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

FxMaster

Lt. Colonel
Messages
9,145
Till then you can follow the suggested steps below.
Few steps that you must follow to draw their attention to your issue,
If you deposited your money via credit card then contact the credit card customer care asap and ask them to file a chargeback.
Go to their website and invite them to here via Live Chat
Invite them to join this thread via email (Send an email to every possible address).
You will find their email and address https://pepperstone.com/en/company-profile/contact-us
Also, share your story as a review http://www.forexpeacearmy.com/forex-reviews/7523/pepperstone.com
You can also share your story on their social media pages mentioned below:
https://www.facebook.com/Pepperstonefx (Click on more and you will find write review option there)
https://twitter.com/PepperstoneFX
https://pepperstone.com/en/trading-platforms/iphone
https://pepperstone.com/en/trading-platforms/android
Note: Don’t forget to update your review/s when you got a solution to your problem.
 

edisondanielmv

Recruit
Messages
6
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.
Exactly other brokers dont offer this instrument and it is not moving and they keep charging me swaps fees and they already increased the marging requierements.
Just in my opinion this is a fake instrument to make lose their clients. They provided the chart like the xtiusd but after they allow to trade the instrument it didn't move like xtiusd it remained steady and of course many of us thought it will move up as it was expected. So the other oil instruments moved up xtiusd is over 19 usd xbrusd is over 25 usd and this one remains under 8.5 usd. And I have no idea why so they trapped me there and im expecting it will not move at all just to make me cut the losses.
 

4evermaat

2nd Lieutenant
Messages
1,875
I understand why you are unhappy but this is not a problem with the broker.
Some of it is. HOW the broker handles it tell you a lot about their underlying business model. No different than SNB in Jan 2015 or any other major/"unprecedented" event. Brokers using an agency model rarely seem to have these problems.

Not saying they don't have problems. But they never seem to have the "broker deleted my profits/removed my stop loss/disabled the close button/etc" kind of problems.
 

The Reaper of F

Sergeant
Messages
198
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.
Sorry Pepperstone, not to bash you in an outright manner... but you seem to have walk a step closer to being the next IC Market.

Plus, they aren't an ECN after all. A little research shows why IC Market removes the ECN tagging off their site just recently. Same goes to Pepperstone, only that this dated awhile back.

Link:
 

forexache

Recruit
Messages
1
Exactly the same here... I have some positions using SPOTCRUDE with Pepperstone. I am not able to comprehend at all why the pricing is still at about USD8 when most WTIUSD has moved passed USD11. Some even reaching over USD18.
 

4evermaat

2nd Lieutenant
Messages
1,875
Plus, they aren't an ECN after all. A little research shows why IC Market removes the ECN tagging off their site just recently. Same goes to Pepperstone, only that this dated awhile back.
Pepperstone is being very deceptive in that email. Did you catch all of the lies? They very carefully try to cover up/downplay the fact that they are trading against their clients. And they make sure they said there are no trade receipts. They also indicate that they don't know any broker who does. So then how can they verify if what the LP is streaming to them is true or not, if there is no receipt of offsetting transactions?

Even if you offset some of the flow internally, you would have a record of HOW the trade was offset. There would be a history that would allow you to replay how the flow entered into your queuing system (dealing desk, bridge, or whatever name you call it). But I guess this doesn't matter if most of your clients are compulsive gamblers anyway.

But any agency model broker can provide post-trade report proving the counter-party to the trade (who they ultimately offset the trade with). And it would provide full analysis of the trade like market snapshot and the total execution time at each hop from the moment the broker received the trade until the confirmation of the final action on that ticket is sent to the client.

Lay down with dogs....liable to catch fleas!!!!

@forexache please open a separate scam alert case against the company and attach evidence. Avoid cross posting in other threads:


 

The Reaper of F

Sergeant
Messages
198
But I guess this doesn't matter if most of your clients are compulsive gamblers anyway.
Logic prevails. Most if not the many traders worldwide, based their decisions on emotions. Even an analyst had a hard time squandering away from their faults when someone catches them off-guard (An analogy to Pepperstone aforementioned's omission).

My honest advice to retails: Believe nothing and only believe in what you can make sense of - usually from a lead of solid credence built upon the foundation of truth, on a daily basis.

Ever heard of this phrase?
"The smartest person in the room is usually not the person in the room who is the loudest."

I remembered, Pepperstone and IC Markets were the loudest in the scene prior, screaming ECN and lots of so-called accountability. Now, it's all nothing but fable stories.
 

The Reaper of F

Sergeant
Messages
198
Exactly the same here... I have some positions using SPOTCRUDE with Pepperstone. I am not able to comprehend at all why the pricing is still at about USD8 when most WTIUSD has moved passed USD11. Some even reaching over USD18.
Don't bother trading CFD with an FX broker... most FX broker are not specialist in offering CFD either. Though they are approved by the regulators to do so but that doesn't mean they are doing it for the clients. There is always a reason why they provide a lousy set of CFD in their list of financial instrument.

Think, why did analyst write, and produce a whole bunch of report to you for free? Specifically analyst hired by the brokers. The time spent in research are for nothing? You think they do it for the job? Most people don't do it for the job. They do it for a purpose. What is the purpose? Nonetheless, if their analysis were deadly accurate, why are they still writing it? They should be a millionaire by now.

And, if you linked my analogy to why a broker offered CFD to the clients initially, you'll understand why there are a major discrepancies between price offered by Broker A to Broker Z on Oil's pricing. Some offered 8, 5, 12, 17, 15, 13. Why? Why isn't it the same? See where you trail the tail to now? Do your own research before signing up and investing. I am not here to babysit so don't ask me why because I'm hoping that retails would take the liberty to start thinking and stop "following".

Last advice: Don't step into the traps of being a conspiracy theorist but being the logical and rationale trader you are: Be wary, and be on your toes always. It's a dog eat dog world, so take care.
 
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FxMaster

Lt. Colonel
Messages
9,145
Exactly the same here... I have some positions using SPOTCRUDE with Pepperstone. I am not able to comprehend at all why the pricing is still at about USD8 when most WTIUSD has moved passed USD11. Some even reaching over USD18.
If you are having a serious problem with a company, you should open your own thread in Scam Alerts and give details.

Why your own thread?

1. If the person who started this thread has their issue resolved, this whole thread will be marked as resolved.

2. Your thread can have a link from your review. This makes your issue more visible.

3. Issues can be different. Having your own thread makes it easier to get advice specific to resolving your issue.
 
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