usual, i received the email confirmation of all the trading activity of the day. (note this point is important).
The day after (January 16) i received an email saying funds were not enough to make the withdrawal, i checked my account and all the trades on CHF were nullified. (i've the statement saved)

After that we had some mail exchange with pepperstone and here is the summary

1. They told me i was using an EA which calculate price difference between price feeds.
2. I had the same activity also weeks before (some losing week) and they TOLD ME NOTHING
3. I replied telling to prove me how i've profited illegally from price movements
4. SAME REPLY from them, you were using an EA to profit from price difference.

After that i've asked to be contacted by phone, and NO REPLY

Of course i've synthetized for your convenience but i can post FULL mai exchange and also statements.
 

ruseneca

Master Sergeant
Messages
348
We do hope that they would state their arguments not only for this case but as a whole because there are clients who have lost from their trades and clients who have generated immense profit. I am sure that this is not the only case.
The good broker will always be with you and explain the situation as it is. Buckets hide behind thousands of excuses, sometimes even irrational.

1. They told me i was using an EA which calculate price difference between price feeds.
They are a regulated broker, so, if that was their excuse, contact their regulator and quote their answer. Ask for help and advice.
 

sgalizia

Private
Messages
20
We do hope that they would state their arguments not only for this case but as a whole because there are clients who have lost from their trades and clients who have generated immense profit. I am sure that this is not the only case.
The good broker will always be with you and explain the situation as it is. Buckets hide behind thousands of excuses, sometimes even irrational.


They are a regulated broker, so, if that was their excuse, contact their regulator and quote their answer. Ask for help and advice.
Of course already filed a case with Australian Regulator.

Hope some sergent here can also tell something. :)
 

veri5

Corporal
Messages
114
they pretend to be ECN so in theory they shouldn't care about trading style, never saw Pepperstone here, seems things are really bad with them after CHF accident ... welcome in club Pepperstone !
 

sgalizia

Private
Messages
20
they pretend to be ECN so in theory they shouldn't care about trading style, never saw Pepperstone here, seems things are really bad with them after CHF accident ... welcome in club Pepperstone !
Totale agree.... And also when CHF accident occured in their site they stated "business as usual"... Now i know the meaning...

Are you scammed by them also?
 

Pharaoh

Colonel
Messages
19,844
Were the trades opened before or after the SNB pulled the rug out from under the EURCHF?
 

Ed_Forex

Private, 1st Class
Messages
240
At that SNB or another time does not matter, pepperstone system had processed the client execution for trades because their liquidity providers had price feed from top to all the way down, and when pepperstone claim to be ECN broker that includes your trades free to market access.

Although pepperstone behaved better than other scam brokers who said no liquidity as an excuse, they can not cancel your profits during that time because of any EA, because they allow EA trading.
 

sgalizia

Private
Messages
20
At that SNB or another time does not matter, pepperstone system had processed the client execution for trades because their liquidity providers had price feed from top to all the way down, and when pepperstone claim to be ECN broker that includes your trades free to market access.

Although pepperstone behaved better than other scam brokers who said no liquidity as an excuse, they can not cancel your profits during that time because of any EA, because they allow EA trading.
I've also proved to them that orders where opened at the top of the candles not in the middle or at any whipsaw.
So yes they had liqudity to process the orders.
 

Ed_Forex

Private, 1st Class
Messages
240
You have nothing to prove to them. in the middle or at any whipsaw does not matter, they had liquidity at the execution prices that's why they filled your trades.

Non of their business if you were using EA (that they allow), excel program or a pencil and paper to calculate price feed differences!
 
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