The Aslan Group > Forex Rebate Info
Exciting Broker News - Pepperstone Financial Pty Ltd
TheAslanGroup:
Update July 7, 2011...
Today Pepperstone has launched their new Razor ECN Account which offers industry-leading spreads while providing Safety and Security that comes with ASIC regulation.
The Aslan Group will pay a rebate of $0.90 AUD/round turn lot on Razor ECN Account ( you will be paid the USD equivalent of $0.90 AUD ).
Applying through This Page will automatically place your account under our IB and facilitate your participation in our Rebate Program.
I want to wish all members of Donna Forex a Happy New year and also pass along some long-awaited ( and very exciting ) broker news.
Several months ago we received an email from one of our most trusted partners, stating that he and a group of fellow industry professionals were in the process of starting their own brokerage ( based in Melbourne Australia ). This is a highly talented group of individuals with years of experience in the institutional side of the industry; I was confident that the end result would be something fantastic.
I had the privilege of working with them as a consultant of sorts, as they were very interested in knowing what our clients desire to see in a brokerage. They know many of the problems plaguing retail fx and made it their mission to provide institutional grade trading to the online forex trader; a mission which they have indeed accomplished!
I am pleased to introduce Pepperstone Financial Pty Ltd to the Donna Forex Community ( here is the press release from Yahoo Finance )
Pepperstone is an ASIC regulated, STP broker that uses a state of the art technology allowing them to source liquidity that most other brokers simply don’t have access to. This results in industry leading spreads and superior speed/execution.
As you will see from their website, Pepperstone places tremendous value of the safety and security of your funds. All client equity is fully segregated and held in the safest top-tier AA rated banks, such as National Australia Bank and HSBC.
They are completely transparent when it comes to their regulation/compliance policies as well as the identity of their liquidity providers.
Pepperstone offers revolutionary trading conditions for MT4, leverage up to 400:1 ( higher leverage is available upon request ) and account funding in AUD, CHF, EUR, GBP, JPY, NZD, SGD, and USD
There is commission charged on Standard accounts and if you open your account through The Aslan Group you will receive a rebate of 0.36 pips/lot on your monthly trading volume ( approximately $3.60 in cash back for every standard lot that you trade ).
We have a fantastic relationship with Ower Kerr, the CEO of Pepperstone, and he has agreed to stop by the forum at the end of next week to answer any questions from within this community.
I encourage you to look through the Website, download a demo account and feel free to post any questions/concerns that you would like Owen to address.
We have been waiting several months for this day to come, and we’re thrilled to announce that Pepperstone is open for business.
Best Regards,
Gavin
* Please note that US clients are not accepted
nano_fx0:
their spreads can't beat Hotforex still.... :(
robl45:
Should mention they don't take us clients so people like me don't waste our time
TheAslanGroup:
--- Quote from: robl45 on January 08, 2011, 08:05:09 pm ---Should mention they don't take us clients so people like me don't waste our time
--- End quote ---
Good point robl45...I have included that in the initial post.
Thanks,
Gavin
TheAslanGroup:
--- Quote from: nano_fx0 on January 08, 2011, 07:20:19 pm ---their spreads can't beat Hotforex still.... :(
--- End quote ---
Hello nano_fx0,
I looked at the hot forex website and you are correct that their advertised spreads are lower than what Pepperstone offers… in fact I see that their “Volume” account lists spreads as low as 0 pips with no commissions charged and a deposit bonus of 20% to boot.
In addition they offer a 2-tier affiliate program that pays a total 85% of company revenue to their affiliates.
I also noticed this FSC Disclaimer stating...
"In issuing an Investment Dealer license to the Company, the Mauritius Financial Services Commission does not vouch -
(i) for the reliability and financial soundness of the products offered or products on which the Company provides its service; and
(ii) for the correctness of any statements or opinions expressed by the Company.
I know I probably sound like a broken record but there are more important factors in our assessment of a broker than just the spreads.
This is not meant to be a shot at Hot Forex or any other fx broker regulated in Mauritius but if you are going to post in the Pepperstone thread and invite a direct comparison then it is only fair to look at the entire picture and set the proper context.
According to the Hot Forex website, they hold a Category 1 Global Business License issued by the Financial Services Commission (FSC) of the Republic of Mauritius.
A description of the Category 1 Global business License ( GBC1 ) can be found here on the FSC’s Website along with instructions on what is required to obtain a GBC1 license
As we can see, one could obtain this license within 15 days of submitting the application and paying the $500.00 processing fee along with a $1,500.00 licensing fee which is charged annually.
Section 4.3 states the following…
4.3 A licence may be revoked if the holder has contravened the Financial Intelligence
and Anti Money Laundering Act 2002 and the licensing conditions or to protect
the good repute of Mauritius.
It’s great that a broker can lose their license for contravening the Anti-Money Laundering Act and damaging the good repute of Mauritius but how relevant is that to most forex traders?
What about minimum capital requirements? What policies are in place for protecting clients’ deposits?
In my opinion, the key element of regulation is accountability. Anyone who is a parent will tell you what can happen when there are no consequences for wrong-doing.
I want to know that my broker will be held accountable when it comes to their marketing content. Personally I’m not comfortable with a disclaimer from a regulatory body saying they “can’t vouch for the correctness of any statements or opinions expressed by the company”.
It can raise questions about the accuracy of the content when there are no consequences for embellishment or inaccurate information.
So while I acknowledge that the advertised spreads at Hot Forex are lower than Pepperstone and every other broker ( can’t get lower than 0 pips with no commission ) that must be considered in the context of what is mentioned above and also measured against other factors that contribute to a broker’s overall value.
- Pepperstone is ASIC regulated and licensed as an Authorised Representative of CDM Pacific Pty Ltd AFSL 223682 which is fully insured by Lloyds of London
- All client funds on deposit with Pepperstone are held in a separate trust account established at top tier banks ( HSBC & National Australia Bank ), maintained and operated in accordance with Australian client money rules. Client funds will not be used to pay back creditors in the event of Pepperstone default or insolvency.
- Pepperstone Financial Pty Ltd (as a corporate Authorised Representative of CDM Pacific) is a member of the Financial Ombudsman Service (FOS), which is an approved Australian external dispute resolution scheme that can deal with complaints about all of the financial services CDM Pacific provides under its AFSL.
These issues are important to me ( as are the spreads and execution ) but I understand that they may not be a priority for everyone and that is ok.
At the end of the day, we are all entitled to our beliefs and we all have a different set of priorities. I have no personal experience with Hot Forex or any of its principles so my opinion on them may not mean a whole lot.
On the other hand, I have plenty of experience and history with the CEO of Pepperstone and am well aware of both his talent and expertise but most importantly, his character and ethics. That is the source of our confidence in this company but I completely understand that the proof will be in the pudding :)
Best Regards,
Gavin
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