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Author Topic: Pepperstone Razor ECN Account  (Read 280915 times)

Offline donbon2

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Re: Pepperstone Razor ECN Account
« Reply #840 on: January 31, 2015, 09:24:26 PM »
Seems they are betting on being bigger in the future and making more money

the problem is if they go backwards and revenue drops then things don't look so good.

With all the money those 2 have taken out of the company - they can't be insolvent otherwise they will end up in prison.

I don't trade $CHF or EURCHF or anything CHF so I don't have any of these problems -- but from reading IC Markets thread I won't be trading there in the future.

GP + Fx Pig will get my next 2 accounts.

Offline rodneyp

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Re: Pepperstone Razor ECN Account
« Reply #841 on: January 31, 2015, 11:50:22 PM »
Seems they are betting on being bigger in the future and making more money

the problem is if they go backwards and revenue drops then things don't look so good.

With all the money those 2 have taken out of the company - they can't be insolvent otherwise they will end up in prison.

I don't trade $CHF or EURCHF or anything CHF so I don't have any of these problems -- but from reading IC Markets thread I won't be trading there in the future.

GP + Fx Pig will get my next 2 accounts.

If the missing $14 million in client funds was part of the $32 odd million they took out of the company surely ASIC will have something to say.
« Last Edit: February 17, 2015, 08:48:49 AM by rodneyp »

Offline rodneyp

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Re: Pepperstone Razor ECN Account
« Reply #842 on: February 01, 2015, 01:16:19 AM »
I love these paragraphs

Kerr acknowledged MT4 is not unique but insisted its proprietary back-office, client area, aggregation systems, electric communications network, settlement systems, payments infrastructure, IT Technology, Server Farm and low-latency infrastructure all are.


He said this back-office system has enabled us to disrupt industry margins and provide low-cost FX brokerage to our client base.

Here is the reality....

proprietary back-office - really just an off the shelf system built by www.setfive.com. This is the product www.getmetaforce.com

client area - same as above

aggregation systems - fortex is their aggregator, its not a proprietary system. Owen Kerr is even quoted on the fortex website. http://fortex.com/about-us

electric communications network - Again this is fortex, they are not a real ECN anyway as the operate a B book.

settlement systems - no such thing as forex is OTC and does not require settlement

payments infrastructure - NAB credit cards, Neteller, Poli, Skrill, Citadel, Ayden are all third party companies and Pepperstone simply cant own their infrastructure. They would only have API access.

IT Technology - Hmmm a bit hard to own this when it is out sourced.

Server Farm - Fortex host their servers in NY4

low-latency infrastructure - more like the Equinix data centers infrastructure not Pepperstones.

I love this Owen Kerr guy, a true used car salesman indeed !!
« Last Edit: February 01, 2015, 01:37:22 AM by rodneyp »

Offline aeronthomas

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Re: Pepperstone Razor ECN Account
« Reply #843 on: February 01, 2015, 06:52:06 AM »
I am deeply disappointed by their response and it is sad because after three years trading with them, I thought I found a reputable broker but now I have to start searching again, I mean what a let down that was..............
'

I used to trade with them but have since switched to having accounts with IC Markets and Global Prime, pays to diversify.  Global Prime is smaller aussie broker but no downtime with the recent SNB move and good spreads / execution speed.  Check out the threads of brokers will give you a good idea how they treat their customers, good luck.

Did you experience any particular problems with Axi?

I didn't trade with them all that long.  I mainly stopped as didn't like the idea they B book, after reading their PDS more thoroughly.  However most traders seem to report they are pretty good.

Offline rodneyp

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Re: Pepperstone Razor ECN Account
« Reply #844 on: February 04, 2015, 03:25:39 AM »
Can someone from Pepperstone please get back to us regarding the missing $14 mill in clent money.
« Last Edit: February 17, 2015, 08:49:37 AM by rodneyp »

Offline ColiseumFX

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Re: Pepperstone Razor ECN Account
« Reply #845 on: February 04, 2015, 04:20:42 AM »
When did this $14m go "missing"? I can't find stories anywhere online about this and it's baffling me.

Offline rodneyp

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Re: Pepperstone Razor ECN Account
« Reply #846 on: February 04, 2015, 06:19:14 AM »
When did this $14m go "missing"? I can't find stories anywhere online about this and it's baffling me.

The story broke here

http://www.theaustralian.com.au/business/financial-services/taking-pepperstone-with-a-grain-of-salt/story-fn91wd6x-1227202824312

Below is the section from the news article.

On the back of this, the two founders extracted $32m from the company in dividends, even though their total liabilities stand at $94m compared to $83m in cash and cash equivalents. The accounts also reveal there is a $14m shortfall in clients funds with $85m recorded as owed to clients while $71m is held on segregated client accounts.
« Last Edit: February 04, 2015, 08:53:09 AM by rodneyp »

Offline ColiseumFX

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Re: Pepperstone Razor ECN Account
« Reply #847 on: February 04, 2015, 06:44:51 PM »
When did this $14m go "missing"? I can't find stories anywhere online about this and it's baffling me.

The story broke here

http://www.theaustralian.com.au/business/financial-services/taking-pepperstone-with-a-grain-of-salt/story-fn91wd6x-1227202824312

Below is the section from the news article.

On the back of this, the two founders extracted $32m from the company in dividends, even though their total liabilities stand at $94m compared to $83m in cash and cash equivalents. The accounts also reveal there is a $14m shortfall in clients funds with $85m recorded as owed to clients while $71m is held on segregated client accounts.

At the moment that is the only source for this story no one else has posted it. Their IPO is underwater.

Offline euclid

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Re: Pepperstone Razor ECN Account
« Reply #848 on: February 04, 2015, 11:29:48 PM »
When did this $14m go "missing"? I can't find stories anywhere online about this and it's baffling me.


"Its recent accounts to June 2014 also reveal little investment in technology. Instead, the statements show the firm racked up a profit of $28m for the year. On the back of this, the two founders extracted $32m from the company in dividends, even though their total liabilities stand at $94m compared to $83m in cash and cash equivalents. The accounts also reveal there is a $14m shortfall in clients funds with $85m recorded as owed to clients while $71m is held on segregated client accounts. Australia remains one of the few countries, alongside Cyprus and Mauritius, where brokers can use client funds on deposit as collateral for potential losses incurred by the firm on other currency bets."

So not missing, just borrowed for collateral.

Offline rodneyp

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Re: Pepperstone Razor ECN Account
« Reply #849 on: February 05, 2015, 01:59:29 AM »
When did this $14m go "missing"? I can't find stories anywhere online about this and it's baffling me.


"Its recent accounts to June 2014 also reveal little investment in technology. Instead, the statements show the firm racked up a profit of $28m for the year. On the back of this, the two founders extracted $32m from the company in dividends, even though their total liabilities stand at $94m compared to $83m in cash and cash equivalents. The accounts also reveal there is a $14m shortfall in clients funds with $85m recorded as owed to clients while $71m is held on segregated client accounts. Australia remains one of the few countries, alongside Cyprus and Mauritius, where brokers can use client funds on deposit as collateral for potential losses incurred by the firm on other currency bets."

So not missing, just borrowed for collateral.

It doesnt say the $14 mill has been used for collateral it says there is a "shortfall", with this exact word. Anyway they can't be trusted this Kerr guy is full of Peppercrap or just a very stupid guy. Fancy lying to journalists, he can pull the wool over his clients eyes but trying to pull the wool over the eyes of the world is bold move, he was destined to get sprung sooner or later. Serves him right !!

Offline PsychoPipKiller

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Re: Pepperstone Razor ECN Account
« Reply #850 on: February 05, 2015, 04:27:22 AM »
@rodneyp - ha, what a surprise that rodney is back in the thread criticising Pepperstone. You are so boring and typical. You add nothing to this thread. Go back to your IC thread so you can talk about how awesome they are...

by the way, this came from forextfactory... https://pepperstone.com/company-profile/statement.php#




Offline rodneyp

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Re: Pepperstone Razor ECN Account
« Reply #851 on: February 05, 2015, 05:20:49 AM »
@rodneyp - ha, what a surprise that rodney is back in the thread criticising Pepperstone. You are so boring and typical. You add nothing to this thread. Go back to your IC thread so you can talk about how awesome they are...

by the way, this came from forextfactory... https://pepperstone.com/company-profile/statement.php#

Why thank you for the compliment junior member with a whopping 6 posts.

Offline donbon2

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Re: Pepperstone Razor ECN Account
« Reply #852 on: March 16, 2015, 04:48:09 PM »
you guys must not have an in-house IT Team -- it must be outsourced

1. they don't know when your trading systems are working or not

2. your website goes down - you blame your host that it is their problem -- when you could just deploy a back-up and use someone better and be back online in 10 minutes

in fact it didn't even seem that anyone knew your website was down - till I let them know -- LOL.

using you guys is like going to the Dentist.

Cheers

Offline Kristofer

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Re: Pepperstone Razor ECN Account
« Reply #853 on: November 24, 2015, 02:12:14 PM »
FreshForex provides ECN account, which does not only offer  best ECN execution:   on average it takes 0.05 seconds, but  low commissions and almost zero spreads as well! Besides, FreshForex covers  customers 100% of deposit commission for depositing funds through most popular payment systems. Double saving. You can even  not start trading, you have to get the money that would have gone to other brokers to their pockets.

Offline CanadianPsycho

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Re: Pepperstone Razor ECN Account
« Reply #854 on: April 18, 2017, 07:30:24 AM »
So I thought I should toss in a good word for Pepperstone here; bumping this old thread.

I actually found Pepperstone here on DFF when they were new, and I'm really happy I did. In 10 years, I've had accounts with several brokers, but I've always stuck with Pepperstone as my preferred option because the spreads have always been good, the execution speeds have been top rate, the slippage has been better, and the customer service has always been superior to most any other options I've experienced. I've never had the feeling that this broker tried to hunt my stops, or manipulates my price feed.

Pepperstone is at the top of my list of recommended brokers. I know they have their detractors like any broker does, but I've found those detractions to often be lacking in merit. I've been happy with them for years now.

 

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